N. Provisions, Contingent Liabilities and Contingent assets:
(i) Provisions
A provisions is recognized when the Company has a present obligation as a result of past event, if 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 obligation.
(ii) Contingent Liability
Contingent Liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will be confirmed only on the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or a present obligation that arises from past events where it is either not probable that an outflow of resources will be required to settle or a reliable estimate of the amount cannot be made.
(iii) Contingent Assets
Contingent Assets are neither recognised nor disclosed in the financial statements.
O. Cash & Cash Equivalents:
Cash & cash equivalents comprise cash and cash on deposit with banks and corporations. The Company considers all highly liquid investments with a remaining maturity at the date of purchase of six months or less and that are readily convertible to known amount of cash to be cash equivalents.
As per our report of even date attached For and on behalf of the Board
TRIDENT LIFELINE LIMITED
For A Bafna & Associates Hardik Desai Mayurkumar Gajera
Chartered Accountants Chairman & Executive Director Whole-Time Director & CFO
(Firm Reg. No.: 121901W) (DIN No.: 01358227) (DIN No.: 08629139)
CA Meet Jain Shravan H. Patel Jiteshkumar Varkal
Partner Managing Director Company Secretary &
Mem. No.: 195377 (DIN No.: 08629141) Compliance Officer
UDIN: 24195377BKCJIH6832 PAN: AHIPV2810N
Mem. No.: A31727
Date: April 27, 2024 Place: Surat
|