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REGISTERED NUMBER: 09007037 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Newgen KnowledgeWorks UK Limited

Newgen KnowledgeWorks UK Limited (Registered number: 09007037)






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


Newgen KnowledgeWorks UK Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: S Harihara
V P Ram
G S Ram





REGISTERED OFFICE: 6th Floor
9 Appold Street
London
EC2A 2AP





REGISTERED NUMBER: 09007037 (England and Wales)





AUDITORS: millhall consultants ltd
Carlson Suite
Vantage Point Business Village
Mitcheldean
Gloucestershire
GL17 0DD

Newgen KnowledgeWorks UK Limited (Registered number: 09007037)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 140,407
Investments 5 80 421,770
80 562,177

CURRENT ASSETS
Debtors 6 251,007 78,185
Cash at bank 3,751 16,962
254,758 95,147
CREDITORS
Amounts falling due within one year 7 510,263 365,690
NET CURRENT LIABILITIES (255,505 ) (270,543 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(255,425

)

291,634

CAPITAL AND RESERVES
Called up share capital 487,000 487,000
Retained earnings (742,425 ) (195,366 )
(255,425 ) 291,634

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 approved by the Board of Directors and authorised for issue on 9 September 2023 and were signed on its behalf by:





V P Ram - Director


Newgen KnowledgeWorks UK Limited (Registered number: 09007037)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Newgen KnowledgeWorks 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.

Preparation of consolidated financial statements
The financial statements contain information about Newgen KnowledgeWorks UK Limited 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, Newgen DigitalWorks Private Limited, No. 4, First Floor, G3 Buildings, Barathi Nagar Cross Street, Off L.B. Road, Thiruvanmiyur, Chennai, Tamil Nadu, India, 600041..

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

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.

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.

Newgen KnowledgeWorks UK Limited (Registered number: 09007037)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Going concern
The company made a loss for the year of £547,059 (2022: loss £53,584. At the year end it had net current liabilities of £255,505 (2022: £270,543), and net liabilities of £255,425 (2022: net assets £291,634). The company is dependent on the continuing financial support of Newgen DigitalWorks Private Limited, its ultimate parent company. The directors have considered the going concern position of the company and its ability to meet its liabilities as they fall due over the next twelve months. The company is funded by and has received financial support from its fellow subsidiaries and at the year end a total of £350,224 (2022: £80,000) was owed to group undertakings, with £251,007 (2022: £78,185) owed by group undertakings.

Newgen DigitalWorks Private Limited has confirmed that it will continue to provide the necessary financial support to the company to enable it to continue to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements and to enable the company to continue to meet its liabilities as they fall due.

On the basis of the assessment of the company's financial position and the support provided by Newgen DigitalWorks Private Limited, at the time of approval of these financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence as a going concern for the foreseeable future and, in any event, for at least twelve months after the date of approval of these financial statements. Consequently the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2022
and 31 March 2023 340,134
AMORTISATION
At 1 April 2022 199,727
Charge for year 140,407
At 31 March 2023 340,134
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 140,407

Newgen KnowledgeWorks UK Limited (Registered number: 09007037)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022 421,770
Impairments (421,690 )
At 31 March 2023 80
NET BOOK VALUE
At 31 March 2023 80
At 31 March 2022 421,770

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Newgen Publishing UK Ltd.
Registered office: United Kingdom
Nature of business: Publishing
%
Class of shares: holding
Ordinary 80.00
2023 2022
£    £   
Aggregate capital and reserves (11,043 ) 232,763
(Loss)/profit for the year (243,806 ) 199,843

Newgen Publishing Services Limited
Registered office: United Kingdom
Nature of business: Business support services
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves (40,131 ) (40,131 )

Newgen KnowledgeWorks UK Limited (Registered number: 09007037)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS - continued

Newgen DigitalWorks Limited
Registered office: United Kingdom
Nature of business: Business support services
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 439 439

The last accounts for Newgen Publishing Services Limited and Newgen DigitalWorks Limited were prepared to 31st March 2020. There have been no accounts prepared for any subsequent period. An application to strike off each of these subsidiaries was filed at Companies House on 3rd May 2022, and therefore a full impairment for the holding value of the investments in these subsidiaries has been put through the profit and loss account for the year, such that their holding value is now £NIL. Newgen DigitalWorks Limited has been dissolved on 18th July 2023.

An amount of £20,000 was recognised in the balance sheet for the year ended 31st March 2022 as being an investment in shares. In fact, it was a loan made to Critical Information Group Limited, a member of the ultimate group to which Newgen Knowledgeworks Limited belongs. Both the 2023 balance sheet and that for 2022 have been adjusted to reflect the loan rather than an investment in shares.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 251,007 28,185
Other debtors - 50,000
251,007 78,185

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 350,224 80,000
Other creditors 160,039 285,690
510,263 365,690

Newgen KnowledgeWorks UK Limited (Registered number: 09007037)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


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 case 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.

Ben Hall FCA (Senior Statutory Auditor)
for and on behalf of millhall consultants ltd

9. RELATED PARTY DISCLOSURES

The company has taken the exemption from disclosing related party transactions with companies under the same control in accordance with FRS 102 - Section 33 "Related Party Disclosures".

10. ULTIMATE CONTROLLING PARTY

The company is controlled by Newgen DigitalWorks Private Limited, a company incorporated in India, based on its shareholding.

Newgen DigitalWorks Private Limited represents the smallest and largest group for which the consolidated accounts are prepared. Consolidated accounts are available from No. 4, First Floor, G3 Buildings, Barathi Nagar Cross Street, Off L.B. Road, Thiruvanmiyur, Chennai, Tamil Nadu, India, 600041.