Common use of The Accounts Clause in Contracts

The Accounts. (a) The Accounts have been derived from the accounting books and records of the Company, and have been prepared in accordance with the requirements of all relevant Laws then in force and with GAAP applied on a proper and consistent basis throughout the periods presented in the Accounts, and are based on the Company’s then existing accounting policies. (b) The balance sheets included in the Accounts give a true and fair view of the financial position of the Company as at the respective dates thereof, and the profit and loss account and the statement of cash flow included in the Accounts give a true and fair view of the results of operation and cash flows of the Company for the respective periods indicated therein. (c) The Accounts make full provision for or disclose all liabilities or obligations of any nature (whether accrued, absolute, contingent, disputed or otherwise and including financial lease commitments and pension liabilities), all outstanding capital commitments and all bad or doubtful debts of the Company, in each case in accordance with GAAP. (d) The results shown in the Accounts for each of the last 5 (Five) Financial Years ended on the Accounts Date were not (except as therein disclosed) affected by any extraordinary or exceptional item or by any other factor rendering such results for all or any of such periods unusually high or low. (e) The Company has appropriately accounted for inward and consumption of inventory and the cost of goods sold / inventory in the financial statements reflect the correct value of these items. (f) The Company has accounted for all interest expenses (including penalty, foreclosure charges, concessional interest recoupment etc.) in its Accounts, which is due and payable on loans availed in the historical period. (g) The Company has fully accounted for the costs associated to business development payable as commission / consultancy charges to individuals. (h) The Company has accounted for all expenses due and payable in the historical period for all heads of expenses while preparing the Financial Statements, both audited and provisional. (i) The inventory stated in the Accounts as at balance sheet date is valued at cost / net realisable value whichever is lower and represents physical quantities lying with the Company. (j) All the credit notes as on the date of this Agreement for Financial Year 2021 has been accounted and disclosed. (k) The Company has accounted for all the commission for sourcing of revenue in the historical period. (l) The Company has accounted for all Tax liabilities pertaining to the historical period.

The Accounts. The Accounts: (a) The Accounts have been derived from the accounting books and records of the Company, and have been prepared in accordance with all applicable laws and Relevant Accounting Standards and the requirements of all relevant Laws then in force Companies Act and with GAAP applied on a proper and consistent basis throughout the periods presented in the Accounts, and are based on the Company’s then existing accounting policies. (b) The balance sheets included in the Accounts give a true and fair view of the financial assets, liabilities, position and affairs of the Company and each Subsidiary as at the respective dates thereof, Balance Sheet Date and the profit profits and loss account and the statement of cash flow included in the Accounts give a true and fair view of the results of operation and cash flows losses of the Company for the respective periods indicated therein.period ended on the Balance Sheet Date; (b) are not affected by any unusual or non-recurring items; (c) The apply policies and estimation techniques of accounting which have been consistently applied in the audited financial statements of the Company and each Subsidiary and in the audited consolidated financial statements of the Company and each subsidiary for the three accounting reference periods ending on the Balance Sheet Date; (d) have been audited by an auditor or firm of accountants qualified to act as auditors in the United Kingdom and the auditors’ report required to be annexed to the Accounts is unqualified; (e) make full provision for or note or otherwise disclose all material actual liabilities or obligations of any nature and all material contingent, deferred and disputed liabilities (whether accruedliquidated or unliquidated) of which the Company was aware as at the Balance Sheet Date and in respect of which disclosure or provision is required under Relevant Accounting Standards; and (f) make adequate provision for debts then known or believed to be bad or doubtful, absoluteobsolete or slow-moving stocks and for depreciation on fixed assets; (g) do not overstate the value of current or fixed assets; (h) do not understate any liabilities (whether actual or contingent); (i) contain either provision adequate to cover, or particulars in notes of, all Taxation (including deferred Taxation) and other liabilities (whether quantified, contingent, disputed or otherwise and including financial lease commitments and pension liabilities), all outstanding capital commitments and all bad or doubtful debts otherwise) of the Company, in Company and each case in accordance with GAAP. (d) The results shown in the Accounts for each of the last 5 (Five) Financial Years ended on the Accounts Date were not (except as therein disclosed) affected by any extraordinary or exceptional item or by any other factor rendering such results for all or any of such periods unusually high or low. (e) The Company has appropriately accounted for inward and consumption of inventory and the cost of goods sold / inventory in the financial statements reflect the correct value of these items. (f) The Company has accounted for all interest expenses (including penalty, foreclosure charges, concessional interest recoupment etc.) in its Accounts, which is due and payable on loans availed in the historical period. (g) The Company has fully accounted for the costs associated to business development payable as commission / consultancy charges to individuals. (h) The Company has accounted for all expenses due and payable in the historical period for all heads of expenses while preparing the Financial Statements, both audited and provisional. (i) The inventory stated in the Accounts Subsidiary as at balance sheet date is valued at cost / net realisable value whichever is lower and represents physical quantities lying with the Company.Balance Sheet Date; and (j) All have been filed in accordance with the credit notes as on the date requirements of this Agreement for Financial Year 2021 has been accounted and disclosedapplicable laws. (k) The Company has accounted for all the commission for sourcing of revenue in the historical period. (l) The Company has accounted for all Tax liabilities pertaining to the historical period.

