2.10 Provisions and contingent liabilities
The Company creates a provision when there is present obligation as a result of a past event that probably
requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation
that may, but probably will not, require an outflow of resources. The Company also discloses present
obligations for which a reliable estimate cannot be made. When there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure
is made.
2.11 Foreign currency translation
The Company’s financial statements are presented in Indian Rupee, which is also the Company’s
functional currency.
Initial recognition
Foreign currency transactions are recorded in the reporting currency, by applying to the foreign currency
amount the exchange rate between the reporting currency and the foreign currency at the date of the
transaction.
Conversion
Foreign currency monetary items are re-translated using the exchange rate prevailing at the reporting
date. Nonmonetary items, which are measured in terms of historical cost denominated in a foreign
currency, are reported using the exchange rate at the date of the transaction.
Exchange differences
All exchange differences are accounted in the Statement of Profit and Loss.
2.12 Fair value measurement
The Company measures its qualifying financial instruments at fair value on each Balance Sheet date.
Fair value is the price that would be received against sale of an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date. The fair value measurement is
based on the presumption that the transaction to sell the asset or transfer the liability takes place in the
accessible principal market or the most advantageous accessible market as applicable.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient
data is available to measure fair value, maximising the use of relevant observable inputs and minimising
the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are
categorised within the fair value hierarchy into Level I, Level II and Level III based on the lowest level
input that is significant to the fair value measurement as a whole. For a detailed information on the fair
value hierarchy, refer note no. 27.
For assets and liabilities that are fair valued in the financial statements on a recurring basis, the Company
determines whether transfers have occurred between levels in the hierarchy by re-assessing categorisation
(based on the lowest level input that is significant to the fair value measurement as a whole) at the end of
each reporting period.
For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on
the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value
hierarchy.
2.13 Unless specifically stated to be otherwise, these policies are consistently followed.
All financial instruments for which fair value is recognised or disclosed are categorised within the
fair value hierarchy, described as follows, based on the lowest level input that is insignificant to the
fair value measurements as a whole.
Level 1 : quoted (unadjusted) prices in active markets for identical assets or liabilities.
Level 2 : valuation techniques for which the lowest level inputs that has a significant effect on the
fair value measurement are observable, either directly or indirectly.
Level 3 : valuation techniques for which the lowest level input which has a significant effect on fair
value measurement is not based on observable market data.
The following table provides the fair value measurement hierarchy of the Company’s assets and
liabilities, other than those whose fair values are close approximations of their carrying values.
For cash and cash equivalents, trade receivables, other receivables, short term borrowing, trade payables
and other current financial liabilities the management assessed that their fair value is approximate their
carrying amounts largely due to the short-term maturities of these instruments.
31 Other Disclosure as per amendment in Schedule-III dated 24th March, 2021.
a) There are no proceedings has been initiated or pending against the entity under the Benami Transactions
(Prohibitions) Act, 1988.
b) Compliance with approved Scheme(s) of Arrangements
There are none Scheme of Arrangements has been approved by the Competent Authority in terms of sections
230 to 237 of the Companies Act, 2013.
c) Corporate Social Responsibility Expenditure
The provision of Corporate Social Responsibility under section 135 of the Act is applicable to the company
and the company has expended Rs. 12,00,000/- during the year.
d) Details of Crypto Currency or Virtual Currency
The company has not entered in any transaction relating to Crypto Currency or Virtual Currency during the
year.
e) Relationship with Struck off Companies:
The entity has not entered into any transaction with such entities whose name has been stuck off u/s 248 of
the Act.
f) Utilization of Borrowings
No borrowings from banks and financial institutions were taken during the year other than OD Limit on Fixed
deposits held as Current Assets.
g) Willful Defaulter
The company has not declared as wilful defaulter.
h) Compliance with number of layers of companies
The company has been complied with the provision relating to layers of companies.
i) Registration of charges or satisfaction with Registrar of Companies:
The company has registered all the charges with Registrar of Companies within the statutory period.
j) Undisclosed income
There is no such income which has not been disclosed in the books of accounts. No such income is
surrendered or disclosed as income during the year in the tax assessments under Income Tax Act, 1961.
37. In the opinion of the Board, all Current Assets, Loans & Advances (Except where indicated otherwise)
collectively have a value on realisation in the ordinary course of business at least equal to the amount at
which they are stated.
38. Loans & Advances as appearing on the assets side of the balance sheet are subject to confirmation. Any
adjustments thereof shall be made on final reconciliation.
39. Provision regarding Provident fund and Gratuity Act, 1972 are not applicable to the company during the
year under reference.
40. The company is engaged in the business of non-banking financial activity. Since all the activities relate to
main activity, in the opinion of the management, there is only one business segment in terms of Ind AS-108
on Operating Segment issued by ICAI.
41. Referring to Note No. 42 of the financial statements for the year ended March 31, 2024, the company has
received notice dated 02-06-2021 from Directorate of Enforcement, Hyderabad in which this Central
Investigating Agency had sought certain clarifications regarding business transactions during the year 2020¬
21.
As per the management, the company had provided necessary details as required by the Central Investigating
Agency. No further communication has been received from the Central Investigating Agency.
The management is of an opinion that this is an informative investigation and does not have any material
financial obligation on the company
During 2022-23 Directorate of Enforcement have taken a sum of Rs.19,053/- from one of the Bank accounts
of the company. No details / documents have been received by the company in this matter. The same has
been shown as recoverable. Necessary adjustments shall be made on final disposal of the matter.
42. Certain Parties to whom Loans have been given are either not paying interest nor they have provided interest
on our account in their books of account as per confirmations received. Necessary efforts by the company
is being made to recover the principal amount along with interest. The total amount of interest is not
ascertained. Interest whenever received shall be adjusted in the books of account accordingly.
43. Related Party Disclosures:
In accordance with the Accounting Standards (Ind AS-24) on Related Party Disclosure, where control exists
and where key management personnel are able to exercise significant influence and, where transactions have
taken place during the year, along with description of relationship as identified, are given below:-
46. Figures for the previous year have been regrouped or recasted wherever necessary.
Tax Expense is the aggregate of current year income tax and deferred tax charged to the Profit and Loss
Account for the year.
Current Year Charges
Income Tax provision of Rs. 3,95,100/- (P.Y. NIL) has been made.
Deferred Tax Liability/Asset
The Company estimates the deferred tax charge using the applicable rate of taxation based on the impact
of timing differences between financial statements and estimated taxable income for the current year.
However, Deferred tax asset has not been recognized in terms of Ind AS 12 issued by ICAI by adopting
the conservative approach in respect of ascertained profitability in the future years.
vii. Disclosure of complaints : The company has not received any complaints from customers and from the
office of ombudsman during the current year.
For Krishan Rakesh & Co. For and on behalf of the Board
Chartered Accountants BCL Enterprises Limited
Firm Regn No. 009088N
K.K. Gupta MK Sharda Umesh Kumar Bajaj
(Partner) (Managing Director) (Director)
Membership No. 087891 DIN: 00053042 DIN: 02968410
Place: Delhi Ki shore Kargeti Shyam Lal
Date: 28-05-2025 (CFO) (Company Secretary)
(PAN: AQZPK6943M) (PAN: ADSPL0029K)
|