Mar 31, 2015
Report on the Financial Statements
We have audited the accompanying financial statements of Total
Hospitality Limited ("the Company"), which comprise the Balance Sheet
as at March 31, 2015 and the Statement of Profit and Loss for the year
then ended and the Cash Flow Statement and a summary of significant
accounting policies and other explanatory information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated
in Section 134(5) of the Companies Act, 2013 ("the Act") with respect
to the preparation of these standalone 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 the Accounting Standards
specified under Section 133 of the Act, read with Rule 7 of the
Companies (Accounts) Rules, 2014.]
This responsibility also includes maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding
of the assets of the Company and for preventing and detecting frauds
and other irregularities ;selection and application of appropriate
accounting policies ; making judgments and estimates that are
reasonable and prudent; and design, implementation and maintenance of
adequate internal financial controls, that were operating effectively
for ensuring the accuracy and completeness of the accounting records,
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.
Auditor's 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 Company'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:
(a) In the case of the Balance Sheet, of the state of affairs of the
Company as at March 31, 2015;
(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 Cash Flow Statement, of the cash flows for the year
ended on that date.
Report on Other Legal and Regulatory Requirements
1. 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 and the 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 aforesaid financial statements comply with the
Accounting Standards specified under Section 133 of the Act, read with
Rule 7 of the Companies (Accounts) Rule, 2014.;
e. on the basis of written representations received from the directors
as on March 31, 2015, and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2015, from being
appointed as a director in terms of Section 164(2) of the Companies
Act, 2013.
f. With respect to the other matters to be included in the Auditor's
report in accordance with Rule 11 of the Companies(Audit and Auditors)
Rules, 2014, in our opinion and 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 financial position.
II. The Company did not have any long-term contracts including
derivative contracts for which there were any material foreseeable
losses.
III. There has been no delay in transferring amounts, required to be
transferred, to the Investor Education and Protection Fund by the
Company.
To
The Members of TOTAL HOSPITALITY LIMITED
1. In respect of its Fixed Assets
The Company does not have any Fixed Assets during the financial Year.
2. In respect of its inventories
The Company does not have any Stock of Inventories during the Financial
Year.
3. In respect of its Loan- Secured or Unsecured
a) Based on our scrutiny and as per information and explanations
provided to us by the management, the company has not granted any loans
to firm or other persons covered in the registers maintained under
Section 301 of the Companies Act, 1956.
b) Since the aforesaid loans are repayable on demand without any
defined re-payment schedule, Therefore, we have no comments to offer
regarding regularity re-payment of the said oloan or otherwise. In view
of herewith, we have no comments to offer under sub-clause b) tothis
clause.
4. In our opinion and according to the information and explanation
given to us, there are adequate internal control procedures
commensurate with the size of the Company and its nature of business
with regard to the purchases, fixed assets and sales. During our course
of audit, no major weakness was noticed by us in the existing internal
control system in vogue.
5. According to the Information and Explanation given to us, the
Company has not accepted any deposit from the public. Therefore, the
provisions of Clause(v) of paragraph 3 of the CARO 2015are not
applicable to the Company.
6. We have been informed by the management that the maintenance of
cost records has not been prescribed by the Central govt. under Section
(1) of Section 148 of the Companies Act, 2013.
7. In respect of its Statutory Dues
a) According to the books and records as produced and examined by us in
accordance with Generally Accepted Auditing Practices in India and also
based on management representations, undisputed statutory dues in
respect of provident fund, employee state insurance, income tax, wealth
tax, service tax, sales tax, value added tax, excise duty, cess and
other material statutory dues have generally been regularly deposited
by the company subject to certain exceptions during the year with the
appropriate authorities in India.
b) According to information and explanation given to us, no undisputed
amounts payable in respect of income tax, service tax and excise duty
were outstanding as on 31st March, 2015 for a period more than six
months from the date the same became payable.
c) According to the records of the Company, there are no amounts that
are due to be transferred to the Investor Education and Protection Fund
in accordance with relevant provisions of the Companies Act, 1956(1 of
1956) and rules made there under.
8. The Company does not have accumulated losses, hence our comments as
regards erosion of net worth of the Company are not applicable.
9. As observed by us 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 its financial institution or bank or
others during the year under audit.
10. As per the information and explanation given to us, the Company
has not given any guarantee for loans taken by others from any bank or
financial institutions. Hence, reporting on terms and conditions of any
such guarantee is irrelevant to our reporting.
11. As observed by us, the Company has not raised any Loans including
Term Loans from Banks during the Financial Year.
12. Based upon the audit procedures performed and information and
explanations given by the management, we report that no fraud on or by
the Company has been noticed or reported during the year under audit
and even upto the date of our audit.
For GAUR JAIN & Co.
