Notes to Accounts of Grandma Trading & Agencies Ltd.

Mar 31, 2024

6. provisions, contingent liabilities and contingent assets:

Provisions involving substantial degree of estimation in measurement are recognized at the
balance sheet date when:

a) There is a present obligation as an outcome of past events.

b) There is a probability that there will be an outflow of resources.

c) The amount of obligation can be reliably estimated.

Contingent Liabilities are not recognized but are disclosed in the notes in case of:

a) a present obligation arising from a past event, when it is not probable that an outflow of
resources will be required to settle the obligation or a reliable estimate of the amount of
obligation cannot be made.

b) a possible obligation arising from past events, the existence of which will be confirmed
only by the occurrence or non-occurrence of one or more uncertain future events not
within the control of the company.

7. INVESTMENTS:

Long term Investments are valued at cost. Provision for diminution in value of investment is
made to recognize a decline other than temporary.

Current Investments are valued at lower cost or fair market value.

8. INVENTORY VALUATION:

Stocks are valued at Cost or Net Realizable Value whichever is lower.

9. IMPAIRMENT OF ASSETS:

a) At each Balance Sheet date, the Company determines whether a provision should be made
for impairment loss on fixed assets by considering the indications that an impairment loss

may have occurred in accordance with Accounting Standard (AS)-28 "Impairment of
Assets".

b) After Impairment, depreciation is provided on the revised carrying amount of the assets.

c) A previously recognized impairment loss is increased or reversed depending on changes in
circumstances. However, the carrying value after reversal is not increased beyond the
carrying value that would have prevailed by charging usual depreciation if no impairment
loss had been recognized.

10. employee benefits

a) Liability towards Gratuity is considered as the defined benefit scheme and is recognized
based on actuarial valuation on projected unit credit method at balance sheet date.

b) Earned Leave which is encashable is considered as long-term benefit and is provided based
on actuarial valuation on projected unit credit method at balance sheet date.

c) The benefits in the form of contribution to Provident Fund and Employee State Insurance
are considered as the defined contribution schemes and are recognized based on the amount
paid or payable for the period during which services are rendered by the employees.

11. taxes on income:

Provision for income tax is made based on taxable income for the current year at current
rates.

Current Tax represents the amount of Income Tax payable in respect of the taxable income
for the reporting period as determined in accordance with the provisions of the Income Tax
Act, 1961.

12. CASH FLOW STATEMENT:

Cash flow statement is reported using the indirect method, whereby profit / loss before
extraordinary items and 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.

13. CASH & CASH EQUIVALENT:

Cash and cash equivalent includes cash on hand, and deposits maintained with banks
which can be withdrawn by the company at any point in time.

14. EARNING PER SHARE:

The Company reports basic and diluted Earnings Per Share (EPS) in accordance with
Accounting Standard 20 on "Earning Per Share". Basic EPS is computed using the weighted
average number of equity shares outstanding during the period. Diluted EPS is computed
using the weighted average number of equity and dilutive equity equivalent shares
outstanding during the year end.

2.18 Other Statutory Information:

1. The Company does not have any Benami property, where any proceeding has been initiated
or pending against the Company for holding any Benami property.

2. The Company does not have any immovable properties whose title deeds are not held in the
name of the Company.

3. The Company does not have any transactions with companies which are struck off.

4. The Company does not have any charge or satisfaction which is yet to be registered with
ROC beyond the statutory period.

5. The Company has not traded or invested in crypto currencies or Virtual Currency during the
financial year.

6. The Company has not advanced or loaned or invested funds to any other person(s) or
entity(ies), including foreign entity(ies), (intermediary) with the understanding that the
intermediary shall:

a. directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries), or

b. provide any Guarantee, Security, or the like to or on behalf of the Ultimate
beneficiaries.

7. The Company has not received fund from any person(s) or entity(ies), including Foreign
Entity(ies), (Funding Party) with the understanding (whether recorded in writing or
otherwise) that the Company shall:

a. directly or indirectly lend or invest in other persons or entities identified in any
manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries), or

b. provide any Guarantee, Security, or the like to or on behalf of the Ultimate
beneficiaries.

