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Hanman Fit Ltd.

BSE: 538731 Sector: Others
NSE: N.A. ISIN Code: INE982Q01017
BSE 00:00 | 20 May 2.56 0
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NSE 05:30 | 01 Jan Hanman Fit Ltd
OPEN 2.56
PREVIOUS CLOSE 2.56
VOLUME 4200
52-Week high 3.31
52-Week low 1.39
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.56
CLOSE 2.56
VOLUME 4200
52-Week high 3.31
52-Week low 1.39
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Hanman Fit Ltd. (HANMANFIT) - Auditors Report

Company auditors report

To the Members of HANMAN FIT LTD

Report on the Financial Statements

We have audited the accompanying financial statements of Hanman Fit Ltd ("theCompany") which comprise of the Balance Sheet as at March 312021. the Statement ofProfit and Loss the Cash Flow Statement for the year then ended and a summary ofsignificant accounting policies and other explanatory information.

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 financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of t ie 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. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding of the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls andensuring their operating effectiveness and the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from mater 4 misstatement whether due to fraud orerror.

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 the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and i e Rules made there under.

We conducted our audit in accordance with the Standards on Auditing specified underSection143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance as to whetherthe 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 e 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 control 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 the purpose of expressing n opinion onwhether the Company has in place an adequate internal financial controls system overfinancial 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 financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at March31 2021 its loss and its cash flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

(1) As required by the Companies (Auditors' Report) Order 2015 ("the Order")issued by the Central Government of India in terms of sub-section (11) of Section 143 ofthe Act we give in the Annexure A a statement on the matters specified inparagraphs 3 and 4 of the Order to the extent applicable.

(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 out- 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 it appears from our examination of those books:

c. The Balance Sheet the Statement of Profit and Loss and the Cash Flow Statementdealt with by this Report are in agreement with the books of account;

d. In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014;

e. On the basis of written representations received from the directors as on 31stMarch 2021 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2021 from being appointed as a director in terms of Section164 (2) of the Act.

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 "B"; and

g. With respect to the other matters to be included in the Auditors Report inaccordance with R ile 1 I of the Companies (Audit and Auditors) Rules 2014. in our and tothe best of opinion our information and according to the explanations given to us/

(i) The Company has no pending litigations on its financial position in its financialstatements

(ii) The Company did not have any long-term contracts including derivative contracts.Hence the question making any provision for any material foreseeable losses does notarise;

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

For Jain Anil & Associates
Chartered Accountants
ICAI Firm Registration No. 0115987W
Anil Jain
Proprietor
Membership No. 039803
Mumbai

ANNEXURE A TO INDEPENDENT AUDITOR'S REPORT

[Referred to in paragraph 1 under ‘Report on Other Legal and RegulatoryRequirements' ii the Independent Auditor's Report of even date to the members of HanmanFit Ltd on the financial statements for the year ended March 31 2021]

(i) (a) The Company has maintained proper records showing full particulars includingquantitative details and situation of fixed assets.

(b) During the year fixed assets have been physically verified by the management as ptthe regular programme of verification which in our opinion is reasonable having regard ithe size of the Company and the nature of its assets. As informed no materialdiscrepancies vere noticed on such verification.

(ii) As per information & explanation given to us physical verification of thestock was conducted by the management during the year at reasonable interval and no marial discrepancies' were found.

(iii) As infonned the Company has not granted any loans secured or unsecured to Complies Firms or other parties covered in the register maintained under Section 189 of theAct. Accordingly the provisions stated in paragraph 3 (iii)(a) and 3 (iii)(b) of theOrder arc not applicable.

(iv) The company has not given any loans or made investments or issued any guaranteeor provided any security covered under section 185 and 186 of the Act hence our commentson the compliance are not given.

(v) In our opinion and according to the information and explanations given to us theCompany has not accepted any deposits from the public within the provisions of Sections 73to 76 of the Act and the rules framed there under.

(vi) The Central Government of India has prescribed the maintenance of cost records ftthe products of the Company under sub-section (1) of Section 148 of the Act and the rulesframed there under. However at present the Company does not fall under the criteria forwhich such records are required to be made and maintained.

(vii) (a) The Company is generally regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund employees" state insuranceincome tax. service tax value added tax cess and any other material statutory duesapplicable to it. Further as explained to us the provisions relating to sales taxcustoms duty wealth tax and excise duty are presently not applicable to the Company.

(viii) According to the records of the Company examined by us and the information andexplanations given to us the Company has not defaulted in repayment of dues to banksduring the year. In respective of home take from a bank equated installment of principalamount of loan and interest is payable only after possession is given. Pre-EMI interest isbeing paid regularly. The company has not taken any loans from Government / financialinstil lion or by way of issue of debentures.

(ix) hi our opinion on an overall basis and according to the information andexplanations given us the term loans were applied for the purpose for which the same wereobtained. The Company has not raised any money by way of initial public offer or furtherpublic offer (including debt instruments) during the year.

(x) To the best of our knowledge and belief and according to the information given tous no fraud by the Company or on the Company-by its officers and employees was noticed orreported during the year.

(xi) According to the records of the Company examined by us and the infonnation andexplan ' ions given to us managerial remuneration has been paid / provided by the Companyin accordance with the requisite approvals mandated by the provisions of section 197 readwith Schedule V to the Companies Act.

(xii) The Company is not a Nidhi Company hence our comments as required under clause3(xii) of the Order are not given.

(xiii) According to the infonnation and explanations given to us all transactions withthe related parties are in compliance with sections 177 and 188 of Companies Act 2013where ever applicable and the details whereof have been stated in the Financial Statementsetc as required by the applicable accounting standards.

(xiv) According to the information and explanations given to us the company has notmad any preferential allotment or private placement of shares or fully or partlyconvertible debentures during the year under review.

(xv) According to the records of the Company examined by us and the information andexplan ions given to us the Company has not entered into any non- cash transactionsreferred to in section 192 of the Act with directors of the Company or persons connectedwith them during the car.

(xvi) According to the information and explanations given to us the Company is notrequired to be registered under section 45-IA of the Reserve Bank of India Act 1934.

For Jain Anil & Associates
Chartered Accountants
ICAI Finn Registration No. 0115987W
Anil Jain
Proprietor
Membership No. 039803
Mumbai

Annexure - B to the Auditors' Report

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 Hanman FitLtd ("the Company") as of 31 March 2021 in conjunction with our audit of thefinancial statements of the Company for the year ended on that date.

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 Charterd Accountants of India (TCAT). 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 Act.

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") a .1 the Standards on Auditing issued by ICAI and deemedto be prescribed under section 143(10) f the Act to the extent applicable to an audit ofinternal financial controls both applicable to n audit of Internal Financial Controlsand both issued by the ICAI. Those Standards and the Guidance Note require that we complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether adequate internal financial controls over financial reporting wasestablished and maintained and if such controls operated effectively in all materialrespects.

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 fra d or error.

We believe that the audit evidence we have obtained is sufticrent and appropriate toprovide a basis for our audit opinion on the Company's - internal financial controlssystem over 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 financial statements for external purposes in accordance with generallyaccepted accoounting: 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 accurate 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 andexpenditure of the Company are being made only in accordance with authorisationsmanagement 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 m. 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 2021 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 ICAI.

For Jain Anil & Associates
Chartered Accountants
ICAI Firm Registration No.0115987W
Anil Jain
Proprietor
Membership No. 039803
Mumbai

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