1.05 PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provision involving substantial degree of estimation in measurement is recognized when there is a present obligation
as a result of past events and it is probable that there will be an outflow of resources. Contingent liabilities are not
recognized but are disclosed in the notes. Contingent assets are neither recognized nor disclosed in the financial
statements.
1.06 REVENUE RECOGNITION
Revenue comprises of revenue from providing skill development training services. Revenue is recognized as per the
terms of arrangements entered into with individual parties (service orders or service confirmations) and is recognized
when the performance obligation of an event is satisfied. Revenue is recognized only when it is reasonably certain
that the ultimate collection will be made.
1.07 TAXES ON INCOME
Income taxes are accounted for in accordance with Accounting Standard (AS-22) - “Accounting for taxes on
income”, notified under Companies (Accounting Standard) Rules, 2014. Income tax comprises of both current and
deferred tax.
Current tax is measured on the basis of estimated taxable income and tax credits computed in accordance with the
provisions of the Income Tax Act, 1961.
The tax effect of the timing differences that result between taxable income and accounting income and are capable
of reversal in one or more subsequent periods are recorded as a deferred tax asset or deferred tax liability. They are
measured using substantially enacted tax rates and tax regulations as of the Balance Sheet date.
Deferred tax assets arising mainly on account of brought forward losses and unabsorbed depreciation under tax laws,
are recognized, only if there is virtual certainty of its realization, supported by convincing evidence. Deferred tax
assets on account of other timing differences are recognized only to the extent there is a reasonable certainty of its
realization.
1.08 CASH AND CASH EQUIVALENTS
Cash and cash equivalents comprises Cash-in-hand, Current Accounts, Fixed Deposits with banks. Cash equivalents
are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid
investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of
changes in value.
1.09 EARNINGS PER SHARE
Basic earning per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of
extraordinary items, if any) by the weighted average number of equity share outstanding during the year. Diluted
earning per share is computed by dividing the profit/ (loss) after tax (including the post tax effect of extraordinary
items, if any) as adjusted for dividend, interest and other charges to expense or income (net of any attributable taxes)
relating to the dilutive potential equity shares, by the weighted average number of equity shares which could have
been issued on the conversion of all dilutive potential equity shares.
26. Additional Regulatory Information as per Para Y of Schedule III to Companies Act, 2013:
i. The Company does not have any immovable property (other than properties where the Company is the lessee and the
lease agreements are duly executed in favour of the lessee) whose title deeds are not held in the name of the company.
ii. The Company has not revalued its Property, Plant and Equipment.
iii. The Company has not granted loans or advances in the nature of loans are granted to promoters, Directors, KMPs
and the related parties (as defined under Companies Act, 2013,) either severally or jointly with any other person, that
are:
(a) repayable on demand or
(b) without specifying any terms or period of repayment
iv. The Company does not have any capital work-in-progress.
v. The Company has intangible assets under development and their ageing schedule is given below:
vi. No proceedings have been initiated or pending against the company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.
vii. The Company has borrowings from banks or financial institutions on the basis of security of current assets and
quarterly returns or statements of current assets filed by the Company with banks or financial institutions are in
agreement with the books of accounts.
viii. The company is not declared as wilful defaulter by any bank or financial institution or other lender.
ix. The company does not have any transactions with companies struck off under section 248 of the Companies Act,
2013 or section 560 of Companies Act, 1956
x. There are no charges or satisfaction yet to be registered with Registrar of Companies beyond the statutory period.
xi. The company does not have any investments and hence, compliance with the number of layers prescribed under
clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017 is not
applicable.
xii. Significant Accounting Ratios:
Reasons for Variation more than 25%:
a. Debt Equity Ratio:
In FY 23-24 Variation in ratio is Due to increase in revenue, Reserves for Shareholders Fund increased (i.e. Loss
Decreased).
b. Return-on-Equity Ratio:
In FY 23-24, Due to increase in revenue, return on equity increased (i.e. Loss Decreased)
c. Trade Payable turnover Ratio:
In FY 23-24, Variation arise , as there were not payble in Current year
d. Net Capital Turnover Ratio:
In FY 23-24 , Due to increase in revnue and vendor advances , we can see change in ratio
e. Net Profit Ratio:
In FY 23-24 , Due to increase in revenue , earning for Equity shareholder has increased ( i.e. Loss Decreased)
f. Return on Capital employed
In FY 23-24 ,Due to increase in revenue , earning for Equity shareholder has increased ( i.e. Loss Decreased)
g. Current Ratio
In FY 23-24, Variation in ratio is Due to increase in revenue , Reserves for Shareholders Fund increased( i.e. profit
during the year)
xiii. The Company does not have any scheme of arrangements which has been approved by the Competent Authority in
terms of sections 230 to 237 of the Companies Act, 2013.
xiv. A. No funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities
(“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall,
directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate
Beneficiaries”) by or on behalf of the Company or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
B. No funds have been received by the Company from any persons or entities, including foreign entities (“Funding
Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or
indirectly, lend or invest in other persons or entities identified in any manner whatsoever (“Ultimate Beneficiaries”)
by or on behalf of the Funding Parties or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
27. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's
classification / disclosure.
Signatures to Notes to the Financial
Statements For and on behalf of the Board of Directors
Sd/- Sd/-
Tulsiram Rawal
Non- Executive Non- Roshan Kumar Rawal
Independent Director Managing Director & CFO
(DIN: 08658055) (DIN: 08658054)
Sd/-
Supriya Kabra
(Company Secretary)
ACS 38656
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