Mar 31, 2014
We have audited the accompanying financial statements of WOODSVILLA
LIMITED, which comprise the Balance Sheet as at March 31, 2014, and 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 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 Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). 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.
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 misstatement.
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 Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. 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.
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements read with
significant accounting policies and notes thereon, 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:
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.
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 have been
kept by the Company so far as appears 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, 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;
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.
f) Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the Company.
The Annexure referred to in paragraph 1 of the Our Report of even date
to the members of WOODSVILLA LIMITED on the accounts of the company for
the year ended 31st March, 2014.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
(i) (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The management has carried out physical verification of its Fixed
Assets during the year and no discrepancies have been noticed in
respect thereof.
(c) There was no substantial disposal of fixed assets during the year.
(ii) (a) According to the information and explanations given to us, the
stock of securities and inventories at the Resort have been physically
verified by the management at regular intervals during the year.
(b) In our opinion and according to explanations given to us, the
procedure of physical verification of stock of securities and
inventories at Resort followed by the management is reasonable and
adequate in relation to the size of the Company and nature of its
business.
(c) The Company is maintaining proper and adequate records of
inventories and no discrepancy was noticed between the physical stock
of securities and book records.
(iii) (a) The Company has not granted any loans, secured or unsecured,
to companies, firms or other parties listed in the register maintained
u/s 301 of the Companies Act, 1956.
(b) The Company has taken unsecured loans from two of its directors.
The amount of loans outstanding as at March 31, 2014 was Rs. 7.82 lacs.
The terms and conditions of the loans taken are not prejudicial to the
interests of the Company.
(iv) In our opinion and according to information and explanations given
to us, there are adequate internal control procedures commensurate with
the size of the Company and the nature of its business with regard to
purchase of shares, plant and machinery, equipment and other assets and
sale of shares and assets. During the course of our audit, no major
weakness has been noticed in the internal controls in respect of these
areas.
(v) (a) According to the information and explanations provided by the
management, we are of the opinion that the transactions that need to be
entered into the register maintained under section 301 of the Companies
Act, 1956 have been so entered.
(b) In our opinion and according to explanations given to us, the
transactions with parties with whom transactions exceeding value of
rupees five lacs have been entered into during the financial year are
at prices which are reasonable having regard to the prevailing market
prices at the relevant time.
(vi) The Company has not accepted any deposits from the public.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) To the best of our knowledge and as explained, the Central
Government has not prescribed maintenance of cost records under clause
(d) of subsection (1) of section 209 of the Companies Act, 1956.
(ix) (a) The Company is regular in depositing with appropriate
authorities undisputed statutory dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed statutory dues were outstanding, at the year end, for a
period of more than six months from the date they became payable.
(c) According to the information and explanations given to us, there
are no statutory dues, which have not been deposited on account of any
dispute.
(x) The Company has no accumulated losses at the end of the financial
year and it has not incurred cash losses in the current and immediately
preceding financial year.
(xi) Based on our audit procedures and as per the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to financial
institutions, banks or debenture holders.
(xii) According to the information and explanations given to us and
based on documents and records produced to us, the Company has not
granted loans or advances on the basis of security by way of pledge of
shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi/mutual
benefit fund/society. Therefore, the provisions of clause 4(xiii) of
the Companies (Auditors'' Report) Order, 2003 are not applicable to the
Company.
(xiv) In respect of dealing/trading in shares, securities, debentures
and other investments, in our opinion and according to the information
and explanations given to us, proper records have been maintained of
the transactions and contracts and timely entries have been made
therein. The shares, securities have been held by the Company in its
own name except where they have been sent for transfer.
(xv) According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) Based on information and explanations given to us by the
management, no term loans were obtained by the Company.
(xvii) According to the information and explanations given to us and on
an overall examination of the Balance Sheet and Cash Flow statement of
the Company, we report that no funds raised on short term basis have
been used for long term investment and no long term funds have been
used to finance short term assets (excluding permanent working
capital).
(xviii) The Company has not made any preferential allotment of shares
to parties or companies covered in the register maintained under
section 301 of the Companies Act, 1956.
