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Fourth Generation Information Systems Ltd.

BSE: 532403 | NSE: | Series: | ISIN: INE739B01039 | SECTOR: Computers - Software Medium & Small

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Mar 11, 16:00
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11
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145
30-Day
174
10
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Fourth Generation Information Systems is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2005

Auditor's Report

We have audited the accompanying financial Statements of M/s FOURTH GENERATION INFORMATION SYSTEMS LTD which comprise the Balance Sheet as at 31st March 2014, The statement of Profit & Loss Account and the cash flow Statement for the year ended, and a summary of the significant accounting policies and other explanatory information. Managements Responsibility for the Financial Statements The Companies management is responsible for the preparation of these financial statements that give a true and fair view of the financial position and financial performance of the company in accordance with the accounting standards referred to in Sub-section (3C) of section 211 of the companies Act, 1956. This responsibility includes the design, Implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatements, whether due to fraud or error. Auditors Responsibility We have audited the attached Balance Sheet of M/s FOURTH GENERATION INFORMATION SYSTEMS LTD, Hyderabad as at 31st March 2014, the Profit & 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 company''s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in India. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatements. An audit includes examining on 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 the management as well as evaluating the overall financial statement presentation. We believe that our 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 said accounts read with other notes to accounts and accounting policies give the information required by the Companies Act 1956, in the manner so required and give a true and fair view:- i) In the case of Balance Sheet of the state of the affairs of the Company as at 31st March 2014 and ii) In the case of Profit & Loss Account of the Loss of the Company for the year ended on that date. iii) In the Cash Flow statement of the Cash Flow for the year ended on that date. Report on Other Legal and Regulatory Requirements As required by the Companies (Auditor''s Report) Order,2003 (the Order) issued by the Central Government in terms of Section 227(4A) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. As required by Section 227(3) of the Act, we report that: (a) We have 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, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report are in agreement with the books of account. (d) In our opinion, the Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in Section 211(3C) of the Act. (e) On the basis of the written representations received from the directors as on 31st March, 2014 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2014 from being appointed as a ANNEXURE TO THE AUDITOR''S REPORT 1. (a) The company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets. (b) According to the information and explanations given to us, fixed assets were physically verified by the management during the year and no material discrepancies were noticed on such verification. (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 year. 2. As per books of accounts, there is no inventory existing in the company and hence sub clauses 2(a), 2(b) and 2(c) of this Order are not applicable. 3. According to the information and explanation given to us, the Company has not granted/taken any loan, secured or unsecured to/from Companies/firms or other parties covered in the register maintained under Section 301 of the Companies Act, 1956. Sub clauses 3(b), 3(c) and 3(d) of this Order are not applicable. 4. In our opinion and according to the information & explanations given to us, there are adequate internal control procedures commensurate with the size of the company and nature of business for the purchase of inventory and fixed assets and for sale of goods. In our opinion and according to the information and explanations given to us, there is no continuing failure to correct major weakness in internal control. 5. As per information & explanations given and on the basis of records provided to us, there is no transaction that need to be entered in the register maintained under Section 301 of the Companies Act. In view of this clause, clause 5(b) of this Order is not applicable for the current year. 6. According to information and explanations given to us, the company has not accepted any deposits from the public for the period under 14. The Company is not dealing or trading in shares, securities, debentures and other investments. Hence no records are required to be maintained. 15. As per information and explanations given to us, the company has not given any guarantee for loans taken by others from banks and financial institutions during the year. 16. The company has not taken any term loan during the year. 17. In our opinion and according to the explanations given to us and as per verification of records produced before us the company during the period under consideration has not raised any fund on short-term basis. 18. The company has made preferential allotment of shares to parties covered under section 301 of the Companies Act, 1956. 19. The company during the year has not issued any debentures. 20. The company has not raised any money by public issue during the year. 21. In our opinion and according to the information and explanations given to us, no fraud has been noticed or reported during the period under consideration. For M M REDDY & CO., Chartered Accountants Firm Reg. No: 010371S M. Madhusudhana Reddy Place: Hyderabad Partner Date : May 30th, 2014 Membership No.213077