2.5 Provisions, contingent liabilities and contingent assets
Contingent liability :

A possible obligation that arises from past events and the existence of which will be confirmed only by the
occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company are disclosed as contingent liability and not provided for. Such liability is not disclosed if the possibility
of outflow of resources is remote.

Contingent assets :

A contingent asset is a possible asset that arises from past events and whose existence will be confirmed only by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the
Company. Contingent assets are not recognised and disclosed only when an inflow of economic benefits is
probable.

Provisions :

A provision is recognized when as a result of a past event, the Company has a present obligation whether legal
or constructive that can be estimated reliably and it is probable that an outflow of economic benefits will be
required to settle the obligation. If the obligation is expected to be settled more than 12 months after the end of
reporting date or has no definite settlement date, the provision is recorded as non-current liabilities after giving
effect for time value of money, if material. Where discounting is used, the increase in the provision due to the
passage of time is recognized as a finance cost.

2.6 Revenue Recognition

Revenue is recognized based on nature of activity when consideration can be reasonably measured and there
exists reasonable certainty of its ultimate collection.

b) Interest Income is recognised on time proportion basis.

2.7 Income taxes

Income tax expense comprises current and deferred tax expense. Income tax expenses are recognized in
statement of profit and loss, except when they relate to items recognized in other comprehensive income or
directly in equity, in which case, income tax expenses are also recognized in other comprehensive income or
directly in equity respectively.

Current tax is the tax payable on the taxable profit for the year, using tax rates enacted or substantively enacted
by the end of reporting period by the governing taxation laws, and any adjustment to tax payable in respect of
previous periods. Current income tax assets and liabilities are measured at the amount expected to be
recovered from or paid to the taxation authorities. Management periodically evaluates positions taken in the tax
returns with respect to situations in which applicable tax regulations are subject to interpretation and
establishes provisions where appropriate.

Deferred taxes arising from deductible and taxable temporary differences between the tax base of assets and
liabilities and their carrying amount in the financial statements are recognized using substantively enacted tax
rates and laws expected to apply to taxable income in the years in which the temporary differences are
expected to be received or settled.

Deferred tax asset are recognized only to the extent that it is probable that future taxable profit will be available
against which the deductible temporary differences can be utilized. The carrying amount of deferred tax assets
is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable
profit will be available to allow all or part of the deferred income tax assets to be utilized.

2.8 Earnings Per Share

a) Basic earnings per share are calculated by dividing the net profit for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.

b) For the purpose of calculating diluted earnings per share, the net profit for the period attributable to equity
shareholders and the weighted average number of shares outstanding during the period are adjusted for the
effects of all dilutive potential equity shares, if any.

2.9 Borrowing cost

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which
are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added
to the cost of these assets, until such time as the assets are substantially ready for their intended use or sale.

All other borrowing costs are recognised in statement of profit and loss in the period in which they are incurred.

2.10 Segment Reporting

The Company has only one preliminary reportable segment i.e. commission income hence there is no separate
reportable segments as required in Ind AS 108 issued by ICAI.

2.11 Depreciation

Depreciation on tangible fixed assets is provided using the Straight Line Method based on the useful life of the
assets as estimated by the management and is charged to the Statement of Profit and Loss as per the
requirement of Schedule II of the Companies Act, 2013. In case of additions or deletions during the year,
depreciation is computed from the month in which such assets are put to use and up to previous month of sale
or disposal, as the case may be.

2.12 Recent accounting pronouncements

The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. On 12 August 2024, MCA amended
the Companies (Indian Accounting Standards) Amendment Rules, as below.

Amendments to Ind AS 117

MCA notified Ind AS 117 a comprehensive standard that prescribe, recognition,measurement and disclosure
requirements, to avoid diversities In practice for accounting Insurance contracts and It applies to all companies
i.e.. to all insurance contracts regardless of the issuer. However Ind AS 117 is not applicable to the entities
whose are insurance companies registered with IRDAI.

Additionally,amendments have been made to Ind AS 101 First time Adoption of Indian Accounting Standards Ind
AS 103 Business Combinations.

AS 105 Non-current Assets Held for Sale and Discontinued Operations, Ind AS 107 Financial Instruments:
Disclosures ,Ind AS 109 Financial Instruments and Ind AS 115 Revenue from Contracts with Customers to align
them with Ind AS 117 The amendments also Introduce enhanced disclosure requirements,particularly In Ind AS
107, to provide clarity regarding financial Instruments associated with Insurance contracts.

Amendments to Ind AS 116

The amendments require an entity to recognise lease liability including variable lease payments which are not
linked to index or a rate In a way It does not result Into gain on Right or use asset It retains.

The Company has reviewed the new pronouncements and based on its evaluation has determined that these
amendments do not have a significant impact on the Company's Financial Statements.

Notes to Accounts

Note-1 :-

The current ratio is decreased in current year mainly due to increase in trade payables and other current liabilities.

Note-2 :-

The increase in ratio is primarily due to improvemet in net profit of the company.

Note-3 :-

The net capital turnover ratio increased primarily due to increase in sales during the current year.

Note-4 :-

The net profit ratio increased in current year mainly due to increase in revenue from operations.

Note-5 :-

The net profit ratio increased in current year mainly due to increase in net profit of the company.

25 Contingent liabilities

Contingent liability is a possible obligation arising from past events and whose existence will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly within the control of the entity or a present obligation that arises from past events
but is not recognized because it is not probable that an outflow of resources embodying economic benefits will be required to settle the obligation
or the amount of the obligation cannot be measured with sufficient reliability.

The claims against the Company primarily represent demands arising on completion of assessment proceedings under the Income Tax Act, 1961.
These claims are on account of multiple issues of disallowances such as disallowance includes Unexplained cash credit, Expenditure for Business
Purpose, increase in share capital, Interest u/s 234A/B/Penalty u/s 271(1)(c). These matters are pending before various Income Tax Authorities.
Company has filed Appeal to the Commissioner of Income-tax (Appeals) and Disagree with demand(Either in Full or Part).

26 Segment information

As per Ind AS108 'operating segments', specified under section 133 of the Companies Act,2013, the Company is predominantly engaged in single
reportable segment of event management. Accordingly, there is no separate reportable segment.

27 Balances of Trade Payables, Unsecured Loans, Trade Receivables, In-operative bank accounts, Other Current and Other Non Current Assets and
Provisions are subject to the confirmation of the parties concerned. Wherever confirmation of the parties for the amounts due to them / amounts
due from them as per books of accounts are not received, necessary adjustments, if any, will be made when the accounts are reconciled / settled.

28 Previous year's figures have been regrouped or reclassified wherever required.

As per our report of even date For and on behalf of the Board of Directors

For, MAAK and Associates of Madhuveer Com 18 Network Ltd.

Chartered Accountants
Firm Reg. No: 135024W

Sd/- Sd/-

Dhruvin Shah Sagar Shah

Managing Director Additional Director

DIN:08801616 DIN:03082957

Sd/- Sd/- Sd/-

Marmik Shah Punitkumar J Bhavsar Shruti Sharma

Partner Chief Financial Officer Company Secretary

Membership No. 133926 DIN: 08987296 PAN: FLPPS1085G

Place :- Ahmedabad Place :- Ahmedabad Place :- Ahmedabad

Date :- 30/05/2025 Date :- 30/05/2025 Date :- 30/05/2025

UDIN :- 25133926BMJGYX9118