Notes to Accounts of Workmates Core2Cloud Solution Ltd.

Provisions, Contingent Liabilities and Contingent
Assets

Provisions are recognized when there is a present
obligation 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 there is a reliable
estimate of the amount of the obligation can be made.
Provisions (excluding retirement benefits) are measured
at the best estimate of the expenditure required to settle
the present obligation at the Balance Sheet date and are
not discounted to its present value. These are reviewed
at each Balance Sheet date and adjusted to reflect the
current best estimates.

Contingent Liabilities are disclosed when there is a possible
obligation arising from past events, the existence of which

will be confirmed only by the occurrence/non-occurrence
of one/more uncertain future events not wholly within the
control of the company or a present obligation that arises
from past events where it is either not probable that an
outflow of resources will be required to settle or a reliable
estimate of the amount cannot be made.

A Contingent Asset is neither recognised nor disclosed
in the Standalone financial statements.

Cash Flow Statement

Cash flows are reported using the indirect method as set
out in Accounting Standard 3 on Cash Flow Statement,
whereby profit before tax is adjusted for the effects of
transactions of a non-cash nature, any deferrals or accruals
of past or future operating cash receipts or payments and
item of income or expenses associated with investing or
financing cash flows. The cash flows are segregated into
operating, investing and financing activities.

Taxation

Current Tax is determined as the amount of tax payable in
respect of taxable income for the year based on applicable
tax rates and laws.

Deferred tax is recognised on timing differences, being
the differences between the taxable income and the
accounting income that originate in one year and are
capable of reversal in one or more subsequent years.
Deferred tax is measured using the tax rates and the tax
laws enacted or substantially enacted as at the reporting
date. Deferred tax liabilities are recognised for all timing
differences. Deferred tax assets are recognised only
if there is virtual certainty that there will be sufficient
future taxable income against which these can be set off.
Deferred tax assets and liabilities are offset if such items
relate to taxes on income levied by the same governing
tax laws and the Company has a legally enforceable right
for such set off. Deferred tax assets are reviewed at each
Balance Sheet date for their realisability.

Cash and Cash Equivalents

Cash and Cash Equivalents consist of cash on hand,
cash at banks, fixed deposits and short-term highly
liquid investments with an original maturity of twelve
months or less.

In the Cash Flow Statement, cash and cash equivalents
includes cash in hand, demand deposits with banks, other
short term highly liquid investments with original maturities
of three months or less.

Earnings per share

Basic earnings per share is calculated by dividing the
net profit or loss for the year attributable to equity
shareholders by the weighted average number of equity
shares outstanding during the year. Earnings considered
in ascertaining the Company''s earnings per share is the
net profit for the year. The weighted average number of
equity shares outstanding during the year and for all the
years is adjusted for events, such as bonus shares, other
than the conversion of potential equity shares, that have
changed the number of equity shares outstanding, without
a corresponding change in resources. For the purpose
of calculating diluted earnings per share, the net profit
or loss for the year attributable to equity shareholders
and the weighted average number of shares outstanding
during the year are adjusted for the effects of all dilutive
potential equity shares.

Segment Reporting

Busieness Segment

The company''s primary business segment is disclosed
based on the principal business activity and services
rendered, the organisational structure, the set of risks
and returns and internal financial reporting system.

Geographical Segment

The company''s geographical segment is disclosed
based on providing products or rendering services of its
business activities in a particular geographical area where
it operates independently in terms of local regulations
and customer base.

(b) Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of H10/- per share.

Each holder of equity shares is entitled to one vote per share.

In case of declaration of Dividend, each shareholder is entitled to dividend in proportion to paid up share capital.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive all amounts. The distribution
will be in proportion to the number of equity shares held by the shareholders.

(c) Bonus Issue

During the year, the Company has issued 1,00,00,000 fully paid-up bonus equity shares of H 10/- each in the ratio of 1000:1,
by capitalisation of free reserves aggregating to H 1,000.00 Lakhs.

(d) Initial Public Offering (IPO)

During the year, the Company completed its Initial Public Offering (IPO) comprising a fresh issue of 29,08,800 equity shares
of H 10/- each at an issue price of H 204/- per share (including securities premium of H 194/- per share) and an Offer for Sale
(OFS) of 5,14,800 equity shares by those shareholders who are entitled to and willing to sell. Pursuant to the fresh issue,
29,08,800 equity shares were allotted by the Company and the paid-up equity share capital increased by H 290.88 Lakhs.

