k) Provision & Contingencies and Commitments

Provisions are recognized when the Company has a present obligation (legal or constructive) as
a result of a past event, and it is probable that the Company will be required to settle the
obligation, and a reliable estimate can be made of the amount of the obligation. The amount
recognized as a provision is the best estimate of the consideration required to settle the present
obligation at the end of the reporting period, taking into account the risks and uncertainties
surrounding the obligation

A disclosure for contingent liabilities is made where there is a possible obligation that arises
from past events and whose existence will be confirmed only by the occurrence or non¬
occurrence of one or more uncertain future events not wholly within the control of the entity.

A contingent asset is a possible asset that arises from past events and whose existence will be
confirmed only by the occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the entity.

Commitments include the amount of purchase order (net of advances) issued to parties for
completion of assets.

Provisions, contingent liabilities, contingent assets and commitments are reviewed at each
reporting period.

l) Provision for Gratuity

No provision for gratuity has been made as the provisions of Payment of Gratuity Act, 1972 are
not applicable.

2) Other Notes to Accounts

i. In the opinion of Board of Directors, the aggregate value of Current assets, Loans and Advances
are realizable in ordinary course of business and will not be less than the amount at which these
are stated in the balance sheet.

ii. Deferred Tax Asset for the year of Rs. -642909/- as per Ind AS 12 on Accounting for Taxes on
income pertaining to the timing between the accounting income and the taxable income has
been recognized by the management in the Profit & Loss Account.

For and on behalf of the Board of
For Asha & Associates, Directors of

M/s ACE Edutrend Limited

Chartered Accountants

Sd/- Sd/-

Monendra Srivastava Himani Sharma

Partner Managing Director, CFO Director

M.No. 096107 DIN: 07489845 DIN:08299061

FRN:024773N
UDIN:24096107BKFNHC2414

Place : New Delhi Sd/- Sd/-

Date : 28th May, 2024 Karan Jindal Sushm a Jain

Company Secretary Director

M. No.- A71387 DIN: 08545336