Provisions
Provisions are recognised when, as a result of a past event, the Company has a legal or constructive
obligation; it is probable that an outflow of resources will be required to settle the obligation; and the
amount can be reliably estimated. The amount so recognised is a best estimate of the consideration required
to settle the obligation at the reporting date, taking into account the risks and uncertainties surrounding the
obligation. In an event when the time value of money is material, the provision is carried at the present
value of the cash flows estimated to settle the obligation.
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.
The company measures the expected credit loss associated with its assets based on historical trend, industry
practices and the business environment in which the entity operates or any other appropriate basis. The
impairment methodology applied depends on whether there has been a significant increase in credit risk.
Loans & Borrowings
This is the category most relevant to the Company. After initial recognition, interest-bearing loans and
borrowings are subsequently measured at amortised cost using the EIR method.
Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or
costs that are an integral part of the EIR. The EIR amortisation is included as finance costs in the statement
of profit and loss.
Cash and Cash equivalents
Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term deposits
with an original maturity of three months or less, which are subject to an insignificant risk of changes in
value.
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 the Financial Statements
18. In the opinion of the Board the current assets, loans and advances are not less than the stated value if realised in
ordinary course of business. The provisions for all known liabilities are adequate. There are no contingent
liabilities, as informed by the management.
19. The Business of the company falls under a single segment i.e. Financial Activities. In view of the general
classification notified by Central Government in exercise of powers conferred u/s 129 of Companies Act, 2013
for companies operating in single segment, the disclosure requirement as per Ind AS - 108 on “Segment
Reporting” are not applicable to the company. The company’s business is mainly concentrated in similar
geographical, political and economical conditions; hence disclosure for geographical segment is also not
required.
22. None of the sundry creditors are Micro and Small Enterprises under “Micro, Small and Medium Enterprises
Development Act, 2006”. Hence, disclosures related to amount unpaid etc., are not applicable.
23. There is no amount to be credited to Investors Education and Protection Fund as on 31st March 2024.
24. The figures of previous year have been reclassified and regrouped wherever considered necessary.
Additional Regulatory Information :
25. No proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
26. The company has not borrowed any money from banks or financial institutions on the basis of security of current assets during the reporting
financial year.
27. The Company is not declared wilful defaulter by the bank or financial Institution or other lender.
For BISWAS DASGUPTA DATTA AND ROY For Hi-Klass Trading And Investments Limited
Chartered Accountants
Registration No : 302105E
Sanjay Kumar Jain Sonu Agarwal
Managing Director Director
(FCA Kakoli De Sarkar) DIN : 00415316 DIN : 09065415
Partner
Membership no : 302910 For Hi-Klass Trading And Investments Limited
UDIN: 24302910BKDTRW2866
Date : 28th May 2024 Pravin K Chopda Neha Kedia
Place : Mumbai CFO Company Secretary
PAN : AABPC1906< PAN : CFMPK6996Q
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