(xix) The Company did not have any outstanding debentures during the
year.
(xx) The Company has not raised any monies from public issues during
the year.
(xxi) Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statements and as per
the information and explanations given by the management, we report
that no fraud on or by the Company has been noticed or reported during
the course of our audit.
AUDITORS'' REPORT TO THE BOARD OF DIRECTORS OF WOODSVILLA LIMITED
1. We have audited the accompanying Statement of Financial Results
("the Statement") of WOODSVILLA LIMITED ("the Company") for the year
ended 31st March, 2014, being submitted by the Company pursuant to
Clause 41 of the Listing Agreement with the Stock Exchanges except for
the disclosures regarding ''Public Shareholding'' and ''Promoter and
Promoter Group Shareholding'' which have been traced from disclosures
made by the management and have not been audited by us. This Statement
has been prepared by the Company on the basis of related annual
financial statements, which are the responsibility of the Company''s
Management and have been approved by the Board of Directors. Our
responsibility is to express an opinion on the Statement, based on our
audit of the related annual financial statements, which have been
prepared in accordance with the Accounting Standards notified under the
Companies (Accounting Standards) Rules, 2006 and other accounting
principles generally accepted in India.
2. We conducted our audit of the Statement in accordance with the
auditing standards generally accepted in India. Those Standards require
that we plan and perform the audit to obtain reasonable assurance about
whether the Statement is free of material misstatements. An audit
includes examining, on a test basis, evidence supporting the amounts
and the disclosures in the Statement. An audit also includes assessing
the accounting principles used and significant estimates made by the
Management, as well as evaluating the overall Statement presentation.
We believe that our audit provides a reasonable basis for our opinion.
3. In our opinion and to the best of our information and according to
the explanations given to us, the Statement:-
(i) is presented in accordance with the requirements of Clause 41 of
the Listing Agreements with the Stock Exchange and
(ii) gives a true and fair view of the net profit and other financial
information of the quarter ended 31st March'' 2014 as well as year to
date results for the period from 1st April'' 2013 to 31st March, 2014.
4. Further, we also report that we have, on the basis of the book of
account and other records and information and explanations given to us
by the management, also verified the number of the shares as well as
percentage of shareholding in respect of aggregate amount of public
shareholding, as furnished by the company in terms of clause 35 of the
listing agreement and found the same to be correct.
FOR MANV & ASSOCIATES
CHARTERED ACCOUNTANTS
FRN NO. 007351N
PLACE: NEW DELHI sd/-
DATE: May 30, 2014 (N K GUPTA)
PARTNER
MEMBERSHIP NO. 085713
Mar 31, 2013
We have audited the accompanying financial statements of WOODSVILLA
LIMITED, which comprise the Balance Sheet as at March 31, 2013, and 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 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 Standards referred to in sub-section (3C) of section 211
of the Companies Act, 1956 ("the Act"). 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.
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 misstatement.
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 Company''s preparation and
fair presentation of the financial statements in order to design audit
procedures that are appropriate in the circumstances. 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.
In our opinion and to the best of our information and according to the
explanations given to us, the financial statements read with
significant accounting policies and notes thereon, 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:
a) in the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2013;
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.
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 have been
kept by the Company so far as appears 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, 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;
e) on the basis of written representations received from the directors
as on March 31, 2013, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2013, from being
appointed as a director in terms of clause (g) of sub- section (1) of
section 274 of the Companies Act, 1956.
f) Since the Central Government has not issued any notification as to
the rate at which the cess is to be paid under section 441A of the
Companies Act, 1956 nor has it issued any Rules under the said section,
prescribing the manner in which such cess is to be paid, no cess is due
and payable by the Company.
The Annexure referred to in paragraph 1 of the Our Report of even date
to the members of WOODSVILLA LIMITED. on the accounts of the company
for the year ended 31st March, 2013.
On the basis of such checks as we considered appropriate and according
to the information and explanation given to us during the course of our
audit, we report that:
(i) (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The management has carried out physical verification of its Fixed
Assets during the year and no discrepancies have been noticed in
respect thereof.
(c) There was no substantial disposal of fixed assets during the year.
