Notes To Account Advaita Developers Pvt. Ltd.

M/S ADVAITA DEÝELOPERS AND PROMOTERS PVT. LTD.
Kó Khandelwal Complex, Near Gulzar Hotel, Jabalpur MP482002 IN

Note - 25: Notes forming part of the Accounts for the year ended 31st Murch2024.
A Company Overview
The business of the company was incorporated on 28/11/2011.
B. Significant Accounting Policies
Basis of preparation of financial statements
The financial statements are prepared under the historical cost convention on accrual & going concern
basis and in compliance with the accounting standards issued by The Institute of Chartered
Accountants of India and in accordance with the generally accepted accounting principles (GAAP)
and provisions ofthe Companies Act, 2013.
b Use of estimates
The preparation of financial statements in conformity with the generally accepted
accounting
principles requires management to make estimates and assumptions that affect the reported amounts
of assets and liabilities and the disclosure of contingent liabilities on the date of financial statements
and reported amounts of revenue and expenses during the reporting period. Actual results could differ
from those estimates. Any revision to accounting estimates is recognized prospectively in current and
future periods.
Fixed Assets and Depreciation
Fixed Assets are carried at cost of acquisition, including all such relevant costs capitalized for the
acquisition till the date the assets are put to use, less depreciation. Depreciation on tangible fixed
assets has been provided on Written down Value (WDV) at the rates prescribed under Schedule II of
the companies' act, 2013.
d
Pre-Operative Expenditure
Pre-operative expenditure incurred up to the date of commencement of business is capitalized and
willbe written offover a period of 5 years.
e. Taxation
The provision for taxation is a_certained on the basis of
with the provisions of Income Tax Act, 1961. Provision forassessable profits computed in accordance
tax comprises of Current Tax. Deferred
tax liability is recognized, subject to consideration of
prudence, on timing difference, being the
difference between taxable incomes & accounting incomes.
f. Events occurring after Balance Sheet date
No significant events which could affect the financial
position as on
have been reported by the management, after the balance sheet date till31.03.2024 to a material extent
the signing of report.
Prior period and Extraordinary Items
There are no material changes or credits which arise in the
currerft
omission in the preparation of the financial statements for the one or period on account of errors and
more period.
h Borrowing Cost
Borrowing costs that are attributable to the acquisition,
are capitalized as part of the cost of such asset, till such construction or production of qualifying asset
time as the asset is ready for its intended use
or sale. A qualifying asset is an asset that
necessarily takes a substantial period of time to get ready
for its intended use or sale. All other borrowing cost is recognized as an expense in the period in
which they are incurred.
MIS ADVAITADEVELOPERS AND PROMOTERS PVT. LTD.
Kó Khandelwal Complex, Near Gulzar Hotel, Jabalpur MP 482002 IN
i. Retirement Benefits
No provisions have been made in the accounts for Gratuity and Retirement Benefits for the
employees. As informed by the management that this above provision is not applicable to the
company hence no such provision was made during the year.
Foreign Exchange Transactions
There is no foreign currency transactions made during the year.
k Provisions, Contingent Liabilities & Contingent Assets
Provisions are recognized for liabilities that can be measured only by using a substantial degree of
estimation, if
i) The Company has a present obligation as a result of a past
event.
ii) A probable outflowof resources is expected to settle
the obligation, and
iii) The amount of the obligation can be reliably estimated.
Reimbursement expected in respect of expenditure required to settle a provision is recognized only

when it is virtually certain that the reimbursement
will be received.
Contingent Liability is disclosed in the case of:
i) A present obligation arising from a past event, when it is not probable that an
willbe required to settle the obligation. outflow of resources
ii)A present obligation when no reliable estimate is possible, and
i) A possible obligation arising from past events where the
remote. probability of outflow of resources is not
Contingent Assets are neither recognized, nor disclosed.

Provision, Contingent Liabilities and Contingent Assets are reviewed at each Balance Sheet date.
1. Notes Forming part of Accounts
In the opinion of the Board the Inventories, Borrowings, Current Assets, Loans &
approximately of the value stated and realizable in the ordinary course of business.Advances are
The Provision for
all known liabilities is adequate.
ii. Directors Remuneration

Remuneration paid to Director during the period is as follows: -
Mrs. Abha Dhimole -3,00,000/
Director sitting fees paid during the period is Rs NIL.
ii. Trade Payables/Sundry Creditors ageing
Particulars Less than 1 Year Above 1Year
MSME Registered and others Rs. 176,67,129.69 Rs. 146,02,455.94

iv. Related Party transactions
Related Parties & their relationships
Holding company: -N.A.
Key Personnel Management -N.A.
M/S ADVAITA DEVELOPERS AND PROMOTERS PVT. LTD.
K6 Khandelwal Complex, Near Gulzar Hotel, Jabalpur MP 482002 IN
Transactions with Rclated Partics
Remuneration & other payments made to Key Management Personnel are disclosed in Note
No. (ii) Above.
Loan from Directors- Nitin Dhimole - 1,78,62,740.
Loan from Shareholder -Khemchand Dhimole - 1,50,000.
Loans and Advances- Advaita Solvent LLP -34,12,422.
a Auditors Remuneration & Other dues
Particulars 2023-24
Audit Fees 30,000
Total 30,000
b Deferred Tax Liability/Assets:
During the year 2023-24 Deferred Tax Asset is recognized in the books of accounts as per AS-22
issued by ICAI.
Additional Information Pursuant to the Provision of PartII of the Schedule III of the Companies Act
2013.
Quantitative Information
i) Installed Capacity N.A
ii) License Capacity N.A.
ii) Production /Sales of Stocks N.A.
d. C.ILF. Value of Imports, Expenditure and Earnings in Foreign Companies: N.A.

e. On this basis on information furnished to us the Company does not have any amount due
interest) to Small Scale Industrial Undertaking.
(inclusive of
f. Figures for the Current year & previous year have been regrouped/restated wherever necessary in our
report ofeven date.
OTRECTOR) DRECTOR}
Abhá Dhimole
DIN 03296351 DN Q3s90107

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M/S ADVAITA DEÝELOPERS AND PROMOTERS PVT. LTD.

Kó Khandelwal Complex, Near Gulzar Hotel, Jabalpur MP482002 IN

Reimbursement expected in respect of expenditure required to settle a provision is recognized only

Contingent Assets are neither recognized, nor disclosed.

ii. Directors Remuneration

Particulars Less than 1 Year Above 1Year

MSME Registered and others Rs. 176,67,129.69 Rs. 146,02,455.94

d. C.ILF. Value of Imports, Expenditure and Earnings in Foreign Companies: N.A.

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