You are here » Home » Companies » Company Overview » Venus Universal Ltd

Venus Universal Ltd.

BSE: 530769 Sector: Others
NSE: N.A. ISIN Code: INE381C01020
BSE 00:00 | 03 Mar Venus Universal Ltd
NSE 05:30 | 01 Jan Venus Universal Ltd
OPEN 0.30
PREVIOUS CLOSE 0.28
VOLUME 4000
52-Week high 0.30
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 0.30
CLOSE 0.28
VOLUME 4000
52-Week high 0.30
52-Week low 0.00
P/E
Mkt Cap.(Rs cr) 1
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Venus Universal Ltd. (VENUSUNIVERSAL) - Auditors Report

Company auditors report

TO

THE MEMBERS OF

VENUS UNIVERSAL LTD.

We have audited the attached Balance Sheet of VENUS UNIVERSAL LTD as at 31stMarch 2014 the Profit and Loss account and Cash Flow Statement of the Company for theyear ended on that date annexed thereto. These financial statements are the responsibilityof the Company’s management. Our responsibility is to express an opinion on thesefinancial statements based on our audit. ^

We conducted our audit in accordance with auditing standards generally accepted inIndia. Those Standards require that we plan and perform the audit to obtain reasonable . (assurance about whether the financial statements are free of material misstatement. Anaudit includes examining on the test basis evidence supporting the amounts anddisclosures in the financial statements. An audit also includes assessing the accountingprinciples used and significant estimates made by management as well as evaluating theoverall financial statement presentation. We believe that our audit provides a reasonablebasis for our opinion.

1. As required by the Companies (Auditor’s Report) Order 2003 issued by theCentral Government of India in terms of sub-section (4A) of section 227 of the CompaniesAct 1956 and on the basis of the books and records of the company as we consideredappropriate and according to the information and explanation given to us we enclose inthe Annexure a statement on the matters specified in para 4 and 5 of the said Order.

2. Further we report that:

a) We have obtained all the information and explanations which to the best of ourknowledge 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 appears from our examination of those books;

c) The Balance Sheet Profit and Loss Account and Cash Flow Statement dealt with bythis report are in agreement with the books of account.

d) In our opinion the Balance Sheet Profit and Loss Account and Cash Flow Statementdealt with by this report comply with the accounting standards referred to in sub-section(3C) of section 211 of the Companies Act 1956 to the extent applicable to the Company.

e) On the basis of written representations received from the directors and taken onrecord by the Board of Directors we report that none of the directors are disqualified ason 31st March 2014 from being appointed as a director in terms of clause (g) of subsection (1) of section 274 of the Companies Act 1956.

f) In our opinion and to the best of our information and according to the explanationsgiven to us the said accounts give the information required by the Companies Act 1956 inthe manner so required and give a true and fair view and are in conformity with theaccounting principles generally accepted in India.

a. In the case of the Balance Sheet of the state of affairs of the Company as at31stMarch 2014.

b. In case of ‘PROFIT’ of Profit and Loss account of the company for the yearended on 31st March 2014.

c. In the case of the Cash Flow Statement of the Cash flows for the year ended on thatdate.

For Ashok S. Lohade
Chartered Accountants
Sd/-
Place : Nasik Ashok S. Lohade
Date : 26th Aug. 2013. (Proprietor)

Annexure Forming Part of Auditors’ Report

Annexure referred to in paragraph 1 of the Auditor’s Report of even date to themembers of VENUS UNIVERSAL LTD on the financial statements for the year ended 31st March2014.

1. a) The Company has maintained proper records showing full particulars includingquantities details and situation of fixed asset except depreciation not provided on .portal.

b) The fixed asset has been physically verified by the management at reasonableintervals; No material discrepancies were noticed on such verification by the management

c) The company has not disposed off any of the fixed assets during the year.

2. According to the information and explanation given to us and the records of thecompany examined by us in our opinion the company is maintaining proper records ofinventory and the management conducts verification of inventory at reasonable intervalsand there were no major material discrepancies noticed on physical verification.

