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Emmsons International Ltd.

BSE Live

Jun 04, 16:00
1.67 -0.08 (-4.57%)
Volume
AVERAGE VOLUME
5-Day
610
10-Day
330
30-Day
138
50
  • Prev. Close

    1.75

  • Open Price

    1.67

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Dec 27, 11:22
NT* 0.00 (0.00%)
Volume
No Data Available
0
  • Prev. Close

    -

  • Open Price

    -

  • Bid Price (Qty.)

    - (0)

  • Offer Price (Qty.)

    - (0)

Emmsons International is not listed on NSE

Annual Report

For Year :
2015 2014 2013 2012 2011 2009 2008 2007

Auditor's Report

We have audited the accompanying standalone financial statements of Emmsons International Limited (the company), which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss, the Cash Flow Statement and a summary of significant accounting policies and other explanatory information for the year then ended. Management''s Responsibility for the Standalone 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 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 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 standalone 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 there under. 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 requirement and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedure 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 accounting to the explanations given to us, the aforesaid standalone 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, of the state of affairs of the Company as at March 31, 2015 and its profit and loss and its 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 Act, we give in the Annexure a statement on the matters specified in the paragraph 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 accounts as required by law have been kept by the Company so far as appears from our examination of those books: c) 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. d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules 2014. e) On the basis of written representation 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: and f) With respect to the other matters included in the Auditor''s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014 in our opinion and to the best of our information and according to the explanations given to us: 1. The company has disclosed the impact of pending litigation on its financial position in its financial statements- Refer Note 34(e)(f) and 35 to the financial statements. 2. The company do not have any long term contract including derivative. 3. 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 INDEPENDENT AUDITOR''S REPORT The Annexure referred to in our Independent Auditors'' Report to the members of the Company on the standalone financial statements for the year ended 31 March, 2015 we report that: i) (a) The company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets. (b) The Company has a regular program of physical verification of its fixed assets by which fixed assets are verified in a phased manner. In accordance with this program, certain fixed assets were verified during the year and no material discrepancies were noticed on such verification. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the company and the nature of its assets. ii) (a) the management of the Company has conducted the physical verification of inventory at reasonable intervals during the year. (b) The procedure of physical verification of inventory followed by the management is reasonable and adequate in relation to the size o the company and nature of its business. (c) The company has maintained the proper records of inventory and no material discrepancies were noticed on physical verification. iii) (a) The company has not granted any loans to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act, 2013 (the Act). (b) The Company has not granted any loans to companies firms or other parties covered in the register maintained under section 189 of the Companies Act, 2013 (the Act) Accordingly, paragraph 3 (iii) (b) of the Order is not applicable to the Company. iv) in our opinion and according to the information and explanations given to us, there is an adequate internal control system commensurate with the size of the company and the nature of its business with regard to purchase of fixed assets and sale of goods. We have not observed any major weakness in the internal control system during the course of the audit. v) The Company has not accepted any deposits from the public. vi) The central Government has not prescribed the maintenance of cost records under section 148(1) of the Act. vii) (a) According to the information and explanations given to us and on the basis of our examination of the records of the company, amounts deducted/accrued in the books of account in respect of undisputed statutory dues including provident fund, income tax sales tax, wealth tax, service tax, duty of customs, Value Added Tax, Cess and other material statutory dues have been regularly deposited during the year by the company with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of Provident Fund, Income Tax, Sales Tax, Wealth Tax, Service Tax, Duty of Customs , Value Added Tax, cess and other material statutory dues were in arrears as at 31 March 2015 for a period of more than six months from the date they became payable. (b) According to the information and explanations given to us, below given dues of income tax, sales tax, wealth tax, service tax, value added tax and cess have not been deposited with the appropriate authorities on account of dispute. Name of the Nature of dues Amount Period to which Forum where Statute (in Rs) the amount relates dispute is pending Income Tax Act Income Tax 8.60 Lacs A.Y 2004-05 CIT(A) Income Tax Act Order by CPC- TDS u/s 154 23.43 Lacs A.Y 2013-14 CIT(A) Income Tax Act Order by CPC- TDS u/s 154 2.71 Lacs A.Y 2014-15 CIT(A) (c) According to the information and explanations given to us the amounts which were 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 there under has been transferred to such fund within time. viii) The Company does not have any accumulated losses at the end of the financial year and has incurred cash losses in the financial year and not in the immediately preceding financial year. xi) The Company did not have any outstanding dues to financial institutions, banks or debenture holders during the year. x) In our opinion and according to the information and the explanations given to us, the company has given guarantee for loans taken by others from banks or financial institutions. xi) The Company has applied term loans for the purpose for which the loans were obtained. xii) According to the information and explanations given to us, no material fraud on or by the Company has been noticed or reported during the course of our audit. For SURESH & ASSOCIATES FRN: 003316N Chartered Accountants Sd/- (CA SURESH K. GUPTA) Partner M. No. 080050 Date : 28.05.2015 Place : New Delhi