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Antarctica Ltd.

BSE: 526715 | NSE: ANTGRAPHIC |

Shares falling in the `Trade-to-Trade` or `T-segment` are traded in this series and no intraday is allowed. This means trades can only be settled by accepting or giving the delivery of shares.
Series: BE | ISIN: INE414B01021 | SECTOR: Printing & Stationery

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Antarctica is not listed on BSE

NSE Live

Mar 11, 15:32
0.50 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
28,688
10-Day
27,627
30-Day
22,680
31,544
  • Prev. Close

    0.50

  • Open Price

    0.45

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    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
2015 2014 2013 2012 2010 2008 2007 2006

Auditor's Report

We have audited the accompanying financial statements of M/S. ANTARCTICA LIMITED of 1A, Vidyasagar Street, Kolkata-9, which comprises the Balance Sheet as at 31st March, 2015 and the statement of Profit & Loss and the Cash Flow Statement for the year 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 financial statements that give a true and fair view of the financial position, financial performance of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 ofthe Act, read with Rule 7 ofthe Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets ofthe 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 ofthe accounting records, relevant to the preparation and presentation ofthe 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 responsibly 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) ofthe Act .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 of fraud or error. In making those risk assessments, the audit 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 ofthe accounting estimates made by management, as well as evaluating the overall presentation ofthe 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, ofthe state of affairs ofthe Company as at March 31, 2015 and its loss for the year ended on that date. Emphasis of Matters The financial statements ofthe Company have been prepared on a going concern basis. Report on Other Legal and Regulatory Requirements As required by Section 143 (3) ofthe 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 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 it 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. In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 ofthe Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. The going concern matter described under the Emphasis of Matters paragraph above, in our opinion, not have any adverse effect on the functioning ofthe Company. On the basis ofthe written representations received from the directors as on 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164 (2) of the Act. With respect to the other matters to be included in the Auditor''s Report in accordance with Rule 11 ofthe 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 has no pending litigations. ii. The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long term contracts including derivative contracts. iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company. Annexure to the Independent Auditor''s Report (Referred to in Paragraph 3 of our Report of even date) 1) The company has maintained proper records showing full particulars including quantitative details and situations of Fixed Assets. The Assets are physically verified by the management during the year. To the best of our knowledge, no material discrepancies were noticed on such verification. The company did not dispose of a substantial part of fixed assets during the year. 2) The inventory has been physically verified by the management during the year at reasonable intervals. In our opinion, 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. The company is maintaining proper records of inventory. The discrepancies noticed on verification between the physical stocks and the book records were not material. The discrepancies noticed on physical verification of stocks as compared to book records, were not material, however the same have been properly dealt with in the books of account. 3) The company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 189 ofthe Companies Act. 4) In our opinion an according to the information and explanations given to us, the company has an adequate internal control system commensurate with its size and nature of its business. During the course of our audit, we have not observed any continuing failure to correct major weakness in such internal control system. 5) According to the information and explanations given to us, the company has not accepted any deposit from the public. Therefore, the provisions of clause (v) of paragraph 3 of CARO 2015 are not applicable to the company. 6) The company is need not required to maintain cost records at this stage under sub-section (1) of section 148 of the Companies Act; 7) a) According to the records ofthe company, undisputed statutory dues including income-tax, sales-tax, value added tax, cess and any other statutory dues have been generally regularly deposited with appropriate authorities. b) According to the information and explanation given to us, no undisputed amounts payable in respect ofthe aforesaid dues were outstanding as March 31, 2015for period of more than six months from the date of becoming payable. c) Details of dues of Income tax, Sales tax, Service Tax, Customs Duty, Excise Duty, Value Added Tax are given below: Sl. Name of the Statue Nature of Dues Amount (Rs.) No. 1 VAT Act 2003 WB VAT - 2 VAT Act 2003 WB VAT - 3 VAT Act 2003 WB VAT - 4 INCOME TAX ACT 1961 INCOME TAX - 5 INCOME TAX ACT F.B.T - Sl. Name of the Statue Period to which Forum where dispute No. the amount is pending relates 1 VAT Act 2003 2011 -12 Directorate of Commercial Taxes Govt. of W.B. (Appeal) 2 VAT Act 2003 2010-11 ''DO'' 3 VAT Act 2003 2008-09 ''DO'' 4 INCOME TAX ACT 1961 2008-08 Commissioner of Income Tax(Appeal) 5 INCOME TAX ACT 2007-08 ''DO'' d) The company is need not required to transfer to investor education and protection fund in accordance with the relevant provisions ofthe Companies Act, 1956 (1 of 1956) and rules made thereunder. 8) The Company has no accumulated losses at the end of the financial year. The company has not incurred cash losses during the financial year covered by the audit and in the financial year immediately preceding such financial year. 9) The Company has not taken loan under cash credit from bank. The company has also unsecured loan from directors pending for repayment till date. 10) The company has not given any guarantee for loans taken by others from bank or financial institutions. 11) The company has not raised any long term loans during the period. 12) In our opinion an according to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the year. 30th May, 2015 For A.K.S.& Associates Howrah (C.A. Ashok Kumar Samanta) Firm Regn. No: 318100E Membership No: 053747