అకౌంట్స్ గమనికలుCraftroot Retail Ltd.

Mar 31, 2024

2.6. Provisions, contingent liabilities and contingent assets
Contingent liability:

A possible obligation that arises from past events and the existence of which will be confirmed only by
the occurrence or non-occurrence of one or more uncertain future events not wholly within the control
of the Company are disclosed as contingent liability and not provided for. Such liability is not
disclosed if the possibility of outflow of resources is remote.

Contingent assets:

A contingent asset is a possible asset that arises from past events and whose existence will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly
within the control of the Company. Contingent assets are not recognised and disclosed only when an
inflow of economic benefits is probable.

Provisions:

A provision is recognized when as a result of a past event, the Company has a present obligation
whether legal or constructive that can be estimated reliably and it is probable that an outflow of
economic benefits will be required to settle the obligation. If the obligation is expected to be settled
more than 12 months after the end of reporting date or has no definite settlement date, the provision is
recorded as non-current liabilities after giving effect for time value of money, if material. Where
discounting is used, the increase in the provision due to the passage of time is recognized as a finance
cost.

2.7. Revenue Recognisation

a) Revenue from the sale of goods is recognised when significant risks and rewards in respect of
ownership of the goods are transferred to the customer, as per the terms of the order. The company has
shown separately in the expenses as the revenues from the operations are stated at gross amount as per
the Requirement of Ind AS 18 “Revenue”. Further, the amounts collected on behalf of third parties
such as government authorities for VAT, Service Tax and GST are excluded from the revenue since
the same do not result in increase in Equity.

b) Interest Income is recognised on time proportion basis.

2.8. Income taxes

Income tax expense comprises current and deferred tax expense. Income tax expenses are recognized
in statement of profit and loss, except when they relate to items recognized in other comprehensive
income or directly in equity, in which case, income tax expenses are also recognized in other
comprehensive income or directly in equity respectively. Current tax is the tax payable on the taxable
profit for the year, using tax rates enacted or substantively enacted by the end of reporting period by
the governing taxation laws, and any adjustment to tax payable in respect of previous periods. Current
income tax assets and liabilities are measured at the amount expected to be recovered from or paid to
the taxation authorities. Management periodically evaluates positions taken in the tax returns with
respect to situations in which applicable tax regulations are subject to interpretation and establishes
provisions where appropriate. Deferred taxes arising from deductible and taxable temporary
differences between the tax base of assets and liabilities and their carrying amount in the financial
statements are recognized using substantively enacted tax rates and laws expected to apply to taxable
income in the years in which the temporary differences are expected to be received or settled.

Deferred tax asset are recognized only to the extent that it is probable that future taxable profit will be
available against which the deductible temporary differences can be utilized. The carrying amount of
deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer
probable that sufficient taxable profit will be available to allow all or part of the deferred income tax
assets to be utilized.

2.9. Earnings Per Share

a) Basic earnings per share are calculated by dividing the net profit for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period.

b) For the purpose of calculating diluted earnings per share, the net profit for the period attributable to
equity shareholders and the weighted average number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares, if any.

2.10. Borrowing cost

Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets,
which are assets that necessarily take a substantial period of time to get ready for their intended use or
sale, are added to the cost of these assets, until such time as the assets are substantially ready for their
intended use or sale. All other borrowing costs are recognised in statement of profit and loss
in the period in which they are incurred.

2.11. Segment Reporting

The company has only one preliminary reportable segment i.e. Professional/Consultancy Services in
Multimedia & Advertisement Space or Time hence there is no separate reportable segments as
required in Ind AS 108 issued by ICAI.

2.12. Depreciation

Depreciation on tangible fixed assets is provided using the WDV Method based on the useful life of
the assets as estimated by the management and is charged to the Statement of Profit and Loss as per
the requirement of Schedule II of the Companies Act, 2013. In case of additions or deletions during
the year, depreciation is computed from the month in which such assets are put to use and up to
previous month of sale or disposal, as the case may be.

2.13. Foreign currency Transactions

Foreign currency transactions are recorded at the exchange rate prevailing at the date of transactions.
Exchange difference arising on settlement of transactions is recognised as income or expense in the
year in which they arise.

Monetary assets and liabilities related to foreign currency transactions

remaining unsettled at the end of the year are restated at the year-end rate and difference in translations
and unrealised gains / (losses) on foreign currency transactions are recognised in the statement of
profit & loss.

The premium or discount arising at the inception of forward exchange contracts is amortised as
expense or income over the life of the contract. Exchange differences on such contracts are recognised
in the statement of profit and loss in the year in which the exchange rates change. Any profit or loss
arising on cancellation or renewal of forward exchange contract is recognised as income or as expense
for the year.

