Notes to Accounts of Parshva Enterprises Ltd.

Mar 31, 2025

Significant Accounting Policies and Notes forming part of Accounts Note: 22

1 NOTES ON ACCOUNTS

1.1 Previous year’s figures are regrouped/rearranged wherever necessary.

j 2 Provision for Taxation for the current year has been made after taking into consideration benefits admissible under . the provisions of the Income T ax Act, 1961.

j ^ Contingent liability in respect of claims against the company not acknowledged as debts against which the company

. has counter claims aggregating to Rs. is Nil.

1.4 All the Opening Balances are taken as per previous year audit report.

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated in the . Balance sheet, if realized in the ordinary course of business.

j g Information pursuant to paragraph 2, 3, 4, 5 of Part II of the schedule III is given as under so far as it applies to the

. company.

a) Payment to Statutory Auditors
	31-Mar-25	31-Mar-24
1. Audit Fees	25000	25000

j 2 There is no adjustment required to be made to the profits or loss for complying with ICDS notified u/s 145(2).

1.8 In the Meeting of Board of Directors held on 14th May, 2024 the Board had approved the Scheme of Arrangement and the De-merger of ''Jewellry Business of the Company into Simandhar Impex Ltd (100% Subsidiary of the Company) on going concern basis. The company has received Observation Letter from BSE Limited vide letter no. DCS/AMALI/TS/R37/3512/2024-25 dated 5th February, 2025 and the Company has received order from Hon''ble National Company Law Tribunal, Mumbai (NCLT) dated 24th April 2025, for conducting meetings of Shareholders for their approval of the Scheme.

2 Significant Accounting Policies Note : 23

2.1 Corporate Information

Parshva Enterprises Limited (“the Company’’) is a company limited by shares incorporated under the Companies Act, 2013.

The Company’s Registered Office is situated at Mumbai. The Company’s shares are listed on the Bombay Stock Exchange (BSE) with the Scrip Code 542694

2.2 Basis of preparation of Financial Statements

The Financial statements are prepared under the historical cost convention and on accrual basis in accordance with applicable Indian Accounting Standards prescribed under section 133 read with rule 7 of the Companies (Accounts) rules, 2014.

Accounting policies not specifically referred to. otherwise are consistent and in accordance with the generally accepted accounting principles.

2.3 Revenue Recognition

Sales are recorded exclusive of Taxes

2.4 Property, Plant and Equipments

Property, Plant and Equipments are stated at cost of acquisition or construction less accumulated depreciation, including financial cost till such assets are ready for its intended use.

2.5 Depreciation

Depreciation is charged on written down value method as per Companies Act 2013.

2.6 Impairment of Assets

Impairment of assets if any is ordinarily assessed by comparing recoverable value of individual assets with its carrying cost.

2.7 Inventories

Inventories are valued at cost or net realizable value whichever is lower. Cost in respect of inventories is ascertained on Weighted Average Method.

2.8 Investments

Long Term Investments if any are stated at cost. Provision for dimunation if any in value of assets is only made when the same is of permanent nature.

2.9 Retirement Benefits

As certified by the management, the company has no liability under the Provident Fund & Super Annuation Fund ⁽ⁱ⁾ as the said acts do not apply to the company.

It is explained to us that the company does not provide for any leave encashment and any liability arising thereon ^{( )} shall be paid and dealt with in the books of accounts at the actual time of payment.

2.10 Retirement Benefits

As certified by the management, the company has no liability under the Provident Fund & Super Annuation Fund

⁽ⁱ⁾ as the said acts do not apply to the company.

It is explained to us that the company does not provide for any leave encashment and any liability arising thereon

⁽ⁱⁱ⁾ shall be paid and dealt with in the books of accounts at the actual time of payment.

2.11 Borrowing Cost

Borrowing cost on working capital is charged against the profit & loss account in which it is incurred.

Borrowing costs that are attributable to the acquisition or construction or manufacture of qualifying assets are capitalized as a part of the cost of such assets till the date of acquisition or completion of such assets. In respect of suspended project for extended period, borrowing costs are not capitalized for such period.

