Springform Technology Ltd. के अकाउंट के लिये नोट

Mar 31, 2024

2.15. Provisions and Contingent Liabilities

Provisions are recognised when the Company has a present legal or constructive obligation
as a result of past events, it is probable that an outflow of resources will be required to
settle the obligation and the amount can be reliably estimated.

Contingent liabilities are disclosed when there is a possible obligation arising from past
events, the existence of which will be confirmed only by the occurrence or non-occurrence
of one or more uncertain future events not wholly with in the control of the company or a
present obligation that arises from past events where it is either not probable that an
outflow of resources will be required to settle or a reliable estimate of the amount can not
be made.

Where the likelihood of outflow of resources is remote, no provision or disclosure as
specified in Ind AS -37 - "Provision, contingent liabilities and contingent assets" is made.

2.16. Employee Benefits

(i) Short-term obligations

All employee benefits payable within twelve months of service such as salaries,
wages, bonus, ex-gratia, medical benefits etc. are recognised in the year in which the
employees render the related service. Termination benefits are recognised as an
expense as and when incurred. , , *

(ii) Post-employment

The Payment of Gratuity Act>*mtig&W^Bia^^mpaA^

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2.17. Dividends

No dividend declared for the year.

2.18. Earnings Per Share

(i) Basic earnings per share

Basic earnings per share is calculated by dividing:

• the profit attributable to owners of the Company

• by the weighted average number of equity shares outstanding during the
financial year, adjusted for bonus elements in equity shares issued during the
year

(ii) Diluted earnings per share

Diluted earnings per share adjusts the figures used in the determination of basic

earnings per share to take into account:

• the after income tax effect of interest and other financing costs associated with
dilutive potential equity shares, and

• the weighted average number of additional equity shares that would have been
outstanding assuming the conversion of all dilutive potential equity shares.

(i) Fair value hierarchy

No financial instruments are recognised and measured at fair value, except
derivative contracts which are measured at fair value through profit and loss. These
derivative contracts are over-the-counter foreign exchange forwards that are not
traded in an active market. Their fair valuation is determined using valuation
techniques that maximise the use of observable market data and rely as little as
possible on entity-specific estimates. Since all significant inputs required to fair value
these derivative contracts are observable, the instruments are classified as level 2.

For all the financial assets and liabilities referred above that are measured at
amortised cost, their carrying amounts are reasonable approximations of their fair
values.

(ii) Valuation processes

The finance department of the Company includes a team that carries out the
valuations of financial assets and liabilities required for financial reporting purposes.

2.21. Financial risk management objectives and policies

The Company''s business activities expose it to a variety of financial risks, namely credit risk,
liquidity risk and market risks. The Company''s senior management and key management
personnel have the ultimate responsibility for managing these risks. The Company has a
mechanism to identify and analyse the risks faced by the Company, to set appropriate risk
limits and controls and to monitor risks and adherence to limits. Risk management policies
and systems are reviewed regularly to reflect changes in market conditions and the
Company''s activities.

The Company''s senior management and key management personnel are supported by the
finance team and respective business divisions that provides assurance that the Company''s
financial risk activities are governed by appropriate policies and procedures and that
financial risks are identified, measured and managed in accordance with the Company''s
policies and risk objectives. The activities are designed to protect the Company’s financial
results and position from financial risks maintain market risks within acceptable parameters,
while optimising returns; and protect the Company''s financial investments, while maximising
returns.

(i) Management of Credit Risk

Credit risk is the risk of financial loss to the Company if a customer or counter-party
fails to meet its contractual obligations.

Trade Receivables

Concentrations of credit risk with respect to trade receivables are limited, due to the
Company''s customer base being large and diverse. All trade receivables are reviewed
and assessed for default on a regular basis. Our historical experience of collecting
receivables, supported by the level of default, is that credit risk is low.

Trade Receivables ageing Schedule for the year ended as on March 31, 2024 and
March 31, 2023.

(ii) Management of Liquidity risk

Liquidity risk is the risk that the Company will face in meeting its obligations
associated with its financial liabilities. The Company''s approach to manage liquidity is
to ensure that it will have sufficient funds to meet its liabilities when due without
incurring unacceptable losses.

