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Scanpoint Geomatics Ltd.

BSE: 526544 | NSE: | Series: | ISIN: INE967B01028 | SECTOR: Computers - Software

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Mar 30, 16:00
17.55 -0.95 (-5.14%)
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11,448
10-Day
32,296
30-Day
23,983
14,980
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    18.50

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    18.10

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Scanpoint Geomatics is not listed on NSE

Annual Report

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

Auditor's Report

We have audited the accompanying financial statements of Scanpoint Geomatics Ltd. which comprise the Balance Sheet as at 31 March 2015, the Statement of Profit and Loss and the Cash Flow Statement for the year then ended, and a summary of significant accounting policies and other explanatory information. Management''s Responsibility for the 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 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 theAccounting 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 are free from material misstatement, whether due to fraud or error. 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 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 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 the circumstances, but not for the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the 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. Opinion In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by theActin 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 31st March, 2015, and its profit and its cash flows for the year ended on that date. Report on Other Legal and Regulatory Requirements As required by Section 143(3)oftheAct, 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 forthe 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 aforesaid financial statements comply with the Accounting Standards specified under Section 133oftheAct, read with Rule 7 of the Companies (Accounts) Rules, 2014. e) On the basis of the written representations received from the directors as on 31st March, 2015 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March, 2015 from being appointed as a director in terms of Section 164 (2) of theAct. 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) There were no pending litigations which would impact the financial position of the company. ii) The company did not have any material foreseeable losses on long term contracts including derivative contracts. ii) There were no amounts which were required to be transferred to the Investor Education and Protection fund by the company. ANNEXURE TO THE INDEPENDENT AUDITORS REPORT (Referred to in our report of even date to the members of Scanpoint Geomatics Limited on the financial statements for the year ended March 31,2015) On the basis of such checks as we considered appropriate and according to the information and explanations given to us during the course of audit, we state that: i FIXED ASSETS: a) The Company has maintained proper records showing full particulars, including quantitative details and situation offixed assets. b) According to information and explanation given to us, during the year, the management conducted physical verification of certain fixed assets in accordance with its policy of physical verification in a phased manner. In our opinion, such frequency is reasonable having regard to the size of the Company and the nature of its fixed assets. As explained to us, the discrepancies noticed on physical verification as compared to book records maintained, were not material and have been properly dealt with in the books of account. ii INVENTORIES: a) As explained to us, the management has conducted physical verification of stocks of raw materials, finished goods and stores and spares at reasonable intervals during the year. b) In our opinion, and according to the information and explanations given to us, the procedures during the year for physical verification of inventory, followed by the management are reasonable and adequate in relation to the size of the Company and nature of its business. c) On the basis of our examination of inventory records, we are of the opinion that the Company has maintained proper records of inventory. Discrepancies noticed on physical verification of inventory as compared to the book records were not material and these have been properly dealt with in the books of account. iii LOANS: According to the information and explanations given to us, during the year the Company has not granted unsecured loan to companies, firm or other parties covered in the register maintained under section 189 of companies Act, 2013. iv INTERNAL CONTROL PROCEDURES: In our opinion and according to information and explanation given to us, during the year under report, there are adequate internal control procedures commensurate with the size of the Company and the nature of its business for the purchase of inventory, fixed assets and forthe sale of goods and services. Further, on the basis of our examination of books and records of the Company, and according to the information and explanations given to us, we have neither come across nor have been informed of any continuing failure to correct major weaknesses in the aforesaid internal control procedures. v PUBLIC DEPOSITS: In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public, to which the directives issued by the Reserve Bank of India and the provisions of Section 73 and 76 or any other provisions of the Companies Act, 2013 or the rules framed there under apply. vi COST RECORDS: As informed to us the Central Government had not prescribed maintenance of the cost records under SubSection (1) of Section 148 of the Companies Act, 2013 in respect to the activities carried out by the company. vii STATUTORYDUES: a) The company is generally regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Employee''s State Insurance, Income-tax, Sales tax, service tax and other material Statutory Dues applicable to it. There were no arrears as at 31st March, 2015, for a period of more than six months from the date they became payable. b) According to the records of the Company, no dues of sales tax, income-tax, customs, excise duty, cess which have not been deposited on account of disputes. c) In our opinion and according to the information and explanations given to us company was not required to transfer of any amount to investor education and protection fund in accordance with the relevant provisions of the Companies Act. vii ACCUMULATED LOSSES: In our opinion there are no accumulated losses of the company as on 31/03/2015. The company has not incurred cash losses during the financial year 2014-2015 covered by our audit and in the immediately preceeding financial year. ix REPAYMENT OF DUES OF FINANCIAL INSTITUTIONS: According to the information and explanations given to us, the Company has not committed default in repayment of dues to banks and financial institutions. The Company has not borrowed any funds by way of issue of debentures. x GUARANTEE: According to the information and explanations given to us, the Company has not given any guarantees for loans taken by others from banks or financial institutions. xi UTILIZATION OF TERM LOAN FUND: The company had obtained term loans during the previous years and in our opinion, the term loan has been applied for the purpose for which they were raised. xii FRAUD ON OR BYTHE COMPANY: To the best of our knowledge and according to the information and explanations given to us, there have been no cases of fraud on or by the Company noticed or reported during the year under report. For Manoj Acharya & Associates Chartered Accountants Manoj Acharya Place : Ahmedabad Partner Date : 30th May, 2015 45714 Firm Reg. No. 114984W