Provisions, Contingent Liabilities and Contingent Assets:- (AS-29)
Provisions are recognized only when there is a present obligation
as a result of past events and when a reliable estimate of the
amount of the obligation can be made.
Contingent Liabilities is disclosed in Notes to the account for:-
(i) Possible obligations which will be confirmed only by future
events not wholly within the control of the company or
(ii) Present Obligations arising from past events where it is not
probable that an outflow of resources will be required to
settle the obligation or a reliable estimate of the amount of
the obligation cannot be made.
Contingent assets are not recognized in the financial statement
since this may result in the recognition of the income that may
never be realized.
General:
Except wherever stated, accounting policies are consistent with
the generally accepted accounting principles and have been
consistently applied.
Notes on Financial Statements
The information regarding classification of creditors as micro and
small enterprise is not available with company, hence information
as required by schedule III of the Companies Act 2013 is not given.
Salaries includes directors remuneration on account of salary
Rs.12,40,000 /- .
Trade receivables, Trade payables, Loans & Advances and
Unsecured Loans have been taken at their book value subject to
confirmation and reconciliation.
5. Loans and Advances are considered good in respect of which
company does not hold any security other than the personal
guarantee of persons.
6. No provision for retirement benefits has been made, in view of
accounting policy No. 10. The impact of the same on Profit & Loss is
not determined.
7. Advance to others includes advances to concerns in which
directors are interested:
8. Related Party disclosure as identified by the company and relied
upon by the auditors:
(A) Related Parties and their Relationship
(I) Key Management Personnel
1. Rajiv Vashisht (Managing Director)
2. Ravi Sharma (Chief Financial Officer)
9. Additional Regulatory Information/disclosures as required by
General Instructions to Schedule III to the Companies Act, 2013 are
furnished to the extent applicable to the Company.
11. Value of Imports
Raw Material Nil Nil
Finished Goods Nil Nil
12. Expenditure in Foreign Currency Nil Nil
13. Earning in Foreign Exchange Nil Nil
14. Previous year figures have been regrouped/rearranged wherever
necessary.
Signature to notes 1 to 20
In terms of Our Separate Audit Report of Even Date Attached.
For Kapil Sandeep & Associates For RACONTEUR GLOBAL RESOURCES LIMITED
Chartered Accountants (FORMERLY KNOWN AS GANESH FILMS INDIA LIMITED)
Firm Registration No. 016244N
Sd/- Sd/- Sd/-
CA. Surinder Pal Singh Rajiv Vashisht Iqbal Singh
Membership No. 511569 Director Director
UDIN: 245115693KCWLU5572 DIN : 02985977 DIN : 02776893
Sd/- Sd/-
Place: Mohali Ravi Sharma Navkiran Kaur
Date: 29/05/2024 CFO Company Secretary
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