The proceeds from the Offer for Sale were received by those shareholders who are entitled to and willing to sell and the
Company did not receive any proceeds from such Offer for Sale. The equity shares issued pursuant to the IPO rank pari
passu in all respects with the existing equity shares of the Company.

Security & Repayment Schedule

Note 1: A Non-Residential Property Loan of H750 lakhs was availed from ICICI Bank, secured against mortgage of the property
acquired at 4th Floor, Raikva, Premises No. 3A, Rammohan Mullick Garden Lane, Kolkata-700 010. This loan taken by the
Compnay has been squared off during the year. The loan was also secured by the personal guarantee of three directors of
the company and the personal gurantee of the directors have been withdrawn during the year.

Note 2: Top up on a Non-Residential Property Loan of H140 lakhs was availed from ICICI Bank, secured against mortgage of
the property situated at 4th Floor, Raikva, Premises No. 3A, Rammohan Mullick Garden Lane, Kolkata-700 010. This loan has
been squared off during the year. The loan was also secured by the personal guarantee of three directors of the company and
the personal gurantee of the directors have been withdrawn during the year.

24 Other Notes

1 The Company is engaged in the business of providing consultancy and services, development and reselling
in the field of cloud, cloud management and cloud related solution, information technology, content creation, web
photogrammetric, imaging and display software development.

2 In the opinion of the Board of Directors of the Company, the realizable value of the assets, except Property, Plant and
Equipment, in the ordinary course of business is not less than that stated in the Balance Sheet.

3 There was no impairment of Property, Plant and Equipment on the basis of evaluation on physical verification done
by the management during the year.

4 The assets of the Company are free from encumbrances except as stated in the Standalone Financial Statements.

5 Internal Control System has been designed and implemented to prevent and detect fraud or error, proper custody,
use of assets and preparation of financial information. No fraud or suspected fraud on or by the Company has been
noticed or reported during the period involving management or employees who have significant roles in internal control
which could have a material effect on the financial information.

6 Account Balances, Trade Receivables, Advances, Deposits and other Current Assets have been taken in the Standalone
financial statements on the basis of books and records of the Company, as reviewed by the Board about their realizability
and obligations, in cases where confirmation of account balances, to determine the carrying value required, have not
been received.

7 All liabilities and major contingent liabilities have been duly considered in the Standalone Financial Statements.

8 The Company has no litigation or legal/disputed matters relating to claims or possible claims, if any, or demand against
which there could be any future impact on its financial position.

9 The Company did not have to make any provision under the applicable laws or accounting standards for
material foreseeable losses on long term contracts including derivative contracts.

10 There were no amounts which were required to be transferred to the Investor Education and Protection Fund
by the Company.

11 Deferred Tax Liability/Asset has been recognised in accordance with Accounting Standard 22.

15 Additional Regulatory Information as per Schedule III of the Act:

(i) Title Deeds of Immoveable Property not held in the name of the Company

Title deeds of immoveable properties in possession of the Company are held in its name.

(ii) Revaluation of Property, Plant and Equipment

The clause is not applicable since the Company has not made any revaluation of its property, plant & equipment
during the year.

(iii) Loans or Advances to Promoters, Directors, KMPs and the related parties

The Company has granted Loans or Advances in the nature of loans to promoters, directors, and the related
parties (as defined under the Act) either severally or jointly with any other person which are as follows:

(vi) Details of Benami Property held

The clause on Benami Property are not applicable since the Company has no such property.

(vii) Borrowings from banks or financial institutions on the basis of security of current assets

The clause is not applicable since the Company has no such borrowings.

(viii) Willful Defaulter

The Company has not been declared willful defaulter.

(ix) Relationship with Struck off Companies

The Company has no relationship and does not have any transaction with any Company struck off under
section 248 of the Act or section 560 of the Companies Act, 1956.

(x) Registration of charges or satisfaction with Registrar of Companies

There are no cases where charges or satisfaction are yet to be registered with Registrar of Companies beyond
the statutory period.

(xi) Compliance with number of layers of companies

The Company has no cases where number of layers, prescribed under clause (87) of section 2 of the Act read
with Companies (Restriction on number of Layers) Rules 2017, are involved.

(xiii) Compliance with approved schemes of Arrangements

This clause is not applicable since there was no scheme of Arrangement requiring approval by the Competent
Authority in terms of sections 230 to 237 of the Act.

