IND AS 37 - Provisions, Contingent Liabilities and Contingent Asset:

a) The new management has infused funds in the form of loan to meet various statutory, legal
and compliance etc expenses. The same with interest to be converted into the equity shares
at face value which approved by the shareholders of the company in the AGM dtd 9^th FEB
2024 and subject to concern competent authorities. Otherwise, shall be returned as per loan
agreement 8^th Dec, 2023.

b) The Company is pursuing with the income tax department to settle dues which has been
pending in the reign of old management Rs. 13.79 Lacs as on the date of Balance Sheet. For
this no provision made in accounts and the same will treated in books as and when it is
settled. The details are as follows:

• IND AS 108 - operating Segments.

The Company has only one segment and hence no separate segment reporting required .

C. Additional notes forming part of Balance sheet & Profit & Loss :

Corporate information and changes in Management:

• CUPID BREWERIES AND DISTILLERIES LIMITED (the "Company") is a public
limited company domiciled in India and incorporated under the provisions of the Indian
Companies Act having CIN number L51900MH1985PLC036665.

• The registered office of the Company has been shifted now to Block No 2, Parekh
Nagar, Near BMC Hospital, S V Road, Kandivali West, Mumbai- 400067, (Maharashtra).

• The company intends to diversify into the new business vertical in the Brewery and
Distillery sector. To facilitate this, the company amended its Memorandum of Association
(MOA) and Article of Association (AOA) during the Extraordinary General Meeting (EGM)
held on May 09, 2024. Consequently, the company has changed its name from Cupid Trades
and Finance Limited to Cupid Breweries and Distillery Limited, which was approved by the
Registrar of Companies (ROC) on July 02, 2024.

• Delisting Committee of BSE LTD had passed an order dated 05.01.2024 to comply
with the various statutory obligations mentioned therein along with the payment of Annual
Listing fees, Re-instatement fees and SEBI SOP fines etc within 03 months from the date of
receipt of this Order. For which Company has made following payment and submitted the
required documents to the exchange.

Further Company has paid BSE Annual Listing Fees for FY 2024-25 of Rs. 3,45,150/-on
28^th May, 2024.

• Consequent to above actions, Company's shares are now under process if re listing on BSE
as the same has been suspended since 2015 due to surveillance measure only and for that
Company is taking necessary actions by submitting revival plan and complying with the
formalities of SEBI. The company is currently in the process of completing all the other
formalities with the BSE.

• Inventories

The Company does not have any inventory

• Deferred Tax Provision: No Deferred tax is recognized on books of accounts.

• Balance Confirmations:

Wherever there is no balance confirmations for receivable/payables (Debit/Credits) from
pertains to related party transection , during the handover by the old Management to the
New Management, the same has been treated in books of Accounts accordingly. Other
Balances of Sundry Debtors, Creditors, Loans and Advances (Assets / Liabilities) are subject
to confirmation and reconciliation.

• Corporate Social Responsibility:

As per Section 135 of Companies Act, 2013 provisions regarding CSR are not applicable to
the company.

• This statement is as per Regulation 33 of the SEBI (Listing Obligation and Disclosure
Requirements) Regulations, 2015

• Going Concern :

The financial statements include any adjustments relating to the recoverability and
classification of recorded assets and to the amounts of liabilities that might be necessary be
able to continue its operations as a going concern.

• The Company has not traded or invested in Crypto currency or Virtual Currency
during the financial year.

• There were no transactions relating to previously unrecorded income that have been
surrendered and disclosed as income during the year in the tax assessments under the
Income Tax Act, 1961.

• The figures of previous period/year have been re-grouped / re-arranged and / or
recast wherever found necessary.

• The aforesaid Financial Result are being disseminated on the website of the
Company.

Signature to Notes 1 to 14 forming part of Balance sheet & Profit & Loss Account for the
year ended 31st March 2024.

As per our attached report even date.

For and on behalf of the Board
As per our report of even date _of Di_rect_ors

attached

Sd/- Sd/-

H. RAJEN & CO. Erramilli Prasad Venkatachalam Ninad Maruti Dhuri

Chartered Accountants Chairman cum Managing

Director

Director

Firm Registration No.: 108351W DIN: 08171117 DIN:09216629

Sd/- Sd/-

Rajendra Desai Sri Venkata Rajeswara Rao

Arun Kumar Director

Samavedam

Partner Director Director

Membership No. 011307 DIN:10347786 DIN: 03579283

Place: Mumbai Place: Mumbai

Date: 18th July 2024 Date: 18th July 2024

UDIN : 24011307BKEQYZ7949