To the Members of
Active Clothing Co Limited
Report on the Financial Statements
We have audited the accompanying financial statements of Active Clothing Co Limited("the Company") which comprise the Balance Sheet as at March 31 2019 and theStatement of Profit and Loss the cash flow statement and the statement of changes inEquity for the year then ended and a summary of significant accounting policies and otherexplanatory 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 preparation of these financialstatements that give a true and fair view of the financial position financialperformance the Cash Flows and change in Equity in company in accordance with theaccounting principles generally accepted in India including the Indian AccountingStandards specified under section 133 of the Act read with Rule 7 of the Companies(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 these financialstatements that give a true and fair view and are free from material misstatement whetherdue to fraud or error.
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 misstatement. An audit involves performingprocedures to obtain audit evidence about the amounts and the disclosures in the financialstatements. The procedures selected depend on the auditor's judgment including theassessment of the risk of material misstatement of the financial statements whether dueto fraud or error. In making those risk assessments the auditors considers internalfinancial control relevant to the
Company's preparation of the financial statements that give a true and fair view inorder to design audit procedures that are appropriate in the circumstances. An audit alsoincludes evaluating the appropriateness of the accounting policies used and thereasonableness of the accounting estimates made by the Company's Board of Directors aswell as evaluating the overall presentation of the financial statements. We believe thatthe audit evidence we have obtained is sufficient and appropriate to provide a basis forour audit opinion on the financial statements.
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 affairs of the Company as at March31 2019 its profit its Cash Flows and the change in Equity for the year ended on thatdate.
Report on other Legal and Regulatory Requirements
1 As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central
Government in terms of Section 143(11) of the Act we give in the Annexure I astatement on the matters specified in paragraphs 3 and 4 of the Order to the extentapplicable.
2. As required by Section 143(3) of the Act we report that: a) We have sought andobtained all the information and explanations which to the best of our knowledge andbelief were necessary for the purpose of our audit. b) In our opinion proper books ofaccount as required by law have been kept by the Company so far as appears from ourexamination of those books. c) The Balance Sheet the Statement of Profit and Loss &Cash Flows statement of change in Equity dealt with by this Report are in agreement withthe books of account d) In our opinion the aforesaid financial statements comply with theIndian Accounting Standards specified under Section 133 of the Act read with theCompanies (Indian Accounting Standard) (Amendment) Rules 2016. e) On the basis of thewritten representations received from the Directors as on March 31 2019 taken on recordby the Board of Directors none of the Directors is disqualified as on March 31 2019 frombeing appointed as a Director in terms of Section 164 of the Act. f) With respect to theadequacy of the internal financial controls over financial reporting of the company andthe operating effectiveness of such controls refer to our separate report in
"Annexure-II". g) With respect to the other matters to be included in theAuditor's Report in accordance with
Rule 11 of the Companies (Audit and Auditors) Rules 2014 as amended by thecompanies(Audit and Auditors) Rules 2017 in our opinion and to the best of ourinformation and according to the explanations given to us: i) The Company has disclosedthe impact of pending litigation on its financial position in its financial statements asof March 31 2019; ii) The Company has made provisions in its financial statements asrequired under the applicable law or accounting standards for material foreseeablelosses if any on long term contracts; iii) Company is not required to transfer anyamount to the Investor Education and Protection Fund.
| ||For Jiwan Goyal & Co |
| ||Chartered Accountants |
| ||FRN 012874N |
| ||(Jiwan Goyal) |
| ||Proprietor |
| ||Membership No.: 091937 |
|DATE: 27.05.2019 || |
|Place: Mohali || |