(ii) (a) According to the information and explanations given to us, the
stock of securities and inventories at the Resort have been physically
verified by the management at regular intervals during the year.
(b) In our opinion and according to explanations given to us, the
procedure of physical verification of stock of securities and
inventories at Resort followed by the management is reasonable and
adequate in relation to the size of the Company and nature of its
business.
(c) The Company is maintaining proper and adequate records of
inventories and no discrepancy was noticed between the physical stock
of securities and book records.
(iii) (a) The Company has not granted any loans, secured or unsecured,
to companies, firms or other parties listed in the register maintained
u/s 301 of the Companies Act, 1956.
(b) The Company has taken unsecured loans from four of its directors.
The amount of loans outstanding as at March 31, 2013 was Rs. 14.68
lacs. The terms and conditions of the loans taken are not prejudicial
to the interests of the Company.
(iv) In our opinion and according to information and explanations given
to us, there are adequate internal control procedures commensurate with
the size of the Company and the nature of its business with regard to
purchase of shares, plant and machinery, equipment and other assets and
sale of shares and assets. During the course of our audit, no major
weakness has been noticed in the internal controls in respect of these
areas.
(v) (a) According to the information and explanations provided by the
management, we are of the opinion that the transactions that need to be
entered into the register maintained under section 301 of the Companies
Act, 1956 have been so entered.
(b) In our opinion and according to explanations given to us, the
transactions with parties with whom transactions exceeding value of
rupees five lacs have been entered into during the financial year are
at prices which are reasonable having regard to the prevailing market
prices at the relevant time.
(vi) The Company has not accepted any deposits from the public.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) To the best of our knowledge and as explained, the Central
Government has not prescribed maintenance of cost records under clause
(d) of subsection (1) of section 209 of the Companies Act, 1956.
(ix) (a) The Company is regular in depositing with appropriate
authorities undisputed statutory dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed statutory dues were outstanding, at the year end, for a
period of more than six months from the date they became payable.
(c) According to the information and explanations given to us, there
are no statutory dues, which have not been deposited on account of any
dispute.
(x) The Company has no accumulated losses at the end of the financial
year and it has not incurred cash losses in the current and immediately
preceding financial year.
(xi) Based on our audit procedures and as per the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to financial
institutions, banks or debenture holders.
(xii) According to the information and explanations given to us and
based on documents and records produced to us, the Company has not
granted loans or advances on the basis of security by way of pledge of
shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi /
mutual benefit fund/society. Therefore, the provisions of clause
4(xiii) of the Companies (Auditors'' Report) Order, 2003 are not
applicable to the Company.
(xiv) In respect of dealing /trading in shares, securities, debentures
and other investments, in our opinion and according to the information
and explanations given to us, proper records have been maintained of
the transactions and contracts and timely entries have been made
therein. The shares, securities have been held by the Company in its
own name except where they have been sent for transfer.
(xv) According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) Based on information and explanations given to us by the
management, no term loans were obtained by the Company.
(xvii) According to the information and explanations given to us and on
an overall examination of the Balance Sheet and Cash Flow statement of
the Company, we report that no funds raised on short term basis have
been used for long term investment and no long term funds have been
used to finance short term assets (excluding permanent working capital)
(xviii) The Company has not made any preferential allotment of shares
to parties or companies covered in the register maintained under
section 301 of the Companies Act, 1956
(xix) The Company did not have any outstanding debentures during the
year.
(xx) The Company has not raised any monies from public issues during
the year.
(xxi) Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statements and as per
the information and explanations given by the management, we report
that no fraud on or by the Company has been noticed or reported during
the course of our audit..
FOR MANV & ASSOCIATES
CHARTERED ACCOUNTANTS
FRN NO. 007351N
PLACE: NEW DELHI
DATE: MAY 28, 2013
(N K GUPTA)
PARTNER
MEMBERSHIP NO. 085713
Mar 31, 2011
We have audited the attached Balance Sheet of Wood villa Limited as at
March 31, 2011 and also the Profit and Loss Account and the cash flow
statement for the year ended on that date annexed thereto. These
financial statements are the responsibility of the Company's
management. Our responsibility is to express an opinion on these
financial statements based on our audit.
1. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by the management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
2. As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government of India in terms of subsection (4A) of
section 227 of the Companies Act, 1956, we enclose in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the said
Order.
3. Further to our comments in the Annexure referred to in paragraph 2
above, 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
the audit.
(b) In our opinion, proper books of account as required by law, have
been kept by the Company, so far as appears from our examination of
those books.
(c) The balance sheet, profit and loss account and cash flow statement
dealt with by this report are in agreement with the books of account.
(d) In our opinion, the balance sheet, profit and loss account and cash
flow statement dealt with by this report comply with the accounting
standards referred to in subsection (3C) of section 211 of the
Companies Act, 1956.
(e) On the basis of written representations received from the
Directors, as on March 31, 2011 and taken on record by the Board of
Directors, we report that none of the Directors is disqualified as on
March 31,2011 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
explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
(i) In the case of the Balance Sheet, of the state of affairs of the
Company as at March 31,2011
(ii) In the case of Profit and Loss Account, of the profit for the year
ended on that date, and,
(iii) In the case of the cash flows statement of the cash flows for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 2 OF THE AUDITORS'REPORT TO THE
MEMBERS OF WOODSVILLA LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED MARCH
31,2011
(i) (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The management has carried out physical verification of its Fixed
Assets during the year and no discrepancies have been noticed in
respect thereof.
(c) There was no substantial disposal of fixed assets during the year.
(ii) (a) According to the information and explanations given to us, the
stock of securities and inventories at the Resort have been physically
verified by the management at regular intervals during the year.
(b) In our opinion and according to explanations given to us, the
procedure of physical verification of stock of securities and
inventories at Resort followed by the management is reasonable and
adequate in relation to the size of the Company and nature of its
business.
(c) The Company is maintaining proper and adequate records of
inventories and no discrepancy was noticed between the physical stock
of securities and book records.
(iii) (a) The Company has not granted any loans, secured or unsecured,
to companies, firms or other parties listed in the register maintained
u/s 301 of the Companies Act, 1956. (b) The Company has taken
unsecured loans from four of its directors. The amount of loans
outstanding as at March 31, 2011 was Rs.24.49 lacs. The terms and
conditions of the loans taken are not prejudicial to the interests of
the Company.
(iv) In our opinion and according to information and explanations given
to us, there are adequate internal control procedures commensurate with
the size of the Company and the nature of its business with regard to
purchase of shares, plant and machinery, equipment and other assets and
sale of shares and assets. During the course of our audit, no major
weakness has been noticed in the internal controls in respect of these
areas.
(v) (a) According to the information and explanations provided by the
management, we are of the opinion that the transactions that need to be
entered into the register maintained under section 301 of the Companies
Act, 1956 have been so entered.
(b) In our opinion and according to explanations given to us, the
transactions with parties with whom transactions exceeding value of
rupees five lacs have been entered into during the financial year are
at prices which are reasonable having regard to the prevailing market
prices at the relevant time.
(vi) The Company has not accepted any deposits from the public.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) To the best of our knowledge and as explained, the Central
Government has not prescribed maintenance of cost records under clause
(d) of subsection (1) of section 209 of the Companies Act, 1956.
(ix) (a) The Company is regular in depositing with appropriate
authorities undisputed statutory dues applicable to it. (b) According
to the information and explanations given to us, no undisputed
statutory dues were outstanding, at the year end, for a period of more
than six months from the date they became payable.
(c) According to the information and explanations given to us, there
are no statutory dues, which have not been deposited on account of any
dispute.
(x) The Company has no accumulated losses at the end of the financial
year and it has not incurred cash losses in the current and immediately
proceeding financial year.
(xi) Based on our audit procedures and as per the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to financial
institutions, banks or debenture holders.
(xii) According to the information and explanations given to us and
based on documents and records produced to us, the Company has not
granted loans or advances on the basis of security by way of pledge of
shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi /
mutual benefit fund/society. Therefore, the provisions of clause
4(xiii) of the Companies (Auditors' Report) Order, 2003 are not
applicable to the Company.