8. The Company does not have any such transaction which is not recorded in the books of
accounts that has been surrendered or disclosed as income during the period in the tax
assessments under the Income tax Act, 1961 (such as search or survey or any other relevant
provisions of the Income Tax Act, 1961.

9. The Company has complied with the number of layers prescribed under clause (87) of section
2 of the act read with the Companies (Restriction on Number of Layers) Rules, 2017.

10. The Company is not declared a willful defaulter by any bank or financial institution or lender
during the year.

11. Disclosure on Rule 11(e) of the Companies (Audit and Auditors) Rules 2014:

"The Company, as mentioned in its Memorandum of Association and Articles of Association
is engaged in nature of business(s) as described in Note 1 of Financial Statements. As part of
the nature of business above:

a. No funds have been advanced or loaned or invested (either from borrowed funds or
Share Premium or any other sources or kind of funds) by the Company to or in any
other person(s) or entity(ies), including foreign entity(ies), ("intermediaries") with the
understanding, whether recorded in writing or otherwise, that the intermediary shall
lend or invest in other persons or entities identified in any manner whatsoever by or
on behalf of the Company (Ultimate Beneficiaries) or provide any guarantee, security,
or the like to or on behalf of the Ultimate Beneficiaries.

b. The Company has not received fund from any person(s) or entity(ies), including
Foreign Entity(ies), (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 by or on behalf of the

Funding Party (Ultimate Beneficiaries), or provide any guarantee, security, or the like
to or on behalf of the Ultimate Beneficiaries.

12. SUNDRY DEBTORS AND RECEIVABLES:

Sundry Debtors and Loans and Advances are stated at the value if realized in the ordinary
course of business. Irrecoverable amounts, if any, are accounted and/or provided for as per
the management''s judgment or only upon final settlement of accounts with the parties. All
Sundry debtors/ Creditors and Loans and Advances are subject to confirmation.

2.19 IN THE OPINION OF THE DIRECTORS:

a. The Current Assets and Loans and Advances are approximately of the value stated in the
financial statement, if realized in the ordinary course of business.

b. The provision for depreciation and for all known liabilities is adequate and not more than the
amount reasonably necessary.

2.20 SEGMENT REPORTING:

The Company is engaged in the trading of products of the same type/class and has no
overseas operations/units and as such there is no reportable segment as per Accounting
Standard (AS-17) dealing with segment reporting.

2.24 Reporting under Schedule V of SEBI (LODR), 2015, is not applicable to the company, as the
Company does not have subsidiary or associates as defined under section 186 of the
Companies Act, 2013 and no loans and advances are given which is outstanding for a period
of more than seven years.

2.25 Details of Companies as required to be given under section 186(4) of the Companies Act, 2013
form part of the financial statements.

2.26 FOREIGN CURRENCY EXPOSURE:

Earnings and expenditure in foreign currency during the current and previous financial year -
NIL

2.28 There was no amount due as on 31st March 2024 as reported to us from/ to Micro, small &
Medium Enterprises as per MSMED Act, 2006.

2.29 There is no amount due and outstanding to be credited to Investors Education & Protection

Fund.

2.30 The previous year''s figures have been regrouped and rearranged wherever necessary to make

in compliance with the current financial year.

For: Singhvi & Sancheti

Chartered Accountants For and on behalf of Board of Directors

Firm''s Registration No.: 110286W

Sd/- Sd/- Sd/-

HM Sancheti Abhishek Ashar Manoj Mishra

Partner Wholetime Director & CFO Director

M. No.: 043331 DIN: 08565712 DIN: 03070781

Place: Mumbai Sd/-

Date: 30/05/2024 Sonal Nakum

UDIN: 24043331BKCTXQ5798 Company Secretary

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Mar 31, 2016

1. MICRO, SMALL & MEDIUM ENTERPRISES

There was no amount due as on March 31, 2016 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

2. CASH & CASH EQUIVALENT:

Cash and cash equivalent includes cash on hand, and deposits maintained with banks which can be withdrawn by the company at any point of time.

3. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.01 (Previous year Rs.0.01).

