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SAKUMA EXPORTS LTD. Ltd.

BSE: 532713 | NSE: SAKUMA | Series: NA | ISIN: INE190H01024 | SECTOR: Miscellaneous

BSE Live

Sep 30, 15:40
5.96 -0.05 (-0.83%)
Volume
AVERAGE VOLUME
5-Day
107,261
10-Day
80,359
30-Day
85,863
20,012
  • Prev. Close

    6.01

  • Open Price

    6.06

  • Bid Price (Qty.)

    5.94 (10)

  • Offer Price (Qty.)

    6.10 (100)

NSE Live

Sep 30, 15:44
5.95 0.00 (0.00%)
Volume
AVERAGE VOLUME
5-Day
298,313
10-Day
250,186
30-Day
298,561
91,000
  • Prev. Close

    5.95

  • Open Price

    6.10

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

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

Auditor's Report

1) We have audited the attached Balance Sheet of SAKUMA EXPORTS LIMITED as at 31st March 2012, Statement of Profit and Loss and cash flow 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. 2) We conducted our 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 statements presentation. We believe that our audit provides a reasonable basis for our opinion. 3) As required by the Companies (Auditor''s Report) Order, 2003 issued by the Central Government in Terms of Section 227 (4A) of the Companies Act, 1956 and on the basis of such checks and verification as were considered necessary, we report, in the Annexure hereto on the matters specified in the Paragraph 4 of the said order. 4) 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 those books; c) The Balance Sheet and Profit & Loss Account dealt with by this report are in agreement with the books of accounts. d) In our opinion, the Balance Sheet and Profit & Loss Account dealt with by this report are in compliance with the Accounting standard referred to in Section 211 (3C) of the Companies Act, 1956. e) On the basis of written representations received from the Directors of the Company as at March 31, 2012 and taken on record by the Board of Directors, we report that no director is disqualified from being appointed as a Director of the company under clause (g) of subsection (1) of section 274 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 accounts together with the notes thereon, give the information required by the Companies Act, 1956 in the manner so required and gives true and fair view in conformity with the accounting principles generally accepted in India i) In the case of Balance Sheet, of the state of affairs of the Company as at 31st March, 2012 and ii) In the case of Statement of Profit & Loss of the Profit for the year ended on that date. iii) In case of Cash Flow of the cash flow for the year ended on that date ANNEXURE TO THE AUDITORS REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31st MARCH, 2012 Annexure referred to in Paragraph 3 of our report of even date On the basis of such checks as we considered appropriate and in terms of information and explanations given to us, we state that: 1. a. According to information and explanations given to us by the management and records furnished before us, the Company has generally maintained proper records showing full particulars, including quantitative details and situation of fixed assets. b. We have been informed that, the fixed assets have been physically verified by the Management at reasonable intervals. In our opinion, the frequency of verification is reasonable with regard to the size of the company and nature of assets. According to information and explanations given to us by the management, no material discrepancy was noticed on such verification. c. According to information and explanations given to us by the management and records furnished before us, during the year the company has not disposed off a substantial part of its fixed assets and accordingly it has no effect on the going concern of the company. 2. a. According to information and explanation given to us by the management and records furnished before us, Inventory of Finished Good and Raw Material have been physically verified by the management at reasonable intervals. b. In our opinion procedure of physical verification is reasonable and adequate with regards to size of the company and nature of its business. c. According to information and explanations given to us by the management and records furnished before us, the Company has generally maintained proper records of Inventories and no material discrepancies have been noticed. 3. a. According to the information and explanations given to us and on the basis of records furnished before us, the company has not granted any loans to parties covered in the register maintained under section 301 of the Companies Act, 1956. Accordingly Clause 4(iii)(a), (b), (c), and (d) of Companies (Auditor''s Report) Order, 2003 is not applicable. b. According to the information and explanation given to us and records furnished before us for verification, during the year under consideration the company has taken loan from one party covered in the register maintained under section 301 of the Act. The maximum amount involved during the year is Rs. 203 Lacs and the year end balance is Rs. 145 Lacs. c. In our opinion and according to information and explanation given to us, the rate of interest and other terms and conditions on which loans have been taken are prima facie not prejudicial to interest of the company. d. According to records examined by us, in our opinion payment of interest is regular and with respect to principal, according to information and explanation given to us the said loan is repayable on demand and has been repaid as and when demanded. 