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BCL Enterprises Ltd.

BSE: 539621 Sector: Financials
NSE: N.A. ISIN Code: INE368E01023
BSE 00:00 | 05 Aug 1.91 0
(0.00%)
OPEN

1.82

HIGH

2.00

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1.79

NSE 05:30 | 01 Jan BCL Enterprises Ltd
OPEN 1.82
PREVIOUS CLOSE 1.91
VOLUME 967077
52-Week high 5.38
52-Week low 0.34
P/E 2.55
Mkt Cap.(Rs cr) 22
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.82
CLOSE 1.91
VOLUME 967077
52-Week high 5.38
52-Week low 0.34
P/E 2.55
Mkt Cap.(Rs cr) 22
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

BCL Enterprises Ltd. (BCLENTERPRISES) - Auditors Report

Company auditors report

TO THE MEMBERS OF BCL ENTERPRISES LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of BCLENTERPRISES LIMITED ("the Company") which comprise the Balance Sheet as at 31stMarch 2021 the Statement of Profit and Loss including the Statement of OtherComprehensive Income and statement of Cash Flow and the Statement of Changes in Equity forthe year then ended including a summary of the significant accounting policies and otherexplanatory information.

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid standalone financial statements give theinformation required by the Companies Act 2013 ("the Act") in the manner sorequired and give a true and fair view subject to the Note No. 39 and Note no. 40 of thefinancial statements in conformity with the accounting principles generally accepted inIndia of the state of affairs of the Company as at 31 March 2021 and its Profit and itscash flows for the year ended on that date.

Basis for Opinion

We conducted our audit of the financial statements in accordance withthe Standards on Auditing specified under Section 143(10) of the Act. Our responsibilitiesunder those Standards are further described in the Auditor's Responsibilities for theAudit of the Financial Statements section of our report. We are independent of the Companyin accordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia (ICAI) together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Act and the Rules thereunder and we havefulfilled our other ethical responsibilities in accordance with these requirements and theICAI's Code of Ethics. We believe that the audit evidence we have obtained issufficient and appropriate to provide a basis for our opinion on the financial statements.

Responsibility of Management's for the Standalone FinancialStatements

The Company's Board of Directors is responsible for the mattersstated in section 134(5) of the Act with respect to the preparation of these standaloneInd AS financial statements that give a true and fair view of the financial positionfinancial performance including other comprehensive income cash flows and changes inequity of the Company in accordance with the accounting principles generally accepted inIndia including the Indian Accounting Standards (Ind AS) specified under section 133 ofthe Act read with the Companies (Indian Accounting Standards) Rules 2015 as amended.This responsibility also includes maintenance of adequate accounting records in accordancewith the provisions of the Act for safeguarding of 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 the 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 standalone IndAS financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

In preparing the standalone Ind AS financial statements Management isresponsible for assessing the Company' s ability to continue as a going concerndisclosing as applicable matters related to going concern and using the going concernbasis of accounting unless Management either intends to liquidate the Company or to ceaseoperations or has no realistic alternative but to do so.

Those charged with governance are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibility for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether thestandalone Ind AS financial statements as a whole are free from material misstatementwhether due to fraud or error and to issue an auditor's report that includes ouropinion. Reasonable assurance is a high level of assurance but is not a guarantee that anaudit conducted in accordance with SAs will always detect a material misstatement when itexists. Misstatements can arise from fraud or error and are considered material ifindividually or in the aggregate they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these standalone Ind AS financialstatements.

As part of an audit in accordance with SAs we exercise professionaljudgment and maintain professional skepticism throughout the audit. We also:

(a) Identify and assess the risks of material misstatement of thestandalone Ind AS financial statements whether due to fraud or error design and performaudit procedures responsive to those risks and obtain audit evidence that is sufficientand appropriate to provide a basis for our opinion. The risk of not detecting a materialmisstatement resulting from fraud is higher than for one resulting from error as fraudmay involve collusion forgery intentional omissions misrepresentations or the overrideof internal control.

(b) Obtain an understanding of internal control relevant to the auditin order to design audit procedures that are appropriate in the circumstances. Undersection 143(3)(i) of the Act we are also responsible for expressing our opinion onwhether the Company has adequate internal financial controls system in place and theoperating effectiveness of such controls.

(c) Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made by Management.

(d) Conclude on the appropriateness of Management' s use of thegoing concern basis of accounting and based on the audit evidence obtained whether amaterial uncertainty exists related to events or conditions that may cast significantdoubt on the Company's ability to continue as a going concern. If we conclude that amaterial uncertainty exists we are required to draw attention in our auditors'report to the related disclosures in the financial statements or if such disclosures areinadequate to modify our opinion. Our conclusions are based on the audit evidenceobtained up to the date of our auditors' report. However future events or conditionsmay cause the Company to cease to continue as a going concern.

(e) Evaluate the overall presentation structure and content of thestandalone Ind AS financial statements including the disclosures and whether thestandalone Ind AS financial statements represent the underlying transactions and events ina manner that achieves fair presentation.

We communicate with those charged with governance regarding amongother matters the planned scope and timing of the audit and significant audit findingsincluding any significant deficiencies in internal control that we identify during ouraudit.

We also provide those charged with governance with a statement that wehave complied with relevant ethical requirements regarding independence and tocommunicate with them all relationships and other matters that may reasonably be thoughtto bear on our independence and where applicable related safeguards.

