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Computer Point Ltd.

BSE: 507833 Sector: Consumer
NSE: N.A. ISIN Code: INE607B01012
BSE LIVE 15:14 | 14 Dec 1.17 0.05
(4.46%)
OPEN

1.17

HIGH

1.17

LOW

1.17

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.17
PREVIOUS CLOSE 1.12
VOLUME 1100
52-Week high 2.25
52-Week low 0.75
P/E 23.40
Mkt Cap.(Rs cr) 4
Buy Price 1.17
Buy Qty 10000.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.17
CLOSE 1.12
VOLUME 1100
52-Week high 2.25
52-Week low 0.75
P/E 23.40
Mkt Cap.(Rs cr) 4
Buy Price 1.17
Buy Qty 10000.00
Sell Price 0.00
Sell Qty 0.00

Computer Point Ltd. (COMPUTERPOINT) - Auditors Report

Company auditors report

To The Members of M/s COMPUTER POINT LTD.

Report on Financial Statements

To the Board of Directors of M/s.Computer Point Limited

1. We have audited the accompanying standalone financial statements of M/s COMPUTERPOINT LTD. ("theCompany") which comprise the Balance sheet as at 31stMarch 2016 the statement of profit and loss and cashflow statementforthe year then endedand a summary of significant accounting policies andother explanatory information.

Management's Responsibility for the Financial Statements

2. The Company Board of Directors is responsible for the matters stated in section134(5) of the CompaniesAct2013 (the "Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting standards specified underthe Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014.Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of theActfor safeguarding the assets of the company and for preventing anddetecting frauds andother irregularities; section and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditors' Responsibility

3. Our responsibility is to express an opinion on these financial statements based onour audit.

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

5. We conducted our audit in accordance with the Standards onAuditing specified underSection 143(10) of the Act.Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement

6. An audit involves performing procedures to obtain audit evidence about the amountsand 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 accounting policies used and the reasonablenessof the accounting estimates made by the Company's directors aswell asevaluatingtheoverall presentation of the

1. financial statements that give a true and fair view in order to design auditprocedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on whether the company has in place an adequate internal financialcontrols system over financial reporting and the operating effectiveness of suchcontrols.An audit also includes evaluating the appropriateness of accounting policies usedand the reasonableness of the accounting estimates made by the Company's directors aswell as evaluating the overall presentation of the financial statements.

2. Webelieve that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion the financial statements.

Opinion

3. 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 andgive a true and fair view in conformity with theaccounting principles generally accepted in

India ofthe state of affairs of the Company as at March 312016 and its profit andits cash flows for the year ended on that date.

(a) Inthe case of the Balance Sheet of the state of affairs of the Company as at March31201 6; (b) Inthe case ofthe Statement of Profit and Loss of the Profit for theyear ended on that date; and (c) Inthe case of the Cash Flow Statement of the cash flowsfor the year ended on that date.

Report on Other Legal and Regulatory Requirements

4. 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 oftheAct (hereinafter referred to as the "Order") and on the basis of such checksof the books and records of the Company as we considered appropriate and according to theinformation and explanations given to us. We give in the Annexure a statement on thematters specified in paragraphs 3and 4 of the Order.

10. As required by section 143(3) oftheAct wereportthatwe reportthat:

(a) We have sought and obtained all the information and explanations which to the bestof our knowledge and beliefwere necessary forthe purposes ofour audit; (b) In our opinionproper books of account as required by law have been kept by the company sofar as appearsfrom our examination ofthose books.

The balance sheet the statement of profit and loss and cash flow statement dealtwith this report are in agreement withthe books of account.

(d) In our opinion the Balance Sheet the Statement of Profit and Loss and the CashFlow Statement comply with theAccounting Standards specified under section 133 ofthe actread with Rule 7 of the Companies (Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as onMarch 312016 taken on record by the Board of Directors none of the directors isdisqualified as on March 312016 from being appointed as a director in terms of Section164 (2) of theAct.

