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REGISTERED NUMBER: 04349192 (England and Wales)
















Financial Statements for the Year Ended 31 March 2024

for

LCC Deployment Services UK Limited

LCC Deployment Services UK Limited (Registered number: 04349192)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LCC Deployment Services UK Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S N Gambhire





REGISTERED OFFICE: 3rd Floor Ormond House
63 Queen Victoria Street
London
EC4N 4UA





REGISTERED NUMBER: 04349192 (England and Wales)





AUDITORS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

LCC Deployment Services UK Limited (Registered number: 04349192)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,449 839

CURRENT ASSETS
Debtors 5 1,398,583 1,467,286
Cash at bank 338,591 182,215
1,737,174 1,649,501
CREDITORS
Amounts falling due within one year 6 426,271 529,402
NET CURRENT ASSETS 1,310,903 1,120,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,312,352

1,120,938

CAPITAL AND RESERVES
Called up share capital 9 5,042,250 5,042,250
Share premium 10 4,999,904 4,999,904
Other reserves 10 2,953,216 2,953,216
Retained earnings 10 (11,683,018 ) (11,874,432 )
SHAREHOLDERS' FUNDS 1,312,352 1,120,938

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 director and authorised for issue on 13 August 2024 and were signed by:





S N Gambhire - Director


LCC Deployment Services UK Limited (Registered number: 04349192)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

LCC Deployment Services 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.

The company has a contract with its parent company, Tech Mahindra which represented 91% of the company's turnover during the year ended 31 March 2024. The director has considered the budget for 2024/2025 onwards and he believes that the company will continue to have adequate cash resources in order to pay all of its creditors as they fall due for the foreseeable future and for at least 12 months from the date of signing of these financial statements.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions which impact on the reported amounts of assets and liabilities. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover represents the total net sales to customers excluding value added tax. Contract revenue is recognised over the duration of the contract as work is performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery-25% on cost
Motor vehicles-20% on cost
Computer equipment-33% on cost

LCC Deployment Services UK Limited (Registered number: 04349192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, 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.

Basic financial liabilities
Basic financial liabilities, including creditors and loans 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.

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

LCC Deployment Services UK Limited (Registered number: 04349192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Related party disclosure
As the company is a wholly owned subsidiary within the group of its ultimate holding party Tech Mahindra Limited the company has taken advantage of the exemption contained within FRS 102 and has therefore not disclosed transactions with entities which form part of the group. The consolidated financial statements of Tech Mahindra Limited within which this company is included, can be obtained from their website.

Long term contracts
Profit on contracting activities is taken as work progresses. Unless a more conservative approach is necessary, the percentage margin on each individual contract is the lower of the margin earned to date and that forecast to completion. Full provision is made for contract losses as soon as they are foreseen. Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 85,433 19,711 14,609 119,753
Additions - - 1,814 1,814
Disposals - (12,042 ) - (12,042 )
At 31 March 2024 85,433 7,669 16,423 109,525
DEPRECIATION
At 1 April 2023 85,433 19,711 13,770 118,914
Charge for year - - 1,204 1,204
Eliminated on disposal - (12,042 ) - (12,042 )
At 31 March 2024 85,433 7,669 14,974 108,076
NET BOOK VALUE
At 31 March 2024 - - 1,449 1,449
At 31 March 2023 - - 839 839

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 39,055 19,168
Amounts owed by group undertakings 1,270,839 1,328,229
Prepayments and accrued income 88,689 119,889
1,398,583 1,467,286

LCC Deployment Services UK Limited (Registered number: 04349192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 37,457 134,524
Amounts owed to group undertakings 235,280 194,140
Social security and other taxes 32,636 4,452
Other creditors 7,191 7,191
Accrued expenses 113,707 189,095
426,271 529,402

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 4,118 4,118
Between one and five years 3,432 7,551
7,550 11,669

8. SECURED DEBTS

The company's bank, HSBC plc have secured a fixed and floating charge (charge code 0434 9192 0005) over all assets of the company dated 25 September 2014.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
504,225,035 Ordinary £0.01 5,042,250 5,042,250

10. RESERVES
Retained Share Other
earnings premium reserves Totals
£    £    £    £   

At 1 April 2023 (11,874,432 ) 4,999,904 2,953,216 (3,921,312 )
Profit for the year 191,414 191,414
At 31 March 2024 (11,683,018 ) 4,999,904 2,953,216 (3,729,898 )

During the year ended 31 December 2012, £2,953,216 of debt due to the immediate parent was converted into investments in the books of the immediate parent. In this Company, this is reflected by a transfer from the loan due to the immediate parent to other reserves.

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

The Report of the Auditors was unqualified.

Denise Lindsell FCA (Senior Statutory Auditor)
for and on behalf of Hardcastle Burton LLP

LCC Deployment Services UK Limited (Registered number: 04349192)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

12. PENSION COMMITMENTS

The company operates a defined contribution scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £2,068 (2023: £2,720).

Contributions amounting to £403 (2023: £394) were payable to the scheme at the year end.

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

14. ULTIMATE CONTROLLING PARTY

The immediate parent company is LCC Europe B.V. a company incorporated in the Netherlands.

The ultimate holding company is Tech Mahindra Limited, a company incorporated in India. Consolidated accounts of Tech Mahindra Limited can be obtained from www.techmahindra.com/investors/default.aspx