Copy of Stock Audit - Kay Ess

7/21/2019 Copy of Stock Audit - Kay Ess

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MalhotraRajiv &Co.Chartered

Accountants

#761, Sector-22-AChandigarh

172-27!"6,

272611

STOCK AUDIT REPORT

Report Ref. No.: CH-S012/14-15 Date : 2-0-2015

!ORRO"ER IN#OR$ATION

!orro%er Na&e $/S KA' ESS SUR(ICO

Re)*/ Corporate Off+,e SECTOR-12-A IA(E RA'PANCHKUA HAR'ANA

o,at+o3 +3+te*

SECTOR-12-A IA(E RA'PANCHKUA HAR'ANA

Oter 6o,at+o3 $AINE PA!HAT ROAD NEAR U.S.. TD 7IRAKPUR DISTT. $OHAI P!

Per3o3 ,ota,te* $r .HARINDER (UPTA

$IS *ate: 1.01.2015 Sto,8 er+f+e* o:21-0-2015

!ANKIN( #ACIIT' R3. I 6a83

SN Nat9re of fa,+6+t +&+t-a3 o *ate 21.0.2015

Sa,t+oe* !a6a,e D.P.;

1

2

Ca3 Cre*+t

!.(

50.00

150.00

<4.1= 410.=4

Tota6 500.00 <4.1= 410.=4

;A>oe DP +3 ,a6,96ate* o te >a3+3 of 3to,8 3tate&et 39>&+tte* > part.

PRI$AR' SECURIT' PROIDED *ata a3 pro+*e* > #+r& for 21.0.2015

SN Nat9re of Se,9r+t R3. I 6a,3

1 Sto,83 <?.00

2 - Cre*+tor3; 1=.@

De>tor3; 525.52

Total 783.89

COATERA SECURIT' PROIDED +for&at+o a3 pro+*e* > f+r&

SN Nat9re of Se,9r+t R3. I 6a,3

1. EB9+ta>6e $ort)a)e of (o*o% o 2<5O%e* > Rae3 K9&ar Ra&e3 K9&ar Sat+3 K9&ar

at Se,tor-2@ Ca*+)ar

51.@?



AUDIT ASSESSMENT

• Overall audit assessment (overall observationsan! adverse remar"s#

Sto,8 of Par&a,e9t+,a63 Ite&3 are ,e,8e* p3+,a66 er+f+e* > 93. Te 3a+* 3to,8 +3 er+f+e*

> 93 fro& te 3a6e a* p9r,a3e >+66 pro+*e* to 93.

Te are &a+ta++) ,o&p9ter+3e* 3to,8 re,or* at te+r off+,e.

Te p3+,a6 er+f+,at+o of 3to,8 at Pa,896a/ 7+ra8p9r a3 >ee ,arr+e* o > 93 a* te 3a&e a3

>ee fo9* to >e 9p to 3at+3fa,tor 6ee6.

"e ae er+f+e* te *ate3 of 3to,8 3tate&et3 39>&+tte* to te >ra, a* 3a&e are fo9* to >e

39>&+tte* %+t+ 3t+p96ate* *ate3.

Sa6e3 *9r+) te per+o* Sep-14 to #e>-2015 %ere R3 12=?.00 6a,3 a* te ,orre3po*+) Depo3+t3 +

te HD#C Ca3 Cre*+t A/, of R3. 14.<< 6a,3.

• Audit $imitations

Te 3,ope of a9*+t a3 >ee ,of+e* to te Sto,8 A9*+t Report #or&at pro+*e* a* o te >a3+3 of

te3t ,e,8 ,o*9,te* > 93 of ea&+at+o of te >oo83 a* Re,or*3 of te Co&pa.

Te a>oe report +3 >a3e* o te +for&at+o re,or* a* ep6aat+o3 )+e to 93 > te

&aa)e&et.



INT%ODU&TION

'..

