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असमब्रूक

बीएसई: 500025  |  NSE: N.A  |  ISIN: INE353C01011  |  Plantations - Tea & Coffee

खोजें असमब्रूक कनेक्शन Mar 13
लेखा परीक्षकों की रिपोर्ट वर्षांत : Mar '14
We have audited the accompanying financial statements of ASSAMBROOK
 LIMITED (the Company), which comprise the Balance Sheet as at March
 31, 2014, the Statement of Profit and Loss and Cash Flow Statement for
 the year then ended and a summary of significant accounting policies
 and other explanatory information.
 
 Management''s Responsibility for the Financial Statements
 
 Management is responsible for the preparation of these financial
 statements that give a true and fair view of the financial position,
 financial performance and cash flows of the Company in accordance with
 the accounting principles generally accepted in India including
 Accounting Standards referred to in sub-section (3C) of section 211 of
 the Companies Act, 1956 (the Act) read with the General Circular
 15/2013 dated 13 September 2013 of the Ministry of Corporate Affairs in
 respect of Section 133 of the Companies Act,2013.This responsibility
 includes the design, implementation and maintenance of internal control
 relevant to the preparation and presentation of the financial
 statements that give a true and fair view and are free from material
 misstatement, whether due to fraud or error.
 
 Auditors'' Responsibility
 
 Our responsibility is to express an opinion on these financial
 statements based on our audit. We conducted our audit in accordance
 with the Standards on Auditing issued by the Institute of Chartered
 Accountants of India. Those Standards require that we comply with
 ethical requirements and plan and perform the audit to obtain
 reasonable assurance about whether the financial statements are free
 from material misstatements.
 
 An audit involves performing procedures to obtain audit evidence about
 the amounts and disclosures in the financial statements. The procedures
 selected depend on the auditor''s judgment, including the assessment of
 the risks of material misstatement of the financial statements, whether
 due to fraud or error. In making those risk assessments, the auditor
 considers internal control relevant to the entity''s preparation and
 fair presentation of the financial statements in order to design audit
 procedures that are appropriate in the circumstances, but not for the
 purpose of expressing an opinion on the effectiveness of the entity''s
 internal control. An audit also includes evaluating the appropriateness
 of accounting policies used and the reasonableness of the accounting
 estimates made by management, as well as evaluating the overall
 presentation of the financial statements.
 
 We believe that the audit evidence we have obtained is sufficient and
 appropriate to provide a basis for our audit opinion.
 
 Opinion
 
 In our opinion and to the best of our information and according to the
 explanations given to us, the aforesaid financial statements give the
 information required by the Act in the manner so required and give a
 true and fair view in conformity with the accounting principles
 generally accepted in India: subject to Note No.26 regarding
 non-provision of interest and penalties on account of non-payment of
 Provident Fund Dues, the impact of which is presently not ascertainable
 
 (a) In the case of the Balance Sheet, of the state of affairs of the
 Company as at March 31,2014;
 
 (b) In the case of the statement of Profit and Loss, of the profit for
 the year ended on that date; and
 
 (c) In the case of the Cash Flow Statement, of the cash flows for the
 year ended on that date.
 
 Report on Other Legal and Regulatory Requirement
 
 1. As required by the Companies (Auditor''s Report) Order, 2003 (the
 Order) issued by the Central Government of India in terms of
 sub-section (4A) of section 227 of the Act, we give in the Annexure a
 statement on the matters specified in paragraphs 4 and 5 of the Order.
 
 2. As required by section 227(3) of the Act, we report that:
 
 a. We have obtained all the information and explanations which to the
 best of Our knowledge and belief were necessary for the purpose of our
 audit;
 
 b. In our opinion proper books of account as required by law has been
 kept by the Company so far as appear from our examination of those
 books.
 
 c. The Balance Sheet, Statement of Profit and Loss, and Cash Flow
 Statement dealt with by this Report are in agreement with the books of
 account.
 
 d. In our opinion, the Balance Sheet, the Statement of Profit and Loss,
 and Cash Flow Statement comply with the Accounting Standards referred
 to in subsection (3C) of section 211 of the Companies Act, 1956; read
 with the General Circular 15/2013 dated 13 September 2013 of the
 Ministry of Corporate Affairs in respect of Section 133 of the
 Companies Act, 2013; and
 
 e. On the basis of written representations received from the directors
 as on March 31, 2014, and taken on record by the Board of Directors,
 none of the directors is disqualified as on March 31, 2014, from being
 appointed as a director in terms of clause (g) of sub-section (1) of
 section 274 of the Companies Act, 1956.
 
 
 ANNEXURE TO INDEPENDENT AUDITORS'' REPORT:
 
 Referred to in paragraph 1 under the heading of Report on Other Legal
 and Regulatory Requirement of our report of even date
 
 1. In respect of its Fixed assets:
 
 a. The Company has maintained proper records showing full particulars
 including quantitative details and situation of its fixed assets on the
 basis of available information.
 
 b. As explained to us, all the fixed assets of the Company have been
 physically verified by the management in phased periodical manner,
 which in our opinion, is reasonable, having regard to the size of the
 Company and nature of its assets. No material discrepancies have been
 noticed on such physical verification.
 
 c. In our opinion, the Company has not disposed off a substantial part
 of its fixed assets during the year and the going concern status of the
 Company is not affected.
 
