To the members of
Fourth Dimension Solutions Limited
Report on the Standalone Ind AS Financial Statements
We have audited the standalone Ind AS financial statements of FOURTH DIMENSIONSOLUTIONS LIMITED ("the company") which comprise the Balance Sheet as at 31March 2017 the Statement of Profit and Loss (including other comprehensive income) thestatement of cash flows and the statement of changes in equity for the year then ended anda summary of the significant accounting policies and other explanatory informationattached herewith (herein after referred to as "standalone Ind AS financialstatements").
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 ofthese standalone Ind AS financial statements that give a true and fair view of thefinancial position financial performance including other comprehensive income cash flowsand statement of changes in equity of the Company in accordance with the accountingprinciples generally accepted in India including the Indian Accounting Standards (Ind AS)prescribed under Section 133 of the Act read with relevant rules issued thereunder.
This responsibility also includes maintenance of adequate accounting records inaccordance with the provision of the Act for safeguarding of the assets of the Company andfor 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 Ind AS financial statements that give a true and fair view and are freefrom material misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these standalone Ind AS financialstatements based on our audit.
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 standalone Ind AS financial statements are free from material misstatement.
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 standalone Ind AS financial statements whether due tofraud or error. In making those risk assessments the auditor considers internal financialcontrol relevant to the Company's preparation of the standalone Ind AS financialstatements that give true and fair view in order to design audit procedures that areappropriate in the circumstances. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made by theCompany's Directors as well as evaluating the overall presentation of the standalone IndAS 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 Ind AS financial statements.
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 information required by theAct in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India including the Ind AS of the financialposition of the Company as at 31 March 2017 and its financial performance including othercomprehensive income its cash flows and changes 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'') asamended is as issued by the
Central Government of India in terms of sub-section (11) of section 143 of the Act wegive in the "Annexure A'' a
statement on the 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 required by law have been kept by theCompany so far as appears from our examination of those books (and proper statutoryreturns adequate for the purposes of our audit have been received from the branches notvisited by us);
(c) the accounts of the branch offices of the Company not visited by us are maintainedat registered office and have been audited by us and have been properly dealt by us inpreparing this report;
(d) the Balance Sheet the Statement of Profit and Loss including other comprehensiveincome Cash Flow Statement statement of changes in equity dealt with by this Report arein agreement with the books of account (and the statutory returns received from thebranches not visited by us).
(e) according to the information and explanations given to us by the management withoutprejudice to the provisions relating to our audit and auditor thereof in our opinionthere are no observations or comments on the financial transactions which may have anadverse effect on the functioning of the Company;
(f) in our opinion the aforesaid standalone Ind AS financial statements comply withthe Accounting Standards specified under Section 133 of the Act read with relevant rulesissued thereunder;
(g) on the basis of written representations received from the directors as on 31stMarch 2017 taken on record by the Board of Directors none of the directors isdisqualified as on 31 March 2017 from being appointed as a director in terms of Section164(2) of the Act;
(h) on the basis of written representations received from the directors as on 31 March2017 the company is not been able to identify Micro & SME Organization from itsCreditors;
(i) Balances of all Debtors Creditors Advance to suppliers & Advances fromcustomers & Other Advances are subject to confirmation. The Company has dispatchedbalance confirmation letters to respective parties but majority of thesereplies/counter-statements has not been received as on the date of signing of balancesheet. In the absence of such confirmations the balances as reflected by the Companiesbooks as on 31 March 2017 have been presumed to be accurate.
(j) According to the information and explanations given to us subject to the foregoingpara without prejudice to the provisions relating to our audit and auditor thereof incase of differences between the balances including the financial disputes if any it maybe reconciled as per the mutual consent/settlement reached by both the parties inaccordance with the prevailing laws as applicable which may result into the subsequentchanges in the account balances during the financial year 2017-18 as against the balancesappearing in Company's books as on 31.03.2017 although such balances are presumed to beaccurate.
(k) 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 B" ;
(l) with respect to the other matters to be included in the Auditor's Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:
i. the Company has disclosed the impact of pending litigations including but notlimited to any material foreseeable litigations on its financial positions in itsfinancial statements as of 31 March 2017.
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 were required to be transferred to the InvestorEducation and Protection Fund by the Company;
iv. the Company has provided requisite disclosures in its standalone Ind AS financialstatements as to holdings as well as dealings in Specified Bank Notes during the period 08November 2016 to 30 December 2016 and these are in accordance with the books of accountsmaintained by the Company.
|FOR SAIN KANWAR & ASSOCIATES |
|Chartered Accountants |
|Firm Reg. No. 018023N |
|KANWAR SAIN |
|M. No.:099422 |
|Place: New Delhi |