Notes to Accounts of Touchwood Entertainment Ltd.

Mar 31, 2025

j. Provisions, Contingent Liabilities and
Assets

Provisions are recognised when the Company
has a present obligation (legal or constructive)
as a result of a past event, 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.

If the effect of the time value of money is
material, provisions are discounted using a
current pre-tax rate that reflects, when
appropriate, the risks specific to the liability.
When discounting is used, the increase in the
provision due to the passage of time is
recognised as a finance cost.

A contingent liability exists when there is a
possible but not probable obligation, or a
present obligation that may, but probably will
not, require and outflow of resources, or a
present obligation whose amount cannot be
estimated reliably. Contingent liabilities do not
warrant provisions, but are disclosed unless
the possibility of outflow of resources is remote.
Contingent assets are neither recognised nor
disclosed in the financial statements.
However, contingent assets are assessed
continuously and if it is virtually certain that
an inflow of economic benefits will arise, the
asset and related income are recognised in the
period in which the change occurs.

A contingent asset is not recognised but
disclosed, when 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 Company.

k. Employee Benefits

l. Short-Term Obligations

Short-term obligations liabilities for wages and
salaries, including nonmonetary benefits that are
expected to be settled wholly within twelve
months after the end of the period in which the
employees render the related service are
recognised in respect of employees'' services up to
the end of the reporting period and are measured
at the undiscounted amounts expected to be paid
when the liabilities are settled. The liabilities are
presented as current benefit obligations in the
balance sheet

ii. Retirement and Other Employee Benefits

The Company provides for Gratuity covering
eligible employees of company. The Gratuity
provides a lumpsum payment to vested
employees at retirement, death, incapacitation
or termination of employment, of an amount
based on the respective employee''s salary and
the tenure of employment with the Company.
The company does not have any policy for
leave encashment/ carry forward of leaves.

Liabilities with regard to the Gratuity are
determined by actuarial valuation, performed
by an independent actuary, at each balance
sheet date using the projected unit credit
method.

The net interest cost is calculated by applying
the discount rate to the net balance of the
defined benefit obligation and fair value of
plan assets. This cost is included in employee
benefit expense in the statement of profit and
loss.

Re-measurement gain and loss arising from
experience adjustments and change actuarial
assumptions are recognised in the period in
which they occur, directly in other
comprehensive income. They are included in
retained earnings in the statement of change
in equity and in the balance sheet.

i. Cash and Cash Equivalents

Cash and cash equivalent in the balance sheet
comprise cash at banks and on hand and
current deposits with an original maturity of
three months or less, which are subject to an
insignificant risk of changes in value.

m. Financial Instruments

A financial instrument is any contract that
gives rise to a financial asset of one entity and
a financial liability or equity instrument of
another company.

(A) Financial Assets

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.

Subsequent Measurement

For purposes of subsequent measurement,
financial assets are classified in following
categories:

(i) Financial Assets carried at Amortised
Cost (AC)

A financial asset is measured at amortised
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.

(ii) 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. Interest income for
these financial assets is included in other
income using the effective interest rate
method.

(iii) Financial Assets at Fair Value through
Profit or Loss (FVTPL)

A financial asset/equity investment which
is in scope of Ind AS 109 and is not classified
in any of the above categories are measured
at FVTPL.

During the year under review the company
has invested in Listed equity shares, In which
case the company has identified the valuation
at the end of Quarter/year and respective
increase/ diminution in value have been dealt
in the financials of the company.

(B) Financial Liabilities

Initial Recognition and Measurement

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

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.

(C) Derecognition of Financial Instruments

The Company derecognizes a financial asset
when the contractual rights to the cash flows
from the financial asset expire or it transfers
the financial asset and the transfer qualifies for
derecognition under Ind AS 109. A financial
liability (or a part of a financial liability) is
derecognized from the Company''s Balance
Sheet when the obligation specified in the
contract is discharged or cancelled or expires.

(D) Reclassification of Financial Assets

The Company determines classification of
financial assets and liabilities on initial
recognition. After initial recognition, no
reclassification is made for financial assets
which are equity instruments and financial
liabilities. For financial assets which are debt
instruments, a reclassification is made only if
there is a change in the business model for
managing those assets. Changes to the
business model are expected to be infrequent.
The company''s senior management
determines change in the business model as
a result of external or internal changes which
are significant to the company''s operations.
Such changes are evident to external parties.
A change in the business model occurs when
the company either begins or ceases to
perform an activity that is significant to its
operations. If the company reclassifies
financial assets, it applies the reclassification
prospectively from the reclassification date
which is the first day of the immediately next
reporting period following the change in
business model. The company does not
restate any previously recognised gains,
losses (including impairment gains or losses)
or interest.