20. Disclosure of Interest in other Entities:

As per Ind AS 112 - ‘ Disclosure of Interest in other Entities’, as notified by the Rules, the disclosures
of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

Key management personnel

B. Transactions between the Company and related parties and the status of outstanding
balances as at March 31, 2023:

C. Disclosure of significant transactions with related parties (Rs.) NA

a) In opinion of the directors, contingent liability not provided is Rs. Nil. (Nil)

b) Estimated amount of contracts remaining to be executed on capital account and not provided
for: Rs. Nil (Nil).

21. Balances of Trade Payables, Unsecured Loans, Trade Receivables, Long Term and Short Term
Loans & Advances, In-operative bank accounts, Other Current and Other Non Current Assets and
Provisions are subject to the confirmation of the parties concerned. Wherever confirmation of the
parties for the amounts due to them / amounts due from them as per books of accounts are not
received, necessary adjustments, if any, will be made when the accounts are reconciled / settled.

22. In the absence of information regarding outstanding dues of MICRO or Small Scale Industrial
Enterprise(s) as per The Micro, Small & Medium Enterprise Development Act, the Company has not
disclosed the same as required by Schedule III to the Companies Act.

23. Wherever no vouchers and documentary evidences were made available for our verification, we
have relied on the authentication given by management of the 0company.

24. Figures have been rounded off to the nearest rupee wherever required.

As per our report of even date

For, A. L. Thakkar & Co. For and on behalf of the Board

Chartered Accountants NIRBHAY COLOURS INDIA LIMITED

FRN. No. 120116W

sd/- sd/-

Sanjeev V Shah Raghvendra Kulkarni

(Partner) Managing Director

M. No.: 042264 DIN: 06970323

UDIN : 24042264BKAASY5376

Place: Ahmedabad sd/-

Date: 27/05/2024 Sonal D Gandhi

Director & CFO
DIN:07351479

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Mar 31, 2015

PARTICULARS As at 31st March As at 31st March 2015 Amount (Rs.) 2014 Amount (Rs.)

1. Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

Sales Tax Demand 0 0

Income tax Demand 0 0

Total 0 0

2. OTHER NOTES ON ACCOUNTS:

1. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts.

2. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view precaution of actual and realizable value has been taken care of.

3. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

4. Auditors Remuneration relating to audit works Rs.4500/- is provided at the end of year.

5. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount.

6. The Company has not disposed off any Fixed Assets during the year.

7. As certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realizable or net payable as the case may be.

8. As certified by Company that it has received written representation from all the Directors,

That Companies in which they are Directors had not defaulted in terms of section 164 (2) of the Companies Act, 2013, and that representation of Directors taken in Board that Director is disqualified from being appointed as Director of the Company.

9. Income in Foreign Currency is NIL.

10. Expenditure in Foreign Currency is NIL.

11. Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60,00,000/-

per annum or more are nil. (Previous Year Nil)

(b) Employed for part of the year and were in receipt of remuneration of Rs 5,00,000/ -per month or more are nil. (Previous Year Nil)

12. Particulars of licensed Capacity or Production Capacity is not applicable to the Company.

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Mar 31, 2014

Note

PARTICULARS As at 31st March, As at 31st March, 2014 Amount ('') 2013 Amount (Rs.)

1 Contingent liabilities and commitments (to the extent not provided for) Contingent liabilities

Sales Tax Demand 0 0

Income tax Demand 0 0

Total 0 0

2. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts.

3. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view of management the same are shown at realisable value and necessary precaution of actual and realisable value has been taken care of.

4. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

5. Auditors Remuneration relating to audit work Rs.4500/- (P.Y. Rs.3000/-) is provided at the end of year.

6. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount.

7. The Company does not own any Fixed Assets during the year.

8. As certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realizable or net payable as the case may be.

9. As Certified by Company that it has received written representation from All the Directors, that Companies in which they are Directors had not defaulted in terms of section 274(1)(g) of the Companies Act,1956, and that representation of Directors taken in Board that no Director is disqualified from being appointed as Director of the Company.

10. Income in Foreign Currency is NIL.

11. Expenditure in Foreign Currency is NIL.

12. Company has informed us that One Consultant Practicing Company Secretary is maintaining necessary registers required under Companies Act and Other Applicable Provisions but same are not produced before us for verification.

13. No Transaction has been made except filing of statutory papers to concerned authorities.

14. Share Application Money Account and Share Allotment are Subject to reconciliation.

15. The Company has not accounted for the Interest due on Loans Advances as the same are not recoverable and are also outstanding. This interest accounting will have an effect on Profit and Loss Account of the Company.

16. Number of employees who were:

(a) Employed throughout the year and were in receipt of remuneration of Rs. 60,00,000/- per annum or more are nil. (Previous Year Nil)

(b) Employed for part of the year and were in receipt of remuneration of Rs 5,00,000/-per month or more are nil. (Previous Year Nil).