(xiv) In respect of dealing /trading in shares, securities, debentures
and other investments, in our opinion and according to the information
and explanations given to us, proper records have been maintained of
the transactions and contracts and timely entries have been made
therein. The shares, securities have been held by the Company in its
own name except where they have been sent for transfer.
(xv) According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) Based on information and explanations given to us by the
management, no term loans were obtained by the Company.
(xvii) According to the information and explanations given to us and on
an overall examination of the Balance Sheet and Cash Flow statement of
the Company, we report that no funds raised on short term basis have
been used for long term investment and no long term funds have been
used to finance short term assets (excluding permanent working capital)
(xviii) The Company has not made any preferential allotment of shares
to parties or companies covered in the register maintained under
section 301 of the Companies Act, 1956
(xix) The Company did not have any outstanding debentures during the
year.
(xx) The Company has not raised any monies from public issues during
the year.
(xxi) Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statements and as per
the information and explanations given by the management, we report
that no fraud on or by the Company has been noticed or reported during
the course of our audit.
VIPIN MALIK
PROPRIETOR
For V.MALIK AND ASSOCIATES
CHARTERED ACCOUNTANTS
MEMBERSHIP NO. 80468
FRN: 000155N
PLACE: New Delhi
DATE: September 2,2011
Mar 31, 2010
We have audited the attached Balance Sheet of Woodsvilla Limited
(formerly Costplus Credit Capital Limited), as at March 31, 2010 and
also the Profit and Loss Account and the cash flow statement for the
year ended on that date annexed thereto. These financial statements are
the responsibility of the Companys management. Our responsibility is
to express an opinion on these financial statements based on our audit.
1. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material mis-statement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by the management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
2. As required by the Companies (Auditors Report) Order, 2003 issued
by the Central Government of India in terms of subsection (4A) of
section 227 of the Companies Act, 1956, we enclose in the Annexure a
statement on the matters specified in paragraphs 4 and 5 of the said
Order.
3. Further to our comments in the Annexure referred to in paragraph 2
above, 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 the
audit.
(b) In our opinion, proper books of account as required by law, have
been kept by the Company, so far as appears from our examination of
those books .
(c) The balance sheet, profit and loss account and cash flow statement
dealt with by this report are in agreement with the books of account.
(d) In our opinion, the balance sheet, profit and loss account and cash
flow statement dealt with by this report comply with the accounting
standards referred to in subsection (3C) of section 211 of the
Companies Act, 1956.
(e) On the basis of written representations received from the
Directors, as on March 31, 2010 and taken on record by the Board of
Directors, we report that none of the Directors is disqualified as on
March 31,2010 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
explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
(i) In the case of the Balance Sheet, of the state of affairs of the
Company as at March 31,2010
(ii) In the case of Profit and Loss Account, of the profit for the year
ended on that date, and,
(iii) In the case of the cash flow statement. of the cash flows for the
year ended on that date.
ANNEXURE REFERRED TO IN PARAGRAPH 2 OF THE AUDITORSREPORT TO THE
MEMBERS OF WOODSVILLA LIMITED ON THE ACCOUNTS FOR THE YEAR ENDED MARCH
31, 2010
(i) (a) The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) The management has carried out physical verification of its Fixed
Assets during the year and no discrepancies have been noticed in
respect thereof.
(c) There was no substantial disposal of fixed assets during the year.
(ii) (a) According to the information and explanations given to us, the
stock of securities and inventories at the Resort have been physically
verified by the management at regular intervals during the year.
(b) In our opinion and according to explanations given to us, the
procedure of physical verification of stock of securities and
inventories at Resort followed by the management is reasonable and
adequate in relation to the size of the Company and nature of its
business.
(c) The Company is maintaining proper and adequate records of
inventories and no discrepancy was noticed between the physical stock
of securities and book records.
(iii) (a) The Company has not granted any loans, secured or unsecured,
to companies, firms or other parties listed in the register maintained
u/s 301 of the Companies Act, 1956.
(b) The Company has taken unsecured loans from four of its directors.
