Accounting Policies of Grand Oak Canyons Distillery Ltd. Company

Mar 31, 2025

A summary of the significant accounting policies applied in the preparation of the
financial statements are as given below. These accounting policies have been applied
consistently to all the periods presented in the financial statements.

3.1. Property, Plant and Equipment

3 1.1. Recognition and Measurement:

Property (Land and Building), plant and equipment held for use in the production
or/and supply of goods or services, or for administrative purposes is stated in the
balance sheet at Fair Market Value less any accumulated depreciation and
accumulated impairment losses (if any). Cost of an item of property, plant and
equipment acquired comprises its purchase price, including import duties and
non-refundable purchase taxes, after deducting any trade discounts and rebates,
any directly attributable costs of bringing the assets to its working condition and
location for its intended use and present value of any estimated cost of dismantling
and removing the item and restoring the site on which it is located.

If significant parts of an item of property, plant and equipment have different useful
lives, then they are accounted for as separate items (major components) of
property, plant and equipment.

Profit or loss arising on the disposal of property, plant and equipment are
recognized in the Statement of Profit and Loss.

3.1.2. Subsequent Measurement:

Subsequent costs are included in the asset’s carrying amount, only when it is
probable that future economic benefits associated with the cost incurred will flow to
the Company and the cost of the item can be measured reliably. The carrying
amount of any component accounted for as a separate asset is derecognized
when replaced

Major Inspection/ Repairs/ Overhauling expenses are recognized in the carrying
amount of the item of property, plant and equipment as a replacement if the
recognition criteria are satisfied. Any Unamortized part of the previously recognized
expenses of similar nature is derecognized.

Depreciation on Property, Plant & Equipment is provided on Straight Line
Method in terms of life span of assets prescribed in Schedule II of the Companies
Act, 2013 or as reassessed by the Company based on the technical evaluation.

In case the cost of part of tangible asset is significant to the total cost of the
assets and useful life of that part is different from the remaining useful life of the
asset, depreciation has been provided on straight line method based on internal
assessment and independent technical evaluation carried out by external valuers,
which the management believes that the useful lives of the component best
represent the period over which it expects to use those components.

Depreciation on additions (disposals) during the year is provided on a pro-rata basis
i.e., from (up to) the date on which asset is ready for use (disposed of).

Depreciation method, useful lives and residual values are reviewed at each financial
year-end and adjusted if appropriate

3.1.4. Disposal of Assets

An item of property, plant and equipment is derecognized upon disposal or when no
future economic benefits are expected to arise from the continued use of the asset.
Any gain or loss arising on the disposal or retirement of an item of property, plant and
equipment is determined as the difference between net disposal proceeds and the
carrying amount of the asset and is recognized in the statement of profit and loss.

Capital work-in-progress is stated at cost which includes expenses incurred during
construction period, interest on amount borrowed for acquisition of qualifying assets
and ther expenses incurred in connection with project implementation in so far as
such expenses relate to the period prior to the commencement of commercial
production,

3.2. Leases

3.2.1. Determining whether an arrangement contains a lease

The determination of whether an arrangement is (or contains) a lease is based on the
substance of the arrangement at the inception of the lease. The arrangement is, or
contains, a lease if fulfillment of the arrangement is dependent on the use of a
specific asset or assets and the arrangement conveys a right-of-use (ROU) for the
asset or assets, even if that right is not explicitly specified in an arrangement.

Ind AS 116 sets out the principles for the recognition, measurement, presentation and
disclosures of leases for both lessees and lessors. It introduced a single, on-balance
sheet accounting model for lessees.

The Company is lessee mainly in Land & Building (Factory and Offices). It
recognised all such arrangements as right-of-use (ROU) asset and lessee as liability.
The ROU is considered when company has all the right to drive economic benefits
from the use of underlying asset. The right-of-use (ROU) asset is measured by
discounting future lease payments to net present value (NPV) All lease payments
during reporting period are recognised either as operational lease or financial lease
as per Ind AS 116. However low value leases and leases below 12 months are
treated as operating lease only.