• )istro! * +a,"-round

The Firm Kay Ess Surgico Was Established In 2004 As Partnership Firm Anda!ing Its "egistered #$ce At %ha&&ar "oad' (ind' And aryana) The %ompanyWor&ed As %onsignee #* Sangam ealth %are For The State #* aryana) In +ay200,' The %ompany Was Appointed As A -istributor #* "anba.y /lue " -i!isionFor The State #* aryana) In Fy 200,01' The %ompany Shi*ted Its /usinessFrom (ind To Panch&ula In aryana) In Fy 20010 The %ompany Was Also

Appointed As -istributor #* 3upin For aryana State) In 200' the %ompanyWas Appointed As onal -istributor #* "anba.y 3abs 3td) For The State #* aryana' Pun5ab' %handigarh' (ammu 6 Kashmir and imachal Pradesh)

The %ompany as %hanged Its %onstitution From Partnership To ProprietorshipW)E)F) 07042008) As %on9rmed /y %ustomer +r) Abhishe& :arg Was AddedInto Partnership #* As At The Time #* Appointment #* -istributionship +r) ;itin:arg Was ;ot A :raduate And -id ;ot +eet The "e<uisite =uali9cations)Accordingly #n %ompletion o* :raduation' The Partnership Was -issol!ed And+r) ;itin :arg Is ;o> The Proprietor o* the Firm)

The %ompany?S ead #$ce Is 3ocated at Sector 72A' @illage "ally' Panch&ula)

The %ompany as T>o :odo>ns #ne Is At Pabhat' ira&pur And #ther Is At"ally' Sector 72A Panch&ula) /oth Are #* Appro.imately 4000 S<) Ft) Each) The3ocation #* aryana Is /eing +anaged From Panch&ula And All The #ther 4States Are /eing andled From ira&pur As Per "anba.y Policy) The %ompanyas Sales Filed Force #* , Persons And #$ce Sta #* , Persons) Apart From

That There Are Super!isors And elpers In :odo>ns And Their Total ;umber Is) The Field Forces #* The %ompany @isits The %ustomer #n Wee&ly /asis%ollect Their #rders) The #rdered Products Are Then Sent Through Transport)Field Force %ollects the %he<ues *rom the Parties and -eposit the Same in /an&Account at the Same 3ocation

• Nature o +usiness and /rodu,ts Dealt In

Te Co&pa I3 Dea6+) I D+3tr+>9t+o Of Par&a,e9t+,a6 Pro*9,t3. Te Co&pa I3 7oa6 D+3tr+>9tor Of Ra>a

a>orator+e3 t*. #or te Pro*9,t3 $ar8ete* ! Co&paF3 !69e R D++3+o !69e R Pre&+9& D++3+o A* !69e R

C6a33+,3 D++3+o.

• Mana-ement and /romoters

$r. N+t+ (ar) te Propr+etor Of Te #+r& I3 A 'o9) (ra*9ate Ha+) Eper+e,e Of @ 'ear3 I Te +e Of

A,t++t. D9e to H+3 A)e Co3tra+t He I3 !e+) He6pe* ! H+3 $atera6 U,6e S So $r. Pa8a (oe6 a* H+3

!roter + a% $r. Rae3 K9&ar "o Are $a+6 Ha*6+) te Affa+r3 of te #+r&. A3 Per Cre*+t +3+t Doe At tePre&+3e3 It Ha3 !ee O>3ere* Tat $r. Pa8a (oe6 I3 ar)e6 Ha*6+) Te Affa+r3 of te #+r&.

• Mar"etin- Net0or" 1 Ma2or &ometitors 1 Ot4er Details

$/S I+fa Hea6t,are I3 Te A33o,+ate Co,er Aa+6+) Te ", Epo39re Of R3.0 a,3.Tota6 (ro9p Epo39re To !e

R3.50 a,3.



