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Kotia Enterprises Ltd.

BSE: 539599 Sector: Others
NSE: N.A. ISIN Code: INE079C01012
BSE 14:45 | 17 Dec 17.70 0.70
(4.12%)
OPEN

17.75

HIGH

17.75

LOW

17.70

NSE 05:30 | 01 Jan Kotia Enterprises Ltd
OPEN 17.75
PREVIOUS CLOSE 17.00
VOLUME 2200
52-Week high 21.50
52-Week low 14.00
P/E 17.52
Mkt Cap.(Rs cr) 12
Buy Price 0.00
Buy Qty 0.00
Sell Price 17.70
Sell Qty 100.00
OPEN 17.75
CLOSE 17.00
VOLUME 2200
52-Week high 21.50
52-Week low 14.00
P/E 17.52
Mkt Cap.(Rs cr) 12
Buy Price 0.00
Buy Qty 0.00
Sell Price 17.70
Sell Qty 100.00

Kotia Enterprises Ltd. (KOTIAENTERPRISE) - Auditors Report

Company auditors report

To

The Shareholders of

KOTIA ENTERPRISES LIMITED

Report on Financial Statements

We have audited the accompanying financial statements of KOTIAENTERPRISESLIMITED(‘the Company') which comprise the Balance Sheet as at 31st March 2018 theStatement of Profit and Loss(including Other Comprehensive Income) the Cash FlowStatement and the Statement of Changes in Equity 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 the Company in accordance with the accountingprinciples generally accepted in India including theIndian Accounting Standards (Ind-AS)specified under section 133 of the Act.

This responsibility also includes maintenance of adequate accounting records inaccordance with the provisions of the Act for safeguarding of the assets of the Companyand for preventing and detecting frauds and other irregularities; selection andapplication of appropriateaccounting policies; making judgments and estimates that arereasonable and prudent; and designimplementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the accuracy andcompleteness of the accounting records relevant to thepreparation and presentation of thefinancial statements that give a true and fair view and are free frommaterialmisstatement whether due 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 the Indian accounting andauditing standards and matters which are required to be included in the audit report underthe provisions 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 andthe disclosures in the financial statements. The procedures selected depend on theauditor's judgment including the assessment of the risks of material misstatement of thefinancial statements whether due to fraud or error. In making those risk assessments theauditor considers 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 an opinionon whether the Company has in place the adequate internal financial control system overfinancial reporting and the operating effectiveness of such controls.

An audit also includes evaluating the appropriateness of the accounting policies usedand the reasonableness of the accounting estimates made by the Company's Directors aswell as evaluating the overall 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 the explanations given to us thefinancial statementsgive the information required by the Act in the manner so required andgive a true and fair view in conformity with accounting principles generally accepted inIndia: -

i. In case of the Balance Sheet of the state of affairs of the company as at 31stMarch 2018;

ii. In case of Statement of Profit and Loss of the profit and total comprehensiveincome for the year ended on that date; and

iii. In case of Cash Flow Statement of the cash flows for the year ended on that date.

iv. In case of Statement of Changes in Equity of the changes in equity for the yearended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 (the Order) as amendedissued 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 in paragraphs 3and 4 of the said 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 it appears from our examination of those books.

c. The balance sheet the statement of profit and loss the cash flow statement and thestatement of changes in equity dealt with by this report are in agreement with the booksof account.

d. In our opinion the aforesaid financial statements comply with the Indian AccountingStandards specified under section 133 of the act.

e. On the basis of the written representations received from the directors as on31stMarch 2018 taken on record by the board of directors none of the directors isdisqualified as on 31st March 2018 from being appointed as a director in terms of section164 (2) of the act.

f. With respect to adequacy of internal financial controls over financial reporting ofthe Company and the operating effectiveness of such controls refer to our separate reportin Annexure- B.

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) 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 if any of the pending litigations in itsfinancial statements;

ii) Company does not have any long-term contracts including derivative contracts forwhich there are any material foreseeable losses;

iii) The Company is not required to transfer any amount to the Investor Education andProtection Fund.

Signed for the purpose of identification

FOR V.N. PUROHIT & CO.
Chartered Accountants
Firm Regn. No. 304040E
Sd/-
Gaurav Joshi
Partner
Membership No. 516027
New Delhi the 30thday of May 2018

ANNEXURE- A TO THE AUDITOR'S REPORT

The Annexure referred to in Paragraph 1 under the heading of "Report on otherLegal and Regulatory Requirements" of our report of even date to the members of KOTIAENTERPRISES LIMITED (the Company) for the year ended on 31st March 2018.

(i) (a)As per information and explanation given to us the Company is maintainingproper records showing full disclosures of the fixed assets;

(b) As per information and explanation given to us physical verification of fixedassets has been conducted once in a year by the management and no material discrepancieswere noticed during the course of verification;

(c) According to information and explanation given to us the company does not hold anyimmovable property during the period dealt with by this report;

(ii) As per information and explanation given to us physical verification of inventoryhas been conducted once in a year by the management and no material discrepancies werenoticed during the course of verification;

(iii) According to information and explanations given to us the Company has notgranted unsecured loans to parties covered in register maintained under section 189 of theCompanies Act 2013 and hence provisions of this sub- clause are not applicable;

(iv) According to information and explanations given to us the Company has compliedwith the provisions of Section 185 and 186 of the Companies Act 2013 so far asapplicable in respect of providing loans investments guarantees and securities given.

