Report on the Financial Statement
We have audited the accompanying financial statement of M/s NATURA HUE
CHEM LIMITED (“the Company), which comprise Balance Sheet as at
31st March'' 2013, the Statement of Profit & Loss & Cash Flow
Statement for the year ended and a summary of accounting policies and
other explanatory information.
Management''s Responsibility for the Financial Statement Management is
responsible for the preparation of these financial statement that give
a true and fair view of the financial position, financial performance
of the company in accordance with the Accounting Standard referred to
sub-section (3C) of Section 211 of the Companies Act 1956 (“the
Act). The responsibilities includes the design, implementation and
maintenance of internal control relevant to the preparation and
presentation of the financial statement that gives 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 the financial statement
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 night - reasonable
assurance about whether the financial statements are free of material
An audit involves performing procedures to obtain audit evidence about
the amount and disclosures in the financial statement. The procedures
selected depend on the auditor''s judgment, including the assessment
of the risk of material misstatement of the financial statement,
whether due to fraud or error. In the making those risk assessment,
the auditor considers internal control relevant to the Company''s
preparation and presentation of the financial statement 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
We believe that audit evidence we have obtained is sufficient and
appropriate to provide a basis of our audit opinion.
In our opinion and to the best of our knowledge 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 the conformity with the accounting principles generally
acceptance in India:
1. In the case of Balance Sheet, of the state of affairs of the
Company as at march 31, 2013;
2. In the case of Statement of Profit and Loss, of the profit for the
year ended on that date.
3. In the case of cash flow statement, of the cash flow for the year
ended on that date.
Report on Other Legal and Regulatory Requirements
a. As required by Companies (Auditor''s Report) Order 2003 including
companies (auditor''s report) (amendment) Order ''2004 issued by the
Central Government of India in term of sub-section (4A) of section 227
of the Act, we given in annexure. a statement on matter specified in
Para 4 and 5. of the said order.
b. As required by the Section 227(3) of the Act, we report that
1. We have obtained all information and explanations which to the best
of our knowledge and belief were necessary for the purpose of our
2. In our opinion proper books of account as required by law have been
kept by the Company so far as appear from our examination of those
3. The balance Sheet and Statement of Profit and Loss dealt by this
Report are in agreement with the books of accounts;
4. In our opinion, the Balance Sheet and Statement of Profit and Loss
comply with Accounting Standard referred in sub-section (3C) of Section
211 of the Companies Act 1956; and
5. On the basis of written representation received from the directors
as on March 31, 2013, and taken on record by 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
ANNEXURE TO THE AUDITORS''S REPORT
The annexure to refer to in our report to the members of Natural Hue
Chem Limited (“The Company) for the year ended March 31, 2013. We
I. a. The Fixed Assets register is being maintained by the Company
showing full particulars including quantitative details and situation
of Fixed Assets.
b. We are informed that the Fixed Assets were physically verified at
reasonable intervals during the year. No serious discrepancies were
noticed on such verification.
c. None of the fixed assets of the company have been disposed off
during the year so the question of affecting the going concern does not
arises at all.
II. The Company has not carry over business during the year, hence
this clause is not applicable.
III. a. The Company has granted unsecured loans to companies, firms or
other parties listed in the Registers maintained U/S 301 of the
Companies Act 1956 The total no. of Party are 1 and maxim% amount
outstanding during the year aggregates to Rs. 565.40 Jobs '' and year
end balances was Rs. 565.40 Lacs.
b. In our opinion & according to the information given to us the rate
of interest & terms & condition of the loan given by the company are
not prejudicial to the interest of the company.
c. As explained to us there is no Stipulation regarding principal
amount & interest thereon.
d. As stated above, since there is no stipulation regarding repayment
of principal amount. Hence the question of overdue amount is more than
1 lacs does not arises.
e. The Company has not taken any loans, secured or unsecured from
companies, firms or other parties listed in the Registers maintained
U/S 301 of the Companies Act 1956 (1 of 1956). Hence the other
information is not given here.
IV. In our opinion and according to the information and explanations
given to us, there are adequate internal control procedures
commensurate with the size of the Company and nature of its business
for the purchase of stores, raw materials including components, plant
and machinery, equipment and other assets and for the sale of goods.
There is no such major weakness, which requires any corrective steps.
V. As explained to us, no transactions have been carried out during
the year, which is required to be entered in the register maintained
U/s 301 of the Act.
VI. The company has not accepted any public deposit hence this clause
is not applicable.
VII. In our opinion, the Company has an internal audit system
commensurate with its size and nature of its business.
VIII. Central Government has not prescribed maintenance of cost
records U/s 209 (l)(d) in respect of the any of the products and hence
Para 4(viii) of CARO'' 2003 is not applicable. ''
IX. a. According to the information and explanations given to us and
according to the books and records as produced and examined by us,
In our opinion, undisputed statutory dues including provided employee''s
state insurance, income tax, sales tax, wealth customs duty, excise
duty, cess and other material statutory dues applicable to the Company
have generally been regularly deposited with the appropriate
authorities. According to the information and explanations given to us,
no undisputed amounts payable in respect o income tax, wealth tax,
sales tax, customs duty, excise duty and cess were in arrears, as at
31st March 2013 for a period of more than six months from the date they
b. As informed by the management, there is no disputed amount pending
under the sales tax, income tax, customs, and wealth tax excise duty
cess hence the question relating to the forum where the dispute is
pending does not arise at all.
X. The company does not have accumulated losses of more than 50% of
its net worth as at 31st March'' 2013 but it incurred cash losses during
the finials year also.
Xl. The company has not taken any loan from financial institution hence
this clause is not applicable.
XII. In our opinion and according to the information and explanation
given to us, the company has not granted any loans and advances on the
basis of security by way of pledge of shares, debentures and other
XIII. The provision of any special status as specified under Clause
(xiii) of Order is not applicable to the Company.
XIV. In our opinion and according to the information and explanations
given to us, the company is not a dealer or trader in securities.
XV. The company has not given guarantees for loans taken by others or
XVI. No term loans have been taken by the company hence the question of
application of tern loan for required purpose is not arises.
XVII. According to the information and explanations given to us and on
an overall examination of the balance sheet of the company, we report
that no funds raised on short-term basis have been used for long-term
investment by the Company.
XVIII. During the year under audit the company has not made any
allotment of shares so the question of preferential allotment and
pricing of the share whether it is prejudiced are does not arise.
XIX. The company has not issued debentures; hence question of creation
of securities does not arise.
XX. The company has not raised any money through the public issue
during the year so the question of end use of money & the issue is not
XXL According to the information and explanations given to us, during
the year no fraud on or by the Company has been noticed or reported.
FOR, MADHURESH GUPTA & CO.
(FIRM REG. NO. 005910G