h) Provisions, Contingent Liabilities and Contingent Assets :
The Company recognises a provision when there is a present obligation as a result of a past event that probably
requires an outflow of the Company's resources embodying economic benefits and a reliable estimate can be made
of the amount of the obligation. A disclosure of contingent liabilities is made when there is a possible obligation that
may, but probably will not, require an outflow of resources. As a measure of prudence, the contingent assets are not
recognised.
i) Revenue Recognition :
All income and expenses are accounted on accrual basis. The Company recognised sale of Goods when it had
transferred the property in Goods to the buyer for a price or all significant risks and rewards of ownership had been
transferred to the buyer and no significant uncertainty existed as to the amount of consideration that would be derived
from such sale. The recognition event is usually the dispatch of goods to the buyer such that the Company retains
no effective control over the goods dispatched. Income from service charges of manpower supply services, handling
charges, packing services, storage and warehousing and other services are accounted on completion of services for
the respective client as evidenced by the issue of invoices for the respective service to that client and are accounted
as per the date on invoice. Income from investments, where appropriate, is taken into revenue in full on declaration
or accrual and tax deducted at source thereon is treated as advance tax.
j) Investments :
All investments are classified as long term investments as they are intended to be held for more than one year from
the date when they were acquired. All investments are, initially recognised at cost The investments are carried at cost
of acquisition.
k) Borrowing Costs :
The borrowing costs are debited to the Statement of Profit and Loss of the current year as they are incurred.
l) Taxes on Income :
Tax expense comprises of current tax and deferred tax. Provision for current tax is made on the estimated taxable
income and at the rate applicable to the relevant assessment year under the Income tax Act, 1961. Deferred income
taxes are recognized for future consequences attributable to timing differences between financial determination of
income and determination as of income as per applicable tax laws.
p) Foreign Currency Transactions :
The transactions in foreign currency have been recorded using the rate of exchange prevailing on the date of
transactions.
q) Impairment of Assets :
The management of the company has as at 31st March, 2025 has assessed the recoverable value of its fixed assets
and is of the view that the plant along with other fixed assets were available for production and business purposes
and the entire fixed assets have recoverable value on overall basis which is greater than their carrying amount as
at the balance sheet date and hence no provision for impairment of assets was required to be made for the year
ended 31st March, 2025.
NOTE - 25 - ADDITIONAL INFORMATION
1. As informed by the management, the company has initiated the process of obtaining confirmations from suppliers
as to their status as Micro, Small or Medium Enterprise registered under the applicable category as per the provisions
of the Micro, Small and Medium Enterprises (Development) Act, 2006 (MSMED Act, 2006). In absence of the relevant
information as to the status of the suppliers, the balance due to Micro, Small and Medium Enterprises and interest
due to them if any as per the provision of the Micro, Small and Medium Enterprises (Development) Act, 2006
(MSMED Act, 2006) could not be disclosed or provided.
2. In the opinion of the Board of Directors, Current assets, loans and advances have a value on realisation in the
ordinary course of business equal to the amount at which they are stated in the balance sheet.
3. The classification of all items of asset and liabilities into non-current and current has been made by the management
of the company based on conditions, terms of transactions and other relevant factors at the relevant time as
envisaged by the management. In view of the management of the company all assets that are ordinarily realizable
in the ordinary course of business have been classified as current assets though there may not have been any
realization from such items during the year and may have been outstanding since long. Likewise, all liabilities that
are to be settled within one year or in the normal course of business are classified as current liabilities though they
may not have been settled during the year since last year.
4. The balances of debtors, creditors, advances to farmers, loans and advances and other assets and liabilities are
subject to confirmation and subsequent reconciliations.
5. The books of account have been audited on the basis of such records and documentary evidences as were available
with the management and produced before the auditors. Where such documentary evidences have not been made
available to the auditors, the auditors have relied upon the entries as authenticated by the management of the
company and information and explanations provided to the auditors by the management.
6. Foreign Currency Transactions :
VALUE OF IMPORTS ON C.I.F. BASIS: NIL (Previous Year: NIL)
EXPENDITURE IN FOREIGN CURRENCY: NIL (Previous Year: NIL)
VALUE OF EXPORTS ON F.O.B. BASIS: NIL (Previous Year: ' NIL)
7. The company trades in various items of fruits and vegetables and other perishables purchased from the market in
bulk and make the sales as per the requirement of the customers. In the opinion of the management of the company
due to the perishable nature of items and number of items involved it is not feasible for the company to maintain
quantitative records of goods traded by the company during the year.
8. Paise are rounded up to the nearest of rupee. The previous year groupings have been regrouped and rearranged
by the company.
As per our report of even date
For, O. P. Bhandari & Co. For and on behalf of the Board of Directors
Chartered Accountants
Firm Regn. No.112633W
Jinen Ghelani Managing Director & CFO
DIN : 01872929
O.P. Bhandari
Partner
M.No. 34409 Hiren Ghelani Director
DIN : 02212587
Place : Ahmedabad
Date : 17.05.2025 Jasmin Jaykumar Doshi Company Secretary
UDIN : 25034409BMNRQL8100
| 