Notes to Accounts of Safecure Services Ltd.

Mar 31, 2025

XI. Provision, rniil im''i''lil Liabilities & Contingent Assets

Provisions are recognized only when there is a present obligation as a result of past events and when a reliable estimate of the amount of the
obligation can be made.

Contingent Liabilities is disclosed in Notes to the account for:-

(i) Possible obligations which will be confirmed only by future events not wholly within the control of the company or

(ii) Present Obligations arising from past events where it is not probable that an outflow of resources will be required to settle the obligation or a
reliable estimate of the amount of the obligation cannot be made.

Contingent assets are not recognized in the financial statement since this may result in the recognition of the income that may never be realized.

XII. Current and non-current classification

The Company presents assets and liabilities in the balance sheet as based on current / non-current classification.

An asset is classified as current when it satisfies any of the following criteria:

- It is expected to be realised in, oris intended for sale or consumption in, the Company''s normal operating cycle.

- It is held primarily for the purpose of being traded;

- It is expected to be realised within 12 months after the reporting date; or

- It is cash or .cash equivalent unless it is restricted from being exchanged or used to settle a liability for at least 12 months after the reporting
date.

- All other assets are classified as non-current

A liability is classified as current when it satisfies any of the following criteria:

- It is expected to be settled in the Company’s normal operating cycle;

- It is held primarily for the purpose of being traded

- It is due to be settled within 12 months after the reporting date; or the Company does not have an unconditional right to defer settlement of the
liability for at least 12 months after the reDortine date. Terms of a liability'' that could, at the ODtion of the counterparty. result in its settlement bv

XIII. Contingencies ft Events occurring after the balance sheet date

Event occurring after the date of balance sheet, which provide further evidence of conditions that existed at the Balance Sheet or that arise
subsequently, are considered up to the date of approval of accounts by the Board of Directors, where material.

XIV. Earning Per Share

Basic earningper share is calculated by dividing the net profit after tax by the weighted average number of equity shares outstanding during the
year. Diluted earing per share adjusts the figures used in determination of basic earnings per share to take into account the conversion of all
dilutive potential equity shares.

XH.Lease expense

The Company, as a lessee, recognises a right of-use asset and a lease liability for its leasing arrangements, if the contract conveys the right to
control the use of an identified asset Initially the right of use assets measured at cost which comprises initial cost of the lease liability adjusted
for any lease payments made at or before the commencement date plus any initial direct costs incurred. Subsequently measured at cost less any
accumulated depreciation/ amortisation, accumulated impairment losses, if any and adjusted for any remeasurement of the lease liability.

The right-of-use assets is depreciated/ amortised using the straight-line method from the commencement date over the shorter of lease term or
useful life of right-of-use asset

The Company measures the lease liability at the present value of the lease payments that are not paid at the commencement date of the lease.
The lease payments are discounted using the interest rate implicit in the lease, if that rate can be readily determined, if that rate cannot be
readily determined, the Company uses incremental borrowing rate.

For short-term and low value leases, the Company recognises the lease payments as an operating expense on a straight-line bas is over the lease

XV. Others

Except wherever stated, accounting policies are consistent with the Indian Accounting Standard and have been consistently applied.

XVI. The various figures of financial statementhave been regrouped or reclassified wherever necessary.

The financial instruments are categorised into three levels based on the inputs used to arrive at fair value measurements as
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: Inputs other than the quoted prices included within Level 1 that are observable for the asset or liability, either directly or
Level 3: Inputs based on unobservable market data.

Valuation Methodology

All financial instruments are initially recognised and subsequently re-measured at fair value as described below:

a) The fair value of the quoted equity instruments is determined using market price listed on stock exchange.

b) tlie fair value of the remaining financial instruments is determined using discounted cash flow analysis and the discount rates used
were adjusted for counterparty crown credit risk.

B. Financial Risk Management

The company’s activities expose it to variety of financial risks: market risk, credit risk, interest rate risk and liquidity risk.

