Heritage Foods Limited | 30th Annual Report 2021-22

30 th Annual Report 2021-22 Heritage Foods Limited 232 (ii) Summarised Statement of Profit and Loss For the year ended 31 March 2022 31 March 2021 Total income 23.49 1.17 Expenses Cost of materials consumed 15.33 1.26 Changes in inventories of finished goods (0.04) (0.27) Employee benefits expense 38.33 18.56 Other expenses 55.41 18.32 Others 35.14 7.46 Total expenses 144.17 45.33 Loss before tax (120.68) (44.16) Tax expense - - Loss for the year (120.68) (44.16) Other comprehensive income for the year - - Total comprehensive loss for the year (120.68) (44.16) (c) Reconciliation of carrying amounts As at 31 March 2022 31 March 2021 Opening net assets 249.51 152.73 Equity shares issued during the year 209.30 132.60 Loss for the year (120.68) (44.16) Other adjustments made directly to equity 0.50 8.34 Closing net assets 338.63 249.51 Group’s share in % 50.00% 50.00% Group’s share in closing net assets 169.32 124.76 Other adjustments 4.55 4.30 Carrying amount (refer note 9) 173.87 129.06 (d) Commitments in respect of a joint venture As at 31 March 2022 31 March 2021 Commitment to provide Group’s share of funding for joint venture’s capital com- mitments, if called for 4.60 0.86 The joint venture had no contingent liabilities as on 31 March 2022 and 31 March 2021. 49. Interest in an immaterial associate Group has interest in a single associate (“SKIL”), which, in the opinion of the Holding Company’s Board of Directors, is immaterial to the Group. The Group’s share in loss after tax and other comprehensive income for the year is ` Nil (31 March 2021: ` 0.08) and ` Nil (31 March 2021: ` Nil) respectively in respect of such associate. 50. Segment reporting The Chief Operating Decision Maker (“CODM”) evaluates the Group’s performance and allocates the resources based on an analysis of various performance indicators by reportable segments. The measurement of each segment’s revenue, expenses, assets and liabilities is consistent with the accounting policies that are used in preparation of the Group’s consolidated financial statements. The Group has been organised into different verticals based on its products. Three verticals have been identified as reportable operating segments by the Group, which are as follows: Summary of the significant accounting policies and other explanatory information (All amounts in ` millions, except share data and where otherwise stated)