(E) Offsetting of Financial Instruments

Financial assets and financial liabilities are
offset and the net amount is reported in the
balance sheet if there is a currently enforceable
legal right to offset the recognised amounts and
there is an intention to settle on a net basis, to
realise the assets and settle the liabilities
simultaneously.

(n) Earnings per Share

Basic earnings per share is computed using the
weighted average number of equity shares
outstanding during the year. Diluted earnings
per share is computed using the weighted average

number of equity and equivalent dilutive
equity shares outstanding during the year,
except where the result would be anti-dilutive.

o. Use of Estimates

The preparation of financial statements in
conformity with Indian Accounting Standards
(Ind AS) requires management of the Company
to make judgments, estimates and assumptions
that affect the reported amount of revenues,
expenses, assets and liabilities (including
disclosure of contingent liabilities) at the end of
the reporting period.

The areas involving critical judgements are as
follows-

(i) Depreciation/Amortisation and useful

lives of Property, Plant and Equipment/
Intangible assets

Property, plant and equipment / intangible
assets are depreciated / amortised over their
estimated useful lives, after taking into account
estimated residual value. Management reviews
the estimated useful lives and residual values
of the assets annually in order to determine the
amount of depreciation / amortisation to be
recorded during any reporting period. The
useful lives and residual values are based on
the Company''s historical experience with
similar assets and take into account anticipated
technological changes. The depreciation /
amortisation for future periods is revised if
there are significant changes from previous
estimates.

(ii) Provisions

Provisions and liabilities are recognized in the
period when it becomes probable that there
will be a future outflow of funds resulting
from past operations or events and the
amount of cash outflow can be reliably
estimated. The timing of recognition and
quantification of the liability requires the
application of judgment to existing facts and

circumstances, which can be subject to change.
The carrying amounts of provisions and
liabilities are reviewed regularly and revised to
take account of changing facts and
circumstances.

(iii) Defined Benefit Obligations

The costs of providing gratuity and other
post-employment benefits are charged to the
Statement of Profit and Loss in accordance
with Ind AS 19 ''Employee benefits'' over the
period during which benefit is derived from
the employees'' services. The costs are assessed
on the basis of assumptions selected by the
management. These assumptions include
salary escalation rate, discount rates, expected
rate of return on assets and mortality rates.

The same is disclosed in Note 18.

(iv) Income Tax

The Company''s tax jurisdiction is India.
Significant judgements are involved in
estimating budgeted profits for the purpose of
paying advance tax, determining the
provision for income taxes, including amount
expected to be paid/ recovered for uncertain
tax positions.

Notes to Account

1. The party balances classified under sundry
debtors, sundry creditors, loans &
advances are subject to confirmation and
reconciliation with the respective parties.

2. The Company could not account/reconcile
entire amount of Tax deducted at source,
by its clients as the clients have yet to file
their quarterly TD5 return for March 2025
Qtr. In view of this the company has
accounted the TDS amount to the extent
amount appearing in Form 26AS and TDS
deducted by clients in case of bill wise
payment received.

3. Contingent liability may be incurred in
respect of pending direct & indirect taxes
& statutory dues the amount of which is
neither known nor presently
ascertainable. Further inone case the
company has filed anappeal with GST
department (Mumbai) and paid an
amount of Rs. 7.02 lacs.

4. In the opinion of the management the
value of Current Assets & Loans &
Advances is not less than the amounts
stated in books of accounts and are
considered good.

5. The Company was allotted a Pent
House at JAYPEE GREENS, NOIDA
vide provisional allotment letter
bearing No. 47698/390115/
KRH0213202 dated 09/11/2013 for a
total consideration of Rs.220.32 lacs.
Till the close of the current financial
year the company has paid a sum of
Rs.113.49 lacs. M/s Jaypee Infratech
Limited is in process of resolution of
insolvency but the company''s
management is confident of getting the
possession of the property in the
coming time. Therefore no provision
for diminution in the value of
advance given for the same is
considered. This amount is classified
under "Loan Under Financial Liability
(Non Current)."

6. Further an amount of Rs. 25 lacs had
been seized by the investigation wing
of IT Department during the FY 2018¬
19 and the company has shown the
same under "Other Current Assets."
The company is replying to the query
raised on this matter.

7. Provision for Current income tax has
been made as per the provisions of
Income tax Act 1961 which is subject
to assessment.

8. As certified by the directors of the
Company no legal case against the
company was pending as on Balance
sheet date. However the company has
filed two suits for recovery of some
advance paid to parties (Amount Rs. 3.20
Crores).

9. The company has taken prior approval
from the shareholders for paying
Remuneration to Managing Director and
Executive director in accordance with
Schedule-V of The Companies Act.

