Notes to Accounts of Ajwa Fun World & Resorts Ltd.

Mar 31, 2025

o Provisions, Contingent liabilities and Contingent assets

A provision is recognised when the Company has a present obligation as a result of past event and it is probable that an outflow
3 Notes on Financial Statements

a The SSI status of the creditors is not known to the Company; hence the information is not given.
b Salaries includes director''s remuneration on account of salary only.

_c Trade receivables, Trade payables, Loans & Advances and Unsecured Loans have been taken at their book value subject to
confirmation and reconciliation.

^e Loans and Advances are considered good in respect of which company does not hold any security other than the personal
guarantee of persons.

^f No provision for retirement benefits has been made, in view of accounting policy No. 11. The impact of the same on Profit &
Loss is not determined.

l There is no import transactions during the year
m No transactions in foreign currenty were undertaken

ⁿ The title deeds of immovable properties (other than properties where the Company is the lessee and the lease agreements are
duly executed in favour of the lessee) are held in the name of the Company.

o The Company does not have any Investment Property

q There are no Intangible Assets under development as on 31 March 2024

r Transactions (prohibition) Act, 1988 (45 of 1988) and the rules made thereunder.

s The Company is not declared Willful Defaulter by any Bank or Financial Institution or Other Lender.

^t The Company has advanced Rs. 2,50,000/- to Ranjit Holding Pvt Ltd which is struck off under section the companies act, 2013 or
section 560 of companies act, 1956.

^u No Charges or satisfaction of charges are yet to be registered with registrar of companies beyond the statutory period as on 31
March 2024.

^v The Company has complied 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.

^w No Scheme of arrangements has been approved by the competent authority in terms of sections 230 to 237 of the Companies
Act, 2013.

x The Company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources or
kind of funds) to any other person(s) or entity(ies), 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 to or on behalf of the ultimate beneficiaries.

y The Company has not received any fund from any person(s) or entity(ies), including foreign entities (funding party 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 party or provide
any guarantee, security or the like on behalf of the ultimate beneficiaries.

z No Transactions has been surrendered or disclosed as income during the year in the tax assessment under the income tax act,
1961. There are no such previously unrecorded income or related assets.

aa The Company is not covered under section 135 of the Companies act Corporate Social Responsibility (CSR).
ab The Company has not traded or invested in Crypto Currency or Virtual Currency during the financial year.
ac Previous year figures have been regrouped/rearranged wherever necessary.

As per our report of even date

For S P V P & Co. For and on behalf of the Board of

Chartered Accountants AJWA FUN WORLD AND RESORT LIMITED

Firm''s Registration No. 155159W

CA. Jitendra C. Patel RAJESH C. JAIN RAHIL R. JAIN CS KOSHA

ANILBHAI SHAH

Partner CHAIRMAN & MD DIRECTOR CS

Membership No. 129067 00285542 02300673 m.No - A61559

UDIN: 25129067BMINUM7422

Place: Vadodara Place: Vadodara

Date: 29 May 2025 Date: 29 May 2025

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Mar 31, 2024

12. Provisions, Contingent Liabilities and Contingent Assets:- (AS-29)

Provisions are recognized only when there is a present obligation as a result of past events and when
a reliable estimate of the amount of the obligation can be made.

Contingent Liabilities is disclosed in Notes to the account for:-

(i) Possible obligations which will be confirmed only by future events not wholly within the control
of the company or

(ii) Present Obligations arising from past events where it is not probable that an outflow of resources
will be required to settle the obligation or a reliable estimate of the amount of the obligation
cannot be made.

Contingent assets are not recognized in the financial statement since this may result in the
recognition of the income that may never be realized.

General:

Except wherever stated, accounting policies are consistent with the generally accepted accounting
principles and have been consistently applied.

(B) Notes on Financial Statements

1. The SSI status of the creditors is not known to the Company; hence the information is not given.

2. Salaries includes director''s remuneration on account of salary only.

3. Trade receivables, Trade payables, Loans & Advances and Unsecured Loans have been taken at their
book value subject to confirmation and reconciliation.

