Notes to Accounts of Trio Mercantile & Trading Ltd.

Mar 31, 2024

K. Provisions

Provisions are recognized when the Company has a present obligation (legal or constructive) as
a result of a past event, it is probable that an outflow of economic benefits will be required to
settle the obligation and are liable estimate can be made of the amount of the obligation.

L. Gratuity:

No provision for gratuity has been made as no employee has put in qualifying period of service
entitlement of this benefit.

M. Dividends

Provision is made for the amount of any dividend declared, being appropriately authorised and
no longer at the discretion of the entity, on or before the end of the reporting period but not
distributed at the end of there porting period.

N. Earnings per share

The basic earnings per share is computed by dividing the net profit for the period attributable to
equity shareholders by the weighted average number of equity shares outstanding during the
period. The number of shares used in computing diluted earnings per share comprises the
weighted average shares considered for deriving basic earnings per share and also the weighted
average number of equity shares which would have been issued on the conversion of all dilutive
potential equity shares. Dilutive potential equity shares are deemed converted as of the beginning
of the period unless they have been issued at a later date.

O. Rounding of amounts

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

‘Disclosure in relation to Micro and Small enterprises ''Suppliers'' as defined in the Micro, Small and
Medium Enterprises Development Act, 2006 (''Act'').

The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26
August 2008 which recommends that the Micro and Small Enterprises should mention in their
correspondence with their customers the Entrepreneurs Memorandum Number as allocated after filing
of the said Memorandum. Accordingly, the disclosures above in respect of the amounts payable to
such enterprises as at the period end has been made based on information received and available
with the Company.

As explained by management there is no outstanding balance related to Micro and Small enterprises
''Suppliers'' as defined in the Micro, Small and Medium Enterprises Development Act, 2006 (''Act'') as
at year end.

Note 23 Contingent liabilities and commitments (to the extent not provided for)

During the year, the Company has not made any investments in, provided any security
or granted any loan or advances in nature of loans, secured or unsecured to companies,
firms, limited liability partnerships or any other parties.

Note 24 Borrowings from banks and financial institutions

Company has not taken any loan from bank and financial institutions during the financial
year 2023-24, hence no reporting is required as per revised schedule III of Companies
Act 2013.

Note 25 Loans or advances granted to promoters, directors, KMPs and related parties

The Company has not given any loans or advances in the nature of loans to its
promoters, directors, KMPs and related parties, hence no reporting is required as per
revised schedule III of Companies Act 2013.

Note 26 Capital-Work-in Progress (CWIP)

There is no capital work in progress in the company as on balance sheet date.

Note 27 Intangible assets under development

There is no Intangible assets under development in the company as on balance sheet
date.

Note 28 Detail of Benami Property held

There is no proceedings have been initiated or pending against the company for holding
any benami property under the Prohibition of Benami Property Transactions Act, 1988
and the Rules made thereunder.

Note 29 Security of current assets against borrowings

The company has not taken any borrowings ''during any point of time of the year'' from
banks or financial institutions on the basis of security of current assets.

Note 30 Wilful Defaulter

The Company is not declared wilful defaulter by any bank or financial institution or
other lender at any time during the financial year or after the end of reporting period
but before the date when financial statements are approved or in an earlier period.

Note 31 Relationship with Struck off companies

Company did not have any transactions with companies struck off under Section 248
of Companies Act, 2013 or Section 560 of Companies Act, 1956.

Note 32 Registration of charges or satisfaction with Registrar of Companies

There is no charges or satisfaction yet to be registered with Registrar of Companies
by the company during the financial year.

Note 33 Compliance with number of layers of companies

The company is not required to 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.

Note 34 Compliance with approved Scheme(s) of Arrangements

No Scheme of Arrangements has been approved by the Competent Authority in terms
of sections 230 to 237 of the Companies Act, 2013, during the financial year.

Note 35 Utilisation of Borrowed fund and share premium

Neither the company has advanced or loaned or invested funds to Intermediaries nor
received any fund from any Funding Party during the financial year with the
understanding that the Intermediary or 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 company (Ultimate Beneficiaries)

b. provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries.

Note 36 Undisclosed Income

The company has no transaction which is not recorded in the books of accounts that
has been surrendered or disclosed as income during the year 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), unless there is immunity for disclosure under
any scheme.

Note 37 Details of Cyrpto Currency or Virtual Currency

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

Note 39 Income and Expenditure in Foreign Currency:

The company has no Income or Expendityre in Foreign Currency during the financial
year.

Note 40 Employee benefit plans

The Defined Benefit Plans comprise of Gratuity. Gratuity is a benefit payable as per
the provision of Gratuity Act, 1972 with vesting period of 5 years of service. The gratuity
liablity payable is not funded.

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Mar 31, 2018

Note : No amounts are receivable from directors or other officers of the company either severally or jointly with any other person or from by the firms or private companies in which any director is a partner or a director or a member.

i) Terms/ right attached to Equity Shares

The Company has Only one Class of equity shares having par value of Rs. 10 per Shares. Each holder of Equity Shares is Entitled to one vote per share. In the event of liquidation of the company, the holders of equity share will be entitled to receive remaning assets of the Company, after distribution of all preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholders.

In assessing the realizability of deferred income tax assets, management considers whether some portion or all of deferred income tax assets will not be reliazed. The ultimate realization of deferred income tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible. The amount of the deferred income tax assets considered realizable, however could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced.

“*Disclosure in relation to Micro and Small enterprises ‘Suppliers’ as defined in the Micro, Small and Medium Enterprises Development Act, 2006 (‘Act’).

