You are here » Home » Companies » Company Overview » Aarcon Facilities Ltd

Aarcon Facilities Ltd.

BSE: 532024 Sector: Financials
NSE: N.A. ISIN Code: INE056J01015
BSE LIVE 10:06 | 29 Jan Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 6.19
PREVIOUS CLOSE 6.19
VOLUME 500
52-Week high 6.19
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 4
Buy Price 6.19
Buy Qty 100.00
Sell Price 0.00
Sell Qty 0.00
OPEN 6.19
CLOSE 6.19
VOLUME 500
52-Week high 6.19
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 4
Buy Price 6.19
Buy Qty 100.00
Sell Price 0.00
Sell Qty 0.00

Aarcon Facilities Ltd. (AARCONFACILIT) - Auditors Report

Company auditors report

To

The Members of

AARCON FACILITIES LIMITED

(Formerly Known as "R.B. GUPTA FINANCIALS LIMITED")

VADODARA

Report on the Financial Statements

We have audited the accompanying financial Statements of AARCON FACI LIMITEDwhich comprise the Balance Sheet as at 31st March 2016 the Staten Profit andLoss the Cash Flow Statement of the company for the year then endet summary ofsignificant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in section134(5) Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial statei that give a true and fair view of the financial position financialperformance and cash flc the Company in accordance with the accounting principlesgenerally accepted in including the Accounting standard specified under Section 133 of theAct read with Rul the Companies (Accounts) Rules2014. This responsibility also includesmaintenan adequate accounting records in accordance with the provisions of the Act forsafeguard the assets of the Company and for preventing and detecting frauds and otherirregular selection and application of appropriate accounting policies; making judgmentsand estin that are reasonable and prudent; and design implementation and maintenance ofadec internal financial controls that were operating effectively for ensuring theaccuracy completeness of the accounting records relevant to the preparation andpresentation c financial statements that give a true and fair view and are free frommaterial misstater whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit

We have taken into account the provisions of the Act the accounting and auditingstand and matters which are required to be included in the audit report under theprovisions of the and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under sec143(10) of the Act. Those Standards require that we comply with ethical requirements andand perform the audit to obtain reasonable assurance about whether the financialstatements

An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers internal financial control relevant to the Company's preparation of thefinancial statements that give a true and fair view in order to design audit proceduresthat are appropriate in the circumstances. An audit also includes evaluating theappropriateness of accounting policies used and the reasonableness of the accountingestimates made by the company's Directors as well as evaluating the overall presentationof the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide 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 explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the company as at 31stMarch 2016 its LOSS and its cash flows for the year ended on that date.

Emphasis of Matters

There are matters mentioned in Point no. 4 1011 & 12 of the Notes to theFinancial Statement which require attention of the members.

Report on Other Legal and Regulatory Requirements:

1. As required by the Companies {Auditor’s Report) Order 2016 {"theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure - A a statement on the matters specifiedin paragraph 3 and 4 of the Order.

2. As required by section 143(3) of the Act we report that:

a. We have sought and obtained all the information and explanation which to the best ofour 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 theCompany so far as it appears from our examination of those books;

c. The Balance Sheet the Statement of Profit & Loss and the Cash Flow Statementdealt with by this report are in agreement with the books of accounts;

d. In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e. On the basis of written representations received from the director as on31.03.2016 taken on record by the Board of Directors none of the directors aredisqualified as on March 2016 from being appointed as directors in terms of section 164(2) of the Act.

f. With respect to the adequacy of the internal financial controls over financialreportin the company and the operating effectiveness of such controls refer to our separeport in "Annexure B". v

g. In our opinion and to the best of our information and according to the explanationsgi to us we report as under with respect to other matters to be included in the AuditReportin accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014

i. The company does not have any pending litigations which would impact its finanposition.

ii. The Company did not have any long term contracts including derivative contractswhich there were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to be transferred toInvestor Education and Protection Fund by the Company.

FORAMIN PARIKH &CO.

