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To the members of
Fourth Dimension Solutions Limited
Report on the Standalone Ind AS Financial Statements
We have audited the standalone Ind AS financial statements of FOURTH DIMENSION SOLUTIONS LIMITED ("the company"), which comprise the Balance Sheet as at 31 March 2017, 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 a summary of the significant accounting policies and other explanatory information attached herewith (herein after referred to as "standalone Ind AS financial statements").
Managements Responsibility for the Financial Statements
The Companys 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 Ind AS financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, cash flows and statement of changes in equity of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Act, read with relevant rules issued thereunder.
This responsibility also includes 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 controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone Ind AS financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
Our responsibility is to express an opinion on these standalone Ind AS 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 standalone Ind AS financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of
material misstatement of the standalone Ind AS financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Companys preparation of the standalone Ind AS financial statements that give true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by the Companys Directors, as well as evaluating the overall presentation of the standalone Ind AS financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone Ind AS financial statements.
In our opinion and to the best of our information and according to the explanations given to us, the
aforesaid standalone Ind AS 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 including the Ind AS, of the financial position of the Company as at 31 March 2017, and its financial performance including other comprehensive income, its cash flows and changes in equity for the year ended on that date.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order, 2016 ("the Order) as amended, is as issued by the
Central Government of India in terms of sub-section (11) of section 143 of the Act, we give in the "Annexure A a
statement on the matters specified in paragraphs 3 and 4 of the Order.
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 appears from our examination of those books (and proper statutory returns adequate for the purposes of our audit have been received from the branches not visited by us);
(c) the accounts of the branch offices of the Company not visited by us are maintained at registered office and have been audited by us and have been properly dealt by us in preparing this report;
(d) the Balance Sheet, the Statement of Profit and Loss including other comprehensive income Cash Flow Statement, statement of changes in equity dealt with by this Report are in agreement with the books of account (and the statutory returns received from the branches not visited by us).
(e) according to the information and explanations given to us by the management without prejudice to the provisions relating to our audit and auditor thereof, in our opinion, there are no observations or comments on the financial transactions, which may have an adverse effect on the functioning of the Company;
(f) in our opinion, the aforesaid standalone Ind AS financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with relevant rules issued thereunder;
(g) on the basis of written representations received from the directors as on 31st March 2017, taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2017, from being appointed as a director in terms of Section 164(2) of the Act;
(h) on the basis of written representations received from the directors as on 31 March 2017, the company is not been able to identify Micro & SME Organization from its Creditors;
(i) Balances of all Debtors, Creditors, Advance to suppliers, & Advances from customers & Other Advances are subject to confirmation. The Company has dispatched balance confirmation letters to respective parties, but majority of these replies/counter-statements has not been received as on the date of signing of balance sheet. In the absence of such confirmations, the balances as reflected by the Companies books as on 31 March 2017 have been presumed to be accurate.
(j) According to the information and explanations given to us, subject to the foregoing para without prejudice to the provisions relating to our audit and auditor thereof, in case of differences between the balances including the financial disputes if any, it may be reconciled as per the mutual consent/settlement reached by both the parties in accordance with the prevailing laws as applicable which may result into the subsequent changes in the account balances during the financial year 2017-18 as against the balances appearing in Companys books as on 31.03.2017, although such balances are presumed to be accurate.
(k) 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" ;
(l) 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 the explanations given to us:
i. the Company has disclosed the impact of pending litigations including but not limited to any material foreseeable litigations on its financial positions in its financial statements as of 31 March 2017.
ii. the Company did not have any long-term contracts including derivatives contracts for which there were any material foreseeable losses;
iii. there were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company;
iv. the Company has provided requisite disclosures in its standalone Ind AS financial statements as to holdings as well as dealings in Specified Bank Notes during the period 08 November, 2016 to 30 December 2016 and these are in accordance with the books of accounts maintained by the Company.
|FOR SAIN KANWAR & ASSOCIATES|
|Firm Reg. No. 018023N|
|Place: New Delhi|