Notes to Accounts of Colinz Laboratories Ltd.

Mar 31, 2024

1.15. Provisions, contingent liabilities,
contingent assets:

A provision is recognised when the Company
has a present obligation (legal or constructive)
as a result of past event and it is probable that an
outflow of resources will be required to settle

the obligation, in respect of which a reliable
estimate can be made. If the effect of time value
of money is material, provisions are discounted
using a current pre-tax rate that reflects, when
appropriate, the risk specific to the liability.
When discounting is used, the increase in the
provision due to the passage of time is
recognised as a finance cost. These are reviewed
at each balance sheet date and adjusted to
reflect the current best estimates.

A disclosure for a contingent liability is made
when there is a possible obligation or a present
obligation that may, but probably will not
require an outflow of resources. When there is a
possible obligation or a present obligation in
respect of which likelihood of outflow of
resources is remote, no provision or disclosure
is made.

The Company does not recognize a contingent
asset but discloses its existence in the financial
statements if the inflow of economic benefits is
probable. However, when the realisation of
income is virtually certain, then the related asset
is no longer a contingent asset, but it is
recognized as an asset.

Provisions, contingent liabilities, contingent
assets and commitments are reviewed at each
balance sheet date

1.17 Earnings per share:

Basic earnings per share are computed using
the net profit for the year attributable to the
shareholders'' and weighted average number of
shares outstanding during the year. Company
has not issued any compulsory convertible
preference shares or debentures. The weighted
average numbers of shares also include fixed
number of equity shares that are issuable on

conversion of compulsorily convertible
preference shares, debentures or any other
instrument, from the date consideration is
receivable (generally the date of their issue) of
such instruments. However, company has not
issued any compulsory convertible Preference
shares, Debentures or any other instruments as
on 31.03.2024.

Diluted earnings per share is computed using
the net profit for the year attributable to the
shareholder'' and weighted average number of
equity and potential equity shares outstanding
during the year.

1.18 Financial instruments:

A financial instrument is any contract that
gives rise to a financial asset of one entity and
a financial liability or equity instrument of
another entity. Financial assets and financial
liabilities are initially measured at fair value.
Transaction costs that are directly
attributable to the acquisition or issue of
financial assets and financial liabilities (other
than financial assets and financial liabilities
at fair value through profit or loss) are added
to or deducted from the fair value of the
financial assets or financial liabilities, as
appropriate, on initial recognition.
Transaction costs directly attributable to the
acquisition of financial assets or financial
liabilities at fair value through profit or loss
are recognized immediately in profit or loss.

2. OTHER ADDITIONAL INFORMATION

FORMING PART OF FINANCIAL STATEMENT

I. Contingent Liability

(a) Contingent Liability in connection with
Gratuity benefit as per actuarial valuation
towards future liability amounts to
Rs. 31,35,270/- Provided the same
employees remain in the company until
their retirement. The current liability of
Rs. 9.07 Lakhs has been provided in the
financial statement.

II. Capital Commitment: NIL

III. The outstanding balance of assets and
liabilities are accepted as they appear in the
books of accounts and are subject to
reconciliation / adjustments, if any, and
confirmation by respective parties.

IV. Segment Reporting:

The Company has one reportable business and
geographical segment and hence no further
disclosure is required under IND AS- 108 on
Segment Reporting.

V. Related Parties Disclosures under IND AS 24:

Dr. Mani L. S. - Director & CS

Shri N K Menon - Director

CA. Vasant Bhat - Independent Director

Shri A. Krishnakumar - Independent Director

Mrs. Vijaya Mani - Director''s relative

Bueno Healthcare P. L. - Related Party

VII. Previous year''s figures have been regrouped and recast wherever necessary to conform to the
current year classification.

FOR AND ON BEHALF OF THE BOARD

For VORA & ASSOCIATES
CHARTERED ACCOUNTANTS
(ICAI FRNo.: 111612W)

MAYUR A. VORA DR. MANI L. S. MR. N. K. MENON GANESH CHITTE

PARTNER DIRECTOR DIRECTOR & CEO CFO

(Membership No.: 030097) DIN NO. 00825886 DIN NO. 01111297

Place: Mumbai
Date: 29^th May,2024

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Mar 31, 2013

1.1) With regard to loan given to Company, the Board of Directors are of the opinion that, no provision for doubtful debt is required to be made as the amount being recovered in installments 1.18)Earning per share

The Company reports Earning Per Share (EPS) in accordance with Accounting Standard 20 on "Earning Per Share". Basic EPS is computed by dividing the net profit for the year by the weighted Average number of Equity Shares outstanding during the year. Diluted EPS is computed by dividing the net profit or loss for the year by the weighted average number of equity shares outstanding during the year as adjusted for the effects of all dilutive potential equity shares, except where the results are anti-dilutive. 1.19)Provisions for Current and Deferred Tax.

i) Provision for Current Tax is made after taking into consideration benefits admissible under the provision of Income Tax Act 1961.

ii) Deferred tax resulting from timing differences between taxable and accounting income is accounted for using the tax rate and laws that are enacted or substantively enacted as on the Balance Sheet date. The deferred tax asset arising on account of brought forward unabsorbed depreciation is recognized only to the extent there is a reasonable certainty of realization.

1.2) AS - 28 Impairment of Assets.

As on the Balance Sheet date the carrying amounts of the assets net of accumulated depreciation is not less than the recoverable amount of those assets. Hence there is no impairment loss on the assets of the company.

