We have audited the accompanying IND AS Standalone financial statements of UVS Hospitality and
Services Limited (“the Company”), which comprise the Balance Sheet as at March 31, 2025, the
Statement of Profit and Loss (including Other Comprehensive Income), the Statement of Cash Flows and
the Statement of changes in Equity for the year then ended, and notes to the standalone financial
statements, including a summary of significant accounting policies and other explanatory information
(hereinafter referred to as the “standalone financial statements”).
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid IND AS Standalone financial statements give the information required by the Companies Act,
2013 (“the Act”) in the manner so required and give a true and fair view in conformity with the Indian
Accounting Standards prescribe under section 133 of the Act read with the Companies (Indian
Accounting Standards) Rules, 2015, as amended, (“IND AS”) and other accounting principles generally
accepted in India, of the state of affairs of the Company as at March 31, 2025:
i. In the case of the balance sheet of the state of affairs of the company as at 31st March 2025
ii. In the case of the statement of profit and loss for the year ended on that date
iii. In the case of the total comprehensive income
iv. In the case of the statement of cash flow for the year ended on that date
v. In the case of the statement of changes in equity for the year ended on that date
Basis for Opinion:
We conducted our audit of the Standalone financial statements in accordance with the Standards on
Auditing (SAs) specified under section 143(10) of the Companies Act 2013. Our responsibilities under
those Standards are further described in the Auditor's Responsibility for the Audit of the Standalone
financial statements section of our report. We are independent of the Company in accordance with the
Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical
independent requirements that are relevant to our audit of the standalone financial statements under
the provision of the Companies Act 2013 and Rules made there under, and we have fulfilled our other
ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe
that the audit evidence we have observed is sufficient and appropriate to provide a basis for our audit
opinion on the standalone financial statements.
Information Other than the Standalone financial statements and Auditor's Report Thereon:
The Company's Board of Directors is responsible for the preparation of the other information. The other
information comprises the information included in the Management Discussion and Analysis, Board's
Report including Annexure to Board's Report, Business Responsibility Report, Corporate Governance
and Shareholder's Information, but does not include the Standalone financial statements and our
auditor's report thereon.
Our opinion on the Standalone financial statements does not cover the other information and we do not
express any form of assurance conclusion thereon.
In connection with our audit of the standalone financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
standalone financial statements or our knowledge obtained during the course of our audit or otherwise
appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other
information, we required to report that fact.
“We have nothing to report in this regard.”
Management's Responsibility for the Standalone 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 standalone financial statements
that give a true and fair view of the financial position, financial performance including other
comprehensive income, cash flows and changes in equity of the Company in accordance with the IND AS
and other accounting principles generally accepted in India, including the Accounting Standards
specified under Section 133 of the Act. This responsibility also includes the maintenance of adequate
accounting records in accordance with the provision of the Act for safeguarding of the assets of the
Company and for preventing and detecting the 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 control, 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.
In preparing the financial statement, management is responsible for assessing the Company's ability to
continue as a going concern, 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 are responsible for overseeing the Company's financial reporting process.
Auditor's Responsibility for the Audit of the Standalone financial statement:
Our objective are to obtain reasonable assurance about whether the standalone financial statements as
whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's
report that include our opinion. Reasonable assurance is 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.
Misstatement can arise from fraud or error and are considered material if, individually or in aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of
these standalone financial statements.
