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SAKUMA EXPORTS LTD. Ltd.

BSE: 532713 | NSE: SAKUMA |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE190H01024 | SECTOR: Miscellaneous

BSE Live

Oct 01, 10:56
6.03 0.05 (0.84%)
Volume
AVERAGE VOLUME
5-Day
107,261
10-Day
80,359
30-Day
85,863
10,662
  • Prev. Close

    5.98

  • Open Price

    5.94

  • Bid Price (Qty.)

    5.99 (1838)

  • Offer Price (Qty.)

    6.03 (15)

NSE Live

Oct 01, 11:01
6.00 0.05 (0.84%)
Volume
AVERAGE VOLUME
5-Day
298,313
10-Day
250,186
30-Day
298,561
23,524
  • Prev. Close

    5.95

  • Open Price

    5.95

  • Bid Price (Qty.)

    6.00 (815)

  • Offer Price (Qty.)

    6.05 (21954)

Annual Report

For Year :
2018 2016 2015 2014 2013 2012 2011 2010 2009

Auditor's Report

We have audited the attached Balance Sheet of SAKUMA EXPORTS LTD. as at 31st March, 2007 and also the Profit and Loss Account and the Cash Flow Statement for the year ended on that date, annexed thereto and report as under. 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 amount and disclosure in financial statements. An audit also include assessing the accounting principal used and significant estimates made by management, as well as evaluating the over all financial statements presentation. We believe that our audit provides reasonable basis for opinion. As required by the Companies (Auditors Report) Order, 2003 issued by the Central Government in terms of sub-section (4A) Section 227 of the Companies Act, 1956, we enclose in the Annexure a statement on the matters specified in paragraph 4 and 5 of the Said Order. Further to our comments in the Annexure referred to above, 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 purpose 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 the books. c) The Balance Sheet, Profit and Loss account and Cash Flow Statement dealt with by this report are in agreement with the books of account maintained by the company. d) On the basis of confirmations received from the directors no such director is disqualified from being appointed as a director of the Company under section 274 (1) (g) of the Companies Act, 1956. e) In our opinion the Balance Sheet, Profit and Loss account and Cash Flow Statement comply with the accounting standards referred to in sub- section (3C) of Section 211 of the Companies Act, 1956. f) In our opinion, and to the best of our information and according to the explanations given to us, the said Statement of Accounts, read together with notes and schedules annexed thereto and forming part thereof, gives the information required by the Companies Act, 1956, in the manner so required and give a true and fair view: i) In so far as it relates to the Balance Sheet, of the state of affairs of the Company as at 31st March, 2007. ii) In so far as it relates to the Profit and Loss Account of the Profit of the company for the year ended on that date. iii) In so far as it relates to cash flow of the company for the year ended on that date. ANNEXURE TO THE AUDITORS REPORT Referred to in paragraph 3 of our report of even date, i. In respect of its fixed assets: (a) The Company is maintaining proper records showing full particulars including quantitative details and situation of fixed assets. (b) The fixed assets are physically verified by the management, which in our opinion is reasonable having regard to the size of the company and the nature of its assets. Pursuant to above verification no material discrepancies between the book records and the physical inventory have been noticed. (c) No substantial part of the fixed assets has been disposed off by the Company during the year. ii. In respect of its inventory: (a) As explained to us, the inventory has been physically verified at reasonable intervals during the year by the management. (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 were reasonable and adequate in relation to the size of the Company and the nature of its business. (c) In our opinion and according to the information and explanations given to us, Company has maintained proper records of stock and no material discrepancies were noticed on physical verification. iii. (a) The Company had taken interest free unsecured loan from directors, companies and other parties covered in the register maintained under section 301 of the Companies Act, 1956 in the previous year & has been repaid during the year. The maximum amount involved during the year was Rs. 48.79 lacs. According to the information and explanation given to us the company has not granted any loans, secured or unsecured to the companies, firms and other parties covered under the register maintained under section 301 of the Companies Act, 1956. (b) In our opinion, other terms and conditions of such loans are not prima facie prejudicial to the interest of the company. (c) As there is no outstanding dues at the year end hence the reporting requirement relating to terms of repayment is not applicable. iv. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business, for the purchase of inventory and fixed assets and for the sale of goods. During the course of our audit no major weaknesses has been noticed in the internal controls. v. (a) According to the information and explanation given to us, we are of the opinion that the transactions that need to be entered into the register maintained under section 301 of the Companies Act, 1956 have been so entered. (b) In our opinion and according to the information and explanations given to us, the company has not made any transactions exceeding the value of Rs. five lacs with any party listed in the register maintained under section 301 of the Companies Act, 1956. Accordingly, clause 4 (v) (b) of the Companies (Auditors Report) Order, 2003 is not applicable. vi. The company has not accepted any deposits from the public within the meaning of Section 58A and 58AA of the Act and the rules framed there under. vii. In our opinion, the Company has an adequate internal audit system commensurate with its size and nature of its business. viii. The company is not engaged in manufacturing activities; hence the maintenance of cost records in accordance with section 209(l)(d) of the Companies Act, 1956, is not applicable. ix. (a) According to the information and explanations provided to us, the company is generally regular in depositing with appropriate authorities undisputed amount of provident fund, employees state insurance, income-tax, sales-tax, wealth-tax, customs duty, excise duty, cess and other material statutory dues wherever applicable to it and no undisputed amounts payable were outstanding as at 31stMarch, 2007 for a period of more than six months from the date they became payable. (b) According to the records of the company, dues of Income Tax that has not been deposited on account of any dispute is as follows: Stature Nature of Dues Income Tax Act, 1961 Interest levied by the department. Amount (Rs.) Forum where the dispute is pending 2,45,931/- Chief Commissioner of Income Tax. Further, there is no other dues in respect of sales-tax, customs duty, wealth-tax, excise duty and cess that have not been deposited on account of any dispute x. The company has no accumulated losses as at March 31, 2007 and it has not incurred any cash loss in the financial year ended on that date. xi. According to records of the company examined by us and the information and explanation given to us, the company has not defaulted in repayment of dues to any financial institution or bank as at the balance sheet date. xii. The Company has not granted any loans and advances on the basis of security by way of pledge of shares, debentures and other securities. xiii. The provisions of any special statute applicable to chit fund/ nidhi / mutual benefit fund/ societies are not applicable to the Company. xiv. The nature of Companys business/activities during the year does not include dealing in shares, securities, debentures or other investments, hence the requirement of offering comments on this clause is not applicable. xv. In our opinion, and 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 during the year. xvi. The company has not taken any term loans, except vehicle loan, which has been applied for the purposes for which it was obtained, xvii. On the basis of an overall examination of the balance sheet and cash flow statement of the company, in our opinion and according to the information and explanations given to us, there are no funds raised on a short-term basis, which have been used for long-term investment. xviii.The Company has not made any preferential allotment of shares to parties and companies covered in the register maintained under Section 301 of the Act during the year. xix. No debentures have been issued by the Company during the year. xx. We have verified the end use of money raised by public issue in the previous financial year as disclosed in the notes to the financial statements. xxi. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted audited practices in India, and according to the information and explanations given to us, we have neither come across any instance of material fraud on or by the Company, noticed or reported during the year, nor have we been informed of such case by the management. For and on behalf of MITTAL & ASSOCIATES Chartered Accountants Gopal Bohra Partner M. No. 77881 PLACE : MUMBAI DATED : 31.05.2007