1.19 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 Hj’i^^^^^i^ofresources. Contingent liabilities

1.20 Revenue recognition

, Income from services rendered is recognised based on agreements/arrangemenls with the customers as the servrce

^ performed using the proportionate completion method when no significant uncertainty exists regarding the
amount of the consideration that will be derived from rendering the service and is recognised net of serv.ee tax, as
appl,cable. Sales are recognised, net of return* and trade discounts. Interest Income is recognited on a rime
proportion basis taking into account the amount outstanding and the rate applicable.

1.21 Employee benefits

Short term employee benefits are recognised as an expense at the undiscounted amount in the Statement of Profit

- Thecontributions remitted to government administered
Provident and Penslon fund on behalf of its employees in accordance with the relevant statute are charged to the

Ld benems ” “ ^ ^{ThC Company has no further} obligations for future Provident/ Pension

1.22 Earnings per share

Basic and diluted earnings per share is computed by dividing the net profit attributable to equity shareholders for

^{e Vear};.^byj,^{he we,ghted average number of} shares outstanding during the year. The number of shares and
potentially d.lut.ve equity shares are adjusted retrospectively for all periods presented for any share splits and bonus
shares issues Including for changes effected prior to the approval of the financial statement by the board of director

1.24 Taxes on income

Tax expense comprises current and deferred tax. Current tax is the amount of tax payable on the taxable income for
the year as determined in accordance with the provisions of the Income Tax Act. 1961.

(*

Deferred Taxes reflect the impact of timing differences between taxable income and accounting income originating
during the current year and reversal of timing differences for the earlier years Deferred tax is measured using the
tax rates and the tax laws enacted at the reporting date

1.25 Operating cycle

Based on the nature of products / activities of the Company and the normal time between acquisition of assets and
their realitation in cash or cash equivalents, the Company has determined its operating cycle as 12 months for the
purpose of classification of its assets and liabilities as current and noncurrent.

1.26 Related party disclosures: Disclosure in accordance with Accounting Standard-18 Related Party transaction
during the year.

l.B Majority of the sales/ services and revenue expenses have been made through associates or jointly.

1-28 The amount of Trade Receivables of INR 7.85,156 in Schedule 2.10 and short term loans and advances of INR
17,40,000 in Schedule 2.12 are yet to be confirmed by the respective parties

For ARMS & ASSOCIATES. For and on behalf of Board *

v-hartered Accountants
Firm Regn No. 013019N
UDIN

..... Vishal Mishra Hariom P Agrawal

Pradecp Midha (Managing Director) pirector)

< Partner) | DIN: 03363363 DIN: 03562889

. Membership No: 014275 /S*’

Place: Mathura

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