2.7 Provision, contingent liabilities and contingent assets:
A provision is recognized when the Company has a present obligation as a result of past event and it is probable that an outflow of resources will be required to
settle the obligation, in respect of which reliable estimate can be made. If the effect of the time value of money is material, provisions are discounted using a current
pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is
recognized as a finance costs.
Contingent liabilities are disclosed for:
(1) possible obligations which will be confirmed only by future events not wholly within the control of the Company or
(2) present obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of
the amount of the obligation cannot be made.
Contingent assets are disclosed wherein inflow of economic benefits is probable.
2.8 Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in the
comprehensive income or in equity. In this case, the tax is also recognised in other comprehensive income or equity.
- Current tax:
Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates and laws that are
enacted or substantively enacted at the Balance sheet date.
- Deferred tax:
Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax
bases used in the computation of taxable profit.
Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based
on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The carrying amount of deferred tax liabilities and
assets are reviewed at the end of each reporting period. In situation, where the Company has unabsorbed depreciation or carry forward of losses, deferred tax
assets are recognised only if there is reasonable certainty supported by convincing evidence that they can be realised against future taxable profits.
Minimum alternative tax (MAT) paid in accordance with the tax laws, which gives rise to future economic benefits in the form of adjustment of future income tax
liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax in future years. In the year in which MAT credit
becomes eligible to be recognised as an asset in accordance with the recommendations contained in guidance note issued by the Institute of Chartered
Accountants of India, the said asset is created by way of a credit to the statement of profit and loss and shown as MAT credit entitlement under deferred tax assets.
The Company reviews the same at each balance sheet date and writes down the carrying amount of MAT credit entitlement to the extent there is no longer
convincing evidence to the effect that the Company will pay normal income tax during the specified year.
2.90 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.
2.91 Revenue
Revenue is recognized upon transfer of control of promised services to customers in an amount that reflects the consideration we expect to receive in exchange of
product or services. Revenue is measured at the fair value of the consideration received or receivable, taking into account contractually defined terms of payment
and excluding taxes or duties collected on behalf of the government.
Revenue is recognised only if following condition are satisfied:
• The performance obligations have been met;
• The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
• It is probable that the economic benefit associated with the transaction will flow to the Company; and
• It can be reliably measured and it is reasonable to expect ultimate collection
Revenue from operations includes:
• Revenue from Advertisement income for operating an internet portal providing all sorts of information about restaurants and caterers for display of advertisement
are recognized on display of advertisement.
• Revenue from subscription contracts are recognized on accrual basis in accordance with terms of agreement entered into with customer.
Interest income:
Interest income from a financial asset is recognised when it is probable that the economic benefits will flow to the Company and the amount of income can be
measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate
that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.
Dividends:
Revenue is recognised when the Company's right to receive the payment is established.
2.92 Earnings per share
(i) Basic earnings per share
Basic earnings per share is calculated by dividing:
- the profit attributable to owner of the Company
- by the weighted average number of equity shares outstanding during the financial year, adjusted for bonus elements in shares issued during the year.
(ii) Diluted earnings per share
Diluted earnings per adjusts the figures used in the determination of basic earnings per share to take into account:
- the after income tax effect of interest and other financing costs associated with dilutive potential equity shares, and
- by the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.
2.93 Financial instruments
Initial recognition:
The Company recognizes financial assets and financial liabilities when it becomes a party to the contractual provisions of the instrument. All financial assets and
liabilities are recognized at fair value on initial recognition, except for trade receivables which are initially measured at transaction price. Transaction costs that are
directly attributable to the acquisition or issue of financial assets and financial liabilities, which are not at fair value through profit or loss, are added to the fair value
on initial recognition. Regular way purchase and sale of financial assets are recognised using trade date accounting.
Subsequent measurement:
Non-derivative financial instruments
Financial assets carried at amortised cost (AC):
A financial asset is subsequently measured at amortised cost if it is held within a business model whose objective is to hold the asset in order to collect contractual
cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the
principal amount outstanding.
Financial assets at fair value through other comprehensive income (FVTOCI):
A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by
both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are
solely payments of principal and interest on the principal amount outstanding.
