| We have audited the accompanying financial d the company Flow Sit the
year of significant accounting policies and other explanatory
information.
Management's Responsibility for the Financial Statements
The company board of directors is reponssible for the matters stated in
the section 134(5) of the companies Act 2013 ("the act") with respect to
the perpartion of thise financial stements that give and fair view of
the financial performance and case flows of the company in accordance
with thwe accounting principles generally accepted in indis inclding the
accounting standars specific under section 133 of the read with 7 of the
compines rules 2014. and arc 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, thereunder.
We conducted our audit in accordance with the Standards on Auditing
spedfied under se^ 143(10)rftte Act Those Standards require that we
comply with ethical requirements and plan and perform the u act. those
no suggestions. require obtain reasonable assueance about whether the
financial statements are free from material -merit.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the overall presentation of the
financial statements.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis fo audit opinion on these financial
statements.
Opinion:
In our opinion and to the best of our information ami according to the
explanations given to us, the aforesaid 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 March 31, 2015;
b) in the case of the Statement uf Profit and Loss, of the Profit for
the year ended on that date; and
c) In the case of the Cash Flow Statement, of the cash flows for the
year ended on that date.
Rennet on Other Let'al and Regulatory Requirements:
1. 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.
2. As required by section 143 (3) uf the Act, wc 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 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 133 of the Act, read with
rule 7 uf the Companies (Accounts) Rules, 2014.
e) On the basis of written representations received from the directors
as on March 31, 2015 and taken on record by the Board of Directors,
none of the directors is disqualified as on March 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 explanation given to us,
i. The company does not have any pending litigations which would
impact its financial position;
ii. The Company did not have any long term contracts including
derivative contracts for which there were any material foreseeable
losses; and
iii. There were no amounts which were required to he transferred to the
Investor Education and Protection Fund by the Company.
The Annexure referred to in paragraph 1 under `Report on other Legal
and Regulatory Requirement' section of our report of even date. We
report that:
I. (a) The company has maintained proper records showing roll
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.
II. (a) As explained to us, inventory 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 P^^es of physical venfication of inventories followed
by the management are reasonable and adequate in relation to the size
of the company and the nature of its business.
(e) In our opinion and on the basis of our examinauon of the records,
the Company is generally mamtaining proper records of its inventories.
No material discrepancy was nottced on physical verification of stocks
by the management as compared to book records.
Ill According to the information and explanations given to us and on
the basis of our examination of theC books of account, the Company has
not granted any loans secured or unsecured to companies, firms or other
parties covered in the register maintamed under section 189 of the
Companies Act.
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 he naturef its business,
for the purchase of inventories & fixed assets and services. During the
course of our audit, no major instance of continuing lailurc to coned
any weaknesses in the internal controls has been noticed.
V. Based on the audit procedures applied by us and according to the
mformation and explanations provided by the management, the company has
not accepted deposits from public.
VI. As per information and explanation given by the management,
maintenance of cost records has not been prescribed by the Central
Government under subjection (1) of section 148 of the Companies Act,
2013.
VII. (a) According to the records of the company, the company is
regular in depositing undisputed statutory dues including Provident
Fund, Employees' Slate France, Income-tax. Sales-tax Wealth Tax,
Service Tax, Custom Duty, Excise Duty, value added tax, cess and any
other statutory dues and there are no statutory dues outstanding as on
31 March, 2015 for a period of more than six months from the date they
became payable.
(b) According to the information and explanations g.ven to us, there is
no amounts payable in respect of income tax, wealth tax, service tax,
sales tax, customs duty, excise duty or cess which have not been
deposited on account of any disputes.
M According to the information and explanations given to us, there are
no amounts required to be transferred to the Investor Education and
Protection Fund in accordance With the provisions of the Companies Act,
1956 and rules made thereunder.
VIII. The company has been incorporated for a period exceeding five
years. The company has no accumulated losses. It has not incurred cash
loss during the financial year covered by our audit and in the
immediately preceding the financial year
IX. 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 financial
institution, bank or debenture holders.
X. According information and explanation given to us the company has
not given any guarantee for loans taken by others from bank or
financial institution, the terms and conditions whereof are prejudicial
to the interest of the company.
XI. In our opinion and according to the information and explanations
given to us, the term loans have been applied for the purpose for which
they were raised.
XII. Based on the information and explanations given to us and on an
overall examination of the Balance Sheet of the Company as at 31st
March, 2015, we report that no funds raised on shortterm basis have,
prima-facie, been used for long-term investment by the Company and
vice-versa.
XIII. Based on the audit procedures performed and the information and
explanations given to us, we report that no fraud on or by the Company
has been noticed or reported during the year, nor have we been informed
of such case by the management.
For PARY & CO.
Chartered Accountants
KRN; 007288C
AKASH GACLANI
Place : Surat Partner
Date : May 30,2015 Membership No.: 114255
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