3.2.2. Company as lessor
Finance Lease

Leases which effectively transfer to the lessee substantially all the risks and
benefits incidental to ownership of the leased item are classified and
accounted for as finance lease. Lease rental receipts are apportioned between
the finance income and capital repayment based on the implicit rate of return.
Contingent rents are recognized as revenue in the period in which they are
earned

Operating Lease

Leases in which the Company does not transfer substantially all the risks and
rewards of ownership of an asset are classified as operating leases. Rental
income from operating leases is recognized on a straight-line basis over the
term of the relevant lease except where scheduled increase in rent
compensates the Company with expected inflationary costs.

3,2.3. Company as lessee

Finance Lease

Finance Leases, which effectively transfer to the lessee substantially all the
risks and benefits incidental to ownership of the leased item, are capitalized
at the lower of the fair value and present value of the minimum lease
payments at the inception of the lease term and disclosed as leased assets.
Lease Payments under such leases are apportioned between the finance
charges and reduction of the lease liability based on the implicit rate of return.
Finance charges are charged directly to the statement of profit and loss. Lease
management fees, legal charges and other initial direct costs are capitalized.
If there is no reasonable certainty that the Company will obtain the
ownership by the end of lease term, capitalized leased assets are
depreciated over the shorter of the estimated useful life of the asset or the
lease term.

Operating Lease

Assets acquired on leases where a significant portion of risk and reward is
retained by the lessor are classified as operating leases. Lease rental are
charged to statement of profit and loss on a straight-line basis over the lease
term, except where scheduled increase in rent compensates the Company with
expected inflationary costs.

3.3. Inventories

Inventories are valued at the lower of cost and net realizable value (NRV). Cost is
measured by including, unless specifically mentioned below, cost of purchase and other
costs incurred in bringing the inventories to their present location and condition. NRV is
the estimated selling price in the ordinary course of business, less estimated costs of
completion and the estimated costs necessary to make the sale. Cost is ascertained on
weighted average basis for all inventories except for by products and scrap materials
which are valued at net realizable value.

3.4. 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 change in value.

For the purpose of the statement of cash flows, cash and cash equivalents includes
cash on hand, term deposits and other short-term highly liquid investments, net of bank
overdrafts as they are considered an integral part of the Company''s cash management.
Bank overdrafts are shown within short-term borrowings in the balance sheet.

3.5. Income Tax

The income tax expense or credit for the period is the tax payable on the current
period''s taxable income based on the applicable income tax rate adjusted by changes in
deferred tax assets and liabilities attributable to temporary differences, unused tax
losses etc Current and deferred tax is recognized in the statement of profit & loss,
except to the extent that it relates to items recognized in other comprehensive income or
directly in equity. In this case, the tax is also recognized in other comprehensive income
or directly in equity, respectively.

3.5.1. Current Tax:-

Current tax liabilities (or assets) for the current and prior periods are measured at the
amount expected to be paid to (recovered from) the taxation authorities using the tax
rates (and tax laws) that have been enacted or substantively enacted, at the end of the
reporting period

3.5.2. Minimum Alternate Tax (MAT) credit:-

MAT Credit is recognized as an asset only when and to the extent there is convincing
evidence that the company will pay normal income tax during the specified period. In the
year in which the Minimum Alternative tax (MAT) credit becomes eligible to be
recognized 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. 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 Company will pay normal Income Tax during the
specified period.

3.5.3. Deferred Tax: -

Deferred Tax assets and liabilities is measured at the tax rates that are expected to apply
to the period when the asset is realized or the liability is settled based on tax rates (and
tax laws) that have been enacted or substantively enacted by the end of the reporting
period.

Deferred tax is recognized in respect of temporary differences between the carrying
amounts of assets and liabilities for financial reporting purposes and the corresponding
amounts used for taxation purposes (i.e., tax base). Deferred tax is also recognized for
carry forward of unused tax losses and unused tax credits.

Deferred tax assets are recognized to the extent that it is probable that taxable profit will
be available against which the deductible temporary differences, and the carry forward of
unused tax credits and unused tax losses can be utilized.

