Notes to Accounts of Grand Oak Canyons Distillery Ltd.

Mar 31, 2025

3.22. Provisions, Contingent Liabilities and Contingent Assets

3.22.1. Provisions

Provisions are recognized when there is a present obligation (legal or constructive) as a
result of a past event and it is probable that an outflow of resources embodying economic
benefits will be required to settle the obligation and a reliable estimate can be made of
the amount of the obligation. Provisions are determined by discounting the expected
future cash flows (representing the best estimate of the expenditure required to settle the
present obligation at the balance sheet date) at a pre-tax rate that reflects current market
assessments of the time value of money and the risks specific to the liability. The
unwinding of the discount is recognized as finance cost.

3.22.2. Contingent Liabilities

Contingent liability is a possible obligation arising from past events and 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 that arises from past events but is not recognized because it is not possible
that an outflow of resources embodying economic benefit will be required to settle the
obligations or reliable estimate of the amount of the obligations cannot be made. The
Company discloses the existence of contingent liabilities in Other Notes to Financial
Statements.

3.22.3. Contingent Assets

Contingent assets usually arise from unplanned or other unexpected events that give rise
to the possibility of an inflow of economic benefits. Contingent Assets are not recognized
though are disclosed, where an inflow of economic benefits is probable.

3.22.4. Intangible Assets

3.22.4.1. Recognition and Measurement

Intangible assets are stated at cost on initial recognition and subsequently
measured at cost less accumulated amortization and accumulated impairment
loss, if any.

3.23. Amortization

3.23.1. Software’s are amortized over a period of three years.

3.23.2. The amortization period and the amortization method are reviewed at least
at the end of each financial year. If the expected useful life of the assets is
significantly different from previous estimates, the amortization period is changed
accordingly.

3.24. Operating Segment

Operating segments are reported in a manner consistent with the internal reporting
provided to the chief operating decision maker. The chief operating decision maker of the
Company is responsible for allocating resources and assessing performance of the
operating segments and accordingly is identified as the chief operating decision maker.
The Company has identified one reportable segment only based on the information
reviewed by the CODM.

4. SIGNIFICANT JUDGEMENTS AND KEY SOURCES OF ESTIMATION IN APPLYING

ACCOUNTING POLICIES

4.1. Estimates and judgments are continually evaluated. They are based on historical
experience and other factors, including expectations of future events that may have a
financial impact on the Company and that are believed to be reasonable under the
circumstances. Information about Significant judgments and Key sources of estimation
made in applying accounting policies that have the most significant effects on the
amounts recognized in the financial statements is included in the following notes:

4.2. Recognition of Deferred Tax Assets: The extent to which deferred tax assets can be
recognized is based on an assessment of the probability of the Company’s future
taxable income against which the deferred tax assets can be utilized. In addition,
significant judgment is required in assessing the impact of any legal or economic
limits.

4.3. Classification of Leases: The Company enters into leasing arrangements for various
assets. The classification of the leasing arrangement as a finance lease or operating
lease is based on an assessment of several factors, including, but not limited to,
transfer of ownership of leased asset at end of lease term, lessee’s option to purchase
and estimated certainty of exercise of such option, proportion of lease term to the
asset s economic life, proportion of present value of minimum lease payments to fair
value of leased asset and extent of specialized nature of the leased asset.

4.4. Where the rate implicit in the lease is not readily available, an incremental borrowing
rate is applied. This incremental borrowing rate reflects the rate of interest that the
lessee would have to pay to borrow over a similar term, with a similar security, the
funds necessary to obtain an asset of a similar nature and value to the right of-use
asset in a similar economic environment Determination of the incremental borrowing
rate requires estimation.

4.5. Defined Benefit Obligation (DBO): Employee benefit obligations are measured on the
basis of actuarial assumptions which include mortality and withdrawal rates as well as
assumptions concerning future developments in discount rates, medical cost trends,
anticipation of future salary increases and the inflation rate. The Company considers
that the assumptions used to measure its obligations are appropriate. However, any
changes in these assumptions may have a material impact on the resulting
calculations.

4.6. Provisions and Contingencies: The assessments undertaken in recognising provisions
and contingencies have been made in accordance with Indian Accounting Standards
(Ind AS) 37, ‘Provisions, Contingent Liabilities and Contingent Assets’. The evaluation
of the likelihood of the contingent events is applied best judgment by management
regarding the probability of exposure to potential loss.

4.7. Impairment of Financial Assets: The Company reviews it carrying value of investments
carried at amortized cost annually, or more frequently when there is indication of
impairment. If recoverable amount is less than its carrying amount, the impairment
loss is accounted for.

4.8. Allowances for Doubtful Debts: The Company makes allowances for doubtful debts
through appropriate estimations of irrecoverable amount The identification of doubtful
debts requires use of judgment and estimates. Where the expectation is different from
the original estimate, such difference will impact the carrying value of the trade and
other receivables and doubtful debts expenses in the period in which such estimate
has been changed.

