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Perfect-Octave Media Projects Ltd.

BSE: 521062 Sector: Industrials
NSE: N.A. ISIN Code: INE814L01013
BSE LIVE 09:41 | 18 Oct 1.67 0
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1.67

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1.67

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1.67

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 1.67
PREVIOUS CLOSE 1.67
VOLUME 500
52-Week high 4.60
52-Week low 1.27
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.75
Sell Qty 1000.00
OPEN 1.67
CLOSE 1.67
VOLUME 500
52-Week high 4.60
52-Week low 1.27
P/E
Mkt Cap.(Rs cr) 6
Buy Price 0.00
Buy Qty 0.00
Sell Price 1.75
Sell Qty 1000.00

Perfect-Octave Media Projects Ltd. (PERFECTOCTAVE) - Auditors Report

Company auditors report

TO THE MEMBERS OF PERFECT OCTAVE MEDIA PROJECTS LIMITED

Report on the Financial Statements

We have audited the accompanying financial statements of PERFECT OCTAVE MEDIAPROJECTS LTD ("the company") which comprise the Balance Sheet as at 31stMarch 2015 the Statement of Profit and Loss the Cash Flow Statement for the year thenended and a summary of significant accounting policies and other explanatory information.

Management Responsibility for the Financial Statements

The Company’s Board of Directors is responsible for the matters in section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of thesefinancial statements that give a true and fair view of the financial position financialperformance and cash flows of the Company in accordance with the accounting principlesgenerally accepted in India including the Accounting Standards specified under Section133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes the maintenance of adequate accounting records in accordancewith the provision of the Act for safeguarding of the assets of the Company and forpreventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgments and estimates that are reasonable andprudent; and design implementation and maintenance of internal financial control thatwere operating effectively for ensuring the accuracy and completeness of theaccounting records relevant to the preparation and presentation of the financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.

Auditors’ 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 auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made there under.

We conducted our audit in accordance with the Standards on Auditing 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 mis-statement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on theauditor’s judgment including the assessment of the risks of material misstatement ofthe financial statements whether due to fraud or error. In making those risk assessmentsthe auditor considers internal financial control relevant to the Company’spreparation of the financial statements that give true and fair view in order to designaudit procedures that are appropriate in the circumstances. An audit also includesevaluating the appropriateness of accounting policies used and the reasonableness of theaccounting estimates made by Company’s Directors as well as evaluating the overallpresentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the financial statements.

Opinion

1. 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 a!airs of the Company as at31st March 2015 and its loss and its cash flows for the year ended on that date.

Report on other Legal and Regulatory Requirements

2. As required by the Companies (Auditor's Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Companies Act 2013 and on the basis of such checks of the books andrecords of the Company as we considered appropriate and according to the information andexplanation given to us we give in the Annexure a statement on the matters specified inparagraphs 3 & 4 of the Order to the extent applicable.

2. As required by section 143(3) of the Act we report 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 theCompany so far as appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss and Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

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 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 terms ofSection 164(2) of the Act.

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. The Company does not have any pending litigations which would impact its financialposition.

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

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

FOR N.K. JALAN & CO.
CHARTERED ACCOUNTANTS
FIRM NO. 104019W
Sd/-
(N.K. JALAN)
Place: Mumbai PROPRIETOR
Dated: May 30 2015 Membership No.011878

Annexure to the Independent Auditors' Report

(Referred to in paragraph 1 under ‘Report on Other Legal and RegulatoryRequirements section of our report of even date)

1. In respect of its fixed assets:

(a) The company has maintained proper records showing full particulars includingquantitative details and situation of the fixed assets.

(b) The fixed assets are physically verified by the management according to a phasedprogram design to cover all the items over a period which in our opinion is reasonablehaving regard to the size of the company and the nature of its assets. Pursuant to theprogram a portion of the fixed assets has been physically verified by the Managementduring the year and no material discrepancies have been noticed on such verification.

2. In respect of its inventories:

The inventory has been physically verified by the management during the year. In ouropinion the frequency of verification is reasonable.

(b) In our opinion the procedures of physical verification of inventory followed bythe Management are reasonable and adequate in relation to size of company and nature ofbusiness.

(c) On the basis of our examination of the inventory records in our opinion thecompany is maintaining proper records of inventory. The discrepancies noticed on physicalverification of inventory as compared to book records were not material.

3 During the year the Company has not granted loan to any party covered in the registermaintained under Section 189 of the Companies Act 2013. Therefore provisions ofsub-clause (a) (b) of clause (iii) of paragraph 3 of the order are not applicable to thecompany.

4. In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the Company and thenature of its business for the purchase of inventory and fixed assets and for the sale ofgoods and services. During the course of our audit we have not observed any continuingfailure to correct major weaknesses in internal control system.

5. The company has not accepted any deposits from the public of the nature whichattracts the provisions of sections 73 to 76 or any other relevant provisions of theCompanies Act 2013 and the rules made there under. Therefore the provisions of clause(vi) of paragraph 3 of the Order are not applicable to the Company.

6. As per the information and explanations given to us in respect of the class ofindustry in which the Company falls the maintenance of cost records has not beenprescribed by the Central Government under sub-section (1) of section 148 of the CompaniesAct. Therefore the provisions of clause (viii) paragraph 3 of the Order are notapplicable to the Company.

7. In respect of statutory dues:

(a) The company is regular in depositing with appropriate authority undisputedstatutory dues including provident fund employees state insurance income tax sales taxwealth tax service tax duty of customs duty of excise or value added taxes and anyother statutory dues applicable to it with the appropriate authorities except in certaincases where there were minor delays in payment of TDS.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of income tax wealth tax sales tax service tax were in arrears as at31st March 2015 for a period of more than six months from the date they becamepayable.

(c) In our opinion and according to the information and explanations given to us thereare no amounts which are required to be transferred to investor education and protectionfund in accordance with the relevant provisions of the Companies Act 1956 and rules madethere under

8. The company is registered for a period of more than 5 years and its accumulatedlosses at the end of the financial year are less than the fifty percent of its net worth.The company has incurred cash losses during the financial year under review and in theimmediately preceding financial year.

9. The Company has not taken loan from any financial institutions banks or debentureholder. Therefore the provisions of clause (ix) of paragraph 3 of the Order are notapplicable to the Company.

10. In our opinion and according to the information and explanations given to us thecompany has not given any guarantees for loans taken by others from banks or financialinstitutions. Therefore the provisions of clause (x) paragraph 3 of the Order are notapplicable to the Company.

11. The company has not availed any term loan during the year. Therefore theprovisions of clause (xi) of paragraph 3 of the order are not applicable to the Company.

12. To the best of our knowledge and according to the information and explanationsgiven to us no fraud on or by the company has been noticed or reported during the courseof our audit.

FOR N.K. JALAN & CO.
CHARTERED ACCOUNTANTS
FIRM NO. 104019W
Sd/-
(N.K. JALAN)
Place: Mumbai PROPRIETOR
Dated: May 30 2015 Membership No.011878