5.. IN6ENTO% MANAEMENT

5.'. Stora-e a,ilities

Te (o*o%3 are &aa)e* > te a9tor+Ge* per3o.

(o*o%3 are ,6ea proper6 &aa)e* a* are ea3+6 a,+ea>6e.

A66 +te&3 are 8ept + 3afe a* proper ,o*+t+o3.

5.5. /4!si,al verii,ation o sto,"s

B Te Sto,8 at Pa,896a/ 7+ra8p9r a3 >ee te3t ,e,8e* p3+,a66 er+f+e* > 93. Te 3a&e a3 >ee

,e,8e* %+t 3a6e a* p9r,a3e >+663 pro+*e* to 93.

B Sto,8 Re)+3ter3 %ere &a+ta+e* + ,o&p9ter+Ge* for& for #++3e* (oo*3 %+t te 93e of 3oft%are.

B Te p3+,a6 er+f+,at+o of Sto,8 of at Pa,896a/ 7+ra8p9r a3 >ee ,arr+e* o > 93 a* te 3a&e a3 >ee

fo9* to >e 9p to 3at+3fa,tor 6ee6.

B Sto," )oldin- /eriod Deta+6 +3 )+e ere9*er

Mont4 Sale Sto," )oldin-

eriod

::(Da!s#

-E%7, 22,)00 ,70)00

1C

(A;7, 78)00 480)00

,

FE/7, 204)00 4,)00

0

B :: Sto," )oldin- eriod (in da!s# is ,al,ulated i.e. Sto," 1 Sale ; 3

5.3. 6aluation o sto,"s

Te >a3+3 of a69at+o of Sto,8 ,o96* ot >e er+f+e* + te a>3e,e of 39pport+) re,or*3 a* *o,9&etat+o.

!9t a3 per ta a9*+t report pro+*e* to 93 3o% tat a69at+o of 3to,8 +3 *oe o Co3t or Net re6ea3a>6e a69e

%+,eer +3 6e33.



3.. %E&EI6A+$ES AND /AA+$ES MANAEMENT

B DE+TO%S

Mont4 Sales +oo" Debtors

Debtor Turnover

%atio in da!s:

DEC-14

22,)00 ,7)00 1

(A;7,

78)00 ,41)84 CD

FE/7,

204)0

0 ,DD)71 C

NOTE Conclusion:- From the above figures it is clear that Debtor Turnover Ratio (in days) was

maintained between 76 to 83 days which indicates that the firm etension of credit and collection

of account receivable is efficient as it is decrease i!e! from 83 days to 78 days!

B De>tor3 T9roer Rat+o; I Da3 +3 ,a6,96ate* +.e. +oo" debt 1 Sale ; 3

ii# &%EDITO%S

Mont4 /ur,4ase &reditors

&reditor Turnover

%atio in da!s:

DEC-20142D0)00 D8,)28 ,2

AN-2014

718)00 D18),4 11

#E!-2015

7C4)00 D44)44 ,1

B Cre*+tor3 T9roer Rat+o; I Da3 +3 ,a6,96ate* +.e. &reditors 1 /ur,4ase ; 3

Conclusion:- From the above figures it is clear that firm "reditor Turnover Ratio (in days) was

maintained between #$ to #6 days!

<.. %e,ord "eein-

B A,,o9t+) 3oft%are 93e* > te ,6+et: - $ar8

B Te >oo83 of A,,o9t3 are 9p*ate* t+66 2=.02.2015 a3 o te *ate of a9*+t.

=. MIS

B Te f+r& a3 >ee 39>&+tt+) 3to,8 3tate&et to >a8 + *9e *ate.



