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Super Bakers (India) Ltd.

BSE: 530735 Sector: Agri and agri inputs
NSE: N.A. ISIN Code: INE897A01011
BSE 15:33 | 27 Mar 2018 Super Bakers (India) Ltd
NSE 05:30 | 01 Jan 1970 Super Bakers (India) Ltd
OPEN 11.70
PREVIOUS CLOSE 11.67
VOLUME 100
52-Week high 12.25
52-Week low 4.25
P/E 13.60
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 11.70
CLOSE 11.67
VOLUME 100
52-Week high 12.25
52-Week low 4.25
P/E 13.60
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Super Bakers (India) Ltd. (SUPERBAKERSI) - Auditors Report

Company auditors report

To

The Members of

SUPER BAKERS (INDIA) LIMITED

Ahmedabad.

Report on the Financial Statements

We have audited the accompanying financial statements of SUPER BAKERS (INDIA)LIMITED ("the Company") which comprise the Balance Sheet as at 31st March2015 the Statement of Profit and Loss the Cash Flow Statement for the year then endedand a Summary of the 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 Section134(5) of the Companies Act 2013 ("the Act") with respect to the preparation ofthese financial statements that give a true and fair view of the financial positionfinancial performance and cash flows of the Company in accordance with the accountingprinciples generally accepted in India including the Accounting Standards specified underSection 133 of the Act read with Rule 7 of the Companies (Accounts) Rules 2014. Thisresponsibility also includes maintenance of adequate accounting records in accordance withthe provisions of the Act for safeguarding the assets of the Company and for preventingand detecting frauds and other irregularities; selection and application of appropriateaccounting policies; making judgments and estimates that are reasonable and prudent; anddesign implementation and maintenance of adequate internal financial controls that wereoperating effectively for ensuring the accuracy and completeness of the accountingrecords relevant to the preparation and presentation of the financial statements thatgive a true and fair view and are free from material misstatement whether due to fraud orerror.

Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on ouraudit.

We have taken into account the provisions of the Act the accounting and auditingstandards and matters which are required to be included in the audit report under theprovisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified underSection 143(10) of the Act. Those Standards require that we comply with ethicalrequirements and plan and perform the audit to obtain reasonable assurance about whetherthe financial statements are free from material misstatement. An audit involves performingprocedures to obtain audit evidence about the amounts and the disclosures in the financialstatements. The procedures selected depend on the auditor’s judgment including theassessment of the risks of material misstatement of the financial statements whether dueto fraud or error. In making those risk assessments the auditor considers internalfinancial control relevant to the Company’s preparation of the financial statementsthat give a true and fair view in order to design audit procedures that are appropriate inthe circumstances but not for the purpose of expressing an opinion on whether the Companyhas in place an adequate internal financial controls system over financial reporting andthe operating effectiveness of such controls. An audit also includes evaluating theappropriateness of the accounting policies used and the reasonableness of the accountingestimates made by the Company’s Directors as well as evaluating the overallpresentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate toprovide a basis for our audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanationsgiven to us the aforesaid financial statements give the information required by the Actin the manner so required and give a true and fair view in conformity with the accountingprinciples generally accepted in India i. In the case of the Balance Sheet of theState of Affairs of the Company as at 31 st March 2015; ii. In the case of theStatement of Profit & Loss of the Loss for the year ended on that date; and iii. Inthe case of the Cash Flow Statement of the Cash Flows for the year ended on that date.

Report on Other Legal and Regulatory Requirements

1. As required by the Companies (Auditor’s Report) Order 2015 ("theOrder") issued by the Central Government of India in terms of sub-section (11) ofsection 143 of the Companies Act 2015 we give in the Annexure a statement on thematters specified in paragraphs 3 and 4 of the Order to the extent applicable.

2. As required by Section143 (3) of the Act we report that:

a) We have sought and obtained all the information and explanations which to the bestof 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 theCompany 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 Statementdealt with by this Report are in agreement with the books of account

d) In our opinion the aforesaid financial statements comply with the AccountingStandards specified under Section 133 of the Act read with Rule 7 of the Companies(Accounts) Rules 2014.

e) On the basis of the written representations received from the directors as on 31stMarch 2015 and taken on record by the Board of Directors none of the directors isdisqualified as on 31 st March 2015 from being appointed as a director in terms ofSection 164 (2) of the Act.

f) With respect to the other matters included in the Auditor’s Report inaccordance with Rule 11 of the Companies (Audit and Auditors) Rules 2014 in our opinionand to the best of our information and according to the explanations given to us:

i. The Company does not have any pending litigations which would impact its financialposition

ii. The Company did not have any long-term contracts including derivative contracts forwhich there were any material foreseeable losses.

iii. There were no amounts which were required to be transferred to the InvestorEducation and Protection Fund by the Company.

