SAI PRIYA ESTATES & RESORTS LIMITED

(CIN : U70102TG1994PLC124105)
10-2-10, G 10, AC GUARDS, LAKADIKAPOOL, HYDERABAD, TELANGANA-500004

Significant Accounting Policies & Notes on Accounts

1. Basis of Accounting
The Company follows accrual systems of accounting in the preparation of accounts.

2. Fixed Assets
Fixed assets are capitalised at cost inclusive of direct & appropriate allocated expenditure

3. Depreciation
Depreciation on fixed assets has been provided as per Schedule-II of Companies Act 2013 in
Written Down value Method

4. Revaluation of Fixed Assets

No Revaluation of Fixed Assets has been done during the financial Year.

5. Inventories
Inventories Has been Valued at Cost or market price whichever is lower as certified by
management

6. Taxes on Income
Current tax is provided for on the taxable profit of the year at applicable tax rates.

7. Borrowing Cost
Borrowing cost is charged to the profit & loss a/c for the year in which it is incurred except for
eligible capital asset which is capitalised till the date of commercial use of asset

8. Sundry Debtors, Creditors and Other Loans & Advances

Sundry debtors and other Current Assets are stated after making adequate provision for bad and
doubtful debtors. All liabilities to supplier and others as at the year has been accounted and the
amounts appearing as at the end of the year are the amounts actually payable. Confirmations are
being obtained wherever management feels necessary.

9. Payment to Statutory Authorities

GST has been recognised as per Sec 43B of the Income Tax Act ,1961

10. Notes on Accounts

1.Figures are regrouped where ever necessary and rounded off to nearest rupee.2.The
identification of Micro, Small and Medium enterprises suppliers as defined under the enterprise
supplier as defined under the Micro, Small and Medium enterprises Development Act, 2006 is
 based on management’s knowledge of their status. There are no dues to Micro, small and Medium
enterprises as on the date of balance sheet.3.The assessee is not maintaining any register or
record for analysis of purchases and expenses from registered or unregistered dealers since the
same is not mandatory required under Income Tax Act or Goods and Service Tax Act or under any
other statutes. Further as per the Accounting entries done in Accounting Software, it is not
possible to extract details.

FOR SAI PRIYA ESTATES & RESORTS LIMITED

D.R.K.PRASAD
(Director)
( DIN - 00648821)

Place : VISAKHAPATNAM
Date : 05/07/2023