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Suncare Traders Ltd.

BSE: 539526 Sector: Others
NSE: N.A. ISIN Code: INE452S01017
BSE 00:00 | 06 Feb Suncare Traders Ltd
NSE 05:30 | 01 Jan Suncare Traders Ltd
OPEN 12.00
PREVIOUS CLOSE 12.00
VOLUME 12000
52-Week high 32.25
52-Week low 11.00
P/E 63.16
Mkt Cap.(Rs cr) 13
Buy Price 10.50
Buy Qty 4000.00
Sell Price 11.20
Sell Qty 4000.00
OPEN 12.00
CLOSE 12.00
VOLUME 12000
52-Week high 32.25
52-Week low 11.00
P/E 63.16
Mkt Cap.(Rs cr) 13
Buy Price 10.50
Buy Qty 4000.00
Sell Price 11.20
Sell Qty 4000.00

Suncare Traders Ltd. (SUNCARETRADERS) - Auditors Report

Company auditors report

AUDIT REPORT TO MEMBERS TO THE SHARE HOLDERS OF

SUNCARE TRADERS LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements of SUNCARE TRADERSLIMITED which comprise the Balance Sheet as at 31st March 2018and the Statement of Profit and Loss and Cash Flow Statement for the year then ended anda summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the matters stated in section 134(5) of the CompaniesAct 2013("the Act") with respect to the preparation of these financialstatements that give a true and fair view of the financial position financial performanceand cash flows of the Company in accordance with the accounting principles generallyaccepted in India including accounting standards referred to in section 133 of the Act asapplicable. This responsibility also includes maintenance of adequate accounting recordsin accordance 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 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 financial statements that give a true and fair view and are free from materialmisstatement whether due to fraud or error.

Auditor's Responsibility

- Our responsibility is to express an opinion on these Standalone financialstatements based on our audit.

- We have taken into account the provisions of the Act and the Rules made thereunder including the accounting standards and matters which are required to be included inthe audit report under the provision of the Act and the Rules made thereunder and theOrder issued under section 143(11) of the Act.

- We conducted our audit in accordance with the Standards on Auditing specifiedunder Section 143(10) of the Act and other applicable authoritative pronouncements issuedby the Institute of Chartered Accountants of India. Those standards require that we complywith ethical requirements and plan and perform the audit to obtain reasonable assuranceabout whether the financial statements are free from material misstatement.

- An audit involves performing procedures to obtain audit evidence about theamounts and disclosures in the financial statements.

- The procedures selected depend on the auditor's judgment including theassessment of the risks of material misstatement of the financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalcontrol relevant to the Company's preparation and fair presentation of the financialstatements in order to design audit procedures that are appropriate in the circumstancesbut not for the purpose of expressing an opinion on whether the company has place anadequate internal financial controls system over financial reporting and the operatingeffectiveness of such controls.

- An audit also includes evaluating the appropriateness of accounting policiesused and the reasonableness of the accounting estimates made by management as well asevaluating the overall presentation of the financial statements.

- We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion.

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: (i) In the case of the Balance Sheet of the stateof affairs of the Company as at March 312018;

(ii) In the case of the Statement of Profit and Loss of the Loss for the year ended onthat date;

(iii) Cash Flow Statement for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("theOrder") issued by the Central Government of India in terms of section 143(11) of theAct we give in "Annexure A" a statement on the matter specified in theparagraph 3 and 4 of the Order.

2. As required under provisions of section 143(3) of the Companies Act 2013 wereport that: a. We have obtained all the information and explanations which to thebest of our knowledge and belief where necessary for the purposes of our audit; b. In ouropinion proper books of account as required by law have been kept by the Company so faras appears from our examination of those books;

c. The Balance Sheet and Statement of Profit and Loss dealt with this report are inagreement with the books of account;

d. In our opinion the Balance Sheet and Statement of Profit and Loss comply with theaccounting standards referred to in section 133 of the Act read with relevant rule issuedthere under.

e. On the basis of written representations received from the directors as on March 312018 taken on record by the Board of Directors none of the directors is disqualified ason March 31 2018 from being appointed as a director in terms of section 164(2) of theAct.

f. With respect to the adequacy of the internal financial controls over financialreporting of the company and operating effectiveness of such controls referred to ourseparate report in "Annexure B".

g. With respect to other matters to be included in the Auditor's Report in accordancewith Rule 11 of the Companies (Audit and Auditor) Rules 2014 in our opinion and to thebest of our knowledge and belief and according to the information and explanations givento us:

(a) The Company does not have any pending litigation as at March 31 2018 on itsfinancial position in its financial statements.

(b) The Company did not have any long-term and derivative contracts as at March 312018.

(c) There has been no delay in transferring amounts required to be transferred theInvestor Education and Protection Fund by the Company during the year ended March 312018.

FOR DOSHI MARU & ASSOCIATES
Chartered Accountants
Sarvesh A. Gohil
Place: Jamnagar Partner
Date : 30th May 2018 M. No. 135782
FRN: 0112187W

ANNEXURE "A" TO THE AUDITORS' REPORT

In terms of the information and explanations given to us and the books and recordsexamined by us in the normal course of audit and to the best of our knowledge and beliefwe state as under:

(i) In respect of Its Fixed Assets:

a. The company has maintained proper records showing full particulars includingquantitative details and situation of its fixed assets.

b. These fixed assets were physically verified by the management during the year. Wehave been informed that no material discrepancies were noticed on such physicalverification.

c. According to the information and explanation given to us and in the basis of ourexamination of the records of the company the title deeds of immovable properties are inthe name of the company.

