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REGISTERED NUMBER: 08069182 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

ELIGARF TECHNOLOGIES (UK) LIMITED

PREVIOUSLY KNOWN AS
SYSTEMS PLUS TRANSFORMATIONS LIMITED

ELIGARF TECHNOLOGIES (UK) LIMITED (REGISTERED NUMBER: 08069182)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELIGARF TECHNOLOGIES (UK) LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: V Desai
A Hosabettu





REGISTERED OFFICE: Third Floor
126-134 Baker Street
London
W1U 6UE





REGISTERED NUMBER: 08069182 (England and Wales)





ACCOUNTANTS: Butler & Co LLP
Chartered Accountants
Third Floor
126-134 Baker Street
London
W1U 6UE

ELIGARF TECHNOLOGIES (UK) LIMITED (REGISTERED NUMBER: 08069182)

Balance Sheet
31 MARCH 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 606,133 421,338
Cash at bank and in hand 504,846 1,111,340
1,110,979 1,532,678
CREDITORS
Amounts falling due within one year 6 226,267 706,963
NET CURRENT ASSETS 884,712 825,715
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,712

825,715

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 883,712 824,715
SHAREHOLDERS' FUNDS 884,712 825,715

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:





V Desai - Director


ELIGARF TECHNOLOGIES (UK) LIMITED (REGISTERED NUMBER: 08069182)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Eligarf Technologies (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The directors consider that the financial resources available to the Company are adequate to meet its operational needs for the foreseeable future or at least 12 months from the date of signature of these accounts. Accordingly, the going concern basis has been adopted in preparing these financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of IT consultancy services, excluding value added tax and trade discounts.

Revenue Recognition
Revenue from time and material contracts are recognised as the services are performed.
Revenue on fixed price development contracts is measured using the percentage of completion method of accounting. Performance is generally measured based upon the efforts incurred to date in relation to the total estimated efforts to the completion of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Government grants
Government grants are recognised at the fair value of the asset received when there is reasonable assurance that the grants condition will be met and the grants will be received.
A grant that specifies performance condition is recognised in income when the performance conditions are met. Where a grant does not specify performance condition it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

ELIGARF TECHNOLOGIES (UK) LIMITED (REGISTERED NUMBER: 08069182)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022
and 31 March 2023 14,058
DEPRECIATION
At 1 April 2022
and 31 March 2023 14,058
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 481,026 227,575
Other debtors 47,058 184,209
PAYE Debtor - 3,864
Pensions Debtor 159 -
Prepayments 77,890 5,690
606,133 421,338

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 7) - 108,552
Trade creditors 112,006 455,194
Amounts owed to group undertakings - 89,031
Tax 15,197 13,147
VAT 90,763 7,839
Other creditors 2,510 27,739
Accrued expenses 5,791 5,461
226,267 706,963

7. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 108,552

ELIGARF TECHNOLOGIES (UK) LIMITED (REGISTERED NUMBER: 08069182)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 108,552

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 April 2022 824,715
Profit for the year 58,997
At 31 March 2023 883,712

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Systems Plus Transformation LLP, a limited liability partnership in India.