Our responsibility is to express an opinion on these financial statement based on our audit. We have
taken into account the provision of the Act, the accounting and auditing standards and matters which are
required to be included in the audit report under the provision of the act and rules made thereunder
An audit involves performing procedures to obtain audit evidence about the amounts and disclosure in
the financial statements. The procedure selected depend on the auditor's judgment, including the
assessment of the risk of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor consider internal financial control relevant to the
company's preparation of the financial statement that give 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 operating effectiveness of such controls. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of the accounting estimates made
by 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.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
a) Identify and assess the risks of material misstatement of the standalone financial statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide 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.
b) Obtain an understanding of internal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances. Under section 143(3)(i) 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) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the management.
d) Conclude 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 standalone financial statements or, if such disclosures are
inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to
the date of our auditor's report. However, future events or conditions may cause the Company to cease
to continue as a going concern.
e) Evaluate the overall presentation, structure and content of the standalone financial statements,
including the disclosures, and whether the standalone financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the financial statements that, individually or in
aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the
financial statements may be influenced. We consider quantitative materiality and qualitative factors in
(i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the
effect of any identified misstatements in the financial statements.
We communicate with 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 complied 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 standalone 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, 2020 issued by the Central Government of
India in terms of sub-section (11) of section 143 of the Act, we give in the Annexure ('Annexure A') a
statement on the matters specified in paragraph 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 sought and obtained all the information and explanations which to the best of our
knowledge and belief were necessary for the 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 including other comprehensive income, the
Cash Flow Statement and statement of Changes in Equity dealt with by this Report are in
agreement with the books of account.
d) In our opinion, the aforesaid financial statements comply with the IND AS specified under Section
133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of written representations received from the directors as on March 31, 2025 taken
on record by the Board of Directors, none of the directors is disqualified as on March 31, 2025,
from being appointed as a director in terms of section 164(2) of the Act.
f) With respect to the adequacy of the internal financial controls over financial reporting of the
Company and the operating effectiveness of such controls, refer to our separate report in
"Annexure B”
g) With respect to other matters to be included in the Auditor's Report in accordance with the
requirement of Section 197(16) of the Act, as amended, the company has paid managerial
remuneration within limit prescribed under section 197(16) of the Act.
h) 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), 2014, as amended, 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 litigation which would impact its financial position;
ii. In our opinion and as per the information and explanation provides to us, the Company has
not entered into any long-term contracts including derivative contracts, requiring provision
under applicable laws or accounting standards for material foreseeable losses and
iii. There were no amounts which were required to be transferred to the Investor Education and
Protection Fund by the Company.
iv. (a) The Management has represented that, to the best of its knowledge and belief, no funds
(which are material either individually or in the aggregate) have been advanced or loaned or
invested (either from borrowed funds or share premium or any other sources or kind of funds)
by the Company to or in any other person or entity, including foreign entity (“Intermediaries”),
with the understanding, whether recorded in writing or otherwise, that the Intermediary shall,
whether, directly or indirectly lend 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, security or the like on behalf of the Ultimate Beneficiaries;
(b) The Management has represented, that, to the best of its knowledge and belief, no funds
(which are material either individually or in the aggregate) have been received by the
Company from any person or entity, including foreign entity (“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 behalf of the Ultimate Beneficiaries;
(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 the
representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (a) and (b)
above, contain any material misstatement.
v. The Company has not declared and paid any dividend during the year and accordingly
compliance of Section 123 of Act is not applicable.
i. The reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014 is
applicable from 1 April 2023. Based on our examination which includes test check and
information given to us, the company has used accounting software's for maintaining its books
of accounts, which did not have feature of recording audit trail (edit log) facility throughout
the year for all relevant transactions recorded in the respective software or did not enable the
feature, hence we are unable to comment of audit trail feature of the said software.
3. With respect to the matter to be included in the Auditors' Report under Section 197(16):
In our opinion and according to the information and explanations give to us, the remuneration
paid by the company to its directors during the current year is in accordance with the provisions
of Section 197 of the Act. The remuneration, paid to any director is not in excess of the limit laid
down under; section 197of the Act. The Ministry of Corporate Affairs has not prescribed other
details under Section 197(16) which, are required to be commented upon by us.
FOR TDK & CO.
CHARTERED ACCOUNTANTS
CA Nilanj Shah
(Partner)
M. No.: 121057
FRN: 109804W
Place: Mumbai
Date: 30/05/2025
UDIN: 25121057BMJHRB8458
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