Notes to Accounts of Goldcoin Health Foods Ltd.

Mar 31, 2024

(viii) Provisions, contingent liabilities and contingent assets

Provisions are recognised at present value when the Company has a present obligation (legal or constructive) as a result of a 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. The expense relating to a provision is presented in the statement
of profit and loss net of any reimbursement. Provisions are not recognised for future operating losses.

Where there are number of similar obligations, the likelihood that an outflow will be required in settlement is determined by
considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any
one item included in the same class of obligations may be small.

The measurement of provision for restructuring includes only direct expenditure arising from the restructuring, which are both
necessarily entailed by the restructuring and not associated with the ongoing activities of the company

(ix) Off Setting Financial Instruments

Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet when, and only when, there
is a legally enforceable right to offset the recognized amount and there is intention either to settle on net basis or to realize the
assets and to settle the liabilities simultaneously The legally enforceable right must not be contingent on future events and must
be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the Company or
counterparty.

(x) Cash and Cash Equivalents

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, other short term,
highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash
and which are subject to an insignificant risk of changes in value, and bank overdrafts. Bank overdrafts are shown within
borrowings in current liabilities in the balance sheet.

(xi) Trade Receivables

Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest
method.

(xii) Trade and Other Payables

These amounts represent liability for goods and services provided to the Company prior to the end of financial year which are
unpaid. The amounts are unsecured and are usually paid within 90 days of recognition. Trade and other payables are presented as
current liabilities unless payment is not due within 12 months after the reporting period. They are recognized initially at fair
value and subsequently measured at amortized cost using the effective interest rate method.

(b) Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily
derecognized (i.e. removed from the Company’s balance sheet) when:

A. The contractual rights to the cash flows from the financial asset have expired, or B. The Company has transferred its
rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without
material delay to a third party under a ‘pass-through’ arrangement; and either

i) The Company has transferred substantially all the risks and rewards of the asset, or

ii) The Company has neither transferred nor retained substantially all the risks and rewards of the asset, but has
transferred control of the asset.

When the Company has transferred its rights to receive cash flows from an asset or has entered into a pass-through
arrangement, it evaluates if and to what extent it has retained the risks and rewards of ownership. When it has neither

transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the
Company continues to recognize the transferred asset to the extent of the Company’s continuing involvement In that
case, the Company also recognizes an associated liability. The transferred asset and the associated liability are measured
on a basis that reflects the rights and obligations that the Company has retained.

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the
original carrying amount of the asset and the maximum amount of consideration that the Company could be required to
repay.

(c) Impairment of financial assets

The Company assesses impairment based on expected credit loss (ECL) model to the following:

A. Financial assets measured at amortized cost B. Financial assets measured at fair value through other comprehensive
income

Expected credit losses are measured through a loss allowance at an amount equal to:

A. The 12-months expected credit losses (expected credit losses that result from those default events on the
financial instrument that are possible within 12 months after the reporting date); or

B. Full time expected credit losses (expected credit losses that result from all possible default events over the life of
the financial instrument)

The Company follows "simplified approach’ for recognition of impairment loss allowance on trade receivables. It
recognizes impairment loss allowance based on lifetime ECLs at each reporting date, right from its initial recognition.
The Company uses a provision matrix to determine impairment loss allowance for trade receivables. The provision
matrix is based on its historically observed default rates over the expected life of the trade receivable and is adjusted for
forward looking estimates. At every reporting date, the historical observed default rates are updated and changes in the
forward-looking estimates are analyzed.

For recognition of impairment loss on other financial assets and risk exposure, the Company determines that whether
there has been a significant increase in the credit risk since initial recognition. If credit risk has not increased significantly,
12-months ECF is used to provide for impairment loss. However, if credit risk has increased significantly, lifetime ECF
is used. If, in a subsequent period, credit quality of the instrument improves such that there is no longer a significant
increase in credit risk since initial recognition, then the Company reverts to recognising impairment loss allowance based
on 12-months ECL.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the
statement of profit and loss. The balance sheet presentation for various financial instruments is described below:

A. Financial assets measured as at amortised cost and contractual revenue receivables - ECL is presented as an
allowance, i.e., as an integral part of the measurement of those assets in the balance sheet. The allowance reduces
the net carrying amount. Until the asset meets write-off criteria, the company does not reduce impairment
allowance from the gross carrying amount. Management has recognized 14.97 Lakhs ECL impairment Loss in
Profit and Loss Account.

