L. Provisions:
A provision is recognized when the company has a present obligation as a result of past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and are reliable estimate can be made of the amount of the obligation. Provisions are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates. Where the company expects some or all of a provision to be reimbursed, for example under an insurance contract, the reimbursement is recognized as a separate asset but only when the reimbursement is virtually certain. The expense relating to any provision is presented in the statement of profit and loss net of any reimbursement.
M. Contingent liabilities:
A contingent Liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non occurrence of one or more uncertain future events beyond the control of the company or a present obligation that is not recognized because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because it cannot be measured reliably. The company does not recognize a contingent liability but discloses its existence in the financial statements -Notes to Accounts
N. Borrowing Cost:
Borrowing costs directly attributable for acquisition of qualifying assets are capitalized as part of the asset. The other borrowing costs are charged to revenue as and when they are incurred.
O. Earnings Per Share:
The company reports basic earning per share in accordance with AS-20 "Earning Per Share". Basic earning per share have been computed by dividing net profit after tax by weighted average number of shares outstanding for the year.
P. Cash and cash equivalents:
Cash and cash equivalents for the purposes of cash flow statement comprise cash at bank and in hand and short-term investments with an original maturity of three months or less.
Q. NOTES FORMING PART OF ACCOUNTS:
1. Contingent Liability not provided for in the books Rs. Nil (P.Y. NIL)
2. Estimated amount of contracts remaining to be executed on capital account net of advances is Rs. NIL (Previous year Rs. NIL)
3. The amount of Exchange difference (Net) credited to the profit & Loss Account for the year Rs. Nil.
4. The balances appearing under Sundry Debtors, Sundry Creditors Advances to Suppliers and others are subject to confirmation.
5. Details of remuneration to Managing Director and Whole Time Director
1. The company has not any amount unpaid as at the year end together with interest paid/payable under the Micro, Small and Medium Enterprise Development Act, 2006 and hence disclosures required to be made U/s.22 of the above Act is have not been given.
2. In determining Earning per share as per AS - 20, the Company has considered net profit after tax. The Number of Shares used for determining basic EPS is the weighted Average Number of shares outstanding for the year.
3. No disclosure is required under AS-24 on "Discontinuing Operations” issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.
5. The title deeds of immovable properties are held in the name of the Company.
6. The Company has not revalued any of its Property, Plant and Equipment during the year.
7. No proceedings have been initiated during the year or are pending against the Company at the end of year for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.
8. The Company does not have any borrowings from banks or financial institutions on the basis of security of own current assets.
9. The company has not been declared wilful defaulter by any bank or financial institution or other lender.
10. The Company has not any transactions with companies struck off under section 248 of the Companies Act,2013 during the year.
11. There were no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period at the end of the year.
*There are variances compared to current years of more than 25% due to increase in Profit and increase in Loans in comparison to previous years that has resulted in changes in the ratio.
14. The Company is not covered under section 135 of the Companies Act during the year.
15. There were no transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (43 of 1961).
16. The Company has not traded or invested in Crypto currency or Virtual currency during the financial year.
17. Figures of the previous year have been regrouped and reclassified wherever necessary to confirm to the current year’s classification.
As per our report of even date
For and on behalf of For & On Behalf of the Board
ADV & Associates B-RIGHT REALESTATE LIMITED
Chartered Accountants FRN- 128045W
sd/-
sd/- sd/-
Prakash Mandhaniya Paras Hansrajbhai Desai Sanjay Nathalal Shah
Partner Managing Director Director
Membership No. 421679 DIN :07302022 DIN: 00003142
UDIN- 24421679BKFSVY7831 Date - 27 May 2024 Place- Mumbai
sd/-
sd/-
Gaurav Anand
Jinal Mehta
Company Secretary & Chief Financial Officer
Compliance Officer
| 