Provisions are recognised when the company has a present legal or constructive obligation as a
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suses masEes assessments ose time saiES osmosey ass is 53153 spesnis to e nhs
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usmg the EIR metfiod, less provision ior impairment.
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earnings per share is the weighted average number oi equity shares outstanding durmg the period
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potential equity shares.
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/*. Cash and cash equivalents in the Balance Sheet comprises of cash at banks and on hand and short¬
term denosits with an original maturitv of three month or less which are snhieot to an insignificant
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stipulated number of employees. Accordingly, actuarial valuation of gratuity has not been conducted and
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Financial Risk Management Objectives \ ' -;/
The Company’s operations currently do not expose itself to significant finance risks as explained
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Marse3EisSi she sonpanycas nozserdEnto ans foreign escHasgs or commodity
contracts. Accordingly, there is no significant exposure to die marked risk.
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Capital Management
The Company funds Us operations mainly through internal accruals and short-term toans from fts holding
company. The Company obtains short-term loans to maintain adequate supply of fiand^.
(a) Standard issued but not effective
There are no standards issued but not effective up to toe date of issuance of toe Company’s financial
statements.
(b) New and amended standards
The Ministry of Corporate Affairs has notified Companies (Ii^<d^^^n Accounting Standards) Amendment
March 2023KSP^^n^nh^follEwGBgE33A3B0i^ Sr3Sfe&iV32£32Ea955ioE9
beginning on or after 1 April 2023. The Company applied for tiie first-time toese amendments.
(i) Definition of Accounting Estimates - Amendmenss tic Ind AS 8
The amendmnnts clarify toe distinction be^een changes in accounting estimates, changes in accounting
policies and toe correction of errors, ft has also been darified how ei^t^:ities use measurement techniques and
mparts to develop accounting estimates.
The amendmnnts had no impact on toe Company’s finance statements.
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The a^^ndr^^^t^s aim to help entities provide accounting policy d^ctosures that are more useful by
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rntteriahty m making deristons about accounting policy disclosures.
The amendments have had an hnpaa on tiie Company’s disclosures of accounting policies, but not on toe
measuremntit, recognition or presentation of any items in toe Company’s financial statements.
Apart from toese, consequential amendments and editorial have been made to other Ind AS like Ind AS
The Company has accumulated loss which has resufted into erosion of toe Company’s net worth. The
management feels toat this erosion is temporary m natore and the Company’s future plans and prospects
witi help the Company to turn around m future. The promoter of toe Company has assured to infrise tiie
funds as and when required, hence toe Company has prepared fts Financial Statements on gomg concern
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Previous year figure has been regrouped /reclassified wherever necessary to correspond with the curreta
year’s classification /disclosure. ^ ^
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k(Tw.
For L B Jha& CO. For, Standard Shoe Sole and Mould (India) Limited
Chartered Accountants
FRN:301|)88E
D N Roy Rakesh Kolia Sangita Parida
ÝBaffneB iDrecHrE
Membership No.: 300389 DIN: 09785871 DIN: 09215260
Dated:30THMay, 2024 '%/ y*\
Place: Kolkata -J l yj?| For, Standard Shoe Sole and Mould (India) Limited
C^>—
2an02 SoWmjs
(Chief Financial Officer)
2223 S22322222M
|