INDEPENDENT AUDITORS REPORT
To
The Members of of UI wealth advisors limited
Report on the Financial Statements
We have audited the accompanying financial statements of UI wealth advisors
limited ("the Company") which comprise the Balance Sheet as at March
31,2013, and the Statement of Profit and Loss and Cash Flow Statement for the year then
ended, and a summary of significant accounting policies and other explanatory information.
Managements Responsibility for the Financial Statements
Management is responsible for the preparation of these financial statements that give a
true and fair view of the financial position, financial performance and cash flows of
the Company in accordance with the accounting principles generally accepted in India,
including Accounting Standards referred to in sub-section (3C) of section 211 of
the Companies Act, 1956 ("the Act"). This responsibility includes the design,
implementation and maintenance of internal control 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.
Auditors Responsibility
Our responsibility is to express an opinion on these financial statements based on our
audit. We conducted our audit in accordance with the Standards on Auditing issued by the
Institute of Chartered Accountants of India. Those Standards require that we comply with
ethical requirements and plan and perform the audit to obtain reasonable assurance about
whether the 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 financial
statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Companys preparation and fair presentation of
the financial statements 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 management, 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.
Opinion
In our opinion and to the best of our information and according to the explanations
given to us, the 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:
(i) in the case of the Balance Sheet, of the state of affairs of the Company as at
March 31, 2013;
(ii) in the case of the Statement of Profit and Loss, of the profit for the year ended
on that date; and
(iii) in the 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 (Auditors Report) Order 2003 (as amended) ("the
Order"), issued by the Central Government of India in terms of sub-section (4A) of
section 227 of the Act, we give in the Annexure hereto, a statement on the matters
specified in the paragraphs 4 and 5 of the said Order.
2. As required by section 227(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 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 appears from our examination of those books;
c) The 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 Balance Sheet, Statement of Profit and Loss and Cash Flow
Statement comply with the Accounting Standards referred to in sub-section (3C) of section
211 of the Act;
e) On the basis of the written representations received from the directors as on March
31, 2013 and taken on records by the Board of Directors, none of the directors is
disqualified as on March 31, 2013 from being appointed as a director in terms of clause
(g) of sub-section (1) of section 274 of the Act.
For Pathak H.D. & Associates
Chartered Accountants
Firm Registration No. 107783W
Mukesh Mehta
Partner
Membership No.: 43495
Place: Mumbai
Date : 12th April 2013
ANNEXURE TO INDEPENDENT AUDITORS REPORT
Annexure referred to in paragraph 1 under the heading "Report on other legal and
regulatory requirements" of our report of even date to the members of UI WEALTH
ADVISORS LIMITED on the accounts for the year ended March 31, 2013
(i) In respect of its fixed assets:
The Company does not have any fixed assets. Therefore the provisions of Clause 4 (i) of
the said Order are not applicable to the Company.
(ii) In respect of its inventories:
The Company does not have any inventory. Therefore the provisions of Clause 4 (ii) of
the said Order are not applicable to the Company.
(iii) According to the information and explanations given to us, the Company has
neither granted nor taken any loan, secured or unsecured to/from companies, firms or other
parties covered in the register maintained under section 301 of the Act. Therefore the
provisions of Clause 4(iii) of said Order are not applicable to the Company.
(iv) In our opinion and according to the information and explanations given to us,
there is an adequate internal control system commensurate with the size of the Company and
the nature of its business. During the financial year, the Company did not undertake any
activity of purchase of fixed assets, inventory and sale of goods. During the course of
our audit, we have not observed any continuing failure to correct major weakness in the
internal control system.
(v) According to the information and explanations given to us, there are no contracts
or arrangements referred to in section 301 of the Act, that need to be entered in the
register required to be maintained under that section.
(vi) In our opinion and according to the information and explanations given to us, the
Company has not accepted any deposit from the public and hence directives issued by the
Reserve Bank of India and the provisions of section 58A and 58AA of the Companies Act,
1956 and rules framed there under are not applicable for the year under audit.
(vii) In our opinion, the Company has an internal audit system commensurate with the
size and nature of the business.
(viii) According to the information and explanations given to us, Central Government
has not prescribed maintenance of cost records under section 209 (1) (d) of the Act, in
respect of activities carried on by the Company. Therefore the provisions of Clause
4.(viii) of the said Order are not applicable to the Company.
(ix) According to the information and explanations given to us, and the records of the
Company examined by us:
(a) The Company has been regular in depositing with appropriate authorities undisputed
statutory dues, including Provident Fund, Investor Education and Protection Fund,
Employees State Insurance, Income tax, Sales tax, Wealth tax, Service tax, Custom Duty,
Excise Duty and any other material statutory dues as applicable to it. According to the
information and explanations given to us, no undisputed amounts payable in respect of the
aforesaid statutory dues were outstanding, as at March 31, 2013 for a period of more than
six months from the date they became payable.
(b) According to the information and explanations given to us there are no dues of
Income Tax , Sales Tax, Wealth Tax, Custom Duty, Excise Duty, Service Tax & Cess as
applicable, which have not been deposited on account of any dispute.
(x) The Company does not have accumulated losses at the end of financial year. It has
not incurred any cash losses during the financial year covered by audit and in the
immediately preceding financial year.
(xi) The Company does not have any dues to financial institutions, banks or debenture
holders. Therefore the provisions of Clause 4 (xi) of the said Order are not applicable to
the Company.
(xii) According to the information and explanations given to us, the Company has not
granted loans and advances on the basis of security by way of pledge of shares, debentures
and other securities.
(xiii) In our opinion, the Company is not a chit fund, a nidhi or a mutual benefit fund
/society. Therefore, the provisions of Clause 4 (xiii) of the said Order are not
applicable to the Company.
(xiv) In our opinion and according to the information and explanations given to us, the
Company has maintained proper records of transactions and contracts in respect of
investments and timely entries have been made therein. All the investments have been held
by the Company in its own name.
(xv) According to the information and explanations given by the management, the Company
has not given any guarantee for loans taken by others from banks or financial
institutions.
(xvi) According to the information & explanations given to us, the Company has not
raised any term loan during the year.
(xvii) According to the information and explanations given to us and on an overall
examination of the Balance sheet of the Company, there are no funds raised on short term
basis during the period of our audit and hence the question of using the same for long
term investment does not arise.
(xviii) During the year the Company has not made any preferential allotment of the
shares to the parties and companies covered in the Register maintained under section 301
of the Act.
(xix) The Company has not issued any debentures during the year. Therefore the
provisions of Clause 4 (xix) of the said Order are not applicable to the company.
(xx) The Company has not raised any monies by way of public issues during the year.
(xxi) Based upon the audit procedures performed for the purpose of reporting the true
and fair view of the financials statements and as per the information and explanations
given by the management, we report that no fraud on or by the Company has been noticed or
reported during the course of our audit.
For Pathak H.D. & Associates
Chartered Accountants
Firm Registration No. 107783W
Mukesh Mehta
Partner
Membership No.:43495
Place: Mumbai
Date: 12th April 2013
+91-9892691696
