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Filtra Consultants & Engineers Ltd.

BSE: 539098 Sector: Engineering
NSE: N.A. ISIN Code: INE541R01019
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NSE 05:30 | 01 Jan Filtra Consultants & Engineers Ltd
OPEN 15.00
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VOLUME 9000
52-Week high 18.00
52-Week low 8.10
P/E 9.43
Mkt Cap.(Rs cr) 12
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 15.00
CLOSE 15.00
VOLUME 9000
52-Week high 18.00
52-Week low 8.10
P/E 9.43
Mkt Cap.(Rs cr) 12
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Filtra Consultants & Engineers Ltd. (FILTRACONSULT) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

FILTRA CONSULTANTS AND ENGINEERS LIMITED

Report on the Audit of the Standalone Financial Statement

Opinion

We have audited the standalone financial statements of FILTRACONSULTANTS AND ENGINEERS LIMITED ("the Company") which comprise the balancesheet as at 31st March 2020 and the statement of profit and loss andstatement of cash flows for the year then ended and notes to the financial statementsincluding a summary of significant accounting policies and other explanatory 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 in the manner so required and give a trueand fair view in conformity with the accounting principles generally accepted in India ofthe state of affairs of the Company as at 31st March 2020 and its profit andits cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing(SAs) specified under section 143(10) of the Companies Act 2013. 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 together with the ethical requirements that are relevant to our audit of thefinancial statements under the provisions of the Companies Act 2013 and the Rulesthereunder and we have fulfilled our other ethical responsibilities in accordance withthese requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter:

1. The Management believes that no adjustments are required in theStandalone Annual Financial Results as it does not impact the financial year ended 31stMarch 2020 however in view of the various preventive measures taken (such as completelock-down restrictions by the Government of India travel restrictions etc.) and highlyuncertain economic environment a definitive assessment of the impact on the subsequentperiods is highly dependent upon circumstances as they evolve.

2. On account of the COVID-19 related lockdown restrictions managementwas able to perform year end physical verification of inventories only at certainlocations subsequent to the year-end. Also we were not able to physically observe thestock verification where carried out by management. Consequently we have performedalternate procedures to audit the existence of inventory as per the guidance provided inSA 501 "Audit Evidence - Specific Considerations for Selected Items" and haveobtained sufficient appropriate audit evidence to issue our unmodified opinion on theseStandalone Annual Financial Results.

Key Audit Matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the financial statements of the current period.These matters were addressed in the context of our audit of the financial statements as awhole and in forming our opinion thereon and we do not provide a separate opinion onthese matters.

We have determined that there are no key audit matters to becommunicated in our report .

Information Other than the Financial Statements and Auditor's ReportThereon

The Company's Board of Directors is responsible for the otherinformation. The other information comprises the information included in the AnnualReport but does not include the financial statements and our auditor's report thereon.

Our opinion on the financial statements does not cover the otherinformation and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements ourresponsibility is to read the other information and in doing so consider whether theother information is materially inconsistent with the financial statements or ourknowledge obtained in the audit or otherwise appears to be materially misstated. If basedon the work we have performed we conclude that there is a material misstatement of thisother information we are required to report that fact. We have nothing to report in thisregard.

Responsibilities of Management and Those Charged with Governance forthe Standalone Financial Statements

The Company's Board of Directors is responsible for the matters statedin Section 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone financial statements that give a true and fair view of thefinancial position financial performance and cash flows of the Company in accordancewith the accounting principles generally accepted in India including the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding of theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

In preparing the financial statements the Board of Directors 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 the Board of Directors either intends to liquidate the Companyor to cease operations or has no realistic alternative but to do so.

Those Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether thefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a high level of assurance but is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these standalone financial statements.

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

• Identify and assess the risks of material misstatement of thestandalone financial statements whether due to fraud or error design and perform auditprocedures responsive to those risks and obtain audit evidence that is sufficient andappropriate 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.

• Obtain an understanding of internal control relevant to theaudit in 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 with reference to standalonefinancial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and thereasonableness of accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the goingconcern basis of accounting and based on the audit evidence obtained whether a materialuncertainty exists related to events or conditions that may cast significant doubt on theCompany's ability to continue as a going concern. If we conclude that a materialuncertainty exists we are required to draw attention in our auditor's report to therelated disclosures in the standalone 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 conditions maycause the Company to cease to continue as a going concern.

