SIGNIFICANT ACCOUNTING POLICIES:

1. Basis of Preparation of Financial Statements:

The financial statements of the Company have been brpared in accordance with the Generally Accepted Accounting Principles in India, to comply with the applicable mandatory Accounting Standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules,2014 and the relevant provisions of the Companies Act, 2013. The accounting policies adopted in the brparation of financial statements are consistent with those followed in the brvious year, except wherever specified.

2. Going Concern :

The financial statements are brpared on a going concern basis. The management of the Company believes that, the Company will continue to operate as a going concern and will be in a position to meet all its liabilities as they fall due for payment.

3. Use of Estimates:

In brparing the Company's financial statements in conformity with the accounting principles generally accepted in India, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Any revision to accounting estimates is recognised prospectively in the current and future periods.

4. Fixed Assets:

Fixed Assets is stated at cost of acquisition (net of CENVAT, wherever applicable) as reduced by accumulated debrciation. The cost of assets includes other direct/indirect and incidental cost incurred to bring them into their working condition.

When assets are disposed or retired, their cost is removed from the financial statements. The gain or loss arising on the disposal or retirement of an asset is determined as the difference between sales proceeds and the carrying amount of the asset and is recognised in Statement of Profit and Loss for the relevant financial year.

5. Debrciation:

In respect of fixed assets acquired during the year, debrciation/ amortization is charged on a straight line basis so as to write off the cost of the assets over the useful lives as brscribed in Schedule II of the Companies Act, 2013 and for the assets acquired prior to April 1, 2014, the carrying amount as on April 1, 2014 is debrciated over the remaining useful life of the assets. Debrciation on grant portion of the assets is adjusted to the grant account.

6. Revenue Recognition:

Revenue is recognised when practically all risk and rights connected with ownership have been transferred to the buyer. This usually occurs upon dispatch, after the price has been determined and collection of the sales proceeds is reasonable certain.

i. Interest Income

Interest Income is recognized on accrual basis.

7. Earning Per Share:

Basic earnings per share is calculated by dividing net profit after tax for the year attributable to Equity Shareholders of the company by the weighted average number of Equity Shares issued during the year. Diluted earnings per share is calculated by dividing net profit attributable to equity Shareholders (after adjustment for diluted earnings) by average number of weighted equity shares outstanding during the year.

8. Provisions, Contingent Liabilities and Contingent Assets:

A provision is recognized when there is a brsent obligation as a result of past event and it is probable that an outflow of resources will be required to settle the obligation, in respect of which a reliable estimate can be made.

A disclosure for a contingent liability is made when there is a possible or brsent obligation that may, but probably will not require an outflow of resources.

Contingent Assets are neither recognized nor disclosed in the financial statements

9. Income Tax

Provision for current tax is made after taking into consideration benefits admissible under the provision of the Income Tax Act, 1961.

NOTES FORMING PART OF ACCOUNTS:

(1) The Company follows accrual systems of accounting.

(2) The Financial statements are brpared under the historical cost convention in accordance with the normally accepted Accounting principles.

(3) The recognition of revenue from the contract is by reference to the contract signed by the Company.

(4) Wherever original bills/Vouchers were not available during the test checks applied during the course of our audit, we relied on the bills/vouchers brpared, produced and certified by the management.

(5) Fixed Assets & Debrciation.

The entity does not have any Fixed Assets for the period under consideration.

(6) The Company reports basic earning per share in accordance with AS-20 "Earning per Share" issued by the Institute of Chartered Accountants of India by dividing Net Profit with weighted average number of shares outstanding during the year. The number of shares used for the purpose of computation of Earning Per Share is 62,40,000 Shares (Previous year -2,40,000 Shares).

(7) Provision for Taxation:

The Company has not recognized any Deferred Tax Assets / Deferred Tax Liabilities on timing differences between accounting income and taxable income as the components for the same are not brsent for the year under consideration. The entity will recognise Deferred Tax Assets and Liabilities when there is a virtual certainty that sufficient future taxable income will be available against which such Deferred Tax Assets can be realized.

(8) Contingencies and Capital Commitments:

As per the management, there were no Contingencies / Capital Commitments as on 31st March, 2015.

(9) The Company has not received information from vendors regarding their status under the Micro, small and medium enterprises Development Act, 2006 and hence disclosure relating to amounts unpaid as at the year end together with interest paid / payable under this act, have not been given.

(10) Balances are subject to confirmation.

(11) Previous year's figures have been regrouped and rearranged wherever necessary, to make them comparable with those of current year.

AS PER OUR ATTACHED REPORT OF EVEN DATE

FOR AND ON BEHALF OF

FOR ASHOK RAJPARA & ASSOCIATES

CHARTERED ACCOUNTANTS

FIRM REG. NO: 116124W

SD/- ASHOK RAJPARA

 PROPRIETOR

MEMBERSHIP NO. 100559

FOR SHIVANSH FINSERVE LTD.

 (Formerly Mansarovar Financial Services Limited)

SD/- DIRECTOR

SD/ DIRECTOR

DATE : 29/05/2015

PLACE: AHMEDABAD