SVS VENTURES LIMITED CIN : U70100GJ2015PLC08S454
Report on the Financial Statements
We have audited the Financial Statements of SVS VENTURES LIMITED U70100GJ2015PLC085454 ("the Company"), which comprise the Balance Sheet as at 31st March 2025, the Statement of Profit and Loss, 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.
Qualified Opinion
In our qualified 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 ("the Act") in the manner so required and give a true and fair view in conformity with the Accounting Standards prescribed under section 133 of the Act and other accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2025, the Profit and its cash flows for the year ended on that date.
Basis for Qualified Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Act. 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 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 we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.
Our qualified opinion is based on the matters described in Annexure 1 to this report.
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. We have key audit matter to communicate in our report as under:-
1. There were no business activity of main object since 01/10/2023 except securities income.
2. The transactions of loan and advances to related parties & investment in balance sheet no income which are subject to justification of disbursement and recovery, the
of public issue fund may be doubtful & suspicious of recovery.
3. Previous year ITR not filed & no tax paid.
4. Sale / purchase turnover as per GST data are not tallied, hence subject to reconciliation.
5. Stock records / WIP also subject to verification.
6. No Depreciation provided on IPO expense / Goodwill.
7. As informed by the assesse he/it does not have relevant information regarding any micro or small enterprise which is registered under MSME development Act 2006, hence amount due and interest payable is not ascertainable.
8. Details shown in A1S/TIS for sale / receipts and other details are not tallied with books of accounts and subject to reconciliation.
9. Related party transaction disclosed in significant accounting policy, and notes to account.
Information Other than the Standalone Financial Statements and Auditor's Report Thereon
The Company's Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Management Discussion and Analysis, Board's Report including Annexures to Board's Report, Business Responsibility Report, Corporate Governance and Shareholder's Information, but does not include auditor's report thereon.
Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Except remarks stated in Annexure - 1.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, considered whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appeal's to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have reported in Annexure - 1 and in key matters.
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