3. According to information and explanation given to us the company has not grantedany loans secured or unsecured to Companies firms & others p&rties coveredunder Section 301 of the Companies Act 1956.Consequenly the provisions of clause 4(iii)(b) (c) and (d) of the CARO 2003 are not applicable.

4. In our opinion and according to the information and explanations given to us thereis an adequate internal control system commensurate with the size of the company and thenature of its business for purchase of inventory and for the sale of goods / services.Further on the basis of our examination of the books and records of the company andaccording to the information and explanations given to us we have neither come across norhave been informed of any continuing failure to correct major weaknesses in the aforesaidinternal control system.

5. a) According to the information and explanations given to us we are of the opinionthat the particulars of all Contracts or arrangements that need to be entered into theregister maintained under section 301 of the Companies Act *1956 have been so entered.

b) In our opinion and according to the information and explanations given to us thetransactions made in pursuance of contracts or arrangements entered in the registermaintained under section 301 of the Companies Act 1956 and exceeding the value of rupeesfive lakhs in respect of any during the year have been made at prices which are reasonablehaving regard to prevailing market prices at the relevant time.

6. In our opinion and according to the information and explanations given to us thecompany has not accepted any deposits from the public within the meaning of Section 58Aand 58AA or any other relevant provision of the Companies Act 1956 and rules framed thereunder.

7. In our opinion the company has an adequate internal audit system commensurate withthe size and nature of its business.

8. According to the information and explanations given to us the Central Governmenthas not prescribed maintenance of cost record under clause (d) of sub section (1) ofsection 209 of the companies Act 1956 for the industry in which the Company operates.

9. a) According to the information and explanations given to us and according to thebooks and records as produced and examined by us in our opinion the undisputed statutorydues in respect of provident fund employees state insurance income tax VAT wealth taxcustoms duty excise duty cess and others as applicable have been regularly deposited bythe company during the year with the appropriate authorities except the service tax is dueon company. "

b) According to information and explanation given to us there are no dues outstandingof VAT income tax customs duty wealth tax excise duty and cess which have not beendeposited on account of any dispute.

10. The company has incurred Profit in the financial year 31st March 2014. The companyhas accumulated losses of Rs. 55877610.00 up to the 31st March 2014.

11. According to the information and explanations given to us the Company does notraised any loan by issued of debenture or does not taken any loans from the financial

Institution or Banks Consequently provision of clause 4(xi) of CARO 2003 are notapplicable.

12. According to the information and explanations given to us the company has notgranted loans and advance on the basis of security by way of pledge of shares debentureand other securities.

13. The provisions of special statutes applicable to chit fund/ nidhi/ mutual benefitfund / societies are not applicable to the company. '

14. In our opinion and according to the information and explanations given to us thecompany is not dealing or trading in shares securities debentures and other investment.

15. In our opinion and according to the information and explanations given to us thecompany has not given any guarantee for loans taken by others from banks or financialinstitutions during the year.

16. On the basis of the records examined by us & relying on the informationcomplied by the company for co-relating the funds raised to the end use of the term loanswe have to state that the company has prima facie applied loan for the purpose forwhich they were obtained.

17. On the basis of overall examination of the balance sheet and Cash flow Statement ofthe company the funds raised on short-term basis have not been used for long-terminvestment during the year.

18. The company has not made any preferential allotment of shares to parties andcompanies covered in the Register maintained under* Section 301 of the Companies Act1956 during the year.

19. The company has neither issued any debentures nor created any securities or chargesin respect of debenture.

20. The company has not raised any money by public issue during the year.

21. 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 exceptdepreciation and according to the information and explanations given to us we haveneither come across any instance of material fraud on or by the Company noticed orreported during the year nor have been informed of such case by the management.

For Ashok S. Lohade
Chartered Accountants
Sd/-
Place : Nasik Ashok S. Lohade
Date : 26th Aug. 2014. (Proprietor)