Notes to Accounts of Ace Men Engg Works Ltd.

Mar 31, 2025

A provision is recognized when the company has a present obligation as a result of 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. Provisions are not
discounted to their present value and are determined based on best management estimate required
to settle the obligation at the balance sheet date. These are reviewed at each balance sheet date and
adjusted to reflect the current best management estimates.

A contingent liability is a possible obligation that arises from past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain future events beyond the
control of the company or a present obligation that is not recognized because it is not probable that
an outflow of resources will be required to settle the obligation. A contingent liability also arises in
extremely rare cases where there is a liability that cannot be recognized because it cannot be
measured reliably. The company does not recognize contingent liabilities but discloses it''s existence
in the financial statement. Contingent assets are neither recognized nor disclosed in the financial
statements.

P Employee Benefits:

Short term obligations:

Liabilities for wages and salaries, including earned leave and sick leave that are expected to be
settled wholly within 12 months after the end of the period in which the employees render the
related service are recognised in respect of employees'' services up to the end of the reporting period
and are measured by the amounts expected to be paid when the liabilities are settled. The liabilities
are presented as current employee benefit obligations in the balance sheet.

Retirement benefits

The Company has dissolved the Provident Fund Trust and is in the process of closure of the same
as there are no employees left other than the two Whole Time Directors and Chief Financial Officer.
The Company''s Superannuation Fund is administered through Life Insurance Corporation of India
and is recognised by the Income Tax Department. Company''s contribution to Superannuation Fund
for the year is charged against revenue. The Company has provided for Gratuity in Current Year for
the Two Wholetime Directors
Employee Separation Costs:

The compensation paid to the employees under Voluntary Retirement Scheme is expensed in the
year of payment.

Q Cash flow Statement

Cash flows are reported using the indirect method, whereby profit before tax is adjusted for the
effects of transactions of non cash nature and any deferrals or accruals of past or future cash
receipts or payments. The cash flows from operating, investing and financing activities of the
Company are segregated based on the available information.

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Mar 31, 2024

II. Debit and Credit balances are subject to confirmation and reconciliation.

III. There are no dues to Micro; Small & Medium Enterprises as at Balance Sheet date and no interest has been paid to any such parties. This is based on the information on such parties identified on the basis of information available with the Company and relied upon by the auditors.

19. Notes forming part of accounts in relation to Micro and small enterprise

1. Based on information available with the company, on the status of the suppliers being Micro or small enterprises, on which the auditors have relied, the disclosure requirements of Schedule III to the Companies Act, 2013 with regard to the payments made/due to Micro and small Enterprises are given below:

The company has initiated the process of obtaining the confirmation from suppliers who have registered themselves under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act, 2006) but has not received the same in totality. The above information is compiled based on the extent of responses received by the company from its suppliers.

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Mar 31, 2015

Not available

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Mar 31, 2014

(i) Previous year's figures have been regrouped/ re-arranged wherever necessary.

(ii) The company is listed on Calcutta stock Exchanges.

(iii) There is no contingent liability for the year under review.

(iv) There is no employee eligible for the benefit of gratuity hence no such provision is made.

(v) In the opinion of the Board and to the best of their knowledge and belief the value of realization of current assets in the ordinary course of business will not be less than the amount at which they are stated of business Balance sheet.

(vi) The company has no amount to be paid to micro small and medium Enterprises in according with provisions of micro small & medium Enterprise Development Act, 2006.

(vii) In terms of Accounting standard 20, the calculation of EPS is given below:

(a) Profit/ (Loss) after Taxation;- Rs,1,666.00

(b) Weighted Average number of Equity shares outstanding during the year:- 2,49,850 shares.

(c) Normal value of shares Rs 10/- shares

(d) Basic and Diluted EPS:- (Rs, 0.01

(viii) Accordance with the Accounting standard As-22 "Accounting Taxes on Income issued by the Instate of chartered Accountants of India Deferred Tax Asset is not created as a matter of prudence as there is not reasonably certainly of future profit.

(ix) As per information and explanation provided by the management there are no outstanding dues of SSI under takings are required by schedule VI of the coma pies Act, 1956.

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Mar 31, 2013

(i) Previous year's figures have been regrouped/ re-arranged wherever necessary.

(ii) The Company is listed on Calcutta Stock Exchange.

(iii) There is no Contingent Liability for the year under review.

(iv) There is no employee eligible for the benefit of gratuity; hence no such provision is made.

(v) In the opinion of the Board and to the best of their knowledge and belief, the value of realization of current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

(vi) The Company has no amount to be paid to Micro, Small and Medium Enterprises in accordance with provisions of Micro, Small & Medium Enterprises Development Act, 2006.

(vii) In terms of Accounting Standard 20, the calculation of EPS is given below:- (a) Profit/(Loss) after Taxation:- (Rs 555.00)

(b) Weighted Average number of Equity Shares outstanding during the year: - 2,49,850 shares.

(c) Normal value of shares:- Rs 10/ share

(d) Basic and Diluted EPS:- (Rs. 0.00) (viii) Accordance with the Accounting Standard AS-22 "Accounting for

Taxes on Income" issued by the Institute of Chartered Accountants of India, Deferred Tax Asset is not created as a matter of prudence as there is no reasonably certainty of future profit. (ix) As per information and explanation provided by the Management there are no outstanding dues of SSI undertakings as required by Schedule VI of the Companies Act, 1956

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Mar 31, 2012

SIGNATURES TO SCHEDULES ''1'' TO ''5''

In terms of our report of even date annexed herewith

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Mar 31, 2011

SIGNATURES TO SCHEDULES ''1'' TO ''5''

In terms of our report of even date annexed herewith.