Notes to Accounts of Croissance Ltd.

Mar 31, 2023

Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognised in the balance sheet when the company has a present
obligation (legal or constructive) as a result of a past event, which is expected to result
in an outflow of resources embodying economic benefits which can be reliably
estimated. Each provision is based on the best estimate of the expenditure required to
settle the present obligation at the balance sheet. Where the time value of money is
material, provisions are made on a discounted basis.

Disclosure for Contingent liabilities is made when there is a possible obligation or
present obligation arising from past events, 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 the
past events where it is either not probable that an outflow of resources embodying in
economic benefits will be required to settle or a reliable estimate of amount cannot be
made.

Disclosure for Contingent assets are made when there is possible asset that arises from
past events and whose existence will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly within the control of the
entity. However Contingent assets are neither recognized nor disclosed in the financial
statements.

1.21 Prior Period and Extraordinary and Exceptional Items:

(i) All Identifiable items of Income and Expenditure pertaining to prior period are
accounted through ‘’Prior Period Items’’.

(ii) Extraordinary items are income or expenses that arise from events or transactions
that are clearly distinct from the ordinary activities of the enterprise and,
therefore, are not expected to recur frequently or regularly. The nature and the
amount of each extraordinary item be separately disclosed in the statement of
profit and loss in a manner that its impact on current profit or loss can be
perceived.

(iii) Exceptional items are generally non-recurring items of income and expenses
within profit or loss from ordinary activities, which are of such, nature or
incidence.

1.22 Financial Instruments (Ind AS 107 Financial Instruments: (Disclosures)I. Financial assets:A. Initial recognition and measurement

All financial assets and liabilities are initially recognized at fair value. Transaction costs
that are directly attributable to the acquisition or issue of financial assets and financial
liabilities, which are not at fair value through profit or loss, are adjusted to the fair value
on initial recognition.

B. Subsequent Measurementa) Financial assets measured at amortized cost (AC)

A financial asset is measured at amortized cost if it is held within a business model
whose objective is to hold the asset in order to collect contractual cash flows and the
contractual terms of the financial asset give rise on specified dates to cash flows that are
solely payments of principal and interest on the principal amount outstanding.

b) Financial assets at fair value through other comprehensive income (FVTOCI)

A financial asset is measured at FVTOCI if it is held within a business model whose
Objective is achieved by both collecting contractual cash flows and selling financial
assets and the contractual terms of the financial asset give rise on specified dates to cash
flows that are solely payments of principal and interest on the principal amount
outstanding.

c) Financial assets measured at fair value through profit or loss (FVTPL)

A Financial asset which is not classified in any of above categories are measured at
FVTPL e.g., investments in mutual funds. Financial assets are reclassified subsequent to
their recognition, if the Company changes its business model for managing those
financial assets. Changes in business model are made and applied prospectively from the
reclassification date which is the first day of immediately next reporting period
following the changes in business model in accordance with principles laid down under
Ind AS 109 -Financial Instruments.

II. Financial LiabilitiesA. Initial recognition

All financial liabilities are recognized at fair value and in case of borrowings, net of
directly attributable cost. Fees of recurring nature are directly recognized in the
Statement of Profit and Loss as finance cost.

B. Subsequent measurement

Financial liabilities are carried at amortized cost using the effective interest method. For
trade and other payables maturing within one year from the balance sheet date, the
carrying amounts approximate fair value due to the short maturity of these instruments.

1.24 Operating Segments (Ind AS 108)

Operating segment is a component of an entity:

a. That engages in business activities from which it may earn revenues and incur
expenses (including revenues and expenses relating to transactions with other
components of the same entity).

b. Whose operating results are regularly reviewed by the entity’s chief operating decision
maker to make decision about resources to be allocated to the segments and assess its
performance, and

c. For which discrete financial information is available.

The company has only one business segment such as "Realty" operating services. Hence
reporting under IND AS 108 is not applicable.