Chartered Accountants
Sd/-
ANKIT JAIN- FCA
Firm Reg No. 022957N
Partner
Place:Panchkula Membership No. 509416
Date :03.08.2015 Chartered Accountant
Mar 31, 2014
We have audited the accompanying financial statements of Total
Hospitality Limited ("the Company"), which comprise the Balance
Sheet as at March 31, 2014 and the Statement of Profit and Loss for
the year then ended and the Cash Flow Statement 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 Section 211(3C) of the Companies
Act, 1956 ("the Act") Accounting Standards notified under the
CompaniesAct,1956 ("the Act") read with the General Circular
15/2013 dated 13th 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.
Auditor''s 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
Company''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:
(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 Cash Flow Statement, of the cash flows for the year
ended on that date.
Report on Other Legal and Regulatory Requirements
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 and the Statement of Profit and Loss 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 the Cash Flow Statement comply with the Accounting Standards
referred to in subsection (3C) of section 211 of the Companies Act,
1956 notified under 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.;
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 the Independent Auditor''s Report
(Referred to in paragraph 1 under ''Report on Other Legal and
Regulatory Requirements'' section of our report of even date)
I. Having regard to the nature of the company''s business/ activities
during the year, clause (xiii) of paragraph 4 of the order is not
applicable to the company.
II. Company has no fixed assets, hence this clause of the order is not
applicable.
III. No inventory is held by the company, hence this clause of the
order is not applicable.
IV. According to the information and explanations given to us and on
the basis of our examination of the books of account, the Company has
not granted/taken any loans, secured or unsecured, to companies, firms
or other parties listed in the register maintained under Section 301
of the Companies Act, 1956.Consequently, the provisions of clauses iii
(b), iii(c), iii (d), iii(e) and iii(f) of the order are not
applicable to the Company.
V. In our opinion and according to the information and explanations
given to us, there is generally an adequate internal control procedure
commensurate with the size of the company and the nature of its
business, for the purchase of inventories & fixed assets and payment
for expenses & for sale of goods. During the course of our audit, no
major instance of continuing failure to correct any weaknesses in the
internal controls has been noticed.
VI. According to the information and explanations given to us, there
are no contracts or arrangements referred to in section 301 of the
Companies Act, 1956 that need to be entered in the register required
to be maintained under that section. Accordingly, Clause (VI) of the
Order is not applicable to the Company.
VII. The Company has not accepted any deposits from the public covered
under section 58A and 58AA of the Companies Act, 1956.
VIII. As per information & explanations given by the management, the
Company has an internal audit system commensurate with its size and
the nature of its business.
IX. As per information & explanation given by the management,
maintenance of cost records has not been prescribed by the Central
Government under clause (d) of sub-section (1) of section 209 of the
Act for the activities carried on by the company.
X.
(a) 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, Custom Duty, Excise Duty, cess to the extent applicable
and any other statutory dues have generally been regularly deposited
with the appropriate authorities. According to the information and
explanations given to us there were no outstanding statutory dues as
on 31st March, 2014 for a period of more than six months from the date
they became payable.
(b) According to the information and explanations given to us, there
is no amounts payable in respect of income tax, wealth tax, service
tax, sales tax, customs duty and excise duty which have not been
deposited on account of any disputes.
XI. The Company has accumulated losses and has incurred cash loss
during the financial year covered by our audit and in the immediately
preceding financial year.
XII. Based on our audit procedures and on the information and
explanations given by the management, we are of the opinion that, the
Company has not defaulted in repayment of dues to a financial
institution, bank or debenture holders.
XIII. According to the information and explanations given to us, the
Company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures and other securities.
XIV. According to information and explanations given to us, the
Company is not trading in Shares, Mutual funds & other Investments.
Proper records & timely entries have been maintained in this regard
&further investments specified are held in their own name.
XV. According to the information and explanations given to us, the
Company has not given any guarantees for loan taken by others from a
bank or financial institution. XVI. Based on our audit procedures and
on the information given by the management, we report that the company
has not raised any term loans during the year.
XVII. Based on the information and explanations given to us and on an
overall examination of the Balance Sheet of the Company as at 31st
March, 2014, we report that no funds raised on short-term basis have
been used for long-term investment by the Company.
XVIII. Based on the audit procedures performed and the information
and explanations given to us by the management, we report that the
Company has not made preferential allotment of equity shares during
the year and the price at which shares have been issued are not
prejudicial to the interest of the company.
XIX. The Company has no outstanding debentures during the period under
audit.
XX. The Company has not raised any money by public issue during the
year.
XXI. Based on the audit procedures performed and the information and
explanations given to us, we report that no fraud on or by the Company
has been noticed or reported during the year, nor have we been
informed of such case by the management.
Chartered Accountants
Sd/-
Rimpy Bansal
Partner
Place : Gurgaon Membership No. 508503
Date : 30th May, 2014 Chartered Accountant
Mar 31, 2012
1. We have audited the attached Balance Sheet of TOTAL HOSPITALITY
LIMITED as at 31.03.2012, the Profit & Loss Account for the year ended
on that date annexed thereto and the cash flow statement for the period
ended on that date.. These financial statements are the responsibility
of the CompanyÃs management. Our responsibility is to express an
opinion on these financial statements based on our audit.
2. 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 management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for
our opinion.
