Registered number
07541104
Nendrasys Technologies UK Ltd
Filleted Accounts
28 February 2023
Nendrasys Technologies UK Ltd
Registered number: 07541104
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 21,980 11,298
Current assets
Debtors 4 74,597 90,703
Cash at bank and in hand 8,908 34,050
83,505 124,753
Creditors: amounts falling due within one year 5 (80,007) (101,557)
Net current assets 3,498 23,196
Total assets less current liabilities 25,478 34,494
Creditors: amounts falling due after more than one year 6 (42,827) (43,623)
Provisions for liabilities (5,220) (2,147)
Net liabilities (22,569) (11,276)
Capital and reserves
Called up share capital 100 100
Profit and loss account (22,669) (11,376)
Shareholders' funds (22,569) (11,276)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Chigurupati
Director
Approved by the board on 22 November 2023
Nendrasys Technologies UK Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% Writtendown value
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 14
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022 26,513
Additions 16,177
At 28 February 2023 42,690
Depreciation
At 1 March 2022 15,215
Charge for the year 5,495
At 28 February 2023 20,710
Net book value
At 28 February 2023 21,980
At 28 February 2022 11,298
4 Debtors 2023 2022
£ £
Trade debtors 55,433 71,698
Loan - Nendrasys India 10,000 10,000
Other debtors 9,164 9,005
74,597 90,703
Amounts due after more than one year included above 10,000 10,000
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 11,372 26,228
Wages 7,745 13,139
Director's account 57,440 56,560
Other creditors 3,450 5,630
80,007 101,557
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 42,827 43,623
7 Related party transactions
The director's current account was in credit by £57,440
8 Controlling party
The ultimate controlling party is Mr K Chigurupati who is a Managing Director of Nendrasys
Technologies PVT Limited. Therefore by virtue of Nendrasys Technologies PVT. LTD significant
shareholding (70%), Mr K Chigurupati was the ultimate controller of Nendrasys Technologies UK
Ltd during the period.
9 Other information
Nendrasys Technologies UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 129 Midsummer Court
314 Midsummer Boulevard
Milton Keynes
MK9 2UB
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