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B P Capital Ltd.

BSE Live

Jun 03, 16:00
4.01 0.19 (4.97%)
Volume
AVERAGE VOLUME
5-Day
24
10-Day
32
30-Day
21
28
  • Prev. Close

    3.82

  • Open Price

    4.01

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    4.01 (125)

NSE Live

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Volume
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  • Prev. Close

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B P Capital is not listed on NSE

Annual Report

For Year :
2015 2014 2013

Auditor's Report

We have audited the accompanying financial statements of B. P. CAPITAL LIMITED New Delhi (the Company), which comprise the Balance Sheet as at March 31, 2015 and the Statement of Profit and Loss and Cash Flow Statement for the year then 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 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 and financial performance and Cash Flow Statement 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 the maintenance of adequate accounting records in accordance with the provision of the Act for safeguarding of the assets of the Company and for preventing and detecting the 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 internal financial control, 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 have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder. We conducted our audit in accordance with the Standards on Auditing specified under section 143(10) of the 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 to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company''s preparation of the financial statements that give true and fair view 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 Company''s Directors, 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 on the financial statements. 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 the 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, 2015 (the Order) Issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act,2015 we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable. 2. 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 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 Company does not have any branch offices which are audited under Section 143(8) of the Act by branch auditors. d) The Balance Sheet, the Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of account. e) 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) Rules, 2014. f) There are no observations or comments on the financial transactions or matters which may have any adverse effect on the functioning of the Company. g) On the basis of written representations received from the directors as on 31 March, 2015, taken on record by the Board of Directors, none of the directors is disqualified as on 31 March, 2015, from being appointed as a director in terms of Section 164(2) of the Act. h) With respect to the other matters included in the Auditor''s Report and to the best of our information and according to the explanations given to us : i) As per information furnished to us, the Company does not have any pending litigations which would impact its financial position. ii) As per information furnished to us, the Company does not have any long-term contracts including derivatives contracts for which there were any material foreseeable losses. iii). There were no amounts which required to be transferred to the Investor Education and Protection Fund by the Company. ANNEXURE TO THE AUDITORS'' REPORT Annexure to the Auditors Report of the B. P. CAPITAL LIMITED (In respect of matters specified in paragraphs 3 & 4 of Companies (Auditor''s Report) Order, 2015) On the basis of such checks as we considered appropriate and in terms of the information and explanations given to us, we further state as under: 1. (a) The company has maintained proper records showing full particulars including quantitative details and situation of the fixed assets. (b) All the assets have not been physically verified by the management during the year but there is a regular programme of verification which, in our opinion, is reasonable having regard to the size of the company and the nature of its assets. No material discrepancies were noticed on such verification. (c) During the year, the company has not disposed off any of the fixed assets. 2. (a) The company is not dealing in any goods therefore there is no inventory. (b) As already stated, since the company is not dealing any goods, there is no question of procedure of physical verification of stock. (c) As already mentioned, the company is not dealing any goods and therefore there is no question of proper records of inventory. 3. (a) The company has not granted any loans, secured or unsecured, to the companies, firms or other parties covered in the register U/s. 189 of the Companies Act, 2013. (b) As the company has not granted any loans, the question of repayment does not arise. 4. 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, for purchase of inventory and fixed assets and for the sale of goods and services. During the course of our audit, we have not observed any continuing failure to correct major weakness in internal controls. 5. The Company has not accepted any deposits from the public. Therefore, the directive issued by the Reserve Bank of India and the provision of section 73 to 76 or any other relevant provisions of the Companies Act, 2013, and the rules framed there under does not arise. 6. Maintenance of cost records has not been prescribed by the Central Government U/s. 148(1) of the Companies Act, 2013. 7. (a) As per information and record produced before us, the company is regular in depositing undisputed statutory dues within in the prescribed time to the appropriate authorities. (b) According to the information and explanation given to us, no undisputed amounts payable on account of income tax, wealth tax, service tax, sales tax, custom duty, excise duty and education cess as at 31.03.2015 for a period of more than six months from the date they become payable. (c) In our Opinion, there is no amount required to be transferred to investor education and protection fund in accordance with the relevant provisions of the companies Act, 1956 (1of 1956) and rules made there under has been transferred to such fund within time 8. The accumulated losses if any, of the company as at the end of the financial year are less than 50% of its net worth. 9. According to the information and explanations given to us, the company has not taken any loan from any financial institution or bank. Therefore question of repayment of dues does not arise. 10. As per information furnished to us, the company has not given any guarantee for loans taken by others from bank or financial institution. 11. The company has not raised any term loan during the period. 12. According to the information and explanation given to us, no fraud on or by the company has been noticed or reported during the course of our audit. For M/s. RMA & Associates Chartered Accountants Firm Regn. No. 000978N Sd/- Place: New Delhi Pankaj Chander Dated : 29th May, 2015 Partner M. No. 89065