 2. In respect of its inventories:
 
 a. The inventories of the Company have been physically verified during
 the year by the management. In our opinion, the frequency of
 verification is reasonable.
 
 b. In our opinion and according to the information and explanations
 given to us, the procedures of physical verification of inventories
 followed by the management are reasonable and adequate in relation to
 the Company and the nature of its business.
 
 c. The Company has maintained proper records of inventories. As far as
 ascertained, discrepancies noticed on verification between the physical
 stocks and the book records were not material and the same have been
 properly dealt with in the books of accounts.
 
 3. In respect of the loans, secured or unsecured, granted or taken by
 the Company to/from companies, firms or other parties covered in the
 register maintained under Section 301 of the Companies Act, 1956:
 
 a. The Company has neither given nor taken any loan during the year
 from companies, firms or other parties covered in the Register
 maintained under Section 301 of the Companies Act, 1956. Consequently,
 the requirements of Clauses (iii) (a) to (iii) (g) of paragraph 4 of
 the Order are not applicable.
 
 4. In our opinion and according to the information and explanations
 given to us, there is an adequate internal control system commensurate
 with the size of the Company and the nature of its business for the
 purchases of inventory and fixed assets and for the sale of goods.
 During the course of our audit, we have not observed any continuing
 failure to correct major weaknesses in internal control system.
 
 5. In respect of the contracts or arrangements referred to in Section
 301 of the Companies Act, 1956:
 
 a. In our opinion and according to the information and explanations
 given to us, there have been no transactions made in pursuance of
 contracts or arrangements that need to be entered in the register
 maintained under Section 301 of the Companies Act, 1956.
 
 6. According to the information and explanations given to us, the
 Company has not accepted any deposit from the public. Therefore, the
 provisions of Clause (vi) of paragraph 4 of the Order are not
 applicable to the Company.
 
 7. In our opinion, the present internal audit system of the Company
 requires to be strengthened to make it commensurate with the size and
 nature of its business.
 
 8. The Central Government has not prescribed maintenance of cost
 records under Section 209(1) (d) of the Companies Act, 1956 for any of
 the product of the Company.
 
 9. In respect of statutory dues:
 
 According to the records of the Company, undisputed statutory dues
 including Provident Fund, Investor Education and Protection Fund,
 Employees'' State Insurance, Income- Tax, Sales Tax, Wealth Tax, Service
 Tax, Customs Duty, Excise Duty, Cess and other statutory dues have been
 generally regularly deposited with the appropriate authorities.
 According to the information and explanations given to us, no
 undisputed amounts payable in respect of the aforesaid dues were
 outstanding as at March 31, 2014 for a period of more than six months
 from the date of becoming payable except the followings:
 
 Sr.  Nature of Dues                 Amount (Rs.)
 No.
 
 1.   Green Leaf Cess                   15,06,007
 
 2.   Profession Tax                     5,14,409
 
 3.   Sales Tax                         11,24,000
 
 As regards amount of Provident Fund Dues which relates to earlier years
 the office of P.F. Commissioner, The Board of Trustee vide their letter
 no. PF (L)/2009/D-96/D-37/D- 51/D-35/D-31/3252-59 Dated: 01/09/2009 had
 granted installment for payment of arrear due and the same are to be
 paid in 60 monthly installments from November 2009. The installments
 during the year are generally paid regularly by the company, and the
 outstanding amount of P.F. Dues as on the date of Balance sheet is Rs.
 3,10,30,845.
 
 10. The Company has accumulated losses of Rs. 9,84,98,000 at the end of
 the financial year. The Company has not incurred cash losses during the
 financial year covered by the audit and in the immediately preceding
 financial year.
 
 11. Based on our audit procedures and according to the information and
 explanations given to us, we are of the opinion that the Company has
 not defaulted in repayment of dues to financial institutions and banks.
 
 12. In our opinion and according to the explanations given to us and
 based on the information available, no loans and advances have been
 granted by the Company on the basis of security by way of pledge of
 shares, debentures and other securities.
 
 13. In our opinion, the Company is not a chit fund/nidhi/mutual benefit
 fund/society. Therefore, the provisions of clause (xiii) of paragraph
 4 of the Order are not applicable to the Company.
 
 14. According to the information and explanations given to us, the
 company is not a dealer or trader in securities.
 
 15. The Company has not given any guarantees for loans taken by others
 from banks and financial institutions.
 
 16. According to the information and explanations given to us and on an
 overall examination, the term loan has been applied for the purpose for
 which they were obtained.
 
 17. According to the information and explanations given to us and on an
 overall examination of the Balance Sheet of the Company, we are of the
 opinion that there are no funds raised on short-term basis that have
 been used for long-term investment.
 
 18. The Company has not made any preferential allotment of shares to
 parties and companies covered in the Register maintained under
 Section301 of the Companies Act, 1956 during the year.
 
 19. The Company has not issued any debenture during the year.
 
 20. The Company has not raised any monies by way of public issues
 during the year.
 
 21. In our opinion and according to the information and explanations
 given to us, no material fraud on or by the Company has been noticed or
 reported during the year.
 
                                                   For TIWARI & COMPANY
                                                  CHARTERED ACCOUNTANTS
                                                  Firm Regn No. 309112E
 Place: Kolkata
 Dated: 30 May 2014                                         (P. Tiwari)
                                                  (Partner) (M.N.16590)
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • BREAKING NEWS LOWER : देश में अब तक 45,24,317 कोरोना टेस्ट हुए
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