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Bridge Securities Ltd.

BSE: 530249 Sector: Financials
NSE: N.A. ISIN Code: INE958C01017
BSE 00:00 | 24 Sep 46.95 2.20
(4.92%)
OPEN

46.95

HIGH

46.95

LOW

43.65

NSE 05:30 | 01 Jan Bridge Securities Ltd
OPEN 46.95
PREVIOUS CLOSE 44.75
VOLUME 3486
52-Week high 71.15
52-Week low 3.95
P/E 12.69
Mkt Cap.(Rs cr) 16
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 46.95
CLOSE 44.75
VOLUME 3486
52-Week high 71.15
52-Week low 3.95
P/E 12.69
Mkt Cap.(Rs cr) 16
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Bridge Securities Ltd. (BRIDGESECURITIE) - Auditors Report

Company auditors report

To

The Members

BRIDGE SECURITIES LIMITED Ahmedabad.

Report on the STANDALONE FINANCIAL STATEMENTS

We have audited the accompanying standalone financial statements of BRIDGESECURITIES LIMITED ("the Company") which comprise the Balance Sheet as atMarch 31 2020 the Statement of Profit and Loss the Cash Flow Statement for the yearthen ended and a summary of significant accounting policies and other explanatoryinformation.

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 preparation ofthese financial statements to give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 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 the ensuring the accuracy and completenessof the 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 and the Rules made there underincluding the accounting and auditing standards and matters which are required to beincluded in the audit report.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) the Act and other applicable authoritative pronouncement issued by theInstitute of Chartered Accountants of India. Those Standards and pronouncement requirethat we comply with ethical requirements and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from materialmisstatement.

An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditor'sjudgment including the assessment of the risks of material misstatement of the financialstatements whether due to fraud or error. In making those risk assessments the auditorconsiders internal financial controls 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 accurate internal financial controls systemover financial reporting and the operating effectiveness of such controls. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonablenessof the accounting estimates made by the Company's Directors as well as evaluating theoverall 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

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid standalone financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India:

a) In the case of the Balance Sheet of the state of affairs of the Company as at 31stMarch 2020

b) In the case of Statement of Profit and Loss of the loss for the year ended on thatdate; and

c) In the case of the Cash Flow Statement of the cash flows for the year ended on thatdate.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 issued by the CentralGovernment of India in terms of sub-section (11) of section 143 of the Act (hereinafterreferred to the "Order") and on the basis of such checks of the books andrecords of the Company as we considered appropriate and according to the information andexplanations given to us we give in the Annexure B a statement on the matters specifiedin 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 purpose 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 Statement of Profit and Loss and the Cash Flow Statement dealtwith by this Report are in agreement with the books of account.

d. In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

e. On the basis of written representations received from the Directors as on March 312020 and taken on record by the Board of Directors none of the directors is disqualifiedas on March 31 2020 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.

g. with respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) 2014 in our opinion and tothe best of our knowledge and belief and according to the information and explanationsgiven to us;

i. The Company does not have any pending litigations which would impact its financialposition.

ii. In our opinion and as per the information and explanations provides to us theCompany has not entered into any long-term contracts including derivative contractsrequiring provision under applicable laws or accounting standards for materialforeseeable losses and

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

For Bhaumik Shah & Co.
Chartered Accountants
(FRN-137162W)
Place: Ahmedabad Bhaumik Saurabhbhai Shah
Date: 26/06/2020 Proprietor
Partner (M. No. - 156858)
UDIN : 20156858AAAACC1132

ANNEXURE "A" TO THE INDEPENDENT AUDITORS' REPORT

Referred to in paragraph 5 (i) of our Report of even date to the Members of BRIDGESECURITIES LIMITED for the year ended 31st March 2020.

1. In respect of Fixed Assets :

(a) As per the information and explanations given to us the Company has maintainedproper records showing full particulars including quantitative details and situation ofFixed Assets.

(b) As per the information and explanations given to us the management at reasonableintervals during the year in accordance with a programme of physical verificationphysically verified the fixed assets and no material discrepancies were noticed on suchverification as compared to the available records.

(c) As per the information and explanations given to us the title deeds of allImmovable properties are held in the name of the company.

2. In respect of its Inventories :

(a) The inventory has been verified with depository during the year by the management.In our opinion the frequency of verification is reasonable.

(b) Physical verification of inventories is not necessary as inventories are held indemat form with relevant depository.

(c) On the basis of our examination of the records of inventory we are of opinion thatthe company is maintaining proper records of inventory.

3. In respect of Loans and Advances granted during the year.

As regards the loans the company has not granted unsecured loans to any partiesduring the year under audit to the companies firms and other parties covered in theregister maintained under section 189 of the Companies Act 2013. Hence clause (iii) ofcompanies (Auditor's Report) Order 2016 is not applicable.

4. Loans Investments and guarantees

According to information and explanation given to us the company has not given loansto the companies firms and other parties covered in the register maintained under section189 of the Companies Act 2013. Hence In our opinion Section 185 and 185 of the CompaniesAct 2013 and clause (iv) of companies (Auditor's Report) Order 2016 is not applicable.

5. During the year the company has not accepted any deposits and hence directivesissued by the Reserve Bank of India and the provisions of sections 73 to 76 or any otherrelevant provisions of the Companies Act 2013 and the rules framed there under are notapplicable to the company. Therefore clause (v) of companies (Auditor's Report) Order2016 is not applicable.

