Kome-on Communication Ltd. நிறுவனத்தின் கணக்கியல் கொள்கைகள்

Mar 31, 2025

Significant Accounting Policies and Notes thereon Corporate information:

KOME-ON COMMUNICATION UMITED (the company) is a Public limited company domiciled in India and incorporated underthe provisions of the Companies Act, Corporate Identity Number: L74110GJ1994PLC021216

SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES AND KEY ACCOUNTING ESTIMATES AND JUDGEMENTS

a.    Statement of compliance:

The financial statements have been prepared in accordance with Indian Accounting Standards (‘Ind AS') notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Indian Accounting Standards) (Amendment) Rules, 2016 and other relevant provisions of the Act. The accounting policies adopted in the preparation of financial statements are consistent with those of previous period.

b.    Basis of preparation of financial statements

In accordance with the notification issued by the Ministry of Corporate Affairs, the Company is required to prepare its Financial Statements as per the Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 as amended by the Companies (Accounting Standards) Amendment Rules, 2016 with effect from 1st April, 2016. Accordingly, the Company has prepared these Financial Statements which comprise the Balance Sheet as at 31st March, 2025, the Statement of Profit and Loss, the Statement of Cash Flows and the Statement of Changes in Equity for the year ended 31st March, 2025, and a summary of the significant accounting policies and other explanatory information (together hereinafter referred to as "Financial Statements").

These financial statements have been prepared and presented under the historical cost convention, on accrual basis of accounting except for certain financial assets and financial liabilities that are measured at fair values at the end of each reporting period, as stated in the accounting policies set out below. The accounting policies have been applied consistently over all the periods presented in these financial statements

The financial statements are presented in Indian Rupees ('INR') and all values are rounded to the nearest Thousands, except otherwise indicated.

Previous yearfigures have been regrouped and rearranged to make them comparable with the current yearfigures.

c.    Use of estimates and judgements

The preparation of the financial statements requires that the Management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities as at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The recognition, measurement, classification or disclosure of an item or information in the financial statements is made relyingon these estimates.

The estimates and judgements used in the preparation of the financial statements are continuously evaluated by the Company and are based on historical experience and various other assumptions and factors (including expectations of future events) that the Company believes to be reasonable under the existing circumstances.

Actual results could differ from those estimates. Any revision to accounting estimates is recognised prospectively in current and future periods.

a.    Earnings per share

Basic earnings per share is computed by dividing the profit/(loss) for the year by the weighted average number of equity shares outstanding during the year. The weighted average number of equity shares outstanding during the year is adjusted for treasury shares, bonus issue, bonus element in a rights issue to existing shareholders, share split and reverse share split (consolidation of shares).

Diluted earnings per share is computed by dividing the profit/(loss) for the year as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes) relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share and the weghted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as at the beg inning of the period, unless they have been issued at a later date.

b.    Cash flew/ statement

Cash Flows are reported using the indirect method, whereby profit before tax is adjusted for the effects of transaction of a non-cash nature, any deferrals, or accruals of past or future operating cash receipts or payments and item of income and expenses associated with investing or financing cash flows. The cash flows from operating, investing, and financing activities of the companyare segregated.

c.    Provisions, Contingent Liabilties & Contingent Assets

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, and it is probable that the Company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

The amount recognized as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognized as asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably

d.    Cash and cash equivalent

Cash and cash equivalents in the balance sheet comprise cash at banks and on hand and demand deposits with an original maturity of three months or less and highly liquid investments that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value net of outstanding bank overdrafts as they are considered an integral part of the Company's cash management

e.    Event occurring after the date of balance sheet

Where material event occurring after the date of the balance sheet are considered up to the date of approval of accounts by the board of director

f.    Recoverability of trade receivables

Required judgements are used in assessing the recoverability of overdue trade receivables and for determining whether a provision against those receivables is required. Factors considered indude the credit rating of the counterparty, the amount and timing of anticipated future payments and any possible actions that can be taken to mitigate risk of nonpayment

g. Loans & advances and Receivables & Payables

No Loans and advances given during the year

h. Property, Plant and Equipment (PPE) & Intangible Assets The Company does not hold any Property, Plant and Equipment.

No immovable property was held by the company during the financial year The Company does not hold any intangible assets.

I. Inventories

The Company did not hold any inventories duringthe year.

j.    Statutory Dues

The Company is generally regular in depositing undisputed statutory dues, such as Income Tax, with appropriate authorities.

The Company is not liable for Goods and Service Tax (GST), Provident Fund, or Employees' State Insurance (ESI)

No undisputed arrears of statutory dues were outstanding as of 31st March 2025 fora period exceeding six months.

k.    Other Required Disclosures Related Party Transactions

All transactions with related parties are in compliance with Sections 177 and 188 of the Companies Act, 2013, and have been disclosed in the financial statements as required by applicable Accounting Standards.

Going Concern

Based on financial ratios and management plans, there is no material uncertainty indicating that the Company is incapable of meeting its liabilities existing at the balance sheet date as and when they fall due within one year.