l) Provisions, contingent liabilities and contingent assets
Provisions

A provision is recognised when an enterprise has a present obligation as a result of past event; it is probable that an outflow of resources will be required to settle
the obligation in respect of which a reliable estimate can be made. Provisions are not discounted to its present value and are determined based on best
estimate required to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and adjusted to reflect best current
estimates.

Contingent Liability

A contingent liability is disclosed where, as a result of past events, there is a possible obligation or a present obligation that may, but probably will not, require an
out flow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision
or disclosure is made.

Contingent assets

Contingent assets are neither recognized nor disclosed.

25 There is no liability outstanding towards leave encashment and gratuity of any employees

26 Confirmations or documentary evidences in support of dues recoverable for the balances under loans and advances in cash or kind , Trade receivables and sundry
creditors for goods and services, are not available with the company in a few cases. However, in the opinion of the Board, the balances are receivable and/or payable at
the values stated there against in the normal course of business. In absence of audit evidence, this fact cannot be verified and impact, if any on the profitability cannot be
quantified.

27 Contingent Liabilities & Capital Commitments : NIL

28 The Company decided to exercise the option permitted under Section 115BAA of the Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance,
2019 from the last financial year. Accordingly, the provision for income tax and deferred tax balances have been recorded/ remeasured using the new tax rate as applicable.

29 The company was incorporated on 20th June, 2019 by taking over the Assets and Liabilities of First Step Entertainment a Proprietorship Concern of Mr.Danish Aghadi,
promoter and majority shareholder amounting to Rs 1,60,00,000/- which is the contribution of the promoter for share capital. Similarly various services has been received
from related parties during the earlier period and current year under audit.Since none of the entities are subject to audit , we have relied upon the figures given by the
management.

31 Additional regulatory information required by Schedule III of Companies Act,2013

31.1 Details of Benami property:

No proceeding have been initiated or are pending against the Company for holding any Benami property under the Benami Transaction (Prohibition)

31.2 Utilisation of borrowed funds and share premium:

(a) The Company has not advanced or loaned or invested funds to any other person (s) or entity (ies), including foreign entities (Intermediaries)

i) directly or indirectly lend or invest in other person or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate

ii) provide any guarantee, security or the like or on behalf of the ultimate beneficiaries.

(b) The Company has not received any fund from any person (s) or entity (ies), including foreign entities (Funding Party) with the understanding

i) directly or indirectly lend or invest in other person or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate

ii) provide any guarantee, security or the like or on behalf of the ultimate beneficiaries.

31.3 Compliance with number of layers of companies:

The Company has complied with the number of layers prescribed under the Companies Act,2013.

31.4 Compliance with approved scheme (s) of arrangements:

The Company has not entered into any scheme or arrangement which has an accounting impact on current or previous year.

31.5 Undisclosed income:

There is no income surrendered or disclosed as income during the current or previous year in the tax assessments under the Income Tax Act, 1961,

31.6 Details of crypto currency or virtual currency:

The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.

31.7 Valuation of Property, Plant and Equipment:

The Company has not revalued its property, plant and equipment (including right-of-use-assets) during the current or previous year.

31.8 Wilful Defaulter:

The Company is not declared as wilful defaulter by any bank or financial institution (as defined under the Companies Act, 2013) or consortium

31.9 Details of Transaction with Struck of Companies:

There are no Transactions with Struck of Companies during the Current and Previous Year.

32 The previous year figures have been regrouped/ reclassified, wherever necessary to confirm to the current year presentation.

SIGNATORIES TO SCHEDULES “1 “TO “32"

As per our report of even date attached For and on behalf of the Board

For and on behalf of

B. L. Dasharda & Associates

Chartered Accountants Mr. Danish Zakaria Aghadi

F.R. No.: 112615W Managing Director

DIN:05017846

Sushant Mehta

Partner Ms. Nazish Furniturewala Ms. Anamika Sinha Roy

M. No.: 112489 Director & CFO Company Secretary

Din No.: 08294243 Membership No. - A52535

UDIN No: 24112489BKANXW4939
Place : Mumbai
Date: 30th May,2024