In the opinion of Board of Directors, the Current Assets, Loans and advances have a value which on the realization in the ordinary course of business would at least be equal amount stated in the Balance sheet.

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Mar 31, 2012

A The figures of previous year have been regrouped wherever necessary.

b As per the available records, there is no outstanding dues to enterprises registered under Micro, Small and Medium Enterprises Development Act, 2006, at the end of the year. Further, no interest has been paid or payable on delayed payment of dues, if any, to such enterprises during the year

c. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs.Nil [ Previous Year: Rs. Nil]

d. Contingent Liabilities:

Bills Discounted and Purchased - Rs. Nil (Previous Year Rs. Nil) Others - Rs. Nil (Previous Year Rs. Nil)

e. Segment Reporting

The Company is engaged in pharmaceutical formulation business which as per Accounting Standard - AS 17 is considered the only reportable business segment.

f Related party transaction

As required by Accounting Standard - AS 18 'Related Parties Disclosare issued by the Institute of Chartered Accountants of India are as follows :

(a) Key Management personnel (b) Details of Transactions.

(i) Dr. L. S. Mani. Remuneration paid Rs.8,40,500/-

Rent paid for the premise hired Rs. 1,80,000/-

g. Earning per share

As per Accounting Standard - AS 20 on 'Earning per Share' issued by the Institute of Chartered Accountants of India, the earning per share of the Company is Rs. 0.24.

h. Accounting for Taxes on Income.

In accordance with the AS-22, Accounting for Taxes on Income, issued by the Institute of Chartered Accountants of India, deferred tax resulting from timing differences between book and tax profits is accounted for, at the current rate of tax, to the extent the timing differences are expected to crystallize. The deferred tax asset arising on account of brought forward unabsorbed depreciation is recognized only to the extent there is a reasonable certainty of realization.

i. AS - 28 Impairment of Assets.

As on the Balance Sheet date the carrying amounts of the assets net of accumulated depreciation is not less than the recoverable amount of those assets. Hence there is no impairment loss on the assets of the company. In the opinion of Board of Directors, the Current Assets, Loans and advances have a value which on the realization in the ordinary course of business would at least be equal amount stated in the Balance sheet. 1. With regard to loan given to Company, the Board of Directors are of the opinion that no interest should be provided in the accounts as the principle amount has not been recovered, Further, no provision for doubtful debt is required to be made as the amount is expected to be recovered in due course.

j. The Share Capital includes 4,00,000 Equity Shares of Rs. 10/- each, allotted as fully paid Bonus Shares by capitalisation of Capital Reserves in 1994-95.

k. Additional information pursuant to the provisions of paragraph 3,4C and 4D of Part II of Schedule VI to the Companies Act, 1956, as certified by the Directors.

Quantitative and Turnover information for the year ending 31st March, 2012.

(Previous year figures are regrouped wherever necessary

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Mar 31, 2009

1 The figures of previous year have been regrouped wherever necessary

2 As per the available records, there is no outstanding dues to enterprises registered under Micro, Small and Medium Enterprises Development Act, 2006, at the end of the year Further, no interest has been paid or payable on delayed payment of dues, if any, to such enterprises during the year

3 Estimated amount of contracts remaining to be executed on capital account and not provided for: RsNil Previous Year : Rs Nil

4 Contingent Liabilities:

Bills Discounted and Purchased - Rs Nil (Previous Year Rs Nil )

Others - Rs Nil (Previous Year Rs Nil )

5 Segment Reporting

The Company is engaged in pharmaceutical formulation business which as per Accounting Standard - AS 17 is considered the only reportable business segment

6 Related party transaction

As required by Accounting Standard - AS 18 Related Parties Disclosure issued by the Institute of Chartered

Accountants of India are as follows :

(a) Key Management personnel (b) Details of Transactions

(i) Dr L S Mani Remuneration paid Rs6,14,500/- Rent paid for the premise hired Rs 1,14,000/- 10

Earning per share

As per Accounting Standard - AS 20 on Earning per Share issued by the Institute of Chartered Accountants of India, the earning per share of the Company is Rs002

7 Accounting for Taxes on Income

In accordance with the AS-22, Accounting for Taxes on Income, issued by the Institute of Chartered Accountants of India, deferred tax resulting from timing differences between book and tax profits is accounted for, at, the current rate of tax, to the extent the timing differences are expected to, crystallize The deferred tax asset arising on account of brought forward unabsorbed depreciation is recognized only to the extent there is a reasonable certainty of realization

8 AS - 28 Impairment of Assets

As on the Balance Sheet date the carrying amounts of the assets net of accumulated depreciation is not less than the recoverable amount of those assets Hence there is no impairment loss on the assets of the company In the opinion of Board of Directors, the Current Assets, Loans and advances have a value which on the realization in the ordinary course of business would at least be equal amount stated in the Balance sheet 13 With regard to loan given to Company, the Board of Directors are of the opinion that no interest should be provided in the accounts as the principle amount has not been recovered Further, no provision for doubtful debt is required to be made as the amount is expected to be recovered in due course

9 The Share Capital includes 4,00,000 Equity Shares of Rs 10/- each, allotted as fully paid Bonus Shares by capitalisation of Capital Reserves in 1994-95

10 Additional information pursuant to the provisions of paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956, as certified by the Directors Quantitative and Turnover information for the year ending 31st March, 2009