Financial assets at fair value through profit or loss (FVTPL):
A financial asset which is not classified in any of the above categories are subsequently fair valued through profit or loss.
Equity instruments:
All equity investments in scope of Ind-AS 109 are measured at fair value either as at FVTOCI or FVTPL. The Company makes such election on instrument-by¬
instrument basis.
For equity instruments measured as at FVTOCI, all fair value changes on the instrument, excluding dividends, are recognized in the OCI. Equity instruments
included within the FVTPL category are measured at fair value with all changes recognized in the P&L.
Impairment of financial assets
The Company applies expected credit loss (ECL) model for measurement and recognition of impairment loss on the following financial assets and credit risk
exposure:
a) Financial assets that are debt instruments, and are measured at amortised cost e.g., loans, deposits, trade receivables and bank balance
b) Financial assets that are debt instruments and are measured as at FVTOCI
c) Trade receivables or any contractual right to receive cash or another financial asset
d) Loan commitments which are not measured as at FVTPL
The Company follows ‘simplified approach' for recognition of impairment loss allowance on Trade receivables. The application of simplified approach does not
require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime ECLs at each reporting date, right from its
initial recognition.
For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether there has been a significant increase in the
credit risk since initial recognition. If credit risk has not increased significantly, 12-month ECL is used to provide for impairment loss. However, if credit risk has
increased significantly, lifetime ECL is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer a significant increase in
credit risk since initial recognition, then the entity reverts to recognising impairment loss allowance based on 12-month ECL.
Lifetime ECL are the expected credit losses resulting from all possible default events over the expected life of a financial instrument. The 12-month ECL is a portion
of the lifetime ECL which results from default events that are possible within 12 months after the reporting date.
Financial liabilities
Financial liabilities are subsequently carried at amortized cost using the effective interest method. For trade and other payables maturing within one year from the
balance sheet date, the carrying amounts approximate fair value due to the short maturity of these instruments.
Derecognition of financial instruments
The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the
transfer qualifies for derecognition under Ind AS 109. A financial liability (or a part of a financial liability) is derecognized from the Company's balance sheet when
the obligation specified in the contract is discharged or cancelled or expires.
2.94 Fair value of financial instruments
In determining the fair value of its financial instruments, the Company uses a variety of methods and assumptions that are based on market conditions and risks
existing at each reporting date. The methods used to determine fair value include discounted cash flow analysis and available quoted market prices. All methods of
assessing fair value result in general approximation of value, and such value may vary from actual realization on future date.
2.95 Offsetting of financial instruments
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the
recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.
2.96 Impairment of financial assets
The impairment provisions for financial assets are based on assumptions about risk of default and expected loss rates. The Company uses judgement in making
these assumptions and selecting the inputs to the impairment calculation, based on Company's past history, existing market conditions as well as forward looking
estimates at the end of each reporting period.
2.97 All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakh as per the requirement of Schedule III, unless otherwise
stated.
2.98 Cash flow statement
Cash flows are reported using the indirect method, whereby profit/(loss) for the year is adjusted for the effects of transactions of a non-cash nature, any deferrals or
accruals of past or future operating cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows
from operating, investing and financing activities of the Company are segregated. The Company considers all highly liquid investments that are readily convertible to
known amounts of cash to be cash equivalents.
18 Financial risk management objectives and policies
18.1 Capital management
The Company is predominantly equity financed and continues to maintain adequate amount of liquidity to meet strategic and growth objectives.
The Company manages its capital to ensure that it will be able to continue as going concern while maximising the returns to its stakeholders.
18.2 Financial risk management
The Company's financial management is an integral part of how to plan and execute its business strategies. The companies financial risk
management policy is set by the Board of Directors. The Company's activities exposes it mainly to credit risk, liquidity risk and market risk.
(a) Market risk
Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a financial
instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange rates, equity
prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial
instruments including investments and deposits, foreign currency receivables and payables. Presently, the company does not perceive any such
risks as there is no financial instruments which is exposed to such risks.
(i) Interest rate risk
Interest rate risk is a risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market rates. In
order to optimize the Company's position with regards to interest income and interest expenses and to manage the interest rate risk, treasury
performs a comprehensive corporate interest rate risk management by balancing the proportion of fixed rate and floating rate financial
instruments in its total portfolio.
