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R. BHASKARA RAO B.com., F.C.A. Charted Accountant
I have audited the attached Balance Sheet of the The Advocates Mutually Aided Cooperative Society Ltd., Hyderabad as at 3-03-2006 along with the Income and Expenditure Account for the year ended as on that date. These financial statements are the responsibility of the Society’s management. My responsibility is to express and opinion on these financial statements based on my audit.
I have conducted my audit in accordance with auditing standards generally accepted in India. Those standards require that I plan and perform the audit reasonable assurance about misstatements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluated the overall financial statements presentation. I believe that my provides a reasonable basis for my opinion.
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Further I state that:
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I have obtained all the information and explanations which to the best of my knowledge and belief were necessary for the purpose of my audit. |
| b) |
In my opinion proper books of accounts as required by the law have been kept by the society in so far as it appears from my examination of such books. |
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The Balance Sheet and Income and Expenditure Account referred to in this report are in agreement with books and accounts. |
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In my opinion, the Balance Sheet and the Income and Expenditure Account dealt with by this report comply with the accounting standards prescribed by the Institute of Chartered Accounts of India. |
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In my opinion and to the best of my information and according to the explanation given to me, the said Balance Sheet and Income & Expenditure Account read together with the schedules thereon give the information required by the relevant Act, in the manner so required give a true and fair view conformity with the according principles generally accepted in India.
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In so far as it relates to the Balance Sheet of the state of affairs of the society as at 31.03.2006; and
In so far as it relates to the Income and Expenditure Account, of the profit of the society for the year ended on 31.03.2006. |
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THE ADVOCATES MUTUALLY AIDED CO-OPERATIVE SOCIETY LIMITED.
BALANCE SHEET AS ON 31-03-2006
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2006
AMOUNT |
LIABILITIES |
Sch No. |
2006
AMOUNT |
2005
AMOUNT |
ASSETS |
Sch No. |
2006
AMOUNT |
37,49,300 |
Share Capital |
1 |
83,01,600 |
2,56,199 |
Fixed Assets |
4 |
3,74,456 |
53,27,549 |
Reserve fund |
2 |
90,06,616 |
8,75,05,515 |
Current Assets |
5 |
14,32,43,116 |
8,72,72,094 |
Current Liabilities |
3 |
14,19,64,427 |
68,45,415 |
Investment i Land |
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70,90,840 |
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17,41,814 |
Closing Stock |
6 |
85,64,231 |
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9,63,48,943 |
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15,92,72,643 |
9,63,48,943 |
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15,92,72,643 |
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