The amount of loans outstanding as at March 31, 2010 was Rs. 26.88
lacs. The terms and conditions of the loans taken are not prejudicial
to the interests of the Company.
(iv) In our opinion and according to information and explanations given
to us, there are adequate internal control procedures commensurate with
the size of the Company and the nature of its business with regard to
purchase of shares, plant and machinery, equipment and other assets and
sale of shares and assets. During the course of our audit, no major
weakness has been noticed in the internal controls in respect of these
areas.
(v) (a) According to the information and explanations provided by the
management, we are of the opinion that the transactions that need to be
entered into the register maintained under section 301 of the Companies
Act, 1956 have been so entered.
(b) In our opinion and according to explanations given to us, the
transactions with parties with whom transactions exceeding value of
rupees five lacs have been entered into during the financial year are
at prices which are reasonable having regard to the prevailing market
prices at the relevant time.
(vi) The Company has not accepted any deposits from the public.
(vii) In our opinion, the Company has an internal audit system
commensurate with the size and nature of its business.
(viii) To the best of our knowledge and as explained, the Central
Government has not prescribed maintenance of cost records under clause
(d) of subsection (1) of section 209 of the Companies Act, 1956.
(ix) (a) The Company is regular in depositing with appropriate
authorities undisputed statutory dues applicable to it.
(b) According to the information and explanations given to us, no
undisputed statutory dues were outstanding, at the year end, for a
period of more than six months from the date they became payable.
(c) According to the information and explanations given to us, there
are no statutory dues which have not been deposited on account of any
dispute.
(x) The Company has no accumulated losses at the end of the financial
year and it has not incurred cash losses in the current and immediately
proceeding financial year.
(xi) Based on our audit procedures and as per the information and
explanations given by the management, we are of the opinion that the
Company has not defaulted in repayment of dues to financial
institutions, banks or debenture holders.
(xii) According to the information and explanations given to us and
based on documents and records produced to us, the Company has not
granted loans or advances on the basis of security by way of pledge of
shares, debentures and other securities.
(xiii) In our opinion, the Company is not a chit fund or a nidhi /
mutual benefit fund/society. Therefore, the provisions of clause
4(xiii) of the Companies (Auditors Report) Order, 2003 are not
applicable to the Company.
(xiv) In respect of dealing /trading in shares, securities, debentures
and other investments, in our opinion and according to the information
and explanations given to us, proper records have been maintained of
the transactions and contracts and timely entries have been made
therein. The shares, securities have been held by the Company in its
own name except where they have been sent for transfer.
(xv) According to the information and explanations given to us, the
Company has not given any guarantee for loans taken by others from bank
or financial institutions.
(xvi) Based on information and explanations given to us by the
management, no term loans were obtained by the Company.
(xvii) According to the information and explanations given to us and on
an overall examination of the Balance Sheet and Cash Flow statement of
the Company, we report that no funds raised on short term basis have
been used for long term investment and no long term funds have been
used to finance short term assets (excluding permanent working capital)
(xviii) The Company has not made any preferential allotment of shares
to parties or companies covered in the register maintained under
section 301 of the Companies Act, 1956
(xix) The Company did not have any outstanding debentures during the
year.
(xx) The Company has not raised any monies from public issues during
the year.
(xxi) Based upon the audit procedures performed for the purpose of
reporting the true and fair view of the financial statements and as per
the information and explanations given by the management, we report
that no fraud on or by the Company has been noticed or reported during
the course of our audit
for KUDSIA AND ASSOCIATES
CHARTERED ACCOUNTANTS
Registration No. 009771N
PLACE : NEW DELHI SAMEER KUDSIA
DATE : AUGUST 18, 2010 (PARTNER)
Membership No. 087957
Mar 31, 2009
We have audited the attached Balance Sheet of Costplus Credit Capital
Limited, as at March 31. 2009 and also the Profit and Loss Account and
the cash flow statement for the year ended on that date annexed
thereto. These financial statements are the responsibility of the
Companys management. Our responsibility is to express an opinion on
these financial statements based on our audit.
1. We conducted our audit in accordance with auditing standards
generally accepted in India. Those Standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material mis-statement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made
by the management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable
basis for our opinion.
