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Emmsons International Ltd.

BSE Live

Jul 09, 16:00
1.27 -0.06 (-4.51%)
Volume
AVERAGE VOLUME
5-Day
308
10-Day
227
30-Day
349
60
  • Prev. Close

    1.33

  • Open Price

    1.27

  • Bid Price (Qty.)

    1.27 (1)

  • 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 attached Balance Sheet of EMMSONS INTERNATIONAL LIMITED, Registered office 2637, 1st Floor, Naya Bazar, Delhi-110006 as at 31st March, 2008, Profit and Loss Account and also the Cash Flow Statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the Companys management. Our responsibility is to express an opinion on these financial statements based on our audit. We have conducted audit in accordance with 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. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Companies Act. 1956, we enclose in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the said Order. Further to our comments in the Annexure referred to above, we report that:- (i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit ; (ii) 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 ; (iii) The Balance Sheet, Profit and Loss Account and Cash Flow Statement, dealt with by this report, are in agreement with the books of account ; (iv) In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement, dealt with by this report, comply with the accounting standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 ; (v) On the basis of written representations received from the directors, as on 31st March, 2008, and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March 2008 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Companies Act. 1956; (vi) In our opinion and to the best of our information and according to the explanations given to us, the said accounts give the information required by the Companies Act, 1956, 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 31st March, 2008 and (b) in the case of the Profit and Loss Account, of the profit for the year ended on that date. (c) in the case of Cash Flow Statement, of the cash flows for the year ended on that date. ANNEXURE TO AUDITORS REPORT Referred to Paragraph 1 of our report of even date attached 1 (i) a) The company is maintaining proper records showing full particulars including quantitative details and situation of the assets on basis of the information available. b) According to information and explanation given to us, the fixed assets of the company have been physically verified by the management at reasonable intervals during the year. No material discrep- ancies has been noticed on such verification. c) No fixed assets have been disposed off during the year which may affect the going concern concept. (ii) a&b) As explained to us, the inventory has been physically verified by the management at reasonable intervals during the year. In our opinion, the frequency of such verification is Reasonable considering size and nature of the business. c) In our opinion and according to information and explanation given to us, the procedure of physical verification of inventory, followed by the management, are reasonable and adequate. No serious discrepancies have been noticed in physical verification. (iii) The company has not taken unsecured loans from the entities, listed in the register maintained under section 301 of the Companies Act, 1956. (iv) In our opinion and according to information and explanation given to us, there are adequate internal control procedures commensurate with the size and nature of the company for purchase of inventory and fixed assets and sale of goods. There is no continuing failure to correct major weakness in internal control. (v) According to the information and explanation given to us, the company has not entered into transaction pursuance of contract or arrangement entered in register maintained under section 301 of the Companies Act, 1956. (vi) In our opinion and explanation given to us, the company has not accepted any public deposit and the directives issued by the RBI and the provisions of 58A and 58AA of the Act and rules framed there under, wherever applicable, have been complied with. (vii) In our opinion, the company has an internal audit system commensurate with it size; and nature of business. (viii) The maintenance of the cost record have not been prescribed by the Central Government under section 209(1 )(d) of Companies Act, 1956 to the company. (ix) a) According to books of accounts examined by us and explanation given to us there are no undisputed statutory dues payable except given in point (b) in respect of PF, ESI, Income Tax, Sales Tax, Wealth Tax Custom Duty, Excise Duty, Cess and other statutory dues which are outstanding as at 31st March, 2008 for the period of more than 6 months from the date they became payable except balance demand of Income Tax of Rs. 24.63 lacs for AY 2003-04, where payment in installment is acceptable by the department and company is regular in payment by installment. b) According to information given to us following dues of sales Tax/income-tax/custom tax/wealth tax/ excise duty/cess have not been deposited by the company on account of dispute pending before concerned authority:- S. No. Period of demand Amount Involved 1 A.Y. 2006-07 24.04 lacs 2 A.Y.2004-05 2.15 lacs Particulars of demand Appeal Pending Before Demand under DVAT Addl. Commissioner of Trade & Taxes, New Delhi Demand raised on assesment 2nd appeal before ITAT u/s 143(3) of Income Tax Act is being filed (x) There are no accumulated losses of the company. The company has also not incurred any cash losses during the financial year and not immediately proceeding the financial year. (xi) As per explanation and information provided to us company has not defaulted in repayment of dues to a financial institution or banks. (xii) The company has not granted loan and advances on basis of security by way of pledged of shares, debentures, other securities. (xiii) Provisions of clause (xiii) are not applicable to the company. (xiv) As per information given to us company is not dealing or trading in shares, securities, debentures and other investments. (xv) In our opinion and according to the information and explanations given to us, the terms and conditions on which the Company has given guarantee for loans taken by others from banks or financial institutions are not prime-facie prejudicial to the interest of the Company. (xvi) To the best of our knowledge & belief and according to information given to us term loan availed by company, were prima facie applied by company during the year for the purpose for which they were obtained other than temporary deployment pending application. (xvii) As per information & explanation given to us and overall examination of balance sheet of the company we report that funds raised on short-term basis have prima facie not been used for long-term investment and vice versa. (xviii) As per information and explanation given to us the company has not made any preferential allotment of shares to parties and companies covered in register maintained under section 301 of the Companies Act. However company has accepted application money for preferential issue of equity warrants in accordance with scheme approved in Extra ordinary General meeting of shareholders. (xix) As per information & explanation given to us the company has not issued any debentures and no security has been created against the debenture. (xx) During the year, company has not raised money by way public issue of equity shares. (xxi) As per information & explanation given to us no fraud has been noticed or reported during the year. For SURESH & ASSOCIATES Chartered Accountants Sd/- (CA Suresh K. Gupta) Dated : 6th June, 2008 Partner Place : Delhi M. No. 080050