Accounting Policies of RR Securities Ltd. Company

Mar 31, 2024

Note : 1 : MATERIAL ACCOUNTING POLICY INFORMATION

(1) Corporate Information

R R Securities Limited is a public company domiciled in India with its Registered Office at 1 Rushil Bunglow.
Sterling City, Bopal, Ahmedabad . The Company has been incorporaed under the provisions of Companies Act
applicable in India. The Company is primarily engaged in the business of Trading in Shares and Securities
and Properties.

(2) Statement of Compliance with IND AS

These financial statements are prepared on going concern basis in accordance with Indian Accounting
Standards (Ind AS) under the histoncal cost convention on the accrual basis except for financial instruments
which are measured at fair values (Refer Note No 1.3(d)). as per the Companies (Indian Accounting
Standards) Rules, 2015 and Companies (Indian Accounting Standards) (Amendment) Rules, 2016 notified
under section 133 of Companies Act, 2013 {the ‘Act’) and other relevant provisions of the Act

Accounting policies have been consistently applied except where a newly issued accounting standards is
initially adopted or a revision to an existing accounting standard requires a change in the accounting policy
hereto in use.

(3) Basis of Preparation of Financial Statements

a) METHOD OF ACCOUNTING

The accounts of the Company are prepared on going concern basis under the Historical Cost Convention
using the accrual method of accounting and complying in all material aspects with the relevant Indian
Accounting Standards (Ind AS) and the relevant provisions prescribed in the Companies Act 2013

b) REVENUE RECOGNITION

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are
accounted for on Accrual basis and except otherwise stated are on the same basis as adopted in the previous
year

(i) SALES AND INCOME:

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title
in the goods and is inclusive of taxes The Sales is shown Gross and discount is debited to kasar-vatav
Account and sales returns are accounted separately

The Income of Interest is accounted on accrual basis.

The Other Income is recognised to the extent and as and when considered / found receivable.

(ii) PURCHASE AND EXPENSES:

The purchases are shown net of taxes and tax set off.

The major items of the expenses are accounted for on time pro-rata basis and necessary provisions for the
same are made

c) FIXED ASSETS:

The Fixed Assets are stated at the cost and the related expenses like freight, taxes and other incidental and
erection expenses are added to asset to bnng asset in working condition for their intended use.

d) DEPRECIATION:

The Depreciation of Fixed Assets is provided based on the useful life of an asset in the manner prescibed in
Schedule II to the Companies Act, 2013.

e) INVESTMENTS:

The investments are recorded at Fair Value and are exclusive of related expenses less any provision for
permanent diminution in value.

f) INVENTORY:

Valuations of Inventones are at the Cost or Net Realisable Value whichever is less

g) RETIREMENT BENEFITS:

Gratuity and Provident Fund Act are not applicable to the Company hence provision is not made.

h) USE OF ESTIMATES :

The Preparation of financial Statements requires the management to make estimates and assumptions
considered in reported amount of assets and liabilities (including contingent liabilities) as on the date of the
financial statements and reported income and expenses during the reporting period The management
believes that the estimates used in the preparation of the financial statements are prudent and reasonable

i) BORROWING COSTS:

Borrowing Costs directly attributable to the acquisition, construction and production of qualifying assets are
capitalised as part of the Cost of such assets All other borrowing costs are charged to the Statement of Profit
and Loss

j) TAXATION:

Provision for current tax is computed as per Estimated Total Income in accordance with the provisions of
Income Tax Act 1S61 taking into account available deductions and exemptions.

K> DEFERED TAX

Deferred Tax is recognised subject to the consideration of prudence in respect of deferred tax assets, on
timing difference, being the difference between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent period

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Mar 31, 2014

A) METHOD OF ACCOUNTING :

The accounts of the Company are prepared under the Historical Cost Convention using the accrual method of accounting.

The Accounts have been prepared on Mercantile Method of Accounting.

b) REVENUE RECOGNITION :

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are accounted for on Accrual basis and except otherwise stated are on the same basis as adopted in the previous year.

(i) SALES AND INCOME :

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title in the goods and is inclusive of taxes. The Sales is shown Gross and discount is debited to kasar-vatav Account and sales returns are accounted separately.

The Income of Interest is accounted on accrual basis.

The Other Income is recognised to the extent and as and when considered / found receivable.

(ii) PURCHASE AND EXPENSES :

The purchases are shown net of taxes and tax set off.

The major items of the expenses are accounted for on time pro-rata basis and necessary provisions for the same are made.

c) FIXED ASSETS :

The Fixed Assets are stated at the cost and the related expenses like freight, taxes and other incidental and erection expenses are added to asset to bring asset in working condition for their intended use.

d) DEPRECIATION :

The Depreciation of Fixed Assets is provided as per the Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956.

e) INVESTMENTS :

The investments are shown at cost and are inclusive of related expenses less any provision for permanent diminution in value.

f) INVENTORY :

Valuations of Inventories are at the Cost or Net Realisable Value whichever is less.

g) RETIREMENT BENEFITS :

Gratuity and Provident Fund Act are not applicable to the Company hence provi- sion is not made.

