We have audited the accompanying financial statements of
Accent Microcell Limited ("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
(hereinafter referred to as "financial statements").
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 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
profit 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 (ICAI) 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 thereunder, and we have fulfilled our other
ethical responsibilities in accordance with these requirements
and the ICAI's Code of Ethics. We believe that the audit evidence
obtained by us is sufficient and appropriate to provide a basis
for our opinion on the financial statements.
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 financial year ended 31st March 2025. In our
opinion, there is no Key Audit Matter to be reported.
Information Other than the Financial Statements and
Auditor's Report Thereon
The Company's Board of Directors is responsible for the other
information. The other information comprises the information
included in the Board's report and Annexure to Board's Report
but does not include the financial statements and our auditor's
report thereon. The other information is expected to be made
available to us after the date of this auditor's report.
Our opinion on the financial statements does not cover the
other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the financial statements, our
responsibility is to read the other information identified above
when it becomes available and, in doing so, consider whether
the other information is materially inconsistent with the financial
statements or our knowledge obtained during the audit, or
otherwise appears to be materially misstated.
Management's Responsibility for the Financial Statement
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 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
read with the Companies (Accounting Standard) Rules, 2015, as
amended.
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
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
statements 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.
Those Board of Directors are also responsible for overseeing the
Company's financial reporting process.
Auditor's Responsibilities 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 statements.
As part of an audit in accordance with SAs, we exercise
professional judgment and maintain professional skepticism
throughout the audit. We also:
• Identify and assess the risks of material misstatement of
the 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.
• Evaluate the appropriateness of accounting policies used
and the reasonableness of accounting estimates and
related disclosures made by management.
• Conclude on the appropriateness of management's 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 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 ("the order") issued by the Central Government
in terms of Section 143(11) of the Act, we give in
"Annexure A" a statement on the matters specified in
paragraphs 3 & 4 of the Order to the extent applicable.
2. As required by Section 143(3) of the Act, we report that:
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.
(a) 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.
(b) The Balance Sheet, Profit and Loss and Cash Flow
Statement dealt with by this Report are in agreement
with the books of account.
(c) In our opinion, the aforesaid financial statements
comply with the Accounting Standards prescribed
under Section 133 of the Act, read with Companies
(Accounting Standards) Rules, 2015 as amended.
(d) On the basis of the written representations received
from the directors as on 31st March, 2025 taken on
record by the Board of Directors, none of the directors
is disqualified as on 31st March, 2025 from being
appointed as a director in terms of Section 164 (2) of
the Act.
(e) With respect to the adequacy of the internal
financial controls with reference to financial
statements of the Company and the operating
effectiveness of such controls, refer to our separate
Report in "Annexure B". Our report expresses
an unmodified opinion on the adequacy and
operating effectiveness of the company's internal
financial control with reference to financial
statements.
(f) With respect to the other matters to be included in the
Auditor's Report in accordance with the requirements
of section 197(16) of the Act, as amended:
In our opinion and to the best of our information and
according to the explanations given to us, managerial
remuneration has been paid / provided by the company
to its directors in accordance with the provisions of
section 197 read with Schedule V to the Act.
(g) 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,
as amended, 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 other than those disclosed in Note
31.1 of Financial Statement 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's education and
protection fund by the company.
IV. (a) The Management has represented that,
to the best of their knowledge and belief,
other than as disclosed in the notes to
the accounts if any, 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,
whether recorded in writing or otherwise,
that the Intermediary shall, whether,
directly or indirectly lend or invest in
other persons or entities identified in any
manner whatsoever by or on behalf of
the company ("Ultimate Beneficiaries") or
provide any guarantee, security or the like
on behalf of the Ultimate Beneficiaries;
(b) The management has represented, that,
to the best of their knowledge and belief,
other than as disclosed in the notes
to the accounts if any, no funds have
been received by the company from
any person(s) or entity (ies), including
foreign entities ("Funding Parties"), with
the understanding, whether recorded in
writing or otherwise, that the 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 any
guarantee, security or the like on behalf
of the Ultimate Beneficiaries; and
Based on such audit procedures, nothing
has come to our notice that has caused
them to believe that the representations
under sub-clause (i) and (ii) of Rule 11(e),
as provided under (i) & (ii) above contain
any material mis-statement.
V. The final dividend paid by the Company during
the year in respect of the same declared for the
previous year is in accordance with section 123
of the Act to the extent it applies to payment of
dividend.
VI. Based on our examination which included test
checks, the company has used the accounting
software for maintaining its books of account
for the financial year ended 31 March, 2024
which has a feature of recording audit trail (edit
log) facility for all the relevant transactions and
the same is operational throughout the year
for all relevant transactions recorded in the
software. Further during the course of our audit,
we did not come across any instance of audit
trail feature being tampered with, in respect of
accounting software for the period for which
audit trail feature was enabled and operating.
As the proviso to Rule 3(1) of the Companies
(Accounts) Rules, 2014 became applicable from
1st April, 2023, the reporting under Rule 11(g) of
the Companies (Audit and Auditors) Rules, 2014
regarding the preservation of audit trail as per
the statutory requirements for record retention
is applicable for the financial year ending 31st
March, 2025. The Company has preserved the
audit trail in accordance with the applicable
statutory requirements.
For T R Chadha & Co LLP
Chartered Accountants
Firm's Reg. No-: 006711N/N500028
Brijesh Thakkar
(Partner)
Place: Ahmedabad Membership No-135556
Date: 09/05/2025 UDIN: 25135556BMIIMR8533
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