4. According to the information & explanations given to us, in our opinion there is an adequate internal control procedure commensurate with the size of the company and the nature of its business, for the purchase of Fixed Assets, Inventory and sale of goods. On the basis of our examination of books and records of the company, we have neither come across nor have been informed of any continuing failure to correct major weakness in the internal control. 5. a. In our opinion and according to the information and explanation given to us, the particulars of contract or arrangements that were required to be entered in the register maintained under Section 301 of the Companies Act 1956 have been so entered in the said register. b. In respect of the transactions made in pursuance of such contracts or arrangements exceeding value of Rupees five lakhs entered into during the financial year, in our opinion, are made at price which is reasonable having regard to the prevailing market prices at the relevant time. 6. The company has not accepted any deposits from the public hence Clause 4(vi) of Companies (Auditor''s Report) Order, 2003 is not applicable. 7. According to information and explanations given to us the internal audit functions carried out during the year by a firm of Chartered Accountants appointed by the management have been commensurate with the size of the Company and the nature of its business. 8. According to the information and explanations given to us, the Central Government has not prescribed maintenance of cost records under section 209(1)(d) of the Companies Act, 1956 in respect of the products dealt with by the company. 9. a. According to the information and explanations given to us and records examined by us, the Company is generally regular in depositing undisputed statutory dues including provident fund, investor education and protection fund, employees'' state insurance, income tax, sales tax, wealth tax, custom duty, excise duty, service tax, cess and other dues with the appropriate authorities except few delays in payment of tax deducted at source. b. No statutory dues are outstanding beyond six months from the date they become payable at the end of the year. c. According to information & explanation given to us and the records of the Company, the following dues of Sales tax, Income Tax, Wealth Tax, Service Tax, Custom Duty, Excise Duty and Cess that have not been deposited on account of dispute or are partially deposited under protest. Statute & Nature of dues Amount not Deposited '' Forum where dispute is pending Period Income Tax 2.46 Lacs 1st Appellate Authority A.Y 2002-03 Income Tax 14.60 Lacs 1st Appellate Authority A.Y 2009-10 10. The Company does not have any accumulated losses at the end of the financial year and has not incurred cash losses during the current and immediately preceding financial year. 11. As per the information and explanations given to us, the Company has not defaulted in repayment of dues to banks or financial institutions during the year. The Company has not borrowed any sums through debentures. 12. 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. 13. In our opinion, the company is not chit fund, nidhi, mutual fund, and societies. Accordingly clause 4(xiii) of Companies (Auditor''s Report) Order, 2003 is not applicable. 14. According to Information and explanation given to us and records examined by us, in our opinion the company has maintained proper records and contracts with respect to investments and has made timely entries therein of investment in Mutual Funds, Gold and other investments. Investments are held in the name of the company. 15. According to information and explanations provide to us, the company has not given any guarantee for loans taken by others from bank or financial institutions. Accordingly Clause 4(xv) of Companies (Auditor''s Report) Order, 2003 is not applicable. 16. According to information and explanations given to us by the management and records furnished before us, during the year company has not taken any term loan. Accordingly clause 4(xvi) of Companies (Auditor''s Report) Order, 2003 is not applicable. 17. According to the information and explanations given to us and overall examination of records furnished before us, funds raised on short-term basis have not been prima-facie used for long-term investment. 18. During the period, the company has not made allotment of shares on preferential basis to parties and companies covered in the registered maintained under section 301 of the Act hence Clause 4(xviii) of Companies (Auditor''s Report) Order, 2003 is not applicable. 19. During the period, the Company has not issued any debentures. Accordingly Clause 4(xix) of Companies (Auditor''s Report) Order, 2003 is not applicable. 20. The company has not raised any money by public issue during the year under audit. Accordingly Clause 4(xx) of Companies (Auditor''s Report) Order, 2003 is not applicable. 21. During the course of our examination of the books and records of the company, carried out in accordance with generally accepted auditing practices in India, and according to the information and explanation given to us, we have neither come across any instance of fraud on or by the company noticed or reported during the period nor we have been informed of such instances by the management. For A. R. SODHA & CO. Chartered Accountants, FRN : 110324W A. R. Sodha Partner. M. No. 31878 Place: Mumbai. Date : 13th August, 2012