CHARTERED ACCOUNTANTS

F.R.N. 100332W

CA. SAMIR R. PARIKH

PARTNER

M.NO.41506

VADODARA

DATED: May 302016

Annexure "A" to the Auditors Report

The Annexure "A" referred to in our report to the members of AARCONFACILITIES LTD. for the year ended on 31st March 2016. We report that:

i. a) In our opinion the Company has maintained proper records showing fullparticulars including quantitative details and situation of Fixed Assets on the basis ofavailable information.

b) As informed to us the fixed assets have been physically manner which in ouropinion is reasonable having regard to the size of company and nature of its assets. Nomaterial discrepancies were noticed on such physical verification.

c) According to the information & explanation given to us the title deeds ofImmovable properties are held in the name of company.

ii. As explained to us Inventories have been physically verified during the year bythe Management at reasonable intervals and no material discrepancies notices on physicalverification of inventories as compared to the book record.

iii. In our opinion and according to the information and explanation given to us thecompany has not granted any Loans secured or unsecured to Companies firms LimitedLiability Partnerships or other parties covered in register maintained pursuant to Section189 of the Companies Act 2013 and therefore the provisions of clause (iii) of the Orderare not applicable to the Company.

iv. In our opinion and according to the information and explanations given to us theCompany has not given any loan or guarantee or security. In respect of investments madethe Company has complied with the provisions of Section 186 of the Act.

v. In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits during the year from the public within the meaningof provisions of section 73 to 76 of the Companies Act2013 and the rules framedthereunder and therefore the provisions of clause (v) of the Order are not applicable tothe Company.

vi. The maintenance of cost records under sub section (1) of section 148 of theCompanies Act 2013 is not applicable in view of rule 3 of the Companies (Cost Records andAudit) Amendment Rules 2014 and therefore the provisions of clause (vi) of the Order arenot applicable to the Company.

vii. a) According to the information and explanation given to us and based on therecords of the Company examined by us the Company is regular in depositing withappropriate authorities undisputed statutory dues including Provident fund E.S.I. Incometax Sales tax Wealth tax Service tax Value Added Tax Custom duty Excise duty andother material statutory dues applicable to it with the appropriate authorities in India.

b) As at 31-3-2016 according to the information & explanation given by managementthere is no Disputed Dues.

viii. In our opinion and according to the information and explanation given to us theCompany has not defaulted in repayment of dues to banks. The Company did not have anyloans or borrowings from any financial institution government or by waj of debentures.

ix. In our opinion the Company did not raise any money by way of initial public offer01 further public offer (including debt instrument) and term loans during the year andtherefore the provisions of clause (ix) of the Order are not applicable to the Company.

x. In our opinion and according to the information and explanations given to us nomaterial fraud by the Company or on the Company by its officers or employees has beennoticed or reported during the course of our audit.

xi. In our opinion and according to the information and explanations given to us thecompany has paid or provided managerial remuneration in accordance with the requisiteapproval mandated by the provision of section 197 read with schedule V of The CompaniesAct 2013.

xix. In our opinion and according to information and explanation given to us theCompany is not a Nidhi company and therefore the provisions of clause (xii) of the Orderare not applicable to the Company.

xiii. In our opinion and according to the information and explanations given to us andbased on our examination of the records of the Company all transactions with the relatedparties are in compliance with section 177 and 188 of the Act where applicable and thedetails have been disclosed in the financial statements as required by the applicableaccounting standards.

xiv. According to the information and explanations given to us the company has notmade any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year under review and therefore the provisions ofclause (xiv) of the Order are not applicable to the Company.

xv. In our opinion and according to information and explanations given to us thecompany has not entered into any non-cash transactions with directors or persons connectedwith him.

xvi. The company is not required to be registered under Section 45-IA of the ReserveBank Of India Act 1934.

FOR AMIN PARIKH & CO.

CHARTERED ACCOUNTANTS

F.R.N. 100332W

CA. SAMIR R. PARIKH

PARTNER

M.NO. 41506 VADODARA

DATED: May 30 2016