B. Financial assets measured at FVOCI - Since financial assets are already reflected at fair value, impairment
allowance is not further reduced from its value. Rather, ECL amount is presented as accumulated impairment
amount in the OCI.

For assessing increase in credit risk and impairment loss, the Company combines financial instruments on the basis of
shared credit risk characteristics with the objective of facilitating an analysis that is designed to enable significant
increases in credit risk to be identified on a timely basis.

(xvi) Financial Liabilities

a) Initial recognition and measurement

All financial liabilities are recognised initially at fair value and, in case of loans and borrowings and payables, net of
directly attributable transaction costs.

Subsequently, all financial liabilities are measured at amortised cost or at fair value through profit or loss. The Company’s
financial liabilities include trade and other payables, loan and borrowings including bank overdrafts.

b) Subsequent measurement

A. Financial liabilities measured at amortised cost

B. Financial liabilities subsequently measured at fair value through profit or loss Financial liabilities at fair value
through profit or loss include financial liabilities held for trading and financial liabilities Financial liabilities
designated upon initial recognition at fair value through profit or loss are designated as such at the initial date of
recognition, and only if the criteria in Ind AS 109 are satisfied. For liabilities designated as FVTPF, fair value
gains/ losses attributable to changes in own credit risk are recognized in OCT. These gains/ losses are not
subsequently transferred to profit or loss. However, the Company may transfer the cumulative gain or loss within
equity. All other changes in fair value of such liability are recognised in the statement of profit or loss. The
Company has not designated any financial liability as at fair value through profit or loss.

c) Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms,
or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the
derecognition of the original liability and the recognition of a new liability. The difference in the respective
carrying amounts is recognized in the statement of profit or loss.

(xvii)Fair Value \

The Company measures certain finaneial instruments at fair value at each balance sheet date. The fair value measurement is based
on the presumption that the transaction to sell the asset or transfer the liability takes place either:

A. In the principal market for the asset or liability, or

B. In the absenee of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the Company. The fair value of an asset or a liability is
measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market
participants act in their best economic interest.

The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair
value hierarchy, described as under, based on the lowest level input that is significant to the fair value measurement as a whole:

A. Level 1 - Quoted (unadjusted) market prices in active markets for identical assets or liabilities.

B. Level 2 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable.

C. Level 3 - Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable.

For assets and liabilities that are recognized in the financial statements on a recurring basis, the Company determines whether
transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest level input that is
significant to the fair value measurement as a whole) at the end of each reporting period.

This note summarizes the accounting policy for fair value. Other fair value related disclosures are given in the relevant notes.

Details ot foreign exchange mentioned above are certified and provided by the Management of the company.

(xix) As certified by the company that it was received written representation from all the directors, that companies in which they are
directors had not defaulted in terms of section 164(2) of the companies Aet, 2013, and the representation from directors taken
in Board that Director is disqualified from being appointed as Director of the company.

(xx) Contributed Equity

Equity shares are classified as equity.

(a) Earnings per Share

Basic earnings per share is calculated by dividing:

-the profit attributable to the owners group

-by the weighted average number of equities shares outstanding during the year.

(b) Rounding off amounts

All amounts disclosed in the financial statements and notes have been rounded off to the nearest lacs as per the
requirement of Schedule III, unless otherwise stated.

For and on behalf of the board of directors As per our attached report of even date

For, Goldcoin Health Foods Limited For, V S S B & Associates

Chartered Accountants
Firm No. 121356W

Devang Shah Niraj Baid Pravinaben D Gohil (Vishves A Shah)

Managing Director & CEO Company Secretary Director (Partner)

(DIN: 00633868) (DIN: 09279658) M No:-109944

UDIN: 23109944BGTKEL9759

Date: ll^tt May, 2024
Place: Ahmedabad

---

Mar 31, 2015

(i) Balance of cash on hand at the end is accepted as certified by the management of the company

(ii) The figures of the previous year are taken as it is from the report of the previous auditor.

