REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
ELIGARF TECHNOLOGIES (UK) LIMITED |
PREVIOUSLY KNOWN AS |
SYSTEMS PLUS TRANSFORMATIONS LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
PAYE Debtor | - | 3,864 |
Pensions Debtor | 159 | - |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 7) |
Trade creditors |
Amounts owed to group undertakings |
Tax |
VAT | 90,763 | 7,839 |
Other creditors |
Accrued expenses |
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 |
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 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 1,000 | 1,000 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2022 |
Profit for the year |
At 31 March 2023 |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Systems Plus Transformation LLP, a limited liability partnership in India. |