10. The Company has communicated with
its Sundry Creditors to enquire whether
they are registered under Micro, Small
and Medium Enterprises Development
Act, 2006 or not. The company has
recognized and considered that these
creditors are not covered within the
Provisions of Micro, Small and Medium
Enterprises Development Act, 2006 . As
pier the data and information provided
by the management all the creditors at the
end of the year are identified under Micro,
Small and Medium Enterprises
Development Act, 2006.

11. Subsidiaries ; The company has two
subsidiaries, namely, out of which one is
wholly owned and had made investment
in previous financial year;

a) MakeMeUp Private Limited (subsidiary)

b) WedAdvisor Solutions Private Limited
(wholly owned subsidiary)

During the year under review,
MakeMeUp Pvt Ltd, has started
commercial operations in FY 2022-23
however WedAdvisor Solutions Pvt Ltd.,
shall start the same from the next finandal
year. The company on the date of Balance
sheet have diluted all investment capital,
made by the Touchwood Entertainment
Ltd., into equity share capital.

12. Segment Reporting : As per Ind-AS 108,
the company has multiple business
segment i.e. "event management " "
Construction services" and "trading
activities" and all the revenue comes from
them have been identified and provided in
the financials of the company. During the
year under review the company has carried
it''s one subsidiary and one wholly owned
subsidiary companies namely MakeMeUp
Private Limited and WedAdvisor Solutions
Private Limited respectively and they have
/ shall carry on different segments of
business revenue from the this/next
financial years. There is no specific
geographical reporting segment as the
company is doing business across India.

13. Previous year figures have been regrouped
or reclassified wherever found necessary to
make them comparable with the figures of
the current year.

17. Disclosures as per Ind AS 19 "Employee
Benefits" relating to Actuarial Valuation
of Gratuity

The Company has a defined benefit gratuity
plan in India, governed by the Payment of
Gratuity Act, 1972. The plan entitles an
employee, who has rendered at least five
years of continuous service, to gratuity at the
rate of fifteen days wages for every
completed year of service or part thereof in
excess of six months, based on the rate of
wages last drawn by the employee concerned.

Membership Information

Membership data of the Plan as at 31-Mar 2025
(Census Date) was provided by the Sponsor. A
summary of membership data provided is
given below:

For and on Behalf of the Board of Directors
For VSD & Associates Touchwood Entertainments Limited

Chartered Accountants

(Firm Registration No. 008726N)

Sd/- Sd/- Sd/-

(Sanjay Sharma) Manjit Singh Vijay Arora

; (Managing Director) (WholeTimeDirector)

Membership No. 087382 DIN:00996 149 DIN:00996193

Sd/ Sd/

Place : New Delhi Dinesh Singla Ritika Vats

Dated : 20^th May 2025 Lcial Officer Company Secretary

& Compliance Officer
PAN: BLVP S6089N PAN: CBKPV2742K

---

Mar 31, 2024

j. Provisions, Contingent Liabilities and Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, 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.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

A contingent liability exists when there is a possible but not probable obligation, or a present obligation that may, but probably will not, require and outflow of resources, or a present obligation whose amount cannot be estimated reliably. Contingent liabilities do not warrant provisions, but are disclosed unless the possibility of outflow of resources is remote. Contingent assets are neither recognised nor disclosed in the financial statements. However, contingent assets are assessed continuously and if it is virtually certain that an inflow of economic benefits will arise, the asset and related income are recognised in the period in which the change occurs.

A contingent asset is not recognised but disclosed, when 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 Company.

k. Employee Benefits

(i) Short-Term Obligations

Short-term obligations liabilities for wages and salaries, including nonmonetary benefits that are expected to be settled wholly within twelve months after the end of the period in which the employees render the related service are recognised in respect of employees'' services up to the end of the reporting period and are measured at the undiscounted amounts expected to be paid when the liabilities are settled. The liabilities are presented as current benefit obligations in the balance sheet.

(ii) Retirement and Other Employee Benefits

The Company provides for Gratuity covering eligible employees of company. The Gratuity provides a lumpsum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee''s salary and the tenure of employment with the Company.

Liabilities with regard to the Gratuity are determined by actuarial valuation, performed by an independent actuary, at each balance sheet date using the projected unit credit method.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and fair value of plan assets. This cost is included in employee benefit expense in the statement of profit and loss.

Re-measurement gain and loss arising from experience adjustments and change actuarial assumptions are recognised in the period in which they occur, directly in other comprehensive income. They are included in retained earnings in the statement of change in equity and in the balance sheet.

l. Cash and Cash Equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and current deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

m. Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another company.

(A) Financial Assets

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.

Subsequent Measurement

For purposes of subsequent measurement,

financial assets are classified in following

categories:

(i) Financial Assets carried at Amortised Cost (AC)

A financial asset is measured at amortised 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.

(ii) 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. Interest income for these financial assets is included in other income using the effective interest rate method.

