Mar 31, 2015
We have audited the accompanying financial statements of M/s Yogya
Enterprises Limited ('the Company), which comprises the Balance Sheet
as at 31st March, 2015 and the statement of Profit and Loss, Cash Flow
Statement of the company for the year ended 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 with respect to
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 Standards
referred in Section 133 of the Companies Act, 2013 ("the Act"), read
with Rule 7 of the Companies (Accounts) Rule, 2014. 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 fairview, safeguarding of the assets of
the company, selection and application of appropriate accounting
policies, making judgments and estimates that are reasonable and
prudent 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 specified under section 143(10), 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, 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 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 31st March 2015; and
b) In the case of statement of profit and loss, of the profit for the
year ended on that date.
c) In the case of the cash flow statement, of the cash flows for the
year ended on that date.
Emphasis of Matters
We draw attention to following matters in the notes to the financial
statements:
a) As certified by the management and relied upon by us in the matter
that no lawsuit filed against the company.
Report on Other Legal and Regulatory Requirements
1. We have not reported on internal financial control system as the
same has been deferred by Ministry of Corporate Affairs, Government of
India, Notification No. G.S.R 722(E) dated 14th October, 2014.
2. As required by the Companies (Auditor's Report) Order, 2015 issued
by the Central Government of India in terms of sub-section (11) of
section 143 of the Act, we give in the Annexure a statement on the
matters specified in paragraphs 3 and 4 of the Order.
3. As required by section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations
which to the 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
section 133 of the Act, read with Rule 7 of the Companies (Accounts)
Rules, 2014.
e) On the basis of written representations received from the directors
as on March 31st, 2015, taken on record by the Board of Directors, none
of the directors is disqualified as on March 31st 2015, from being
appointed as a director 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 Accounts)
Rules, 2014, in our opinion and to the best of our information and
according to the explanation given to us:
i) The Company does not have any pending litigation 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.
Annexure to the Auditors' Report
The Annexure referred to in our report to the members of Yogya
Enterprises Limited (the Company') for the year Ended on 31st March,
2015. We report that:
1. a) The Company has maintained proper records showing full
particulars, including quantitative details and situation of fixed
assets.
b) The fixed assets have been physically verified by the management
during the year and no material discrepancies were noticed on such
verification. In our opinion, the frequency of verification of the
fixed assets is reasonable having regard to the size of the Company and
the nature of its assets.
2. (a) The management has conducted physical verification of inventory
at reasonable intervals during the year.
(b) The procedures of physical verification of inventory 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 and no
material discrepancies between physical inventory and book records were
noticed on physical verification.
3. The Company has not granted any loan, secured or unsecured to
companies, firms or other parties covered in the register maintained
under Section 189 of the Act. Accordingly, the provisions of clauses
3(iii)(a) and 3(iii)(b) of the Order are not applicable.
(a) Receipt of the principal amount and the interest is N.A.
(b) Receipt of the principal amount and the interest is N.A.
4. In our opinion, there is an adequate internal control system
commensurate with the size of the Company and the nature of its
business for the purchase of inventory and fixed assets and for the
sale of goods and services. During the course of our audit, no major
weakness has been noticed in the internal control system in respect of
these areas.
5. The Company has not accepted any deposits within the meaning of
Sections 73 to 76 of the Act and the Companies (Acceptance of Deposits)
Rules, 2014 (as amended) . Accordingly, the provisions of clause 3(v)
of the Order are not applicable.
6. To the best of our knowledge and belief, the Central Government has
not specified maintenance of cost records under sub-section (1) of
Section 148 of the Act, in respect of Company's products/ services.
Accordingly, the provisions of clause 3(vi) of the Order are not
applicable.
7. (a) The Company is regular in depositing undisputed statutory dues
including provident fund, employees' state insurance, income-tax,
sales-tax, wealth tax, service tax, duty of customs, duty of excise,
value added tax, cess and other material statutory dues, as applicable,
with the appropriate authorities. Further, no undisputed amounts payable
in respect thereof were outstanding at the year-end for a period of more
than six months from the date they become payable.
(b)There are no dues in respect of income-tax, sales-tax, wealth tax,
service tax, duty of customs, duty of excise, value added tax and cess
that have not been deposited with the appropriate authorities on
account of any dispute.
(c)The Company has transferred the amount required to be transferred to
the investor education and protection fund in accordance with the
relevant provisions of the Companies Act, 1956 (1 of 1956) and rules
made there under within the specified time.
8. The Company has been registered for a period of less than five
years. Accordingly, the provisions of clause 3(viii), the accumulated
losses, of the Order are not applicable.
9. In our opinion, the Company has not defaulted in repayment of dues
to any financial institution or a bank or to debenture-holders during
the year.
10. The Company has not given any guarantee for loans taken by others
from banks or financial institutions.
11. In our opinion, the Company has applied the term loans for the
purpose for which these loans were obtained.
12. No fraud on or by the Company has been noticed or reported during
the period covered by our audit.
For STRG & ASSOCIATES
CHARTERED ACCOUNTANTS
FRN:014826N
-sd-
Place : New Delhi CA Rakesh Gupta
Date : 27.05.2015 Partner
M.No: 094040