(xiv) Utilization of borrowed funds and share premium

(A) The Company has not advanced or loaned or invested funds (either from borrowed funds or share premium
or any other sources or kind of funds) to any other person(s) or entity(ies), including foreign entities
(Intermediaries), with the understanding that the Intermediary shall:

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Company (Ultimate Beneficiaries); or

(ii) provide any guarantee, security, or the like to or on behalf of the Ultimate Beneficiaries.

Accordingly, this disclosure requirement under Rule 11(e)(i) of the Companies (Audit and Auditors)
Rules, 2014 is not applicable to the Company.

(B) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding
Party), with the understanding (whether recorded in writing or otherwise) that the Company shall:

(i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by
or on behalf of the Funding Party (Ultimate Beneficiaries); or

(ii) provide any guarantee, security, or the like on behalf of the Ultimate Beneficiaries.

Accordingly, this disclosure requirement under Rule 11(e)(ii) of the Companies (Audit and Auditors) Rules,
2014 is not applicable to the Company.

(xv) Undisclosed Income

There are no transactions not recorded in the books of account that have been surrendered or disclosed
as income during the year in the tax assessments under the Income Tax Act 1961 (such as search or survey or
any other relevant provisions of the Income Tax Act).

(xvi) Corporate Social Responsibility (CSR)

During the current year the Company had to make CSR expenditure of H 20.00 Lakhs (Prevoius Year H 8.00 Lakhs)
of which H 8.00 Lakhs expenditure has been incurred. The amount of H 12.00 Lakhs being unspent CSR of the
current year (Previous Year Nil) is lying in a separate bank account as on 31st March, 2026.

(xvii) Details of Crypto Currency or Virtual Currency

This clause is not applicable since the Company has not traded or invested in Crypto currency or Virtual currency
during the year.

16 The Company continued to make sustained efforts for recovery of sundry debtors considered as bad debts and recovered
H 4.15 lakhs during the year (Previous Year - H 2.43 lakhs) and this amount has been disclosed as bad debts
recovered in Note 19.

17 (A) The Company''s activities fall within a single business segment of providing consultancy services, cloud

management services etc.

(B) The geographical segment is not considered as a reportable segment since the revenue from exports is a very
insignificant percentage of the total revenue.

18 Figures of the previous year have been regrouped in conformity with those of the current year.

Provisions, Contingent liabilities and Contingent assets

Provisions are recognised when there is a present obligation 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 there is a reliable estimate of the amount of the obligation can be made.
Provisions (excluding retirement benefits) are measured at the best estimate of the expenditure
required to settle the present obligation at the Balance sheet date and are not discounted to its
present value These are reviewed at each Balance Sheet date and adjusted to reflect the current
best estimates.

Contingent liabilities are disclosed when there is a possible obligation arising from past events,
the existence of which will be confirmed only by the occurrence/non-occurrenee of one/more
uncertain future events not wholly within the control of the company or a present obligation that
arises from past events where it is either not probable that an outflow of resources will be
required to settle or a reliable estimate of the amount cannot be made.

A contingent asset is neither recognised nor disclosed in the financial statements.

Cash Flow Statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the
effects of transactions of a non-cash nature, any deferrals or accruals of past or future operating
cash receipts or payments and item of income or expenses associated with investing or financing
cash flows. The cash flows are segregated into operating, investing and financing activities.

Taxation

Current Tax is determined as the amount of tax payable in respect of taxable income for the
period based on applicable tax rates and laws.

Deferred tax is recognised on timing differences, being the differences between the taxable
income and the accounting income that originate in one period and are capable of reversal in one
or more subsequent periods. Deferred tax is measured using the tax rates and the tax laws
enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognised
for all timing differences Deferred tax assets are recognised only if there is virtual certainty that
there will be sufficient future taxable income will be available against which these can be
realised. Deferred tax assets and liabilities are offset if such items relate to taxes on income
levied by the same governing tax laws and the Company has a legally enforceable right for such
set off. Deferred tax assets are reviewed at each Balance Sheet date for their readability.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand, cash at banks, fixed deposits and short-term
highly liquid investments with an original maturity of three months or less.

In the Cash Flow Statement, cash and cash equivalents includes cash in hand, demand deposits
with banks, other short term highly liquid investments with original maturities of three months or

less.

