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Notes to Accounts of Grandeur Products Ltd.

Mar 31, 2015

1. Basis of preparation of financial Statements:

The Financial statements have been prepared under the historical cost convention on accrual basis. The mandatory applicable accounting standards in India and the provisions of the companies Act, 2013 have been followed in preparation of these financial statements.

All assets and liabilities have been classified as current or non-current as per the operating cycle criteria set out in the Revised Schedule III to the Companies Act, 2013.

Note 2:

b) Contingent Liabilities and Capital Commitments:

For the FY For the FY 2014-15 2013-14

(i) Outstanding Guarantee given by the company Nil Nil

(ii) Claims against company not acknowledge as debt Nil Nil

(iii) Claims made by the company not acknowledge as debt Nil Nil