>. SA$ES * /U%&)ASES

(Rs. In lacs)

$ot Sa6e3 P9r,a3e

April7D

2,)00 270)00

+ay7D 22C)00 2D8)00

(une7D 278)00 2C,)00

(uly7D 274)00 711)00

Aug7D 21,)00 2C0)00

Sep7D 2D2)00 248)00

#ct7D 2D8)00 204)00

;o!7D

2,)00 22D)00

-ec7D 27)00 2D7)00

(an74 7C)00 78C)00

Feb74 7C)00 7,D)00

+ar74 7C8)00 20,)00

Total2,6!1. 26$.

Conclusion:

From the above figure it is evident that the total sales of the Firm during the financial year 2013-1 is of

Rs.2!"1.00 lacs as com#ared to #receding financial year stating sales of Rs 2$%1.&% lacs. 'ence sale figure

of the firm has decreased by 2.21 shoing decreasing trend in sale.

7. &A/ITA$ EM/$OED

R3. I 6a,3

PARTICUAR

A9*+te* !a6a,eSeet a3 o

1.0.201

A9*+te* !a6a,e

Seet a3 o1.0.2014

PROPRIETORS CAPITA 42.2< 4?.12

RESERE AND SURPUS NI NI

TAN(I!E NET "ORTH 42.2< 4?.12

UNSECURED OANS- #RIENDS REATIES 1<5.00 1?<.52

SECURIT' #RO$ CUSTO$ERS NI NI

CAPITA E$PO'ED 2?.2< 22@.@4

ESS-ADANCE TO REATED PART' NI NI

NET CAPITA E$PO'ED 2?.2< 22@.@4

ESS - INEST$ENTS IN SU!SIDIAR' NI NI

N.O.# IN !USINESS 2?.2< 22@.@4TN" AS PER !AANCE SHEET 42.2< 4?.12

TN" AS SANCTION ETTER 42.2< 4?.12

Conclusion: From the above figure as on 31.03.201* it evident that the firm has inade+uate ,F /,

of Rs. 22!.! lacs Rs.$.12 lacs as suggested by the terms of sanction.



8. MIS&E$$ANEOUS

8.'. Insuran,e

T4e insuran,e details to be rovided as ollo0s

B (I# STO&? @ (STANDA%D I%E * S/E&IA$ /E%I$S /O$I&+ADDI#

INSURANCE COMPANY THE NEW INDIA ASSURANCE CO LTD

POLICY NUMBER/Cover Note No. 35330111140100000271

PERIOD OF INSURANCE 01/10/2014 TO 30/09/2015

LOCATION

Kay Ess Surgico

Rally, near vikran !oel ,Secor "12#,$anc!kula,%&aryana'

AMOUNT OF INSURANCE RS 403(00 )#*S

COVERAGE

On sock, Sock in +rocess, urniure

i-ure an. o!er conen

BANK CLAUSE &* ank ).(

8.5. %e-istration o &4ar-e NA

8.3. +an"in- &ondu,t

a# A&&OUNT T/E &AS) &%EDIT 0!"#"!00000$%

(Rs. In lacs)

$ot

Ope+)

!a6a,e Depo3+t3Cr

Pa&et3

Dr.

C6o3+) !a6a,e

Dr/Cr-

Aera)e CC

+&+t

Ut+6+3at+o DP Sa,t+o

CC U3a)e

+ Da3

Sa6e3 for te

$ot

Sep-14 ?2. 2?.@@

241.=

40.50 <<.? 50

< 21<.00

O,t-14 40.50 1<=.<?204.1? 45.?0 <5.41 50

= [email protected]

No-14 45.?0 [email protected]

2?5.4

? <4.<4 104.?? 50

< [email protected]

De,-14 <4.<4 2@@.=@

2<.

4 @?.42 114.=1 50

1

0 225.00

a-15 @?.42 24=.22

2?.5

= 5@.?= 120.54 50

1

0 1<?.00



#e>-15 5@.?= 220.05

215.5

4 52.2? 12.@0 50

1

1 204.00

TOTA$ 'B<33.99 'B587.

