Notes to Accounts of Alan Scott Enterprises Ltd.

Mar 31, 2025

20. Provisions and contingent liabilities

Provisions are recognized when the Company has a present, legal or
constructive obligation as a result of a past event and it is probable that an
outflow of resources will be required to settle the obligation, and a reliable
estimate of the amount of the obligation can be made. Provisions are
determined based on the best estimate required to settle the obligation at the
Balance Sheet date. Provisions are reviewed at each Balance Sheet date and
adjusted to reflect current best estimates.

Provisions are measured at the present value of management''s best estimate of
the expenditure required to settle the present obligation at the end of the
reporting period. The discount rate used to determine the present value is a
pre- tax rate that reflects current market assessments of the time value of money
and the risks specific to the liability. The increase in the provision due to the
passage of time is recognized as finance cost .

A contingent liability is a possible obligation that arises from past events
whose existence will be confirmed by the occurrence or non-occurrence of
one or more uncertain future events beyond the control of the Company or a
present obligation that is because it is not probable that an outflow of
resources will be required to settle the obligation. A contingent liability also
arises in extremely rare cases where there is a liability that cannot be
recognized because it cannot be measured reliably. A disclosure for a
contingent liability is made where there is a possible obligation arising out of
past events, the existence of which will be confirmed only by the occurrence
or non-occurrence of one or more uncertain future events not wholly within
the control of the Company or a present obligation arising out of a past event
where it is either not probable that an outflow of resources will be required to
settle or a reliable estimate of the amount cannot be made.

The above loans provided to the subsidiary company namely Alan Scott Automation and
Robotics Ltd and Alan Scott Retail Limited, and to Alan Scott Sportzchain Technologies P
ltd (entity under common control) and Satwik Himalyan Products are unsecured and
repayable on demand.

Further, the loans provided to Alan Scott Sportzchain Technologies P ltd and Satwik
Himalyan Products are interest free.

Investments during the year Rs.5,24,49,162.88/-(Previous Year Rs.3,82,27,632.88/-)

Guarantees given and Securities provided by the Companies in respect of Loan for the FY
2024-25 Rs. 4,64,628/-

23. Operating Lease: Alan ScB''tt

The Company has not taken any lease properties under financial lease
arrangements.

24. Gratuity and Employment Benefit Plan:

No provision has been made for retirement and employee benefit as per ''Ind AS
19'' regarding retirement.

25. Capital Commitments:

The capital commitment as at March 31, 2025 is NIL.

26. Unhedged Foreign Currency Exposures:

There is no foreign currency exposure outstanding as on 31/03/2025.

27. Income/ Expenditure in Foreign Currency:

There is no Income/ Expenditure in foreign currency as on 31/03/2025.

28. Benami Property held:

There is no Benami Property held by company as on 31/03/2025.

29. Wilful Defaulter:

The Company is not declared as wilful defaulter by any Bank or Financial
Institution.

30. Relationship with Struck off Companies:

The Company has not had any transactions with companies struck off under
section 248 of the Companies Act, 2013.

31. Registration of charges or satisfaction with Register of Companies:

The company does not have any charge as on 31/03/2025.

32. Compliance with approved Scheme(s) of Arrangement:

The Company has not approved any Scheme of Arrangement in terms of sections
230 to 237 of the Companies Act, 2013.

33. Utilisation of Borrowed funds and share premium: -

The Company has Borrowed funds from group company and the same is used to
give loan to subsidiaries.

34. Corporate Social Responsibility(CSR):

The company is not required to fulfill any liability under the provisions of section
135 of the Companies Act, relating to Corporate Social Responsibility.

35. Crypto Currency and Virtual Currency:

The company has not traded or invested in any Crypto currency or Virtual currency.

36. Compliance with number of layers Companies:

The company has complied with the clause 87 of section 2 of the Act Companies
(Restriction on number of Layers) Rules, 2017.

37. SME Accounting Standard Compliance:

In absence of adequate information relating to the suppliers under the Micro,
Small and Medium Enterprises Development Act, 2006, the Company is unable to
identify such suppliers, hence the Information required under the said Act, cannot
be ascertained.

38. The company has not advanced or loaned or invested any funds to any other
person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding that the Intermediary shall:

(a) 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

(b) provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries

39. 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:

(a) 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

(b) provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.