The carrying amount of deferred tax assets is reviewed at the end of each reporting
period. The Company reduces the carrying amount of a deferred tax asset to the extent
that it is no longer probable that sufficient taxable profit will be available to allow the
benefit of part or that entire deferred tax asset to be utilized. Any such reduction is
reversed to the extent that it becomes probable that sufficient taxable profit will be
available.

Deferred tax relating to items recognized outside the Statement of Profit and Loss is
recognized either in other comprehensive income or in equity. Deferred tax items are
recognized in correlation to the underlying transaction either in OCI or directly in equity.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to
set off current tax assets against current tax liabilities and when they relate to income
taxes levied by the same taxation authority and the Company intends to settle its current
tax assets and liabilities on a net basis,

3.6. Revenue Recognition

Revenue is recognized based to the extent it is probable that the economic benefit
will flow to the company and revenue can be reliably measured regardless of when
the payment is being made. Revenue is measured at the fair value of the
consideration received or receivable, taking into account contractually defined terms
of payment, and excludes taxes & duties collected on behalf of the Government
and is reduced for estimated customer returns, rebates and other similar
allowances.

3.6.1. Sale of Products:

The Company recognizes revenue when the amount of revenue can be reliably
measured, it is probable that future economic benefits will flow to the Company and
significant risk and reward incidental to sale of products is transferred to the buyer,
usually on delivery of the goods. Accruals for sales return, chargeback and other
allowances are provided at the point of sale based on the past experience.

3.6.2. Revenue from rendering of services:

Revenue from rendering of services is recognized on pro-rata basis over the period
of contract and when the performance of agreed contractual task has been
completed.

3.6.3. Other Income:

3.6.3.1. Interest Income: For all debt instruments measured either at amortized cost
or at fair value through other comprehensive income (FVTOCI), interest
income is recorded using the effective interest rate (EIR) EIR is the rate that
exactly discounts the estimated future cash receipts over the expected life of
the financial instrument or a shorter period, where appropriate, to the gross
carrying amount of the financial asset.

3.6.3.2. Other Income: Other items of income are accounted as and when the right
to receive such income arises and it is probable that the economic benefits will
flow to the company and the amount of income can be measured reliably.

3.7. Employee Benefits

3.7.1. Short Term Benefits

Short term employee benefit obligations are measured on an undiscounted basis and
are expensed as the related services are provided. Liabilities for wages and salaries,
including non-monetary benefits that are expected to be settled wholly within twelve
months after the end of the period in which the employees render the related service are
recognized in respect of employees'' services up to the end of the reporting period.

3.7.2. Other Long-Term Employee Benefits

The liabilities for earned/privilege leave that are not expected to be settled wholly
within twelve months are measured as the present value of the expected future
payments to be made in respect of services provided by employees up to the end
of the reporting period using the projected unit credit method. The benefits are
discounted using the government securities (G-Sec) at the end of the reporting
period that have terms approximating to the terms of related obligation.
Remeasurement as the result of experience adjustment and changes in actuarial
assumptions are recognized in statement of profit and loss.

3.7.3. Post-Employment Benefits

The Company operates the following post-employment schemes:

3.7.4. Defined Contribution Plan

Defined contribution plans such as Provident Fund, Employee State Insurance etc.
are charged to the statement of profit and loss as and when incurred and paid to
Authority.

3 7.5. Defined Benefit Plans

3.7.5.1. The liability or asset recognized in the Balance Sheet in respect of
defined benefit plans is the present value of the defined benefit
obligation at the end of the reporting period less the fair value of plan
assets. The Company’s net obligation in respect of defined benefit plans
is calculated separately for each plan by estimating the amount of future
benefit that employees have earned in the current and prior periods.
The defined benefit obligation is calculated annually by Actuaries using
the projected unit credit method.

3.7.5.2. The liability recognized for defined benefit plans is the present value of
the defined benefit obligation at the reporting date less the fair value of
plan assets, together with adjustments for unrecognized actuarial gains
or losses and past service costs. The net interest cost is calculated by
applying the discount rate to the net balance of the defined benefit
obligation and the fair value of plan assets. The benefits are discounted
using the government securities (G-Sec) at the end of the reporting
period that have terms approximating to the terms of related obligation.