4.9. Fair value measurement of financial Instruments: When the fair values of financial
assets and financial liabilities recorded in the balance sheet cannot be measured
based on quoted prices in active markets, their fair value is measured using valuation
techniques including the Discounted Cash Flow model. The input to these models are
taken from observable markets where possible, but where this not feasible, a degree
of judgement is required in establishing fair values. Judgements include considerations
of inputs such as liquidity risk, credit risk and volatility.

Other Notes

4.10. Details of Crypto / Virtual Currency

There were no Transaction and Financial Dealing in Crypto / Virtual Currency during
the Financial Year 2024-25

4.11. 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 2025. 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.

The Note Referred to above form as an integral part of Balance Sheet.

For GRAND OAK CANYONS DISTILLERY LIMITED
For VRSK & Associate (Formerly Known As Pacheli Industrial Finance Limited)

Chartered Accountants

(CA. RAHUL JAIN) PIYUSH HARSH

p_artner (MANAGING DIRECTOR) (DIRECTOR)

, l,- m nooi O/i DIN-10727781 DIN: 09021074

Membership No. 099134 ADD: QNO-19C, BARWALA ROAD, NEAR ADD: HOUSE NO. 6295, GAU

FRN: 011199N sadar thana, new police line, hisar, guruduwara, nabi

HARYANA 125001 KARIM, PAHAR GANJ, CENTAL

DATE: 31/05/2025 DELHI -110055

DATE: 31/05/2025

Place : New Delhi

Dated : 31/05/2025 MIIKFSH SAH SARVAGYA GOEL

MUIVton OAM (COMPANY SECRETARY)

^UDIN: I^CF°) M.No. - ACS44644

PAN: EOBPS7870M ADD: WARD NO: 54, RAJIV GANDHI

ADD: HOUSE NO 22 BESMENT, COLONY. sujANGARH ,

RAJENDRAPARK, RAJENDER NAGAR, SUJANGARH (RURAL), PO

PO: RAJENDER NAGAR, SUJANGARH, CHURU, RAJASTHAN-

DIST:CENTRAL DELHI DELHI - 110060 331507

DATED: 31/05/2025 DATED : 31/05/2025

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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. B)Rights, preferences and restrictions attached to Equity shares

The Company has one class of equity shares having a par value of ' 10 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors,if any is subject to the approval of the shareholders in the ensuingAnnual 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.

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Mar 31, 2014

1. There is no earning in Foreign Exchange nor any expenditure in foreign Exchange.

2. There are no Sundry Creditors at the end of the year who has registered as Smalt Scale Industries. Hence relevant information is not applicable.

3. There is no Fixed Assets as per Companies Act. 1956 and thus No Deferred Tax Provision has been made.

4. Debtors, Creditors, Loans & Advances are subject to confirmations.

5. Previous year figures have been regrouped, rearranged and recosted to Correspond the figures of the current year.

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Mar 31, 2013

1. There is no earning in Foreign Exchange nor any expenditure in foreign Exchange.

2. There are no Sundry Creditors at the end of the year who has registered as Small Scale Industries. Hence relevant information is not applicable.

3. Previous year figures have been regrouped, rearranged and recosted to Correspond the figures of the current year.

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Mar 31, 2012

1. There is no earning in Foreign Exchange nor any expenditure in foreign Exchange.

2. There are no Sundry Creditors at the end of the year who has registered as Small Scale Industries. Hence relevant information is not applicable.

3. Previous year figures have been regrouped, rearranged and recosted to Correspond the figures of the current year.

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Mar 31, 2010

1. CONTIGENT LIABILITIES:

There are no Contingent liabilities as perceive by the management.

2. The company has investment of Rs. 1,13,79,838/- in quoted shares and unquoted Shares and unquoted shares. The investments are valued at cost. The valuation of Investment has melt down. There is no Provision for the probable loss that may Arise since same is considered as to be temporary in nature.

3. 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.

4. RELATED PARTY TRANSACTIONS;

Associates:

Zenu Infotech Ltd

Annanaya Enterprises

Pankaj Dhoot HUF

P.CDhoot HUF

Total Investments P. Ltd

Key Management Personnel

Padamchand Dhoot

Pushpadevi Dhoot

Pankaj Dhoot

Anuradha Dhoot

Pankaj Dhoot

5 SEGMENT REPORTING (Accounting Standarc17)

The company operates under single business segment of Granites sales & rest major income is Interest.

6 There is no earning in Foreign Exchange nor any expenditure in foreign Exchange.

7. There are no Sundry Creditors at the end of the year who has registered as Small Scale Industries. Hence relevant information is not applicable.

8. Previous year figures have been regrouped, rearranged and recosted to Correspond the figures of the current year.