1.25 Events After the Reporting Period (Ind AS 10)

Events after the reporting period are those events, favorable and unfavorable, that occur
between the end of the reporting and the date when the financial statements are
approved by the Board of Directors in case of a company, and, by the corresponding
approving authority in case of any other entity for issue. Two types of events can be
identified:

a. Those that provide evidence of conditions that existed at the end of reporting
period (adjusting events after the reporting period);

b. Those that are indicative of conditions that arose after the reporting period ( non¬
adjusting events after the reporting period).

An entity shall adjust the amounts recognized in its financial statements to reflect
adjusting events after the reporting period.

As per the information provided and Books of Accounts no such events are identified
during the reporting period. Hence Ind AS 10 Events After the Reporting Period is not
applicable.

1.26 Construction Contracts (Ind AS 11)

Construction contract is a contract specifically negotiated for the construction of an asset
or a combination of assets that are closely interrelated or interdependent in terms of their
design, technology, and function or their ultimate purpose or use. The company is in the
business of engaged in "Realty" operating services, hence Ind AS 11 Construction
Contract not applicable.

1.27 Income Taxes (Ind AS 12)

The Tax Expense for the period comprises of current and deferred tax.

• Current Tax:

Current Tax Assets and Liabilities are measured at the amount expected to be recovered
from or paid to the Income tax authorities, based on tax rates and laws that are enacted
at the Balance Sheet date.

• Deferred Tax:

Deferred tax liabilities are recognized for all timing differences. Deferred tax assets are
recognized for deductible timing differences only to the extent that there is reasonable
certainty that sufficient future taxable income will be available against which such
deferred tax assets can be realized. In situations where the Company has unabsorbed
depreciation or carry forward tax losses, all deferred tax assets are recognized only if
there is virtual certainty supported by convincing evidence that they can be realized
against future taxable profits.

At each reporting date, the Company re-assesses unrecognized deferred tax assets. It
recognizes unrecognized deferred tax asset to the extent that it has become reasonably
certain or virtually certain, as the case may be, that sufficient future taxable income will
be available against which such deferred tax assets can be realized.

The carrying amount of deferred tax assets are reviewed at each reporting date. The
Company writes-down the carrying amount of deferred tax asset to the extent that it is
no longer reasonably certain or virtually certain, as the case may be, that sufficient
future taxable income will be available against which deferred tax asset can be realized.
Any such write-down is reversed to the extent that it becomes reasonably certain or
virtually certain, as the case may be, that sufficient future taxable income will be
available.

New and Amended Standards1.28 Amendment to Ind AS 116: COVID -19 Related Rent Concessions:

The amendments provide relief to lessees from applying Ind AS 116 guidance on
lease modification accounting for rent concessions arising as a direct consequence of
Covid-19 pandemic. As a practical expedient, a lessee may elect not to access
whether a Covid-19 related rent concession from a lessor is lease modification. A
lessee that makes this election accounts for any change in lease payments resulting
from COVID-19 related rent concession the same way it would account for the
changes under Ind AS 116, if changes were not lease modifications. This Amendment
had no impact on the standalone financial statements of the Company.

1.29 Amendment to Ind AS 1 and Ind AS 8: Definition of material:

The Amendments provide a new definition of material that states “information is
material if omitting, misstating or obscuring it is reasonably be expected to influence
decisions that the primary uses of general-purpose financial statements make on the
basis of those financial statements, which provide financial information about specific
reporting entity”. The amendments clarify that materiality will depend on the nature
of magnitude of information, either individually or in combination with other
information, in the context of the financial year statements. A misstatement of
information is material if it could reasonably be expected to influence decisions made
by the primary users. These amendments had no impact on standalone financial
statements of the company.

1.30 Amendment to Ind AS 107 and Ind AS 109: Interest Rate Benchmark Reform:

The amendments to Ind AS 109 Financial Instruments: Recognition and
Measurements provide number of reliefs, which apply to all hedging relationships that
are directly affected interest rate benchmark reform. A hedging relationship is
affected if the reform gives raise to uncertainty about the timing and/or amount of
bench mark -based cash flow of hedging items or hedging instrument. These
amendments have no impact on the standalone financial statements of the company as
it does not have any interest rate hedge relation.