• Evaluate the overall presentation structure and content of thestandalone financial statements including the disclosures and whether the standalonefinancial statements represent the underlying transactions and events in a manner thatachieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding theStandalone Financial Results of the Company to express an opinion on the StandaloneFinancial Statement .

Materiality is the magnitude of misstatements in the StandaloneFinancial Statements that individually or in aggregate makes it probable that theeconomic decisions of a reasonably knowledgeable user of the Standalone Financial Resultsmay be influenced. We consider quantitative materiality and qualitative factors in

(i) planning the scope of our audit work and in evaluating the resultsof our work; and (ii) to evaluate the effect of any identified misstatements in theStandalone Financial Statements.

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 standalonefinancial statements of the current period and are therefore the key audit matters. Wedescribe these matters in our auditors' report unless law or regulation precludes publicdisclosure about the matter or when in extremely rare circumstances we determine that amatter should not be communicated in our report because the adverse consequences of doingso would reasonably be expected to outweigh the public interest benefits of suchcommunication.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditors' Report) Order2016("theOrder") issued by the Central Government of India in terms of sub section (11) ofsection 143 of the Companies Act 2013. We give in the "Annexure A" statementson the matters specified in paragraphs 3 and 4 of the order to the extent applicable.

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 relatingto the preparation of aforesaid standalone financial statements have been kept by theCompany so far as it appears from our examination of those books.

(c) The standalone Balance Sheet the standalone Statement of Profitand Loss and the standalone cash flow statement dealt with by this Report are inagreement 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 31/03/2020 taken on record by the Board of Directors none of thedirectors is disqualified as 31/03/2020 from being appointed as a director in termsof Section 164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controlsover financial reporting of the Company and the operating effectiveness of such controlsrefer to our separate report in "Annexure B".

(g) In our opinion the managerial remuneration for the year ended31/03/2020 has been paid/provided by the company to its directors in accordance with theprovisions of section 197 read with Schedule V of the Act.

(h) With respect to the other matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 inour opinion and to the best of our information and according to the explanations given tous:

i. The Company does not have any litigations pending whose impactrequired to disclose on its financial position.

ii. The Company has made provision as required under the applicablelaw or accounting standards for material foreseeable losses if any on long-termcontracts including derivative contracts.

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

Date : 15.07.2020 FOR KRUNAL M. SHAH AND CO.
Place : MUMBAI (Chartered Accountants)
Reg No. :131794W
Sd/-
KRUNAL M. SHAH
Partner
M.No.:115075
UDIN: 20115075AAAAAG5429

ANNEXURE - A

Reports under The Companies (Auditor's Report) Order 2016 (CARO 2016)for the year ended on 31st March 2020

To

The Members of FILTRA CONSULTANTS AND ENGINEERS LIMITED

(i) In Respect of Fixed Assets

(a) The company has maintained proper records showing full particularsincluding quantitative details and situation of fixed assets.

(b) Fixed assets have been physically verified by the management atreasonable intervals; No material discrepancies were noticed on such verification.

(c) Title Deeds of all Immovable Properties are held in the Name of theCompany.

(ii) In Respect of Inventories

Physical verification of inventory except goods-in-transit has beenconducted at reasonable intervals by the management. The discrepancies noticed onverification between the physical stocks and the book records were not material.

(iii) Compliance under section 189 of The Companies Act 2013

The company has not granted any loans secured or unsecured tocompanies firms or other parties covered in the register maintained u/s 189 of thecompanies Act-2013.Accordingly clause (iii)(a) (iii)(b) (iii) (c) are not applicable tothe Company for the Current year.

(a) N.A.

(b) N.A.

(c) N.A.

(iv) Compliance under section 185 and 186 of The Companies Act 2013

The Company has not entered into any transaction for loansinvestments guarantees and security under provisions of section 185 and 186 of theCompanies Act 2013 during the year.

(v) Compliance under section 73 to 76 of The Companies Act 2013 andRules framed thereunder while accepting Deposits

The company has not accepted any Deposits from the Public.

(vi) Maintenance of cost records

The Company is not required to maintain cost records pursuant to theRules made by the Central Government for the maintenance of cost records under sub-section(1) of section 148 of the Companies Act 2013.

