Company registration number 14132228 (England and Wales)
IOTA ANALYTICS UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
IOTA ANALYTICS UK LIMITED
COMPANY INFORMATION
Directors
Ms I A Gupta
Mr A S Maini
Mr S Newman
Mr D H Gordon
(Appointed 1 January 2023)
Mr J R Rekhy
(Appointed 1 January 2023)
Company number
14132228
Registered office
c/o Preiskel & Co LLP
4 King's Bench Walk
Temple
London
EC4Y 7DL
Accountants
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
IOTA ANALYTICS UK LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
IOTA ANALYTICS UK LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF IOTA ANALYTICS UK LIMITED FOR THE PERIOD ENDED 31 MARCH 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Iota Analytics UK Limited for the period ended 31 March 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Iota Analytics UK Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Iota Analytics UK Limited and state those matters that we have agreed to state to the Board of Directors of Iota Analytics UK Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Iota Analytics UK Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Iota Analytics UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Iota Analytics UK Limited. You consider that Iota Analytics UK Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Iota Analytics UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kirk Rice LLP
29 November 2023
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
IOTA ANALYTICS UK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
Notes
£
£
Fixed assets
Investments
4
9,252
Current assets
Debtors
5
107,108
Cash at bank and in hand
20,667
127,775
Creditors: amounts falling due within one year
6
(91,298)
Net current assets
36,477
Net assets
45,729
Capital and reserves
Called up share capital
10,000
Profit and loss reserves
35,729
Total equity
45,729

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 November 2023 and are signed on its behalf by:
Mr A S Maini
Director
Company registration number 14132228 (England and Wales)
IOTA ANALYTICS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Iota Analytics UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Preiskel & Co LLP, 4 King's Bench Walk, Temple, London, EC4Y 7DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Iota Analytics Private Limited. These consolidated financial statements are available from its registered office, Plot No 164, Industrial Area, Phase 1, Chandigargh, India.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

 

Iota Analytics UK Limited is a wholly owned subsidiary of Iota Analytics Private Limited and the results of Iota Analytics UK Limited are included in the consolidated financial statements of Iota Analytics Private Limited which are available from Plot No 164, Industrial Area, Phase 1, Chandigarh, India.

1.2
Turnover

Turnover represents income from a group company on a cost-plus basis, and is recognised in line with the sales and service agreement with that company.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

IOTA ANALYTICS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.

Basic financial assets

Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Basic financial liabilities

Creditors are not interest bearing and are included at their nominal value.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

IOTA ANALYTICS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 5 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
4
4
Fixed asset investments
2023
£
Shares in group undertakings and participating interests
9,252
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 25 May 2022
-
Additions
9,252
At 31 March 2023
9,252
Carrying amount
At 31 March 2023
9,252
5
Debtors
2023
Amounts falling due within one year:
£
Amounts owed by group undertakings
98,043
Other debtors
9,065
107,108
IOTA ANALYTICS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 6 -
6
Creditors: amounts falling due within one year
2023
£
Trade creditors
44
Amounts owed to group undertakings
20,084
Taxation and social security
15,787
Other creditors
55,383
91,298
7
Parent company

The company's immediate parent company is Iota Analytics Private Limited which is also the ultimate parent company. Iota Analytics Private Limited is a company incorporated in India and its registered office is:

Plot No 164
Industrial Area
Phase 1
Chandigarh
India

There is no single ultimate controlling party due to the ownership structure.

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