4. CONTINGENT LIABILITIES: NIL

5. RELATED PARTIES DISCLOSURE:

There are following transaction as reported with any key managerial persons and with any of the Enterprises owned and controlled by Key management persons.

6. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

7. Foreign Exchange earnings NIL Foreign Exchange expenditure NIL

8. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

9. Previous year''s figures have been rearranged and regrouped wherever necessary.

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Mar 31, 2015

1. GENERAL:

a) Financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956.

b) Financial Statements are prepared on historical cost basis and in consonance with the Generally Accepted Accounting Principles.

c) Till the standards of accounting or any addendum thereto are prescribed by the Central Government in consultation and recommendation of the National Financial Reporting Authority, the Company will continue to apply the accounting standards and polices as stated above.

d) The accounting policies, in all respect have been consistently applied by the Company and are consistent with those used in the previous year, except to the extent stated in Note 2 below.

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. MICRO, SMALL & MEDIUM ENTERPRISES:

There was no amount due as on March 31,2014 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

3. CASH & CASH EQUIVALENT:

Cash and cash equivalent includes cash on hand and deposits maintained with banks which can be withdrawn by the company at any point of time.

4. PAYMENT TO DIRECTORS:

During the year no payment was made to the directors of the Company except for the remuneration paid to the Managing Director of the Company.

5. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.12 (Previous year Rs.0.48).

7. CONTINGENT LIABILITIES: NIL

8. RELATED PARTIES DISCLOSURE:

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

9. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

10. Foreign Exchange earnings NIL

Foreign Exchange expenditure NIL

11. As per management's view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

12. Previous year's figures have been rearranged and regrouped wherever necessary.

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Mar 31, 2014

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. MICRO, SMALL & MEDIUM ENTERPRISES

There was no amount due as on March 31, 2014 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

3. CASH & CASH EQUIVALENT:

Cash and cash equivalent includes cash on hand, and deposits maintained with banks which can be withdrawn by the company at any point of time.

4. PAYMENT TO DIRECTORS:

During the year no payment was made to the directors of the Company except for the remuneration paid to the Managing Director of the Company.

5. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.12 (Previous year Rs.0.48).

6. AUDITOR''S REMUNERATION:

AUDITOR''S REMUNERATION 2013-14 2012-13

Statutory Audit Fees 22,472.00 22,472.00

Total 22,472.00 22,472.00

7. CONTINGENT LIABILITIES: NIL

8. RELATED PARTIES DISCLOSURE:

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

Nature of Relationship Name

i. Key Management Person Mr. Mahavir Jain

Current Year Previous Year

ii. Remuneration to Key Managerial Person 180,000.00 117,000.00

9. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

10. Foreign Exchange earnings NIL NIL

Foreign Exchange expenditure NIL NIL

11. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

12. Previous year''s figures have been rearranged and regrouped wherever necessary.

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Mar 31, 2013

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. There was no amount due as on March 31, 2013 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

3. PAYMENT TO DIRECTORS:

During the year no payment were made to the director

4. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.48 (Previous year Rs.0.06).

5. CONTINGENT LIABILITIES: NIL

6. RELATED PARTIES DISCLOSURE:

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

7. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

8. Foreign Exchange earnings NIL NIL Foreign Exchange expenditure NIL NIL

9. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

10. Previous year’s figures have been rearranged and regrouped wherever necessary.

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Mar 31, 2012

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. There was no amount due as on March 31, 2012 as reported to us from/to Micro, small & Medium Enterprises as per Micro, Small and Medium Enterprises Development Act, 2006.

3. EARNING PER SHARE (EPS):

Basic and Diluted EPS as per Accounting Standard 20 is Rs.0.06 (Previous year Rs.0.36).

4. CONTINGENT LIABILITIES: NIL

5. RELATED PARTIES DISCLOSURE: NIL

6. The Balance reflected under the head Sundry Debtors, Loans & Advances, Deposits and Sundry Creditors are subject to confirmation.

7. Foreign Exchange earnings NIL NIL Foreign Exchange expenditure NIL NIL

8. As per management's view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

9. Previous year's figures have been rearranged and regrouped wherever necessary.