ADELEV8 / Executive Financial Audit
15thaugustreport.adelev8.com 15 August 2026
Executive Scope: Reconciled GST revenue, accounts receivable (ToyTree ERP ₹2,05,320, Incitec ₹10k, Framez ₹5k, TicketMan ₹1.10L), SMM tools & production expenses suite, operating cash position, and corporate entity registration roadmap.
Confidential • Prepared for Vaibhav Bhalki
Total Incomings Realized 91.6% Collected
₹3,82,180
Gross collections deposited in Kotak Mahindra Bank
Total Invoiced (Gross) 8 Tax Invoices
₹4,17,280
Taxable: ₹3,56,769.49 • GST: ₹60,510.51
Net Operating Cash Balance In Bank
₹1,68,746
Retained in Kotak Mahindra Bank (A/C: 6052859580)
Accounts Receivable (Billed Due) Pending
₹34,200
Framez (₹23.6k) + Incitec (₹10.6k) balance due
Contracted Pipeline Unbilled Milestones
₹3,09,170
TicketMan 60%, ToyTree 60%, Spares91, SMM
Unbilled Pitch Losses Written Off
₹86,000
Bengaluru Wonderland, Ksemya Spa, unbilled logos

GST Invoices Master Ledger

All historical tax invoices and proformas with exact taxable values, GST calculations, realized receipts, and balances.

Invoice # Date Client Name & GSTIN Project Description HSN/SAC Taxable (₹) GST (₹) Gross Total (₹) Received (₹) Balance Due (₹) Status
TOTALS ₹3,56,769.49 ₹60,510.51 ₹4,17,280.00 ₹3,82,180.00 ₹34,200.00 91.6% Realized

Realized Incomings

Total verified client receipts deposited in bank

₹3,82,180.00
Client / Milestone Date Received (₹)
ToyTree Custom ERP Platform (40%)
Deployment & architecture closure
18-Jul-2026 ₹2,05,320.00
TicketMan Platform Handover (40%)
LiveTree Entertainment Studios LLP
20-Jul-2026 ₹1,10,920.00
The Indian Souvenir Store
E-commerce storefront delivery
06-Jul-2026 ₹29,500.00
ToyTree Website Development (40%)
mytoytree.com initial milestone
07-Jul-2026 ₹12,000.00
Incitec Web & 4-Yr Domain (Part)
Domain & setup (₹10k received of ₹20.6k)
07-Jul-2026 ₹10,000.00
LiveTree Organic SMM Retainer (50%)
Month 1 initial retainer
23-Jul-2026 ₹9,440.00
Frame Events SEO & Domain Audit
Kickoff technical audit
10-Jul-2026 ₹5,000.00

Operational Outgoings & Taxes

Itemized expenditures including AI & SMM production suite

₹2,13,434.00
Category Expense Item & Vendor Amount (₹)
Net Operating Cash Balance: ₹1,68,746.00
Operating surplus maintained in Kotak Mahindra Bank for working reserves and corporate capitalization.

Accounts Receivable & Project Pipeline

Pending collections on billed invoices, contracted milestone balances, and enterprise proposals.

Total Pipeline: ₹14,22,470.00
Client Project Scope Milestone Description Base Due (₹) GST (₹) Gross Total (₹) Target Timeline Status

Liquidity Realization Simulator

Interactive model projecting bank balances based on recovery rates of near-term receivables (₹3.09L contracted + ₹34.2k billed due).

Collection Realization Percentage: 90%
0% (No Recovery) 50% (Conservative) 90% (Target) 100% (Full Realization)
Current Bank Liquidity: ₹1,68,746.00
Simulated Near-Term Inflow: ₹3,09,033.00
Forecasted Bank Balance: ₹4,77,779.00

Audited Write-Offs & Unbilled Work

Historical record of exploratory pitches, unbilled brand assets, and root cause policy reforms.

Total Loss: ₹86,000.00
Project / Concept Client / Account Scope Delivered Commercial Value (₹) Accounting Treatment Root Cause & Prevention Rule
TOTAL SPECULATIVE WORK WRITTEN OFF ₹86,000.00 Mandating 40% non-refundable kickoff retainer on all exploratory work.
01
Mandatory 40% Advance Retainer
No Figma wireframes, brand conceptualization, or repository initialization without signed purchase order and 40% non-refundable advance.
02
25% Project Kill-Fee Clause
Standard service agreements must stipulate that if a client cancels a project mid-way, 25% of the total contract value is due as a termination settlement.
03
Standardized Itemized Rate Card
Secondary deliverables (stationery sets, social teasers, AI voiceovers) must be billed against approved per-unit rate cards (ADV-AIC-RATECARD-2026).

