q) Provisions Contingent liabilities and contingent assets:-
A provision is recognized if, as a result of a past event, the Company has a present legal obligation that
can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle
the obligation. Provisions are determined by the best estimate of the outflow of economic benefits
required to settle the obligation at the reporting date. Where no reliable estimate can be made, a disclosure
is made as Contingent Liability.
A disclosure for a Contingent Liability is also made when there is a possible obligation or a present
obligation that may, but probably will not, require an outflow of resources. Where there is a possible
obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no
provision or disclosure is made.
Possible obligation that arises from the past events whose existence will be confirmed by the occurrence
or non-occurrence of one or more uncertain future events beyond the control of the Company or a present
obligation that is not recognized because it is not probable that an outflow of resources will be required to
settle the obligation is reported as Contingent Liability. In the rare cases, when a liability cannot be
measures reliable, it is classified as Contingent Liability. The Company does not recognize a Contingent
Liability but disclosed its existence in the standalone financial statements.
r) Event after Reporting Date:-
Where events occurring after the Balance Sheet date provide evidence of condition that existed at the end
of reporting period, the impact of such events is adjusted within the standalone financial statements.
Otherwise, events after the Balance Sheet date of material size or nature are only disclosed.
All the events occurring after the Balance Sheet date up to the date of the approval of the standalone financial statement
of the Company by the board of directors on May 23th 2025, have been considered, disclosed and adjusted, wherever
applicable, as per the requirement of Accounting Standards.
Notes Forming Part of the Financial Statements
26. The previous year’s figures have been reworked, regrouped, and reclassified wherever necessary. Amounts and
other disclosures for the preceding year are included as an integral part of the current annual financial statements
and are to be read in relation to the amounts and other disclosures relating to the current financial year.
27. The Company has not revalued its Property, Plant and Equipment for the current year.
28. There is no Capital work in progress for the current year of the company.
29. There has Intangible assets under development in the current year.
30. Credit and Debit balances of unsecured loans, Trade Payables, sundry Debtors, loans and Advances are subject to
confirmation and therefore the effect of the same on profit could not be ascertained.
31. The Company does not have any charges or satisfaction which is yet to be registered with ROC beyond the
statutory period.
32. The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
33. No proceeding has been initiated or pending against the Company for holding any Benami property under the
Benami Transactions (Prohibition) Act, 1988, as amended, and rules made thereunder.
34. The company has not been declared as willful defaulter by any bank or financial institution or government or
government authority.
35. The Company has not advanced or loaned to or invested in funds to any other person(s) or entity(is), including
foreign entities (Intermediaries) with the understanding that the Intermediary shall:
a) directly or indirectly lend to 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
36. The Company has not received any fund from any person(s) or entity(is), including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the Company shall
a) directly or indirectly lend to 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 on behalf of the Ultimate Beneficiaries.
37. The company does not have transaction with the struck off under section 248 of companies act, 2013 or section 560
of Companies act 1956.
38. The company is in compliance with the number of layers prescribed under clause (87) of section 2 of company’s act
read with companies (restriction on number of layers) Rules, 2017.
39. Foreign Currency Transactions:
Expenditure in Foreign Currency: - NIL
Earnings in Foreign Currency: - NIL
40. The balances of Trade payables, Trade Receivable and loans and advances are subject to confirmation by respective
parties.
41. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value
stated, if realized in the ordinary course of business.
42. Wherever external evidence in the form of cash memos / bills / supporting are not available, the internal vouchers
have been prepared, authorized and approved.
43. Statement of Management
(i) The current assets, loans and advances are good and recoverable and are approximately of the values,
if realized in the ordinary courses of business unless and to the extent stated otherwise in the Accounts.
Provision for all known liabilities is adequate and not in excess of amount reasonably necessary.
(ii) Balance Sheet, Statement of Profit and Loss and Cash Flow Statement read together with Notes to the
accounts thereon, are drawn up so as to disclose the information required under the Companies Act,
2013 as well as give a true and fair view of the statement of affairs of the Company as at the end of the
year and results of the Company for the year under review.
44. Related Party Reporting:
As per Accounting Standard 18, issued by the Chartered Accountants of India, The Disclosures of Transaction
with the related parties as defined in the related parties as defined in the Accounting Standard are given below:
As per our report of even date For and on behalf of Board of Directors
For and on behalf of ARROWHEAD SEPERATION ENGINEERING LTD
B.B Gusani & Associates CIN: U74210MH1991PLC062643
Chartered Accountants
FRN: 140785W
Sd/- Sd/- Sd/-
Bhargav Gusani Ajit Mundle Jyoti Mundle
Proprietor Managing Director Whole Time Director
Membership No: 120710 DIN: 01745577 DIN: 01744211
Date : 23/05/2025 Date: 23/05/2025 Date: 23/05/2025
Place : Jamnagar Place: Nashik Place: Nashik
UDIN : 25120710BMHTRR6777
Sd/- Sd/-
Sitaram S Kavar Radhika Bhootra
Chief Financial Officer Company Secretary
PAN:ADQPK1825Q PAN: DAXPB9451C
Date: 23/05/2025 Date: 23/05/2025
Place: Nashik Place: Nashik
|