Shreeji Global FMCG Ltd. कंपली की लेखा नीति

Mar 31, 2024

(A) Accounting Policies

1. Basis of Prepat ion of Financial Statements

* The Financial Statements of the Company have been prepared in accordance with the Generally Accepted
Accounting Principles In India (GAAP) to comply with the Accounting Standards specified under section 133 of the
Companies Act, 2013 read with Rule 7 of the companies (Accounts) Rules, 2014 and the relevant provisions of the
companies Act, 2013. The Financial Statements have been prepared on accrual basis under the Historical cost
convention. The accounting policies adopted In the preparation of the Financial statements are consistent with those
followed In the previous year.

* All Assets and Liabilities have been classified as current or non-current as per the company''s normal operating
cycle and other criteria set out In the Schedule III to the Companies Act, 2013. Based on the nature of products and
time between the acquisition of assets for processing and their realization In cash and cash equivalents, the
company has ascertained Its operating cycle as less than 12 months for the purpose of current and non-current
classification of assets and liabilities.

2. Revenue Recognition

* Sale of GoodsSales are recognized when significant risk and rewards of ownership of goods have been
passed to the buyer, recovery of the consideration is probable, the associated cost can be estimated reliably and
the amount of revenue can be measured reliably.

* interestt Revenue Is recognized on a time proportion basis talcing Into account the amount outstanding and
the rate applicable.

3. Property Plant and Equipment

* All the Items of Property, Plant & Equipments are stated at historical cost net of recoverable taxes, less
accumulated depreciation and Impairment loss, If any. The cost of Fixed Assets comprises its purchase price or
construction cost, any costs directly attributable to bringing the asset Into Its present location and the condition
necessary for It to be capable of operating In the manner Intended by the management, and also taking Into
account the Initial estimate of any decommissioning obligation, if any, and Borrowing Cost for the assets that
necessarily take a substantial period of time to get ready for their Intended use. Subsequent costs are included In
the asset’s carrying amount or recognized as a separate asset, as appropriate, only when It Is probable that future
economic benefits associated with the Item will flow to the company and the cost of the Item can be measured
reliably.

* Gains or losses arising from de-recognition / disposal of a Fixed Asset are measured as the difference between
the net disposal proceeds and the carrying amount of the asset and are recognized In the Statement of Profit and
Loss when the asset Is derecognized / disposed off.

4. Depreciation

Depreciation is provided to the extent of depreciable amount on Written Down Value method on the basis of useful
life/ remaining useful life and In the manner specified in part "C" of Schedule II of the Companies Act, 2013.
Depreciation on additions to assets or on sale / disposal of assets is provided for on pro-rata basis depending upon
the period used during the year.

5. Investments :-

Company has no Investments.

6. Inventories

Inventories of Raw Materials and Finished Goods are stated at cost or net realizable value, whichever Is lower. Cost
comprises all cost of purchase, cost of conversion and other costs Incurred In bringing the inventories to their
present location and condition, cost formula used Is First In first out method, due allowance Is estimated and made
for defective and obsolete Items, wherever necessary, based on the past experience of the Company.

7. Employee Benefits

Employee Benefits Such as Provident Fund, ESI, Leave Salary, Bonus etc. are accounted for on accrual basis. And
same Is debited to Profit and Loss account. Provision has not been made In respect of defined benefit plan (Gratuity)
for Employees of the Company based on the actuary valuation required as per AS-15 and amount has not been
accounted for by the company during the year.