5. Loans and Advances are considered good in respect of which company does not hold any security
other than the personal guarantee of persons.

6. No provision for retirement benefits has been made, in view of accounting policy No. 11. The impact
of the same on Profit & Loss is not determined.

7. Advance to others includes advances to concerns in which directors are interested (Rs. in Lacs)

• The title deeds of immovable properties (other than properties where the Company is the lessee
and the lease agreements are duly executed in favour of the lessee) are held in the name of the
Company.

• The Company does not have any Investment Property

• The Company has not revalued its Property, Plant and Equipment (including Right-of-Use Assets)
and Intangible Assets.

• There are no Loans or Advances in the nature of loans that are granted to Promoters, Directors,
KMPs and their Related Parties (as defined under Companies act, 2013), either severally or
jointly with any other person, that are outstanding as on 31 March 2024:

o Repayable on Demand; or

o Without specifying any terms or period of repayment

• Capital Work in Progress ageing schedule: Refer in Note

• There are no Intangible Assets under development as on 31 March 2024

• 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.

• The Company is not declared Willful Defaulter by any Bank or Financial Institution or Other
Lender.

• The Company has not undertaken any transactions with Companies struck off under section

the companies act, 2013 or section 560 of companies act, 1956.

• No Charges or satisfaction of charges are yet to be registered with registrar of companies
beyond the statutory period as on 31 March 2024.

• The Company has complied 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.

• No Scheme of arrangements has been approved by the competent authority in terms of sections
230 to 237 of the Companies Act, 2013.

• The Company has not advanced or loaned or invested funds (either borrowed funds or share
premium or any other sources or kind of funds) to any other person(s) or entity(ies), 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 to or on behalf of the ultimate
beneficiaries.

• The Company has not received any fund from any person(s) or entity(ies), including foreign
entities (funding party) 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 party or provide
any guarantee, security or the like on behalf of the ultimate beneficiaries.

• No Transactions has been surrendered or disclosed as income during the year in the tax
assessment under the income tax act, 1961. There are no such previously unrecorded income or
related assets.

• The Company is not covered under section 135 of the Companies act Corporate Social
Responsibility (CSR).

• The Company has not traded or invested in Crypto Currency or Virtual Currency during the
financial year.

16. Previous year figures have been regrouped/rearranged wherever necessary.

Signature to notes 1 to 19

In terms of Our Separate Audit Report of Even Date Attached.

For Aalap Parikh & Associates For AJWA FUN WORLD AND RESORTS LTD

Chartered Accountants

CA Alok Patel Rajesh C Jain Rahil R. Jain

Membership No.163903 Chairman & Managing Director

Registration No. 147728W Director

Place: - Vadodara DIN : 00285542 DIN : 02300673

Date: - 29.05.2024

UDIN:24163903BKBKVS3439

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Mar 31, 2014

Note-1

As at 31st As at 31st MARCH 2014 MARCH 2013

Contingent liabilities and commitments (to the extent not provided for) Rs Rs

(i) Contigent Liablities

(a) Claims against the company not acknowledged as debt 1,95,070.00 1,95,070.00

(b) Gurantees - -

(c) Other money for which the company is contingently liable - -

1,95,070.00 1,95,070.00

(ii) Commitments

(a) Estimated amount for contracts remaining to be executed - - on capital account and not provided for

(b) Uncalled liablity on shares and other investments partly paid - -

(c) Other commitments (specify nature) - -

1,95,070.00 1,95,070.00



A Corporate Information

Ajwa Fun World & Resort Ltd. is a Public Limited Company By Shares Incorporated On 16/09/1992 engaged in the business of Entertainment sector by installing the facilities of rides & other entertainment devices at its park near Vadodara. The Company has diversified into infrastructure projects, Construction of Residential and Commercial Complexes.

