The members of KARDA CONSTRUCTIONS LIMITED Report on the Financial Statements
We have audited the accompanying financial statements of KARDA constructions LTD("the Company") Which comprise the Balance Sheet as at 31st March 2017 theStatement of Profit and Loss and the Cash Flow Statement for the year then ended and asummary of significant accounting polices and other explanatory information.
Management's Responsibility for the Financial Statements
The Company's board of directors is responsible for the matters stated in sec 134(5) ofthe companies Act2013 with respect to the preparation of these financial statements thatgive a true and fair view of the financial position financial performance and cash flowsof the Company in accordance with the Accounting Principles generally accepted in Indiaincluding the accounting Standards Specified under Section 133 of the Companies Act 2013read with rule 7 of the Companies(Accounts) rules 2014 This responsibility also includesMaintenance of the adequate accounting records in accordance with the provisions of theAct for safeguarding the assets of the Company and for preventing and detecting frauds andother irregularities; selection and application of appropriates accounting policies;making judgment and estimates that are reasonable and prudent; and design implementationand maintenance of adequate internal financial controls that were operating effectivelyfor ensuring the accuracy and completeness of accounting records relevant to thepreparation and presentation of the financial reporting framework that give a true andfair view and are free from material misstatement
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 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 financial statements are free from material misstatement
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statement. The procedures selected depend on the auditor'sjudgment induding 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 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 not for the purpose of expressing anopinion on whether the Company has in place an adequate internal financial controls systemover financtal reporting and the operating effectiveness of such controls. An audit alsoindudes 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.
In our opinion and to the best of our information and according to the explanationsgiven to us the financial statements give the information required by the Act in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India:
(a) in the case of the Balance Sheet of the State of Affairs of the Company as at 31March 2017 and
(b) in the case of the Statement of Profit and Loss and Cash Flow for the year endedon that date;
Report on Other Legal and Regulatory Requirements
1 As required by the Companies (Auditor's Report) Order 2016 (the Order") issuedby the Central Government of India in terms of Section 143(11) of the Act we give in theAnnexure 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 ai! 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 Company does not have any branch office and accordingly Section 143 (8) of theAct does not apply.
d. The Balance Sheet and Statement of Profit and Loss dealt with by this Report are inagreement with the books of account.
e. In our opinion the Balance Sheet Statement of Profit and Loss and Cash Bowstatement comply with the Accounting Standards specified under Section 133 of the Actread with Rule 7 of the Companies (Accounts) Rules 2014 and companies (AccountingStandard)Amendment Rules 2016.
f. In our opinion no financial transactions or matters have any adverse effect on thefunctioning of the Company.
g. In our opinion no qualification reservation or adverse remark relating to themaintenance of accounts and other matters connected therewith;
h. In our opinion the company has the adequacy of the internal financial controls overfinancial reporting and the proper operating effectiveness of such controls.
i. on the basis of the written representations received from the directors as on 31March 2017 and 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 and
i. with respect to the others matters to be inducted 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:
The company has disclosed the impact of pending litigations on its financial positionin its financial statement The company did not have any long term contracts includingderivative contracts for which there were any material foreseeable Losses.
3) There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.
The Company has provided requisite disclosure in its financial statements as to holdingas well as dealings in Specified Bank Notes during the period from 8th November2016 to30th December2016 and these are in accordance with the books of accounts maintained bythe Company
|NATESH AND ASSOCIATES |
|CHARTERED ACCOUNTANTS |
|t CAR.NATESH |
|M. NO. 036481 |
|Date : 4th August |