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Vantage Knowledge Academy Ltd.

BSE: 539761 Sector: Others
NSE: N.A. ISIN Code: INE427T01017
BSE 00:00 | 15 Nov Vantage Knowledge Academy Ltd
NSE 05:30 | 01 Jan Vantage Knowledge Academy Ltd
OPEN 8.48
PREVIOUS CLOSE 8.48
VOLUME 51
52-Week high 9.48
52-Week low 5.92
P/E 40.38
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.48
CLOSE 8.48
VOLUME 51
52-Week high 9.48
52-Week low 5.92
P/E 40.38
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Vantage Knowledge Academy Ltd. (VANTAGEKNOWLEDG) - Auditors Report

Company auditors report

J M C & ASSOCIATES G-75 B-WING
CHARTERED ACCOUNTANTS DIAMOND WORLD
MINI BAZAR
VARACHA ROAD
SURAT
GUJARAT-395006
e mail:
jmcandassociate@gmail.com

To the Members of Vantage Knowledge Academy Limited

Report on the Audit of the Ind AS Financial Statements Opinion

I have audited the accompanying Ind AS financial statements of Vantage KnowledgeAcademy Limited ("the Company") which comprise the Balance Sheet as at March31 2019 the Statement of Profit and Loss (including Other Comprehensive Income) theStatement of Changes in Equity the Cash Flow Statement for the year then ended and notesto the Ind AS financial statements including a summary of significant accounting policiesand other explanatory information.

in my opinion and to the best of my information and according to the explanations givento me the aforesaid Ind AS financial statements give the information required by theCompanies Act 2013 ("the Act") in the manner so required and give a true andfair view in conformity with the Indian Accounting Standards prescribed under Section 133of the Act read with the Companies (Indian Accounting Standards) Rules 2015 as amendedand other accounting principles generally accepted in India of the state of affairs ofthe Company as at March 31 2019 and Profit and total comprehensive income changes inequity and its cash flows for the year ended on that date.

Basis for Opinion

I conducted my audit in accordance with the Standards on Auditing (SAs) specified underSection 143(10) of the Companies Act 2013. My responsibilities under those Standards arefurther described in the Auditor's Responsibilities for the Audit of the Ind AS FinancialStatements section of my report. I am independent of the Company in accordance with theCode of ethics issued by the Institute of Chartered accountants of India together with theethical requirements that are relevant to my audit of the Ind AS financial statementsunder the provisions of the Companies Act 2013 and the Rules thereunder and I havefulfilled my other ethical responsibilities in accordance with these requirements. Ibelieve that the audit evidence I have obtained is sufficient and appropriate to provide abasis for my opinion on the Ind AS financial statements.

Key Audit Matters

Key audit matters are those matters that in my professional judgment were of mostsignificance in my audit of the Ind AS financial statements of the current period. Thesematters were addressed in the context of my audit of the Ind AS financial statements as awhole and in forming my opinion thereon and I do not provide a separate opinion on thesematters. There is no key audit matter to be communicated in my report.

Information Other than the Financial Statements and Auditor's Report Thereon

The Company's Board of Directors is responsible for the preparation of the otherinformation. The other information comprises the information included in the ManagementDiscussion and Analysis Board's Report including Annexure to Board's Report and BusinessResponsibility Report but does not include the financial statements and my auditor'sreport thereon.

My opinion on the financial statements does not cover the other information and I donot express any form of assurance conclusion thereon.

In connection with my audit of the financial statements our responsibility is to readthe other information and in doing so consider whether the other information ismaterially inconsistent with the financial statements or our knowledge obtained during thecourse of our audit or otherwise appears to be materially misstated.

If based on the work I have performed I conclude that there is a materialmisstatement of this other information; I am required to report that fact. I have nothingto report in this regard.

Management's Responsibility for the Ind AS 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 preparationand presentation of these Ind AS financial statements that give a true and fair view ofthe financial position financial performance total comprehensive income changes inequity and cash flows of the Company in accordance with the Indian Accounting Standardsprescribed under Section 133 of the Act read with the Companies (Indian AccountingStandards) Rules 2015 as amended and other accounting principles generally accepted inIndia. 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 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 Ind AS financial statements that give a true and fair view and are free from materialmisstatements whether due to fraud or error.

In preparing the Ind AS financial statements management is responsible for assessingthe Company's ability to continue as a going concern disclosing as applicable mattersrelated to going concern and using the going concern basis of accounting unless managementeither intends to liquidate the Company or to cease operations or has no realisticalternative but to do so.

The Board of directors are also responsible for overseeing the Company's financialreporting process.

