Bootes Impex Tech Ltd Shares

Financial Report Summary

Kumar Gaurav & Co., Chartered Accountants, has issued an Independent Auditor’s Report for BOOTES IMPEX TECH PRIVATE LIMITED, focusing on the audit of the company's standalone financial statements as of March 31, 2023. The auditor's opinion, based on their audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013, states that the financial statements present a true and fair view of the company's state of affairs, profit, and cash flows in conformity with accounting principles generally accepted in India. The audit firm believes the audit evidence obtained is sufficient and appropriate to provide a basis for their opinion.

The report details the responsibilities of the Board of Directors, including preparing financial statements that give a true and fair view in accordance with accounting principles generally accepted in India, maintaining adequate accounting records, and designing and implementing effective internal financial controls. Management is responsible for assessing the company's ability to continue as a going concern.

The auditor's responsibilities include obtaining reasonable assurance about whether the financial statements are free from material misstatement, whether due to fraud or error. The report also includes details on the auditor's approach, including risk assessment, understanding internal control, evaluating accounting policies, and concluding on the appropriateness of management's use of the going concern basis of accounting.

Other Legal and Regulatory Requirements: Proper books of account have been kept by the Company as required by law. The Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement are in agreement with the books of account. The financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. Based on written representations from the directors, none are disqualified from being appointed as a director under Section 164 (2) of the Act. The company does not have any pending litigations which would impact its financial position. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company. The management has represented that no funds have been advanced or loaned or invested by the company to any other person or entity. No dividend have been declared or paid during the year by the company.

Financial Position (as of March 31, 2023): The company's equity and liabilities consist of shareholders' funds (share capital of Rs 1,000 and reserves and surplus of Rs 37,597.05), non-current liabilities, and current liabilities (short term borrowings of Rs 125,999, trade payables, other current liabilities of Rs 260,663.59 and short term provisions of Rs 25,245.11), totaling Rs 457,152.33. The assets consist of non-current assets (property plant and equipment of Rs 12,431.33), non-current investments of Rs 1,489.00 and current assets (trade receivables of Rs 268,911.92, cash and cash equivalents of Rs 4,124.35, short term loans & advances of Rs 168,320.16, and other current assets of Rs 1,856.09), totaling Rs 457,152.33.

Statement of Profit and Loss: The company's revenue from operations is Rs 414,691.61, and other income is Rs 23,604.52. The cost of material consumed is Rs 70,676.15, personnel and employee benefit expenses are Rs 169,740.18, depreciation & amortization expense is Rs 4,971.05, and other expenses are Rs 157,945.69. The profit before tax is Rs 34,963.06. After accounting for current tax (Rs 9,110.09), the profit after tax is Rs 25,872.44.

Other Key Points: Share Capital: Authorized share capital is Rs 10,000. Issued, subscribed, and paid-up capital is Rs 1,000. Deepak Kumar Rai holds 95% of the shares, and Vishal Agarwal holds 5%. Trade Payables: Total outstanding dues of micro enterprises and small enterprises: Rs 6,647.58. Trade Receivables: Trade receivables amount to Rs 268,911.92 and aging is provided. Loans and Advances: Short-term loans and advances total Rs 168,320.16. The Director's report provides additional context, stating that the net profit has increased compared to the previous year. No dividend is recommended for the year ended March 31, 2023. Manab Rakshit was appointed as Director on August 22nd, 2022. The company is also in compliance with corporate governance practices. The report confirms adherence to accounting standards and a commitment to adequate internal controls. They did not accept any deposits from the members/Director's/public. No fraud was reported by the auditor. The company is aware of energy conservation. The directors are Deepak Kumar Rai, Vishal Agarwal, and Manab Rakshit. Kumar Gaurav & Co., Chartered Accountants, has been appointed as the statutory auditor.