(iii) Financial Assets at Fair Value through Profit or Loss (FVTPL)

A financial asset/ equity investment which is in scope of Ind AS 109 and is not classified in any of the above categories are measured at FVTPL.

(B) Financial Liabilities

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

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.

(C) Derecognition of Financial Instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109. A financial liability (or a part of a financial liability) is derecognized from the Company''s Balance Sheet when the obligation specified in the contract is discharged or cancelled or expires.

(D) Reclassification of Financial Assets

The Company determines classification of financial assets and liabilities on initial recognition. After initial recognition, no reclassification is made for financial assets which are equity instruments and financial liabilities. For financial assets which are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets. Changes to the business model are expected to be infrequent. The company''s senior management determines change in the business model as a result of external or internal changes which are significant to the company''s operations. Such changes are evident to external parties. A change in the business model occurs when the company either begins or ceases to perform an activity that is significant to its operations. If the company reclassifies financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the immediately next reporting period following the change in business model. The company does not restate any previously recognized gains, losses (including impairment gains or losses) or interest.

(E) Offsetting of Financial Instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet

if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

n. Earnings per Share

Basic earnings per share is computed using the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of equity and equivalent dilutive equity shares outstanding during the year, except where the result would be anti-dilutive.

o. Use of Estimates

The preparation of financial statements in conformity with Indian Accounting Standards (Ind AS) requires management of the Company to make judgments, estimates and assumptions that affect the reported amount of revenues, expenses, assets and liabilities (including disclosure of contingent liabilities) at the end of the reporting period.

The areas involving critical judgements are as follows-

(i) Depreciation/Amortisation and useful lives of Property, Plant and Equipmenf/Intangible assets

Property, plant and equipment / intangible assets are depreciated / amortised over their estimated useful lives, after taking into account estimated residual value. Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount of depreciation / amortisation to be recorded during any reporting period. The useful lives and residual values are based on the Company''s historical experience with similar assets and take into account anticipated technological changes. The depreciation / amortisation for future periods is revised if there are significant changes from previous estimates.

(ii) Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting from past

operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and quantification of the liability requires the application of judgment to existing facts and circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of changing facts and circumstances.

(iii) Defined Benefit Obligations

The costs of providing gratuity and other postemployment benefits are charged to the Statement of Profit and Loss in accordance with Ind AS 19 ''Employee benefits'' over the period during which benefit is derived from the employees'' services. The costs are assessed on the basis of assumptions selected by the management. These assumptions include salary escalation rate, discount rates, expected rate of return on assets and mortality rates. The same is disclosed in Note 18.

(iv) Income Tax

The Company''s tax jurisdiction is India. Significant judgements are involved in estimating budgeted profits for the purpose of paying advance tax, determining the provision for income taxes, including amount expected to be paid/ recovered for uncertain tax positions.

Notes to Account

1. The party balances classified under sundry debtors, sundry creditors, loans & advances are subject to confirmation and reconciliation with the respective parties.

2. The Company could not account/reconcile entire amount of Tax deducted at source, by its clients as the clients have yet to file their quarterly TDS return for March 2024 Qtr. In view of this the company has accounted the TDS amount to the extent amount appearing in Form 26AS and TDS deducted by clients in case of bill wise payment received.

3. Contingent liability may be incurred in respect of pending direct & indirect taxes & statutory dues the amount of which is neither known nor presently ascertainable.

4. In the opinion of the management the value of Current Assets & Loans & Advances is not less than the amounts stated in books of accounts and are considered good.

5. The Company was allotted a Pent House at JAYPEE GREENS, NOIDA vide provisional allotment letter bearing No. 47698/390115/KRH0213202 dated 09/11/2013 for a total consideration of Rs.220.32 lacs. Till the close of the current financial year the company has paid a sum of Rs.113.49 lacs. M/s Jaypee Infratech Limited is in process of resolution of insolvency but the company''s management is confident of getting the possession of the property in the coming time. Therefore no provision for diminution in the value of advance given for the same is considered. This amount is classified under "Loan Under Financial Liability (Non Current)."

6. Further an amount of Rs. 25 lacs had been seized by the investigation wing of IT Department during the FY 2018-19 and the company has shown the same under "Other Current Assets."

7. The company is replying to the query raised on this matter.

8. Provision for Current income tax has been made as per the provisions of Income tax Act 1961 which is subject to assessment.

9. As certified by the directors of the Company no legal case against the company was pending as on Balance sheet date.

10. The company has taken prior approval from the shareholders for paying Remuneration to Managing Director and Executive director in accordance with Schedule-V of The Companies Act.

11. The Company has communicated with its Sundry Creditors to enquire whether they are registered under Micro, Small and Medium Enterprises Development Act, 2006 or not. The company has recognized and considered that these creditors are not covered within the Provisions of Micro, Small and Medium Enterprises Development Act, 2006 . As per the data and information provided by the management all the creditors at the end of the year are identified for which no dues are payable under Micro, Small and Medium Enterprises Development Act, 2006.

