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OneSource Ideas Ventures Ltd.

BSE: 530805 | NSE: | Series: NA | ISIN: INE125F01024 | SECTOR: Diamond Cutting & Jewellery & Precious Metals

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Sep 20, 16:00
15.33 0.73 (5.00%)
Volume
AVERAGE VOLUME
5-Day
8
10-Day
15
30-Day
3,334
187
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    14.60

  • Open Price

    15.33

  • Bid Price (Qty.)

    0.00 (0)

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NSE Live

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

    -

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OneSource Ideas Ventures is not listed on NSE

Annual Report

For Year :
2014 2013 2012 2011 2010 2009 2008 2007 2002

Auditor's Report

Report on the Financial Statements We have audited the accompanying financial statements of M/s. Anugraha Jewellers Limited, which comprise the Balance Sheet as at 31st March, 2013, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of the significant accounting policies and other explanatory information. Management''s Responsibility for the Financial Statements The Company''s Management is responsible for the preparation of these 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 Standards referred to in sub-section (3C) of section 211 of the Companies Act, 1956 (the Act). 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 misstatement, whether due to fraud or error. Auditors'' Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with the 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 the 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 the internal control relevant to the Company''s preparation and fair presentation of the financial statements 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 the Management, 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. Opinion In our opinion and to the best of our information and according to the explanations given to us, the 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 31st March, 2013; b) in the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date, and c) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date. Report on Other Legal and Regulatory Requirements 1. As required by the Companies (Auditor''s Report) Order, 2003(the Order) issued by the Central Government of India in terms of sub-section (4A) of section 227 of the Act, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of the Order. 2. 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, 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, Statement of Profit and Loss, and the Cash Flow Statement comply with the Accounting Standards referred to in sub-section (3C) of section 211 of the Act. (e) On the basis of the written representations received from the directors as on 31st March, 2013 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2013 from being appointed as a director in terms of clause (g) of sub-section (1) of section 274 of the Act. ANNEXURE TO AUDITORS'' REPORT The Annexure referred to in paragraph 1 of the Report of even date to the members of Anugraha Jewellers Limited on the accounts of the company for the year ended 31st March, 2013. On the basis of such checks as we considered appropriate and according to the information and explanation given to us during the course of our audit, we report that: I. In respect of Fixed Assets: (a) The company has maintained proper records showing full particulars including quantitative details and situation of its fixed assets. (b) As explained to us, fixed assets have been physically verified by the management at reasonable intervals; no material discrepancies were noticed on such verification. (c) In our opinion and according to the information and explanations given to us, no fixed asset has been disposed during the year and therefore does not affect the going concern assumption. II. In respect of its Inventories: (a) As explained to us, inventories have been physically verified during the year by the management at reasonable intervals. (b) In our opinion and according to the information and explanations given to us, the procedures of physical verification of inventories followed by the management are reasonable and adequate in relation to the size of the company and the nature of its business. (c) In our opinion and on the basis of our examination of the records, the Company is generally maintaining proper records of its inventories. No material discrepancy was noticed on physical verification. III. The Company has neither granted nor taken any loans, secured or unsecured to / from companies firms or other parties covered in the register maintained under section 301 of the companies Act 1956 and hence the provisions of clauses 4 (iii) (b) to (d), (f) & (g) of the companies (Auditor''s Report) Order, 2003 are not applicable. IV. In our opinion and according to the information and explanations given to us, there is generally an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of inventories & fixed assets and payment for expenses & for sale of goods. During the course of our audit, we have not observed any continuing failure to correct major weaknesses in internal control V. In our opinion and according to the information and explanations given to us there are no transactions that need to be entered into the register maintained under section 301 of the Companies Act 1956. VI. In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public covered under section 58A and 58AA of the Companies Act, 1956. VII. In our opinion, the Company has an internal audit system commensurate with the size and nature of its business VIII. As per information & explanations given to us, no order for the maintenance of cost records under clause (d) of sub-section (1) of section 209 of Companies Act 1956 has been made by the Central Government for any of the products of the Company. IX. In respect of Statutory dues: (a) According to the information and explanations given to us, the company has generally been regular in depositing undisputed statutory dues including Provident Fund, Investor Education and Protection Fund, Employees'' State Insurance, Income-tax, Sales-tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty, cess and any other statutory dues with the appropriate authorities during the year. There are no undisputed statutory dues as on 31st of March, 2013. (b) According to the information and explanations given to us, there is no amounts payable in respect of income tax, wealth tax, service tax, sales tax, customs duty and excise duty which have not been deposited on account of any disputes. X. The accumulated loss of the Company as at the end of the financial year is more than fifty percent of the Company''s net worth. The Company has incurred cash loss during the financial year and the Company has not incurred cash loss in the immediately preceding financial year. XI. Based on our audit procedures and on the information and explanations given by the management, we are of the opinion that, the Company has not defaulted in repayment of dues to a bank. XII. According to the information and explanations given to us, the Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures and other securities. Hence the provisions of the clause 4 (xii) of the Companies (Auditor''s Report) Order are not applicable. XIII. The Company is not a chit fund or a nidhi /mutual benefit fund/society. Therefore, the provision of this clause of the Companies (Auditor''s Report) Order, 2003 (as amended) is not applicable to the Company. XIV. In our opinion and according to the information and explanations given to us, the Company is not dealing in or trading in Shares, Mutual funds & other Investments. Hence the provisions of clause 4 (xiv) of the Companies (Auditor''s Report) Order, 2003 are not applicable. XV. According to the information and explanations given to us, the Company has not given any guarantees for loan taken by others from a bank or financial institution during the year. XVI. To the best of our knowledge and belief and according to the information and explanation given to us, in our opinion the company has not raised any term loans during the year. XVII. According to the information and explanations given to us and on an overall examination of the Balance Sheet of the Company as at 31st March, 2013, we report that no funds raised on short- term basis have been used for long-term investment by the Company. XVIII. The provisions of clause 4 (xviii) (xix) and (xx) of the Companies (Auditor''s Report) Order 2003 are not applicable since the company has not issued any shares or debentures and not raised money by the way of public issue during the year. XIX. To the Best of our Knowledge and belief and according to the information and explanations given to us, no fraud on or by the Company was noticed or reported during the year. For Gurubatham & Associates Chartered Accountants Firm Regn. No. 010982S Place : Coimbatore Date : May 29, 2013 R. Gurubatham Partner Membership No. 200/21556