Debt represent only Long Term Liabilities.

²⁾ Debt service represent Interest Principal pertaining to long term borrowings
payable.

The variance in case of Current ratio is due to financing of working capital by short term
borrowing availed.

The variance in case of Debt- Equity Ratio, Return on Capital Employed (ROCE) and Return
on equity ratio is due to increase in the Long term borrowings and changes in shareholder''s

^equi,v .

The variance in Debt service coverage ratio is due to increase in the earnings of the
company .

The variance in case of Trade receivables turnover ratio is because of the increased in
outstanding receivables without a corresponding increase in sales. The variance in case of
Net capital turnover ratio is because of the increased working capital requirement in the
current year.

41. Previous periods / year''s figures have been reported have been regrouped where
necessary to conform to current period''s classification.

42. The notes referred to above form an integral part of the Balance Sheet and Profit
& Loss Account.

For and on behalf of Board of Directors
Alan Scott Enterprises Limited

Pravin Chandak And Associates
Chartered Accountants
Firm Regn. No. 116627W

Sd/- Sd/- Sd/-

CA Pravin Chandak Sureshkumar Jain Saloni Jain

Proprietor / Partner Director Director

M. No.049391 DIN:00048463 DIN :07361076

UDIN: 25049391BMJALD6917

Date:28-05-2025 Sd/- Sd/-

Place: Mumbai Sheetal Jagetiya Vishesh Bapna

Company Secretary Chief Financial

Membership No. A22737 Officer

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Mar 31, 2024

20. Provisions and contingent liabilities

Provisions are recognized when the Company has a present, legal or constructive obligation as a result of a past eventand it is probable that an outflow of resources will be required to settle the obligation, and a reliable estimate of the amount of the obligation can be made. Provisions are determined based on the best estimate required to settle the obligation at the Balance Sheet date. Provisions are reviewed at each Balance Sheet date and adjusted to reflect currentbest estimates.

Provisions are measured at the present value of management''s best estimate of the expenditure required to settle the present obligation at the end of the reporting period. The discount rate used to determine the present value is a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest expense.

A contingent liability is a possible obligation that arises from past events whose existence will be confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Company or a presentobligation that is because it is not probable that an outflow of resources will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there is a liability that cannot be recognized because itcannot be measured reliably. A disclosure for a contingent liability is made where there is a possible obligation arisingout of past events, the existence of which will be confirmed only by the occurrence or non-occurrence of one or moreuncertain future events not wholly within the control of the Company or a present obligation arising out of a past eventwhere it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amountcannot be made.

21. Cash and cash equivalents

Cash and cash equivalents in the cash flow statement comprises of cash at bank, cash in hand and short term deposits with an original maturity period of three months or less.

22. Related Party Disclosure

Details of Related parties with whom transactions were entered and their balances as on March 31, 2024.

24. Operating Lease:

The Company has not taken any lease properties under financial lease arrangements.

25. Employee Benefits - Gratuity Valuation

NIL

26. Contingent Liabilities & Commitments:

NIL

27. Gratuity and Employment Benefit Plan:

No provision has been made for retirement and employee benefit as per ‘ Ind AS 19’ regarding retirement

28. Capital Commitments:

The capital commitment as at March 31, 2024 is NIL.

29. Unhedged Foreign Currency Exposures:

There is no foreign currency exposure outstanding as on 31/03/2024.

30. Income/ Expenditure in Foreign Currency:

There is no Income/ Expenditure in foreign currency as on 31/03/2024.

31. Benami Property held:

There is no Benami Property held by company as on 31/03/2024.

32. Wilful Defaulter:

The Company is not declared as wilful defaulter by any Bank or Financial Institution.

33. Relationship with Struck off Companies:

The Company has not had any transactions with companies struck off under section 248 of the Companies Act,2013.

34. Registration of charges or satisfaction with Register of Companies:

The company does not have any charge as on 31/03/2024.

35. Compliance with approved Scheme(s) of Arrangement:

The Company has not approved any Scheme of Arrangement in terms of sections 230 to 237 of the Companies Act, 2013.