For T. K. TEKWANI & CO.
Chartered Accountants
[FRN : 110851W]
Place : Ahmedabad (TULSIRAM TEKWANI)
Date : 20 th May 2015 Proprietor
M. No. 33551

ANNEXURE TO THE INDEPENDENT AUDITORS’ REPORT

The Annexure referred to in our report to the members of Super Bakers (India) Ltd. forthe year ended on 31.03.2015. We report that:

1. Fixed Assets

a) The company is maintaining proper records showing full particulars includingquantitative details and situation of fixed assets on the basis of available information.

b) We are informed that certain assets have been physically verified by the Management.As explained to us the Company has a policy to carry out a physical verification of allFixed Assets at reasonable intervals which in our opinion is reasonable having regard tothe size of the Company and nature of its assets. We are informed by the management thatno material discrepancies were noticed on such verification.

2. Inventory

a) As explained to us we are informed that inventories have been physically verifiedby the management at reasonable intervals during the year

b) In our opinion and according to information and explanation given to us theprocedures of physical verification of inventories followed by the management arereasonable and adequate in relation to the size of the company and the nature of itsbusiness.

c) In our opinion and according to information and explanation given to us the companyhas maintained proper records of its inventory and no material discrepancies were noticedon physical verification.

3. Loans and Advances

The company has not granted any loans secured or unsecured to companies firms orother parties covered in the register maintained under Section 189 of the Companies Act.

4. Internal Control

In our opinion and according to the information and explanations given to us there areadequate internal control procedures commensurate with the size of the company and thenature of its business with regard to purchases of inventory fixed assets and for thesale of goods. During the course of our audit we have not observed any continuing failureto correct major weaknesses in internal control systems.

5. Acceptance of Deposits

According to information and explanation given to us the company has not accepted anydeposit from public. Hence the directives issued by the Reserve Bank of India and theprovisions of Section 73 to 76 or any other relevant provisions of the Companies Act andthe rules framed there under in this respect are not applicable.

6. Cost Records

We have broadly reviewed the Cost Records maintained by the Company as specified by theCentral Government under sub section 1 of section 148 of the Companies Act and are of theopinion that prima facie the prescribed cost records have been maintained. We havehowever not made a detailed examination of the cost records.

7. Statutory Dues

a) The company is generally regular in depositing with appropriate authoritiesundisputed statutory dues including provident fund employees’ state insuranceincome tax sales tax and other material statutory dues applicable to it.

According to the information and explanations given to us no undisputed amountspayable in respect of income tax service tax sales tax were in arrears as at 31stMarch 2015 for a period of more than six months from the date they became payable b)According to the information and explanation given to us there were no dues of sales taxand income tax that have not been deposited on account of any dispute c) According to theinformation and explanation given to us there was no amount required to be transferred toinvestor education and protection fund in accordance with the relevant provisions of theCompanies Act 1956 (1 of 1956) and rules made thereunder.

8. Accumulated Loss

The Company’s accumulated losses at the end of the financial year are less thanfifty per cent of its net worth and it has not incurred cash losses in the currentfinancial year as well as in the immediately preceding financial year.

9. Default in Repayment of Dues

Based on our audit procedures and on the information and explanations given by theManagement we are of the opinion that the Company has not defaulted in repayment of duesto a financial institution or bank or debenture holders.

10. Guarantees

According to the information and explanations given to us the company has not givenany guarantee for the loans taken by others from banks or financial institutions.

11. Application of Loans

In our opinion term loans were applied for the purpose for which the loans wereobtained.

12. Frauds

According to the information and explanations given to us no fraud on or by thecompany has been noticed or reported during the course of our audit.

For T. K. TEKWANI & CO.
Chartered Accountants
[FRN : 110851W]
Place : Ahmedabad (TULSIRAM TEKWANI)
Date : 20 th May 2015 Proprietor
M. No. 33551