(iii) Balance of Sundry Debtors, Creditors, unsecured loans, Loans & advances are subject to confirmation of the parties.

(iv)- Previous year figures

The figures of the previous year have been re-arranged, re-grouped and re- classified wherever necessary.

---

Mar 31, 2014

1. (i) Balance of cash on hand at the end is accepted as certified by the management of the company

(ii) The figures of the previous year are regrouped or rearranged wherever it is necessary.

(iii) Investments are unquoted and stated at cost. Income from Investment is accounted for when received.

(iv) Balance of Sundry Debtors, Creditors, unsecured loans, Loans & advances are subject to Confirmation of the parties.

2. (a) Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares including restrictions on the distribution of dividends and repayment of capital.

i) The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity Share is entitled to one vole per share. The Company declares and pays dividend in Indian Rupees. During the year ended 31st March 2014. the Company has not declared any dividend

ii) In the event of liquidation of the Company, the holders of Equity shares will be emitted to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity shares held by the shareholders.

(b) Detailed note on shares reserved to be issued under options and contracts / commitment for the sale of shares / divestments including the terms and conditions.

The company does not have any such contract / commitment as on reporting date.

(c) Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc.

The company does not have any securities convertible into shares as on reporting date.

Note 3- Previous year figures

The figures of the previous year have been re-arranged, re -grouped and re- classified wherever necessary.

---

Mar 31, 2013

1.(i)Balance of cash on hand at the end is accepted as certified by the management of the company

(ii) The figures of the previous year are regrouped or rearranged wherever it is necessary.

(iii) Investments are unquoted and stated at cost. Income from Investment is accounted for when received.

(iv) Balance of Sundry Debtors, Creditors, unsecured loans, Loans & advances are subject to confirmation of the parties.

(1) Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares including restrictions on the distribution of dividends and repayment of capital.

i) The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity Share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. During the year ended 31st March 2013, the Company has not declared any dividend.

ii) In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity shares held by the shareholders.

(2) Detailed note on shares reserved to be issued under options and contracts / commitment for the sale of shares / divestments including the terms and conditions.

The company does not have any such contract / commitment as on reporting date.

(3) Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc.

The company does not have any securities convertible into shares as on reporting date.

Note 4 - Previous year figures

The figures of the previous year have been re-arranged, re-grouped and re- classified wherever necessary.

---

Mar 31, 2012

1. Rights of Shareholders, Dividend and Repayment of Capital:

i) Each holder of equity shares ii entitled to cne vote per share, ii) as and when the company declares« and pays dividends it pays dividends in ndian rupees. Tha Companies Act. 1956 provides that any dividend be declared out of accumulated distributable promts only after the transfer to a general reserve of a specified percentage of net profit computed in accordance with current regulations.

ii) In the event of liquidation of the company, the holders of shares shall be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. The amount distributed will be in proportion to the number of equity shares held by the shareholders.

2. There were no shares reserved at the year end for issuance under options and contracts / commitments for the sale of Shares / disinvestment

3. The company has not issued any fully paid shares of any class for consideration otherwise than in cash or alloted bonus shares or bought back any shares since.

---

Mar 31, 2011

1. Contingent Liabilities etc.:

No provision has been made in respect of gratuity payable on death/retirement of employees as the same will be dealt with on cash basis. The liability on this account has not been ascertained.

2. Current Assets, Loans Advances :

In the opinion of the bored of Directors, the Current Assets, Loans and Advances have value on realization in the ordinary course of business, equal at least to the aggregate amount shown in the balance Sheet. subject to note no. 5

3. Previous Year figures :

Previous Year figures have been regrouped/re-arranged wherever necessary to make them comparable with those of current.

4. The company had made advances of Rs. 116.26 lacs for purchase of Capital goods. Neither the capital goods are purchased nor advances are refunded to the company. No provision has been made in accounts in respect of such doubtful advances.