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S T Services Ltd.

BSE: 538876 Sector: Financials
NSE: N.A. ISIN Code: INE907D01012
BSE LIVE 15:15 | 16 Jun Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 9.95
PREVIOUS CLOSE 10.47
VOLUME 5
52-Week high 18.25
52-Week low 9.95
P/E 497.50
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.95
Sell Qty 8796.00
OPEN 9.95
CLOSE 10.47
VOLUME 5
52-Week high 18.25
52-Week low 9.95
P/E 497.50
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 9.95
Sell Qty 8796.00

S T Services Ltd. (STSERVICES) - Auditors Report

Company auditors report

TO THE MEMBERS OF

S T Services Limited

Report on Financial Statements

We have audited the accompanying standalone Financial Statements of S T ServicesLimited ("The Company") which comprises the Balance Sheet as at 31st March2016 the statement of Profit and Loss and Cash Flow Statement for the year then endedand a summary of the significant accounting policies and other explanatory information.

Management’s Responsibility for the Standalone Financial Statements

The Company’s Board of Directors are responsible for the matters in section 134(5)of the Companies Act 2013 ("the Act") with respect to the preparation of thesestandalone 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 underSection 133 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 the assets of the Company and forpreventing and detecting 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 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.

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 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 accordancewith the Standards on Auditing specified under section 143(10) of the Act. Those Standardsrequire that we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

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 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 financial statements give the information required by the Act in themanner 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 atMarch. 31 2016 and its profit and its cash flows for the year ended on that date.

Report on other legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) order 2016 as issued by theCentral Government of India in terms of section 143(11) of the Companies Act 2013 we givein the Annexure A a statement on the matters specified in paragraphs 3 and 4 ofthe 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 be the bestof 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 theCompany 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 written representations received from the directors as on 31 March2016 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2016 from being appointed as a director in terms of Section 164(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.

g) With respect to the other matters to be included in the Auditors’ Report inaccordance with Rule 11 of the Companies(Audit and Auditors) Rules 2014 in our opinionand to the best of our knowledge and belief and according to the information andexplanation 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 derivatives contracts asat March 31 2016 for which there were no any material foreseeable losses.

III. There has been no delay in transferring amounts required to be transferred tothe Investor Education and Protection Fund by the Company during the year ended March 312016.

For S. Jaykishan

Chartered Accountants

SD/-

(Ritesh Agarwal)

Partner

(M. No: 062410)

Firm Registration No. 309005E

Place of Signature: Kolkata

Date: 30th May 2016.

Annexure ‘A’ to the Independent Auditor’s Report

With reference to Annexure referred to in paragraph-1 in Report on other Legal &regulatory Requirements of the Independent Auditor’s Report to the Members of M/s S TServices Limited on the Financial Statements for the year ended 31st March2016 we report that : (i) (a) The company has maintained proper records showing fullparticulars including quantitative details and situation of fixed assets.

(b) The fixed assets have been physically verified by the management during the year.No material discrepancies were noticed on such verification. In our opinion the frequencyof verification of the fixed assets is reasonable having regard to the size of the Companyand the nature of its assets.

(c) The Company does not hold any immovable properties in the name of the Company.

(ii) Stock in Trade is in the form of Shares Debentures etc. and as per AS-2 of theInstitute of Chartered Accountants of India; they are not Inventories and hence are notcovered by clause 3(ii) of the order.

(iii) The Company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnerships (LLPs) or other parties covered in the register maintainedunder Section 189 of the Company Act 2013. Accordingly the provisions of clauses3(iii)(a) 3(iii)(b) and 3(iii)(c) of the order are not applicable to the Company.

(iv) In our opinion and according to the information and explanations given to us theCompany has complied with the provision of Section 185 and 186 of the Companies Act 2013in respect of loans Investments guarantees and security.

(v) In our opinion and according to the information and explanations given to us thecompany has not accepted any deposits within the meaning of sections 73 to 76 of theCompanies Act 2013 and the Companies (Acceptance of Deposit) Rules 2014 (as amended).Accordingly the provisions of clause 3(v) of the order are not applicable.

(vi) The Central Government has not prescribed the maintenance of cost records undersection 148(1) of the Companies Act 2013 in respect of the activities carried on by theCompany; hence the provisions of Clause 3(vi) of the order are not applicable.

(vii) (a) According to the information and explanations given to us and on the basis ofour examination of records of the company amounts deducted/ accrued in the books ofaccounts in respect of undisputed statutory dues including income-tax sales-taxwealth-tax custom duty excised –duty value added tax cess and other statutorydues have been regularly deposited during the year by the Company with the appropriateauthorities. We have been informed that there are no arrears of outstanding dues as at thelast day of the financial year under audit for a period of more than six months from thedate they become payable.