6. According to information and explanation given to us the company has not beenspecified by the Central Government under sub-section (1) of section 148 of the CompaniesAct 2013 in respect of the activities carried on by the company.

7. In respect of Statutory Dues :

(a) According to the records of the Company the Company is by and large regular indepositing with appropriate authorities undisputed statutory dues including duty ofexcise cess and any other statutory dues with the appropriate authorities applicable toit. According to information and explanation given to us no undisputed amount payable inrespect to statutory dues were outstanding as at 31st March 2020 for a periodof more then six months from the date they become payable.

(b) According to the records of the company there is no statutory disputed duespending as on as at 31st March 2020.

8. Based on our audit procedure and according to the information and explanationgiven to us we are of the opinion that the Company has not defaulted in repayment of duesto a Financial Institutions Banks or debenture holders.

9. According to the information and explanations given to us the company had notraised any money by way of public issue during the year. According to the information andexplanations given to us and on overall examination of balance sheet of the company inour opinion company has not availed any term loans during the year.

10. To the best of our knowledge and according to the information and explanationsgiven by the Management we report that no fraud by the company or any fraud on thecompany by its officer or employee has been noticed or reported during the course ofaudit.

11. In our opinion and according to the information and explanations given to usthe company has not paid any managerial remuneration hence provisions of section 197 readwith schedule V of The Companies Act 2013 are not triggered.

12. In our opinion and according to the information and explanations given to usthe provisions of special status applicable to chit funds nidhi / mutual benefit funds /societies are not applicable to company. Hence clause (xii) of companies (Auditor'sReport) Order 2016 is not applicable.

13. In our opinion and aaccording to the information and explanations given to usand based on our examination of the records of the Company transactions with the relatedparties are in compliance with sections 177 and 188 of The Companied Act 2013 and detailsthereof are properly disclosed in financial statement.

14. According to the information and explanations give to us and based on ourexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares during the year. Accordingly the provisions ofSection 42 of The Companies Act 2013 not applicable.

15. According to the information and explanations given to us and based on ourexamination of the records of the Company the Company has not entered into non-cashtransactions with directors or persons connected with him. Hence section 192 of TheCompanies Act 2013 is not applicable.

16. The Company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934. Hence clause (xvi) of companies (Auditor's Report) Order 2016 isnot applicable.

For Bhaumik Shah & Co.
Chartered Accountants
(FRN-137162W)
Place: Ahmedabad Bhaumik Saurabhbhai Shah
Date: 26/06/2020 Proprietor
Partner (M. No. - 156858)
UDIN : 20156858AAAACC1132

ANNEXURE "B" TO THE INDEPENDENT AUDITORS' REPORT

Referred to in paragraph 5 (ii)(f) of our Report of even date to the Members of BRIDGESECURITIES LIMITED for the year ended 31st March 2020.

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financial reporting of BRIDGESECURITIES LIMITED ("the Company") as of 31 March 2020 in conjunction withour audit of the standalone financial statements of the Company for the year ended on thatdate.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing and maintaining internalfinancial controls based on the internal control over financial reporting criteriaestablished by the Company considering the essential components of internal control statedin the Guidance Note on Audit of Internal Financial Controls over Financial Reportingissued by the Institute of Chartered Accountants of India ('ICAI'). These responsibilitiesinclude the design implementation and maintenance of adequate internal financial controlsthat were operating effectively for ensuring the orderly and efficient conduct of itsbusiness including adherence to company's policies the safeguarding of its assets theprevention and detection of frauds and errors the accuracy and completeness of theaccounting records and the timely preparation of reliable financial information asrequired under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internal financialcontrols over financial reporting based on our audit. We conducted our audit in accordancewith the Guidance Note on Audit of Internal Financial Controls over Financial Reporting(the "Guidance Note") and the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) of the Companies Act 2013 to the extentapplicable to an audit of internal financial controls both applicable to an audit ofInternal Financial Controls and both issued by the Institute of Chartered Accountants ofIndia. Those Standards and the Guidance Note require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetheradequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. Our audit of internal financial controls over financial reporting includedobtaining an understanding of internal financial controls over financial reportingassessing the risk that a material weakness exists and testing and evaluating the designand operating effectiveness of internal control based on the assessed risk. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the financial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the Company's internal financial controls systemover financial reporting.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is a process designedto provide reasonable assurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes in accordance with generallyaccepted accounting principles. A company's internal financial control over financialreporting includes those policies and procedures that (1) pertain to the maintenance ofrecords that in reasonable detail accurately and fairly reflect the transactions anddispositions of the assets of the company; (2) provide reasonable assurance thattransactions are recorded as necessary to permit preparation of financial statements inaccordance with generally accepted accounting principles and that receipts andexpenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financialreporting including the possibility of collusion or improper management override ofcontrols material misstatements due to error or fraud may occur and not be detected.Also projections of any evaluation of the internal financial controls over financialreporting to future periods are subject to the risk that the internal financial controlover financial reporting may become inadequate because of changes in conditions or thatthe degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31 March 2020 based on theinternal control over financial reporting criteria established by the Company consideringthe essential components of internal control stated in the Guidance Note on Audit ofInternal Financial Controls Over Financial Reporting issued by the Institute of CharteredAccountants of India.

For Bhaumik Shah & Co.
Chartered Accountants
(FRN-137162W)
Place: Ahmedabad Bhaumik Saurabhbhai Shah
Date: 26/06/2020 Proprietor
Partner (M. No. - 156858)
UDIN : 20156858AAAACC1132

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