36. Utilisation of Borrowed funds and share premium: -

The Company had raised Rs.541.61 lakhs during the year on 21.07.2023 by issuing 18,25,377 Equity Shares of Rs.10/- each at a premium of Rs.20/- per share on right basis. The Company had received the full call money of Rs. 30 amounting to. Rs. 536.59 Lakhs on 17,46,364 shares which were duly allotted by the Company on March 21, 2024. At present, 79,213 shares remain partly paid up for which a final forfeiture cum demand notice has been sent on May 9, 2024. Out of the total proceeds raised from the above rights issue, the Company has utilized a sum of Rs 270 Lakhs towards subscription of equity shares of subsidiary company i.e. Alan Scott Retail Limited, a sum of Rs. 7 Lakhs has been advanced to Alan Scott Fusion Resonance Ltd. (earlier known Alan Scott Nanoveu India Limited) which will be adjusted toward share application money pending completion formalities, Rs 22.2 Lakhs were Right Issue expenses, a sum of Rs. 33 Lakhs has been utilised for repayment of borrowings and balance of Rs. 28.65 Lakhs have been utilised for general corporate purposes. As on March 31, 2024, the total fund utilisation is 360.84 Lakhs, Balance fund of Rs.175.75 Lakhs remain are kept in schedule bank

The Company had borrowed Rs.29.45 lacs from Mr Suresh Pukhraj Jain, Managing Director and Rs.84 lacs from M/s Suncap SS Global Ventures Pvt Ltd as ICD during the financial year 2023-24. These borrowed funds are deployed in funding working capital.

37. Corporate Social Responsibility(CSR):

The company is not required to fulfill any liability under the provisions of section 135 of the Companies Act, relating to Corporate Social Responsibility.

38. Crypto Currency and Virtual Currency:

The company has not traded or invested in any Crypto currency or Virtual currency.

39. Compliance with number of layers Companies:

The company has complied with the clause 87 of section 2 of the Act Companies (Restriction on number of Layers) Rules, 2017.

40. SME Accounting Standard Compliance:

In absence of adequate information relating to the suppliers under the Micro, Small and Medium Enterprises Development Act, 2006, the Company is unable to identify such suppliers, hence the Information required under the said Act, cannot be ascertained.

⁾ Debt represent only Long Term Liabilities.

²⁾ Debt service represent Interest Principal pertaining to long term borrowings payable.

The variance in case of Current ratio is due to financing of working capital by short term borrowing availed.

The variance in case of Debt- Equity Ratio, Return on Capital Employed (ROCE) and Return on equity ratio is due to increase in the shareholder’s equity through the issuance of right shares.

The variance in Debt service coverage ratio is due to increase in the loss incurred.

The variance in case of Trade receivables turnover ratio is because of the increased in outstanding receivables without a corresponding increase in sales. The variance in case of Net capital turnover ratio is because of the increased working capital requirement in the current year.

42. Previous periods / year’s figures have been reported have been regrouped where necessary to conform to current period’s classification.

43. The notes referred to above torm an integral part of the Balance Sheet and Profit & Loss Account.

Pravin Chandak And Associates

Chartered Accountants For and on behalf of Board of Director

Firm Regn. No. 116627W

Sd/- Sd/- Sd/-

CA Pravin Chandak Suresh P Jain Saloni Jain

Proprietor / Partner Director Director

M. No. 049391 DIN:00048463 DIN:07361076

UDIN: 24049391BKBNCH4898

Date: 14th August, 2024 Sd/- Sd/-

Place: Mumbai Ms.Sonal Solanki Ankit Gondaliya

Company Secretary Chief Financial Officer Membership No.A57308

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Mar 31, 2015

1.1 Micro, Small & Medium Enterprises disclosure

The company has not received any intimation from 'suppliers' regarding their status under the Micro, Small and Medium Enter- prises Development Act, 2006 and hence disclosure requirement in this regards as per Revised Schedule VI of the Companies Act, 1956

As per records of the company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial owenership of shares.

2.1 Rights, Preferences and restrictions attached to Equity shares

The company has one class of equity shares having a par value of Rs, 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

3.1 Reconciliation of the shares outstanding at the beginning and at the end of the reporting year

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Mar 31, 2014

1) Rights. Preferences and restrictions attached to Equity shares The company has one class of equity shares having a par value of Rs 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

2) No provision has been made in the books on account of gratuity or Leave benefits as on 31st March, 2014 as required by Accounting Standard 15 ''Employee Benefits''.