The Company’s principal financial liabilities, other than derivatives, comprise borrowings, trade and other payables. The main purpose of these
financial liabilities is to finance the Company''s operations. The Company’s principal financial assets include trade and other receivables,
and cash and cash equivalents that derive directly from its operations.

Company''s senior management oversees the management of these risks. It is Company''s policy that no trading in derivatives for speculative purposes may be
11 Market Risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk
comprises three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk and commodity risk

a) Currency Risk

Foreign currency risk is the risk that the Fair Value or Future Cash Flows of an exposure will fluctuate because of changes in foreign currency rates.

Exposures can arise on account of the various assets and liabilities which are denominated in currencies other than Indian Rupee

The Company does not face any Foreign currency risk as it executes a forward contract and a forward contract acts as a shield against foreign currency risk for
the company. It guarantees a specific exchange rate for a future transaction, eliminating the uncertainty caused by volatile currency markets. -

b) Interest Rate Risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Company
have exposure to the risk of changes in market interest rates as Company''s debt obligations is at floting interest rates. Interest Rate Sensitivity on Interest
Amounts is as follows

c) Other Price Risk

The Group is not an active investor in equity markets; it holds certain investments in Mutual Fund which are recognised to be liquidated in
short term and are accordingly measured at fair value through Other Comprehensive Income.

iii) Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual
obligations. The Company is exposed to credit risk from its operating activites (primarily trade receivables] and from its financing /
investing activities, including deposits with banks and mutual fund investments. The Company has no significant concentration of credit
risk with any counterparty.

The carrying amount of following financial assets represents the maximum credit exposure:

(1] Trade receivables

The Company''s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However, management also
considers the factors that may influence the credit risk of its customer base, including the default risk of the industry and country in which
customers operate. The Company has a credit evaluation policy for each customer and based on the evaluation, credit limit of each
customer is defined. The Risk Management Committee has established a credit policy under which each new customer is analysed
individually for creditworthiness before the Comnanv’s standard navmentand delivery terms and conditions are offered. The Comoanv’s

(2] Cash and Cash equivalents, bank balances and other financial assets

The Company maintains exposure in cash and cash equivalents and deposits with banks. Cash and cash equivalents and bank deposits are
held with high rated banks/financial institutions and short term in nature, therefore credit risk is nerceived to be low.

iv) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that
are settled by delivering cash or another financial asset. The Company''s approach to managing liquidity is to ensure, as far as possible, that
it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring
unacceptable losses or risking damage to the Company’s reputation.

The majority of the Company’s trade receivables are due for maturity within 60 days from the date of billing to the customer. The
difference between the above mentioned credit period provides surplus working credit requirements.

Note: 34 Segment Reporting

The Groups chief operating decision maker measures performance and allocation of resources based on review of single operating segment i.e. "Supply
of manpower services". Hence, results presented in statement of profit & loss are sufficient & separate reporting under Ind AS 108 is not required.

Note: 35 Rearranging of Previous Year Figures

Previous year''s figures have been regrouped/reclassified wherever necessary to confirm to currentyear presentation.

Note: 36 Relationships with Struck off companies

During the year, the Company had no transactions with struck off companies.

Note: 37 Borrowing against current assets

Books reconciliation with Statement sumbited to bank

The statements of current assets filed by the Company with banks or financial institutions are in agreement with the books of accounts

Note 38: Post reporting date events-

No adjusting or significant non-adjusting events have occurred between 31th March, 2025 and the date of authorisation of these financial statements.
Note 39: Director Personal Expenses-

There are no direct personal expenses debited to the profit and loss account. However, personal expenditure if included in expenses like telephone,
vehicle expenses etc. are not identifiable or separable.

Note 40 : Compliance with number of layers of companies -

The Company has complied with the relevant provisions of the Companies Act, 2013 read with the Companies (Restriction on number of layers) Rules, 20
The Company has not exceeded the prescribed number of layers of subsidiaries as provided in the said rules.