2 As required by the Companies (Auditors Report) Order, 2003 issued by
the Central Government of India in terms of subsection (4A) of section
227 of the Companies Act, 1956, we enclose in the Annexure a statement
on the matters specified in paragraphs 4 and 5 of the said Order.
3. Further to our comments in the Annexure referred to in paragraph 2
above, 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 the
audit.
(b) In our opinion, proper books of account as required by law, have
been kept by the Company, so far as appears from our examination of
those books .
(c) The balance sheet, profit and loss account and cash flow statement
dealt with by this report are in agreement with the books of account.
(d) In our opinion, the balance sheet, profit and loss account and cash
flow statement dealt with by this report comply with the accounting
standards referred to in subsection (3C) of section 211 of the
Companies Act, 1956.
(e) On the basis of written representations received from the
Directors, as on March 31, 2009 and taken on record by the Board of
Directors, we report that none of the Directors is disqualified as on
March 31,2009 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
explanations given to us, the said accounts give the information
required by the Companies Act, 1956, in the manner so required and give
a true and fair view in conformity with the accounting principles
generally accepted in India:
(i) In the case of the Balance Sheet, of the state of affairs of the
Company as at March 31,2009
(ii) In the case of Profit and Loss Account, of the profit for the year
ended on that date, and.
(iii) In the case of the cash flow statement, of the cash flows for the
year ended on that date.
Annexure to the Auditor Report
(i)(a)The Company is maintaining proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b)The management has carried out physical verification of its Fixed
Assets during the year and no discrepancies have been noticed in
respect thereof.
(c)There was no substantial disposal of fixed assets during the year.
(ii)(a)According to the informations and explanations given to us,the
stock of securities and inventories at the Resort have been physically
verified by the management at regular intervals during the year.
(b)In our opinion and according to explanations given to us,the
procedure of physical verification of stock of securities and
inventories at Resort followed by the management is reasonable and
adequate in relation to the size of the Company and nature of its
business.
(c)The Company is maintaining proper and adequate records of
inventories and no discrepancy was noticed between the physical stock
of securities and book records.
(iii)(a)The Company has not granted any loans,secured or unsecured,to
companies,firms or other parties listed in the register maintained u/s
301 ef the Companies Act,1956. (b)The Company has taken unsecured
loans from four of its directors.The amount of loans outstanding as at
March 31,2009 was Rs.39.82 lacs.The terms and conditions of the loans
taken are not prejudicial to the interests of the Company.
(iv)In our opinion and according to information and explanations given
to us,there are adequate internal control procedures commensurate with
the size of the Company and the nature of its business with regard to
purchase of shares,plant and machinery,equipment and other assets and
sale of shares and assets.During the course of our audit,no major
weakness has been noticed in the internal controls in respect of these
areas.
(v)(a)According to the information and explanations provided by the
management,we are of the opinion that the transactions that need to be
entered into the register maintained under section 301 of the Companies
Act,1956 have been so entered.
(b)In our opinion and according to explanations given to us,the
transactions with parties with whom transactions exceeding value of
rupees five lacs have been entered into during the financial year are
at prices which are reasonable having regard to the prevailing market
prices at the relevant time.
(vi)The Company has not accepted any deposits from the public.
(vii)In our opinion,the Company has an internal audit system
commensurate with the size and nature of its business.
(viii)To the best of our knowledge and as explained,the Central
Government has not prescribed maintenance of cost records under clause
(d)of subsection (1)of section 209 of the Companies Act,1956.
(ix)(a)The Company is regular in depositing with appropriate
authorities undisputed statutory dues applicable to it.
(b)According to the information and explanations given to us,no
undisputed statutory dues were outstanding,at the year end.for a period
of more than six months from the date they became payable.
(c)According to the information and explanations given to us,there are
no statutory dues which have not been deposited
for KUDSIA AND ASSOCIATES
CHARTERED ACCOUNTANTS
SAMEER KUDSIA
PLACE: NEWDELHI (PARTNER)
DATE: SEPTEMBER 2, 2009 MEMBERSHIP NO. 087957
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