We have audited the accompanying financial statements of UNICK FIX-A-FORM AND PRINTERS
LIMITED (“the Company”), which comprise the balance sheet as at March 31, 2023,
and the Statement of Profit and Loss and statement of cash flows for the year then ended,
and notes to the financial statements, including a summary of significant accounting
policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations
given to us, the aforesaid financial statements give the information required by the
Companies Act, 2013 (‘Act) in the manner so required and give a true and fair view
in conformity with the accounting principles generally accepted in India, of the state of
affairs of the Company as at March 31, 2023, its Profit and cash flows for the year ended
on that date.
Basis for opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified
under section 143(10) of the Companies Act, 2013, as amended ("the Act). Our
responsibilities under those Standards are further described in the "Auditors
Responsibilities for the Audit of the Standalone Financial Results" 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 requirements
that are relevant to our audit of the financial statements under the provisions of the Act
and the Rules there under, and we have fulfilled our other ethical responsibilities in
accordance with these requirements and the Code of Ethics. We believe that the audit
evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.
Key Audit Matters:
Key audit matters are those matters that, in our professional judgment, were of most
significance in our audit of the Standalone Ind AS financial statements for the financial
year ended March 31, 2023. These matters were addressed in the context of our audit of the
Standalone Ind AS financial statements as a whole, we do not provide a separate opinion on
these matters.
Managements Responsibility for the Financial Statements
The Statement has been prepared on the basis of the annual standalone financial
statements for the year ended March 31, 2023. The Board of Directors of the Company are
responsible for the preparation and presentation of the Statement that give a true and
fair view of the Profit and other comprehensive income and other financial information in
accordance with the applicable accounting standards prescribed under Section 133 of the
Act read with relevant rules issued there under and other accounting principles generally
accepted in India and in compliance with Regulation 33 of the Listing Regulations, 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
accounting policies; making judgments and estimates that are reasonable and prudent; and
the 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 Statement that give a true
and fair view and are free from material misstatement, whether due to fraud or error.
In preparing Statement, the Board of Directors are responsible for assessing the
Companys ability to continue as a going concern, disclosing, as applicable, matters
related to going concern and using the going concern basis of accounting unless the Board
of Directors either intends to liquidate the Company or to cease operations, or has no
realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Companys financial
reporting process.
Auditors Responsibilities for the Audit of the Standalone Financial Results
Our responsibility is to express an opinion on these 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 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 financial control relevant to the Companys preparation of the
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 Companys 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 on the financial statements.
Report on other Legal and Regulatory Requirements
1. As required by the Companies (Auditors Report) Order, 2020 (“the
Order”) issued by the Central Government in terms of Section 143 (11) of the Act, we
give in the Annexure -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 an explanation which is to the best of our knowledge
and beliefs 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. c) The Balance Sheet, the 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 aforesaid financial statements comply with the Accounting Standards
specified under Section 133 of the Act, read with the Companies (Indian Accounting
Standard) Rules, 2015, as amended e) On the basis of written representations received from
the directors as on 31 March, 2023, taken on record by the Board of Directors, none of the
directors is disqualified as on 31st March, 2023, from being appointed as a
director in terms of Section 164(2) of the Act. f) With respect to the other matters
included in the Auditors Report and to our 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 financial position. ii. The Company did not have any long-term contracts
including derivatives contracts for which there were any material foreseeable losses. iii.
There is no amount required to be transferred, to the investors education &
Protection Fund by the Company.
For, G M C A & Co.
Chartered Accountants FRN: 109850W
CA. Mitt S. Patel
Place: Ahmedabad (Partner)
Date: 22nd May 2023
Membership No. 163940
UDIN : 23163940BGPZMP8907
Annexure: A
Reports under The Companies (Auditors Report) Order, 2020 (CARO 2020) for the year
ended on 31st March, 2023
Referred to in paragraph 1 under heading “Report on other legal and regulatory
requirements” of our report of even date,
(i) (a) The Company has maintained proper records showing full particulars, including
quantitative details and situation of fixed assets.
