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REGISTERED NUMBER: 07175838 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

CYBAGE SOFTWARE (UK) LIMITED

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 3

Income Statement 6

Other Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


CYBAGE SOFTWARE (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: A V Nathani
Mrs R Nathani





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





REGISTERED NUMBER: 07175838 (England and Wales)





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

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2023

The directors present their report with the financial statements of the company for the year ended 31 March 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of other information technology service activities

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report.

A V Nathani
Mrs R Nathani

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Butler & Co LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





A V Nathani - Director


28 September 2023

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CYBAGE SOFTWARE (UK) LIMITED

Opinion
We have audited the financial statements of Cybage Software (UK) Limited (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
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 Auditors' 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 opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CYBAGE SOFTWARE (UK) LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlines above, to detect material misstatements in respect of irregularities, including fraud.
The extent to which our procedures are capable of detecting irregularities, including fraud is listed below:

- Enquiries of management, concerning the company's policies and procedures relating to:
o Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of
non-compliance.
o Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud.

- Discussions among the engagement team regarding how and whether fraud might occur in the financial statements
and any potential indicators of fraud.

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk
of management override.

- Performed analytical review procedures to identify unusual relationships.
- Reviewed the trends in Key Performance Indicators.
- Tested Journal Entries to identify unusual transactions.
- Evaluated accounting policies used and reasonableness of accounting estimates made.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in.

As a result of the above, we did not identify any key audit matters related to the potential of risk of fraud or
non-compliance.

A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the
Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CYBAGE SOFTWARE (UK) LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Sanjeev Phadke (Senior Statutory Auditor)
for and on behalf of Butler & Co LLP
Chartered Accountants
& Statutory Auditor
Third Floor
126-134 Baker Street
London
W1U 6UE

28 September 2023

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

TURNOVER 367,373 236,917

Administrative expenses 327,542 215,954
39,831 20,963

Other operating income - 10,058
OPERATING PROFIT 4 39,831 31,021


Interest payable and similar expenses 5 4,875 4,875
PROFIT BEFORE TAXATION 34,956 26,146

Tax on profit 6 6,986 4,853
PROFIT FOR THE FINANCIAL YEAR 27,970 21,293

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 27,970 21,293


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

27,970

21,293

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 724 1,090

CURRENT ASSETS
Debtors 8 156,564 90,785
Cash at bank 149,352 169,634
305,916 260,419
CREDITORS
Amounts falling due within one year 9 82,807 65,646
NET CURRENT ASSETS 223,109 194,773
TOTAL ASSETS LESS CURRENT
LIABILITIES

223,833

195,863

CREDITORS
Amounts falling due after more than one
year

10

150,000

150,000
NET ASSETS 73,833 45,863

CAPITAL AND RESERVES
Called up share capital 12 50,000 50,000
Retained earnings 13 23,833 (4,137 )
SHAREHOLDERS' FUNDS 73,833 45,863

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by:





A V Nathani - Director


CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 April 2021 50,000 (25,430 ) 24,570

Changes in equity
Total comprehensive income - 21,293 21,293
Balance at 31 March 2022 50,000 (4,137 ) 45,863

Changes in equity
Total comprehensive income - 27,970 27,970
Balance at 31 March 2023 50,000 23,833 73,833

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Cybage Software (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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of services is recognised by reference to the stage of completion for fixed price projects. Stage of completion is measured by reference to project days incurred to date as a percentage of total estimated project days for each contract. Revenue from time and materials contracts are recognised as the services are rendered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computers33.33% on cost
Furniture and fixtures20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on a going concern basis on the assumption that the company will continue to trade in the foreseeable future. The company has net assets of £73,833 (2022: £45,863). The directors, having made appropriate enquiries, consider that adequate resources exist for the company to continue in operational existence for the foreseeable future and with the continued support of the company's parent, the company will be able to meet its liabilities as they fall due for payment. Therefore, the directors are of the opinion that it is appropriate to adopt the going concern basis in preparing the financial statements for the year ended 31 March 2023.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 259,835 179,433
Social security costs 30,921 13,975
Other pension costs 4,307 3,741
295,063 197,149

The average number of employees during the year was as follows:
2023 2022

Marketing and sales 3 1
Onsite 1 1
4 2

2023 2022
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Other operating leases 4,117 4,640
Depreciation - owned assets 366 7
Auditors' remuneration 4,600 4,250

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Loan interest 4,875 4,875

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 6,986 4,853
Tax on profit 6,986 4,853

UK corporation tax was charged at 19%) in 2022.

7. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 263 2,691 2,954
DEPRECIATION
At 1 April 2022 263 1,601 1,864
Charge for year - 366 366
At 31 March 2023 263 1,967 2,230
NET BOOK VALUE
At 31 March 2023 - 724 724
At 31 March 2022 - 1,090 1,090

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 36,112 -
Amounts owed by group undertakings 117,882 88,489
Other debtors 1,512 1,512
VAT - 595
Prepayments and accrued income 1,058 189
156,564 90,785

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 6,987 4,853
VAT 5,691 -
Other creditors 1,955 3,215
Accrued expenses 68,174 57,578
82,807 65,646

CYBAGE SOFTWARE (UK) LIMITED (REGISTERED NUMBER: 07175838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 150,000 150,000

11. LEASING AGREEMENTS
Land and Property

The company has a monthly rolling commitment of £475 (2022: £475) under a lease.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50,000 Ordinary £1 50,000 50,000

13. RESERVES
Retained
earnings
£   

At 1 April 2022 (4,137 )
Profit for the year 27,970
At 31 March 2023 23,833

14. ULTIMATE PARENT COMPANY

The ultimate parent company is Cybage Software Private Limited, a company registered at Survey No. 13A/1+2+3/1 Wadgaon Sheri, Pune, Maharashtra , 411014, India.

15. RELATED PARTY DISCLOSURES

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.

As at 31st March 2023 the company owed a sum of £150,000 (2022: £150,000) to Cybage Software Private Limited (the ultimate parent company) and the interest payable for the year on the loan was £4,875 (2022: £4,875).