j) Provisions and Contingencies
A Provisions
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 are liable estimate can be made of the amount of the obligation. When the Company expects some or
all of a provision to be reimbursed, for example, under an insurance contract, the reimbursement is recognised as a
separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented
in the statement of profit and loss net of any reimbursement.
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.
B Contingent Liabilities and Contingent Assets
A contingent liability is a possible obligation that arises from a past event, with the resolution of the contingency
dependent on uncertain future events, or a present obligation where no outflow is probable. Major contingent
liabilities are disclosed in the financial statements unless the possibility of an outflow of economic resources is
remote. Contingent assets are not recognized in the financial statements but disclosed, where an inflow of economic
benefit is probable.
k) Segment Reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating
decision maker. The chief operating decision maker of the Company is responsible for allocating resources and
assessing performance of the operating segments.
l) Exceptional Items
Exceptional Items refer to items of income or expenses including tax items, within the statement of profit and loss
from ordinary activities which are non-recurring and one of such size, nature of incidence that their separate
Disclosure is concerned necessary to explain the performance of the company.
m) Revenue
The Company has concluded that it is the principal in all of its revenue arrangements since it is the primary obligor
in all the revenue arrangements as it has pricing latitude and is also exposed to inventory and credit risks. The
specific recognition criteria described below must also be met before revenue is recognised:
Sale of goods
Revenue from contracts with customers is recognised when the provision of service is completed at an amount that
reflects the consideration to which the Company expects to be entitled in provision for those services.
n) Leases
Short-term leases and leases of low-value assets
The Company applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have
a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies
the lease of low-value assets recognition exemption to leases that are considered to be low value. Lease payments on
short-term leases and leases of low-value assets are recognised as expense on a straight-line basis over the lease
term.
o) Recent Accounting pronouncements Standards issued but not yet effective and not early adopted by the
Company
Ministry of Corporate Affairs ("MCA") notifies new standard or amendments to the existing standards from time to
time. There have been no new Standards made applicable from 1st April, 2025.
NOTE : 26
FINANCIAL RISK MANAGEMENT
The Company’s activities expose it to a variety of financial risks, including market risk, credit risk and liquidity risk. The Company’s risk management assessment and policies and processes are established to identify and
analyse the risks faced by the Company, to set appropriate risk limits and controls, and to monitor such risks and compliance with the same. Risk assessment and management policies and processes are reviewed regularly to
reflect changes in market conditions and the Company’s activities.
Credit risk
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s receivables from customers, loans
and balance with banks. The carrying amount financial assets represents the maximum credit exposure .The maximum exposure to credit risk was Rs.5.95 Crores as at March 31, 2025 (March 31, 2024: Rs.7.71 Crores). Credit
risk is managed through credit approvals, establishing credit limits and continuously monitoring the creditworthiness of counterparty to which the Company grants credit terms in the normal course of business. Outstanding
customer receivables are regularly monitored. The management continuously monitors the credit exposure towards the customers and makes provision against those balances considered doubtful of recovery.
Trade receivables
The Company has used expected credit loss (ECL) model for assessing the impairment loss. For the purpose, the Company uses a provision matrix to compute the expected credit loss amount. The provision matrix takes into
account external and internal risk factors and historical data of credit losses from various customers.
NOTE : 30
LEASES
The Company has elected to use the recognition exemptions for lease contracts that, at the commencement date, have a lease term of 12 months or less and do not contain a purchase option
(short-term leases). There are no long term lease in the Company's books and as a result, there is no impact on the financials.
NOTE : 31
Provision
In respect of any present obligation as a result of past event that could lead to a probable outflow of resources, provisions has been made, which would be required to settle the obligation. The
said provisions are made as per the best estimate of the management and disclosure as per Ind AS 37 - “Provisions, Contingent Liabilities and Contingent Assets” has been given below: '
NOTE : 32
Deferred Tax Asset / (Liabilities) (Net)
Since the Company has been incurring losses it has not recognised Deferred Tax Assets.
NOTE : 33
SEGMENT
In the context of Indian Accounting Standard (Ind AS) 108 - Operating Segments, "Entertainment" is considered as the Operating Segment of the Company since the "Chief Operating Decision Maker" (CODM) reviews business
performance at an overall Company level as one segment.
NOTE : 34
REVENUE FROM CONTRACTS WITH CUSTOMERS
Ind AS 115 Revenue from Contract with Customer was issued on March 28,2018 and supersedes Ind as 11 'Construction Contracts' and Ind AS 18 'Revenue' and it applies with limited exception, to all revenue arising from
contracts with its customers. The Company adopted Ind AS115 using the modified retrospective method of adoption with the date of initial application of April 01,2018 which does not required restatementof comperartive period.
The Company elected to apply the standard to all contracts as at April 01,2018. There is no Impact to be recongnised at the date of initial application as an adjustment to the opening balance of retained earnings.
NOTE : 35
USE OF ESTIMATES, JUDGMENTS AND ASSUMPTIONS
The preparation of the Company's financial statements requires the management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the
accompanying disclosures, and the disclosure of contingent liabilities. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates
are recognised in the period in which the estimates are revised and in any future periods affected. In particular, information about significant areas of estimation uncertainty and critical judgments in applying accounting policies
that have the most significant effect on the amounts recognised in the financial statements.
39 Company does not have any immoveable property and accordingly the clause pertaining to owning the title
deeds does not apply.
40 Company has not granted any Loans and Advances in the nature of Loans to Promoters, Directors, KMPs and
the related parties (as defined under Companies Act, 2013) either severally or jointly with any other person
during the year.
41 There has been no proceedings initiated or are pending against the Company for holding any Benami
Property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.
42 Company does not have any borrowings from any Banks or Financial Institutions and accordingly it has not
been declared as a Willful Defaulter.
43 Company has not entered into transactions wiith any of the Struck Off Companies during the financial year.
44 During the year there has been no satisfaction of charges registered with the Registrar of the Company.
45 Company has not been sanctioned any Working Capital limits from any Banks or Financial Institutions on the
basis of security of the Company's Current Assets and accordingly Company is not required to provide any
quarterly submissions to any Bank or Financial Institution.
46 To the best of our knowledge and belief, no funds (which are material either individually or in the aggregate)
have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources
or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities
(“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary
shall, 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 provide any guarantee, security or the like on behalf of
the Ultimate Beneficiaries
47 To the best of our knowledge and belief, no funds (which are material either individually or in the aggregate)
have been received by the Company from any person(s) or entity(ies), including foreign entities (“Funding
Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall, 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 provide any guarantee, security or the like on behalf of the
Ultimate Beneficiaries.
As per our report of even date For and on behalf of the Board of Directors of
For R.S. PRABHU & ASSOCIATES Anka India Limited
Chartered Accountants
ICAI Firm Registration Number 127010W Raman Rakesh Trikha
Director
DIN: 00383578
Dated : 30th May, 2025
Place : Gurugram
Anitha Viswanathan
Partner
Membership No.113512 Sulakshana Trikha
Place : Vasai Road (East) Director
Dated : 30th May, 2025 DIN: 02924761
Dated : 30th May, 2025
Place : Gurugram
Anu Sharma
Company Secretary
Dated : 30th May, 2025
Place : Gurugram
Manish Umakant Pandey
Chief Financial Officer
Dated : 30th May, 2025
Place : Gurugram
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