Servy Technologies UK Limited (Formerly Known As Get Grab Limited)
Unaudited Financial Statements
For the year ended 31 December 2022
Pages for Filing with Registrar
Company Registration No. 10614937 (England and Wales)
Servy Technologies UK Limited (Formerly known as Get Grab Limited)
Servy Technologies UK Limited (Formerly Known As Get Grab Limited)
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Servy Technologies UK Limited (Formerly Known As Get Grab Limited)
Balance Sheet
As at 31 December 2022
Page 1
2022
2021
Notes
£
£
£
£
Fixed assets
Intangible assets
2
23,642
Tangible assets
3
886
1,392
24,528
1,392
Current assets
Debtors
4
504,291
358,143
Cash at bank and in hand
63,194
2,578
567,485
360,721
Creditors: amounts falling due within one year
5
(700,872)
(479,211)
Net current liabilities
(133,387)
(118,490)
Net liabilities
(108,859)
(117,098)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
(108,860)
(117,099)
Total equity
(108,859)
(117,098)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year 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.
Servy Technologies UK Limited (Formerly Known As Get Grab Limited)
Balance Sheet (Continued)
As at 31 December 2022
Page 2
The financial statements were approved by the board of directors and authorised for issue on 21 December 2023 and are signed on its behalf by:
J M Livney
Director
Company Registration No. 10614937
Servy Technologies UK Limited (Formerly known as Get Grab Limited)
Servy Technologies UK Limited (Formerly Known As Get Grab Limited)
Notes to the Financial Statements
For the year ended 31 December 2022
Page 3
1
Accounting policies
Company information
Servy Technologies UK Limited (Formerly known as Get Grab Limited) is a private company limited by shares domiciled and incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, EC2A 2AP.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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.
1.2
Going concern
For the year endingtrue 31 December 2022 the company had profits of £8,239 (2021: £5,700) and had net liabilities of £108,859 (2021: £117,098), The ability of the company to continue to trade therefore, relies on the continued financial support and forbearance of the parent undertaking. The director has received assurances from the parent company that it will continue to provide financial support for a period of at least 12 months from the date of approving the financial statements so as not to jeopardise the going concern status of the company nor to prejudice the interests of creditors. For this reason the director continues to prepare the financial statements on a going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
5 years straight line
Servy Technologies UK Limited (Formerly known as Get Grab Limited)
Servy Technologies UK Limited (Formerly Known As Get Grab Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
1
Accounting policies
(Continued)
Page 4
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Cash at bank and in hand
Cash at bank and in hand 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.
1.7
Financial instruments
The company only has basic financial instruments measured at amortised cost with no financial instruments classified as other or basic instruments at fair value.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Servy Technologies UK Limited (Formerly known as Get Grab Limited)
Servy Technologies UK Limited (Formerly Known As Get Grab Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 5
2
Intangible fixed assets
Software
£
Cost
At 1 January 2022
Additions
28,949
At 31 December 2022
28,949
Amortisation and impairment
At 1 January 2022
Amortisation charged for the year
5,307
At 31 December 2022
5,307
Carrying amount
At 31 December 2022
23,642
At 31 December 2021
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 and 31 December 2022
5,838
Depreciation and impairment
At 1 January 2022
4,446
Depreciation charged in the year
506
At 31 December 2022
4,952
Carrying amount
At 31 December 2022
886
At 31 December 2021
1,392
Servy Technologies UK Limited (Formerly known as Get Grab Limited)
Servy Technologies UK Limited (Formerly Known As Get Grab Limited)
Notes to the Financial Statements (Continued)
For the year ended 31 December 2022
Page 6
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
4,658
125,625
Amounts owed by group undertakings
411,939
164,806
Other debtors
76,732
67,712
Prepayments and accrued income
10,962
504,291
358,143
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
461,967
472,645
Other creditors
235,385
3,366
Accruals and deferred income
3,520
3,200
700,872
479,211
6
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
7
Related party transactions
The company has taken advantage of the exemption available in accordance with FRS 102 'Related party disclosures' not to disclose transactions entered into between two or more members of a group.
8
Parent company
The ultimate parent and controlling party is Cursus Technologies, Inc. A company registered in Delaware in the United States of America.