The Company maintained a cautious funding strategy, with a positive cash balance
throughout the years. This was the result of cash delivery from the business. Cash
flow from operating activities provides the funds to service the financing of financial
liabilities on a day-to-day basis. Accordingly, low liquidity risk is perceived.

Maturities of financial liabilities

The following table shows the maturity analysis of the Company''s financial liabilities
based on contractually agreed undiscounted cash flows as at the Balance sheet date

(iii) Management of Market risk

The Company is not exposed to foreign currency risk.

2.22. Capital Risk Management

For the purpose of Company''s Capital Risk Management, "Capital" includes issued equity
y share capital, securities premium and all other equity reserves attributable to the
Jy r shareholders.

\ The Company''s objective in managing its capital is to safeguard its ability to continue as a

going concern and to optimise returns to our shareholders.

>$\ The capital structure of the Company is based on management''s assessment of the

•6Al]§i appropriate b a I a n ce y n rcte^tom e e t its strategic and day-to day needs. The

\ Management conaJ$3e^\be-«trrrount qfxa- roportion to risk and manages the capital

yy Membership \V

structure in light of changes in economic conditions and the risk characteristics of the
underlying assets. In order to maintain or adjust the capital structure, the Company may
adjust the amount of dividends paid to shareholders, return capital to shareholders or issue
new shares.

The Company maintains a stable and strong capital structure with a focus on total equity so
as to maintain shareholders and creditors confidence and to sustain future development
and growth of its business. The Company will take appropriate steps in order to maintain, or
if necessary adjust, its capital structure. Company is not subject to any debt.

The management monitors the return on capital as well as the level of dividends to
shareholders. The Company''s goal is to continue to be able to provide return to
shareholders by continuing to distribute dividends in future periods.

2.23. Related Party Transactions during the year.

(i) Relationships

Holding and Ultimate Holding Company

Subsidiaries Enterprise having significant influence and a subsidiary of the Holding
Company

(ii) Key Management Personnel

Spire India - Proprietorship Firm Pankaj Shah

Spring India - Partnership Firm, Partners Pankaj Shah & Rupali Shah

Company Secretary - Aastha Khandelwal

CFO - Nina Sardesai

the end of year for holding any benami property under the Benami Transactions
(Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.

2.25. The Company does not have any borrowings from banks or financial institutions on the basis
of security of current assets.

2.26. The company has not been declared wilful defaulter by any bank or financial institution or
other lender.

2.27. There were no charges or satisfaction yet to be registered with Registrar of Companies
beyond the statutory period at the end of the year.

2.28. The Company does not have any layers prescribed under clause (87) of Section 2 of the Act
read with Companies (Restriction on number of Layers) Rules, 2017.

2.29. There were no transactions relating to previously unrecorded income that have been
surrendered or disclosed as income during the year in the tax assessments under the Income
Tax Act, 1961 (43 of 1961).

2.30. The Company is not covered under section 135 of the Companies Act during the year.

2.31. The Company has not traded or invested in Crypto currency or Virtual currency during the
financial year.

2.32. Previous year''s figures have been regrouped or reclassified, wherever necessary.

2.34. The Company has no title deeds of Immovable Property which are not held in the name
of the Company.

2.35. The Company has no transactions with companies struck-off under section 248 of

Companies Act, 2013 or section 560 of the Companies Act, 1956. .....

2.36. Employee benefits expense during the year (Rs. In Thousand) i©Yu V X

f^T^m^entives - 3087.28 l§R"">8§fYff ^

^Mv1cmhership~^\ V''xv ^ \ \

Operating segments are reported in a manner consistent with the internal reporting
provided to the Chief Operating Decision Maker ("CODM") of the Company. The CODM, who
is responsible for allocating resources and assessing performance of the operating
segments, has been identified as the Company''s Managing Director who is in-charge of
corporate planning, examination of the Company''s performance both from a product and
geographic perspective as well as allocation of resources of the Company among the
businesses. The company operates only under information Technology business and thus
have only one reportable segment.

2.40. Critical Estimates and Judgements

The preparation of financial statements requires the use of accounting estimates which, by
definition, will seldom equal the actual results. This note provides an overview of the areas
that involved a higher degree of judgement or complexity, and of items which are more
likely to be materially adjusted due to estimates and assumptions turning out to be different
than those originally assessed. Detailed information about each of these estimates and
judgements is included in relevant notes together with information about the basis of
calculation for each affected line item in the financial statements.

