Shivamshree Businesses Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

viii Provisions, contingent liablity and contingent Assets

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable
that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be
made of the amount of the obligation. When the Company expects some or all of a provision to be reimbursed, for example, under
an insurance contract, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain.
The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when
appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is
recognised as a finance cost.

Contingent liability is disclosed in case of:

a) a presnt obligation arising from past events, whne it is not probable that an outflow of resources will be require to settle the
obligation ; and

b) a present obligation arising from past events, when no reliable estimate is possible,

Contingent assets are disclosed whn an inflow of economic benefits is probable.

ix Earning per share

Basic Earning per share is calculated by dividing the Net Profit after tax for the period attributable to equity shareholders by the
weighted average number of equity shares outstanding during the period.

Diluted EPS is computed by dividing the profit after tax, as adjusted for dividend, interest and other charges to expenses or income
relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basis EPS
and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity
shares.

For M A A K & Associates For and on Behalf of the Board of Directors of

Chartered Accountants Shivamshree Businesses Limited

FRN:135024W

SD/- SD/- SD/- SD/-

Kenan Satyawadi Ghanshyambhai Gajera Prafulbhai Bavishiya Shaileshbhai Bavishiya

Partner CFO Director Director

Membership No. 139533 PAN No. AJPPP5551K DIN No. :- 01908180 DIN No. :- 01908191

UDIN: 24139533BKECUQ6819

Date: 20/05/2024 Date: 20/05/2024

Place: Ahmedabad Place: Ahmedabad

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Mar 31, 2015

1. The company continues to carry on its operation and expects to continue the same and hence the accounts have been prepared "on going concern basis" despite substantial losses.

2. In the opinion of Board:

The Current Asset, Loans & Advances have value on realisation in the ordinary course of business of the Company at least equal to the amounts at which they are stated in the Balance Sheet.

3. Previous Year's figures have been regrouped, reclassified, wherever necessary.

4. There were no provision made for interest on short term loans & Advances.

5. Related Party Disclosures: (AS 18)

There was no related Party Transaction during the Year under the Review.

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Mar 31, 2014

A. Related Party Disclosures

Key Management Personnel i) Mr. Sudharshan Jha ii) Mr. Ratan Singh

B. Earnings Per Share

Earnings per Share (EPS) are calculated by dividing the Net Profit or Loss for the period attributable to equity shareholders by the Weighted Average Number of equity shares outstanding during the period. For the purpose of calculating Diluted Earnings Per share, the Net Profit or Loss for the period attributable to equity shareholders is divided by the Weighted Average Number of shares outstanding during the period after adjusting for the effects of all dilutive potential equity shares.

C. Realizable Value of Current Assets

In the opinion of the management, the value on realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet and provisions for all known liabilities has been made.

D. Previous Year Information

Previous year figures have been redrawn to confirm to the current year''s classification as per the notification of Revised Schedule VI under the Companies Act, 1956 for the financial year commencing on or after 1st April 2013.

1. Notes to the Financial Statements

1.1 The company continues to carry on its operation and expects to continue the same and hence the accounts have been prepared on "going concern basis" despite substantial losses.

1.2 In the opinion of Board: The Current Asset, Loans & Advances have value on realisation in the ordinary course of business of the Company at least equal to the amounts at which they are stated in the Balance Sheet.

1.3 Previous Year''s figures have been regrouped, reclassified, wherever necessary.

1.4 There were no provision made for interest on short term loans & Advances.

1.5 Related Party Disclosures (AS-18) List of Related parties where control exists or with whom transactions have taken place in ordinary course of Businesses

Nature of Relationship Name of the Parties

1 Individuals owning directly or Swarnlata Jalan indirectly interest in voting power that given them control.

2 Key Management Personal and Relatives Rakesh Vashist Avnish Kumar Srivastava

3 Enterprises over which key Foremost Industries (2) and (3) are able to (I) Limited Daffodil exercise significant influence with Businesses Limited whom transactions have

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Mar 31, 2013

1.1 The company continues to carry on its operation and expects to continue the same and hence the accounts have been prepared “on going concern basis” despite substantial losses.

1.2 In the opinion of Board: The Current Asset,Loans & Advances have value on realisation in the ordinary course of business of the Company at least equal to the amounts at which they are stated in the Balance Sheet.

1.3 Previous Year''s figures have been regrouped,reclassified,wherever necessary.

1.4 The accumulated losses exceed Issued Capital and Reserve & Surplus. The Company does not have any manufacturing unit. The management is of the opinion that section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 is not applicable to the Company.

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Mar 31, 2012

1.1 The company continues to carry on its operation and expects to continue the same and hence the accounts have been prepared “on going concern basis” despite substantial losses.

1.2 In the opinion of Board: The Current Asset,Loans & Advances have value on realisation in the ordinary course of business of the Company at least equal to the amounts at which they are stated in the Balance Sheet.

1.3 Previous Year’s figures have been regrouped,reclassified,wherever necessary.

1.4 The accumulated losses exceed Issued Capital and Reserve & Surplus. The Company does not have any manufacturing unit. The management is of the opinion that section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 is not applicable to the Company.

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Mar 31, 2011

1 No provision has been made :

i) For loss which may arise due to fall in the value of unquoted investments.

ii) For interest payable on unsecured loans for the year.

2 Related Party Disclosures: (AS - 18)

List of related parties where control exists or with whom transactions have taken place in ordinary course of business during the year are given hereunder.

Nature of Relationship Name of the Parties

1) Individuals owning directly Foremost Industries I Limited or Indirectly

2) Key Management Personal and Rakesh Vashist Relatives

3) Enterprises over which key Foremost Industries (I) Limited (2) and (3) are