(f) with respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate report in

"Annexure B"; and

(g) with respect to the other matters to be included in theAuditor's Report inaccordance with Rule 11of the Companies (Audit andAuditors) Rules 2014 in our opinionand to the best of our information andaccording tothe explanations givento us: .i theCompany hasno pending litigations duringthe year ii. the Company has made provision asrequired under the applicable law or accounting standards for material foreseeablelosses if any on long-term contracts including derivative contracts. iii. There hasbeennodelay in transferring amounts requiredto be transferred to the Investor Education andProtection Fund bythe Company.

For RANJIT JHA & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Registration No. 326969E
Place : Kolkata (Ranji t Jha)
Dated: 30th day of MAY 2016 Partner
Membership No.: 068333

Annexure-A to theAuditors'Report

The Annexure referred to in Independent Auditors' Report to the members of the Companyon the standalone financial statements for the year ended 31 March 2016 we report that:

(i) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets

(b) The Company has a regular programme of physical verification of its fixed assets bywhich fixed assets are verified in a phased manner over a period of three years. Inaccordance with this programme certain fixed assets were verified during the year and nomaterial discrepancies were noticed on such verification. In our opinion this periodicityof physical verification is reasonable having regard to the size of the Company and thenature of its assets.

(c) According to the information and explanations given to us and on the basis of ourexamination of the records of the Company the title deeds of immovable properties areheld in the name of the Company.

(ii) The Company does not hold any physical inventories. Thus paragraph 3(ii) of theOrder is not applicable to the Company.

(iii) The Company has not granted any loans secured or unsecured to the bodiescorporate covered in the register maintained under section 189 of the Companies Act2013('the Act').

(iv) Inour opinion and according to the information and explanations givento us theCompany has complied with the provisions of section 185 and 186 of the Act with respectto the loans and investments made.

(v) The Company has not accepted any deposits from the public

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148(1) of theAct for any of the services rendered by the Company

(vii) (a) Accord'ing 'to 'the 'informa't'ion and explanations given to us and on Ynebasis ol OUT examination of the records of the Company amounts deducted/accrued in thebooks of account in respect of undisputed statutory dues including provident fundincome-tax sales tax value added tax duty of customs service 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.

According to the information and explanations given to us no undisputed amountspayable in respect of provident fund income taxsales tax value added tax duty ofcustoms service tax cess and other material statutory dues were in arrears as at 31March 2016 for a period of more than six months from the date they became payable.

(viii) The Company does not have any loans or borrowings from any financialinstitution banks government or debenture holders during the year. Accordinglyparagraph 3(viii) of the Order is not applicable.

(ix) The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year. Accordinglyparagraph 3 (ix) of the Order is not applicable.

(x) According to the information and explanations given to us no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of our audit.

(xi) According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has paid/provided for managerialremuneration n i accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Act.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

(xiii) According to the information and explanations given to us and based on ourexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards. (xiv) According to the information and explanations give to us andbased on our examination of the records of the Company the Company has not made anypreferential allotment or private placement of shares or fully or partly convertibledebentures during the year.

(xv) According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

(xvi) The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

For RANJIT JHA & ASSOCIATES
CHARTERED ACCOUNTANTS
Firm Registration No. 326969E
Place : Kolkata (Ranji t Jha)
Dated: 30'h day of MAY 2016 Partner
Membership No.: 068333

Annexure - Bto the Auditors' Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the CompaniesAct 2013 ("the Act")

We have audited the internal financial controls over financial reporting of M/sComputer point Limited

("the Company") as of 31 March 2016in conjunction with our audit of thestandalone financial statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of CharteredAccountants of India ('ICAI'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the CompaniesAct 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note onAudit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on

Auditing issued by ICAI and deemed to be prescribed under section 143(10) of theCompanies Act 2013 to the extent applicable to an audit of internal financial controlsboth applicable to an audit of

Internal Financial Controls and both issued by the Institute of CharteredAccountantsof India. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect onthe financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls overfmancialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions orthatthe degree of compliance withthe policies or procedures maydeteriorate.

Opinion

n I our opinion the Company hasin all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31 March 2016 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute ofCharteredAccountants of India.

For RANJIT JHA &ASSOCIATES
CHARTEREDACCOUNTANTS
Firm Registration No. 326969E
Place: Kolkata (Ranjit Jha)
Dated: 30lh day of MAY2016 Partner
Membership No.: 068333