1) Accounting convention :
The Financial statements have been prepared in accordance with the applicable Indian accounting chartered accountants of india and Ministry of
company affairs.standards specified by the institute of The Financial statements have also been prepared in accordance with the relevant provisions
of Companies Act, 2013, as amended on 24.03.2021 i.e as per amended schedule 3 to the companies act 2013 read with companies (accounts) rules
2014 and companies (audit and auditors ) rules 2014.
2) Recognition of Income & Expenditure :
All Income and expenditure items having a mateiral bearing on the financial statements are recognised on accrual basis. Legal and Allied expenses
are provided on accrual / payment basis.
3) Fixed Assets and Depreciation :
Fixed assets are stated at cost of acquisition less accumulated depreciation. Direct Cost are capitalised until the asset are ready to be put to use.
These cost includes fright, installation cost. Duties and taxes and other allocated expenses including finance cost relating to specific
borrowing incurred during the construction period.
4) The balance are regrouped, reaaranged wherever necessary for improved disclosure in the Financial statements.
5) Investment
Not applicable
6) Gratuity / Retirement Benefits
Not applicable
7) Taxation
i) The Current charge for Income Tax is calculated on assessable profit of the company determine under Income Tax Act, 1961.
ii) The Company accounts for taxes on income to include the effect of timing difference in the tax expenses in the profit & loss account and the
deferred tax assets and liabilities in the balancesheet in accordance with the Accounting Standard AS 22 "Accounting for Taxes on Income "
issued by The Institute of Chartered Accountants of india, (ICAI). The company has evaluated various elements of tax computation
to determine whether any deferred tax asset or liability needs to be recognized.
8) The Balance in parties accounts are subject to confirmation and reconcilition . In the opinion of the management all current and non current
assets including loans and advances in the normal course of businee would realize the value at least to the extent stated in the Balance
sheet. Although company has no security against the advance amount, therefore unsecured in nature. Presently company is not able to get returns on the
major portion of its advances reflected in current and non current assets, but management of the company assured that the balance is fully recoverable
upto the extent reflected in the balance sheet. Auditor is of the opinion that the going concern of the company is completely doubtful, and assurance
cannot be given to the shareholders regarding the same.
9) Micro, Small and Medium Enterprises
There are no Micro,small and Medium enterprises in respect of whom the Company dues are outstanding for more than 45 days at the Balance
sheet date.The above information regarding Micro,Small and medium enterprises have been determined to the extent such parties have been identified
on the basis of infromation available with the Company and relied upon by the auditors.
10) The company is not involved in its principle objective and there is no activities carried out during the year.
11) The Company has only one reportable business segment.
VAG & COMPANY
FRN - 003014C Sd/- Sd/-
Chartered Accountants Parasram Jhamnani Vinod Jhamnani
(Mg.Director) ( CFO )
Sd/- DIN: 01266196
CA ARPIT JAIN
Membership No. 409781
Place : KOTA Sd/- Sd/-
Dated : 30/05/2024 Anmol Jindal CS Lalit Modi
(Director) (Company Secretary)
DIN:07618593
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