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Advent Computer Services Ltd.

BSE Live

Feb 18, 16:00
1.69 -0.08 (-4.52%)
Volume
AVERAGE VOLUME
5-Day
307
10-Day
177
30-Day
411
2
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    1.77

  • Open Price

    1.69

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

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Advent Computer Services is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2010 2009 2008 2007

Auditor's Report

1. We have audited the attached Consolidated Balance Sheet of M/s Advent Computer Services Limited, as at September 30th, 2007, and the related Profit and Loss Account for the year ended on that date annexed thereto, which we have signed under reference to this report. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements. 2. We conducted the audit 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 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. We did not audit the financial statements of the foreign subsidiary whose financial statements reflect total assets of Rs.438 Lakhs as at September 30th 2007 and total revenue of Rs.8S0 Lakhs for the period ended on that date. These financial statements have been consolidated based on the management certified accounts and we do not express an opinion on the same. 4. We report that the consolidated financial statements have been prepared by the management in accordance with the requirements of Accounting Standard 21 Consolidated Financial Statements issued by the Institute of Chartered Accountants oflndia. 5. On the basis of the information and explanations given to us and on the consideration of the separate audit reports on individual audited financial statements of the company and its consolidated entity, and subject to our opinion as per Para 3 above on the financial statements of the subsidiary and the basis of preparation of consolidated financial statements and its consequential effect on the assets, liabilities, profits of the financial statements , give a true and fair view in conformity with the accounting principles generally accepted in India: (a) In the case of the consolidated Balance Sheet, of the consolidated state of affairs of Advent computer services Limited and its consolidated entity as at September 30*, 2007. (b) In the case of the consolidated Profit and Loss account, of the consolidated results of operation of Advent computer services Limited and its consolidated entity for the period ended on that date. AUDITORS REPORT TO THE MEMBERS OF ADVENT COMPUTER SERVICES LIMITED 1. We have audited the attached Balance Sheet of Advent Computer Services Limited, as at September, 30,2007, and the related Profit and Loss Account and Cash Flow Statement for the period ended on that date annexed thereto, which we have signed under reference to this report. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on mese financial statements based on my audit. 2. We conducted the audit 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 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 my opinion. 3. As required by the Companies (Auditors Report) Order, 2003, as amended by the Companies (Auditors Report) (Amendment) Order, 2004, issued by the Central Government of India in terms of sub-section (4A) of Section 227 of The Companies Act, 1956 of India (the Act) and on the basis of such checks of the books and records of the Company as we considered appropriate and according to the information and explanations given to Us, I further report that: i). (a) The Company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets. (b) The fixed assets are physically verified by the management according to a phased programme designed to cover all the items over a period, which in my opinion, is reasonable having regard to the size of the Company arid the nature of its assets. Pursuant to the programme, a portion of the fixed assets has been physically verified by the management during me period and no material discrepancies between the book records and the physical inventory have been noticed, (c) In our opinion and according to the information and explanations given to us, a substantial part of fixed assets has not been , disposed of by the Company during the period. ii).(a) The Company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under Section 301 of the Act. (b) The Company has not taken any loans, secured or unsecured, from companies, firms or other parties covered in the register maintained under Section 301 of the Act. iii).In our opinion and according to the information and explanations given to us, there are adequate internal control systems commensurate with the size of the Company and the nature of its business for the purchase of inventory, fixed assets and for the sale of services. Further, on the basis of our examination of the books and records of the Company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control system. iv). The Company has not accepted any deposits from the public within the meaning of Sections 58A and 58AA or any other relevant provisions of the Act and the rules framed there under. v). In our opinion, the Company has an internal audit system commensurate with its size and nature of its business. vi). The Central Government of India has not prescribed the maintenance of cost records under clause (d) of subsection (1) of Section 209 of the Act for any of the products of the Company. vii).(a) According to the information and explanations given to us and the records of the Company examined by us, in our opinion, the Company is generally regular in depositing the undisputed statutory dues including provident fund, investor education and protection fund, income-tax, sales-tax, wealth tax, service tax, customs duty, excise duty, cess and other material statutory dues as applicable with the appropriate authorities. viii). The Company has incurred cash losses in the financial period ended 30.09.2007 and in the immediately preceding financial period. ix) 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 a financial institution, bank or debenture holders. i). The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. xi). The provisions of any special statute applicable to chit fund /nidhi / mutual benefit fund/societies are not applicable to the Company. xiii). In our opinion, the Company is not a dealer or trader in shares, securities, debentures and other investments. xiii). In our opinion, and 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 during the period. xiv). The Company has not obtained any term loans. xv). On the basis of an overall examination of the balance sheet of the Company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short-term basis which have been used for long-term investment. xvi). 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 during the period. xvii) The company did not have any outstanding debentures during die period. xviii)The Company has not raised any money by public issues during the period. xix). During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted auditing practices in India, and according to the information and explanations given to us, we have neither come across any instance of fraud on or by the Company, noticed or reported during the period, nor have we been informed of such case by die management. xx). Based on our audit procedures and as per the information and explanations given by die management, we are of the opinion that the company has not defaulted in repayment of dues to a financial institution, bank or debenture holders. 4. Further to our comments in paragraph 3 above, we report that: (a) We have obtained all the information and explanations, which to die best of our knowledge and belief were necessary for die purposes 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, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account; i (d) In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report comply witii the accounting standards referred to in sub-section (3C) of Section 211 of die Act; (e) On the basis of written representations received from die directors, as on September 30,2007 and taken on record by die Board of Directors, none of the directors is disqualified as on September 30,2007 from being appointed as a director in terms of clause (g) of sub-section (1) of Section 274 of die Act. (f) In our opinion and to die best of our information and according to the explanations given to us, die said financial statements together with die notes thereon and attached diereto give in the prescribed manner die information required by the Act and subject to our comments in paragraph 4 above give respectively a true and fair view in conformity with die accounting principles generally accepted in India and (i) in the case of the Balance Sheet, of die state of affairs of the Company as at September 30,2007; (ii) in the case of die Profit and Loss Account, of die profit for die period ended on that date; and Place: Chennai Pratapkaran Paul & Co. Date: 31.12.2007 Chartered Accountant Membership No. 23810 Pratapkaran Paul Partner