The following is the Trial Balance of Shivam Ltd as on 31st March, 2024 : Particulars Dr. (000) Particulars Cr. (000) Land at Cost 148 Equity Share…

Shivam Limited Balance Sheet as at 31st March 2024 Particulars Note No. ₹ (in 000) I. Equity and Liabilities 1. Shareholders' funds (a) Share capital 1 300.00 (b) Reserves and Surplus 2 232.70 2. Non-Current liabilities (a) Long term borrowings 3 135.00 3. Current liabilities (a) Trade Payables 35.00 (b) Short-Term Provisions 30.30 Total 733.00 II. Assets 1. Non-current assets (a) Property, Plant and Equipment and Intangible assets (i) Property, Plant and Equipment 4 596.00 2. Current assets (a) Inventories 58.00 (b) Trade receivables 65.00 (c) Cash and cash equivalents 14.00 Total 733.00 Shivam Limited Statement of Profit and Loss for the year ended 31st March 2024 Particulars Notes ₹ (in '000) I. Revenue from operations 473.00 II. Other Income 5 1.00 III. Total Income 474.00 IV. Expenses: Purchases 226.00 Finance costs 14.00 Depreciation and Amortisation expenses (10% of 510*) 51.00 Other expenses 6 82.00 Total Expenses 373.00 V. Profit before Tax (III-IV) 101.00 Tax Expense: Current tax (30.30) Profit for the period (after tax) 70.70 * 520 (Plant and machinery at cost) – 10 (Cost of plant and machinery sold) Notes to accounts ₹ (in 000) 1. Share Capital Equity share capital Authorised 35,000 shares of 10each 350.00 Issued, subscribed & paid-up 20,000 shares of 10each fully paid up 200.00 Add: 10,000 Bonus Shares issued during the year 100.00 300.00 2. Reserves and Surplus Securities Premium Account Opening Balance 27.00 Less: Utilised for bonus issue 27.00 0.00 Revaluation reserve (2,45,000 – 1,48,000) 97.00 General Reserve 90 Less: Utilized for bonus issue (73) 17.00 Add: Transfer from Profit & loss @ 10% 7.07 24.07 Profit & loss Balance Opening balance 48.00 Profit for the period 70.70 Appropriations Transfer to General Reserve @ 10% (7.07) 111.63 232.70 3. Long term borrowing 10% Debentures 135.00 4. Property, Plant and Equipment Land Opening balance 148.00 Add: Revaluation adjustment 97.00 Closing balance 245.00 Plant and Machinery Opening balance 520.00 Less: Disposed off (10.00) 510.00 Less: Depreciation (1,16,000-8,000+51,000) (159.00) Closing balance 351.00 Total 596.00 5. Other Income Profit on sale of machinery: Sale value of machinery 3.00 Less: Book value of machinery (10,000-8,000) (2.00) 1.00 6. Other expenses: Factory expenses 40.00 Selling expenses 20.00 Administrative expenses 22.00 82.00 The final dividend will not be recognized as a liability at the balance sheet date (even if it is declared after reporting date but before approval of the financial statements) as per Accounting Standards. Hence, it has not been recognized in the financial statements for the year ended 31 March 2024. Such dividends will be disclosed in notes only.