p) Provision, Contingent Liability and Contingent Assets
Provisions involving substantial degree of estimation in measurements are recognized when there is a present obligation as
a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized
but are disclosed in notes if any. Contingent assets are neither recognized nor disclosed in the financial statements.
Estimated amount of contracts remaining to be executed on Capital Account and not provided for is Rs. Nil (Previous Year
Rs. Nil)
q) Accounting of Claims
a. Claims received are accounted at the 'me of lodgment depending on the certainly of receipt and claims payable are
accounted at the 'me of acceptance.
b. Claims raised by Government authori'es regarding taxes and du'es, which are disputed by the Company are
accounted based on legality of each claim. Adjustments, if any, are made in the year in which disputes are finally
settled.
r) Deferred revenue expenditure
Deferred revenue expenditure, for which payment has been made on liability has been raised but benefit will arise for
subsequent period or period shall be changed in profit & loss accrued in equal amount upto five years.
s) IPO Expenses
Expenses relates to IPO under the Companies Act, 2013, will be amor'zed over a period of 5 years.
t) Statement of Cash Flow
Cash flows are reported using the indirect method, whereby profit/loss before 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. Cash flow for
the year are classified by operating, investing and financing activities of the Company are segregated.
3. In the opinion of Management current assets, loans & advance are stated approximately of the value if realized in ordinary
course of business unless otherwise stated. The provision of liabilities is adequate and not excess of the amount reasonably
necessary.
4. The company has not received any informa'on from the suppliers regarding their status under the micro, small and medium
enterprises Development Act, 2006 and hence disclosure, if any, rela'ng to amounts unpaid as at the year- end together with
the interest paid/ payable as required under the said Act has not been given.
5. Balances of Sundry Creditors, Loans & Advances, Sundry Debtors and Sundry Deposits are subject to confirma'ons and
adjustments, if any.
6. The figures of the previous year have been regrouped and rearranged whenever necessary. Amounts in the standalone
financial statements are rounded off to nearest Lakhs. Figures in brackets indicate nega've values.
7. Utilization of Borrowed Funds and Share Premium
The company has not advanced or loaned or invested funds to any other persons or entities with the understanding that,
that person/entity should invest in any other person or entity identified in any manner whatsoever by or on behalf of the
company or provided any guarantee, security, or like to or on behalf of the company.
The company has not received any amount from any other persons/entity with the understanding, whether written or oral,
that the company shall directly or indirectly invest in any other person or entity.
8. Benami Property
No proceedings have been initiated or pending against the company for holding any benami property under the Benami
Transections (Prohibition) Act, 1988 (45 of 1988) and the rules thereunder.
9. Willful Defaulters
The company is not declared as willful defaulter by any bank or financial ins'tu'ons or other lender.
10. Relationship with struck of companies
The company has not entered into any transaction with companies struck off under section 248 of the Companies Act, 2013.
11. Contingent liability
In respect of demand/ penalty if any in respect of Pending Sales Tax/ GST /VAT/Income Tax/ Other Taxes ,if any. The same
will be accounted for in the year of actual arise demand/payment.
As per our report of even date
For Shreekant S Shah & Co. For, Vivaa Tradecom Limited
Chartered Accountants
FRN: 110177W
Mitesh Adam Sangitaben N Jain
Shreekant S Shah Managing Director Director
Partner DIN: 03279695 DIN: 01923253
M. No.038215
UDIN: 24038215BJZZLY1583
Place: Ahmedabad Jaikishan Sajnani Swati Jigar Jain
Date: 28/05/2024 PAN: AHZPS0861P PAN: AYRPJ2795G
CFO Company Secretary
Place: Ahmedabad Date: 28/05/2024
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