3.7.5.3. Remeasurement of the net defined benefit obligation, which comprise
actuarial gains and losses, the return on plan assets (excluding
interest) and the effect of the asset ceiling, are recognized in other
comprehensive income. Remeasurement recognized in other
comprehensive income is reflected immediately in retained earnings and
will not be reclassified to the statement of profit and loss.

3.8. Foreign Currency Transactions

3.8.1. Foreign currency (other than the functional currency) transactions are
translated into the functional currency using the spot rates of exchanges at the
dates of the transactions. Monetary assets and liabilities denominated in
foreign currencies are translated at the functional currency spot rate of
exchanges at the reporting date.

3.8.2. Foreign exchange gains and losses resulting from the settlement of such
transactions and from the translation of monetary assets and liabilities are
generally recognized in profit or loss in the year in which they arise except for
exchange differences on foreign currency borrowings relating to assets under
construction for future productive use, which are included in the cost of those
qualifying assets. When they are regarded as an adjustment to interest costs
on those foreign currency borrowings, the balance is presented in the
Statement of Profit and Loss within finance costs.

3.9. Borrowing Costs

3.9.1. Borrowing Costs consists of interest and other costs that an entity incurs in
connection with the borrowings of funds. Borrowing costs also includes foreign
exchange difference to the extent regarded as an adjustment to the borrowing costs.

3.9.2. Borrowing costs directly attributable to the acquisition or construction of a
qualifying asset are capitalized as a part of the cost of that asset that necessarily
takes a substantial period of time to complete and prepare the asset for its intended
use or sale.

3.9.3. Transaction costs in respect of long-term borrowing are amortized over the tenure
of respective loans using Effective Interest Rate (EIR) method. All other borrowing
costs are recognized in the statement of profit and loss in the period in which they
are incurred.

3.10. Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a

financial liability or equity instrument of another entity.

3.11. Financial Assets

3 11.1. Recognition and Initial Measurement:

3.11.1.1. All financial assets are initially recognized when the company becomes a
party to the contractual provisions of the instruments. A financial asset is initially
measured at fair value plus, in the case of financial assets not recorded at fair
value through profit or loss, transaction costs that are attributable to the
acquisition of the financial asset.

3.11.2. Classification and Subsequent Measurement: For purposes of subsequent
measurement, financial assets are classified in four categories:

1. Measured at Amortized Cost;

2. Measured at Fair Value through Other Comprehensive Income (FVTOCI);

3. Measured at Fair Value through Profit or Loss (FVTPL); and

4. Equity Instruments designated at Fair Value through Other Comprehensive
Income (FVTOCI).

Financial assets are not reclassified subsequent to their initial recognition, except if and in
the period the Company changes its business model for managing financial assets.

3.12. Measured at Amortized Cost: A debt instrument is measured at the amortized cost if
both the following conditions are met:

1. The asset is held within a business model whose objective is achieved by both
collecting contractual cash flows; and

2. The contractual terms of the financial asset give rise on specified dates to cash
flows that are solely payments of principal and interest (SPPI) on the principal
amount outstanding.

After initial measurement, such financial assets are subsequently measured at amortized
cost using the effective interest rate (EIR) method Amortized cost is calculated by taking
into account any discount or premium on acquisition and fees or costs that are an integral
part of the EIR. The EIR amortization is included in finance income in the statement of profit
or loss. The losses arising from impairment are recognized in the profit or loss. This category
generally applies to trade receivables, cash and bank balances, loans and other financial
assets of the company.

3.13. Measured at FVTOCI: A debt instrument is measured at the FVTOCI if both the
following conditions are met:

3.13.1. The objective of the business model is achieved by both collecting
contractual cash flows and selling the financial assets; and

3 13.2. The asset s contractual cash flows represent SPPI.

3.14. Debt instruments meeting these criteria are measured initially at fair value plus
transaction costs. They are subsequently measured at fair value with any gains or
losses arising on remeasurement recognized in other comprehensive income, except
for impairment gains or losses and foreign exchange gains or losses. Interest
calculated using the effective interest method is recognized in the statement of profit
and loss in investment income.

