Richfield Financial Services Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

xv. Provisions, contingent liabilities and contingent assets
Provisions are recognised only when:

(i) an entity has a present obligation (legal or constructive) as a result of a past event: and

(ii) it is probable that an outflow of resources embodying economic benefits will be required
to settle the obligation: and

«. (iii) a reliable estimate can be made of the amount of the obligation

Provision is measured using the cash flows estimated to settle the present obligation and when the effect of time value of money is
material, the carrying amount of the provision is the present value of those cash flows. Reimbursement expected in respect of
expenditure required to settle a provision is recognised only when it is virtually certain that the reimbursement will be received.
Contingent liability is disclosed in case of:

(i) a present obligation arising from past events, when it is not probable that an outflow of
resources will be required to settle the obligation; and

(ii) a present obligation arising from past events, when no reliable estimate is possible.

Contingent assets are disclosed where an inflow of economic benefits is probable. Provisions, contingent liabilities and contingent
assets are reviewed at each Balance Sheet date.

Where the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under
such contract, the present obligation under the contract is recognised and measured as a provision.

Contingent assets are not recognised in the financial statements.

xvii Statement of Cash Flows

Statement of Cash Flows is prepared segregating the cash flows into operating, investing and financing activities. Cash flow from
operating activities is reported using indirect method adjusting the net profit for the effects of:

i. changes during the period in operating receivables and payables transactions of a noncash nature:

ii. non-cash items such as depreciation, provisions, deferred taxes, unrealised foreign currency gains and losses, and undistributed
profits of associates and joint ventures; and

iii. all other items for which the cash effects are investing or financing cash flows

Cash and cash equivalents (including bank balances) shown in the Statement of Cash Flows exclude items which are not available for
general use as on the date of Balance Sheet

d) The Company has only one class of equity share having par value of Re 10/- per share. Each holder of Equity share is entitled to one vote per share.The
company declares and pays dividend In Indian Rupees. In the event of liquidation of the company, the holder of equity shares will be entitled to receive
remaining assets of the Company after distribution of all preferential amounts. The Distribution will be In proportion to the number of equity share held by
the shareholders.

e) The company has allotted 37,50,100 fully paid-up bonus shares of Face Value Rs. 10/- each pursuant to the Extra-Ordinary General Meeting held on
February 10,2025 of one equity share for every one equity share held as approved by the shareholders.The bonus shares were issued by capitalisation of a
sum not exceeding Rs. 3,75,01,000 from securities premium account and free reserves. The bonus shares once allotted shall rank pari passu in all respects
and carry the same rights as the existing equity share holders and shall be entitled to participate In full. In any dividend and corporate action, recommended
and declared after the new equity shares are allotted.

1 Securities premium

This Reserve represents the amount received In excess of face value of the equity shares. The reserve can be utilised only for the purposes outlined under
provisions of the Companies Act, 2013.

2 Statutory reserve

Statutory Reserve Is created as per the terms of section 45-IC[l) of the Reserve Bank of India Act, 1934. It requires every non banking finance institution
which is a Company to create a reserve fund and transfer therein a sum not less than twenty percent of its net profit every year as disclosed in the statement
of profit and loss before any dividend is declared. The Company has appropriated 20% of the Profit After Tax to the fund for the year.

3 General reserve

Under the erstwhile Companies Act 1956, general reserve was created through an annual transfer of profit for the period at a specified percentage in
accordance with applicable regulations. After the introduction of Companies Act 2013, the requirement to mandatorily transfer a specified percentage of the
net profit to general reserve has been withdrawn. However, the amount previously transferred to the general reserve can be utilised only in accordance with
the specific requirements of the Companies Act, 2013.

4 Retained earnings

This reserve represents the cumulative profits of the Company, less any transfers to Statutory Reserve, General Reserve, Dividend distribution and Loan Loss
Appropriations made during the year.

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Mar 31, 2024

Note. 25 Provision for Gratuity is not made since Payment of Gratuity Act, 1972 is not applicable on the company since the number of employees in our company is below ten.

Note: 26 |_n the absence of necessary information with the company relating to the registration of suppliers under the Micro, Small and Medium Enterprises Development Act, 2006 the information required under the Act could not be complied and disclosed.