12. Subsidiaries ; The company has two subsidiaries , namely , out of which one is wholly owned and had made investment in previous financial year;

a) MakeMeUp Private Limited (subsidiary)

b) WedAdvisor Solutions Private Limited (wholly owned subsidiary)

During the year under review , MakeMeUp Pvt Ltd, has started commercial operations in FY 202223 however WedAdvisor Solutions Pvt Ltd., shall start the same from the next financial year . The company on the date of Balance sheet have diluted all investment capital , made by the Touchwood Entertainment Ltd., into equity share capital.

13. Segment Reporting : As per Ind-AS 108 ,the company has only one business segment "event management " and all the revenue comes from it. During the year under review the company has carried it''s one subsidiary and one wholly owned subsidiary companies namely MakeMeUp Private Limited and WedAdvisor Solutions Private Limited respectively and they have/ shall carry on different segments of business revenue from the this/next financial years. During the current financial year all the assets relate to "Event management" segment only however an amount of Rs. 252.00 lacs and Rs. Nil (Previous Year Rs. 2 lacs and Rs. 152.12 lacs respectively) are shown as Investment and Other Current Assets respectively, in the financials of the company. There is no specific geographical reporting segment as the company is doing business across India.

18. Disclosures as per Ind AS 19 "Employee Benefits" relating to Actuarial Valuation of Gratuity

The Company has a defined benefit gratuity plan in India, governed by the Payment of Gratuity Act, 1972. The plan entitles an employee, who has rendered at least five years of continuous service, to gratuity at the rate of fifteen days wages for every completed year of service or part thereof in excess of six months, based on the rate of wages last drawn by the employee concerned.

As per our report of even date attached to the Financial Statements

For and on Behalf of the Board of Directors For VSD & Associates Touchwood Entertainments Limited

Chartered Accountants (Firm Registration No. 008726N)

sSt^“ ^St^^_

(Sanjay Sharma) Manjit Singh Vijay Arora

F.C.A., Partner (Managing Director) (Whole-Time Director)

Membership No. 087382 DIN:00996149 DIN: 00996193

Sd/- Sd/-

Place: New Delhi Dinesh Singla Ashima Arora

Dated: 21^st May 2024 Chief Financial Officer Company Secretary

& Compliance Officer PAN: BLVPS6089N PAN: BQXPA7483Q

---

Mar 31, 2023

21: Contingent liabilities and commitments ( to the extent not provided for) (i) Contingent Liabilities
(a) Claims against the company not acknowledged as debts	-	-
(b) Guarantees	-	-
(c) Other money for which the company is contingently liable	-	-
(ii) Commitments
(a) Estimated amount of contracts remaining to be	106.84	106.84
executed on capital account and not provided for
(b) Uncalled liability on shares and other Investments partly paid	-	-
(c) Other Commitments	-	-
Total	106.84	106.84
22 Revenue From Operation	31.03.2023	31.03.2022
(a) Sale of services Event management services
- Inland	3,605.73	2,662.36
Total	3,605.73	2,662.36
23 Other Income
(a) Interest received	12.59	010
(b) Balances Written off	-	9.37
(c) Profit on sale of FA	-	616
(d) Misc Income	0.03	0.01
Total	12.61	15.74
24 Employee Benefits Expenses
(a) Salaries & Bonus	96.62	82.13
(b) Director''s Remuneration	160.00	106.40
(c) Contribution to Provident Fund	0.51	0.51
(d) Current Service Cost	4.75	6.82
(e) Interest Cost	5.92	5.89
Total	267.80	201.75
25 Finance Costs
(a) Interest & bank expenses	4.40	5.65
(b) Interest on taxes	1.14	6.54
Total	5.54	12.20
26 Depreciation and Amortization
(a) Depreciation on Property Plant & Equipment	50.60	56.95
(b) Amortization of Intangible Assets	0.27	0.60
Total	50.87	57.55

a) Current Ratio : Current assets/Current Liabilities

Current assets = Cash and cash equivalent Trade Receivable Other Current Assets Current Liabilities = Trade payable Short term Borrowing Other Financial Liabilities Other Current Liab. Provision

* Note : The company had shown better results since in FY 2020-21 due to covid the business of the company suffered hugely and the business of the company impacted hugely.

b) Debt /Equity Ratio : Debts/ Equity

Total Debt = Long Term Debt Short Term Debt Total Equity = Total Shareholder''s Equity

c) Debt Service coverage Ratio : Earnings available for debt service / Debt Service

Earnings available for debt service = Earnings before interest and taxes & Depreciation Debt payment = Interest expenses Principal repayment

