1.15. Provisions, contingent liabilities,
contingent assets:
A provision is recognised when the Company
has a present obligation (legal or constructive)
as a result of past event and it is probable that an
outflow of resources will be required to settle
the obligation, in respect of which a reliable
estimate can be made. If the effect of time value
of money is material, provisions are discounted
using a current pre-tax rate that reflects, when
appropriate, the risk specific to the liability.
When discounting is used, the increase in the
provision due to the passage of time is
recognised as a finance cost. These are reviewed
at each balance sheet date and adjusted to
reflect the current best estimates.
A disclosure for a contingent liability is made
when there is a possible obligation or a present
obligation that may, but probably will not
require an outflow of resources. When there is a
possible obligation or a present obligation in
respect of which likelihood of outflow of
resources is remote, no provision or disclosure
is made.
The Company does not recognize a contingent
asset but discloses its existence in the financial
statements if the inflow of economic benefits is
probable. However, when the realisation of
income is virtually certain, then the related asset
is no longer a contingent asset, but it is
recognized as an asset.
Provisions, contingent liabilities, contingent
assets and commitments are reviewed at each
balance sheet date
1.17 Earnings per share:
Basic earnings per share are computed using
the net profit for the year attributable to the
shareholders' and weighted average number of
shares outstanding during the year. Company
has not issued any compulsory convertible
preference shares or debentures. The weighted
average numbers of shares also include fixed
number of equity shares that are issuable on
conversion of compulsorily convertible
preference shares, debentures or any other
instrument, from the date consideration is
receivable (generally the date of their issue) of
such instruments. However, company has not
issued any compulsory convertible Preference
shares, Debentures or any other instruments as
on 31.03.2024.
Diluted earnings per share is computed using
the net profit for the year attributable to the
shareholder' and weighted average number of
equity and potential equity shares outstanding
during the year.
1.18 Financial instruments:
A financial instrument is any contract that
gives rise to a financial asset of one entity and
a financial liability or equity instrument of
another entity. Financial assets and financial
liabilities are initially measured at fair value.
Transaction costs that are directly
attributable to the acquisition or issue of
financial assets and financial liabilities (other
than financial assets and financial liabilities
at fair value through profit or loss) are added
to or deducted from the fair value of the
financial assets or financial liabilities, as
appropriate, on initial recognition.
Transaction costs directly attributable to the
acquisition of financial assets or financial
liabilities at fair value through profit or loss
are recognized immediately in profit or loss.
2. OTHER ADDITIONAL INFORMATION
FORMING PART OF FINANCIAL STATEMENT
I. Contingent Liability
(a) Contingent Liability in connection with
Gratuity benefit as per actuarial valuation
towards future liability amounts to
Rs. 31,35,270/- Provided the same
employees remain in the company until
their retirement. The current liability of
Rs. 9.07 Lakhs has been provided in the
financial statement.
II. Capital Commitment: NIL
III. The outstanding balance of assets and
liabilities are accepted as they appear in the
books of accounts and are subject to
reconciliation / adjustments, if any, and
confirmation by respective parties.
IV. Segment Reporting:
The Company has one reportable business and
geographical segment and hence no further
disclosure is required under IND AS- 108 on
Segment Reporting.
V. Related Parties Disclosures under IND AS 24:
Dr. Mani L. S. - Director & CS
Shri N K Menon - Director
CA. Vasant Bhat - Independent Director
Shri A. Krishnakumar - Independent Director
Mrs. Vijaya Mani - Director's relative
Bueno Healthcare P. L. - Related Party
VII. Previous year's figures have been regrouped and recast wherever necessary to conform to the
current year classification.
FOR AND ON BEHALF OF THE BOARD
For VORA & ASSOCIATES
CHARTERED ACCOUNTANTS
(ICAI FRNo.: 111612W)
MAYUR A. VORA DR. MANI L. S. MR. N. K. MENON GANESH CHITTE
PARTNER DIRECTOR DIRECTOR & CEO CFO
(Membership No.: 030097) DIN NO. 00825886 DIN NO. 01111297
Place: Mumbai
Date: 29th May,2024
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