Note: 27 COVID-19 pandemic has caused serious disruptions on the global economic and business environment and there is huge uncertainty with respect to its severity, which cannot be reasonably ascertained. However, the company has evaluated and found that there is no significant impact of COVtO -19 on the company up to the date of approval of these financial results and the carrying value of its assets and liabilities as at 31st March, 2021 shows the true and fair position of the company. Based on current indicators of future economic conditions, the company expects to recover the carrying amount of these assets and meets its obligation towards its liabilities.

Note: 28 Previous year figures have been regrouped or rearranged wherever necessary.

7 Capital work-in progress Details

Company doesnot have any capital work in progress for the year ended on 31-03-2024.

8 Intangible assets work in progress

Company doesnot have any intangible work in progress for the year ended on 31-03-2024.

9 Details of Benami Property held

Company doesnot have any proceedings have been initiated or pending against the company for holding any benami property under the Benami Transactions .(prohibition) Act .1988 (45 of 1988)

Company doesnot hold any property falling under the relevant sections of Benami transactions prohibition act.

10 Working Capital Borrowings

Nil

11 Wilful Defaulter

Company was not declared as a willful defaulter for the year ended 31-03-2024

12 Borrowings from financial institutions

Ths company has borrowed funds from bank and the purpose of the fund was to compensate for the working capital

13 Utilisation of share premium

Company doesn''t have share premium as on 31/03/2024 H Relationship with struck off companies

o^compames itct “bT" ^ ^re‘^a,i°^nSh''^P ^ ^ - P™s •« «» section 208 o, the companies ac, 20,3 or seCon ₅₆0

15 Registration of charges with registrar of companies

There are no pending charges to be registered with registrar of companies

16 Compliance of subsidiaries

Company doesn''t have any subsidiaries or holding company or associate relationship as on 31/03/2020

17 Compliance with approved schemes

Company is not under any schemes or arrangements as approved by the Competent authority in terms of Section 230-237 o, Companies Act 2013

18 Undisclosed Income

same for",he ''^he year 31''°³''²Â°²³ ^ "" ^C°^mpany haS n°'' ^receivad any dama"^d income tax au.ority regarding the

1? Corporate Social Responsibility (CSR)

Company doesn’t require to create a CSR reserve or carry out any CSR activity for the year on 31/03/2024

20 Crypto Currency

Company has not indulged itself in any crypto currency/ virtual currency transactions for the year ended on 31/03/2023

The company has not received any deposits or advances from any persons for the purpose of trading in crypto currency or virtual currency

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Mar 31, 2015

1. Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful life as specified in Schedule II. Accordingly the unamortised carrying value is being depreciated / amortised over the revised / remaining useful life. The written down value of Fixed Assets whose lives have expired as at 15t April 2014 have been adjusted with the retained earning amounting to Rs. 26391/-

2. An amount of Rs. 1,70,848/- from the Net Profit for the year ended 31.3.2015 has been transferred to RBI Reserve Fund in accordance with section 45-IC of the RBI Act, 1984 and Provision for Contingent Provisions against Standard Assets @ 0.25% of Standard Assets has been Provided as per RBI Notification No. DNBS.222/ CGM(US)-2011 dated January 17, 2011.

3. Related Parties with whom transactions are taken place during the year 2014-15 and relationship:

a) List of Related Paties and Relationship:

Key Management Personnel

Abhijit Puglia - Chief Financial Officer Meenakshi Daga - Executive Director Khushboo Kedia - Company Secretary

4. In the absence of necessary information with the company relating to the registration of suppliers under the Micro, Small and Medium Enterprises Development Act, 2006 the information required under the Act Could not be Complied and Disclosed.

5. Previous year figures have been regrouped or rearranged wherever necessary.

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Mar 31, 2014

1) There were no employees receiving remuneration to the extent laid down in section 217(2A) of the Companies Act, 1956,

2) An amount of Rs. 262,238/- from the Net Profit for the year ended 31.3.2014 has been transferred to RBI Reserve Fund in accordance with section 45-IC of the RBI Act, 1984 and Provision for Contingent Provisions against Standard Assets @ 0.25% of Standard Assets has been Provided as per RBI Notification No. DNBS.222/CGM(US)-2011 dated January 17,2011.

i) The Company has disclosed Business Segment as the primary segment. Segments have been identified taking into account the nature of product, services, the different risks and results, the organisation structure and internal reporting system. The Company's operations predominantly relates to trading in Shares & Finance. Other business comprises brokerage etc.

ii) The Company's operations wholly relate to domestic market. The export turnover is nil. As such there are no reportable geographical segments.

iii) Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segment as also amounts allocated on a reasonable basis. The expenses, which are not directly relatable to the business segment, are shown as unallocated corporate cost. Assets and liabilities that cannot be allocable between the segments are shown as unallocated corporate assets and liabilities respectively.