AS PER OUR REPORT OF EVEN DATE

FORVANDANAV. DODHIA&CO. mi^ OJ^EHALF OF THE BpARO. \

CHARTERED ACCOUNTANTS

VANDANA V. DODHIA PANKAJ SHAH RUPALI SHAH

PARTNER MANAGING DIRECTOR DIRECTOR

FIRM REG No: 117812W D\pM0945$ll DINjflfi9.55564 v

MEMBERSHIP NO: 104000

VV vf* No. 104000 JJ ---" i

^7— --TV?NINA SARDESAI AASTHA KHANDELWAL

.'' I 1 CFO CO. SECRETARY

Place: MUMBAI Place: MUMBAI

Dated: 30-May-2024 Dated: 30-May-2024

UDIN: 24104000BKFJGM8317

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Mar 31, 2014

1. Information required as per Part II of Schedule VI to the Companies Act., 1956 relating to quantitative information regarding material, goods, stores, imports, exports, expenditure in foreign currency, amount remitted in foreign currency or earnings in foreign exchange, is not given as the same is not applicable.

2. Contingent Liabilities is Rs. NIL (Previous year - Rs. Nil)

3. The Provident Fund Act and other relevant acts are not applicable to the company.

4. The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of State or Union territory. Consequently, there are no Outstanding Dues of Small Scale Industrial Undertakings.

5. The Expenditure/ Income in Foreign Currency is NIL (The previous year is NIL)

6. Related Party Disclosure : Disclosure as required by ASIS for related party are given below: Mavji L. Shah - HUF

7. Key Management Personnel : Mr. Kishor M. Shah

Mr. Pankaj K Shah

8. Information on Segment Reporting as per Accounting Standard 17: The Company''s operations relate only to Software business and thus have only one reportable segment.

9. Contingent liabilities not provided for - Rs. NIL (Rs. NIL)

10. Estimated amount of contract remaining to be executed on capital a/c and not provided for Rs. NIL (previous year Rs. NIL).

11. Sundry Debtors and Sundry Creditors are subject to reconciliation, confirmation and necessary adjustments, if any.

12. Deferred Tax Liabilities/ (Assets): Calculation as follows

Deferred Tax Liability Accumulated Charge for Total

Mon 01.04.2013 the Year

Depreciation and others -36267 -353 -36620

13. As explained to us there is no amount outstanding exceeding Rs.100000/ due to Small scale Industrial undertaking

14. The Company does not have any scheme of retirement benefit namely Employees Provident a Pension Fund, Superannuatation. In the opinion of the management the Gratuity Act is not applicable to it and hence, no provision for gratuity has been made in accounts.

15. As informed, the Company does not have policy of allowing carry forward of unavailed leave by employees and the same Lapses If not utilized during the year. As the company does not allow encashment of leave, in the opinion of the management no provision thereof is deemed necessary.

16. The financial statements for the year ended 31st March. 2013 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequently to the notification under the Companies Act, 1956 the financial statements for the year ended 31st March, 2014 are prepared under the revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year''s classification.

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Mar 31, 2013

1 Contingent liabilities not provided for - Rs.NIL (Rs.NIL)

2 Estimated amount of contract remaining to be executed on capital a/c and not provided for Rs.NIL (previous year Rs.NIL).

3 Sundry Debtors and Sundry Creditors are subject to reconciliation, confirmation and necessary adjustments, if any.

4 As explained to us there is no amount outstanding exceeding Rs. 100000/ due to Small scale industrial undertaking.

5 The Company does not have any scheme of retirement benefit namely Employees Provident fit Pension Fund, Super annotations. In the opinion of the management the Gratuity Act is not applicable to it and hence, no provision for gratuity has been made in accounts.

6 As informed, the Company does not have policy of allowing carry forward of unveiled leave by employees and the same lapses if not utilized during the year. As the company does not allow encashment of leave, in the opinion of the management no provision thereof is deemed , necessary.

7 The financial statements for the year ended 31st March, 2012 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequently to the notification under the Companies Act, 1956, the financial statements for the year ended 31st March, 2013 are prepared under the revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year''s classification.