3.15. Measured at FVTPL: FVTPL is a residual category for debt instruments. Any debt
instrument, which does not meet the criteria for categorization as at amortized cost or
as FVTOCI, is classified as FVTPL. In addition, the company may elect to designate a
debt instrument, which otherwise meets amortized cost or FVTOCI criteria, as at
FVTPL. Debt instruments included within the FVTPL category are measured at fair
value with all changes recognized in the statement of profit and loss. Equity
instruments which are, held for trading are classified as at FVTPL.

3.16. Equity Instruments designated at FVTOCI: For equity instruments, which has not been
classified as FVTPL as above, the company may make an irrevocable election to
present in other comprehensive income subsequent changes in the fair value The
company makes such election on an instrument-by-instrument basis. The classification
is made on initial recognition and is irrevocable In case the company decides to
classify an equity instrument as at FVTOCI, then all fair value changes on the
instrument, excluding dividends, are recognized in the OCI There is no recycling of
the amounts from OCI to P&L, even on sale of investment.

3.17. Derecognition:

The Company derecognizes a financial asset on trade date only when the contractual rights

to the cash flows from the asset expire, or when it transfers the financial asset and

substantially all the risks and rewards of ownership of the asset to another entity.

3.18. Impairment of Financial Assets:

The Company assesses at each date of balance sheet whether a financial asset or a group
of financial assets is impaired. Ind AS - 109 requires expected credit losses to be measured
through a loss allowance. The company recognizes impairment loss for trade receivables
that do not constitute a financing transaction using expected credit loss model, which
involves use of a provision matrix constructed on the basis of historical credit loss
experience. For all other financial assets, expected credit losses are measured at an amount
equal to the 12 month expected credit losses or at an amount equal to the life time expected
credit losses if the credit risk on the financial asset has increased significantly since initial
recognition.

3.19. Financial Liabilities

3 19.1. Recognition and Initial Measurement:

Financial liabilities are classified, at initial recognition, as at fair value through profit or
loss, loans and borrowings, payables or as derivatives, as appropriate. All financial
liabilities are recognized initially at fair value and, in the case of loans and borrowings
and payables, net of directly attributable transaction costs.

3.19.2. Subsequent Measurement:

Financial liabilities are measured subsequently at amortized cost or FVTPL. A financial
liability is classified as FVTPL if it is classified as held-for-trading, or it is a derivative or it
is designated as such on initial recognition. Financial liabilities at FVTPL are measured at
fair value and net gains and losses, including any interest expense, are recognized in
profit or loss. Other financial liabilities are subsequently measured at amortized cost
using the effective interest rate method, Interest expense and foreign exchange gains
and losses are recognized in profit or loss. Any gain or loss on de-recognition is also
recognized in profit or loss.

3.19.3. Financial Guarantee Contracts:

Financial guarantee contracts issued by the company are those contracts that require a
payment to be made to reimburse the holder for a loss it incurs because the specified
debtor fails to make a payment when due in accordance with the terms of a debt
instrument. Financial guarantee contracts are recognized initially as a liability at fair
value, adjusted for transaction costs that are directly attributable to the issuance of the
guarantee. Subsequently, the liability is measured at the higher of the amount of loss
allowance determined as per impairment requirement of Ind AS 109 and the amount
recognized less cumulative amortization.

3.19.4. Derecognition:

A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires.

3.19.5. Offsetting financial instruments

Financial assets and liabilities are offset and the net amount is reported in the balance
sheet when there is a legally enforceable right to offset the recognized amounts and
there is an intention to settle on a net basis or realize the asset and settle the liability
simultaneously. The legally enforceable right must not be contingent on future events and
must be enforceable in the normal course of business and in the event of default,
insolvency or bankruptcy of the counterparty-

3.20. Earnings Per Share

Basic Earnings per share (EPS) amounts are calculated by dividing the profit for the year
attributable to equity holders by the weighted average number of equities shares
outstanding during the year. Diluted EPS amounts are calculated by dividing the profit
attributable to equity holders adjusted for the effects of potential equity shares by the
weighted average number of equity shares outstanding during the year plus the weighted
average number of equity shares that would be issued on conversion of all the dilutive
potential equity shares into equity shares.