(b) According to the information and explanations given to us there are no statutorydues of income tax sales tax Service Tax duty of Customs duty of excise and valueadded tax and other material statutory dues in arrears as at 31st March 2016which have not been deposited on account of any dispute.

(viii) The Company has no loans or borrowings payable to a financial Institution or abank or government and no dues payable to debenture holders during the year. Accordinglyprovisions of clause 3(viii) of the order are not applicable.

(ix) The Company has not raised any money by way of initial public offer or furtherpublic offer (including debt instruments) and any terms loans during the year. Accordinglyprovisions of clause 3(ix) of the Order are not applicable.

(x) To the best of our knowledge and according to the information and explanation givento us no fraud by the company or on the Company by its officers or employees has beennoticed or reported during the period covered by one audit.

(xi) In our opinion and according to information and explanation given to us theCompany has paid / provided managerial remuneration in accordance with the requisiteapprovals mandated by the provision of section 197 read with schedule V to the CompaniesAct 2013.

(xii) In our opinion the Company is not a Nidhi Company. Accordingly clause 3(xii) ofthe Order is not applicable.

(xiii) In our opinion all the transactions with the related parties are in compliancewith Section 177 and 188 of the Companies Act 2013 where applicable and the requisitedetails have been disclosed in the financial statements etc. as required by the applicableaccounting standards.

(xiv) During the year the Company has not made any preferential allotment or privateplacement of shares or fully or partly convertible debenture. (xv) In our opinion andaccording to the information and explanations given to us the Company has not enteredinto non-cash transaction with its directors or person connected with them.

(xvi) The Company is required to be registered under Section 45-1A of the Reserve Bankof India Act 1934 and such registration has been obtained by the Company.

For S. Jaykishan

Chartered Accountants

SD/-

(Ritesh Agarwal)

Partner

(M. No: 062410)

Firm Registration No. 309005E

Place of Signature: Kolkata

Date: 30th May 2016.

Annexure ‘B’ to the Independent Auditor’s Report

Report on the Internal Financial Controls under Clause (i) of Subsection 3 of Section143 of the Companies Act 2013 ("the Act").

1. We have audited the internal financial controls over financial reporting of S TServices Limited ("the Company") as of March 31 2016 in conjunction with ouraudit of the Financial Statements of the Company for the year ended 31st March2016.

2. 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 Chartered Accountants 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 assetsthe prevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013

3. 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 on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit internal financial controls both applicable to an audit ofinternal financial controls and both issued by the Institute of Chartered Accounts ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain responsible 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 included obtaining anunderstanding of internal financial controls over financial reporting assessing the riskthat a material weakness exists and testing and evaluating the design and operatingeffectiveness of internal control based on the assessed risk. The procedures selecteddepend on the auditor’s judgment including the assessment of the risk of materialmisstatement of the financial statements whether due to fraud or error. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion of the Company’s internal financial controls system over financialreporting.

4. Meaning of Internal Financial Controls over Financial Reporting

A Company’s internal financial control over financial reporting is a processdesigned to provide reasonable assurance regarding the reliability of financial reportingand the preparation of the financial statements for external purposes in accordance withgenerally accepted accounting principles. A company’s internal financial control overfinancial reporting includes those policies and procedures that :

(a) Pertain to the maintenance of records that in reasonable details accurately andfairly reflect the transactions and dispositions of the assets of the Company.

(b) Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and those receipts and expenditures of the company are being made only inaccordance with authorisations of management and Directors of the Company.

(c) Provide reasonable assurance regarding prevention or timely detection ofunauthorized acquisition use or disposition of the company’s assets that could havea material effect on the financial statements.

5. Inherent Limitations of Internal Financial Controls over Financial Reporting.

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override orcontrols 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 any become inadequate because of change in conditions or that the degree ofcompliance with the policies or procedures may deteriorate.

6. Option

In our opinion to the best of our information and according to the explanations givento us the Company has in all material respect an adequate internal financial controlssystem over financial reporting and such internal financial controls over financialreporting were operating effectively as at March 31 2016 based on internal controls overfinancial reporting criteria established by the Company considering the essentialcomponents of internal control stated in the Guidance Note on Audit of Internal FinancialControls over Financial Reporting issued by the Institute of Chartered Accountants ofIndia on Audit of Internal Financial Controls over Financial Reporting issued by theInstitute of Chartered Accounts of India.

For S. Jaykishan

Chartered Accountants

SD/-

(Ritesh Agarwal)

Partner

(M. No: 062410)

Firm Registration No. 309005E

Place of Signature: Kolkata

Date: 30th May 2016.