Notes to Accounts of ACE Edutrend Ltd.

Mar 31, 2024

k) Provision & Contingencies and Commitments

Provisions are recognized when the Company has a present obligation (legal or constructive) as
a result of a past event, and it is probable that the Company will be required to settle the
obligation, and a reliable estimate can be made of the amount of the obligation. The amount
recognized as a provision is the best estimate of the consideration required to settle the present
obligation at the end of the reporting period, taking into account the risks and uncertainties
surrounding the obligation

A disclosure for contingent liabilities is made where there is a possible obligation 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 entity.

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 entity.

Commitments include the amount of purchase order (net of advances) issued to parties for
completion of assets.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each
reporting period.

l) Provision for Gratuity

No provision for gratuity has been made as the provisions of Payment of Gratuity Act, 1972 are
not applicable.

2) Other Notes to Accounts

i. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances
are realizable in ordinary course of business and will not be less than the amount at which these
are stated in the balance sheet.

ii. Deferred Tax Asset for the year of Rs. -642909/- as per Ind AS 12 on Accounting for Taxes on
income pertaining to the timing between the accounting income and the taxable income has
been recognized by the management in the Profit & Loss Account.

For and on behalf of the Board of
For Asha & Associates, Directors of

M/s ACE Edutrend Limited

Chartered Accountants

Sd/- Sd/-

Monendra Srivastava Himani Sharma

Partner Managing Director, CFO Director

M.No. 096107 DIN: 07489845 DIN:08299061

FRN:024773N
UDIN:24096107BKFNHC2414

Place : New Delhi Sd/- Sd/-

Date : 28th May, 2024 Karan Jindal Sushm a Jain

Company Secretary Director

M. No.- A71387 DIN: 08545336

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Mar 31, 2014

1. Estimated amount of contracts remaining to be executed on Capital Account and not provided for NIL (Previous year NIL)

2. Provision for Taxation has been made after taking into consideration carried forward losses and in accordance with the provisions of Section 115JB of the Income Tax Act, 1961 (i.e. Minimum Alternate Tax Provisions).

3. No provision has been made for gratuity as none of the employees of the company has completed the eligible tenure of the services as per the provisions of the Gratuity Act.

4. Corresponding figures of previous year have been regrouped and/ or rearranged to confirm with this year''s grouping wherever found necessary.

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Mar 31, 2012

I) There's no change in any accounting policy during current year

Deferred Tax Liability in respect of Depreciation Rs. 25,74,738

Deferred Tax Assets in respect of Brought Forward

Losses and Tax Credit u/s 115JAA of the Income Tax Act, 1961 (i.e. Minimum Alternate Tax Provisions)

Deferred Tax Liability (Net Deferred Tax Assets) Rs. 25,74,738

The earnings considered in ascertaining the Company EPS comprises the net profit after tax and includes the post tax effect of any extra ordinary items. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year.

(1) Estimated amount of contracts remaining to be executed on Capital Account and not provided for NIL (Previous year NIL)

(2) Provision for Taxation has been made after taking into consideration carried forward losses and in accordance with the provisions of Section 115JB of the Income Tax Act, 1961 (i.e. Minimum Alternate Tax Provisions).

(3) No provision has been made for gratuity as none of the employees of the company has completed the eligible tenure of the services as per the provisions of the Gratuity Act.

(4) Corresponding figures of previous year have been regrouped and/ or rearranged to confirm with this year's grouping wherever found necessary.

(5) Expenditure in Foreign Currency: NIL

Notes forms an integral part of Accounts and have been duly authenticated.

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Mar 31, 2011

I) The Company has written off its leasehold assets of Rs. 17,40,008 due to of Obsolescence assets and no residual value is received from it.

ii) Depreciation policy has been changed by the Company due to more appropriate preparation or presentation of the financial statement. Depreciation on fixed assets is provided on Written Down Method instead of Straight Line Method in accordance with Section 205(2) (b) of the Companies Act, 1956, as per the rates specified in Schedule XIV to the Companies Act, 1956.

iii) The earnings considered in ascertatining the Company EPS comprises the net profit after tax and include the post tax effect of any extra ordinary items. The number of shares used in computing basic EPS is the weighted average number of shares outstanding during the year.

iv) Estimated amount of contracts remaining to be executed on Capital Account and not provided for NIL (Previous year NIL)

v) Provision for Taxation has been made after taking into consideration carried forward losses and in accordance with the provisions of Section 115JB of the Income Tax Act, 1961 (i.e. Minimum Alternate Tax Provisions).

vi) No provision has been made for gratuity as none of the employees of the company has completed the elegible tenure of the services as per the provisions of the Gratuity Act

vii) Related Party Disclosures:

Key Management Personnel:

- Mr. Sushil Aggarwal Chairman

- Mr. S.K. Das Whole Time Director

- Mr. Chander Prakash Batra Whole Time Director

viii) Corresponding figures of previous year have been regrouped and / or rearranged to confirm with this year’s grouping wherever found necessary.

ix) Expenditure in Foreign Currency : NIL

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Mar 31, 2010

(1) SEGMENT INFORMATION

The Company is engaged in the business of production and trading of media, entertainment and books, which constitutes a single business segment, and accordingly, disclosures are not required under AS-17, issued by The Institute of Chartered Accountants of India".

(2) INTANGIBLE ASSETS (under development)

Expenditure incurred during development stages for albums, serial, films and for purchase of Films under production are carried forward under the head Films & Albums.

(3) Estimated amount of contracts remaining to be executed on Capital Account and not provided for NIL (Previous year NIL)

(4) Provision for Taxation has been made after taking into consideration carried forward losses and in accordance with the provisions of Section 115JB of the Income Tax Act, 1961 (i.e. Minimum Alternate Tax Provisions).

(5) No provision has been made for gratuity as none of the employees of the company has completed the eligible tenure of the services as per the provisions of the Gratuity Act.

(6) Related Party Disclosures: :

Key Management Personnel:

- Mr. Ved Prakash Narula Managing Director

- Mr B. S. Goyal Director

7.Corresponding figures of previous year have been regrouped and/ or rearranged to confirm with this years grouping wherever found necessary.

8) Expenditure in Foreign Currency : NIL