Note: 13 Significant Accounting Policies:
a) General:
i) Accounting policies not specifically referred to otherwise are in consistence with earlier year
and in consonance with generally accepted accounting principles.
ii) Expenses and income considered payable and receivable respectively are accounted for on
accrual basis.
b) Valuation of Inventories: There are no Inventories in the company.
c) Fixed assets and depreciation: There is no Fixed Assets in the company.
d) Investments: Investments in the company are valued at cost.
e) Foreign currency Transactions: There is no foreign currency transaction.
f) Retirement Benefits: Provident fund and employees state insurance scheme contribution is not
applicable to the company.
g) Taxes on Income:
Current Tax: Provision for Income-Tax is determined in accordance with the provisions of
Income-tax Act 1961.
Deferred Tax Provision: Deferred tax is recognized, on timing difference, being the difference
between the taxable incomes and accounting income that originate in one period and are
capable of reversal in one or more subsequent periods.
Note: 14 Balances of Sundry Debtors, Creditors, Loans and Advances are subject to
confirmation and reconciliation.
Note: 15 In the opinion of the Board of directors, the current assets, Loans & advances are
approximately of the value stated if realized in the ordinary course of business. The
provision of all known liabilities is adequate and not in excess of the amount
reasonably necessary.
Note: 16 No Remuneration paid to the directors during the year.
Note: 17 No related party transaction were carried out during the year.
Note: 18 there is no reportable segment as per the contention of the management.
Note: 19 Basic and Diluted Earnings per share (EPS) computed in accordance with Accounting
Standard (AS) 20 "Earning per Share"
Note: 22 Other Notes
Additional Regulatory Information pursuant to Clause 6L of General Instructions for preparation of
Balance Sheet as given in Part I of Division II of Schedule III to the Companies Act, 2013, are given
hereunder to the extent relevant and other than those given elsewhere in any other notes to the
Financial Statements.
a. During the year ended March 31, 2024 and March 31, 2023, the Company has not advanced or
loaned or invested funds (either borrowed funds or share premium or kind of funds) to any other
person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding (whether
recorded in writing or otherwise) 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.
Further, during the year ended March 31, 2024 and March 31, 2023, 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.
b. The Company has not invested or traded in Crypto Currency or Virtual Currency during the year
ended March 31, 2024 (Previous: NIL)
c. No proceedings have been initiated on or are pending against the Company for holding benami
property under the Prohibition of Benami Property Transactions Act, 1988 (as amended in 2016)
(formerly the Benami Transactions (Prohibition) Act, 1988 (45 of 1988)) and Rules made thereunder
during the year ended March 31, 2024 (Previous year: Nil).
d. The Company has not been declared Wilful Defaulter by any bank or financial institution or
government or any government authority during the year ended March 31, 2024 (Previous year: Nil).
e. The Company has not surrendered or disclosed as income any transactions not recorded in the
books of accounts in the course of tax assessments under the Income Tax Act, 1961 (such as, search
or survey or any other relevant provisions of the Income Tax Act, 1961) during the year ended March
31, 2024 (Previous year: Nil).
f. The Company does not have any transactions with the companies struck off under section 248 of
the Companies Act, 2013 or section 560 of the Companies Act, 1956 during the year ended March
31, 2024 (Previous year: Nil).
g. The Company has complied with the number of layers prescribed under clause (87) of section 2 of
the Act read with the Companies (Restriction on number of Layers) Rules, 2017.
Signature to Notes '1' to '22'
As per our report on even date
FOR, BIPIN & CO. FOR & ON BEHALF OF THE BOARD
CHARTERED ACCOUNTANTS
FIRM NO: 101509W
CA AMIT SHAH DINESHKUMAR RATH OD MANISHA PATEL
PARTNER DIRECTOR DIRECTOR
M. No.126337 DIN:09406871 DIN:08482812
UDIN:24126337BKCXQU5073
PLACE: VADODARA
DATE : 23.05.2024
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