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Vintage Securities Ltd.

BSE: 531051 Sector: Financials
NSE: N.A. ISIN Code: INE153C01015
BSE 00:00 | 17 Sep 6.90 0.15
(2.22%)
OPEN

7.08

HIGH

7.08

LOW

6.90

NSE 05:30 | 01 Jan Vintage Securities Ltd
OPEN 7.08
PREVIOUS CLOSE 6.75
VOLUME 503
52-Week high 13.38
52-Week low 3.88
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 7.08
CLOSE 6.75
VOLUME 503
52-Week high 13.38
52-Week low 3.88
P/E
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Vintage Securities Ltd. (VINTAGESECUR) - Auditors Report

Company auditors report

TO THE MEMBERS OF VINTAGE SECURITIES LIMITED

Report on the Audit of the standalone Financial Statements

Opinion

We have audited the accompanying Standalone financial statements of VINTAGE SECURITIESLIMITED ("the Company") which comprises the Balance Sheet as at 31st March2020 the Statement of Profit and Loss and the Statement of Cash Flows for the year thenended and notes to the financial statements including a summary of the significantaccounting policies and other explanatory information. In our opinion and to the best ofour information and according to the explanations given to us the aforesaid standalonefinancial statements give the information required by the Companies Act 2013 in themanner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India of the state of affairs of the Company as at 31stMarch 2020 its Loss and its cash flows for the year ended on that date.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specifiedunder section 143(10) of the Companies Act 2013. Our responsibilities under thoseStandards are further described in the Auditor's Responsibilities for the Audit of theStandalone Financial Statements section of our report. We are independent of the Companyin accordance with the Code of Ethics issued by the Institute of Chartered Accountants ofIndia together with the ethical requirements that are relevant to our audit of theStandalone financial statements under the provisions of the Companies Act 2013 and theRules there under and we have fulfilled our other ethical responsibilities in accordancewith these requirements and the Code of Ethics. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.

We draw attention to note no. 15 of the accompanying financial statement which statesthe impact of Coronavirus disease 2019 (COVID 19) on the operation of the company. Ouropinion is not modified in respect of this matter

Key Audit Matters

Key audit matters are those matters that in our professional judgment were of mostsignificance in our audit of the standalone financial statements of the current period.These matters were addressed in the context of our audit of the standalone financialstatements as a whole and in forming our opinion thereon and we do not provide aseparate opinion on these matters. We have determined the matters described below to bethe key audit matters to be communicated in our report

Sr Key Audit matter Auditor's Response
1 Investments: Our audit approach:
Investments of the Company account for 99.37% of total assets. This comprises both quoted and unquoted Equity Shares. Dividend received on the investments form the major part of the income of the company. We have verified the Demat Statement for the Company's holding. Shares which are not Demat have been physically verified by us.
We have compared the market values of the quoted shares from the values given in the Demat statement and as well as BSE site.
For unquoted share Value have been considered at cost
Dividend received has been checked with reference to Bank Statement.

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

The Company's Board of Directors is responsible for the other information. The otherinformation comprises the information included in the Board's Report including Annexure toBoard's Report but does not include the standalone financial statements and our auditor'sreport thereon.

Our opinion on the standalone financial statements does not cover the other informationand we do not express any form of assurance conclusion thereon.

In connection with our audit of the standalone financial statements our responsibilityis to read the other information and in doing so consider whether the other informationis materially inconsistent with the standalone financial statements or our knowledgeobtained in the audit or otherwise appears to be materially misstated.

If based on the work we have performed we conclude that there is a materialmisstatement of this other information we are required to report that fact. We havenothing to report in this regard.

Management's Responsibility for the Standalone 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 of thesestandalone 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 the Accounting Standards specified underSection 133 of the Act. This responsibility also includes maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding of theassets of the Company and for preventing and detecting frauds and other irregularities;selection and application of appropriate accounting policies; making judgments andestimates that are reasonable and prudent; and design implementation and maintenance ofadequate internal financial controls that were operating effectively for ensuring theaccuracy and completeness of the accounting records relevant to the preparation andpresentation of the standalone financial statements that give a true and fair view and arefree from material misstatement whether due to fraud or error.

In preparing the standalone financial statements management is responsible forassessing the Company's ability to continue as a going concern disclosing as applicablematters related to going concern and using the going concern basis of accounting unlessmanagement either intends to liquidate the Company or to cease operations or has norealistic alternative but to do so.

The Board of Directors are responsible for overseeing the Company's financial reportingprocess.

Auditor's Responsibilities for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalonefinancial statements as a whole are free from material misstatement whether due to fraudor error and to issue an auditor's report that includes our opinion. Reasonable assuranceis a high level of assurance but 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 standalone financial statements.

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 (11) of thesection 143 of the Act we give in the Annexure ‘A' a statement on the matterspecified in paragraph 3 and 4 of the Order to the extent applicable.

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 and the statement of Cash Flowdealt with by this Report are in agreement with the books of account.

(d) In our opinion the aforesaid standalone financial statements comply with theAccounting Standards specified under Section 133 of the Act read with Rule 7 of theCompanies (Accounts) Rules 2014.

(e) On the basis of the written representations received from the directors as on 31stMarch 2020 taken on record by the Board of Directors none of the directors isdisqualified as on 31st March 2020 from being appointed as a director in terms of Section164 (2) of the Act;

(f) With respect to the adequacy of the internal financial controls over financialreporting of the Company and the operative effectiveness of such controls refer to ourseparate report in 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 does not have any pending litigations which would impact its financialposition.

