REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying Financial Statements of M/S S.K.S TEXTILE PRIVATELIMITED which comprise the Balance Sheet as at 31st March 2017 the statementof Profit and Loss Account for the year then ended Cash Flow Statement and a summary ofsignificant accounting policies and other explanatory information.
MANAGEMENT'S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
The Company's Management is responsible for the preparation of these financialstatements that give a true and fair view of the financial position financial performanceof the Company in accordance with the Accounting Standards notified under the CompaniesAct 1956 (the Act) read with the General Circular 15/2013 dated 13th September 2013 ofthe Ministry of Corporate Affairs in respect of Section 133 of the Companies Act 2013 andin accordance with the accounting principles generally accepted in India. Thisresponsibility includes the design implementation and maintenance of internal controlrelevant to the preparation and presentation of the financial statements that give a trueand fair view and are free from material misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these financial statements based onour audit.
. We conducted our audit in accordance with the Standards on Auditing issued by theInstitute of Chartered Accountants of India. Those Standards require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether the 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 financialstatements whether due to fraud or.error. In making those risk assessments the auditorconsiders internal control relevant to the Company's preparation and fair presentation ofthe financial statements in order to design audit procedures that are appropriate in thecircumstances but riot for the purpose of expressing an opinion on the effectiveness ofthe Company's internal control. An audit also includes evaluating the appropriateness ofaccounting policies used and the reasonableness of the accounting estimates made bymanagement as well as evaluating the overall presentation of the financial statements. Webelieve that the audit evidence we have obtained is sufficient and appropriate to providea . basis for our audit opinion.
In our opinion and to the best of our information and according to explanations givento us the aforesaid financial statements give the information required by the CompaniesAct 2013
- in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:
- In the case of Balance Sheet of the state of affairs of the company as at 31st March 2017:
- In the case of the Profit & Loss Account of the Profit for the year ended on that date.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
- As required by the Companies (Auditor's Report) Order 2015 ("the order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act 2013 we give in the Annexure a statement on the matters specified in Paragraphs 3 and 4 of the said Order to the extent applicable.
- As required by Section 143(3) of the Act we report that:
- we have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit;
- in our opinion proper books of account as required by law have been kept by the Company so far as appears from our examination of those books.
- the Balance Sheet and the Statement of Profit and Loss dealt with by this Report are in agreement with the books of account.
- In our opinion the Balance Sheet and the Statement of Profit and Loss comply with Accounting Standards notified under the Act read with the General Circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act 2013.
- On the basis of the written representations received from the directors as on March 31
- 2017 taken on record by the Board of Directors none of the directors is disqualified as'on March 312017 from being appointed as a director in terms of Section 164(2) of the Act.
- With respect of the adequacy of the internal financial controls over financial reporting of the company and the operating effectiveness of such control we give our separate report in " Annexure 2".
- With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinion and to the best of our information and according to the explanations given to us:
- The Company doesnot have any pending litigations which could impact its financial statement. .
- The Company does not have.any foreseeable losses on long-term contracts including derivative contracts;
- There has been no delay in transferring amounts required to be transferred to the Investor Education and Protection Fund by the Company.
For Bhatter & Company Chartered Accountants (FRN: 131092 W)
|(Mr. Daulal Bhatter) |
|M. NO. 016937 |
|Dated: 01/08/2017 |