*Note : The increase in debt in FY 2021-22 has resulted in effecting the changes in DSCR

d) Return of /Equity Ratio : Net Incomg/Average Shareholders Equity

Equity means Equity at the start of year

profit after taxes - Preference Dividend (if any) / Average Shareholder''s Equity

e) Inventory Turnover Ratio : Sales / Inventory

Inventory = (Opening Closing ) /2

f) Trade Receivable Turnover Ratio : Sales / Average Accounts Receivable

Sales Turnover ratio - Net Credit Sales / Average Accounts Receivable

Sales consist of gross credit sales minus sales return. Trade receivables includes sundry debtors Average Accounts Receivable = (Opening Closing)/2

* Note : The company had shown better results since in FY 2020-21 due to covid the business of the company suffered hugely and the business of the company impacted hugely.

g) Trade Payable Turnover Ratio :

Trade payables turnover ratio = Net Credit Purchases / Average Trade Payables

Net credit purchases consist of gross credit purchases minus purchase return

the ratio is calculated by dividing total purchases by the closing bal. of trade creditors.

h) Net capital Turnover Ratio : Net Sales/ Average Working Capital

Net Sales shall be calculated as total sales minus sales returns

Working capital shall be calculated as current assets minus current liabilities.

* Note : The company had shown better results since in FY 2020-21 due to covid the business of the company suffered hugely and the business of the company impacted hugely.

i) Net Profit Ratio : Net Profit / Sales Net profit shall be after tax

Net sales shall be calculated as total sales minus sales returns

j) Return on capital employed (ROCE)

ROCE = Earning before interest and taxes / Capital Employed

Capital Employed : Tangible Net worth Total Debt Deferred tax libility

k) Return on Investment (ROI)

ROI = Earning before interest and taxes / Total assets- current liabilities

---

Mar 31, 2021

Provisions, Contingent Liabilities and Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, 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.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

A contingent liability exists when there is a possible but not probable obligation, or a present obligation that may, but probably will not, require and outflow of resources, or a present obligation whose amount cannot be estimated reliably. Contingent liabilities do not warrant provisions, but are disclosed unless the possibility of outflow of resources is remote. Contingent assets are neither recognised nor disclosed in the financial statements. Flowever, contingent assets are assessed continuously and if it is virtually certain that an inflow of economic benefits will arise, the asset and related income are recognised in the period in which the change occurs.

A contingent asset is not recognised but disclosed, when 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 Company.

k. Employee Benefits

i. Short-Term Obligations

Short-term obligations liabilities for wages and salaries, including nonmonetary benefits that are expected to be settled wholly within twelve months after the end of the period in which the employees render the related service are recognised in respect of employees'' services up to the end of the reporting period and are measured at the undiscounted amounts expected to be paid when the liabilities are settled. The liabilities are presented as current benefit obligations in the balance sheet.

h. Retirement and Other Employee Benefits

The Company provides for Gratuity covering eligible employees of company. The Gratuity provides a lumpsum payment to vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee’s salary and the tenure of employment with the Company.

Liabilities with regard to the Gratuity are determined by actuarial valuation, performed by an independent actuary, at each balance sheet date using the projected unit credit method.

The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and fair value of plan assets. This cost is included in employee benefit expense in the statement of profit and loss.

Re-measurement gains and loss arising from experience adjustments and change actuarial assumptions are recognised in the period in which they occur, directly in other comprehensive income. They are included in retained earnings in the statement of change in equity and in the balance sheet

l Cash and Cash Equivalents

Cash and cash equivalent in the balance sheet comprise cash at banks and on hand and current deposits with an original maturity of three months or less, which are subject to an insignificant risk of changes in value.

m. Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another company.

(A) Financial Assets

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.

Subsequent Measurement

For purposes of subsequent measurement, financial assets are classified in following categories:

(0 Financial Assets carried at Amortised Cost (AC)

A financial asset is measured at amortised 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.

(») 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. Interest income for these financial assets is included in other income using the effective interest rate method.

(Hi) Financial Assets at Fair Value through Profit or Loss (FVTPL)

A financial asset/equity investment which is in scope of Ind AS 109 and is not classified in any of the above categories are measured at FVTPL.

(B) Financial Liabilities

Initial Recognition and Measurement

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

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.

(C) Derecognition of Financial Instruments

The Company derecognizes a financial asset when the contractual rights to the cash flows from the financial asset expire or it transfers the financial asset and the transfer qualifies for derecognition under Ind AS 109. A financial liability (or a part of a financial liability) is derecognized from the Company''s Balance Sheet when the obligation specified in the contract is discharged or cancelled or expires.