3. As required by the Companies (AuditorÃs Report) Order 2003 (as
amended) issued by the Company Law Board in terms of section 227(4A) of
the Companies Act, 1956, we enclose in the Annexure a statement on the
matters specified in paragraph 4 and 5 of the said Order.
4. Further to our comments in the Annexure referred to 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 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 such
books.
c. The Balance Sheet, Profit & Loss Account and Cash flow Statement
referred to in this report are in agreement with the books of account.
d. In our opinion and to the best of our information and according to
the explanations given to us, the said Balance Sheet, the Profit & Loss
account and cash flow statement read together with the notes thereon
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 Balance Sheet, of the state of affairs of the company
as at 31.03.2012, and
ii) in the case of Profit and loss Account, of the profit of the
company for the year ended on that date.
iii) in the case of Cash Flow statement, of the cash flows of the
company for the year ended on that date.
e. In our opinion and to the best of our knowledge, the Balance Sheet
and the Profit and Loss Account comply with the accounting standards
referred to in sub-section (3C) of section 211 of The Companies Act,
1956.
ANNEXURE TO THE AUDITORÃS REPORT
Referred to in paragraph 3 of our report of even date
(i) (a) The company has maintained proper records showing full
particulars including quantitative details and situation of fixed
assets.
(b) All the assets have been physically verified by the Management
during the year. No material discrepancies were noticed on such
verification.
(c) In our opinion, disposal of fixed assets do not constitute
substantial part of fixed assets of the company and such disposal has
in our opinion, not affected the going concern status of the company.
(ii) (a) The inventory has been physically verified during the year by
the management. In our opinion, the frequency of verification is
reasonable.
(b) The procedures of physical verification of inventories followed by
the management are reasonable and adequate in relation to the size of
the company and the nature of its business.
(c) The company is maintaining proper records of inventory. The
discrepancies noticed on verification between the physical stocks and
the book records were not material.
(iii) The company had not taken any loan from other companies covered
in the register required to be maintained under section 301 of the
Companies Act, 1956.
(iv) In our opinion and according to the information and explanations
given to us, there are adequate internal control system commensurate
with the size of the company and the nature of its business with regard
to purchases of inventory, fixed assets and with regard to the sale of
goods & services. During the course of our audit, we have not observed
any continuing failure to correct major weaknesses in internal
controls.
(v) Since the company has not either granted or taken any loans,
secured or unsecured to/from companies, firms or other parties covered
in the register maintained under section 301of the Act, therefore no
register as required by section 301 is maintained.
(vi) The company has not accepted any deposits from the public during
the year
(vii) In our opinion, the company has an internal audit system
commensurate with the size and nature of its business.
(viii) The maintenance of the cost records have not been prescribed by
the Central Government under section 209(1) (d) of the Companies Act,
1956 for the activities carried on by the company.
(ix) (a) The company is regular in depositing with appropriate
authorities undisputed statutory dues including provident fund,
investor education protection fund, employeeÃs state insurance, income
tax, wealth tax, custom duty, excise duty cess and other material
statutory dues applicable to it. No undisputed amounts payable in
respect of income tax, wealth tax, service tax, customs duty, excise
duty and cess were in arrears as at 31st March 2012 for a period of
more that six months from the date they become payable.
(b ) According to the information and explanations given to us, there
are no dues of sales tax, income tax, customs duty, wealth tax, service
tax, excise duty and cess which have not been deposited on account of
any dispute.
(x) In our opinion, the company has no accumulated loses. Further, the
company has not incurred cash losses during the financial year covered
by our audit and the immediately preceding financial year.
(xi) In our opinion and according to the information and explanations
given to us, the company has not defaulted in repayment of dues to a
financial institution, bank or debenture holders.
(xii) According to the information and explanation given to us the
company has not granted loans and advances on the basis of security by
way of pledge of shares, debentures.
(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 (AuditorÃs Report) Order, 2003 are not applicable to the
company.
(xiv) In our opinion, the company is not dealing in or trading in
shares, securities, debentures and other investments. Accordingly, the
provisions of clause 4(xiv) of the Companies (AuditorÃs Report) Order,
2003 are not applicable to the company.
(xv) According to the information and explanations given to us, the
company has not given any guarantee for loans taken by others from
banks or financial institutions.
(xvi) According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that the no funds raised on short-term basis have been used for long-
term investment.
(xvii) According to the information and explanations given to us, the
company has not made any preferential allotment of shares to parties
and companies covered in the register maintained under section 301 of
the Act.
(xviii) According to the information and explanations given to us,
during the period covered by our audit report, the company has not
issued any debentures.
(xix) According to the information and explanations given to us, during
the period covered by our audit report, the company has not raised any
money by public issue.
(xx) According to the information and explanations given to us, no
fraud on or by the company has been noticed or reported during the
course of our audit.
For Rahul Kapoor & Associates
Chartered Accountants FRN 014372N
Sd/-
Place: New Delhi (Rahul Kapoor)
Date : 30.05.2012 FCA M.No à 83760