Notes to Accounts of Rajeshwari Cans Ltd.

Mar 31, 2025

A. Significant Accounting Policies: -

1. The company follows the Mercantile System of Accounting.

2. Depreciation on fixed assets is provided on Useful Life method in accordance with section-123 of the companies Act, 2013 at the rate and in the manner prescribed in schedule-II of the said Act. From the date this schedule comes into effect.

B. Notes on Accounts: -

1. The figures in the Profit & Loss A/c and Balance Sheet have been rounded off to the thousand Rupee.

2. Inventories are taken, as valued and certified by the management.

3. Sundry Debtors, Sundry Creditors, Secured Loan are subject to Confirmation from the parties.

4. In the opinion of the management, Sundry Current assets and Advances are expected to be realized at the value shown in the Balance sheet of the Company as 31.03.2025.

5. These financial statements are responsibility of the management of the company and our responsibility is to express our opinion on this financial statement based on our audit. The Presentation of financial statements requires estimates and assumptions to be made that affect the reported amount. Differences between the actual and estimated results are recognized in the period in which the results are known determined.

6. Revenue Expenses where otherwise not verifiable have been verified on the basis of self authenticated vouchers.

7. The Directors have certified that all expenses are incurred exclusively for the purpose of business and no personal expenditure of any sort has been debited to the Profit & Loss A/c.

8. GST Figures are subject to reconciliation with GST returns and ledgers as per GST portal.

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Mar 31, 2024

13. PROVISIONS. CONTINGENT LIABILITIES AND CONTINGENT ASSETS: -

As certified by the Management, there is no contingent liability on the company and all known and estimated liabilities have been provided for in the books of accounts.

14. ACCEPTANCE OF DEPOSITS: -

During the year under the audit, the company has not accepted deposits from public as covered U/s 73 of the Companies Act, 2013.

15. TAXATION: -

Current Tax is measured at the amount expected to be paid tax authorities, using the applicable tax rates & tax laws. The company has made provision for income tax at Rs. 43,85,000/- for the year ended on 31.03.2024.

16. APPLICABILITY OF AS-22: -

To comply with the requirements of the Accounting Standard 22 (AS-22) “Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company has made provision for Deferred Tax Asset of Rs. 9,29,217/- for the year ended as on 31.03.2024.

17. APPLICABILITY OF AS-18: -

In accordance with the requirements of Accounting Standard 18 (AS-18) "Related Party Transactions" issued by the Institute of Chartered Accountant of India, the following persons are considered as Related Party as defined in AS-18: -

18. Applicability of AS-16 Borrowing Cost:

Borrowing costs, that are attributable to the acquisition or construction of qualifying assets, are capitalized as part of the cost of such assets upto the commencement of commercial operations. A qualifying asset is one that necessarily takes substantial period of time to get

ready for intended use. All other borrowing costs are recognized as expense in the year in which they are incurred.

19. Additional Information: -

Additional information required to be given as per para 3 & 4 Schedule III of the Companies Act, 2013 is furnished below (as submitted and certified by the management)

22. Working Capital/Borrowings:

The company has borrowings from banks or financial institutions on the basis of security of current assets, as certified by the Management, the quarterly returns or statements of current assets filed by the Company with banks are largely in agreement with the books of accounts.

23. TRADE RECEIVABLES AGEING SCHEDULE:

Long Term Trade Receivables in Other non -current assets due for payment to the Company shall consist of an ageing schedule: -

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Mar 31, 2023

13. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS: -

As certified by the Management, there is no contingent liability on the company and all known and estimated liabilities have been provided for in the books of accounts.

14. ACCEPTANCE OF DEPOSITS: -

During the year under the audit, the company has not accepted deposits from public as covered U/s 73 of the Companies Act, 2013.

15. TAXATION: -

Current Tax is measured at the amount expected to be paid tax authorities, using the applicable tax rates & tax laws. The company has made provision for income tax at Rs. 44,80,000/- for the year ended on 31.03.2023.

16. APPLICABILITY OF AS-22: -

To comply with the requirements of the Accounting Standard 22 (AS-22) “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India, the company has made provision for Deferred Tax Asset of Rs. 38,771/- for the year ended as on 31.03.2023.

6. Revenue Expenses where otherwise not verifiable have been verified on the basis of self authenticated vouchers.

7. The Directors have certified that all expenses are incurred exclusively for the purpose of business and no personal expenditure of any sort has been debited to the Profit & Loss A/c.

8. TDS Receivable from the Non-Banking Companies from Past years is now not recoverable and booked as Miscellanies Expense during the year for Rs. 1,97,631/-.

9. GST Figures are subject to reconciliation with GST returns and ledgers as per GST portal.

Place: Ahmedabad For, Bhagat & co.

Date: 29.05.2023 Chartered Accountants,

FRN: 127250W

CA. Shankar Prashad Bhagat Partner

Mem. No.: 052725

UDIN: 23052725BGWWCK1038