Earnings per share

Basic earnings per share is calculated by dividing the net profit or loss for the period attributable
to equity shareholders by the weighted average number of equity shares outstanding during the
period. Earnings considered in ascertaining the Company''s earnings per share is the net profit for
the period. The weighted average number of equity shares outstanding during the period and for
all periods presented is adjusted for events, such as bonus shares, other than the conversion of
potential equity shares, that have changed the number of equity shares outstanding, without a
corresponding change in resources. For the purpose of calculating diluted earnings per share, the
net profit or loss for the period attributable to equity shareholders and the weighted average
number of shares outstanding during the period are adjusted for the effects of all dilutive
potential equity shares.

NOTE 20

Other Notes

1. The Company is engaged in the business of providing consultancy and services,
development and reselling in the field of cloud, cloud management and cloud related
solution, information technology, content creation, web photogram metric. imaging and
display software development.

2. In the opinion of the Board of Directors of the Company, the realisable value of the
assets, except Fixed Assets, in the ordinary course of business is not less than that stated
in the Balance Sheet.

3. There was no impairment of Property. Plant and Equipment''s on the basis of evaluation
on physical verification done by the management during the year.

4. The assets of the Company are free from encumbrances except as stated in the Financial
Statements.

5. Internal Control System has been designed and implemented to prevent and detect fraud
or error, proper custody, use of assets and preparation of financial information. No
fraud or suspected fraud on or by the Company has been noticed or reported during the
year involving management or employees who have significant roles in internal control
which could have a material effect on the financial information.

6. Account Balances. Trade Receivables, Advances. Deposits and other Current Assets
have been taken in the financial statements on the basis of books and records of the
Company, as reviewed by the Board about their realizability and obligations, in cases
where confirmation of account balances, to determine the carrying value required, have
not been received.

7. All liabilities and major contingent liabilities have been duly considered in the Financial
Statements.

8. The Company has no litigation or legal/disputed matters relating to claims or possible
claims, if any, or demand against which there could be any future impact on its financial
position.

9. The Company did not have to make any provision under the applicable laws or
accounting standards for material foreseeable losses on long term contracts including
derivative contracts.

10. There were no amounts which were required to be transferred to the Investor Education
and Protection Fund by the Company.

1 i. Deferred Tax Liability/Asset has been recognised in accordance with Accounting
Standard 22.

(in) Loans or Advances to Promoters, Directors, KMPs and the related parties

This clause is not applicable since the Company has not granted Loans or Advances in
the nature of loans to promoters, directors, KMPs and the related parties (as defined
under the Act) either severally or jointly with any other person.

(iv) Capital Work In Progress (CWIP)

The clauses on Capital Work in progress are not applicable since the Company has no
such item. The Company has no projects where activity has been suspended.

(v) Intangible Assets under development

The clauses on Intangible Assets under development are not applicable since the
Company has no such item. The Company has no projects where activity has been
suspended.

(vi) Details of Benami Property held

the clauses on Benami Property are not applicable since the Company has no such
property

(vii) Borrowings from banks or financial Institutions on the basis of security of
current assets

This clause is not applicable since the Company has no such borrowings.

(viii) Wilful Defaulter

This clause on being a wilful defaulter is not applicable since the Company does not
have any borrowing from banks or financial institutions or other lenders.

(ix) Relationship with Struck off Companies

The Company has no relationship and does not have any transaction with any
Company struck off under section 248 of the Act or section 560 of the Companies
Act 1956.

(x) Registration of charges or satisfaction with Registrar of Companies

There are no cases where charges or satisfaction are yet to be registered with Registrar
of Companies beyond the statutory period.

(xiii) Compliance with approved schemes of Arrangements

This clause is not applicable since there was no scheme of Arrangement requiring
approval by the Competent Authority'' in terms of sections 230 to 237 of the Act.

(xiv) Utilization of borrowed funds and share premium

(A) The clauses on the above are not applicable since the Company has not

advanced or loaned or invested funds (either from borrowed funds or share

premium or any other sources or kind of funds) to any Intermediary'' for lending
or investing or providing guarantee, security for any Beneficiary.

(B) The clauses on the above are not applicable since the Company has not

received any fund from any Funding Party for lending or investing or giving

guarantee, security to any Beneficiary.

(xv) Undisclosed Income

There are no transactions not recorded in the books of account that have been
surrendered or disclosed as income during the year in the tax assessments under the
Income Tax Act 1961 (such as search or survey or any other relevant provisions of the
income Tax Act).

(xvi) Corporate Social Responsibility'''' (CSR)

Tliis clause is not applicable since the Company is not covered under section 135 of
the Act.

(xvii) Details of Crypto Currency or Virtual Currency

This clause is not applicable since the Company has not traded or invested in Crypto
currency or Virtual currency during the year.