INDEPENDENT
AUDITOR’S REPORT
To the
Members of
COMPANY
Report on Financial Statements
We
have audited the accompanying financial statements of COMPANY which comprises
the Balance Sheet as at 31st March 2015, the Profit and Loss a/c and
cash flow statement for the year then ended and a summary of significant
accounting policies and other explanatory information.
Management’s
Responsibility for the Financial Statements
The
Company’s Board of Directors are responsible for the matters stated in section
134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation
of these financial statements that give a true and fair view of the financial
position and financial performance and cash flow of the company in accordance
with the accounting principles generally accepted in India, including
Accounting Standards specified under section 133 of the Act, read with Rule 7
of Companies (Accounts) Rules, 2014. This Responsibility also includes
maintenance of adequate accounting records in accordance with the provisions of
the Act for safeguarding of the assets of the Company and for preventing and
detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that are
reasonable and prudent; and design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for ensuring the
accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the financial statements that give a true and
fair view and are free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
Our
responsibility is to express an opinion on these financial statements based on
our audit.
We
have taken into account the provisions of the Act, the accounting and auditing
standards and matters which are required to be included in the audit report
under the provisions of the Act and the Rules made there under.
We
conducted our audit in accordance with the Standards on Auditing specified
under Section 143(10) of the Act. Those standards require that we comply with
ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free from material misstatement.
An
audit involves performing procedures to obtain audit evidence about the amounts
and disclosures in the financial statements. The procedures selected depend on
the auditor’s judgment, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In
making those risk assessments, the auditor considers internal financial control
relevant to the company’s preparation and presentation of the financial
statements that give a true and fair view in order to design audit procedures
that are appropriate in the circumstances. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of the
accounting estimates made by management, as well as evaluating the overall
presentation of the financial statements.
Cont…2…
…2…
We
believe that the audit evidence we have obtained is sufficient and appropriate
to provide a basis for our audit opinion on the financial statements.
Opinion
In
our opinion and to the best of our information and according to the
explanations given to us, the aforesaid financial statements give the
information required by the Act in the manner so required and give a true and
fair view in conformity with the accounting principles generally accepted in
India.
1. In the case of
the Balance Sheet, of the state of affairs of the company as at 31st
March 2015 and
2. In the case of
the Profit and Loss Account, of the Profit for the year ended on that date
3. In the case of
Cash Flow Statement, of the cash flow for the year ended on that date
Report on Other Legal and Regulatory Requirements
1. As
required by the companies (Auditor’s Report) Order, 2015 (“the Order”) issued
by the central government of India in terms of sub-section (11) of section 143
of the Companies Act 2013, we give in the Annexure a statement on the matters
specified in paragraphs 3 and 4 of the Order, to the extent applicable.
2. As
required by section 143(3) of the Act and Companies (Audit and Auditors) Rule
2014, we report that:
a.
We have sought and obtained all the
information and explanations which to the best of our knowledge and belief were
necessary for the purpose of our audit.
b.
In our opinion proper books of
accounts as required by law, have been kept by the company so far as appears
from our examination of the books of account.
c.
The Balance Sheet and the Profit and
Loss Account dealt with by the report are in agreement with books of accounts.
d. In
our opinion, the aforesaid financial statements comply with the Accounting
Standards specified under Section 133 of the Act, read with Rule 7of the
Companies (Accounts) Rule, 2014.
e. In
our opinion, there are no adverse observations and comments on the financial
transactions of the matters which have adverse effect on the functioning of the
company
f. On
the basis of the written representations received from the Directors as on
March 31, 2015 taken on record by the board of Directors, none of the directors
is disqualified as on March 31, 2015 from being appointed as a director in
terms of sub section (2) of section 164 of the Companies Act 2013
g. In
our opinion, there are no qualifications, reservation or adverse remark
relating to maintenance of accounts and other matter connected therewith.
Cont…3…
…3…
h.
With respect to the
other matters to be included in the Auditor’s Report in accordance with Rule 11
of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the
best of our information and according to the explanations given to us:
i) The
Company does not have any pending litigations which would impact its financial
position.
ii) The
Company did not have any long-term contracts including derivative contracts for
which there were any material foreseeable losses.
iii) There
were no amounts which were required to be transferred to the Investor Education
and Protection Fund by the Company.
For FIRM Chartered
Accountants
(FRN:)
Place: New Delhi (NAME)
Dated: Prop. M.
No.
Cont…4…
…4…
Annexure to
Independent Auditor’s Report referred to in paragraph ‘1’ under the heading of
“Report on Other Legal and Regulatory Requirements” of our report of even date
1. The
Company has maintained proper records showing full particulars including
quantitative details and situation of the fixed assets. All the fixed assets
have been physically verified during the year by the management & no
material discrepancy between book records & physically verification was
noticed. The company has not disposed off any asset during the year.
2. As
per information and explanation given to us, the Stock of fire fighting &
safety equipments has been physically verified by the management during the
year at reasonable interval. The procedures of physical verification of stock
followed by the management are reasonable and adequate in relation to the size
of the company and nature of its business. The company is maintaining proper
records of stock and shares and no discrepancy was found between the physical
balance and book balance.
3 The
company has not granted any interest free loan to any party covered in the
register maintained u/s 189 of the Act 2013.
4. In
our opinion and according to the Information and explanations given to us,
there are adequate internal control procedures commensurate with the size of
the company and to the nature of its business with regard to purchase and sale
of goods and fixed assets.
- In our opinion
and as per the information and explanations given to us, the company has
not accepted any deposits from the public.
- The Central
Government of India has not prescribed the maintenance of cost records
under Section 148(1) of the Act for any of the services rendered by the
Company.
7.
a. According to information and
explanation given to us, no undisputed amount is payable in respect of provident
fund, investor Education & protection fund, ESI, Income tax, Sales tax, Wealth
tax, Service tax, Custom duty, Excise duty, Cess and any other statutory dues
with appropriate authorities were outstanding as at 31st March 2015
for a period of more than six months from the date they became payable.
b.
According to the records of the company, there are no dues of sales tax, income tax, customs tax, wealth-tax,
service-tax, excise duty, Cess which have not been deposited on account of any
dispute.
c. According to the
information and explanation given to us, there was no amount required to be
transferred to Investor Education and Protection Fund in accordance with the
relevant provision of Companies Act 1956 and Rules made there under.
8.
The company did not have any
accumulated loss at the end of the year. The Company has neither incurred any
cash losses during the year under audit nor in the immediately preceding
previous year.
9.
On the basis of examination of records, we are
of the opinion that the company has not defaulted in repayment of loan taken
from bank.
Cont…5…
…5…
- According to the information and
explanations given to us, the company has not given any guarantee for
loans taken by others from banks or financial institutions.
- According to the information and
explanations given to us, the Company has taken a term loan for purchase
of car.
- Based upon the audit procedures followed
and information and explanations given by the management, we report that
no fraud on or by the company has been noticed or reported during the
course of our audit.
For FIRM Chartered
Accountants
(FRN:)
Place: New Delhi (NAME)
Dated: Prop. M.
No.