3.21. Impairment of Non-Financial Assets

The Company assesses, at each reporting date, whether there is an indication that an
asset may be impaired. An asset is treated as impaired when the carrying cost of the
asset exceeds its recoverable value being higher of value in use and net selling price.
Value in use is computed at net present value of cash flow expected over the balance
useful lives of the assets. For the purpose of assessing impairment, assets are grouped
at the lowest levels for which there are separately identifiable cash inflows which are
largely independent of the cash inflows from other assets or group of assets (Cash
Generating Units - CGU).

An impairment loss is recognized as an expense in the Statement of Profit and Loss in
the year in which an asset is identified as impaired. The impairment loss recognized in
earlier accounting period is reversed if there has been an improvement in recoverable
amount.

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Mar 31, 2024

1 COMPANY INFORMATION

Pacheli Industrial Finance Limited is a Public Limited Company (The Company) having registered office at C-001, Prathamesh Horizon, New Link Road, Borivali (W), Mumbai, Maharasthra-400092. The Company is listed on the BSE (Bombay Stock Exchange) The company is engaged in financing business and investment activities. We believe that we are well placed to leverage on the growth opportunities in the economy.

2. SIGNIFICANT ACCOUTING POLICIES

(a) Basis for preparation of Accounts:

The financial statements have been prepared under the historical cost convention on accrual basis, except pertaining to amalgamation accounting in the earlier years, in accordance with the generally accepted accounting principles, provisions of the Companies Act, 2013, and Accounting Standards (AS) notified under Companies (Accounting Standards) Amendment Rules, 2017u/s 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014.The Financial Statement have been prepared inconformity with generally accepted accounting principle to comply in all material respect with the notified accounting standards (‘AS’) under companies accounting standards Rules, as amended, the relevant provisions of the companies Act, 2013 (‘the Act’). The financial statements have been prepared under the historical cost convention on an accrual basis. The accounting policies have been consistently applied by the company and are consistent with those used in the previous year. The company adopts accrual system of accounting unless otherwise stated.

(b) Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the result of operations during the reposting year end. Although these estimates are based upon management’s best knowledge of current events and actions, actual result could differ from these estimates. Any revisions to the accounting estimates are recognized prospectively in the current and future years.

(c) Fixed Assets

There is no fixed assets in the company.

(d) Depreciation & Impairment of Assets

Depreciation on fixed assets is provided on Written down Value method, over the useful lives and in the manner prescribed in Schedule II to the Companies Act, 2013.

(e) Investment

Long-term investments are stated at cost. Provision of diminution in the value of long-term investments is made only if; such a decline is other than temporary in the opinion of the management. As in case of our company such decline is presumed to be temporary hence no provision has been created.

(f) Revenue Recognition

There are not any revenue generated from business activity

(g) Employee Benefits

Company do not follow the provision of the accounting Standard-15 “Employee benefits” as the company do not have employee more than 10 personnel’s. So it is the policy of the company that any kind of provision mentioned in the AS -15 will not be entertained. And the company does not make provision for gratuity also.

In case the company’s employee limits goes beyond the prescribed limits then AS-15 for Employee benefits will be taken into consideration.

(h) Financial Derivatives and Commodity Hedging Transaction:

In respect of Derivative contracts, premium paid, gain & losses on settlement and losses on restatement are recognized in the Statement of profit & Loss.

(h) Accounting of Inventories:

Stock in trade should be valued at cost or market price whichever is lower.

(i) Taxation

Provisions for current tax is made in accordance with and at the rates specified under the Income Tax Act, 1961, in accordance with Accounting Standard 22- ‘Accounting for taxes on Income’, issued by the Institute of Chartered Accountant of India.

(j) Earnings per share

Basic earning per share is calculated by dividing the net profit or loss for the year attributable to equity shareholders (after deducting attributable taxes) by the weighted averages number of equity shares outstanding during the year.