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

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

For S.N.ROY & CO

Chartered Accountants

Firm Registration No 313054E

( Ranajit Majumdar )

Partner

Membership No 060098

Place : Kolkata

Date : 29th June 2020

Annexure - A to the Independent Auditor's Report

The Annexure referred to in paragraph 1 under the heading "Report on Other Legaland Regulatory Requirements" of our Independent Auditors' Report of even date inrespect to statutory audit of VINTAGE SECURITIES LIMITED for the year ended 31st March2020 we report that :

i. The Company does not have any Property Plant & Equipment and hence paragraph3(i)(a) 3(i)(b) and 3(i)(c) of the order is not applicable.

ii. The company has no manufacturing and / or trading activities and as such thequestion of having any stock and maintenance of records in respect thereof and physicalverification of inventory does not arise. Thus paragraph 3(ii) of the order is notapplicable.

iii. The company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under section 189 of the Companies Act2013. Thus paragraph 3(iii) of the order is not applicable.

iv. The company has neither given any loan nor have made any investment during the yearand thus paragraph 3(iv) of the order is not applicable.

v. The Company has not accepted any deposits from the public during the year. Thusparagraph

3(v) of the Order is not applicable.

vi. The Company is not required to maintain any cost records under section 148(1) ofthe Act. Thus paragraph 3(vi) of the Order is not applicable.

vii. (a) The Company is regular in depositing undisputed statutory dues with theappropriate authorities as applicable. As the Company has no employees and nomanufacturing and or trading activities are carried on by the Company the question ofpayment of Provident Fund Employees' State Insurance Income Tax Sales Tax Service TaxDuty of Customs Duty of Excise VAT Cess etc. does not arise.

According to the information and explanations given to us no undisputed amountspayable in respect of Provident Fund Employees' State Insurance Income Tax Sales TaxService Tax Duty of Customs Duty of Excise VAT Cess and other material statutory dueswere in arrears as at 31st March 2019 for the period of more than six months from thedate they become payable.

(b) According to the information and explanations given to us there are no materialdues of Income Tax Sales Tax Service Tax Duty of Customs Duty of Excise Value AddedTax which have not been deposited with the appropriate authorities on account of anydispute.

viii. The Company has not borrowed from financial institutions or Banks or Governmentissued Debentures during the year. Thus paragraph 3(viii) of the Order is not applicable.

ix. The Company has not raised any money by way of initial public offer or furtherpublic offer including debt instruments and term loans during the year. Thus paragraph3(ix) of the Order is not applicable.

x. According to the information and explanations given by the management we reportthat no fraud on the Company by its officers or employees has been noticed or reportedduring the course of our Audit.

xi. The Company has no whole time Director or manager in the financial year. Henceparagraph 3(xi) of the Order is not applicable.

xii. The Company is not a Nidhi Company. Hence paragraph 3(xii) of the Order is notapplicable.

xiii. The Company has not entered into any transactions with related party as definedin Section 177 and Section 188 of the Companies Act 2013 and thus paragraph 3(xiii) ofthe Order is not applicable.

xiv. According to the information and explanations given by the management and based onour examination 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. Thus paragraph 3(xiv) of the Order is not applicable

xv. According to the information and explanations given by the management and based onour examination of the records of the Company the Company has not entered into anynon-cash transactions with directors or persons connected with him. Thus paragraph 3(xv)of the Order is not applicable

xvi. The Company is not a Non-Banking Financial Company. Registration under section45-IA of the Reserve Bank of India has been cancelled by Reserve Bank Of India. videletter no DNBS.RO.KOL.NO.12026/03.03.008/2017-18 Dated 21-06-2018

For S.N.ROY & CO

Chartered Accountants

Firm Registration No 313054E

( Ranajit Majumdar )

Partner

Membership No 060098

Place : Kolkata

Date : 29th Junne 2020

Annexure B to the Independent Auditor's Report

The Annexure referred to in paragraph 2 (f) under the heading "Report on OtherLegal and Regulatory Requirements" of our Independent Auditors' Report of even datein respect to internal financial control under clause (i) of sub-section 3 of Section 143of the Companies Act 2013 of VINTAGE SECURITIES LIMITED for the year ended 31st March2020 we report that :

We have audited the internal financial controls over financial reporting of VINTAGESECURITIES LIMITED ("the Company") as of 31st March 2020 in conjunction with ouraudit of the Standalone 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. These responsibilities includethe design implementation and maintenance of adequate internal financial controls thatwere operating effectively for ensuring the orderly and efficient conduct of its businessincluding adherence to company's policies the safeguarding of its assets the preventionand detection of frauds and errors the accuracy and completeness of the accountingrecords and the timely preparation of reliable financial information as required underthe 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 on Audit of

Internal Financial Controls Over Financial Reporting (the "Guidance Note")and the Standards on Auditing issued by ICAI and deemed to be prescribed under section143(10) of the Companies Act 2013 to the extent applicable to an audit of internalfinancial controls both applicable to an audit of Internal Financial Controls and bothissued by the Institute of Chartered Accountants of India. Those Standards and theGuidance Note require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether adequate internal financial controlsover financial reporting was established and maintained and if such controls operatedeffectively in all material respects.

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 judgement including the assessment of the risks ofmaterial misstatement of the Standalone financial statements whether due to fraud orerror. We believe that the audit evidence we have obtained is sufficient and appropriateto provide a basis for our audit opinion on the Company's internal financial controlssystem over 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 Standalone financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures of the company are being made only in accordance with authorisations ofmanagement and directors of the company; and (3) provide reasonable assurance regardingprevention or timely detection of unauthorised acquisition use or disposition of thecompany's assets that could have a material effect on the Standalone 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 our 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 S.N.ROY & CO

Chartered Accountants

Firm Registration No 313054E

( Ranajit Majumdar )

Partner

Membership No 060098

Place : Kolkata

Date : 29th June 2020

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