Auditor's Responsibilities for the Audit of the Ind AS Financial Statements

My objective is to obtain reasonable assurance about whether the Ind AS financialstatements as a whole are free from material misstatements whether due to fraud orerror and to issue an auditor's report that includes my opinion. Reasonable assurance isa high level of assurance but it is not a guarantee that an audit conducted in accordancewith SAs will always detect a material misstatement when it exists. Misstatements canarise from fraud or error and are considered material if individually or in theaggregate they could reasonably be expected to influence the economic decisions of userstaken on the basis of these Ind AS financial statements.

As part of an audit in accordance with SAs I exercised professional judgment andmaintain professional skepticism throughout the audit. I also:

• Identify and assess the risks of material misstatement of the financialstatements whether due to fraud or error design and perform audit procedures responsiveto those risks and obtain audit evidence that is sufficient and appropriate to provide abasis for our opinion. The risk of not detecting a material misstatement resulting fromfraud is higher than for one resulting from error as fraud may involve collusionforgery intentional omissions misrepresentations or the override of internal control.

• Obtain an understanding of internal financial controls relevant to the audit inorder to design audit procedures that are appropriate in the circumstances. Under section143(3)(i) of the Act we are also responsible for expressing our opinion on whether theCompany has adequate internal financial controls system in place and the operatingeffectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonablenessof accounting estimates and related disclosures made by management.

• Conclude on the appropriateness of management's use of the going concern basisof accounting and based on the audit evidence obtained whether a material uncertaintyexists related to events or conditions that may cast significant doubt on the Company'sability to continue as a going concern. If I conclude that a material uncertainty existsI am required to draw attention in my auditor's report to the related disclosures in thefinancial statements or if such disclosures are inadequate to modify my opinion. Myconclusions are based on the audit evidence obtained up to the date of my auditor'sreport. However future events or conditions may cause the Company to cease to continue asa going concern.

• Evaluate the overall presentation structure and content of the financialstatements including the disclosures and whether the financial statements represent theunderlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the financial statements thatindividually or in aggregate makes it probable that the economic decisions of areasonably knowledgeable user of the financial statements may be influenced. I considerquantitative materiality and qualitative factors in (i) planning the scope of my auditwork and in evaluating the results of my work; and (ii) to evaluate the effect of anyidentified misstatements in the financial statements.

I communicate with those charged with governance regarding among other matters theplanned scope and timing of the audit and significant audit findings including anysignificant deficiencies in internal control that I identify during my audit.

I also provide those charged with governance with a statement that I have complied withrelevant ethical requirements regarding independence and to communicate with them allrelationships and other matters that may reasonably be thought to bear on my independenceand where applicable related safeguards.

From the matters communicated with those charged with governance I determine thosematters that were of most significance in the audit of the financial statements of thecurrent period and are therefore the key audit matters. I describe these matters in myauditor's report unless law or regulation precludes public disclosure about the matter orwhen in extremely rare circumstances I determine that a matter should not becommunicated in my report because the adverse consequences of doing so would reasonably beexpected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor's Report) Order 2016 ("the Order")issued by the Central Government of India in terms of sub-section(ll) of section 143 ofthe Act I give in the Annexure "1" a statement on the matters specified inparagraphs 3 and 4 of the said Order to the extent as applicable.

2. As required by section 143(3) of the Act I report that:

a. I have sought and obtained all the information and explanations which to the best ofmy knowledge and belief were necessary for the purposes of my audit;

b. In my opinion proper books of account as required by law have been kept by theCompany so far as it appears from my examination of those books;

c. The Balance Sheet the Statement of Profit and Loss including Other ComprehensiveIncome Statement of Changes in Equity and the Cash Flow Statement dealt with by thisReport are in agreement with the books of account;

d. In my opinion the aforesaid Ind AS financial statements comply with the IndianAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Indian Accounting Standards) Rules 2015;

e. On the basis of the written representations received from the directors as at March31 2019 and taken on record by the Board of Directors except Mr. Rajesh Dedhia none ofthe directors is disqualified as at March 31 2019 from being appointed as director interms section 164(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 myseparate Report in "Annexure "2"; and

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 my opinionand to the best of my information and according to the explanations given to me:

i. The Company has no pending litigations on its financial position in its Ind ASFinancial Statements;

ii. The Company did not have any long-term contracts including derivative contracts;

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

For J M C & Associates

Chartered Accountants

Firm Registration No. 133076W

Sd/-

Jatin M. Sachapara

Proprietor

Membership No. 141958

Place: Mumbai

Date: 15th May 2019

Annexure - 1 to the Auditors' Report

The Annexure referred to in Independent Auditors' Report to the members of the Companyon the financial statements for the year ended 31 March 2019 I report that:

(i) a) The Company has maintained proper records showing full particulars includingquantitative

details and situation of fixed assets.

b) These fixed assets have been physically verified by the management at regularinterval considering the size of the Company and nature of assets. No materialdiscrepancies have been noticed on such verification.

c) According to the information and explanations given to me and on the basis of myexamination of the records of the Company the company did not own any immovable propertyand hence the question of title deeds of immovable properties in the name of the Companydo not arise.