3) Amount due from Director at the year-end is Rs Nil/- (Previous Year Rs 40,233)

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Mar 31, 2013

1. Rights, Preferences and restrictions attached to Equity shares

The company has one class of equity shares having a par value of'' 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

2. Micro, Small & Medium Enterprises disclosure

The company has not received any intimation from ''suppliers'' regarding their status under the Micro, Small and Medium Enter- prises Development Act, 2006 and hence disclosure requirement in this regards as per Revised Schedule VI of the Companies Act, 1956

1) Total outstanding dues to small scale Industrial undertakings as on 31st March, 2013 Rs NIL (Previous Year Rs.Nil).

2) Contingent Liabilities 2012-2013 2011-2012

Counter guarantees in respect Rs 5,000/- Rs.5,000/- of bank Guarantees issued

3) Balance of Creditors, Unsecured Loans and Advances to body corporate are subject to confirmation and Reconciliation.

4) In the opinion of the Management, the Current Assets, Loans and Advances are valued at the amount which can be realized in the ordinary course of business.

5) Balance with brokers is subject to confirmations and reconciliations.

6) The value of closing stock of shares is as certified by the Management.

7) Details of Research & Development Costs: Expenditure on Research and Development activities as certified by the Management is Rs. Nil. (Including Capital Expenditure Rs. Nil)

8) No Provision of income tax has been made in the accounts, in view of the brought forward losses of the earlier years. Further, no Minimum Alternate Tax (MAT) under the provisions of Section 115JB of the Income Tax Act, 1961 is payable in view of unabsorbed book depreciation of earlier years.

9) In Accordance with the Accounting Standard 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the Company has not accounted for deferred tax asset during the period as in the opinion of-the Management there is no reasonable certainty of any future taxable profits arising.

10) Previous year''s figures have been regrouped /reclassified wherever necessary to with current year''s figures.

11) Related party disclosure

a) Relationship:

Key Managerial Persons and their relatives

i) Soketu Parikh - Director

ii) Asmita Parikh - Director

ii) Jay Parikh - Realtive of Director

Entity under common control i) Concord Capital Pvt. Ltd.

12) Amount due from Director at the year-end is Rs 40,233/-

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Mar 31, 2012

1) Total outstanding dues to small scale Industrial undertakings as on 31st March, 2012 Rs NIL (Previous Year Rs.Nil).

2) Contingent Liabilities 2011-2012 2010-2011

Counter guarantees in respect Rs 5,000/- Rs.5,000/- of bank Guarantees issued

3) Balance of Creditors, Unsecured Loans and Advances to body corporate are subject to confirmation and Reconciliation.

4) In the opinion of the Management, the Current Assets, Loans and Advances are valued at the amount which can be realized in the ordinary course of business.

5) Details of Research & Development Costs: Expenditure on Research and Development activities as certified by the Management is Rs. Nil.(Including Capital Expenditure Rs. Nil)

6) No Provision of income tax has been made in the accounts, in view of loss.

7) In Accordance with the Accounting Standard 22 “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India, the Company has not accounted for deferred tax asset during the period as in the opinion of the Management there is no reasonable certainty of any future taxable profits arising.

8) Previous year’s figures have been regrouped /reclassified wherever necessary to with current year''s figures.

9) Related party disclosure

a) Relationship:

Key Managerial Persons and their relatives

i) Soketu J Parikh

ii) Jay Parikh

Enterprises in which relatives of directors are interested

i) Concord Capital Pvt. Ltd.

10) SEGMENT REPORTING

During the year the company is operating only in one segment i.e. share trading activity. Therefore, segment reporting as specified by Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India is not given.

11) During the year ended 31st March, 2012, the Revised Schedule VI notified under the Companies Act 1956, has become applicable to the Company for preparation and presentation of financial statements; hence financial statements have been prepared as per the notified Schedule VI. This has significantly impacted the disclosure and presentation made in the Financial Statements. Previous years figures have been regrouped & reclassified wherever necessary to correspond with the current year’s classification/disclosure.