As explained by the Company that there is no contingent liability.
a. Pre-Operative expenses incurred on the new project/expansions are being determined separately and capitalized on the fixed assets Acquired.
b. Expenses incurred for installation, Completion of construction and combining of plant capitalized during the year.
Factors giving rise to any indication of any impairment of the carrying amount of the company's assets are appraised at each balance sheet date to determined and provide / revert an impairment loss following the Accounting Standard AS-28 for impairment of assets. No impairment loss/ profit have been recognized during this year.
Foreign currency transaction in respect of fixed asset are restated at the exchange rate prevailing in the market at the end and the increase / decrease arising out of it is adjusted to the P&L account as per principles of Revised AS - 11 issued by ICAI. Foreign currency debtors are readjusted at the Balance Sheet date as per Revised AS - 11 issued by ICAI.
a) Figures have been rounded off to the nearest rupees.
b) Figure or the previous years have been regrouped, rearrange and reclassified wherever considered necessary to make them comparable with those for the current year.
c) The Balances of sundry Debtors, creditors, unsecured loans and advances are subject to confirmation & reconciliation if any;
d) Payment of Auditors Remuneration of Rs. 25000/- includes Tax Audit fees, Statutory audit fees, Vat Audit & consultancy charges.
e) The Company has no employee drawing Rs. 850,000/- or more per month if employed for part of the year or Rs. 1,.02,00,000/- or
f) In the opinion of the management and to the best of their belief, the value on realization of loan and advances and other current assets during the ordinary course of business will not be less than the amount stated in the Balance-Sheet and provision for all known liabilities has been made.
g) Company has not received copies of the Memorandum filled with concerned authority by entities falling under the MSMED Act 2006. Company is unable to identify units as well as furnished details required under the said Act.
For S.N. Kabra & Co For Board of Directors of Vandana Knitwear Ltd.
Chartered Accountants
Naresh Kumar Gattani Charul Gattani
CA Satyanarayan Kabra Managing Director Director
F R No.: 003439C M. No.: 072497
Date: 17/05/2024 Kirti Agarwal Archit Patodi
Place: Indore Company SEcretary CFO