You are here » Home » Companies » Company Overview » Universal Office Automation Ltd

Universal Office Automation Ltd.

BSE: 523519 Sector: Others
NSE: N.A. ISIN Code: INE951C01012
BSE LIVE 10:49 | 16 Aug 3.10 0.11
(3.68%)
OPEN

3.10

HIGH

3.10

LOW

3.10

NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 3.10
PREVIOUS CLOSE 2.99
VOLUME 1
52-Week high 6.40
52-Week low 2.67
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.10
Sell Qty 12.00
OPEN 3.10
CLOSE 2.99
VOLUME 1
52-Week high 6.40
52-Week low 2.67
P/E
Mkt Cap.(Rs cr) 5
Buy Price 0.00
Buy Qty 0.00
Sell Price 3.10
Sell Qty 12.00

Universal Office Automation Ltd. (UNIVERSALOFFICE) - Auditors Report

Company auditors report

To

The Members of

UNIVERSAL OFFICE AUTOMATION LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying financial statements of Universal Office AutomationLimited ('the Company') which comprise the balance sheet as at 30th June 2015 thestatement of Profit and Loss and the Cash Flow Statement for the period then ended and asummary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparationand presentation of these standalone financial statements that give a true and fair viewof the financial position financial performance and cash flows of the Company inaccordance with the accounting principles generally accepted in India including theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding the assets of the Company andfor preventing 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 adequate internal financialcontrols that were operating effectively for ensuring the accuracy and completeness ofthe accounting 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.

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.

Except as matters stated in Emphasis of Matter given below we conducted our audit inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the financial statements are free frommaterial misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts andthe 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 the accounting policies used and thereasonableness of the accounting estimates made by the Company's Directors as well asevaluating the overall presentation 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 standalone financial statements.

Opinion

Subject to the matters stated in Emphasis of MatterIn our opinion and to the best ofour information and according to the explanations given to us the aforesaid financialstatements give the information required by the Act in the manner so required and give atrue and fair view in conformity with the accounting principles generally accepted inIndia of the state of affairs of the Company as at 30th June 2015 and its profit and itscash flow for the period ended on that date.

Emphasis of Matter

Without qualifying our report we draw attention to a) Sub note (g) of Note 2.1regarding Deferred tax assets.

b) Note24 : Though the company has incurred losses far in excess of paid up capital andreserves since the director's are looking for right opportunity to explore the similarline of business of activity the directors consider that it is appropriate to preparethe financial statements on going concern basis.

Report on Other Legal and Regulatory Requirements

1. As required by Companies (Auditor's Report) Order 2015 ('the order') issued by thecentreal government of India in terms of sub-section (11) of Section 143 of the Act wegive in the annexure a statement on the matters specified in paragraphs 3 and 4 of theorder 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 it 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 30thJune 2015 and taken on record by the Board of Directors none of the directors isdisqualified as on 30th June 2015 from being appointed as a director in terms of Section164 (2) of the Act; and

f. With respect to the other matters included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to thebest 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 except as stated in para 7 (c) of annexure to Independent Auditor's Report.

ii. The Company did not have any long-term contracts including derivatives contractsfor which there were any material foreseeable losses.

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

Place: New Delhi For S.D. Chopra & Assosciates
Date: 27th August 2015 Chartered Accountants
Firm Registration No. 003789N
S.D. Chopra
Proprietor
Membership No. 082537

Annexure to Independent Auditor's Report -30th June 2015

(Referred to in our report of even date)

1. a) The Company has maintained proper records showing full particulars includingquantitative details and situation of all its fixed assets.

b) The fixed assets have been physically verified by the Management during the periodat reasonable intervals and no material discrepancies were noticed.

c) None of the fixed assets have been disposed off during the period.

2. The Company did not have any stock at the end of the period

3. The Company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Act.

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 assets and for the sale of goodsand services.

5. In our opinion and according to the information and explanations given to us theCompany has not accept deposits as per the directives issued by the Reserve Bank of Indiaunder the provisions of Sections 73 to 76 or any other relevant provisions of the Act andthe rules framed there under.

6. The Central Government has not prescribed maintenance of cost records under Section148(1) of the Act for any of the products of the Company.

7. (a) According to the records of the company the company is generally regular indepositing with appropriate authorities undisputed statutory dues including providentfund income tax sales tax cess and other statutory dues applicable to it.

(b) According to the information and explanations given to us no undisputed amountspayable in respect of income tax wealth tax sale tax service tax custom duty andexcise duty were outstanding as at 30th June 2015 for a period exceeding six months fromthe date they became payable.

(c) According to the information and explanations given to us there are no dues ofsales tax income tax custom duty wealth tax excise duty and cess which have not beendeposited on account of any dispute except

Name of statute Nature of the dues Amount (Rs. in lacs) Forum where the dispute is pending
Central Excise 1944 Excise Duty 0.83 Collector of Act Central Excise
Customs Act 1962 Custom Duty 241.00 Collector of Custom
Sales Tax & various other 30.44 Sales Tax Tribunal
Acts 53.57 Dy.Commissioner/Commissioner (Appeal)

(d) According to the information and explanation given to us there are no duesrequired to be transferred to investor education and protection fund in accordance withthe relevant provisions of the Companies Act1956 (1 of 1956) and rules made there under.

8. In our opinion the accumulated losses of the company are more than fifty percent ofits net worth. The company has incurred cash losses during the financial period covered byour audit and has not incurred in the immediately preceding financial year.

9. In our opinion and according to the information and explanations given to us theCompany does not have any borrowings from financial institution bank or debentureholders.

10. According to the information and explanations given to us the Company has notgiven any guarantee for loans taken by others from banks or financial institutions.

11. In our opinion and according to the information and explanations given to us Thecompany has not raised any term loan during the period.

12. According to the information and explanations given to us no fraud on or by theCompany has been noticed or reported during the course of our audit.

Place: New Delhi For S.D. Chopra & Assosciates
Date: 27th August 2015 Chartered Accountants
Firm Registration No. 003789N
S.D. Chopra
Proprietor
Membership No. 082537