The Company has only one class of shares referred to as equity shares having a par value of Rs. 10 each.

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Mar 31, 2012

1. Information required as per Part II of Schedule VI to the Companies Act.'' 1956 relating to quantitative information regarding material'' goods'' stores'' imports'' exports'' expenditure in foreign currency'' amount remitted in foreign currency or earnings in foreign exchange'' is not given as the same is not applicable.

2. Contingent Liabilities is Rs. NIL (Previous year - Rs. Nil)

3. The Provident Fund Act and other relevant acts are not applicable to the company.

4. The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of State or Union territory. Consequently'' there are no Outstanding Dues of Small Scale Industrial Undertakings.

5. The break-up of Deferred tax liability at the year end is as below

Particulars 31-03-2011 31-03-2012

Depreciation 16975/- 14427/-

6. The Expenditure/ Income in Foreign Currency is NIL (The previous year is NIL)

7. Related Party Disclosure : Disclosure as required by AS 18 for related party are given below: Dewsoft Solutions Pvt. Ltd.

Smartcom Infotech Pvt. Ltd. Dataminds Technologies Pvt. Ltd.

8. Key Management Personnel: Mr. Kishor M. Shah

Mr. Pankaj K Shah

9. Information on Segment Reporting as per Accounting Standard 17: The Company''s operations relate only to Software business and thus have only one reportable segment.

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Mar 31, 2011

1. Information required as per Part II of Schedule VI to the Companies Act., 1956 relating to quantitative information regarding material, goods, stores, imports, exports, expenditure in foreign currency, amount remitted in foreign currency or earnings in foreign exchange, is not given as the same is not applicable.

2. Contingent Liabilities is Rs. NIL (Previous year - Rs. Nil)

3. The Provident Fund Act and other relevant acts are not applicable to the company.

4. The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of State or Union territory. Consequently, there are no Outstanding Dues of Small Scale Industrial Undertakings.

5. The Expenditure/ Income in Foreign Currency is NIL (The previous year is NIL)

6. Related Party Disclosure : Disclosure as required by AS18 for related party are given below: Dew soft Solutions Pvt. Ltd.

Smartcom Infotech Pvt. Ltd. Dataminds Technologies Pvt. Ltd.

7. Key Management Personnel: Mr. Kishor M. Shah

Mr. Pankaj K Shah

8. Information on Segment Reporting as per Accounting Standard 17: The Company''s operations relate only to Software business and thus have only one reportable segment.

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Mar 31, 2010

1.Information required as per Part II of Schedule VI to the Companies Act., 1956 relating to quantitative information regarding material, goods, stores, imports, exports, expenditure in foreign currency, amount remitted in foreign currency or earnings in foreign exchange, is not given as the same is not applicable.

2.Contingent Liabilities is Rs. NIL (Previous year - Rs. Nil)

3.The Provident Fund Act and other relevant acts are not applicable to the company.

4.The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of State or Union territory. Consequently, there are no Outstanding Dues of Small Scale Industrial Undertakings.

5.The Expenditure/ Income in Foreign Currency is NIL (The previous year is NIL)

6.Related Party Disclosure : Disclosure as required by AS 18 for related party are given below:

Dewsoft Solutions Pvt. Ltd.

Smartcom Infotech Pvt. Ltd.

Dataminds Technologies Pvt. Ltd.

7.Key Management Personnel:

Mr. Kishor M. Shah

Mr. Pankaj K Shah

8.Information on Segment Reporting as per Accounting Standard 17: The Companys operations relate only to Software business and thus have only one reportable segment.

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Mar 31, 2009

1 Information required as per Part II of Schedule VI to the Companies Act., 1956 relating to quantitative information regarding material, goods, stores, imports, exports, expenditure in foreign currency, amount remitted in foreign currency or earnings in foreign exchange, is not given as the same is not applicable.

2 Contingent Liabilities is Rs. NIL (Previous year - Rs. Nil)

3 The Provident Fund Act and other relevant acts are not applicable to the company.

1 The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of State or Union territory. Consequently, there are no Outstanding Dues of Small Scale Industrial Undertakings.