Additional Information

01. The company has disclosed Business segment as Primary segment, segments have been identified taking into account the nature of products, the differing risks and returns, the organisational structure and internal reporting system. The company''s operations predominantly relate to Entertainment Industry at Vadodara which comprising Amusement Park, Water Park, Resort and Restaurant & construction Industry at Indore.

02. Segment Revenue, segment Results, Segment Assets and Segment Liability includes the respective amounts identifiable to each of the segment as also amount allocated on reasonable basis. The expenses, which are not directly related to the business segment are shown as unallocated Expenses'' and Income not directly related to the business segment ate shown as External revenue''. Assets and liability that cannot be allocated between the segments are shown as unallocated corporate Assets and Liability respectively.

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Mar 31, 2013

Note 1

As at 31st MARCH 2013 As at 31st MARCH 2012

Contingenl liabilities and commitments (extent not provided for)

(i) ConUgent LiabHtios

{a) Claims against the company not acknowledged as debt 1,95.070.00 31.&3.655.00

{b) Gurantees

{ej Oilier money for which the company is contingently liable

1,95,070.00 31,65,655.00





(a) Estimated tmount tat contacts remaking to be- exetul&o'' capMal account and not provided for

(b) Uncall&d hablity on shares and olfier investments partly paid —

(t) Oilier commitments (specify nature)

Information

Ajwa Fur* World & Resort Ltd. Is a Public Limited Company By Shares Incorporated On l6/fl9f t&92 engaged in the business of Entertainment sector by installing 1he facilities of rides & other entertainment devices at its park near Vadodara. The Company has diversified into infrastructure projects. Const*uotion of Residential and Commercial Complexes.

2 Other Disclosure

A Figures of Pre vidua year have been regrouped V recast wherever necessary Id make them comparable with the figures of Vie Currant year.

B The company lias not provided for the gratuity liability as wall as employees'' oirer retirement benefits trough :t shuuId have provided for the same In line with the accounting standard made mandatory.

C Since the company Is following cash method of accounting: in this respect the liability in respect of gratuity Is not being worked out by

D Ho provision has been made for penalty and interest which may levied upon the Company for non deduction .¦ short deduction of TDS and delay default m remitting money to various authorities because the amount is not ascertainable as on the dale of Balance Sheet. The same shall be accounted for as and when levied by such authorities.

3 Balance due to or due from parties/ banks from whom confirmations are not received are subject to adjustment on receipt of necessary confirmations.

4 LOAMS A ADDUCES INCLUDE THE FOLLOWING:

Rs.4,25.3S4/- given as loan to M/s. Mahavir Estate Put Ltd. Maximum outstanding during the year Rs. 4.25,334)-. (Previous year both amount are R6.4.l2.fl§47-)

(All these companies are under the same management as defined Lire 370 1(B) of the Companies Act, 1S56.J

5 Directors'' Remuneration (Current year as well as previous year) represents Directors salary only.

6 The Inventory of stores includes stocks of Stores. Spares, and Restaurant Items etc. and is stated In the Balance Sheet as taken, valued and certified by the management.

7 COHTIHSEHT LIABILITIES;

I. Demand rose by the Gujarat Electricity Board for Rs.l.SS.QW- towards Installation charges and interest bul contested by the company.

The Income Tax and Sales Tax assessments fur the AssL Year 2005-W end onwards and financial year 2004-05 respectively are yet tea made by the concerned authorities.

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Mar 31, 2012

1 Corporate Information

Ajwa Fun Worid & Resort Ltd. is a Public Limited Company By Shares Incorporated On 16/09/1992 engaged in the business of entertainment by installing the facilities of rides & other entertainment devices as its park near Vadodara with resumption of the operation of Water Park . The Company has diversified into infrastructure projects, construction of complexes also.