(v) According to information and explanations given to us the Company has not acceptedpublic deposits and the provision of section 73 to 76 or other relevant provisions of theCompanies Act 2013 and rules framed there under are not applicable to the Company;

(vi) According to information and explanations given to us the Company is not liableto maintain cost records as prescribed under section 148(1) of the Companies Act 2013;

(vii) (a) According to information and explanations given to us the company isgenerally regular in depositing undisputed statutory dues including income-tax and anyother applicable statutory dues to the appropriate authorities and there are nooutstanding statutory dues as on the last day of the financial year concerned for a periodof more than six months from the date they became payable;

(b) According to information and explanations given to us there are no outstandingstatutory dues on the part of Company which is not deposited on account of dispute;

(viii) According to information and explanations given to us the company has notobtained any loans and borrowings from any financial institution bank government or duesto debenture holders and hence question of default of repayment does not arise;

(ix) According to information and explanations given to us the Company has not raisedmoney by

way of initial public offer or further public offer. The Company has not taken any termloans and hence question of its utilization does not arise;

(x) According to information and explanations given to us there is no noticed orunreported fraud on or by the Company during the year under audit;

(xi) According to information and explanations given to us company has paid managerialremuneration in accordance with applicable provisions of companies act 2013.

(xii) As per information the Company is not a Nidhi Company hence provisions of sub-clause (xii) of the Paragraph 3 of the Order are not applicable;

(xiii) According to information and explanations given to us all transactions with therelated parties are in compliance with sections 177 and 188 of Companies Act 2013wherever applicable and the details have been disclosed in the financial statements etc.as required by the applicable Indian accounting standards;

(xiv) According to information and explanations given to us the Company has not madeany preferential allotment or private placement of shares or fully or partly convertibledebentures during the year under review;

(xv) According to information and explanations given to us the Company has not enteredinto noncash transactions with directors or persons connected with him;

(xvi) According to information and explanations given to us the Company isnot a Non-Banking Financial Companyand is not requiredto be registered under Section 45-IA of theReserve Bank of India Act 1934.

Signed for the purpose of identification

FOR V.N. PUROHIT & CO.
Chartered Accountants
Firm Regn. No. 304040E
Sd/-
Gaurav Joshi
Partner
Membership No. 516027
New Delhi the 30thday of May 2018

ANNEXURE- B TO THE AUDITOR'S REPORT

Report on the Internal Financial Controls under Clause (i) of Sub- section (3) ofSection 143 of the Companies Act 2013

We have audited the internal financial controls over financial reporting of KotiaEnterprises Limited (the Company) as on 31st March 2018 in conjunction with our audit ofthe financial statements of the Company for the year ended on that date.

Management's Responsibility for the 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 controlsstated in the Guidance Note on Audit of Internal Financial Control over FinancialReporting issued by the Institute of Chartered Accountants of India (ICAI). 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 fraud and errors the accuracy andcompleteness of accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditor's 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 deemed to beprescribed under Section 143(10) of the Companies Act 2013 to the extent applicable to anaudit of internal financial controls both applicable to an audit of Internal FinancialControls and both issued by the ICAI. Those Standards and the Guidance Note require thatwe comply with ethical requirements and plan and perform the audit to obtain reasonableassurance about whether adequate internal financial controls over financial reporting wasestablished and maintained and if such controls operated effectively in all materialaspects.

Our audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial control 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 risks of materialmisstatement of the financial statements whether due to fraud or error.

We believe that the audit evidences 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 of records that in reasonable detail accurately andfairly reflect the transactions and dispositions of the assets of the Company;

(2) Provide reasonable assurance that transactions are recorded as necessary to permitpreparation of financial statements in accordance with generally accepted accountingprinciples and the receipt and expenditures of the Company are being only in accordancewith authorizations of management and directors of the Company; and

(3) Provide reasonable assurance regarding prevention or timely detection ofunauthorised acquisition use or disposition of the Company's assets that could have amaterial 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 could not bedetected. Also projections of any evaluation of the internal financial control overfinancial reporting to future periods are subject to the risk that the internal financialcontrols over financial reporting may became 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 aspects an adequate internalfinancial controls system over financial reporting and such internal financial controlsover financial reporting were operating effectively as at 31st March 2018 based on"the internal financial controls over financial reporting criteria considering theessential components of internal control stated in the Guidance Note on Audit of InternalFinancial Controls over Financial Reporting issued by the Institute of CharteredAccountants of India".

FOR V.N. PUROHIT & CO.
Chartered Accountants
Firm Regn. No. 304040E
Sd/-
Gaurav Joshi
Partner
Membership No. 516027
New Delhi the 30thday of May 2018