Robosoft Technologies UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, United Kingdom, EC2A 2AP.
The company was incorporated on 9 December 2022. These are the first financial statements prepared by the company and they have been prepared for the short period ended 31 March 2023.
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 £.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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.
In the application of the company’s accounting policies, the director is 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.
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
For a number of employees there is a contracted performance related bonus. The group policy is that for those employees who join part way through a financial year the performance criteria is assessed alongside the following financial year’s performance.
At the year-end the directors are therefore unable to assess the amount due, but make a pro-rated accrual of the maximum bonus set out in the employees’ contracts in order to be prudent. The amount accrued in these financial statements are £5,819.
The average monthly number of persons (including directors) employed by the company during the period was:
On incorporation, the company issued 200,000 ordinary shares at £1 each.
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The parent company is Robosoft Technologies Private Limited (incorporated in India). The registered address of the parent is No. 217, NH-66, Santhekatte New Udupi, Udupi, Karnataka, India, 576 105.
The ultimate controlling party is TechnoPro Holdings Inc. (incorporated in Japan). The registered address of the ultimate controlling party is Roppongi Hills Mori Tower 35F, 6-10-1 Roppongi, Minato-ku, Tokyo 106-6135, Japan.