For the purpose of calculating diluted earnings per share, the net profit or loss for the year attributable to equity shareholders and the weighted average number of shares outstanding during the year are adjusted for the effects of all diluted potential equity shares.

(k) Cash and Cash Equivalents

Cash and cash equivalents in the cash flow statements comprise cash at bank and in hand and highly liquid investments that are readily convertible into known amount of cash

3. In the opinion of Board of Director, the current Assets, loans & advances have a value on realization in the ordinary course of business at least equal to the amount at which these are stated.

4. During the year, the company has purchase shares Quoted/unquoted and commodities (If Any) have been considered as investment by the management.

5. During the year the company has borrowed interest bearing loan from various entities.

6. During the year, the company has been traded in F& O’s.

7. Contingent liabilities and pending litigations:

There is no contingent liabilities pending against the company.

8. The company’s business activity falls within two primary/ secondary business segment viz. Finance Activity and dealing in shares & securities. The disclosure requirement of Accounting standard (AS) -17 “Segment Reporting “issued by the Institute of chartered Accountants of India, therefore is given below:

9.	Auditor’s remuneration : Particulars 2023-24 2022-23 Statutory Audit 1,18,000/- NIL
10.	Earnings per Share “AS-20” issued by the Institute of chartered Accountants of India:
	Particulars	Year ended March 31, 2024	Year ended March 31, 2023
	(A) Profit after taxation as Statement of Profit and Loss (in Rupees)	52,267	(2,21,000)
	(B) Weight Average number of equity Shares outstanding during the year	37,32,050	37,32,050
	(C) Nominal value of Equity shares (in rupees)	10.00	10.00
	(D) Basic Earnings per Share	0.01	(0.06)
	(E) Diluted Earnings per share	0.01	(0.06)

11. Related Party Disclosure:

As per Accounting Standard 18 on related Party disclosure issued by the Institute of chartered Accountants of India, the nature and volume of transaction of the company during the year with the related parties. There is no related parties during the year.

12. The Company estimates the deferred tax created / (credit) using the applicable rate of Taxation based on the impact of timing Difference s between financial Statements and Estimated taxable income for the current Year. It will be write off in next financial year.

13. There are no micro, Small and Medium Enterprises, to whom the Company owes dues which outstanding for more than 45 days as at 31^st March 2024. This information as required to be disclosed under the micro, small and medium Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with company.

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Mar 31, 2015

1. The accounts are prepared in accordance with historical cost convention and mercantile system of Accounting is followed.

AS-9 Revenue Recognition

2. With respect to Income, Interest Income is provided on accrual basis.

AS-13 Accounting for Investments

3. Investments are valued as per AS-13 issued by ICAI.

AS-17 Segment Reporting

4. The company does not have any reportable geographical or business segment. Hence AS-17 is not applicable.

AS-17 Related Party

5. The company had taken loans from the following related parties:

* Pushpa Devi Dhoot

* Padam chand Dhoot

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Mar 31, 2014

1. BASIS OF ACCOUNTING:

The financial statement has been prepared under the historical cost convention principles and provision of Companies Act, 1956 as consistently adopted by the company.

2. FIXED ASSETS:-

Fixed Assets(if any) are shown at historical cost. Intangible assets ai recorded at their cost of acquisition. Capital expenditure on assets by the company is reflected as a distinct item in Capital Work-in Progress till the period of completion and thereafter in the Fixed Assets.

3. INVESTMENTS:

Current Investments(if any) are valued at lower of cost and fair value determined on an individual basis. Long term investments are carried at cost. Provision is made for diminution, other than temporary, in the value of such investment. Premium paid on long term investments is amortized over the period remaining to maturity.

4. INCOME RECOGNITION

Dividend is recognized on the basis of receipt and other revenues are recorded on the basis of accrual basis.

5. DEPRECIATION:

Depreciation (any) is charged on SLM method at the rates specified in Schedule XIV of the Companies Assets costing up to Rs.5000/- are fully depreciated in the year of capitalization.

6. CONTINGENT LIABILITIES:

There are no Contingent liabilities as perceive by the management.

