You are here » Home » Companies » Company Overview » Baffin Engineering Projects Ltd

Baffin Engineering Projects Ltd.

BSE: 532161 Sector: Engineering
NSE: N.A. ISIN Code: INE786D01036
BSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN
PREVIOUS CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr)
Buy Price
Buy Qty
Sell Price
Sell Qty
OPEN
CLOSE
VOLUME
52-Week high 0.00
52-Week low 0.00
P/E
Mkt Cap.(Rs cr)
Buy Price
Buy Qty
Sell Price
Sell Qty

Baffin Engineering Projects Ltd. (BAFFINENGG) - Auditors Report

Company auditors report

BAFFIN ENGINEERING PROJECTS LIMITED ANNUAL REPORT 2007-2008 AUDITORS' REPORT TO THE MEMBERS OF BAFFIN ENGINEERING PROJECTS LIMITED 1. We have audited the attached Balance Sheet of BAFFIN ENGINEERING PROJECTS LIMITED, as at 30th April 2008 and the Profit & Loss account and Cash Flow Statement of the Company for the year ended on that date annexed thereto. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. 2. We conducted our audit in accordance with auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentations. We believe that our audit provides a reasonable basis for our opinion. 3. As required by the Companies (Auditors Report) order, 2003 issued by the Central Government of India in terms of Section 227 (4a) of the Companies Act, 1956, we annex hereto a statement on the matters specified in paragraphs 4 and 5 of the said Order. 4. Further to our comments in the Annexure referred to in paragraph 3 above we report that: a. We have obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purpose 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 such books. c. The Balance Sheet, Profit & Loss Account and the cash flow statement dealt with by this report are in agreement with the books of accounts. d. In our opinion, the Profit & Loss Account and Balance Sheet referred to in this report complies with the accounting standards referred to in Sub- Section (3C) of section 211 of Companies Act, 1956. e. According to information & explanations given to us and on the basis of the written representations from the directors, taken on record by the Board of Directors none of the Directors is disqualified as on April 30, 2007 from being appointed as a director Under Section 274(1)(g) of the Companies Act, 1956; f. In our opinion and to the best of our information and according to the explanation given to us, the said accounts give the information required by the Companies Act,1956 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 Balance Sheet of the State of affairs of the company as at 30th April 2008. 2) In the case of Profit & Loss Account of the Loss for the year ended on that date. 3) In the case Cash Flow Statement, of the Cash Flow for the year ended on that date. For DHAMIJA SUKHIJA & CO. Chartered Accountants (A.K. DHAMIJA) Partner Place: New Delhi Date : 29.09.2008 ANNEXURE TO THE AUDITORS REPORT (REFERRED TO IN PARAGRAPH (3) OF OUR REPORT OF EVEN DATE). 1. (a) The company is maintaining proper records showing full particulars including quantitative details of fixed Assets. (b) All the fixed assets have not been verified by the management during the year material discrepancies noticed on such verification dealt with the books of Accounts. (c) As explained in the Note No. 3 of the Notes on Accounts substainal part of the fixed assets has been written off. However the management is of the opinion that such writing off will not affect the going concern assumption of the company. 2. (a) The Inventory of the Company has been physically verified during the year by the management. In our opinion, the frequency of verification is reasonable. (b) The procedures of physical verification of stocks followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business. (c) The Company has maintained proper records of Inventory. No discrepancies were noticed on verification between the physical stocks and the book records. 3. (a) The Company has neither granted nor taken any loans , secured or unsecured, from Companies, Firms or other Parties covered in the register, maintained under Section 301 of the Companies Act, 1956. as the company has not granted/taken any loans, secured or unsecured, to/from parties listed in the register maintained under section 301 of the companies Act,1956 clauses iii(b), iii(c) & iii(d) of paragraph 4 of the order, are not applicable. 4. According to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchases of inventory, fixed assets and for sale of goods and services. 5. (a) According to the information and explanations given to us, no transaction was made in pursuance of contract or agreements, that need to be entered into the register maintained under section 301 of the Companies Act, 1956. (b) There are no transaction of purchase & sale of goods, materials and services made in pursuance of contracts or arrangement entered in register maintained under Section 301 of the Companies Act, 1956 aggregating during the year to Rs. 5,00,000/- or more in respect of each party. 6. The Company has not accepted any deposits from public. 7. In our opinion, the company has an internal audit system commensurate with its size and nature of business. 8. According to the information and explanations given to us, maintenance of cost records has not been prescribed by the Central Government under section 209(1) (d) of the Companies Act, 1956. 9. (a) As per the information and explanation given to us, the Company is not liable for Provident Fund, Investor Education & Protection Funds or Employees State Insurance, Wealth Tax, Custom Duty, Excise Duty and Cess. The Company is regular in payment of Income Tax, Sales tax and according to the information and explanations given to us, no undisputed amount payable in respect of such statutory dues. (b) According to the information and explanations given to us, there are no cases of non-deposit with the appropriate authorities of disputed dues of sales tax/income tax/custom tax/wealth tax/excise duty/cess. 10. The Company has accumulated losses and has incurred cash losses in the current year and in immediately preceding financial year. 11. According to the information and explanations given by the management, we are of the opinion that the Company has not defaulted in repayment of dues to financial institution and bank or debenture holder. There were no debenture holders at any time during the year. 12. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debenture and other securities. 13. As per the information and explanation given to us, the provisions of any special statute applicable to Chit Fund, Nidhi or Mutual Benefit Fund/Societies are not applicable to the Company. 14. In our opinion and according to the information and explanation given to us the company is not a dealer or trader in securities. 15. The Company has not given any guarantee for loans taken by others from bank or financial institutions, the terms and conditions whereof in our opinion are prima facie, prejudicial to the interest of the Company. 16. The Company has not taken any term loan during the year. 17. Based on the examination of documents and records made available and on the basis of information and explanation given to us, since the company has not raised short-term and long-term fund, Para 4 of the order is not applicable. 18. According to the information and explanations given to us, the Company has not made any preferential allotment of shares to parties & Companies covered in the register maintained under section 301 of the Companies Act, 1956 during the year. 19. No debentures have been issued by the Company and hence question of Creating security does not arise. 20. The Company has not raised any money by way of public issue during the year. 21. On the basis of our examination and according to the information and explanations given to us, no fraud on or by the Company has been noticed or reported during the year. For DHAMIJA SUKHIJA & CO. Chartered Accountants Place: New Delhi (A.K. DHAMIJA) Date : 20.09.2008 Partner

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard