BRAND REALTY SERVCIES LIMITED
Report on the Standalone Ind AS Financial Statements
We have audited the accompanying standalone Ind AS financial statements of M/S BrandRealty Services Limited ('"the Company") which comprise the Balance Sheetas at 31st March 2019 the Statement of Profit and Loss (including other comprehensiveincome) the Statement of Changes in Equity and the Statement of Cash Flows Statement forthe year ended and a summary of significant accounting policies and other explanatoryinformation.
In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone Ind AS financial statements give the informationrequired by the Act in the manner so required and give a true and fair view in conformitywith the accounting principles generally accepted in India including Indian AccountingStandards (Ind AS) specified under section 133 of the Act of the state of affairs of theCompany as at March 31. 2019 and its loss the comprehensive income the change in equityand cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theFinancial Statements section of our report. We are independent of the Company inaccordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rules thereunder and we have fulfilled our other ethical responsibilities in accordance with theserequirements and the Code of Ethics. We believe that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters
Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the financial statements of the current period. These matterswere addressed in the context of our audit of the financial statements as a whole and informing our opinion thereon and we do not provide a separate opinion on these matters.
We have determined that there are no key audit matters to communicate in our report.
Information other than the Financial Statements and Auditors' Report thereon
The Company's Board of Directors is responsible for the other information. The otherinformation comprises the information included in the Annual Report but does not includethe financial statements and our auditors' report thereon.
Our opinion on the financial statements does not cover the other information and we donot express any form of assurance conclusion thereon.
In connection with our audit of the financial statements our responsibility is to readthe other information and in doing so consider whether the other information ismaterially inconsistent with the financial statements or our knowledge obtained in theaudit or otherwise appears to be materially misstated. If based on the work we have
performed we conclude that there is a material misstatement of this other informationwe are required to report that fact. We have nothing to report hr this regard.
Management's Responsibility for the Standalone 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 financial statements that give a true and fair view of the financial positionfinancial performance including other comprehensive income cash flows and change inequity of the Company in accordance with the Indian Accounting Standards (Ind AS)prescribed under Section 133 of the Act read with the Companies (Indian Accountingstandards) Rules 2015 as amended and other accounting principles generally accepted inIndia.
This responsibility also includes the maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting the frauds and other irregularities selection andapplication of appropriate accounting policies making judgments and estimates that arereasonable and prudent and design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to the preparation and presentation ofthe standalone financial statements that give a true and fair view and are free from anymaterial misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these standalone financial statementsbased on our audit.
In conducting our audit we have taken into account the provisions of the Act theaccounting and auditing standards and matters which are required to be included in theaudit report under the provisions of the Act and the Rules made there under and the Orderissued under Section 143(11) of the Act.
We conducted our audit of the standalone financial statements in accordance with theStandards on auditing specified under Section 143(10) of the Act. Those Standards requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the standalone financial statements are free from anymaterial misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts andthe disclosures in the standalone financial statements. The procedures selected depend onthe auditor's judgment including the assessment of the risks of material misstatement ofthe standalone financial statements whether due to fraud or error. In making those riskassessments the auditor considers internal financial control relevant to the Company'spreparation of the standalone financial statements that give atrue and fair view in orderto design audit procedures that are appropriate in the circumstances. An audit alsoincludes evacuating 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 standalone financial statements.
We believe that the audit evidence obtained by us is sufficient and appropriate toprovide a basis for our audit opinion on the standalone financial statements.
Report on other Legal and Regulatory Reouirements
1. As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India
in terms of Section 143(11) of the Act we give in the Annexure A' a statement onthe matters specified 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 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 requir ed 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 including comprehensive incomeStatement of Changes in Equity and the Statement of Cash Flows dealt with by this Reportare in agreement with the relevant books of account.
(d) in our opinion the afore said stand alone financial statements comply with theAccounting Standards Specified under Section 133 of the Act.
(e) On the basis of the written representations received from the directors as on March31 2019 taken on record by the Board of Directors none of the directors rs disqualifiedas on March 312019 from being appointed as a director in terms of Section 164 (2) of theAct.
(f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operating effectiveness of such controls refer to ourseparate Report in Annexure A. Our report expresses an unmodified opinion on the adequacyand operating effectiveness of the Company's internal financial control over financialreporting.
(g) With respect to the other matters to be included in the Auditors' Report inaccordance with Rule 11 of the Companies( Audit and Auditors) Rules. 2014 as amended inour opinion and to the best of our information and according to the explanations give tous:
i. The Company has not disclosed the impact of pending litigation on its financialposition in its standalone financial statements of lease hold residential plot carryingvalue of Rs.3.69 lakhs which is under dispute.
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 by the Company to theInvestor Education and Protection Fund.
| ||FOR BANSAL ANUPAM & CO. |
| ||Chartered Accountants |
| ||(Firm Registration No. 05315C) |
| ||Sd/- |
|Place:- Delhi Date 30-05-2019 ||ANUPAM BANSAL (Proprietor) M.No.074136 |