2 LOANS & ADVANCES INCLUDE THE FOLLOWING:

Rs.4,12,894/- given as loan to M/s. Mahavir Estate Pvt. Ltd. Maximum outstanding during the year Rs. 4,12,894/-. (Previous year both amount are Rs.3,78,387/-)

[All these companies are under the same management as defined U/s 370 1(B) of the Companies Act, 1956.]

a Directors'' Remuneration (Current year as well as previous year) represents Directors salary only.

b The Inventory of stores includes stocks of Stores, Spares, and Restaurant Items etc. and is stated in the Balance Sheet as taken, valued and certified by the management.

c CONTINGENT LIABILITIES:

i. Disputes not acknowledged as debt by the company for Rs.29,88,583/-

ii. Demand rose by the Gujarat Electricity Board for Rs.1,95,070/- towards installation charges and interest but contested by the company.

d The company has been advised by experts that due to business loss and claim of depreciation as per the provisions of she Income lax Act, 1961 the company does not have any tax liability for the current financial year ana therefore no provision for Income Tax has been made. Also, due to carried forward depreciation and business loss as per the provisions of Income Tax Act, 1961, there is no need to provide any deferred Tax liability under Accounting Standard 22 (AS 22).

e The income Tax and Sales Tax assessments for the Asst. Year 2005-06 and onwards and financial year 2004-05 respectively <.ve yet too made by the concerned authorities.

f RELATED PARTY TRANSACTIONS

Related Parties with whom the Company had transactions.

1. ASSOCIATES :

A AJWA FINANCE LTD

B. SRJ PROJECTS PVT LTD

C. MAHAViR ESTATE PVT.LTD.

D UNO JE CONSTRUCITON PVT.LTD

2. KEY PERSONA!.:

A. Shn Rajesh C. Jam ( C.M.D)

B. Rahil R. Jam.

3. Relatives of Key Managerial Personal :

A. Sml Vijaybaia R. Jain

B. Rajesh C. Jain (H.U.F.)

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Mar 31, 2011

1. Figures of Previous year have been regrouped/recast wherever necessary to make them comparable with the figures of the Current year.

2. The company has not provided for the gratuity liability as well as employees'' other retirement benefits though it should have provided for the same in line with the accounting standard made mandatory.

Since the company is following cash method of accounting in this respect, the liability in respect of gratuity is not being worked out by it.

3. No provision has been made for penalty and interest which may be levied upon the Company for non deduction/short deduction of TDS and delay/default in remitting money to various authorities because the amount is not ascertainable as on the date of Balance Sheet. The same shall be accounted for as and when levied by such authorities.

4. Balance due to or due from parties/ banks from whom confirmations are not received are subject to adjustment on receipt of necessary confirmations including balance with,

5. LOANS & ADVANCES INCLUDE THE FOLLOWING :

1. Rs.3,78,387/- given as loan to M/s. Mohair Estate Pvt. Ltd. Maximum outstanding during the year Rs.3,78,387/- (Previous year both the amounts are Rs.3,78,387/-)

[All these companies are under the same management as defined U/s 370 1(B) of the Companies Act, 1956.)

6. Directors'' Remuneration (Current year as well as previous year) represents Directors salary only.

7. The Inventory of stores includes stocks of Stores, Spares, Restaurant Items etc and is stated in the Balance Sheet as taken, valued and certified by the management.

8. CONTINGENT LIABILITIES :

i. Disputes not acknowledged as debt by the company for Rs.29,88,583/-

ii. Demand raised by the Gujarat Electricity Board for Rs. 1,95,070/- towards installation charges and interest but contested by the company.

9. The company has been advised by experts that due Id business loss and claim of depreciation as per the provisions of the Income Tax Act, 1961, the company does not have any tax liability for the current financial year and therefore no provision for Income Tax has been made. Also due to carried forward depreciation and business loss as per the provisions of Income Tax Act, 1961, there is no need to provide any Deferred Tax liability under Accounting Standard 22 (AS 22).

10. The Income Tax and Sales Tax assessments for the Asst. Year 2005-06 and onwards and financial year 2004-05, respectively are yet to made by the concern authorities.

11. The investments made by the Company are not held in its own name though required as per the provisions of section 49 of the Companies Act, 1956.

12. The company has not provided for the diminution in the value of iong term investments as the same is being held in unquoted investments. Hence the company is stating the investment at cost, the same method of accounting has been continued.

