We have audited the standalone financial statements of JYOTIRGAMYA ENTERPRISES LIMITED
("llie Company^), which comprises the Balance Sheet as at March 3!, 2024. the Statement of Profit and
Loss, the Cash Flow Statement lor the year then ended and notes to the financial statement, including a summary of significant accounting policies and other explanatory information.
In our opinion and to the Ihjsi of our information and according to the explanations given to us. the financial statement,', give the information required by llie Act in the manner so required and give a (rue 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 (he Company as at March 31.2024.
(b) in the case of the Profit & Loss Account, of the LOSS for the year ended on that date.
(c) In the case of the Cash Flow Statement, of the cash flows for lire year ended on that date.
Basis for Opinion
We conducted our audit in accordance with 1 he Standards on Auditing (S\s) specified under section 143(10) of' the Act. Our responsibilities under those Standards are further described in the Auditor , Responsibilities for the Audit of the Financial Statements section of our report. We arc independent of the Company in accordance with the Code ifF.ihiex issued b\ the Institute of Chartered Accountants of India together with ihc ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we hat e obtained is sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters
Key audit matters an; those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period, t hese matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
Management's KV>p«insil>ilit\ fur ilit- Standalone Financial Statement
I he Company's Board of Directors is responsible for the matters slated in section 134(5) of the Companies Act, 2013 (“the Act") with respect lo the preparation of these standalone that give a true and lair view of the linancial position, financial performance, (changes in equity)? and cash Hows of the Company in accordance withb the accounting principles generally accepted in India, including the accounting Standards specified under section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate implementation and maintenance of 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 ol the
financial statement that give a true and Ihtr view and are free from material misstatement, whether due lo fraud or error.
In preparing the financial statements, management is responsible for assessing the Company’s ability to continue a> a going concent, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting, unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors is. responsible as well for overseeing the Company's financial reporting process. Auditors1 Responsibility for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free front material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
As part of an audit in accordance with SAs. we exercise professional judgment and maintain professional skepticism throughout the audit. We also;
• Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit e\ idenec that is sufficient and appropriate to prov ide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances. Under section I43t3)<r) of the Companies act. 2013. we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.
• C onclude on the appropriateness of management's use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or. if such disclosures are inadequate, to modify our opinion. Our conclusions arc based on the audit evidence obtained up to the dale of our auditor's report. However, future events or conditions mas cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate w ith those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have compiled with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditor's Report) Order. 20|h ("The Order") issued by the Central Government of India in terms of sub-section (11) of section 143 of the Ad, we give in the "Annexure A” statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
2. As required by section 143(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 nccessarv 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 appears from our examination of those books
c) die Balance Sheet. Statement of Profit and Loss and Cash Flow statement dealt with by this Report are in agreement with the books of account.
d) in our opinion, the a fun; mi id financial statement!, comply with the Accounting Standards specified under Section 133 of the Act read with Rule 7 of the Companies (Accounts) Rules. 20 i 4:
e) on the basis or written representations received from the directors as on March 31. 2024. and taken on record by the Board of Directors, none of the directors is disqualified as on March 31. 2024, from being appointed as a director in terms of Section 164(2) ofthc Act.
0 with respect to the adequacy ol the interna! financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annex tine B"
g) with respect to the other matters to be included in the Auditors' 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 explanations given to us:
i. the company has disclosed the impact, if any. of pending litigations on its financial position it) its financial statement.
ii. the company do not have any long-term contracts including derivative contracts
iti. there has been no delay in transferring amounts, required to be transferred, to the Investor I'ducation and Protection fund by the Company.
iv (a) The Management has represented that to the best of its knowledge and belief no funds have been advanced or loaned or in vested (either from borrowed funds or share premium or any other sources or kind of funds) by the company to any other person(s) or entity(ies) including foreign entities ('Intermediaries’), with the understanding whether recorded in writing or otherwise that the intermediary shall whether directly or indirectly tend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or provide any guarantee, secunty or the like on behalf of ultimate beneficiaries
(b) The Management has represented that to the best of its knowledge and belief no funds have been recerved by the company from any person(s) or entity; ies) including foreign entities ('Funding Parties’) with the understanding whether recorded in writing or otherwise that the company shall, whether directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the funding party (ultimate beneficiaries) or provide any guarantee, security or the like on benatf of the Ultimate beneficiaries and
(c) Based on the audit procedures that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that representations under sub clause (a) and (b) above contain any material misstatement
v The Company has neither declared nor paid any dividend during the year
vi Proviso to sub-rule (11 of rule 3 of the Companies (Accounts) Rules. 2014 for maintaining books of account using accounting software which has a feature of recording audit trail (edit log) facility is made applicable to the Company with effect from 1st day of April 2023 and accordingly during the financial year 2022-2023 the company has not used accounting software which has a feature of
_recording audit trail (edit tog) facility. In view af the same, we are unable to comment on this para
For Amit Agarwal & Co _
Chartered Accountants ^ At rt^\
CA Suraj Kumar Singh '/ FCA Partner Membership No. 4403<i5 FRN 00M359C
(DIN 24440365BKCLHN6870
Flare: Delhi Date: 24/1)5/2024
1
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
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