| We have audited the accompanying financial statements of ATLANTA DEVCON
LIMITED which comprise the Balance Sheet as at 31 March 2015,the
Statement of Profit and Loss, the Cash Flow Statement for the year then
ended,and a summary of significant accounting policies an do ther
explanatory information.
Management's Responsibility for the Financial Statements
The Company's Board of Directors is responsible for the matters stated
in section 134(5) of the Companies Act,2013 ("theAct") with respect to
the preparation of these financial statements that give a true and fair
view of the flnancial position, flnancial performance and cashflows of
the Company in accordance with the accounting principles generally
accepted in India, induding the Accounting Standards specifled under
Section 133 of the Act,read with Rule 7 of the Companies (Accounts)
Rules,2014. This responsibility also includes the maintena nce 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 frauds and otherirregularities;selectionand application of
appropriate accounting policies; making judgments and estimates that are
reasonable and prudent; and design,implementation and mainte nance of
adequate internal flnancial control,that were operating effectively for
ensuring the accuracy a nd completeness of the accounting records,
relevant to the preparation and presentation of the financials tatements
that give atrue and fairviewand are free from material misstatement,
whetherdue to fraud orerror.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial
statementsbased on ouraudit.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 Rule smade there under.
We conducted our audit in accordance with the Standards on Auditing
specified undersection143(10) of the Act.Those Standards requirethat we
comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether the financial statements are
free frommat erialmisstatement.
Anaudit involves performing procedures to obtain audit evidence about
the a mounts and disclosures in the financial statements. The procedures
selected depend on the auditor's judgment,including the assessment of
the risks of material misstatement of the financial statements, whether
due to fraudor error. Inmaking those risk assessments,the auditor
consider sinternal financial control relevant to theCompany's prepar
ation of the financial statements that give true and fair viewin order
to design audit procedures that are appropriate in the cir cumstances,
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 the operating effectiveness of such controls. An
audit also include sevaluating 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 aba sisfor our audit opinion on the financial
statements.
Opinion
In our opinion and to the best of our information and according to the
explanations given t ous,th eaforesaid financial statements, give the
information required by the Act in the manners ore qui redandgive a
true and fairviewin conformity with the accounting principles generally
accepted in India;
a) In the case of the Balance Sheet, of thestate of affairs of the
Company as at March 31, 2015;
b) In the case of the Statement of Profit and Loss, of the profit for
the year ended on that date; and
c) In the case of the Cash Flow Statement, ofthe cash flows for the
year ended on that date.
Report on other Legal and Regulatory Requirements
1.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 o urknowledge and belief were necessary for the
purposes of our audit.
b) In our opinion proper books of account as required bylaw 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 deal twith by this Report are in agreement with the books of
account.
d) In our opimon,the afore said fmancial statements comply with the
Accounting Stand ar ds specifled under Section 133 of the Act, read
with Rule 7 of theCompanies(Accounts) Rules, 2014.
e) On the basis of written representations received from the directors
ason31March,201 5,takenon record by the Board of Directors,none of the
directors is disqualifled as on 31 March, 2015, from being appointed as
a directoin terms of Section 164(2) of the Act
Sd/-
Place: AHMEDABAD. For Praful N. Shah & Co.
Date: 13-05-2015 Chartered Accountants
(FRN NO.:108057W)
Praful N. Shah
(Proprietor)
M. No. - 015591
Flat No.2,First Floor,10 Residency,
Opp. Komal Flats,Nr.Suraj Party Plot,
Sugam Flats Road, Vasna,
Ahmedabad-380007.
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