REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
INVASYSTEMS UK LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
INVASYSTEMS UK LTD |
INVASYSTEMS UK LTD (REGISTERED NUMBER: 06916557) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
INVASYSTEMS UK LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Park House |
200 Drake Street |
Rochdale |
Lancashire |
OL16 1PJ |
INVASYSTEMS UK LTD (REGISTERED NUMBER: 06916557) |
ABRIDGED BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
£ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
INVASYSTEMS UK LTD (REGISTERED NUMBER: 06916557) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Invasystems UK Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Invasystems UK Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Invasystems Software Solutions Private Limited, 101B, First Floor, Nano Space IT Park, 5/1B12, Baner, Pune, India 411045. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
INVASYSTEMS UK LTD (REGISTERED NUMBER: 06916557) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was qualified on the following basis: |
Basis for qualified opinion |
The accounts for the year ended 31 March 2022 were not audited and we are therefore unable to provide assurance that the comparatives and the opening reserves position are free from material misstatements. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. 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 ethical requirements that are relevant to our audit of the financial statements in | the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. | We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
for and on behalf of |
5. | OTHER FINANCIAL COMMITMENTS |
As at 31 March 2023 the company had operating lease commitments of £9,708 expiring within 1-2 years. |
6. | ULTIMATE CONTROLLING PARTY |
The company's immediate parent undertaking is Invasystems Software Solutions Private Limited. Invasystems Software Solutions Private Limited was incorporated in Pune, India (Company number : 129389). Copies of the group accounts may be obtained from the secretary, 101B, First Floor, Nano Space IT Park, 5/1B12, Baner, Pune, India 411045. |
The ultimate controlling party is Invasystems Inc. 77 Sugar Creek Center Blvd Ste650, Sugar Land, Tx 77478 U.S,A., which controls Invasystems Software Solutions Private Limited. |
Jagdish Desai, is a part owner and trustee and has overall control of the group as he controls in excess of 50% of the ownership of Invasystems Inc. |