TO THE MEMBERS OF APPU MARKETING & MANUFACTURING LIMITED Report on the StandaloneFinancial Statements
We have audited the accompanying standalone financial statements of APPU MARKETING& MANUFACTURING LIMITED (''the Company'') which comprise the balance sheet as at 31stMarch 2015 the statement of profit and loss and the cash flow statement for theyear then ended and a summary of significant accounting policies and other explanatoryinformation.
Management's Responsibility for the Standalone Financial Statements
The Company's Board of Directors is responsible for the matters stated in section134(5) of the Companies Act 2013 (the Act) with respect to the preparationand presentation of these standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014. This responsibility also includes the maintenance ofadequate accounting records in accordance with the provision of the Act for safeguardingof the assets of the Company and for preventing and detecting the frauds and otherirregularities; selection and application of appropriate accounting policies; makingjudgments and estimates that are reasonable and prudent; and design implementation andmaintenance of adequate internal financial control that were operating effectively forensuring the accuracy and completeness of the accounting records relevant to thepreparation and presentation of the standalone financial statements that give a true andfair view and are free from material misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.
We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India and matters which are required to be includedin the audit report under the provisions of the Act and the Rules made thereunder. Weconducted our audit in accordance with the Standards on Auditing specified under Section143(10) of the Act. Those standards require that we comply with ethical requirements andplan and perform the audit to obtain reasonable assurance about whether the standalonefinancial statements are free from material misstatement.
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 but not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation of the financial statements. We believe that the auditevidence we have obtained is sufficient and appropriate to provide a basis for our auditopinion on the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India:
(i) in the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2015;
(ii) in the case of the Statement of Profit and Loss of the profit of the Company forthe year ended on that date;
(iii) in the case of the Cash Flow Statement of the cash flows for the year ended onthat 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 ofthe Act we give in the Annexure a statement on the matters specified in paragraphs 3 and4 of the Order to the extent applicable.
2. As required under provisions of section 143 (3) of the Companies Act 2013 wereport that:
a. we have sought and obtained all the information and explanations which to the bestof our knowledge and belief were necessary for the purposes of our audit;
b. in our opinion proper books of account as required by law have been kept by the
Company so far as it appears from our examination of those books;
c. the balance sheet the statement of profit and loss and the cash flow statementdealt with by this Report are in agreement with the books of account;
d. in our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014;
e. on the basis of the written representations received from the directors as on 31stMarch 2015 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2015 from being appointed as a director in termsof Section 164 (2) of the Act; and
f. with respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:
i. there has been no pending litigations on the Company which may have impact on thefinancial position in its standalone financial statement;
ii. for the Company has no material foreseeable losses on long term contractsincluding derivative contracts therefore there is no requirement to create provision asrequired under any law or accounting standards; and
iii. there has been no fund required to be transferred by the Company to the InvestorEducation and Protection Fund.
For S.C.SWAIKA & CO.
(Chartered Accountants) FRN N0.322137E
Place : Kolkata
Dated : 29th day of May 2015
The Annexure referred to in our Standalone Independent Auditors Report to themembers of
the Company on the standalone financial statements for the year ended 31stMarch 2015 we
(i) In respect of its Fixed Assets :
a) The Company has maintained proper records showing full particulars includingquantitative details and situation of Fixed Assets on the basis of available information.
b) As explained to us the Fixed Assets have been physically verified by the managementduring the year which in our opinion is reasonable having regard to size of the Companyand nature of its assets. No material discrepancies were noticed on such physicalverification
(ii) In respect of its Inventories :
a) As explained to us the inventories were physically verified during the year by theManagement at reasonable intervals.
b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the Company and the nature of itsbusiness.
c) In our opinion and according to the information and explanations given to us theCompany has maintained proper records of its inventories and no material discrepancieswere noticed on physical verification.
(iii) According to the information and explanations given to us the Company has notgranted any loans secured or unsecured to companies firms or other parties covered inthe Register maintained under Section 189 of the Companies Act 2013. Thus 3(iii) of theOrder is not applicable.
(iv) In our opinion and according to the information and explanations given to usthere are adequate internal control procedures commensurate with the size of the companyand the nature of its business for the purchase of inventory fixed assets and for thesale of goods and services. We have not observed any major weaknesses in internal controlsystem during the course of the audit.
(v) The Company has not accepted any deposit from the public covered under the terms ofsection 73 to 76 of the Company's Act 2013 or any other relevant provisions of the Act& rules framed there under.
(vi) As informed to us the Central Government has not prescribed maintenance of costrecords under Section 148(1) of the Act in respect of the activities carried on by theCompany.
(vii) In respect of statutory dues:
(a) According to the information and explanations given to us and on the basis of our
examination of the records of the Company amounts deducted/ accrued in the books ofaccount in respect of undisputed statutory dues including provident fund income taxsales tax wealth tax service tax duty of customs value added tax cess and othermaterial statutory dues have been regularly deposited during the year by the Company withthe appropriate authorities. As explained to us the Company did not have any dues onaccount of employees' state insurance and duty of excise.
(b) According to the information and explanations given to us no undisputed amountspayable in respect of provident fund income tax sales tax wealth tax service tax dutyof customs value added tax cess and other material statutory dues were in arrears as at31st March 2015 for a period of more than six months from the date they becamepayable.
(c) According to the information and explanations given to us no amount is required tobe transferred to investor education and protection fund in accordance with the relevantprovisions of the Companies Act 1956 (1 of 1956) and rules made thereunder by the companyduring the financial year under review.
(viii) The Company does not have accumulated losses. The Company has not incurred cashlosses during the financial year covered by our audit and in the immediately precedingfinancial year.
(ix) In our opinion and according to the information and explanations given to us theCompany did not have any outstanding dues to financial institutions banks or debentureholders.
(x) In our opinion and according to the information and the explanations given to usthe Company has not given any guarantee for loans taken by others from banks or financialinstitutions.
(xi) According to the information and explanations given to us the Company did notavail any term loan during the year.
(xii) To the best of our knowledge and belief and according to the information andexplanations given to us no fraud by the Company and no material fraud on the Company hasbeen noticed or reported during the year.
For S.C.SWAIKA & CO.
(Chartered Accountants) FRN N0.322137E
|Place : ||Kolkata |
|Dated : ||29th day of May 2015 |