12. Provisions, Contingent Liabilities and
Contingent Assets:
A provision is recognized when the company has
a present obligation as a result of past event; it is
probable that an outflow of resources will be required
to settle the obligation, in respect of which a reliable
estimate can be made. Provisions are not discounted
to its present value and are determined based on
best estimate required to settle the obligation at the
balance sheet date. This are reviewed at each balance
sheet date and adjusted to reflect the current best
estimates. Contingent liabilities are not recognized but
are disclose in the notes. Contingent assets are neither
recognized nor disclosed in the financial statements.
13. Taxation :
The accounting treatment for the Income Tax in
respect of the Company's income is based on the
Accounting Standard on 'Accounting for Taxes on
Income' (AS-22). The provision made for Income
Tax in Accounts comprises both, the current tax and
deferred tax. Provision for Current Tax is made on
the assessable Income Tax rate applicable to the
relevant assessment year after considering various
deductions available under the Income Tax Act, 1961.
Deferred tax is recognized for all timing differences;
being the differences between the taxable income
and accounting income that originate in one period
and are capable of reversal in one or more subsequent
periods. Such deferred tax is quantified using the
tax rates and laws enacted or substantively enacted
as on the Balance Sheet date. The carrying amount
of deferred tax asset/ liability is reviewed at each
Balance Sheet date and consequential adjustments
are carried out.
14. Foreign Currency Transaction :
i) Initial Recognition: Foreign currency transaction,
are recorded in the reporting currency by applying
the exchange rate between the reporting currency
and the foreign currency at the date of the transaction.
ii) Conversion: Foreign currency monetary items
are reported using the closing rate.
iii) Exchange Difference: Exchange differences
arising on the settlement of monetary items
at rates different from those at which they are
initially recorded during the year or reported
in previous financial statement are recognized
as income or as expenses at the end of year by
applying closing rate.
15. Impairment of Assets:
An asset is treated as impaired when carrying cost of
assets exceeds its recoverable value. The recoverable
amount is measured as the higher of the net selling
price and the value in use determined by the present
value of estimated future cash flows. An impairment
loss is charged off to profit and loss account as and when
asset is identified for impairment. The impairment loss
recognized in prior accounting period is reversed if
there has been a change in the estimate of recoverable amount. An asset is treated as impaired when carrying cost of
assets exceeds its recoverable value. The recoverable amount is measured as the higher of the net selling price and
the value in use determined by the present value of estimated future cash flows.
16. Related Party Disclosures:
Related Party disclosures as required under the Accounting Standard (AS) - 18 on "Related Party Disclosures" notified
in Companies (Accounting Standards) Rules, 2006:
17. Earnings Per Share
During the current year period the company is having Rs. 6.26 Earnings per Share
18. Notes Forming Part Of The Accounts
a. Any other accounting policy not specifically referred to are consistent with generally accepted accounting
principles.
b. Debit/credit balances under the head "Current liabilities","Sundry debtors", "Unsecured loans" and "Loans and
advances" are subject to confirmation from respective parties.
c. On the basis of the information available with the company, there are no Micro, Small and Medium enterprise to
whom the company owes dues, which are outstanding for more than 45 days at the balance sheet date.
d. The Company does not have any Contingent liabilities in the nature of claims or guarantees.
e. The total depreciation attributable to Assets in consideration with WDV rule for calculation of depreciation has
been considered in full as on 31.03.2025
f. Previous year's figures have been regrouped, reclassified wherever necessary to correspond with the current
year's classifications/disclosures.
g. The company has not entered any transactions with struck off companies under section 248 of the companies
Act, 2013 or section 560 of companies Act, 1956.
h. The company had complied with requirement of registration of charges with Registrar of Companies in respect
of borrowings from the bank for company's assets.
i. There are no transactions that are not recorded in the books of account to be surrendered or disclosed as income
during the year in the tax assessments under the Income Tax Act, 1961.
19. Events occurring after the balance sheet date: The Board of Directors have recommended, subject to the
approval of shareholders, dividend of ? 0.35 per equity share of face value of ? 10/- (? Ten only) each for the year
ended March 31, 2025.
For, Mendajiwala& Co. For and on behalf of the Board of Directors
Chartered Accountants SHELTER PHARMA LIMITED
FRN :135065W
MohSoel N Mendajiwala MUSTAQIM N SABUGAR SHAKIL N SABUGAR
Proprietor Managing Director Director
Membership No.: 146324 Din : 01456841 Din : 01474868
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