2.12 Taxes on Income

Taxes on income of the current period are determined on the basis of taxable income and credits computed in accordance with the provisions of the Income tax Act, 1961.

Deferred tax is recognized on timing differences between the accounting income and the taxable income for the year, and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date.

2.13 Provision, Contingent liabilities and contingent assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but the same is disclosed in the financial statements. Contingent assets are neither recognized nor disclosed in the financial statements.

2.14 Applicability of IndAS-24

In accordance with the requirements of IndAS-24 “Related Party Disclosures “issued by the Institute of Chartered Accountants of India, the following persons are considered as Related Party as define in IndAS-24:-

Name	Nature of transaction	31-03-2025	31-03-2024
Mr. Prashant A Vora	Office Rent	4,68,000	4,68,000
Mrs. Seema P Vora	Office Rent	2,52,000	2,52,000
Mr. Prashant A Vora	Unsecured Loan	4,36,824.41	1,82,245.35

2.15 Foreign Currency Transaction

There are no such foreign currency transactions during the year.

2.16 C/F Value of Import Raw Materials: NIL

2.17 Expenditure in Foreign Currency: NIL

2.18 Earning Per Share: The Earning Per Share (IndAS-33) has been computed as under:

(Figures in Lakhs)
(a) Profit after tax	21.05
(b) Equity Share (In Number)	101.897
(c) Nominal value of share	10
(d) EPS	0.21

2.19 Other Statutory Information:

The Company does not have anything to report in respect of the following:

• Benami properties

• Trading or investment in crypto or virtual currency

• Giving/receiving of any loan or advance or funds with the understanding that the recipient shall lend, invest, provide security or guarantee on behalf of the Company/funding party.

• Transactions with struck-off companies

• Non-compliance with number of layers as prescribed under the Companies Act, 2013, read with Companies (Restriction on number of Layers) Rules, 2017

• Charges or satisfaction not registered with ROC beyond statutory period

• The Company is not declared as willful defaulter by any bank or financial Institution or other lender.

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Mar 31, 2024

1 NOTES ON ACCOUNTS

1.1 Previous year’s figures are regrouped/rearranged wherever necessary.

1.2 Provision for Taxation for the current year has been made after taking into consideration benefits admissible under . the provisions of the Income T ax Act, 1961.

1.3 Contingent liability in respect of claims against the company not acknowledged as debts against which the company has counter claims aggregating to Rs. is Nil.

1.4 All the Opening Balances are taken as per previous year audit report.

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated in the . Balance sheet, if realized in the ordinary course of business.

1.5 Information pursuant to paragraph 2, 3, 4, 5 of Part II of the schedule III is given as under so far as it applies to the company.

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Mar 31, 2023

1 NOTES ON ACCOUNTS

1.1 Previous year''s figures are regrouped/rearranged wherever necessary.

1 2 Provision for Taxation for the current year has been made after taking into consideration benefits . admissible under the provisions of the Income Tax Act, 1961.

g Contingent liability in respect of claims against the company not acknowledged as debts against which

. the company has counter claims aggregating to Rs. is Nil.

1.4 All the Opening Balances are taken as per previous year audit report.

In the opinion of the Board, the current assets, loans and advances are approximately of the value stated . in the Balance sheet, if realized in the ordinary course of business.

1 g Information pursuant to paragraph 2, 3, 4, 5 of Part II of the schedule III is given as under so far as it . applies to the company.

a) Payment to Statutory Auditors
	31-Mar-23	31-Mar-22
1. Audit Fees	25000	25000

There is no adjustment required to be made to the profits or loss for complying with ICDS notified u/s ¹⁷ 145(2).

2 Significant Accounting Policies Note : 23

2.1 Corporate Information

Parshva Enterprises Limited ("the Company'''') is a company limited by shares incorporated under the Companies Act, 2013.

The Company''s Registered Office is situated at Mumbai. The Company''s shares are listed on the

Bombay Stock Exchange

(BSE) with the Scrip Code 542694

2.2 Basis of preparation of Financial Statements

The Financial statements are prepared under the historical cost convention and on accrual basis in accordance with applicable Indian Accounting Standards prescribed under section 133 read with rule 7 of the Companies (Accounts) rules, 2014.