7. TAXATION:

Deferred Taxation: The Company has accounted for deferred tax in accordance with accounting standard-22"Accounting for Taxes on Income" issued by The council of the Institute of Chartered Accountants of India.

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Mar 31, 2013

1. BASIS OF ACCOUNTING:

The financial statement has been prepared under the historical cost convention principles and provision of Companies Act, 1956 as consistently adopted by the company.

2. FIXED ASSETS:-

Fixed Assets(if any) are shown at historical cost. Intangible assets are recorded at their cost of acquisition. Capital expenditure on assets by the company is reflected as a distinct item in Capital Work-in Progress till the period of completion and thereafter in the Fixed Assets.

3. INVESTMENTS:

Current Investments(if any) are valued at lower of cost and fair value determined on an individual basis. Long term investments are carried at cost. Provision is made for diminution, other than temporary, in the value of such investment. Premium paid on long term investments is amortized over tire period remaining to maturity.

4. INCOME RECOGNITION

Dividend is recognized on the basis of receipt and other revalues are recorded on the basis of accrual basis.

5. DEPRICATION:

Depreciation (if any) is charged on SLM method at the rates specified in Schedule XIV of the Companies Assets costing up to Rs.5000/- are fully depreciated in the year of capitalization.

6. CONTIGENT LIABILITIES:

There are no Contingent liabilities as perceive by the management.

7. TAXATION:

Deferred Taxation: The Company has accounted for deferred tax in accordance with accounting standard-22"Accounting for Taxes on Income" issued by The council of the Institute of Chartered Accountants of India.

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Mar 31, 2012

1. BASIS OF ACCOUNTING:

The financial statement has been prepared under the historical cost convention principles and provision of Companies Act, 1956 as consistently adopted by the company.

2. FIXED ASSETS:-

Fixed Assets(if any) are shown at historical cost. Intangible assets are recorded at their cost of acquisition. Capital expenditure on assets by the company is reflected as a distinct item in Capital Work-in Progress till the period of completion and thereafter in the Fixed Assets.

3. INVESTMENTS:

Current Investments(if any) are valued at lower of cost and fair value determined on an individual basis. Long term investments are carried at cost. Provision is made for diminution, other than temporary, in the value of such investment. Premium paid on long term investments is amortized over the period remaining to maturity.

4. INCOME RECOGNITION

Dividend is recognized on the basis of receipt and other revenues are recorded on the basis of accrual basis.

5. DEPRICATION:

Depreciation(if any) is charged on SLM method at the rates specified in Schedule XIV of the Companies Assets costing up to Rs.5000/- are fully depreciated in the year of capitalization.

6. CONTIGENT LIABILITIES:

There are no Contingent liabilities as perceive by the management.

7. TAXATION:

Deferred Taxation: The Company has accounted for deferred tax in accordance with accounting standard-22"Accounting for Taxes on Income" issued by The council of the Institute of Chartered Accountants of India.

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Mar 31, 2010

1. BASIS OF ACCOUNTING:

The financial statement has been prepared under the historical cost convention principles and provision of Companies Act, 1956 as consistently adopted by the company.

2. FIXED ASSETS:-

Fixed Assets are shown at historical cost. Intangible assets are recorded at their cost of acquisition. Capital expenditure on assets by the company is reflected as a distinct item in Capital Work-in Progress till the period of completion and thereafter in the Fixed Assets.

3. INVESTMENTS:

Current Investments are valued at lower of cost and fair value determined on an individual basis. Long term investments are carried at cost. Provision is made for diminution, other than temporary, in the value of such investment. Premium paid on long term investments is amortized over the period remaining to maturity.

4. INCOME RECOGNITION

Dividend is recognized on the basis of receipt and other revenues are recorded on the basis of accrual basis.

5. DEPRICATION:

Depreciation is charged on SLM method at the rates specified in Schedule XIV of the Companies Assets costing up to Rs.5000/- are fully depreciated in the year of capitalization.

6. MISCELLANEOUS EXPENDITURE:

Preliminary, Pre Operative and Expenses related to Public issue are to be amortized over a period often years.