(D) Reclassification of Financial Assets

The Company determines classification of financial assets and liabilities on initial recognition. After initial recognition, no reclassification is made for financial assets which are equity instruments and financial liabilities. For financial assets which are debt instruments, a reclassification is made only if there is a change in the business model for managing those assets. Changes to the business model are expected to be infrequent. The company''s senior management determines change in the business model as a result of external or internal changes which are significant to the company''s operations. Such changes are evident to external parties. A change in the business model occurs when the company either begins or ceases to perform an activity that is significant to its operations. If the company reclassifies financial assets, it applies the reclassification prospectively from the reclassification date which is the first day of the immediately next reporting period following the change in business model. The company does not restate any previously recognised gains, losses (including impairment gains or losses) or interest.

(E) Offsetting of Financial Instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities simultaneously.

n. Earnings per Share

Basic earnings per share is computed using the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed using the weighted average number of equity and equivalent dilutive equity shares outstanding during the year, except where the result would be anti-dilutive.

o. Use of Estimates

The preparation of financial statements in conformity with Indian Accounting Standards (Ind AS) requires management of the Company to make judgments, estimates and assumptions that affect the reported amount of revenues, expenses, assets and liabilities (including disclosure of contingent liabilities) at the end of the reporting period.

The areas involving critical judgements are as follows-

(0 Depreciation/Amortisation and useful lives of Property, Plant and Equipment/lntangible assets

Property, plant and equipment / intangible assets are depreciated / amortised over their estimated useful lives, after taking into account estimated residual value. Management reviews the estimated useful lives and residual values of the assets annually in order to determine the amount of depreciation / amortisation to be recorded during any reporting period. The useful lives and residual values are based on the Company''s historical experience with similar assets and take into account anticipated technological changes. The depreciation / amortisation for future periods is revised if there are significant changes from previous estimates.

(ii) Provisions

Provisions and liabilities are recognized in the period when it becomes probable that there will be a future outflow of funds resulting from past operations or events and the amount of cash outflow can be reliably estimated. The timing of recognition and quantification of the liability requires the application of judgment to existing facts and circumstances, which can be subject to change. The carrying amounts of provisions and liabilities are reviewed regularly and revised to take account of changing facts and circumstances.

(in) Defined Benefit Obligations

The costs of providing gratuity and other post-employment benefits are charged to the Statement of Profit and Loss in accordance with Ind AS 19 ''Employee benefits'' over the period during which benefit is derived from the employees'' services.

The costs are assessed on the basis of assumptions selected by the management. These assumptions include salary escalation rate, discount rates, expected rate of return on assets and mortality rates. The same is disclosed in Note 28.

pv) Income Tax

The Company''s tax jurisdiction is India. Significant judgements are involved in estimating budgeted profits for the purpose of paying advance tax, determining the provision for income taxes, including amount expected to be paid/ recovered for uncertain tax positions.

Notes to Account

1. The party balances classified under sundry debtors, sundry creditors, loans & advances are subject to confirmation and reconciliation.

2. The Company could not account for entire amount of Tax deducted at source, by its clients as the clients have yet to file their quarterly TDS return for March 2021 Qtr. In view of this the company has accounted the TDS amount to the extent amount appearing in Form 26AS and TDS deducted by clients in case of bills wise payment received.

3. Contingent liability may be incurred in respect of pending direct & indirect taxes & statutory dues the amount of which is neither know nor presently ascertainable.

4. In the opinion of the management the value of Current Assets & Loans & Advances is not less than the amounts stated in books of accounts and are considered good.

5. The Company was allotted a Pent House at JAYPEE GREENS, NOIDA vide provisional allotment letter bearing No. 47698/390115/KRH0213202 dated 09/11/2013 for a total consideration of Rs.2,20,32,480/-. Till the close of the current financial year the company has paid a sum of Rs. 1,13,48,880/. M/s Jaypee Infratech Limited is in process of resolution of insolvency but the company''s management is confident of getting the possession of the property in the coming time. Therefore no provision for diminution in the value of advance given for the same is considered. This amount is classified under “Loan Under Financial Liability (Non Current).”

6. The assessing officer has raised and uploaded demand of Income Tax in respect of Assessment Year 2008-09. Till the close of the current financial year CPC has adjusted an amount of Rs.29,18,045/- out of which an amount of Rs.23,05,109/- has been received in November 2017. The management is hopeful that the balance amount will be refunded by the income tax department in due course and the amount is classified under Other Current Assets.

7. Provision for Current income tax has been made as per the provisions of Income tax Act 1961 which is subject to assessment.

8. As certified by the directors of the Company no legal case against the company was pending as on Balance sheet date.

9. The Company has communicated with its Sundry Creditors to enquire whether they are registered under Micro, Small and Medium Enterprises Development Act, 2006 or not, but the company has not received any reply from the creditors and considered that these creditors are not covered within the Provisions of Micro, Small and Medium Enterprises Development Act, 2006 and hence all the creditors are taken as not registered under Micro, Small and Medium Enterprises Development Act, 2006.

