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Worldwide Aluminium Ltd.

BSE: 526525 Sector: Others
NSE: N.A. ISIN Code: INE550D01010
BSE 00:00 | 23 Sep 9.36 0
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NSE 05:30 | 01 Jan Worldwide Aluminium Ltd
OPEN 9.85
PREVIOUS CLOSE 9.36
VOLUME 98
52-Week high 18.45
52-Week low 6.50
P/E 312.00
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 9.85
CLOSE 9.36
VOLUME 98
52-Week high 18.45
52-Week low 6.50
P/E 312.00
Mkt Cap.(Rs cr) 3
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Worldwide Aluminium Ltd. (WORLDWIDEALUMI) - Auditors Report

Company auditors report

To The Members of

WORLDWIDE ALUMINIUM LIMITED

Report on the Standalone Financial Statements

We have audited the accompanying standalone financial statements ofWORLDWIDE ALUMINIUM LIMITED ("the Company") which comprise the Balance Sheet asat March 31 2020 and the Statement of Profit and Loss (including Other ComprehensiveIncome) the Cash Flow Statement and the Statement of Changes in Equity for the year thenended and a summary of the significant accounting policies and other explanatoryinformation.

Opinion

In our opinion and to the best of our information and according to theexplanations given to us the aforesaid financial statements give the information requiredby the Act in the manner so required and give a true and fair view in conformity with theaccounting principles generally accepted in India of the state of affairs of the Companyas at 31st March 2020 its Profit & Loss and cash flow for the year ended on thatdate.

Basis for opinion

We conducted our audit in accordance with the Standards on Auditing(SAs) specified under section 143(10) of the Companies Act 2013. Our responsibilitiesunder those Standards are further described in the Auditor's Responsibilities for theAudit of the 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 thefinancial statements under the provisions of the Companies Act 2013 and the Rules thereunder and we have fulfilled our other ethical responsibilities in accordance with theserequirements and the Code of Ethics. We believe that the audit evidence we have obtainedis sufficient and appropriate to provide a basis for our opinion.

Key Audit Matters

Key audit matters are those matters that in our professional judgmentwere of most significance in our audit of the financial statements of the current period.These matters were addressed in the context of our audit of the financial statements andin forming our opinion thereon and we do not provide a separate opinion on these matters.

Reporting of key audit matters as per SA 701 Key Audit Matters are notapplicable to the Company as it is an unlisted company.

Management's Responsibility for the Standalone Financial Statements

The Company's Board of Directors is responsible for the matters statedin Section 134(5) of the Companies Act 2013 ("the Act") with respect to thepreparation of these standalone financial statements that give a true and fair view of thefinancial position financial performance including other comprehensive income cash flowsand changes in equity of the Company in accordance with the Indian Accounting Standards(Ind AS) prescribed under section 133 of the Act read with the Companies (IndianAccounting Standards) Rules 2015 as amended and other accounting principles generallyaccepted in India.

This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and 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 standalone financial statements that give a true and fair view and are free frommaterial misstatement whether due to fraud or error.

In preparing the 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.

Those Board of Directors are also responsible for overseeing theCompany's financial reporting process.

Auditor's Responsibility

Our responsibility is to express an opinion on these standalonefinancial statements based on our audit.

In conducting our audit we have taken into account the provisions ofthe Act the accounting and auditing standards and matters which are required to beincluded in the audit report under the provisions of the Act and the Rules made thereunder and the Order issued under section 143(11) of the Act.

We conducted our audit of the standalone financial statements inaccordance with the Standards on Auditing specified under Section 143(10) of the Act.Those Standards require that we comply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether the standalone financial statements arefree from material misstatement.

An audit involves performing procedures to obtain audit evidence aboutthe amounts and the disclosures in the standalone financial statements. The proceduresselected depend on the auditor's judgment including the assessment of the risks ofmaterial misstatement of the standalone financial statements whether due to fraud orerror. In making those risk assessment the auditor considers internal financial controlrelevant to the Company's preparation of the standalone financial statements that give atrue and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of the accountingpolicies used and the reasonableness of the accounting estimates made by the Company'sDirectors as well as evaluating the overall presentation of the standalone financialstatements.

We believe that the audit evidence obtained by us is sufficient andappropriate to provide a basis for our audit opinion on the standalone financialstatements.

Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act based on our audit wereport that:

a) We have sought and obtained all the information and explanationswhich to the best of our knowledge and belief were necessary for the purposes of ouraudit.

b) In our opinion proper books of account as required by law have beenkept by the Company so far as it appears from our examination of those books.

c) The Balance Sheet the Statement of Profit and Loss including OtherComprehensive Income the Cash Flow Statement and Statement of Changes in Equity dealtwith by this Report are in agreement with the books of account.

d) In our opinion the aforesaid standalone financial statements complywith the Indian Accounting Standards prescribed under section 133 of the Act.

e) On the basis of the written representations received from thedirectors of the Company as on March 31 2020 taken on record by the Board of Directorsnone of the directors is disqualified as on March 31 2020 from being appointed as adirector in terms of Section 164(2) of the Act.

f) With respect to the adequacy of the internal financial controls overfinancial reporting of the Company and the operating effectiveness of such controls referto our separate Report in "Annexure A". Our report expresses an unmodifiedopinion on the adequacy and operating effectiveness of the Company's internal financialcontrols over financial reporting.

g) With respect to the other matters to be included in the Auditor'sReport in accordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 asamended in our opinion and to the best of our information and according to theexplanations given to us:

• The Company has no any pending litigations

• The Company did not have any long-term contracts includingderivative contracts during the year.

h) As required by the Companies (Auditor's Report) Order 2016("the Order") issued by the Central Government in terms of Section 143(11) ofthe Act we give in "Annexure B" a statement on the matters specified inparagraphs 3 and 4 of the Order.

Date: 31st July 2020 For SURRENDRA & ASSOCIATES
Place: New Delhi Chartered Accountants
(FRN010189N)
S. K. PENSI
Partner
(Membership No.85572)
UDIN: 20085572AAAAAR6013

ANNEXURE A TO THE INDEPENDENT AUDITOR'S REPORT

(Referred to in paragraph 1(f) under 'Report on Other Legal andRegulatory Requirements'

section of our report of even date)

Report on the Internal Financial Controls over financial reportingunder Clause (i) of Subsection 3 of Section 143 of the Companies Act 2013 ("theAct").

We have audited the internal financial controls over financialreporting of WORLDWIDE ALUMINIUM LIMITED ("the Company") as of March 31 2020 inconjunction with our audit of the standalone financial statements of the Company for theyear ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's management is responsible for establishing andmaintaining internal financial controls based on "the internal control over financialreporting criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note on Audit of Internal Financial Controls OverFinancial Reporting issued by the Institute of Chartered Accountants of India". Theseresponsibilities include the design implementation and maintenance of adequate internalfinancial controls that were operating effectively for ensuring the orderly and efficientconduct of its business including adherence to company's policies the safeguarding ofits assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliable financialinformation as required under the Companies Act 2013.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company's internalfinancial controls over financial reporting based on our audit. We conducted our audit inaccordance with the Guidance Note on Audit of Internal Financial Controls Over FinancialReporting (the "Guidance Note") and the Standards on Auditing issued by theInstitute of Chartered Accountants of India and deemed to be prescribed under section143(10) of the Companies Act 2013 to the extent applicable to an audit of internalfinancial controls. Those Standards and the Guidance Note require that we comply withethical requirements and plan and perform the audit to obtain reasonable assurance aboutwhether adequate internal financial controls over financial reporting was established andmaintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence aboutthe adequacy of the internal financial controls system over financial reporting and theiroperating effectiveness.

Our audit of internal financial controls over financial reportingincluded obtaining an understanding of internal financial controls over financialreporting assessing the risk that a material weakness exists and testing and evaluatingthe design and operating effectiveness of internal control based on the

assessed risk. 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.

We believe that the audit evidence we have obtained is sufficient andappropriate to provide a basis for our audit opinion on the Company's internal financialcontrols system over financial reporting.

Meaning of Internal Financial Controls Over Financial Reporting

A company's internal financial control over financial reporting is aprocess designed to provide reasonable assurance regarding the reliability of financialreporting and the preparation of financial statements for external purposes in accordancewith generally accepted accounting principles. A company's internal financial control overfinancial reporting includes those policies and procedures that (1) pertain to themaintenance of records that in reasonable detail accurately and fairly reflect thetransactions and dispositions of the assets of the Company; (2) provide reasonableassurance that transactions are recorded as necessary to permit preparation of financialstatements in accordance with generally accepted accounting principles and that receiptsand expenditures 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 FinancialReporting

Because of the inherent limitations of internal financial controls overfinancial reporting including the possibility of collusion or improper managementoverride of controls material misstatements due to error or fraud may occur and not bedetected. Also projections of any evaluation of the internal financial controls overfinancial reporting to future periods are subject to the risk that the internal financialcontrol over financial reporting may become inadequate because of changes in conditionsor that the degree of compliance with the policies or procedures may deteriorate.

Opinion

In our opinion to the best of our information and according to theexplanations given to us 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 March 31 2020 based on"the criteria for internal financial control over financial reporting established bythe Company considering the essential components of internal control stated in theGuidance Note on Audit of Internal Financial Controls Over Financial Reporting issued bythe Institute of Chartered Accountants of India".