Note 41: Other Statutory Information

1. The Company and its Subsidiaries does not have any Henami property, where any proceeding has been initiated or pending against the company
and its Subsidiaries tor holding any benami property

2. The Company and its Subsidiaries has not traded or invested in Crypto Currency or Virtual Currency during the financial year/period.

3. The Company and its Subsidiaries does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period.

4. The Company and its Subsidiaries does not have any such transaction which is not recorded in the books of accounts that has been
surrendered or disclosed as income during the period/year in the tax assessments under the Income Tax Act 1961 (such as, search or
surveyoranyotherrelevantprovisionsofthelncomeTaxAct, 1961).

b. The Company has not been declared a willful defaulter by any bank or other lender (as defined under the Companies Act, 2U13 J, in accordance with
the guidelines on willful defaulters

6. The Company has used the borrowings from banks and financial institutions for the specific purpose for which it was taken

7. There is no revaluation made by the Company in any of the reported financials years.

8. Company has not purchases its own shares out of free reserves or securities premium account

9. The Financial Statements of a''company comply with the accounting standards referred in Section 129(1)

10. Corporate Social Responsibility (CSR) related provisions are applicable on the company during the financial year

The CSR is applicable to the company as per the provisions of the Companies Act,2013, since the profits earned in the FY 2023-24, has exceeded the
threshold limit of 5cr net profit in the financial year 2023-24 as per the Sec 135 of Companies Act;2013.

Note X: Prior Period Error

'' During the current yea.r, the Company identified a prior period error relating to the FY 23-24 & FY 24-25. Certain expenses incurred in connection

with the Initial Public Offering (IPO) were incorrectly charged to the Statement of Profit and Loss instead of being capitalised as per applicable
accounting standards.

In accordance''with Ind AS 8 - Accounting Polities, Changes in Accounting Estimates and Errors, the error has been corrected retrospectively,
and the comparative figures for the previous period have been Audited.

Nature of Error: The Company had incurred pre-IPO expenses which met the criteria for capitalisation (i.e., directly attributable to equity issuance).
However, these were erroneously expensed in the Statement of Profit and Loss for the year ended March 2024 & 2023.

The correction has resulted in a decrease in expenses and corresponding increase in Profits. There is no impact on the cash flows of the Company.

Note X: Prior Period Error

During the current year, the Company identified a prior period error relating to the FY 23-24 & FY 24-25. Certain expenses incurred in connection with th
Public Offering (IPO) were incorrectly charged to the Statement of Profit and Loss instead of being capitalised as per applicable accounting standards.

in accordance with Ind AS 8 - Accounting Policies, Changes in Accounting Estimates and Errors, the error has been corrected retrospectively,
and the comparative figures for the previous period have been Audited.

Nature of Error: The Company had incurred pre-IPO expenses which met the criteria for capitalisation (i.e., directly attributable to equity issuance). Hows
erroneously expensed in the Statement of Profit and Loss for the year ended March 2024 & 2023.

The correction has resulted in a decrease in expenses and corresponding increase in Profits. There is no impact on the cash flows of the Company.

For and on behalf of the Board of Directors
SAFECURE SERVICES LIMITED

For HRJ&Associates " C1N: U93030MH2012PLC237385 t

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/. SHAILENBRAMAHESHPAND^.1 NIKITSHAILENDHAPANDEY

Aj '' (MANAGING DIRECTOR) ''l (WHOLE TIME DIRECTOR) //

/ ^V Ar (DIN.06403434) (DIN.09S59834)

place: Mumbai II ^ I ¦— ’ ]C/)|| REVATI RAMAN SHARMA H^?SHITA‘§INGHAL ^s

pate: 01-JULY-2025 |\0\ i- / #// (CFO)! (COMPANYSECRETARY)

^JDIN: tt^VRN 138235VV^W Membership No: A62363

_nx\ y DATE: 1ST JULY 2025

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