---

Mar 31, 2018

A NOTES TO THE ACCOUNTS

a) Personal accounts of all parties included under sundry debtors, sundry creditors, loans & advancers are subject to confirmation and reconciliation & Bank accounts are subject to reconciliation. In case of sundry debtors the company could not account for TDS recoverable, since the same are not know as the debtors have not yet filed TDS returns for Qtr-IV till the date of audit.

b) Contingent liability may be incurred in respect of pending direct & indirect taxes & statutory dues the amount of which is neither know nor presently ascertainable.

c) (I) In the opinion of the management the value of Current Assets & Loans & Advances is not less than the amounts stated in books of accounts and are considered good.

(ii) The company has availed Input tax credit on purchase of Eicher Trucks of Rs.19,21,906/_sin_ce th_e t_ruck_{s were use}d for main taxable output services of Event management of the company . However the same may be subject to the litigation under the provision of GST Act 2017.

d) HDFC Bank has sanctioned an Overdraft Limit of Rs.1.26 Crores to the Company under its DOD (Dropdown Overdraft) facility. The same is secured by way of Collateral Security of 2 Immovable Properties viz. Flat No. 704, 7^th Floor, Tower -12, Paras Tierea, Noida Express Way, Sector 137 Noida, Uttar Pradesh and Flat No. 1184, (Third Floor Servant Garage) Pocket 1, Sector B, Vasant Kunj, New Delhi 110070 both jointly owned by Mr. Manjit Singh and Mrs. Jaswinder Kaur, Mg. Director and Executive Director, respectively of the company.

e) The Company had applied and was allotted a Pent House at JAYPEE GREENS, NOIDA vide provisional allotment letter bearing No. 47698/390115/KRH0213202 dated 09/11/2013 for a total consideration of Rs.2,20,32,480/-. Till the close of the current financial year the company has paid a sum of Rs.1,13,48,880/. M/s Jaypee Infratech Limited is in process of resolution of insolvency but the company’s management is confident of getting the possession of the pro perty in the coming time. Therefore no provision for diminution in the value of advance given for the same is considered. The same has been classified under “Long Term Loans & Advances.”

f) Income Tax Authorities (CPC) had adjusted an amount of Rs. 29,18,045/- against tax liability of the Assessment Year 200809 out of refund due to the company in previous years out of which an amount of Rs.23,05,109/- has been received in November 2017. The management is hopeful that the balance amount will be refunded by the income at department in due course and has been classified under Long Term Loans & Advances.

g) Disclosure requirement as per Accounting Standard-15

h) Provision for Current income tax has been made as per the provisions of Income tax Act 1961 which is subject to assessment.

i) As certified by the directors of the Comply no legal case against the company was pending at the close of the year.

j) The Company has not identified its Sundry Creditors between Micro, Small and Medium in terms of the Provisions of Micro, Small and Medium Enterprises Development Act, 2006 and hence the information required under the said act could not be given.

k) The company has paid sitting fee to its directors except Managing Director and Whole Time Director @2000/ - per meeting for Board & Committee meetings held during the year.

l) Previous year figures have been regrouped or reclassified wherever found necessary to make them comparable with the figures of the current year

m) Note No. 01 to 25 form an integral part of Balance Sheet & Profit & Loss Statement of the company.

HDFC Bank Auto Premium Loan No. 1 of Rs.38 Lacs is secured against BMW car and is repayable in 60 EMI of Rs.80188/-commenced from October 2015

HDFC Bank Auto Premium Loan No. 2 of Rs.30 Lacs is secured against Audi car and is repayable in 60 EMI of Rs.64110/-commenced from May 2014

HDFC Bank Super Bike Loan No. 1 of Rs.4 .56 Lacs is secured against Harley Devidson Bike and is repayable in 36 EMI of Rs.15037/- commenced from October 2016.

HDFC Bank Auto Loan No. 3 of Rs.12 Lacs is secured against XUV car and is repayable in 36 EMI of Rs.37882/-commenced from August 2017

HDFC Bank Light Commercial Vehicle Loan No. 1 of Rs.1019340/- is secured against Eicher Truck and is repayable in 35 EMI of Rs.32967/- commenced from December 2017.

HDFC Bank Light Commercial Vehicle Loan No. 2 of Rs.1098748/- is secured against Eicher Truck and is repayable in 35 EMI of Rs.35,555/- commenced from October 2017.

HDFC Bank Light Commercial Vehicle Loan No. 3 of Rs.1019340/- is secured against Eicher Truck and is repayable in 35 EMI of Rs.32967/- commenced from December 2017.

HDFC Bank Light Commercial Vehicle Loan No. 4 of Rs.1019340/- is secured against Eicher Truck and is repayable in 35 EMI of Rs.32967/- commenced from December 2017.