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HCKK Ventures Ltd.

BSE: 539224 Sector: Financials
NSE: N.A. ISIN Code: INE345Q01017
BSE LIVE 14:21 | 15 Sep 47.00 0.30
(0.64%)
OPEN

46.95

HIGH

47.00

LOW

46.95

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 46.95
PREVIOUS CLOSE 46.70
VOLUME 3000
52-Week high 47.25
52-Week low 22.00
P/E
Mkt Cap.(Rs cr) 17
Buy Price 46.90
Buy Qty 10.00
Sell Price 0.00
Sell Qty 0.00
OPEN 46.95
CLOSE 46.70
VOLUME 3000
52-Week high 47.25
52-Week low 22.00
P/E
Mkt Cap.(Rs cr) 17
Buy Price 46.90
Buy Qty 10.00
Sell Price 0.00
Sell Qty 0.00

HCKK Ventures Ltd. (HCKKVENTURES) - Auditors Report

Company auditors report

To

The Shareholders

HCKK VENTURES LTD

Report on the Standalone Financial Statements

We have audited the accompanying financial statements of the M/s. HCKK VENTURES LTDwhich comprise the Balance Sheet as at 31-Mar-2017 and the Profit & Loss account andthe cash flow statement for the year then ended and a summary of significant accountingpolicies and other explanatory information.

Management’s Responsibility for the Standalone 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 maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection 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 these standalone 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 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 theamounts and disclosures in the financial statements. The procedures selected depend on theauditor’s judgement including the assessment of the risks of material misstatementof the financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal control relevant to the Company’spreparation and fair presentation of the financial statements in order to design auditprocedures that are appropriate in the circumstances but not for the purpose ofexpressing an opinion on the effectiveness of the Company's internal control. An auditalso includes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company’s Directors as wellas evaluating the overall presentation of the financial statements. We believe that theaudit evidence we have obtained is sufficient and appropriate to provide a basis for ouraudit opinion on the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion.

Opinion:

In our opinion and to the best of our information and according to the explanationgiven 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: (a) in the case of Balance Sheet of the stateaffairs of the Company as at 31-Mar-2017 (b) in case of the Profit and Loss Account ofthe loss for the year ended on that date (c) in the case of Cash Flow Statement of thecash flows for the year ended on that date.

Emphasis of Matters

We draw attention to the following matters in the notes to the financial statements:

We have obtained all the information and explanations which to the best of ourknowledge and belief were necessary for the purpose of our audit.

Our opinion is not modified in respect of these matters.

The Company has provided the requisite disclosure in the financial statements as toholdings as well as dealings in specified bank notes during the period from 8thNovember 2016 to 30th December 2016. Based on audit procedures and relying onthe management representation we report that the disclosures are in accordance with booksof account maintained by the company and as produced to us by the management.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor’s Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Act we give in the Annexure a statement on the matters specified inparagraphs 3 and 4 of the Order.

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 [and proper returns adequatefor the purposes of our audit have been received from branches not visited by us.

(c) the Balance Sheet Statement of Profit and Loss and Cash Flow Statement dealt withby 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 receivedfrom the directors as on 31-Mar-2017 and taken on record by the Board of Directors noneof the directors is disqualified as on 31-Mar-2017 from being appointed as a director interms of sub-section (2) of section 164 of the Companies Act 2013.

(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:

g) The Company does not have any pending litigations which would impact its financialposition has. ii) The Company did not have any long-term contracts including derivativescontracts for which there were any material foreseeable losses . iii) There were noamounts which required to be transferred to the Investor Education and Protection Fund bythe Company;

ANNEXURE "A" TO THE AUDITORS REPORT:

(Referred to in paragraph (3) of our report of even date)

Report on the matters specified in paragraph 3 of the Companies (Auditor’s Report)Order 2016 ("the Order’) issued by the Central Government of India in terms ofsection 143(11) of the Companies Act 2013 ("the Act") as referred to inparagraph 1 of ‘Report on Other Legal and Regulatory Requirements’ section. Interms of the information and explanations given to us and the books and records examinedby us in the normal course of audit and to the best of our knowledge and belief we reportthat:

In view of the nature of business and the general activity of the Company the mattersspecified in the items (xii) of Clause 3 of the Companies (Auditor’s Report) Order2016 are not applicable to the Company. Subject to the same we further report as follows:

