10. Cash and Cash Equivalents
In the cash flow statement, cash and cash equivalents include cash in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.
11. Borrowing Costs
Borrowing costs directly attributable to acquisition or construction of qualifying assets (i.e. those fixed assets which necessarily take a substantial period of time to get ready for their intended use) are capitalized. Other borrowing costs are recognized as an expense in the period in which they are incurred.
12. Prior Period Items, Exceptional and Extraordinary Item
The Company follows the practice of making adjustments through 'prior year adjustments' in respect of all material transactions pertaining to the period prior to the current accounting year. The prior period adjustments, if any, are shown by way of notes to financial statements.
Exceptional and Extra Ordinary Items, if any, are shown separately as per applicable accounting standards.
13. Earnings Per Share
The Company reports basic and diluted Earnings per Share (EPS) in accordance with Accounting Standard 20.
14. Regrouping of Previous Year
The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amount and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.
15. Other accounting policies
These are consistent with generally accepted accounting policies.
16. Loans from Directors and Others
The Company has not given any loan to directors and others during the year.
17. Related Party Disclosure
Information as required under AS - 18 issued by the Institute of Chartered Accountants Of India in respect of Related Party Disclosures is as under:
18. The Small Scale & Micro Enterprise in respect of which the dues for more than 45 days as on 31.03.2024 is Rs.39.30 (Lacs)
19. The outstanding balances as at 31.03.2024 in respect of certain Sundry Debtors, Sundry Creditors, Loans & Advances and deposits are subjected to confirmation from respective parties and consequential reconciliation and or adjustments arising there from, if any. The Management, however, does not expect any material variation.
20. According to the opinion of the Management the value of realization of current assets, loans & advances and other receivables in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet.
21. Earning or Expenditure in foreign currency for Current Year and Previous Year as follows:
24. Additional Regulatory Information :
a. Title deeds of Immovable Property not held in name of the Company
According to the information and explanations given to us and on the basis of our examination of the records of the Company, There is no such assets of which Title deeds of Immovable Property not held in name of the Company.
b. Capital Work-in-Progress Aging Schedule
According to the information and explanations given to us and on the basis of our
examination of the records of the Company, there is no capital capital work in
progress.
c. Intangible assets under development aging Schedule
According to the information and explanations given to us and on the basis of our
examination of the records of the Company, there is no intangible assets under
development.
d. Loans and Advances given to Related Parties
According to the information and explanations given to us and on the basis of our examination of the records of the Company, there is no loans and advances are given to related parties.
e. Security of Current Assets against Borrowings
According to the information and explanations given to us and on the basis of our examination of the records of the Company, All quarterly returns or statements of current assets if applicable are filed by the company with banks or financial institutions and are in agreement with the books of accounts.
f. Details of Benami Property held
According to the information and explanations given to us and on the basis of our examination of the records of the Company, The Company do not have any Benami property and neither any proceedings have been initiated or is pending against the Company for holding any Benami property.
g. Wilful Defaulter
According to the information and explanations given to us and on the basis of our examination of the records of the Company, The Company has not been declared a wilful defaulter by any bank or financial institution or any other lender during the current period.
h. Relationship with Struck off Companies
According to the information and explanations given to us and on the basis of our examination of the records of the Company, The Company do not have any transactions with companies struck off.
i. Registration of Charge
According to the information and explanations given to us and on the basis of our examination of the records of the Company, The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the statutory period (If any).
j. Compliance with number of layers of companies
According to the information and explanations given to us and on the basis of our examination of the records of the Company, there 3 subsidiary companies of CARGOTRANS MARITIME LIMITED which are CARGOTRANS MARITIME FORWARDING PRIVATE LIMITED , CARGOTRANS MARITIME AGENCIES PRIVATE LIMITED and CARGOTRANS LINES PTE. LTD in Singapore.
k. Disclosure where company has given loan or invested to other person or entity to lend or invest in another person or entity
According to the information and explanations given to us and on the basis of our examination of the records of the Company, The Company have not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding 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
i. provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
l. Disclosure where company has received fund from other person or entity to lend or invest in other person or entity
According to the information and explanations given to us and on the basis of our examination of the records of the Company, 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:
a. 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
b. provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
m. Undisclosed Income
According to the information and explanations given to us and on the basis of our examination of the records of the Company, there is no such income which is undisclosed in financial statements.
n. CSR Expenditure
According to the information and explanations given to us and on the basis of our examination of the records of the Company and as per the provisions of the companies act 2013, CSR is Not applicable to the company.
o. Details of Crypto Currency
According to the information and explanations given to us and on the basis of our examination of the records of the Company, company has not done any transactions the crypto currency in previous year.
p. End use of the Fund
According to the information and explanations given to us and on the basis of our examination of the records of the Company, The loan has been utilised for the purpose for which it was obtained and no short term funds have been used for long term purpose (If any).
q. Disclosure on Revaluation of Assets:
According to the information and explanations given to us and on the basis of our examination of the records of the Company, there is no revaluation of assets have been done by company during the year.
r. Rounding off:
Rounding off has been done in Lakhs. Signatures to Schedule,
As per Our Report attached of even date Cargotrans Maritime Ltd
For Nirup Pomal & Associates
Firm Registration No.121752W Chartered Accountants
Edwin Alexander Manju Edwin
(Nirup B. Pomal) (Din: 05211513) (Din: 05224705)
Proprietor Director Director M.No 110183
UDIN: 24110183BKCBQQ5842
Chandrashekhar Rao Ansari Nasrullah
CEO & WTD CFO
Mahek kasta Company Secretary
Place: Gandhidham Date: 29/05/2024
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