3) The Company is a Smali And Medium Sized Company (SMC) as defined in the general instruction in respect of the Accounting Standards notified under the Companies Act, 1956.Accordingly the company has Complied with the Accounting Standards as applicable to a Small and Medium Sized Company.

4) In the absence of necessary information with the company relating to the registration of suppliers under the Micro, Small and Medium Enterprises Development Act, 2006 the information required under the Act Could not be Complied and Disclosed,

5) Previous year figures have been regrouped or rearranged wherever necessary.

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Mar 31, 2013

1) There were no employees receiving remuneration to the extent laid down in section 217(2A) of the Companies Act, 1956.

2) An amount of Rs. 37,426/- from the Net Profit for the year ended 31.3.2013 has been transferred to RBI Reserve Fund in accordance with section 45-IC of the RBI Act, 1984 and Provision for Contingent Provisions against Standard Assets @ 0.25% of Standard Assets has been Provided as per RBI Notification No. DNBS.222/ CGM(US)-2011 dated January 17,2011.

i) The Company has disclosed Business Segment as the primary segment. Segments have been identified taking into account the nature of product, services, the different risks and results, the organisation structure and internal reporting system. The Company's operations predominantly relates to trading in Shares & Finance. Other business comprises brokerage etc.

ii) The Company's operations wholly relate to domestic market. The export turnover is nil. As such there are no reportable geographical segments.

iii) Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segment as also amounts allocated on a reasonable basis. The expenses, which are not directly relatable to the business segment, are shown as unallocated corporate cost. Assets and liabilities that cannot be allocable between the segments are shown as unallocated corporate assets and liabilities respectively.

3) The Company is a Small And Medium Sized Company (SMC) as defined in the general instruction in respect of the Accounting Standards notified under the Companies Act, 1956.Accordingly the company has Complied with the Accounting Standards as applicable to a Small and Medium Sized Company.

4) In the absence of necessary information with the company relating to the registration of suppliers under the Micro, Small and Medium Enterprises Development Act, 2006 the information required under the Act Could not be Complied and Disclosed.

5) Previous year figures have been regrouped or rearranged wherever necessary.

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Mar 31, 2012

1) There were no employees receiving remuneration to the extent laid down in section 217(2A) of the Companies Act, 1956.

2) No amount of the Net Profit for the year ended 31.3.2012 has been transferred to RBi Reserve Fund in accordance with section 45-iC of the RBI Act, 1984 as there is no profit available in the concerned year and Provision for Contingent Provisions against Standard Assets @ 0.25% of Standard Assets has been Provided as per RBI Notification No. DNBS.222/ CGM(US)-2011 dated January 17, 2011.

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Mar 31, 2011

1 Fixed assets both tangible and intangible assets are tested for impairment every year and impairment loss if any is provided/adjusted as applicable.

2 As per information given to us and as per information available with the company there are no outstanding to Small Scale Industries at the year end.

3 There were no employees receiving remuneration to the extent laid down in section 217(2A) of the Companies Act, 1956.

4 An amount of Rs 66469/- comprising 20% of the Net Profit for the year ended 31.3.2011 has been transferred to RBI Reserve Fund in accordance with section 45-IC of the RBI Act, 1984 and Provision for Contingent Provisions against Standard Assets @ 0.25% of Standard Assets has been Provided as per RBI Notification No. DNBS.222/ CGM(US)-2011 dated January 17, 2011.

5 No provision for Gratuity has been made as none of the employees have completed the required years of service.

6 The Company is a Small And Medium Sized Company (SMC) as defined in the general instruction in respect of the Accounting Standards notified under the Companies Act, 1956.Accordingly the company has Complied with the Accounting Standards as applicable to a Small and Medium Sized Company.

7 In the absence of necessary information with the company relating to the registration of suppliers under the Micro,Small and Medium Enterprises Development Act, 2006 the information required under the Act Could not be Complied and Disclosed.

8 Previous year figures have been regrouped or rearranged wherever necessary.