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.

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:-

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:

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.