B Tota6 *epo3+t3 + te Ca3 Cre*+t A/, + te &ot3 ra)+) fro& Sep-14 to #e>-2015 +3 R3.14.<< 6a,3

re3pe,t+e6 a)a+3t 3a6e3 ra)+) fro& Sep-14 to #e>-15 +3 of R3.12=?.00 a,3 + &et+oe* &ot3. Cre*+t3

are &ore ta to +t3 3a6e3 + te 6a3t @ &ot3. T+3 &ea3 >orro%er +3 ro9t+) a66 tra3a,t+o tro9)

HD#C >a8.

8.<. +O%%OCINS

Details o unds borro0ed b! t4e entit! durin- t4e ,urrent alon- 0it4 sum borro0ed and

tenor.

-No #9*3 %ere >orro%e* > te et+t *9r+) te ,9rret #+a,+a6.

• E;istin- +orro0in-s

Te #+r& +3 aa+6+) fa,+6+t of Ca3 Cre*+t +&+t %+t HD#C !a8.

9.. &A$&U$ATION O D%ACIN /OCE% O M1S T%IMU%TI ASSO&IATES

Particulars \

Month Ended

21.03.2015 28.02.2015 31.01.2015 31.12.2014

StockStatement

*Books of Accounts

StockStatem

ent

*Books of Accounts

StockStatement

*Books of Accounts

StockStatement

*Booksof

Accounts

;Sto,8 - A <?.00 4?

5.00

4?5.0

0

4<0.0

0

4<0.

00

510

.00

5

10.00

JDe>tor3 ! 525.52 55.00

5.1@

[email protected]

54@.<4

[email protected]

5?1.00

TOTA$ 955.=5 '' '8.'> 'B3>. '3>.9< 'B7'.

'8'

;JCre*+tor3 - 1<<.5@ 5? 44.44 ?0 @<.54 40? <5.2?

Total (E (A+&## 755.9> >=3 >>3.75 >>>. >>7.< >><.

>8=.73

$ar)+ E L 25M;A-C 50M !

12.12 2<?.00

2<<.22

0.00

0.5<

[email protected]

14.1=

Dra%+) Po%er # L D-E 410.=4 5

@.00

@4.5

0

@.0

0

@.

=2

5?

.?5

?1.55

!a6a,e a3 per !a8 CC<4.1=

52.2?

52.2?

5@.?=

5@.?=

@?.42 @?.42



Dra%+) Po%er a3 per !a8 50.00 5

0.0050.0

050.0

050.00

50.00

50.00

B Note :

a) * Stock as per the books of accounts has been taken same as shown in Stock Statement submitted with

the bank.

b) #We hae calculated sundr! debtors as per book of accounts b! e"cludin adances to supplier. $ence

resultin in ariation.

c) %p calculated as on &'.'.' + &'.'.',+ -..', &.&.', is of Rs.&/'.,, lacs+ Rs.&0&.-

lacs +Rs.&0., lacs Rs.'.- lacs respectiel!

d) *#We hae calculated sundr! 1reditors as per book of accounts b! e"cludin adances from customers.

$ence resultin in ariation.

e) #Sundr! %ebtor fiures taken as per books of account in absence of aein anal!sis details

'.. "e ae ,o&pare* *epo3+t3 + CC C9rret A/C IS AIS 3a6e ,o66e,t+o a)a+3t *e>tor3 + te &ot of #e>-

2015.

A&t + a,3De>tor3 a3 o 1.01.2015 54@.<4

A**. Sa6e3 *9r+) #E!-15 204.00

e33- De>tor3 a3 o 2=/02/15 5.1@

Sa6e3 ,o66e,t+o + #E!-15 21?.=<

Depo3+t + CC C/A + #e>-15 220.05

D+ff- 2.2?

T+3 &ea3 >orro%er +3 ro9t+) a66 tra3a,t+o tro9) HD#C >a8.

Documents

Copy of Stock Audit - Kay Ess