(b) All the fixed assets were physically verified by the management during the year. We
are informed that no material discrepancies were noticed on such verification.
(c) The title deeds of the immovable property are in the name of the Company.
(d) The Company has not revalued its property, plant and equipment .
(e) There are no proceedings have been initiated against the company for holding any
benami property under the Benami Transactions (Prohibition) Act , 1988 and rules made
thereunder.
(ii) The inventories have been physically verified during the year by management. In
our opinion, the frequency of verification is reasonable and the coverage and procedure
for such verification is appropriate. As explained to us, there were no material
discrepancies noticed on physical verification of inventories as compared to the book
records.
(iii) The Company has neither made investments in nor provided any guarantee or
security or granted any loans, secured or unsecured to Companies, firms and LLPs or any
other entity covered in the register maintained under Section 189 of the Act.
Consequently, requirement of clauses (iii,a), (iii,b) , (iii,c), (iii,d), (iii,e) and
(iii, f) of paragraph 3 of the order are not applicable.
(iv) As regard loans, investments, guarantees, and security, the provisions of section
185 and 186 of the Companies Act, 2013 have been complied with.
(v) In our opinion and according to the information and explanations given to us, the
Company has not accepted any deposits within the meaning of any directives issued by the
Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevant
provisions of the Act and the Rules framed thereunder.
(vi) The maintenance of the Cost records is not applicable to the Company as per
Companies (Cost Records and Audit) Rules,2014 prescribed by the Central Government under
Section 148(1) of the Companies Act,2013.
(vii) (a) The Company is regular in depositing with appropriate authorities undisputed
statutory dues Including Goods and Services Tax, Provident Fund, Employees state
insurance, Income Tax, sales-tax, Service Tax, duty of customs, duty of excise, value
added tax, cess and any other statutory dues applicable to it. According to the
information and explanations given to us, no undisputed amounts payable in respect of
outstanding statutory dues were in arrears as at March 31, 2023 for a period of more than
six months from the date they become payable.
(b) There are no any amounts under dispute which are required to be deposited by 31st
March,2023.
(viii) There are no transaction which are not recorded in the books of account which
have been surrendered or disclosed as income during the year in the tax assessment under
the Income tax Act 1961.
(ix) According to the information and explanations given to us, the Company has neither
defaulted in repayment of dues to nor declared defaulter by the Banks, Financial
Institutions or any other lender. The Company has applied the term loan fund for the
purpose for which it has been raised. No short term funds have been utilized for long term
purposes. Company has not taken any funds from any entity or person on account of or to
meet obligation of others. Company has not raised loans during the year on the pledge of
securities held in any other company.
(x) To the best of our knowledge, belief and information and explanations given to us
the Company has not raised the moneys by initial public offer or further public offer or
by any preferential allotment or private placement of shares or convertible debentures.
(xi) To the best of our knowledge and belief and according to information and
explanations given to us, no fraud by the Company or any fraud on the Company has been
noticed or reported during the year. No report by the auditors under section 143(12) of
the Companies Act in the Form ADT-4 as prescribed under rule 13 of Companies (Audit and
Auditors ) Rules, 2014, has been filed with the Central Government. During the year
Company has not received any whistle-blower complaints during the year.
(xii) As the Company is not a Nidhi Company, the paragraph (xii) is not applicable to
the company.
(xiii) As per our belief and information and explanations provided to us, all
transaction to the related parties are in compliance with section 177 and 188 of Companies
Act, 2013 where applicable and the details have been disclosed in the Financial Statements
etc. as required by the applicable accounting standards.
(xiv) The Company has internal audit system commensurate with the size and nature of
its business. The reports of internal auditors have been considered by the statutory
auditors.
(xv) As informed to us and as per information and explanations given to us, the company
has not entered In to any non cash transactions with directors or persons connected with
them as per provisions of Section 192 of the Companies Act, 2013.