From the matters communicated with those charged with governance wedetermine those matters that were of most significance in the audit of the standalone IndAS financial statements for the financial year ended 31 March 2021 and are therefore thekey audit matters. We describe these matters in our auditors' report unless law orregulation precludes public disclosure about the matter or when in extremely rarecircumstances we determine that a matter should not be communicated in our report becausethe adverse consequences of doing so would reasonably be expected to outweigh the publicinterest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by ‘the Companies (Auditor's Report) Order2016' ("the Order") issued by the Central Government of India in terms ofsub-section (11) of section 143 of the Companies Act 2013 (hereinafter referred to as the"Order") we give in the Annexure ‘I' a statement on the mattersspecified in paragraphs 3 and 4 of the Order.

2. As required by Section 143 (3) of the Act we report that:

(a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

(b) In our opinion proper books of account as required by law havebeen kept by the Company so far as it appears from our examination of those books.

(c) The Balance Sheet the Statement of Profit and Loss and the CashFlow Statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statementscomply with the Accounting Standards specified under Section 133 of the Act read withRule 7 of the Companies (Accounts) Rules 2014.

(e) On the basis of the written representations received from thedirectors as on 31st March 2021 taken on record by the Board of Directors none of thedirectors is disqualified as on 31st March 2021 from being appointed as a director interms of Section 164 (2) of the Act.

(f) In our opinion the company has in all material respectsreasonably adequate internal financial controls system over financial reporting keepingin view the size of the company and nature if its business. Such Internal financialcontrols over the financial reporting were operating effectively as on 31.03.2021 basedon the internal control over financial reporting criteria established by the companyconsidering the essential components of internal control stated in the Guidance Note" Audit of Internal Financial Controls Over Financial Reporting " issued by Theinstitute of Chartered accountants of India.

(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 in our opinion and to the best of our information and according to theexplanations given to us:

i. The Company does not have any pending litigations on its financialposition in its financial statements.

ii. According to the information and explanations provided to us theCompany did not have any long-term contracts including derivative contracts for whichthere were any material foreseeable losses.

iii. There has been no delay in transferring amounts required to betransferred to the Investor Education and Protection Fund by the Company.

For Krishan Rakesh & Co.
Chartered Accountants
Firm Regn. No. 009088N
Place : Delhi K.K. Gupta
Dated : 30-06-2021 (Partner)
UDIN : 21087891AAAACN3433 M.No. 87891

Annexure - I referred to in paragraph 1 of the Auditors' report onaccounts for the year ended 31st March 2021

1. a) The company is maintaining proper records showing fullparticulars including quantitative details and situation of fixed assets.

b) As explained to us all the fixed assets have been physicallyverified by the management in a phased periodical manner which in our opinion isreasonable having regard to the size of the Company and nature of its assets. No materialdiscrepancies were noticed on such physical verification.

c) According to information & explanation given to us company doesnot have any immovable property.

2. As explained to us physical verification has been conducted by themanagement at reasonable intervals in respect of its inventories. The discrepanciesnoticed on such verification between the physical stocks and book records were notsignificant and the same have been properly dealt with in the books of account.

3. As informed to us the company has not granted loans secured orunsecured to companies firms or other parties covered in the register maintained undersection 189 of the Companies Act.

4. According to the information and explanations given to us thecompany the provisions of section 186 are not applicable to the company. We are informedthat the company has not provided any security during the year.

5. According to the information and explanations given to us thecompany has not accepted any deposits in terms of the directives issued by the ReserveBank of India and the provisions of sections 73 to 76 or any other relevant provisions ofthe Companies Act and the rules framed there under.

6. In respect of business activities of the company maintenance ofcost records has not been specified by the Central Government under sub-section (l) ofsection 148 of the Companies Act 2013.

7. a) As per information and explanations given to us the company isregular in depositing undisputed statutory dues including provident fund employees‘state insurance income-tax goods and service tax duty of customs cess and anyother statutory dues with the appropriate authorities. There are no outstanding statutorydues as at the last day of the financial year under audit for a period of more than sixmonths from the date they became payable.

b) We According to information and explanations given to us there areno dues of Income Tax Goods and Services Tax Custom Duty Cess and other statutory dueswhich have not been deposited on account of any dispute.

8. The company has not obtained any loan from Financial InstitutionBanks and Government during the period under Audit. The Company has not issued anydebentures.

9. The company has not obtained any Term Loans during the year underaudit. The company has not raised any money during the year by way initial or furtherpublic offer.

10. Based upon the audit procedures performed and information andexplanations given by the management we report that no fraud by the Company or on thecompany by its officers or employees has been noticed or reported during the course of ouraudit for the year ended 31.03.2021.

11. According to information and explanations given to us nomanagerial remuneration has been paid and provided by the company during the year inaccordance with the provisions of section 197 read with Schedule V of the Companies Act2013.

12. The provisions of clause (xii) of the order are not applicable asthe company is not a Nidhi Company as specified in the clause.

13. According to information and explanations given to us we are of theopinion that all related party transactions are in compliance with the Section 177 and 188of Companies Act 2013. Necessary disclosures has been made in the financial statements asrequired by the applicable accounting Standards.

14. According to information and explanations given to us the companyhas not made any preferential allotment or private placement of shares or debenturesduring the year.

15. According to information and explanation given to us the companyhas not entered into any non-cash transaction with the director or any person connectedwith him during the year.

16. According to the information and explanations given to us In viewof its business activities the company has obtained registration under section 45IA ofReserve Bank of India Act 1934.

For Krishan Rakesh & Co.
Chartered Accountants
Firm Regn. No. 009088N
Place : Delhi K.K. Gupta
Dated : 30-06-2021 (Partner)
UDIN : 21087891AAAACN3433 M.No. 87891

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