Corporate Balance Sheet

Statement of financial position as of August 15, 2026

Balanced: ₹3,58,846.00
ASSETS
I. CURRENT ASSETS
Cash & Bank Balances (Kotak Bank A/C 6052859580) ₹1,68,746.00
Accounts Receivable (Billed Invoices Due) ₹34,200.00
Unbilled Work-in-Progress (Active Sprint Milestones) ₹98,900.00
Current Assets Subtotal ₹3,01,846.00
II. NON-CURRENT & INTANGIBLE ASSETS
Digital IP, Domains (incitec, toytree, adelev8) & Prepaid Subscriptions ₹57,000.00
Non-Current Assets Subtotal ₹57,000.00
TOTAL ASSETS ₹3,58,846.00
LIABILITIES & PROMOTER'S CAPITAL
I. CURRENT LIABILITIES
Statutory GST Output Liability Payable ₹19,800.00
Deferred Revenue / Milestone Advance Balances ₹64,000.00
Vendor, Cloud Infrastructure & Tool Payables ₹15,200.00
Current Liabilities Subtotal ₹99,000.00
II. PROMOTER'S CAPITAL & RESERVES
Initial Capital Contribution (Vaibhav Bhalki) ₹1,00,000.00
Retained Operating Profits (Net Operating Surplus) ₹1,59,846.00
Promoter's Capital Subtotal ₹2,59,846.00
TOTAL LIABILITIES & EQUITY ₹3,58,846.00

Corporate Structure Evaluation

Private Limited Company vs Limited Liability Partnership (LLP)

Pvt Ltd Recommended
Evaluation Metric Private Limited Company LLP
Legal Liability Complete corporate ringfence Limited liability
Tax Rate 22% Base Corporate Tax 30% Flat Tax Rate
Enterprise Procurement Mandatory for Tier-1 (Jain CMS/Godrej) Limited institutional appeal
Equity & Cap Table Clean share structure & ESOPs No stock option capability
Startup India (80-IAC) 3-Year 100% Tax Holiday eligible Ineligible for 80-IAC

10-Day Incorporation Roadmap

Execution timeline to Certificate of Incorporation (COI)

Target: Next 10 Days
01
Days 1–2: DSC & Name Approval
Class-3 DSC for Vaibhav Bhalki. SPICe+ Part A filing for ADELEV8 DIGITAL PRIVATE LIMITED.
02
Days 3–5: MOA, AOA & Corporate Governance Charter
Draft tech/AI objects, charter capital, and 100% IP assignment for all past frameworks and domains.
03
Days 6–8: SPICe+ Part B & AGILE-PRO-S
Single-window MCA filing for COI, Corporate PAN/TAN, EPFO, ESIC, Karnataka PT, and corporate bank mandate.
04
Days 9–10: COI, Current Account & GSTIN
Receipt of COI & CIN, corporate bank account activation, and transition of all client contracts to dedicated GSTIN.
Capital & Ownership Structure
  • Promoter: Vaibhav Bhalki
  • Authorized Capital: ₹1,00,000 (10,000 Equity Shares @ ₹10)
  • Paid-Up Capital: ₹1,00,000 initial equity infusion
  • Corporate Governance: Direct board governance
IP & Financial Control
  • 100% IP Assignment: All code, designs, and domains transferred to entity
  • Dual Authorization: Formal approval mandatory for expenses > ₹25,000
  • Bank Mandate: Corporate current account at ICICI/HDFC/Kotak
  • Asset Ringfence: Complete personal liability protection
Compliance Retainer & SLA
  • Retainer CA: ~₹2,500/mo for monthly GSTR-1, GSTR-3B & TDS filings
  • Annual ROC & Audit: AOC-4, MGT-7 & statutory balance sheet audit
  • MSME Udyam: 45-day payment protection rule under Sec 43B(h)
  • Zero Personal Exposure: Ringfenced corporate entity books