1 Fixed assets
1.01 In our opinion the Company has maintained proper records of its fixed assets showing full particulars including quantitative details and their location.
1.02 All the fixed assets have been physically verified during the year by the management. As explained to us there is a regular programme of verification which in our opinion is reasonable having regard to the size of the Company and the nature of its assets. No material discrepancies were noticed between physical verification of assets as compared with books/ records maintained by the management
1.03 As regards the immovable properties belonging to the Company title deeds of such immovable properties are held in the name of the company.
2 Inventories
2.01 In our opinion physical verification of inventory has been conducted by the management at reasonable intervals;
2.02 Material discrepancy if any noticed on physical verification of stocks as compared to book records have been properly dealt with in the books of account.
3 Loans & advances
3.01 The Company has not granted any loans to companies firms or other parties maintained under Section 189 of the Companies Act 2013. Accordingly clauses 3(iii) of the Order are not applicable.
4 Loans Investments Guarantees
4.01 In our opinion and according to the information and explanations given to us the Company has not granted any loans or made any investments or given any guarantee or provided any security which attract the provisions of Section 185 and 186 of the Companies Act 2013.
5 Deposits
In our opinion and according to the information and explanations given to us the Company has not taken any deposits within the meaning of Sec. 73 to 76 of the Companies Act 2013 and the rules framed there under or the order(s) passed by Company Law Board or National Company Law Tribunal or Reserve Bank of India or any court or any other tribunal in respect of Acceptance of Deposits.
6 Cost Records
The Company is NOT covered under the provisions of sub-section (1) of the section 148 of the Companies Act 2013.
7 Statutory dues
7.01 The Company has deposited with the appropriate authorities undisputed statutory dues including Provident Fund employees' state insurance income-tax sales-Lax service tax duty of customs duty of excise value added tax cess and all other statutory dues with the appropriate authorities and other material statutory dues applicable. .
7.02 According to the information and explanations given to us there is no undisputed amount payable in respect of income tax wealth tax sales tax service tax or duty of customs or duty of excise or value added tax or cess which are outstanding as at 31-Mar-2017 for a period of more than six months from the date they became payable.
8 Managerial Remuneration
In our opinion and according to the information and explanations given to us the Company has paid or provided for Managerial remuneration in accordance with the requisite approvals mandated by the provisions of section 197 read with schedule V to the Companies Act.
9 Related-party Transactions
9.01 In our opinion and according to the information and explanations given to us all transactions with related-parties as per the provisions of the Companies Act are in compliance with the provisions of Section 188 and 177 of the Companies Act 2013 where applicable. We further report that in our opinion all transactions of the Company with the related parties as required by the accounting standards and the provisions of the Companies Act 2013 have been duly disclosed in the Financial Statements.
9.02 In our opinion and according to the information and explanations given to us the company has not entered into any non-cash transactions with directors or persons connected with him.
10 Miscellaneous
10.01 In our opinion and according to the information and explanations given to us the Company has not defaulted during the year in repayment of dues to any financial institution banks or debenture-holders.
10.02 The Company has not raised any funds either through initial public offer or further public offer (including debt instruments) or additional term loans during the year.
10.03 According to the information and explanations given to us no fraud by the Company or any fraud on the Company by its officers or employees has been noticed or reported during the course of our audit.
10.04 The Company has made preferential allotment / private placement of shares or fully during the year under review.
The Company has during the year made preferential allotment / private placement of shares and in our opinion has complied with the requirement of Section 42 of the Companies Act 2013. According to the information and explanations given to us in our opinion the amount raised by the Company through such preferential allotment / private placement of shares have been used for the purposes for which the funds were raised.

The Company has during the year made preferential allotment/ Private Placement ofshares and in our opinion has complied with requirement of Section 42 of the CompaniesAct 2013. According to the information and explanations given to us in our opinion theamount raised by the Company through such Preferential Allotment/ Private Placement ofshares has been used for the purpose for which the funds were raised. 10.06 Based on theinformation and explanations given to us in our opinion the company is not required tobe registered under section 45-IA of the Reserve Bank of India Act 1934

For V. Vaidyanathan & Co.
Chartered Accountants
Firm Regn. No. 111225W
Place: MUMBAI P. Balasubramanian
Date: May 30 2017. Membership No. 037504
(Partner)

ANNEXURE B TO THE INDEPENDENT AUDITOR’S REPORT

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act") as referred to in paragraph 2(f) of‘Report on Other Legal and Regulatory Requirements’ section We have audited theinternal financial controls over financial reporting of HCKK VENTURES LTD ("theCompany") as of 31-Mar-2017 in conjunction with our audit of the standalone financialstatements 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 Chartered Accountants of India". 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.

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 of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. 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 auditinvolves performing procedures to obtain audit evidence about the adequacy of the internalfinancial controls system over financial reporting and their operating effectiveness. Ouraudit 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 judgement including the assessment of the risks 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 on the Company’s internal financial controls system over financialreporting.

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: a) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; b) 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 c) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

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 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 or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at March 31 2016 based on"the internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls Over Financial Reporting issued by the Institute ofChartered Accountants of India".

For V. Vaidyanathan & Co.
Chartered Accountants
Firm Regn. No. 111225W
Place: MUMBAI Membership No. 037504
Date: 30-May-17 (Partner)