We have audited the accompanying Standalone financial
statements of "M/s. Annapurna Swadisht Limited" which
comprises the Balance Sheet as at March 31, 2025, the
Statement of Profit and Loss and the Statement of Cash
Flow for the period then ended, Statement of changes in
equity 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
standalone 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, of the state of affairs
of the Company as at March 31,2025 and its Profit , changes
in equity and its 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. Our responsibilities under
those Standards are further described in the Auditor's
Responsibilities for the Audit of the Financial Statements
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 Companies Act,
2013 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 we have obtained 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
financial statements of the current period. These matters
were addressed in the context of our audit of the financial
statements as a whole, and in forming our opinion thereon,
and we do not provide a separate opinion on these matters.
Responsibility of Management for
the Standalone Financial Statements
The Company's 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 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
the Accounting Standards specified under Section 133
of the Act. 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
implementation and maintenance of 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 financial statement that give a true and
fair view and are free from material misstatement, whether
due to fraud or error.
In preparing the financial statements, management is
responsible for assessing the Company's ability to continue
as a going concern, disclosing, as applicable, matters
related to going concern and using the going concern
basis of accounting unless management 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 company's financial reporting process
Auditor's Responsibility for the Audit of the
Financial Statements
Our objectives are to obtain reasonable assurance about
whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error,
and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but is not
a guarantee that an audit conducted in accordance with
SAs will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they
could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial
results. As part of an audit in accordance with SAs, we
exercise professional judgment and maintain professional
scepticism throughout the audit. We also:
• Identify and assess the risks of material misstatement
of the standalone financial statements, whether due
to fraud or error, design and perform audit procedures
responsive to those risks, and obtain audit evidence
that is sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a material
misstatement resulting from fraud is higher than for
one resulting from error, as fraud may involve collusion,
forgery, intentional omissions, misrepresentations, or
the override of internal control
• Obtain an understanding of internal control relevant
to the audit in order to design audit procedures that
are appropriate in the circumstances. Under section
143(3)(i) of the Companies Act, 2013, we are also
responsible for expressing our opinion on whether
the company has adequate internal financial controls
system in place and the operating effectiveness of
such controls.
• Conclude on the appropriateness of Board of
Directors use of the going concern basis of accounting
and, based on the audit evidence obtained, whether
a material uncertainty exists related to events or
conditions that may cast significant doubt on the
Company's ability to continue as a going concern. If
we conclude that a material uncertainty exists, we
are required to draw attention in our auditor's report
to the related disclosures in the financial statements
or, if such disclosures are inadequate, to modify our
opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor's
report. However, future events or conditions may
cause the Company to cease to continue as a going
concern.
• Evaluate the appropriateness of accounting policies
used and the reasonableness of accounting estimates
and related disclosures made by management.
• Evaluate the overall presentation, structure and
content of the financial statements, including the
disclosures, and whether the financial statements
represent the underlying transactions and events in a
manner that achieves fair presentation.
We communicate with those charged with governance
regarding, among other matters, the planned scope and
timing of the audit and significant audit findings, including
any significant deficiencies in internal control that we
identify during our audit.
We also provide those charged with governance with
a statement that we have complied with relevant
ethical requirements regarding independence, and to
communicate with them all relationships and other
matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
From the matters communicated with those charged with
governance, we determine those matters that were of most
significance in the audit of the financial statements of the
current period and are therefore the key audit matters. We
describe these matters in our auditor's report unless law or
regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, we determine that a
matter should not be communicated in our report because
the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such
communication.
Report on Other Legal and Regulatory
Requirements
1. As required by the Companies (Auditor's Report)
Order, 2020 (Revised 2022), issued by the Central
Government of India in terms of sub-section (11)
of section 143 of the Act (hereinafter referred to as
the "Order"), and on the basis of such checks of the
books and records of the Company, we give in the
"Annexure A" statement on the matters specified
in the paragraph 3 and 4 of the order, to the extent
applicable.
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 it appears from our examination of
those books;
c. the Balance Sheet, the Statement of Profit and
Loss, Changes in Equity and the Statement
of Cash Flow 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 Rule 7 of
the Companies (Accounts) Rules, 2014.
e. On the basis of the written representations
received from the directors for period 31st March,
2025 taken on record by the Board of Directors,
none of the directors is disqualified for the
period 31st March, 2025 from being appointed
as a director in terms of Section 164(2) of the
Act; and
f. With respect to unfavourable or qualified audit
report of the company, refer to our separate
report in Annexure A,
g. With respect to adequacy of internal financial
controls over financial reporting of the Company
and the operating effectiveness of such controls,
refer to our separate report in "Annexure B".
h. With respect to the other matters to be included
in the Auditor's 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 does not have any pending
litigations which would impact its financial
position.
ii. The Company did not have any long-term
contracts including derivative 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. (i) The management has represented that
to the best of its knowledge and belief,
no funds have been advanced or loaned
or invested (either from borrowed funds
or share premium or any other sources
or kind of funds) by the company to or in
any other person(s) or entities, including
foreign entities ("Intermediaries"), with the
understanding that the intermediary shall
whether directly or indirectly lend or invest
in other persons or entities identified in any
manner by or on behalf of the company
(Ultimate Beneficiaries) or provide any
guarantee, security or the like on behalf of
ultimate beneficiaries;
(ii) The management has represented that
to the best of its knowledge and belief no
funds have been received by the company
from any person(s) or entities including
foreign entities ("Funding Parties" with the
understanding that such company shall
whether, directly or indirectly, lend or invest
in other persons or entities identified in any
manner whatsoever by or on behalf of the
funding party (ultimate beneficiaries) or
provide guarantee, security or the like on
behalf of the
Ultimate beneficiaries; and
(iii) Based on the audit procedures performed,
nothing has come to our notice that
has caused us to believe that the above
representations given by the management
contain any material mis-statement.
(v) No dividend declared or paid during the year by
the Company as per section 123 of Companies
Act 2013.
(vi) Based on our examination, which included test
checks, the Company has not used accounting
software for maintaining its books of account for
the financial year ended March 31, 2025, which
has a feature of recording audit trail (edit log)
facility.
Further, during the financial year under audit, the
company is in the process of transiting the accounting
software from tally to SAP.
Proviso to Rule 3(1) of the Companies (Accounts)
Rules, 2014 for maintaining books of account
using accounting software which has a feature of
recording audit trail (edit log) facility is applicable to
the company with effect from April 1, 2023, but the
company has not enabled the software because of
transiting the Tally to SAP.
Reporting under Rule 11(g) of the Companies (Audit and
Auditors) Rules, 2014 on preservation of audit trail as per
the statutory requirements for record retention is not
applicable for the financial year ended March 31,2025
For Agarwal Khetan & Co
Chartered Accountants
Firm Reg. No. 330054E
Place: Kolkata FCA Ritesh Agarwal
Date: 29-05-2025 (Partner)
UDIN: 25311866BMIJZI4527 M. No. 311866
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