Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when
there is a present obligation as a result of past events, and it is probable that there will be an
outflow of resources. Liabilities which are of contingent nature are not provided but are
disclosed at their estimated amount in the notes forming part of the accounts.

Investment

Investments that are readily realizable and intended to be held for not more than a year from
the date on which such investments are made, are classified as current investments. All other
investments are classified as long-term investments. Current investments are measured at cost
or market value whichever is lower, determined on an individual investment basis. Long Term
Investments are stated at cost. Provision for diminution in the value of long-term investment is
made only if such a decline is other than temporary.

Event occurring after the Balance Sheet Date

No significant events which could affect the financial position as on 31st March, 2024, to a
material extent have been reported by the management, after the Balance Sheet date till the
date of Annual General Meeting.

Prior period Items

Prior period expenses/income is accounted for under respective heads. Material items, if any,
are disclosed separately by way of note.

Income taxes

Provision for current tax is made on the basis of estimated taxable income for the current
accounting year in accordance with the Income-tax Act, 1961. Current tax assets and current
tax liabilities are offset when there is a legally enforceable right to set off the recognized
amounts, and there is an intention to settle the asset and the liability on a net basis. The
deferred tax for timing differences between the book and tax profits for the year is accounted
for, using the tax rates and laws that have been substantively enacted as of the reporting date.

Deferred tax charge or credit reflects the tax effects of timing differences between accounting
income and taxable income for the period. The deferred tax charge or credit and the
corresponding deferred tax liabilities or assets are recognized using the tax rates that have been
enacted or substantively enacted by the balance sheet date. Deferred tax assets are recognized
only to the extent there is reasonable certainty that the assets can be realized in future;
however, where there is unabsorbed depreciation or carry forward of losses, deferred tax assets
are recognized only if there is a virtual certainty of realization of such assets. Deferred tax assets
are reviewed at each balance sheet date and are written-down or written up to reflect the
amount that is reasonably/virtually certain (as the case may be) to be realized. Company has
not recorded deferred tax asset or liability during current reporting year.

Preliminary Expenses

No Preliminary expenses written off during the year.

Earnings Per Share

The earning considered in ascertaining the Company's Earnings Per Share (EPS) comprises the
net profit after tax. The number of shares used in computing Basic and diluted EPS is weighted
average number of shares outstanding during the year as per the guidelines of AS-20 and
calculation of EPS is shown in notes to account.

Contingent Liability

According to the information & explanation provided by the company, there is no liability of
Contingent nature was outstanding as at 31st March, 2024.

Capital Expenditure Commitment

There is no capital expenditure commitment.

Related Party Transactions

As per Accounting Standard (AS -18) issued by the Institute of Chartered Accountants of India,
the disclosures of transactions with the related parties are given below: List of related parties
where control exists and related parties with whom transactions have taken place and
relationships:

Earnings per Share

The earning considered in ascertaining the company's EPS comprises the profit available for
shareholders i.e. profit after tax and statutory/regulatory appropriations. The number of shares
used in computing Basic EPS is the weighted average number of shares outstanding during the
year as per the guidelines of AS-20 (Kindly verify the Profit & Loss Account for Details).

Other

a) In opinion of the management of the company, all loans, advances, and deposits are
recoverable in cash or kind for value to be received for which no provision is required.

b) Confirmations of the concerned parties for the amount due to them and/or due from
them as per accounts of the company are not received. Necessary adjustments, if any, will
be made when accounts are reconciled or settled. Balance of sundry debtors and
creditors, loans and advances accepted and given in the balance sheet are subject to
confirmation.

c) The previous year's figures have been reworked, regrouped, rearranged and reclassified
wherever necessary. Amounts and other disclosures for the preceding year are included
as an integral part of the current year financial statements and are to be read in relation
to the amounts and other disclosures relating to the current year.

Rounding off amounts

All amounts disclosed in the financial statements and notes have been rounded off to the
nearest lakhs as per the requirement of Schedule III, unless otherwise stated

For SUN RETAIL LIMITED As per my attached report of even date

For, N.S. NANAVATI & CO.,
Chartered Accountants
Firm No. 134235W

DHARAMJIT MORI
(Whole-Time Director & CFO)

(DIN- 08038027)

Parin Bhavsar RAKESH KAPADIA (CA NITESH NANAVATI)

^(CS) ^(Director) (Proprietor)

Place: Ahmedabad (DIN- 09361904) M No: - 143769

^Date: 30.05.2024 UDIN: 24143769BKFPCD4017

Place: Ahmedabad
Date: 30.05.2024