Accounting policies not specifically referred to. otherwise are consistent and in accordance with the generally accepted accounting principles

2.3 Revenue Recognition

Sales are recorded exclusive of Taxes

2.4 Property, Plant and Equipments

Property, Plant and Equipments are stated at cost of acquisition or construction less accumulated depreciation, including financial cost till such assets are ready for its intended use.

2.5 Depreciation

Depreciation is charged on written down value method as per Companies Act 2013.

2.6 Impairment of Assets

Impairment of assets if any is ordinarily assessed by comparing recoverable value of individual assets with its carrying cost.

2.7 Inventories

Inventories are valued at cost or net realizable value whichever is lower. Cost in respect of inventories is ascertained on Weighted Average Method.

2.8 Investments

Long Term Investments if any are stated at cost. Provision for dimunation if any in value of assets is only made when the same is of permanent nature.

2.9 Retirement Benefits

As certified by the management, the company has no liability under the Provident Fund & Super ⁽ⁱ⁾ Annuation Fund as the said acts do not apply to the company.

It is explained to us that the company does not provide for any leave encashment and any liability ^{( )} arising thereon shall be paid and dealt with in the books of accounts at the actual time of payment.

2.10 Retirement Benefits

As certified by the management, the company has no liability under the Provident Fund & Super ⁽ⁱ⁾ Annuation Fund as the said acts do not apply to the company.

It is explained to us that the company does not provide for any leave encashment and any liability ^{( )} arising thereon shall be paid and dealt with in the books of accounts at the actual time of payment.

2.11 Borrowing Cost

Borrowing cost on working capital is charged against the profit & loss account in which it is incurred.

Borrowing costs that are attributable to the acquisition or construction or manufacture of qualifying assets are capitalized as a part of the cost of such assets till the date of acquisition or completion of such assets. In respect of suspended project for extended period, borrowing costs are not capitalized for such period

2.12 Taxes on I ncome

Taxes on income of the current period are determined on the basis of taxable income and credits computed in accordance with the provisions of the Income tax Act, 1961.

Deferred tax is recognized on timing differences between the accounting income and the taxable income for the year, and quantified using the tax rates and laws enacted or substantively enacted as on the Balance Sheet date.

2.13 Provision, Contingent liabilities and contingent assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past event and it is probable that there will be an outflow of resources. Contingent liabilities are not recognized but the same is disclosed in the financial statements. Contingent assets are neither recognized nor disclosed in the financial statements.

2.14 Applicability of IndAS-24

In accordance with the requirements of IndAS-24 "Related Party Disclosures "issued by the Institute of Chartered Accountants of India, the following persons are considered as Related Party as define in IndAS-24:-

Name	Nature of transaction	31-03-2023	31-03-2022
Mr. Prashant A Vora	Office Rent	468,000.00	468,000.00
Mrs. Seema P Vora	Office Rent	252,000.00	252,000.00
Mr. Prashant A Vora	Unsecured Loan	728471.12	309,881.32

2.15 Foreign Currency Transaction

There are no such foreign currency transactions during the year.

2.16 C/F Value of Import Raw Materials: NIL

2.17 Expenditure in Foreign Currency: NIL

2.18 Earning Per Share: The Earning Per Share (IndAS-33) has been computed as under:

(Figures in Lakhs)
(a) Profit after tax	21.44
(b) Equity Share (In Number)	100.497
(c) Nominal value of share	10
(d) EPS	0.21

2.19 Other Statutory Information:

The Company does not have anything to report in respect of the following:

• Benami properties

• Trading or investment in crypto or virtual currency

• Giving/receiving of any loan or advance or funds with the understanding that the recipient shall lend, invest, provide security or guarantee on behalf of the Company/funding party.

• Transactions with struck-off companies

• Non-compliance with number of layers as prescribed under the Companies Act,

2013, read with Companies (Restriction on number of Layers) Rules, 2017

• Charges or satisfaction not registered with ROC beyond statutory period

• The Company is not declared as willful defaulter by any bank or financial Institution or other lender.