(xvi) In our opinion the company is not required to be registered under section 45IA of
the RBI Act, 1934.
(xvii) Company has neither incurred cash losses in the financial year also nor in the
immediately preceding Financial year.
(xviii) There is no resignation of the statutory auditors during the year.
(xix) On the basis of the financial ratios, ageing and expected date of realization of
financial assets and payment of financial liabilities, other information accompanying the
financial statements and knowledge of the Board of Directors and management plans, we are
of the opinion that no material uncertainty exists as on the date of audit report that
company is capable of meeting its liabilities existing at the date of balance sheet as and
when they fall due within a period of one year from the balance sheet date.
(xx) As Provision of section 135(5) of the Companies Act, is not applicable to Company,
this clause is not applicable to the Company.
(xxi) As this is the standalone financial statements of the company, the provisions of
this clause is not applicable to the Company.
For, G M C A & Co.
Chartered Accountants
FRN: 109850W
CA. Mitt S. Patel
Place: Ahmedabad (Partner)
Date: 22nd May 2023
Membership No. 163940
UDIN : 23163940BGPZMP8907
Annexure: B
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section
143 of the Companies Act, 2013 (“the Act”)
We have audited the internal financial controls over financial reporting of M/S. Unick
Fix-A-Form & Printers Ltd.(“the Company”) as of March 31, 2023 in
conjunction with our audit of the standalone financial statements of the Company for the
year ended on that date.
Managements Responsibility for Internal Financial Controls
The Companys management is responsible for establishing and maintaining internal
financial controls. These responsibilities include the design, implementation and
maintenance of adequate internal financial controls that were operating effectively for
ensuring the orderly and efficient conduct of its business, including adherence to
companys policies, the safeguarding of its assets, the prevention and detection of frauds
and errors, the accuracy and completeness of the accounting records, and the timely
preparation of reliable financial information, as required under the Companies Act, 2013.
Auditors Responsibility
Our responsibility is to express an opinion on the Companys internal financial
controls over financial reporting based on our audit. We conducted our audit in accordance
with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
(the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed
to be prescribed under section 143(10) of the Companies Act, 2013, to the extent
applicable to an audit of internal financial controls, both applicable to an audit of
Internal Financial Controls and, both issued by the Institute of Chartered Accountants of
India. Those Standards and the Guidance Note require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether
adequate internal financial controls over financial reporting was established and
maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of
the internal financial controls system over financial reporting and their operating
effectiveness. Our audit of internal financial controls over financial reporting included
obtaining an understanding of internal financial controls over financial reporting,
assessing the risk that a material weakness exists, and testing and evaluating the design
and operating effectiveness of internal control based on the assessed risk. The procedures
selected depend on the auditors judgement, including the assessment of the risks of
material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinion on the Companys internal financial controls system
over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A companys internal financial control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with generally
accepted accounting principles. A companys internal financial control over financial
reporting includes those policies and procedures that (1) pertain to the maintenance of
records that, in reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation of financial statements in
accordance with generally accepted accounting principles, and that receipts and
expenditures of the company are being made only in accordance with authorisations of
management and directors of the company; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorised acquisition, use, or disposition of the
companys assets that could have a material effect on the financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial
reporting, including the possibility of collusion or improper management override of
controls, material misstatements due to error or fraud may occur and not be detected.
Also, projections of any evaluation of the internal financial controls over financial
reporting to future periods are subject to the risk that the internal financial control
over financial reporting may become inadequate because of changes in conditions, or that
the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal
financial controls system over financial reporting and such internal financial controls
over financial reporting were operating effectively as at March 31, 2023.
For, G M C A & Co.
Chartered Accountants FRN: 109850W
CA. Mitt S. Patel
Place: Ahmedabad (Partner)
Date: 22nd May 2023
Membership No. 163940
UDIN: 23163940BGPZMP8907
+91-9892691696
