2.14 Contingencies and Provisions:

Provisions are recognized when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

Contingent liabilities are recognized only when there is a possible obligation arising from past events, due to occurrence or non-occurrence of one or more uncertain future events, not wholly within the control of the Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of obligation cannot be made. Contingent assets are not recognized in the financial statements.

2.15 Statement of Cash Flow:

Cash flows are reported using the indirect method, whereby profit/(loss) before exceptional items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on available information.

2.16 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

Initial recognition and measurement

All financial assets are initially recognized when the Company becomes a party to the contractual provisions of the instrument. All financial assets are initially measured at fair value plus, in the case of financial assets not recorded at fair value through profit or loss, transaction costs that are attributable to the acquisition of the financial asset.

Subsequent measurement

Classification

For the purpose of subsequent measurement, the Company classifies financial assets in following categories:

Financial assets at amortized cost

Financial assets at amortized cost are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses, if any. Interest income and impairment are recognized in the Statement of Profit and Loss.

Financial assets at fair value through other comprehensive income (FVTOCI)

These assets are subsequently measured at fair value through other comprehensive income (OCI). Changes in fair values are recognized in OC1 and on derecognition, cumulative gain or loss previously recognized in OCI is reclassified to the Statement of Profit and Loss. Interest income calculated using EIR and impairment loss, if any, are recognized in the Statement of Profit and Loss.

Financial assets at fair value through profit or loss (FVTPL)

. any

De-recognition

from^hT^{any dc},^{recognizes 3 financial} ^set when the contractual rights to the cash flows

“Lr_lfii^hc;^{sks and} t-

derecognition is recognized in the Statement of Profit md Loss. ^ea"' ^{l0SS 0}"

Impairment of financial assets

tacil^Tn'S^T^L^' '“^S T^{dd f0r} impairment loss on

has used a practical expedient as permitted under Indian AS T 7^

Financial Liabilities.

Initial recognition and measurement

r^r•

Classification and subsequent measurement

A financi^flaSy^ cSS^Tvm if Hs dalsified as hlld^' t d‘ •

in the Statement of Profit and Loss. ’ ^{mC U m8} ^ ^{lnterest expense}> are recognised

financial liabilities other than classified as fvtpi ~ u i

cost using the effective interest methnd it , ’ ^{L subsec}l^uently measured at amortized

“^dss^Lo*^Any - - ~

De-recognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on subsequently different terms, or the terms of an existing liability are subsequently modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of the new liability. The difference in the respective canying amount is recognize in the Statement of Profit & Loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount presented in the balance sheet when, and only when, the Company currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realise the assets and settle the liabilities simultaneously.

Oflsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount presented in the financials.

!.17 Related Party Transactions:

In accordance with the requirements of Indian Accounting Standard-24, the following transactions are considered as Related Party transactions: -

3. NOTES TO ACCOUNTS;

° °^f ^ ^Credi‘^ors’ ^{sundry debtors}> 'oans & advances, and other liabilities

are subject to balance confirmation and reconciliation.

2) In the opinion of the Board of Directors, Current Assets, Loans & Advances are approximately of busines^ ^y “* ***** “ ^{the BalanCC Sheet}’ ^{if reaJized in} the ordinary course of

j) The Company operates in one segment only.

4) The Company manages its capital to ensure that it will be able to continue as a going concern

The structure is managed to provide ongoing returns to shareholders and service debt obligations whilst maintaining maximum operational flexibility. ^B

⁵⁾ °I^{tradC payables}’ ^{other financial} liabilities, cash and cash equivalents balances trade receivables and other financial assets are considered to be the same as’

their fair values due to their short-term nature.

6) The Company opines that no provision for expected credit loss is required.

7) There is no significant market risk or liquidity risk to which the Company is exposed.

8) Payment to Statutory Auditors (Rs In Lakhs)-

⁹⁾ anH u’T' ^re'^{named due t0 Micro} and Small Enterprises as defined in the “The Micro, Small

“^{d E}nte_rp_nSe Development Act, 2006” as identified on the basis of information

collected by the management. ^on

10) The Company has regrouped and re-classified the previous year's figures in accordance with the

quirements applicable in Ihe current year. In view of this, certain figures of the current year are not strictly comparable with those of the previous year.

11) The Earning Per Share (lndAS-33) has been computed as under-

ADDITIONAL DISCLOSURES:

(0 Previous year figures have been regrouped and reclassified wherever necessary.

(ii) Expenditure and earning in foreign currency: Nil

(iii) Undisclosed Income:

Company does not have any transactions not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961). Also, there are nil previously unrecorded income and related assets.

(iv) Details of Crypto Currency or Virtual Currency:

Company has not traded or invested in Crypto currency or Virtual Currency during the financial year. '

(v) Figures have been rounded off to the nearest Rupee.

F»^r, For, Aniket Goyal & Associates. For And On Behalf Of The Board,

Chartered Accountants FRN No: -022331C

QV&W Goyal AA/„ ^FT

V (Proprietor) W / •) ' "" ' <^wh°'^{e T}'^me

Mem. No.: 423707 • Nfe, J

Place: Ahmedabad /

Date: 29.05.2024

UDIN-24423707BKE2LO2823