The Accounts. (a) The Audited Accounts have been derived from the accounting books and records of the Company, and have been prepared in accordance with the requirements laws of all relevant Laws then in force Singapore and with GAAP applied on a proper and consistent basis throughout the periods presented in the Accountsaccordance with proper accounting principles, standards and are based on the Company’s then existing accounting policies. (b) The balance sheets included practices generally accepted in the Accounts Singapore so as to give a true and fair view of the financial position state of affairs of the Company as at the respective dates thereof, Balance Sheet Date and of the profit or loss for the period concerned. (b) The Audited Accounts as at the date of the Agreement: (i) Comply with the requirements of the Companies Act (Cap.50); (ii) Are accurate in all material respects and loss account show a true and complete and fair view of the statement state of cash flow affairs financial position assets and liabilities of the Company and of its results for the financial period ending on the Balance Sheet Date; (iii) As at the Balance Sheet Date are not affected by any unusual or non-recurring items; (iv) Make full provision for depreciation of the fixed assets of the Company having regard to their original cost and estimated life; (v) Make due provision for any bad or doubtful debts; (vi) Fully disclose all assets of the Company as at the Balance Sheet Date; and (vii) Set out correctly all such reserves or provisions for Taxation as are necessary on the basis of the rates of tax now in force to cover all Taxation (present and future) in respect of any transaction occurring prior to the Balance Sheet Date liable to be assessed on the Company or for which the Company is accountable up to such date. (c) In the Audited Accounts: (i) any slow moving stock has been written down appropriately and redundant obsolete or unsaleable stock and irrecoverable work-in-progress costs have been wholly written off and (ii) the value attibuted to the remaining stock new materials and work-in-progress does not exceed the lowest of cost (on a first in first out valuation) or net realisable value or replacement price at the Balance Sheet Date and (iii) the same basis was adopted for the valuation of stock and work-in-progress as had been adopted in the preparation of all audited accounts of the Company laid before the Company in general meeting for the financial periods ending prior to the date of this Agreement or for each accounting period since incorporation. (d) All liabilities or outstanding capital commitments of the Company as at the Balance Sheet Date have been included in the Audited Accounts give by way of full provision or reserve or (in the case of such a liability as was contingent unquantified or disputed) by way of note stating the maximum amount which has been or could be claimed and the best estimate of the directors (after taking all relevant professional advice) of the likelihood of such a claim materialising or being successful. (e) No asset of the Company has been acquired for any consideration in excess of its market value at the date of is acquisition or otherwise than by way of bargain at arm's length. (f) Each of the book debts shown in the Audited Accounts and such other book debts relating to the period up to and including the Completion Date will realise in the normal course of collection their nominal value less the value attributed to any reserve for bad or doubtful debts included in the Audited Accounts and none of the book debts is subject to any counter-claim or set-off. (g) No event has occurred during the period covered by the Audited Accounts that has resulted in the profits of the Company in respect of such period being abnormally high or low. (a) The management accounts: (i) have been prepared on a basis wholly consistent with that warranted as adopted in the preparation of the Audited Accounts and (ii) are accurate in all material respects and show a true and fair view of the results of operation assets and cash flows liabilities of the Company and of its results for the respective periods indicated therein.financial period ending on the Completion Date and (ciii) The Accounts make full provision or reserve for all liabilities and other matters warranted as provided for or disclose all reserved in the Audited Accounts such that the Company has no liabilities or obligations of any nature (whether accrued, absolute, contingent, disputed whatsoever other than those disclosed or otherwise provided for in the management accounts. 4.3 The accounting and including other books ledgers financial lease commitments and pension liabilities), all outstanding capital commitments and all bad or doubtful debts other records of the Company, in each case in accordance with GAAP. (d) The results shown in the Accounts for each of the last 5 (Five) Financial Years ended on the Accounts Date were not (except as therein disclosed) affected by any extraordinary or exceptional item or by any other factor rendering such results for all or any of such periods unusually high or low. (e) The Company has appropriately accounted for inward and consumption of inventory and the cost of goods sold / inventory in the financial statements reflect the correct value of these items. (f) The Company has accounted for all interest expenses (including penalty, foreclosure charges, concessional interest recoupment etc.) in its Accounts, which is due and payable on loans availed in the historical period. (g) The Company has fully accounted for the costs associated to business development payable as commission / consultancy charges to individuals. (h) The Company has accounted for all expenses due and payable in the historical period for all heads of expenses while preparing the Financial Statements, both audited and provisional.:- (i) The inventory stated Are in the Accounts as at balance sheet date is valued at cost / net realisable value whichever is lower and represents physical quantities lying with the Company.its possession; (jii) All have at all times been properly and fully written up; (iii) accurately present and reflect in accordance with generally accepted accounting principles and standards and the credit notes as on Companies Act (Cap.50) all of the date of this Agreement for Financial Year 2021 transactions entered into by the Company or the transactions to which the Company has been accounted a party and disclosed.its financial contractual and trading position; and (kiv) The Company has accounted have been held for all the commission for sourcing of revenue in periods required by the historical periodCompanies Act (Cap.50). (l) The Company has accounted for all Tax liabilities pertaining to the historical period.