(ii) According to the nature of business of the company there is no Inventory of theCompany and hence clause 2 of the order is not applicable.

(iii) The Company has not granted loans to the companies firms Limited LiabilityPartnerships or other parties covered in the register maintained under section 189 of theCompanies Act 2013 ('the Act').

(iv) According to the information and explanations given to me and on the basis ofexamination of the records the Company does not have any investment nor has given anyguarantee to which the provisions of section 185 and 186 of the Act is applicable.

(v) In my opinion and according to the information and explanations given to me theCompany during the year has not accepted the deposits from the public.

(vi) To the best of my knowledge and as explained the Central Government has notprescribed the maintenance of cost records u/s 148(1) of the Act.

(vii) a) According to the information and explanations given to me and on the basis ofmy

examination of the records of the Company amounts deducted / accrued in the books ofaccount in respect of undisputed statutory dues including Income tax and other materialstatutory dues have generally been regularly deposited during the year by the Company withthe appropriate authorities. According to the information and explanations given to me noundisputed amounts payable in respect of such statutory dues were in arrears as at 31stMarch 2019 for a period of more than six months from the date they became payable.

b) According to information and explanation given to me there are no disputed dueswith statutory authorities.

(viii) The Company does not have any loans or borrowings from any financialinstitution banks government or debenture holders during the year.

(ix) The Company did not raise any money by way of initial public offer or furtherpublic offer (including debt instruments) and term loans during the year.

(x) According to the information and explanations given to me no material fraud by theCompany or on the Company by its officers or employees has been noticed or reported duringthe course of my audit for the year.

(xi) According to the information and explanations give to me and based on myexamination of the records of the Company the Company has paid/provided for managerialremuneration in accordance with the requisite approvals mandated by the provisions ofsection 197 read with Schedule V to the Act.

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

(xiii) According to the information and explanations given to me and based on myexamination of the records of the Company transactions with the related parties are incompliance with sections 177 and 188 of the Act where applicable and details of suchtransactions have been disclosed in the financial statements as required by the applicableaccounting standards.

(xiv) According to the information and explanations give to me and based on myexamination of the records of the Company the Company has not made any preferentialallotment or private placement of shares or fully or partly convertible debentures duringthe year.

(xv) According to the information and explanations given to me and based on myexamination of the records of the Company the Company has not entered into 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.

As per my report of even date

For J M C & ASSOCIATES

Chartered Accountants

FRN. 133076W

Sd/-

J. M. Sachapara

Proprietor

M. No.141958

Place: Mumbai

Dated: 15th May 2019

Annexure - ii 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")

I have audited the internal financial controls over financial reporting of VantageKnowledge Academy Limited ("the Company") as of 31st March 2019 in conjunctionwith my audit of the Ind AS financial statements of the Company for the year ended on thatdate.

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 Chartered Accountants of India ('ICAI'). 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 Companies Act 2013.

Auditors' Responsibility

My responsibility is to express an opinion on the Company's internal financial controlsover financial reporting based on my audit. I conducted my audit in accordance with theGuidance 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 toan audit of internal financial controls both applicable to an audit of Internal FinancialControls and both issued by the Institute of Chartered Accountants of India. ThoseStandards and the Guidance Note require that I comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether adequate internalfinancial controls over financial reporting was established and maintained and if suchcontrols operated effectively in all material respects.

My audit involves performing procedures to obtain audit evidence about the adequacy ofthe internal financial controls system over financial reporting and their operatingeffectiveness. My 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.

I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my 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 ofrecords that in reasonable detail accurately 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 andexpenditures of the company are being made only in accordance with authorizations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorized 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 may deteriorate.

Opinion

In my 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 31st March 2019 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 Institute of CharteredAccountants of India.

For J M C & ASSOCIATES

Chartered Accountants

FRN. 133076W

Sd/-

J. M. Sachapara

Proprietor

M. No.141958

Place: Mumbai

Dated: 15th May 2019

.