17. No quantitative details are possible in absence of Commercial Activities during the year.

18. No information relating to licensed Capacity or Production Capacity is available at this stage.

As per our Auditor''s report of even date attached herewith.

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Mar 31, 2012

Note As at 31st March, As at 31st March, No 2012 Amount (Rs.) 2011 Amount (Rs.)

1 Contingent liabilities and commitments (to the extent not provided for)

Contingent liabilities

Sales Tax Demand 0 0

Income tax Demand 0 0

Total 0 0

1. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts.

2. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view of management the same are shown at realisable value and necessary precaution of actual and realisable value has been taken care of.

3. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

4. Auditors Remuneration relating to audit work Rs.1500/- (P.Y. Rs.1500/-) is provided at the end of year.

5. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount.

6. Management of the Company has physically verified the Fixed Assets and Investments in the Form of Shares and no discrepancy were found in Books and physical existence of Assets and Investments.

7. As Certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realisable or net payable as the case may be.

8. As Certified by Company that it has received written representation from All the Directors, that Companies in which they are Directors had not defaulted in terms of section 274(1)(g) of the Companies Act,1956, and that representation of Directors taken in Board that no Director is disqualified from being appointed as Director of the Company.

9. Income in Foreign Currency is NIL.

10. Expenditure in Foreign Currency is NIL.

11. Company has informed us that One Consultant Practicing Company Secretary is maintaining necessary registers required under Companies Act and Other Applicable Provisions but same are not produced before us for verification.

12. No Transaction has been made except filing of Statutory papers to concerned authorities.

13. As per information & Explanation given to us the shares for which allotment cum call money has not paid is under the process of forfeiture.

14. Share Application Money Account and Share Allotment are Subject to reconciliation.

15. As per the Information and explanation given to us the loans made in the nature of ICD are now within the prescribed Limit.

16. The Inter-Corporate Deposits though matured are not fully recovered.

17. The Company has not accounted for the Interest due on Loans Advances and Inter Corporate Deposits as the same are not recoverable and are also outstanding. This interest accounting will have an effect on Profit and Loss Account of the Company.

18. The T.D.S outstanding account on interest earned is yet to be reconciled.

19. No employee is getting any remuneration.

20. No quantitative details are possible in absence of Commercial Activities during the year.

21. No information relating to licensed Capacity or Production Capacity is available at this stage.

22. No Status Change is occurred during the year in the matter of GLFL Loan.

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Mar 31, 2010

1. Previous year figures have been re-grouped and rearranged wherever necessary for proper presentation of accounts

2. Sundry debit and credit balances of loans and advances are subject to confirmation and Bank Balances as per reconciliation, if any. As per view of management the same are shown at realisable value and necessary precaution of actual and realisable value has been taken care of.

3. As informed to us, there are no contingent liabilities as on Balance Sheet Date.

4. Auditors Remuneration relating to audit work Rs.1500/- (P.Y. Rs.1500/-)is provided at the end of year.

5. As informed to us there are no estimated amounts of contracts remaining to be executed on Capital Amount.

6. Management of the Company has physically verified the Fixed Assets and Investments in the Form of Shares and no discrepancy were found in Books and physical existence of Assets and Investments.

7. As Certified by the Directors all amounts in the Balance Sheet relating to Sundry Debtors, Sundry Creditors, Unsecured Loans, Deposits, Loans and advances are shown at net realisable or net payable as the case may be.

8. As Certified by Company that it has received written representation from All the Directors, that Companies in which they are Directors had not defaulted in terms of section 274(1)(g) of the Companies Act,1956, and that representation of Directors taken in Board that no Director is disqualified from being appointed as Director of the Company.

9. Income in Foreign Currency is NIL.

10. Expenditure in Foreign Currency is NIL.

11. Company has informed us that One Consultant Practicing Company Secretory is maintaining necessary registers required under Companies Act and Other Applicable Provisions but same are not produced before us for verification.

12. No Transaction has been made except filing of Statutory papers to concerned authorities.

13. As per information & Explanation given to us the shares for which allotment cum call money has not paid is under the process of forfeiture.

14. Share Application Money Account and Share Allotment are Subject to reconciliation.

15. As per the Information and explanation given to us the loans made in the nature of ICD are now within the prescribed Limit.

16. The Inter-Corporate Deposits though matured are not fully recovered.

17. The Company has not accounted for the Interest due on Loans Advances and Inter Corporate Deposits as the same are not recoverable and are also outstanding. This interest accounting will have an effect on Profit and Loss Account of the Company.

18. The T.D.S outstanding account on interest earned is yet to be reconciled.

19. No employee is getting any remuneration.

20. No quantitative details are possible in absence of Commercial Activities during the year.

21. No information relating to licensed Capacity or Production Capacity is available at this stage.

22. No Status Change is occurred during the year in the matter of GLFL Loan.