The Accounts. (a) 1.1 The Accounts have been derived from the accounting books and records of the Company, and have been prepared in accordance with the requirements of all relevant Laws then in force laws and with GAAP applied on a proper and consistent basis throughout the periods presented in the Accounts, generally accepted statements of standard accounting practice and are based on the Company’s then existing accounting policies. (b) The balance sheets included complete and accurate in the Accounts give all respects and show a true and fair view of the financial position state of affairs of the Company as at Vendors and Sind▇ (▇▇ the respective dates thereof, case may be) (the "RELEVANT ENTITY") and of its results and profits for the profit financial period ending on the Accounting Date and loss account and the statement of cash flow included in the Accounts give a true and fair view depreciation of the results of operation and cash flows fixed assets of the Company for Relevant Entity has been made at a rate sufficient to write down the respective periods indicated thereinvalue of such assets to nil not later than the end of their useful working lives. (c) 1.2 The Accounts disclose and make full provision or reserve for all actual liabilities of the Relevant Entity. 1.3 The Accounts disclose and make full provision or reserve for or disclose note all liabilities or obligations of any nature (whether accrued, absolute, contingent, unquantified or disputed liabilities and capital or otherwise and including financial lease burdensome commitments and pension liabilities), all outstanding capital commitments and all bad or doubtful debts of the Company, in each case in accordance with GAAPRelevant Entity. 1.4 The bases and policies of accounting of the Relevant Entity (dincluding depreciation and valuation of stock and work in progress) The results shown in adopted for the purpose of preparing the Accounts are the same as those adopted for the purpose of preparing the audited accounts of the Relevant Entity for each of the last 5 (Five) Financial Years ended on 3 preceding accounting periods. 1.5 The profits and losses of the Relevant Entity shown by the Accounts Date were and for the last 3 preceding accounting periods have not (except as therein disclosed) in any material respect been affected by any extraordinary unusual or non-recurring or exceptional item or by any other factor rendering matter which has rendered such results for all profits or any of such periods losses unusually high or low. (e) 1.6 The Company has appropriately accounted for inward and consumption of inventory Business and the cost Sind▇ ▇▇▇iness (the Business and the Sind▇ ▇▇▇iness are herein referred to as the "WARRANTED BUSINESS") have no liabilities, obligations or contingencies of goods sold / inventory any kind, whether absolute, contingent, unaccrued, asserted or unasserted, or otherwise, except liabilities, obligations or contingencies that were in existence on the Accounting Date and are fully accrued or reserved in the financial statements reflect Accounts, or that have been incurred after such date in the correct value ordinary course of these itemsthe Warranted Business. (f) 1.7 The Company has accounted for all interest expenses (including penalty, foreclosure charges, concessional interest recoupment etc.) in its Accounts, which is due and payable on loans availed in the historical period. (g) The Company has fully accounted for the costs associated to business development payable as commission / consultancy charges to individuals. (h) The Company has accounted for all expenses due and payable in the historical period for all heads of expenses while preparing the Financial Statements, both audited and provisional. (i) The inventory stated in the Accounts as at balance sheet date is valued at cost / net realisable value whichever is lower and represents physical quantities lying with the Company. (j) All the credit notes as on the date of this Agreement for Financial Year 2021 has been accounted and disclosed. (k) The Company has accounted for all the commission for sourcing of revenue in the historical period. (l) The Company has accounted contain full provision for all Tax liabilities pertaining in relation to the historical periodWarranted Business including deferred or provisional taxation liable to be assessed on the Relevant Entity for the accounting period ended on the Accounting Date or for any subsequent period (on the basis of the rates of Tax and taxation statutes in force at the Accounting Date) in respect of any transaction, event or omission 48 52 occurring or any income or profits or gains earned, accrued or received by the Relevant Entity on or prior to the Accounting Date or for which the Relevant Entity is accountable up to such date and all contingent liabilities for Tax have been provided for or disclosed in the Accounts. 1.8 The Management Accounts have been prepared in accordance with the accounting policies of the Relevant Entity which are set out in the relevant Accounts and on a consistent basis with the monthly management accounts of the Relevant Entity and show a fair view of the assets and liabilities and profits or losses of the Business as at and to 30 April 2000. 1.9 The Sind▇ ▇▇▇ch Accounts have been prepared in accordance with the accounting policies of Sind▇ ▇▇▇ch are set out in the Sind▇ ▇▇▇ember Accounts and on a consistent basis with the Sind▇ ▇▇▇ember Accounts and show a fair view of the assets and liabilities and profits or losses of Sind▇ ▇▇ at and to 31 March 2000.