You are here » Home » Companies » Company Overview » Warner Multimedia Ltd

Warner Multimedia Ltd.

BSE: 511690 Sector: Financials
NSE: N.A. ISIN Code: INE407B01017
BSE LIVE 10:30 | 31 Jul Stock Is Not Traded.
NSE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.96
PREVIOUS CLOSE 0.96
VOLUME 50
52-Week high 1.22
52-Week low 0.96
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.95
Sell Qty 2660.00
OPEN 0.96
CLOSE 0.96
VOLUME 50
52-Week high 1.22
52-Week low 0.96
P/E
Mkt Cap.(Rs cr) 2
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.95
Sell Qty 2660.00

Warner Multimedia Ltd. (WARNERMULTI) - Auditors Report

Company auditors report

To the Members of Warner Multimedia Limited Report on the Financial Statements

We have audited the accompanying financial statements of M/s. Warner MultimediaLimited which comprise the Balance Sheet as at 31st March 2015 the Statement ofProfit and Loss and the Cash Flow Statement for the year then ended and a summary of thesignificant accounting policies and other explanatory information.

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 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

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 issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withthe ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatement.

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 control relevant to the Company’s preparation and fairpresentation of the financial statements in order to design audit procedures that areappropriate in the circumstances but not for the purpose of expressing an opinion on theeffectiveness of the Company’s internal control. An audit also includes evaluatingthe appropriateness of accounting policies used and the reasonableness of the accountingestimates made by management as well as evaluating the overall presentation of thefinancial 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 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: a) in the case of the Balance Sheet of the stateof affairs of the Company as at 31st March 2015; b) in the case of theStatement of Profit and Loss of the Loss of the Company for the year ended on thatdate and c) in the case of the Cash Flow Statement of the cash flows of the Company forthe year ended on that date.

Report on Other Legal and Regulatory Requirements

1. 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 Act we give in the Annexure a statement on the matters Specified inparagraphs 3 and 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 written representations received from the directors as on 31 March2015 taken on record by the Board of Directors none of the directors is disqualified ason 31 March 2015 from being appointed as a director in terms of Section 164(2) of theAct.

f) With respect to the other matters to be included in the Auditor’s Report inaccordance with Rule 11 of the Companies Act 2013 (Audit and Auditors) Rules 2014 inour opinion and to the best of our knowledge and belief and according to the informationand 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 derivatives contractsfor which there were any material foreseeable losses;

iii. The Company was not required to transfer any fund into the Investors Education andProtection Fund during the year.

For B. S. kedia & Co.
Chartered Accountants
ICAI Registration No. 317159E
Vikash kedia
Place : Kolkata Partner
Date : May 29 2015 Membership No. 066852

Annexure to the Auditors’ Report

Referred to in paragraph 1 under ‘Report on Other Legal and RegulatoryRequirements’ of our Report of even date to the members of Warner Multimedia Limitedon the accounts of the company for the year ended 31st March 2015.

On the basis of such checks as we considered appropriate and according to theinformation and explanation given to us during the course of our audit we report that:

(i) In respect of Fixed Assets:

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

b) As explained to us fixed assets have been physically verified by the management atreasonable intervals; no material discrepancies were noticed on such verification.

c) In our opinion and according to the information and explanations given to us nofixed asset has been disposed during the year and therefore does not affect the goingconcern assumption.

(ii) In respect of its Inventories:

(a) The inventory of shares held in demat form have been verified or confirmed with thestatement of holdings provided by the Depository and in respect of securities not in dematform have been physically verified by the management at reasonable intervals.

(b) In our opinion and according to the information and explanations given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

(c) In our opinion and on the basis of our examination of the records the Company isgenerally maintaining proper records of its inventories. No material discrepancy wasnoticed on physical verification.

(iii) In respect of loans secured or unsecured granted to the parties covered inregister maintained under section 189 of the Companies Act 2013:

a) According to the information and explanations given to us the Company has notgranted any loans to companies firms or other parties covered in the Register maintainedunder Section 189 of the Companies Act 2013; and therefore paragraph 3(iii) of the Orderis not applicable.

(iv) In our opinion and according to the information and explanations given to usthere are adequate internal control procedures commensurate with the size of the companyand the nature of its business for the purchase of inventory fixed assets and for thesale of goods (and/services). During the course of our Audit we have not observed anycontinuing failure to correct major weaknesses in internal control.

(v) The company has not received any public deposits during the year.

(vi) As informed to us the Central Government has not prescribed maintenance of costrecords under sub-section (1) of Section 148 of the Act in respect of the activitiescarried on by the Company.

(vii) In respect of statutory dues:

a) According to the records of the company and information and explanations givento us the Company has generally been regular in depositing undisputed statutory duesincluding Provident Fund employees state insurance (ESI) Investor Education andProtection Fund Income-tax Tax deducted at sources

Tax collected at source Professional Tax Sales Tax value added tax (VAT) WealthTax Service Tax Custom Duty Excise Duty Cess and other material statutory duesapplicable to it with the appropriate authorities.

b) According to the information and explanations given to us there were noundisputed amounts payable in respect of Income-tax Wealth Tax Custom Duty Excise Dutysales tax VAT Cess and other material statutory dues in arrears /were outstanding as at31 March 2015 for a period of more than six months from the date they became payable.

c) According to the information and explanations given to us there were no amountswhich required to be transferred by the Company to the Investor Education and ProtectionFund.

(viii) The company is having accumulated losses at the end of financial year. Furtherthe company has incurred Cash losses of Rs. 3.78 Lac during the financial covered by ourAudit and the immediately preceding financial year.

(ix) In our opinion and according to the information and explanations given to us theCompany has defaulted in the repayment of dues to financial institutions namely RuralElectrification Corporation of Rs. 240.05 Crore but has not defaulted in the repaymentsto banks and debenture holders. Further the Company has not provided for interest on saidLoan as the matter is in the Court of Law for hearing.

(x) In our opinion and according to the information and the explanation given to usthe company has not given any guarantee for loans taken by others from banks or financialinstitutions during the year.

(xi) The company has not obtained any term loan during the year so this para of orderis not applicable.

(xii) To the best of our knowledge and according to the information and explanationsgiven to us no fraud by the Company and no material fraud on the Company has been noticedor reported during the year.

For B. S. kedia & Co.
Chartered Accountants
ICAI Registration No. 317159E
Vikash kedia
Place : Kolkata Partner
Date : May 29 2015 Membership No. 066852