The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with their customers the Entrepreneurs Memorandum Number as allocated after filing of the said Memorandum. Accordingly, the disclosures above in respect of the amounts payable to such enterprises as at the period end has been made based on information received and available with the Company.

As explained by management there is no outstanding balance related to Micro and Small enterprises ‘Suppliers’ as defined in the Micro, Small and Medium Enterprises Development Act, 2006 (‘Act’) as at year end.”

Note No : 1 Earnings per share (EPS)

Basic EPS amounts are calculated by dividing the profit for the year attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year.”Diluted EPS amounts are calculated by dividing the profit attributable to equity holders of the company by the weighted average number of Equity shares outstanding during the year plus the weighted average number of Equity shares that would be issued on conversion of all the dilutive potential Equity shares into Equity shares. The following data reflects the inputs to calculation of basic and diluted EPS

Note No. 2 - Related party transactions

a) Related party and nature of the related party relationship with whom transactions have taken place during the year

b) Key Management Personnel

Mr. Deepak Mehta - Executive Director Mr. Bhadresh Shah - Director Mr. Hiren Kothari - Executive Director Mr. Pallavi Kothari - Women Director Ms. Megha Trivedi - Company Secretary Ms. Jigna Dani - CFO

NOTE No. 3 Exemptions applied

Ind AS 101 allows first-time adopters certain exemptions from the retrospective application of certain requirements under Ind AS. The Company has applied the following exemptions:

Since there is no change in the functional currency, the company has elected to continue with the carrying value measured under the previous GAAP and use that carrying values as the deemed cost for property, plant and equipment on the transition date.

A previous GAAP revaluation for an item of plant, property and equipment may be used as deemed cost, provided that at the date of revaluation, the revaluation was broadly comparable to fair value, or cost or depreciated cost in accordance with Ind AS.

Ind AS 101 permits a first time adopter to elect to continue with the carrying value for all of its propety, plant and equipment as recognised in the financial statements aas at the date of transition to Iind AS, measured as per previous GAAP and use that as its deemed cost as at the date of transition. Accordingly, the Group has elected to measure all of property, plant and equipment at the previuos GAAP carrying value.

Note 4 : Some of the balances of current loans, current trade receivables, current trade payables are subject to confirmation and reconciliation of any.

Note 5 : Contingent Liabilities and Commitments (to the extended not provided for): NIL (P.Y NIL)

Note 6 : In the opinion of the management and to the best of their knowledge and belief the value under the head of the current assets and non-current assets (other than Fixed assets) are approximately of the value stated, if realized in ordinary course of the business, except unless stated otherwise. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.

Note 7 : Details of dues to micro and small enterprises as defined under the Micro and Small Enterprise Development (MSMED) Act, 2006*

* Dues to Micro and Small Enterprises have been determined to the extent such parties have been identified on the basis of information collected by the Management.

The above Statement of changes in equity should be read in conjunction with accomplying notes. This is the Statement of changes in equity referred to our report of even date.

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Mar 31, 2015

1. Contingent Liabilities and Commitments (to the extended not provided for) : NIL (P.Y NIL)

2. Related Parties Disclosure

i) Subsidiaries : Nil

ii) Key Managerial Personnel:

A. Executive Director

1) Mr. Hiren S. Kothari (MD)

2) Mr. S. S. Merchant

B. Non Executive Director

1) Mr. Jayesh Gandhi

2) Mr. Chandraprakash Chaturvedi

3) Mrs. Palalvi Hiren Kothari

4) Mr. Dilip Parekh

3. In the opinion of the management and to the best of their knowledge and belief the value under the head of the current assets and non-current assets (other than Fixed assets) are approximately of the value stated, if realized in ordinary course of the business, except unless stated otherwise. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.

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Mar 31, 2014

1. Contingent Liabilities and Commitments (to the extended not provided for) : NIL (P.Y NIL)

2. Related Parties Disclosure

i) Subsidiaries: Nil

ii) Key Managerial Personnel:

A. Executive Director

1) Mr. Hiren S. Kothari(MD)

2) Mr. S.S.Merchant

B. Non Executive Director

1) Mr. Jayesh Gandhi

2) Mr. Chandraprakash Chaturvedi

iii) Entities having significant influence over the company

Other Related Parties

2013-14 2012-13

Transactions:

Remuneration 688200 688200

Rent -- 280500

Reimburse of Expenses 27500 280500

Amount due to / from Related parties

Outstanding loans and advances given -- 349405

3. In the opinion of the management and to the best of their knowledge and belief the value under the head of the current assets and non-current assets (other than Fixed assets) are approximately of the value stated, if realized in ordinary course of the business, except unless stated otherwise. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.

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Mar 31, 2013

1. Contingent Liabilities and Commitments (to the extended not provided for) : NIL (P.Y NIL)

2. Related Parties Disclosure

i) Subsidiaries: Nil

ii) Key Managerial Personnel:

A. Executive Director

1) Mr. Hiren S. Kothari(MD)

2) Mr. S.S.Merchant

B. Non Executive Director

1) Mr. Jayesh Gandhi

2) Mr. Umesh Khese

iii) Entities having significant influence over the company

1. Tricom Fruits Products Ltd.

2. Tricom India Ltd.

2. In the opinion of the management and to the best of their knowledge and belief the value under the head of the current assets and non-current assets (other than Fixed assets) are approximately of the value stated, if realized in ordinary course of the business, except unless stated otherwise. The provision for all the known liabilities is adequate and not in excess of amount considered reasonably necessary.