(ii) The stock of inventory has been physically verified during the year by theManagement at reasonable intervalsThe discrepancies noticed on physical verification ofstocks as compared to book records were not material; however the same have been properlydealt with the books of account.

(iii) The company has not granted any loans secured or unsecured to companies firmsLimited Liability Partnerships or other parties covered in the register maintained undersection 189 of the Companies Act 2013. Therefore the provisions of Clause 3 (iii)(a)(iii)(b) and (iii)(c) of the said order are not applicable to the company.

(iv) In our opinion and according to the information and explanation given to us theCompany has in respect of loans investment guarantees and security provisions compliedwith Section -185 and 186 of the Companies Act2013 .

(v) The company has not accepted any deposits from the public within the meaning ofsections 73 to 76 or any relevant provisions of the 2013 act and the rules framed thereunder to the extent notified.

(vi) The Central government has not prescribed the maintenance of cost records by thecompany under section 148(1) of the companies Act 2013 for any of its products.

(vii) In respect of Statutory Dues:

a. The company is regular in depositing with appropriate authorities undisputedstatutory dues including

Provident Fund Employees' State Insurance Income Tax Sales Tax Service Tax Duty ofCustoms Duty of Excise Value Added Tax Cess and any other statutory dues applicable toit. According to the information and explanations given to us no undisputed amountspayable in respect of income tax sales tax customs duty excise duty and cess were inarrears as at 31.03.18 for a period of more than six months from the date they becamepayable.

b. According to the information and explanations given to us there are no dues ofsales tax income tax custom duty wealth tax excise duty and cess which have not beendeposited on account of any dispute.

(viii) Based on our audit procedures and according to the information and explanationsgiven to us we are of the opinion that the Company has not defaulted in repayment ofloans or borrowing to financial institutions banks or Government. The company has notissued any debentures as at the balance sheet date.

(ix) The company has not raised moneys by way of initial public offer or further publicoffer (including debt instruments). The Moneys raised by way of term loan were applied forthe purpose for which those are raised.

(x) During the course of our examination of the books and records of the companycarried out in accordance with the generally accepted auditing practices in India andaccording to the information and explanations given to us we have neither come across anyinstance of fraud by the company or any fraud on the Company by its officers or employeesnoticed or reported during the year nor have we been informed of such cases by theManagement.

(xi) According to the information and explanations given to us we report thatmanagerial remuneration has been paid or provided in accordance with the requisiteapprovals mandated by the provisions of section 197 read with Schedule V to the CompaniesAct.

(xii) In our opinion and according to the information and explanations given to us theCompany is not a nidhi company. Accordingly paragraph 3(xii) of the Order is notapplicable.

(xiii) According to the information and explanations given to us and based on ourexamination of the records of the company transactions with the related parties are incompliance with sections 177 and 188 of Companies Act 2013 where applicable and thedetails have been disclosed in the financial statements etc. as required by theapplicable accounting standards;

(xiv) According to the information and explanations given to us and based on ourexamination of the records of the company the company has made not any private placementof the year under review.

(xv) According to the information and explanations given to us and based on ourexamination of the records of the company the company has not entered into any non-cashtransactions with directors or persons connected with him. Accordingly paragraph 3(xv) ofthe Order is not applicable.

(xvi) The company is not required to be registered under section 45-IA of the ReserveBank of India Act 1934.

FOR DOSHI MARU & ASSOCIATES
Chartered Accountants
Sarvesh A. Gohil
Place: Jamnagar Partner
Date : 30th May 2018 M. No. 135782
FRN: 0112187W

ANNEXURE "B" TO AUDITOR'S 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 SUNCARETRADERS LIMITED ('the Company') as of 31st March 2018 in conjunction withour audit of the financial 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 Reporting (the'Guidance Note') issued by the Institute of Chartered Accountants of India (the 'ICAI').These responsibilities include the design implementation and maintenance of adequateinternal financial controls that were operating effectively for ensuring the orderly andefficient conduct of its business including adherence to company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information as required under the Companies Act 2013.

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 and the Standards on Auditing issued by the ICAI and deemed to beprescribed under section 143(10) of the Companies Act 2013 to the extent applicable toan audit 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 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 fraud or error.

We believe that the audit evidence 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 that receipts and expenditures of the company are being made only inaccordance with authorizations of management and directors of the company; and

3) provide reasonable assurance regarding prevention or timely detection ofunauthorized 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 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 may deteriorate.

Opinion

According to the information and explanations given to us and based on our audit thefollowing material weakness has been identified in the operating effectiveness of theCompany's internal financial controls over financial reporting as at March 31 2018.

A material weakness is deficiency in internal financial control over financialreporting such that there is a no control over entry level documentation validation andstandard operating system in operation and code of business control of the company hencethere is reasonable possibility that a material misstatement of the company's annual orinterim financial statements will not be prevented or detected on a timely basis.

We have considered the material weakness identified and reported above in determiningthe nature timing and extent of audit tests applied in our audit of the March 31 2018financial statements of the Company and the material weakness do not affect our opinionon the standalone financial statements of the Company.

In our opinion the Company has except stated above an adequate internal financialcontrols system over financial reporting and such internal financial controls overfinancial reporting were operating effectively as at 31st March 2018 based on the internalcontrol over financial reporting criteria established by the Company considering theessential components of internal control stated in the Guidance Note issued by the ICAI.

FOR DOSHI MARU & ASSOCIATES
Chartered Accountants
Sarvesh A. Gohil
Place: Jamnagar Partner
Date : 30th May 2018 M. No. 135782
FRN: 0112187W