(vii) Deposit of Statutory Dues

(a) The company is regular in depositing the undisputed statutory duesincluding provident fund employees' state insurance income tax sales tax wealth taxservice tax custom duty excise duty. Cess and other statutory dues applicable to theCompany with the appropriate authorities. No undisputed amounts payable in respect of theaforesaid statutory dues were outstanding as at the last day of the financial year for aperiod of more than six months from the date they became payable.

(b) There is no dispute with the revenue authorities regarding any dutyor tax payable.

(viii) Repayment of Loans and Borrowings

According to the records of the Company examined by us and theinformation and explanations given to us the Company has not defaulted in repayment ofloans or borrowing to banks. The Company has not issued debentures nor borrowed any fundsfrom financial institutions or Government.

(ix) Utilization of Money Raised by Public Offers and Term Loan Forwhich they Raised

The moneys raised by way of initial public offer were applied for thepurpose for which it has been raised by the company.

(x) Reporting of Fraud During the Year

Based on our audit procedures and the information and explanation madeavailable to us no such fraud noticed or reported during the year.

(xi) Managerial Remuneration

Managerial remuneration has been paid or provided in accordance withthe requisite approvals mandated by the provisions of section 197 read with Schedule V tothe Companies Act.

(xii) Compliance by Nidhi Company Regarding Net Owned Fund toDeposits Ratio

As per information and records available with us The company is notNidhi Company.

(xiii) Related party compliance with Section 177 and 188 of companiesAct - 2013

Yes All transactions with the related parties are in compliance withsection 177 and 188 of Companies Act 2013 where applicable and the details have beendisclosed in the Financial Statements etc. as required by the applicable accountingstandards.

(xiv) Compliance under section 42 of Companies Act - 2013 regardingPrivate placement of Shares or Debentures

The Company has not made any preferential allotment or privateplacements of shares or convertible debentures during the year under review.

(xv) Compliance under section 192 of Companies Act - 2013

The company has not entered into any non-cash transactions withdirectors or persons connected with him

(xvi) Requirement of Registration under 45-IA of Reserve Bank ofIndia Act 1934

The company is not required to be registered under section 45-IA of theReserve Bank of lndia Act.

FOR KRUNAL M. SHAH AND CO.
(Chartered Accountants)
Place : MUMBAI Reg No. :131794W
Date : 15.07.2020
Sd/-
KRUNAL M. SHAH
(Partner)
Membership No. : 115075
UDIN: 20115075AAAAAG5429

"Annexure B" to the Independent Auditor's Report of even dateon the Standalone Financial Statements of FILTRA CONSULTANTS AND ENGINEERS LIMITED for theyear ended 31st March 2020

Report on the Internal Financial Controls under Clause (i) ofSub-section 3 of Section 143 of the Companies Act 2013 ("the Act")

We have audited the internal financial controls over financialreporting of FILTRA CONSULTANTS AND ENGINEERS LIMITED ("The Company") as ofMarch 31 2020 in conjunction with our audit of the standalone financial statements of theCompany for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing andmaintaining internal financial controls based on the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India. Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internalfinancial controls over financial reporting based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting (the "Guidance Note") and the Standards on Auditing issued by ICAIand deemed to be prescribed under section 143(10) of the Companies Act 2013 to theextent applicable to an audit of internal financial controls both applicable to an auditof Internal Financial Controls and both issued by the Institute of Chartered Accountantsof India. 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 evidenceamount the adequacy of the internal financial control system over financial reporting andtheir operating effectiveness. Our audit of internal financial controls over financialreporting assessing the risk that a material weakness exists and operating effectivenessof internal control based on the assessed risk. The procedures selected depend upon on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internal financialcontrols system over financial reporting with reference to these financial statements.

Meaning of Internal Financial Controls over Financial Reporting

A company's internal financial control over financial reporting is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized 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 FinancialReporting

Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion the Company has in all material respects an adequateinternal financial controls system over financial reporting and such internal financialcontrols over financial reporting were operating effectively as at March 31 2020 basedon the internal control over financial reporting criteria established by the Companyconsidering the essential components of internal control stated in the Guidance Note onAudit of Internal Financial Controls over Financial Reporting issues by the Institute ofChartered Accountants of India.

Date : 15.07.2020 FOR KRUNAL M. SHAH AND CO.
Place : MUMBAI (Chartered Accountants)
Reg No. :131794W
Sd/-
KRUNAL M. SHAH
Partner
M.No.:115075
UDIN: 20115075AAAAAG5429

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