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Mar 31, 2013

A) METHOD OF ACCOUNTING:

The accounts of the Company are prepared under the Historical Cost Convention using the accrual method of accounting.

The Accounts have been prepared on Mercantile Method of Accounting

b) REVENUE RECOGNITION

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are accounted for on Accrual basis and except otherwise stated are on the same basis as adopted in the previous year.

(i) SALES AND INCOME:

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title in the goods and is inclusive of taxes. The Sales is shown Gross and discount is debited to kasar-vatav Account and sales returns are accounted separately

The Income of Interest is accounted on accrual basis

The Other Income is recognized to the extent and as and when considered / found receivable

(c) PURCHASE AND EXPENSES:

The purchases are shown net of taxes and tax set off

The major items of the expenses are accounted for on time pro-rata basis and necessary provisions for the same are made

c) FIXED ASSETS:

The Fixed Assets are stated at the cost and the related expenses like freight, taxes and other incidental and erection expenses are added to asset to bring asset in working condition for their intended use

d) DEPRECIATION:

The Depreciation of Fixed Assets is provided as per the Straight Line Method at the rates specified in Schedule XIV of the Companies Act, 1956.

e) INVESTMENTS:

The investments are shown at cost and are inclusive of related expenses less any provision for permanent diminution in value.

f) INVENTORY:

Valuation of Inventories are at the Cost or Net Realizable Value whichever is less.

g) RETIREMENT BENEFITS:

Gratuity and Provident Fund Act are not applicable to the Company hence provision is not made.

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Mar 31, 2012

A) METHOD OF ACCOUNTING:

The accounts of the Company are prepared undei the Historical Cost Convention using the accrual method of accounting

The Accounts have beert prepared on Mercantile Method of Accounting

b) REVENUE RECOGNITION

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are accounted for on Accrual basis and except otherwise stated are on the same basts as adopted in the previous year.

(c) SALES AND INCOME:

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title in the goods and is inclusive of taxes The Sates is shown Gross and discount is debited 1o kasat vatav Account and sales returns is accounted separately

The Income of Interest is accounted on accrual basis.

The Other fncome is recognised to the extent and as and when considered / found receivable

(ii) PURCHASE AND EXPENSES:

The purchases are shown net of taxes and tax set off.

The major items of the expenses are accounted for en lime pro-rata basis and necessary provisions for the same are made.

c) FIXED ASSETS:

The Fixed Assets are stated at the cost and the related expenses like freight taxes and other incidental and erection expenses are added to asset to bring asset in working condition for their intended use.

d) DEPRECIATION:

The Depreciation of Fixed Assets ts provided as per the Straight Line Method at the rates specified in Schedule XIV of the Companies Acl. 1956,

e) INVESTMENTS:

The investments are shown at cost and are inclusive ot related expenses less any provision for permanent diminution in value

f) INVENTORY:

Valuation of Inventories are ai the Cost or Net Realisable Value whichever is less.

g) RETIREMENT BENEFITS:

Gratuity and Provident Fund Act are not applicable to the Company hence provision is not made.

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Mar 31, 2010

A) METHOD OF ACCOUNTING

The accounts of the Company are prepared under the Historical Cost Convention using the acrual method of accounting.

The Accounts have been prepared on Mercantile Method of Accounting.

b) REVENUE RECOGNITION

All Incomes to the extent considered receivable respectively, unless specifically stated to be otherwise are accounted for on Accrual basis and except otherwise stated are on the same basis as adopted in the previous year.

(i) SALES AND INCOME:

The Sales are recorded when Bill of sale received in accordance with the terms of sales and on change of title in the goods and is inclusive of taxes. The Sales is shown Gross and discount is debited to kasar-vatav Account and sales returns is accounted seperately.

The Income of Interest is accounted on accrual basis.

The Other Income is recognised to the extent and as and when considered / found receivable.

(ii) PURCHASES AND EXPENSES:

The purchases are shown net of taxes and tax set off.

The major items of the expenses are accounted for on time pro-rata basis and necessary provisions for the same are made.

c) FIXED ASSETS:

The fixed Assets are stated at the cost and the related expenses like freight, taxes and other incidental and exection expenses are added to asset to bring asset in working condition for their intended use.

d) DEPRECIATION:

The Depreciation of Fixed Assets is provided as per the Straight Line Method at the rate specified in Schedule XIV of the Companies Act, 1956.

e) INVESTMENTS :

The investments are shown at cost and are inclusive of related expenses less any provision for permanent diminution in value.

f) INVENTORY:

Valuation of Inventories are at the Cost or Net Realisable Value whichever is less.

g) RETIREMENTS BENEFITS:

Gratuity and Provident Fund Act are not applicable to the Company hence provision is not made.