The Company is not exposed to significant interest rate risk as at the respective reporting dates as there is no significant debts in the Company.
(ii) Foreign currency risk
The Company is not exposed to significant foreign currency risk as at the respective reporting date as there are no significant foreign currency
transactions.
(iii) Price risk
The risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices, whether those
changes are caused by factors specific to the individual financial instrument or its issuer, or factors affecting all similar financial instruments
traded in the market. The Company has adopted disciplined practices including position sizing, diversification, valuation, loss prevention, due
diligence and exit strategies in order to mitigate losses.
(b) Credit risk
Credit risk arises from the possibility that counter party may not be able to settle their obligations as agreed. To manage this, the Company
periodically assesses the financial reliability of customers, taking into account the financial condition, current economic trends, and analysis of
historical bad debts and ageing of accounts receivable. Individual risk limits are set accordingly.
The Company considers the probability of default upon initial recognition of asset and whether there has been a significant increase in credit risk
on an ongoing basis throughout each reporting period. To assess whether there is a significant increase in credit risk the Company compares
the risk of a default occurring on the asset as at the reporting date with the risk of default as at the date of initial recognition. It considers
reasonable and supportive forwarding-looking information such as :
(i) Actual or expected significant adverse changes in business,
(ii) Actual or expected significant changes in the operating results of the counterparty,
(iii) Financial or economic conditions that are expected to cause a significant change to the counterparty's ability to meet its obligations,
(iv) Significant increases in credit risk on other financial instruments of the same counterparty,
(v) Significant changes in the value of the collateral supporting the obligation or in the equity of third party guarantees or credit enhancements.
Financial assets are written off when there is no reasonable expectation of recovery, such as a trade receivable failing to engage in a repayment
plan with the Company. The Company categorises a loan or receivable for write off when a trade receivables fails to make contractual payments
greater than 3 years past due. Where loans or receivables have been written off, the Company continues to engage in enforcement activity to
attempt to recover the receivable due. Where recoveries are made, these are recognised in profit or loss.
(c) Liquidity risk
Liquidity risk is defined as the risk that the Company will not be able to settle or meet obligations on time or at a reasonable price. The
Company's treasury team is responsible for liquidity, funding as well as settlement management. In addition, processes and policies related to
such risks are overseen by analysis management. Management monitors the Company's net liquidity position through rolling forecasts on the
basis of expected cash flows.
Maturity analysis of financial liabilities
The table below provides details regarding the remaining contractual maturities of financial liabilities at the reporting date based on
contractual undiscounted payments:
19 The Company is engaged in the business of providing and developing, owning, running, administering, operating, facilitating, creating, acquiring
an internet portal website to assist customers in making informed decisions about their dining options and related facilities which is considered
as the only reportable business segment. Accordingly only entity wide disclosures has been made. Hence there are no separate reportable
segments in accordance with Ind AS 108 'Operating Segments'. Since the Company's operations are primarily in India, it has determined single
geographical segment. Current year there are One customer (31 March 2024 - Two customers) represents more than 10% of the Company's
total revenue.
20 Relationship with Struck off Companies
There is no balance outstanding as on 31 March 2025 on account of any transaction with companies struck off under section 248 of the
Companies Act, 2013 or section 560 of Companies Act,1956 (31 March 2024: Nil).
The company has no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies
Act, 1956 (31 March 2024: Nil).
21 Undisclosed Income
The Company does not have any such transaction which is 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.
22 Details of Loan given, Investment made and Guarantee given covered u/s 186 (4) of the Companies Act, 2013
(i) No Loan given by the Company to body corporate as at 31 March 2025 and 31 March 2024
(ii) No Investment made by the Company as at 31 March 2025 and 31 March 2024
(iii) No Guarantee has been given by the Company as at 31 March 2025 and 31 March 2024
23 The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with
the understanding that the Intermediary shall:
(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate
Beneficiaries) or
(ii) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
24 The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding
(whether recorded in writing or otherwise) that the Company shall:
(i) Directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party
(Ultimate Beneficiaries) or
(ii) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
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