M. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
A provision is recognized, if as a result of past event the company has present legal or constructive
obligations that is reasonably estimable and it is probable that an outflow of economic benefits will be
required to settle the obligation. Provisions are determined by discounting the expected future cash flows
at a pre-tax rate that reflects current market assessments of the time value of money and the risk
specific to liability.
Contingent liabilities are disclosed for possible obligations arising out of uncertain events not wholly in
control of the company.
Contingent assets are not recognized in the financial statements. However, due disclosures are made in
the financial statements for the contingent assets, where economic benefits are probable and amount
can be estimated reliably.
N. FOREIGN CURRENCY TRANSACTIONS
Functional Currency
The Companies functional currency is Indian Rupees. The financial statement of the company is
presented in Indian rupees.
Transaction and translations
Transactions in currency other than Indian Rupees are recorded at the rate, as declared by the custom
and excise department / inter-bank rates, ruling on the date of transaction.
Unsettled Foreign currency denominated monetary assets and liabilities, as at the balance sheet date,
are translated using the exchange rates as at the balance sheet date. The gain or loss resulting from the
translation is recognized in the profit & loss. Non-monetary assets and non-monetary liabilities
denominated in foreign currency and measured at cost are translated at the exchange rate at the date of
the transaction.
Non-monetary assets and non-monetary liabilities denominated in foreign currency and measured
carried at fair value are translated at the date when the fair value is determined.
Transaction gain or losses realized upon settlement of foreign currency transaction are included in
determining the net profit for the period in which transaction is settled.
Exchanges difference arises on settlement / translation of foreign currency monetary items relating to
acquisition of property, plant & equipment till the period they are put to use for commercial production,
are capitalized to the cost of assets acquired and provided for over the useful life of the property, plant &
equipment.
O. NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS
Non-current assets and disposal groups classified as held for sale are measured at the lower of their
carrying value and fair value less costs to sell.
Assets and disposal groups are classified as held for sale if their carrying value will be recovered
through a sale transaction rather than through continuing use. This condition is only met when the sale is
highly probable and the asset, or disposal group, is available for immediate sale in its present condition
and is marketed for sale at a price that is reasonable in relation to its current fair value. The Company
must also be committed to the sale, which should be expected to qualify for recognition as a completed
sale within one year from the date of classification.
Where a disposal group represents a separate major line of business or geographical area of operations,
or is part of a single coordinated plan to dispose of a separate major line of business or geographical
area of operations, then it is treated as a discontinued operation. The post-tax profit or loss of the
discontinued operation together with the gain or loss recognised on its disposal are disclosed as a single
amount in the statement of profit and loss, with all prior periods being presented on this basis.
P. BORROWING COST
Borrowings cost are interest and other costs incurred in connection with the borrowing of funds.
Borrowing cost directly attributable to the acquisition or construction of qualifying / eligible assets,
intended for commercial production are capitalized as part of the cost of such assets. All other borrowing
costs are recognized as an expense in the year in which they are incurred
Q. CASH AND CASH EQUIVALENTS
Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and short-term
deposits with original maturity of three months or less, which are subject to an insignificant risk of
changes in value.
R. RECENT ACCOUNTING PRONOUNCEMENTS
Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended
March 31, 2025, MCA has notified Ind AS - 117 Insurance Contracts and amendments to Ind AS 116 -
Leases, relating to sale and leaseback transactions, applicable to the Company w.e.f. April 1, 2024. The
Company has reviewed the new pronouncements and based on its evaluation has determined that it
does not have any significant impact in its financial statements.
17. Leases
The Company as a lessee
The Company's lease asset classes primarily consist of leases buildings / office premises. The Company
assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains, a lease
if the contract conveys the right to control the use of an identified asset for a period of time in exchange for
consideration. To assess whether a contract conveys the right to control the use of an identified asset, the
Company assesses whether: (i) the contract involves the use of an identified asset (ii) the Company has
substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the
Company has the right to direct the use of the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use (ROU) asset and a
corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term
of 12 months or less (short-term leases) and low value leases. For these short-term and low-value leases,
the Company recognizes the lease payments as an operating expense on a straight-line basis / as per
contract over the term of the lease.
Considering the current lease as low value lease, the lease payment made during the year recognized as
an operating expense.
18. Employee Benefits
i) Contribution to the Employees Provident Funds is made at a predetermined Rate.
ii) On account of Defined Contribution Plan, the Company has charged the following amounts in
the Profit and Loss Account:
20. Dues to Micro, Small and Medium Enterprises
There are no Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium
Enterprises Development Act, 2006 to whom the Company owes dues on account of principal amount
together with interest and accordingly no additional disclosures have been made.
The above information regarding Micro, Small and Medium Enterprises has been determined to the
extent such parties have been identified on the basis of information available with the Company. This
has been relied upon by the auditors.
Fair Value hierarchy disclosures:
Level 1 - Financial Instruments measured using quoted prices. This includes listed equity instruments,
traded bonds, ETF's and mutual funds that have quoted prices. The fair value of all equity instruments
(including bonds) which are traded in stock exchanges is valued using the closing prices as at the reporting
period. The mutual funds are valued using the closing NAV.
Level 2 - Financial Instruments that are not traded in an active market (for example traded bonds, over the
counter derivatives) is determined using valuation techniques which maximize the use of observable
market data and rely as little as possible on entity specific estimates. If all significant inputs required to fair
value an instrument are observable, the instrument is included in level 2.
Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable
inputs). This is the case of unlisted equity securities, contingent consideration and indemnification asset
included in level 3.
The carrying amounts of trade receivables, cash and cash equivalent, current other financial assets are
considered to be the same as their fair values, due to their short-term nature.
The carrying amounts of non-current financial assets are primarily consist of Term-Deposit with banks
considered to be the same as their fair value as it the same is interest bearing and are close to the fair
value.
The investment included in Level 1 of fair value hierarchy has been valued using quotes available in the
active market. The investment included in Level 2 of fair value hierarchy has been valued using quotes
available for the similar assets and liabilities in the active market. The cost of unquoted investments
approximates the fair value because there is a wide range of possible fair value measurement and the cost
represents estimate fair value within that range.
23. Additional regulatory information required by Schedule III-
a. The Company has not been declared by willful defaulter by any bank or financial institution or
government or any government authority.
b. The Company has no transactions with companies struck off under companies Act ,2013.
c. There is no any income surrendered or disclosed as income during the current or previous
year in the tax assessments under the Income tax,1961, that has been recorded in the books
of account.
d. The Company has not traded or invested in crypto currency or virtual currency during the
current and previous year.
e. The Company has not revalued its property, plant and equipment or intangible assets or both
during the current and previous year.
f. There are no charge or satisfaction which are yet to be registered with register of Companies
beyond the statutory period.
24. Previous year's figures have been regrouped/reclassified wherever necessary, to confirm with the
current years' classification/disclosures.
Notes 1 to 24 are an integral part of these Standalone Financial Statements
As per our report of even date For and on behalf of the Board of Directors of
Chartered Accountants UNITED INTERACTIVE LIMITED
For D. N. Kanabar & Co.
(FRN 104698W)
Sarayu Somaiya Jyoti Pandey
Director Independent Director
Deepak Kanabar DIN: 00153136 DIN: 06779560
Proprietor
Membership No.041157
Mumbai, May 30, 2025
Basanta Kumar Behera
Chief Executive Officer
Hemang Joshi Nilesh Amrutkar
Chief Financial Officer Company Secretary
Mumbai, May 30, 2025
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