The amendment to Ind AS 107 prescribe the disclosure which entities are required to
make for hedging relationship to which the reliefs as per the amendments in Ind AS
109 are apply. This amendment had no impact on the standalone financial statement
of the company.

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Mar 31, 2018

1 The Board of Directors assesses the financial performance of the Company and make strategic Decisions. The Company has only one reportable segment i.e. Infrastructure Development and Realty Activities’ and hence no separate disclosures are required under Ind AS 108

2. Earnings per share (EPS):

The details of number of Equity shares used in calculating Basic and Diluted earnings per share are set out below:

3. The Company has not received any information from any of the supplier of their being Micro,

Small and medium enterprises Hence, the amounts due to Micro, Small and Medium enterprises outstanding as on 31-03-2018 was Rs. Nil

4. Balances in respect of trade payables, vanous advances and trade receivables are subject to confirmation from the respective parties.

5.1 Financial Risk Management

In course of its business, the company is exposed to certain financial nsk such as market risk (Including currency nsk and other price nsks|, credit nsk and liquidity nsk that could have significant influence on the company’s business and operational/financial performance. The Board of directors reviews and approves nsk management framework and policies for managing these risks and monitor suitable mitigating actions taken by the management to minimize potential adverse effects and achieve greater predictability to earnings.

5.2 Credit risk

Credit risk refers to the nsk that counterparty will default on its contractual obligations resulting in financial loss to the company. The company has adopted a polio,- of only dealing with creditworthy counterparties and obtaining sufficient collateral, where appropriate, a means of mitigating the nsk of financial loss from defaults.

The company makes an allowance for doubtful debts/advances using expected credit loss model.

5.3 Liquidity risk

Liquidity risk refers to the risk that the company cannot meet its financial obligations. The objective of liquidity risk management is to maintain sufficient liquidity and ensure that funds are available for use as pre requirements. The Company’s exposure to liquidity risk is minimal.

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Mar 31, 2014

Not Available.

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Mar 31, 2013

1. Contingent Liabilities: There are no Contingent liabilities as on date.

2. The Company has no Subsidiaries.

3. Auditors Remuneration: 30000/-

4. No outstanding amounts payable to micro, small and medium enterprises.

5. Segmentinformation:

Revenue of the Company comes from a single segment of operating activities, as also economic environment in the whole of country is one, Segment Reporting as required under Accounting Standard -17 has not been given.

6. CIF value of import in respect of capital goods: Nil.

Expenditure and Earnings in Foreign Currency: Nil (Previous Year: Nil)

7. Retirement benefits / Gratuity will be considered in accounts on payment basis. However no employee qualifies for the same.

8. Related party transactions:

As per AS-18 issued by The Institute of Chartered Accountants of India, the disclosures of transactions with the related parties as defined in the Accounting Standard are NIL.

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Mar 31, 2012

1. Contingent Liabilities: There are no Contingent liabilities as on date.

2. The Company has no Subsidiaries.

3. Auditors Remuneration : 30000/-

4. No outstanding amounts payable to micro, small and medium enterprises.

5. Segment information:

Revenue of the Company comes from a single segment of operating activities, as also economic environment in the whole of country is one, Segment Reporting as required under Accounting Standard - 17 has not been given.

6. CIF value of import in respect of capital goods: Nil.

Expenditure and Earnings in Foreign Currency: Nil (Previous Year: Nil)

7. Retirement benefits / Gratuity will be considered in accounts on payment basis. However no employee qualifies for the same.

8. Related party transactions:

As per AS-18 issued by The Institute of Chartered Accountants of India, the disclosures of transactions with the related parties as defined in the Accounting Standard are NIL.

9. There were no employees in respect of remuneration of Rs. 24 00 000/- or more per annum or Rs. 2 00 000/- or more per month, if employed for part of the year.

10. Additional information pursuant paragraphs 3, 4C and 4D of part II of schedule of VI of the companies Act, 1956 is not applicable to the Company.

11. Figures for the previous year are regrouped and rearranged, wherever necessary.