Date: 31st July 2020 For SURRENDRA & ASSOCIATES
Place: New Delhi Chartered Accountants
(FRN010189N)
S. K. PENSI
Partner
(Membership No.85572)
UDIN: 20085572AAAAAR6013

ANNEXURE B TO THE INDEPENDENT AUDITORS' REPORT

(Referred to in paragraph 1(h) under 'Report on Other Legal andRegulatory Requirements'

section of our report of even date)

(i) In respect of its fixed assets:

(a) The Company is maintaining proper records showing full particularsincluding quantitative details and situation of fixed assets.

(b) The fixed assets were physically verified during the year by theManagement in accordance with a programme of verification which in our opinion providesfor physical verification of all the fixed assets at reasonable intervals. According tothe information and explanations given to us no material discrepancies were noticed onsuch.

(c) According to the information and explanations given to us and onthe basis of our examination of the records of the Company the company has no immovableproperties.

(ii) As explained to us the inventories (other than goods in transit)were physically verified during the year by the Management at the reasonable intervals andno material discrepancies have been noticed on physical verification.

(iii) The Company has not granted any loans secured or unsecured tocompanies firms limited liability partnerships (LLPs) or other parties covered inregister maintained under Section 189 of the Act. Therefore the provisions of clause 3(iii) of the said Order are not applicable to the Company.

(iv) In our opinion and according to the information and explanationsgiven to us there are no loans investments guarantees and securities granted inrespect of which provisions of Section 185 and 186 of the Act are applicable to theCompany and hence not commented upon.

(v) According to the information and explanations given to us theCompany has not accepted any deposits and had no unclaimed deposits at the beginning ofthe year within the meaning of Sections 73 to 76 of the Act and the Rules framed thereunder to the extent notified. Accordingly the provisions of clause 3(v) of the Order arenot applicable.

(vi) To the best of our knowledge and belief the Central Governmenthas not prescribed the maintenance of cost records under sub-section (1) of section 148 ofthe Companies Act 2013 in respect of Company's products. Accordingly the provisions ofclause 3(vi) are not applicable to the Company.

(vii) (a) According to the information and explanations given to us andon the basis of our examination of the records of the Company the Company is generallyregular in depositing with appropriate authorities undisputed statutory dues in respect ofprovident fund income tax wealth tax sales tax service tax goods and services taxduty of customs value added tax cess and other material statutory dues as applicable andthere are no undisputed amounts payable in respect of aforesaid statutory dues were inarrears as at March 31 2020 for a period of more than six months from the date theybecame payable.

(b) According to the information and explanation given to us and therecords of the Company examined by us there are no dues of income tax sales tax servicetax and customs duty which have not been deposited on account of any dispute.

(viii) According to the information and explanations given to us andrecords of the Company examined by us the company has not taken any loan from financialinstitution banks or government. Accordingly the provisions of clause 3(viii) are notapplicable to the Company. Further the Company does not have any debenturesissued/outstanding any time during the year.

(ix) The Company has not raised any money by way of initial publicoffer or further public offer (including debt instruments). Further according to theinformation and explanations given to us on overall basis the Company does not obtainedany term during the year. Accordingly the provisions of clause 3(ix) of the Order are notapplicable to the Company.

(x) According to the information and explanations given to us nomaterial fraud by the Company or on the Company by its officers or employees has beennoticed or reported during the course of our audit.

(xi) In our opinion and information and explanation given to us thecompany has paid /provided managerial remuneration in accordance with requisite approvalsmandated by the provision of section 197 read with schedule V of the Companies Act 2013.

(xii) In our opinion and according to the information and explanationsgiven to us the Company is not a Nidhi Company. Accordingly paragraph 3(xii) of theOrder is not applicable.

(xiii) According to the information and explanations given to us andbased on our examination of the records of the Company transactions with the relatedparties are in compliance with Section188 and 177 of the Companies Act2013 whereapplicable and details of such transactions have been disclosed in the financialstatements as required by the applicable accounting standard.

(xiv) According to the information and explanations given to us andbased on our examination of the books and records the Company has not made anypreferential allotment or private placement of shares or fully or partly convertibledebentures during the year. Accordingly provisions of clause 3 (xiv) of the order are notapplicable to the Company.

(xv) According to the information and explanations given to us andbased on our examination of the books and records the Company has not entered intonon-cash transactions with directors or persons connected with him as prescribed underSection 192 of the Act. Accordingly paragraph 3(xv) of the Order is not applicable.

(xvi) The Company is not required to be registered under Section 45-IAof the Reserve Bank of India Act 1934. Accordingly paragraph 3(xvi) of the Order is notapplicable.

Date: 31st July 2020 For SURRENDRA & ASSOCIATES
Place: New Delhi Chartered Accountants
(FRN010189N)
S. K. PENSI
Partner
(Membership No.85572)
UDIN: 20085572AAAAAR6013

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