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Integrated Capital Services Ltd.

BSE: 539149 | NSE: | Series: | ISIN: INE682B01023 | SECTOR: Finance - Investments

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Dec 03, 16:00
3.32 0.15 (4.73%)
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AVERAGE VOLUME
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9,284
10-Day
6,017
30-Day
3,050
6,560
  • Prev. Close

    3.17

  • Open Price

    3.32

  • Bid Price (Qty.)

    3.10 (31)

  • Offer Price (Qty.)

    3.32 (247)

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Integrated Capital Services is not listed on NSE

Annual Report

For Year :
2016 2015

Auditor's Report

We have audited the accompanying standalone financial statements of Integrated Capital Services Limited(The Company), which comprise the Balance Sheet as at March 31,2015, the Statement of Profit and Loss, the Cash Row Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information. 2) Management''s Responsibility for the Standalone 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 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 maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the 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 of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and free from material misstatement, whether due to fraud or error. 3) 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 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 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 a true and fair view in order to design audit procedures that are appropriate in circumstances but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial control system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the 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 standalone financial statements. 4) Opinion In our opinion and to the best of our information and according 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 M arch 31,2015, and its profit and its cash flows for the year ended on that date. 5) Report on Other Legal and Regulatory Requirements As required by the Companies (Auditor''s Report) Order, 2015 (the Order) issued by the Central Government of India in terms of section 143 (11) of the Act, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the Order. 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 purpose 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 Balance Sheet, the Statement of Profit and Loss, and the Cash Row 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 representations received from the directors as on March 31,2015, taken on record by the Board of Directors, none of the directors is disqualified as on M arch 31,2015, from being appointed as a director in terms of Section 164 (2) of the Act. f) With respect to the other matters to be 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: i) The Company does not have any pending litigations which would impact its position. ii) The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses. iii) There were no amounts which were required to be transferred to the Investor Education and Protection Fund bytheCompany. i) (a) The Company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets. (b) As explained to us, all the fixed assets have been physically verified by the management in a phased periodical manner, which in our opinion is reasonable, having regard to the size of the Company and nature of its assets. No material discrepancies were noticed on such verification. ii) The Company does not own any inventory. Accordingly, provisions of clause (ii) (a), (ii) (b) and (ii) (c) of paragraph 3 of the Order are not applicable to the Company. iii) The Company has not granted any loans, secured or unsecured, to companies, firms or other parties covered in the register maintained under section 189 of the Act. Accordingly, the provisions of clause (iii)(a) and (b)of paragraph 3 of the Order are not applicable to the Company. iv) In our opinion and according to the information and explanations given to us, there are adequate internal control systems commensurate with the size of the Company and the nature of its business with regards to purchase of fixed assets and rendering of services. The activities of the Company do not involve purchase of inventory and the sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control systems. v) The Company has not accepted any deposits from the public within the meaning of section 73 to 76 of the Act and the Companies (Acceptance of Deposits) Rules, 2014 (as am ended). vi) The Central Government has not prescribed the maintenance of cost records under section 148(1) of the Act for any of the services rendered by the Company. vii) a) According to the information and explanations given to us the provisions of Employees Provident Fund Act, 1952, and Employees'' State Insurance Act, 1948, are not applicable to the Company and on the basis of our examination of the books of account, the Company has generally been regular in depositing the undisputed statutory dues applicable to the Company. According to the information and explanations given to us, no undisputed amounts payable in respect of aforesaid dues were outstanding as at March 31,2015, for a period of more than six months from the date they became payable. b) According to the information and explanationsgiven to us, there are no dues of income tax, sales tax, wealth tax, service tax, duty of customs, duty of excise, value added tax and cess that have not been deposited by the Company with appropriate authorities on account of dispute. c) 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 (1 of 1956) and rules made thereunder. viii) The Company does not have accumulated losses at the end of the financial year and has not incurred any cash losses during the financial year covered by our audit and also in the immediately preceding financial year. ix) The Company did not have any outstanding dues to a financial institution or bank or debenture holders. x) According to the information and explanations given to us, the Company has not given any guarantee for loans taken by others from banks or financial institutions. xi) The Company has not obtained any term loans. xii) To the best of our knowledge and according to the information and explanationsgiven to us, no frauds on or by the Company has been noticed or reported during the year. PU-53, Vishakha Enclave, KR& Co Pitampura, Chartered Accountants New Delhi-110088 Firm Registration No. 025217N By the hand of Rakesh Jain July 10,2015 Partner New Delhi Membership No.086501