4 The Expenditure/ Income in Foreign Currency is NIL (The previous year is NIL)

5 Related Party Disclosure : Disclosure as required by AS 18 for related party are given below:

Stripco Spring Pvt. Ltd. Spring Fastner Pvt. Ltd. Dewsoft Solutions Pvt. Ltd. Smart com Infotech Pvt. Ltd. Dataminds Technologies Pvt. Ltd.

6 Key Management Personnel : Mr. Kishor M. Shah Mr. Pankaj K Shah

7 Information on Segment Reporting as per Accounting Standard 17: The Companys operations relate only to Software business and thus have only one reportable segment.

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Mar 31, 2008

1.Information required as per Part II of Schedule VI to the Companies Act., 1956 relating to quantitative information regarding material, goods, stores, imports, exports, expenditure in foreign currency, amount remitted in foreign currency or earnings in foreign exchange, is not given as the same is not applicable.

2.Contingent Liabilities is Rs. NIL (Previous year- Rs. Nil)

3.The Provident Fund Act and other relevant acts are not applicable to the company.

4.The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of State or Union territory. Consequently, there are no Outstanding Dues of Small Scale Industrial Undertakings.

5.The Expenditure/ Income in Foreign Currency is NIL (The previous year is NIL)

6.Information on Segment Reporting as per Accounting Standard 17: The Companys operations relate only to Software business and thus have only one reportable segment.

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Mar 31, 2007

1. Information required as per Part II of Schedule VI to the Companies Act.. 1956 relating to quantitative information regarding material, goods, stores, imports, exports, expenditure in foreign currency, amount remitted in foreign currency or earnings in foreign exchange, is not given as the same is not applicable.

2. Contingent Liabilities is Rs. NIL (Previous year - Rs. Nil)

3. The Provident Fund Act and other relevant acts are not applicable to the company.

4. The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of State or Union territory. Consequently, there are no Outstanding Dues of Small Scale Industrial Undertakings.

5. The Expenditure/ Income in Foreign Currency is NIL (The previous year is NIL,)

6. Related Party Disclosure : Disclosure as required by AS 18 for related party are given below: Slripco Spring Pvt. Ltd.

Spring Fastner Pvt. Ltd. Dewsoft Solutions Pvt. Ltd. Smartcom Infotech Pvt. Ltd. Dataminds Technologies Pvt. Ltd.

7. Key Management Personnel :

Mr. Kishor M. Shah Mr. Pankaj K. Shah

8. Information on Segment Reporting as per Accounting Standard 17: The Companys operations relate only to Software business and thus have only one reportable segment.

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Mar 31, 2006

1. Information required as per Part 11 of Schedule VI to the Companies Act., 1956 relating to quantitative information regarding material, goods, stores, imports, exports, expenditure in foreign currency, amount remitted in foreign currency or earnings in foreign exchange, is not given as the same is not applicable.

2. The Company did not have any employee during the year; hence the question of provision for Retirement benefit does not arise.

3. The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of State or Union territory. Consequently, there are no Outstanding Dues of Small Scale Industrial Undertakings.

4. Information on Segment Reporting as per Accounting Standard 17: The Companys operations relate only to Trading business and thus have only on importable segment.

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Mar 31, 1999

1. Information required as per Part II of Schedule VI to the Companies Act., 1956 relating to quantitative information regarding material, goods stores, imports. exports, expenditure in foreign currency, amount remitted in foreign currency or earnings in foreign exchange, is not given as the same is not applicable.

2. The Company did not have any employee during the year; hence the question of provision for Retirement benefit does not arise.

3. The Company has not done any transaction with ancillary industrial undertakings / small scale industrial undertakings holding permanent registration certificate issued by the Directorate of Industries of a state or Union territory. Consequently, there is no Outstanding Dues of small scale industrial undertakings.

4. The Company has earned a profit of Rs. 1,16,315/- during the year ended March 31, 1999. In the opinion of the management the impact of the Y2K will not vitiate the assumption of going concern in view of action plan to make the system Y2K compliant drawn up by the management. The management has furnished a letter to the Auditor's certifying the measures undertaken by the company alongwith compliance certificate received from Mr. Krishnan Iyer (Computer Consultant).

5. The figures relating to the previous year have been regrouped wherever necessary.