13. RELATED PARTY TRANSACTIONS:

Related Parties with whom the Company had transactions.

1. ASSOCIATES:

1. Ajwa Finance Ltd.

2. S R J Projects Pvt.Ltd.

3. Mahavir Estate Pvt.Ltd.

4. Unique Construction Pvt.Ltd.

2. Key Personal:

1. Shri Rajesh C Jain (C.M.D.)

2. RahiiR.Jain

3. Relatives of Key Managerial Personal:

1, Smt.Vijaybaia R Jain

14. Figures are rounded off to the nearest rupee.

15. Additional information pursuant to the provisions of paragraphs 3 & 4 in part II of the Schedule VI of the Companies Act, 1956.

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Mar 31, 2010

1. Figures of Previous year have been regrouped/recast wherever necessary to make them comparable with the figures of ihe Current year.

2. The company has not provided for the gratuity liability as well as employees other retirement benefits though it should have provided for the same in line with the accounting standard made mandatory.

Since the company is following cash method of accounting in this respect, the liability in respect of gratuity is not being worked out by it.

3. No provision has been made for penalty and interest which may be levied upon the Company for non deduction/short deduction of TDS and delay/default in remitting money to various authorities because the amount is not ascertainable as on the date of Balance Sheet. The same shall be accounted for as and when levied by such authorities.

4. Balance due to or due from parties/ banks from whom confirmations are not received are subject to adjustment on receipt of necessary confirmations including balance with.

5. LOANS & ADVANCES INCLUDE THE FOLLOWING:

1. Rs.3,52,116/- given as loan to M/s.Mahavir Estate FM. Ltd. Maximum outstanding during the year Rs.3,52,116/-. (Previous year both the amounts are Rs.3,52,116 /-)

[Alt these companies are under the same management as defined U/s 3701 (B) of the Companies Act, 1956.]

6. Directors Remuneration (Current year as well as previous year) represents Directors salary only.

7. The Inventory of stores includes stocks of Stores, Spares, Restaurant Items etc. and is stated in the Balance Sheet as taken, valued and certified by the management.

8. CONTINGENT LIABILITIES:

i. Disputes not acknowledged as debt by the company for Rs. 19,46,655/-

ii. Demand raised by the Gujarat Electricity Board for Rs.1,95,070/- towards installation charges and interest but contested by the company.

9. The company has been advised by experts that due to business loss and claim of depreciation as per the provisions of the Income Tax Act, 1961, the company does not have any tax liability for the current financial year and therefore no provision for Income Tax has been made. Also due to carried forward depreciation and business loss as per the provisions of Income Tax Act, 1961, there is no need to provide any Deferred Tax liability under Accounting Standard 22 (AS 22).

10. The Income Tax and Sales Tax assessments for the Asst. Year 2005-06 and onwards and financial year 2004-05, respectively are yet to made by the concern authorities.

11. The investments made by the Company are not held in its own name though required as perthe provisions of section 49 of the Companies Act, 1956.

12. The company has not provided for the diminution in the value of long term investments held by it though it is required to do so as per the accounting standard eing made mandatory. Since the Company is stating the investments at cost, the same method of accounting has been continued. The diminution in the value of investments of the Company as at 31.3.2009 is Rs. 92,06,840.20

13. RELATED PARTY TRANSACTIONS:

Related Parties with whom the Company had transactions.

1. ASSOCIATES:

LAjwa Finance Ltd. 2.SR J ProjectsPvt.Ltd.

3. Mahavir Estate Pvt.Ltd.

4. Unique Construction Pvt.Ltd.

2. Key Personal:

1. Shri Rajesh C Jain (C.M.D.)

2. Rahil R.Jain

3. Relatives of Key Managerial Personal:

1. Smt.VijaybalaRJain

14. Figures are rounded off to the nearest rupee.

15. Additional information pursuant to the provisions of paragraphs 3 & 4 in part II of the - Schedule VI of the Companies Act, 1956.