2023-01-012023-12-312023-12-31false14043100EVEREST SOFTWARE SYSTEMS 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EVEREST SOFTWARE SYSTEMS LTD

Registered Number
14043100
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

EVEREST SOFTWARE SYSTEMS LTD
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

CHOPRA, Sandeep
FAERBER, Franz Xaver
HODGSON, Steven Philip

Registered Address

Oak House, Tanshire Park
Shackleford Road
Elstead
GU8 6LB

Registered Number

14043100 (England and Wales)
EVEREST SOFTWARE SYSTEMS LTD
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors12,549
Cash at bank and on hand193,81326,707
193,81429,256
Creditors amounts falling due within one year3(131,660)(21,873)
Net current assets (liabilities)62,1547,383
Total assets less current liabilities62,1547,383
Net assets62,1547,383
Capital and reserves
Called up share capital11
Profit and loss account62,1537,382
Shareholders' funds62,1547,383
The financial statements were approved and authorised for issue by the Board of Directors on 31 August 2024, and are signed on its behalf by:
CHOPRA, Sandeep
Director
Registered Company No. 14043100
EVEREST SOFTWARE SYSTEMS LTD
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
2.Average number of employees

20232022
Average number of employees during the year99
3.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties78,675-
Taxation and social security49,01519,948
Other creditors3,9701,925
Total131,66021,873
4.Creditors: amounts due after one year
5.Provisions for liabilities
6.Pension commitments
The company operates a defined contribution pension scheme for the directors and senior employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £3,970 (2022 - £1,925) were due to the fund. They are included in other creditors.
7.Controlling party
The parent Company is Everest Software Systems Inc and copies of the financial statements are available from 280 Hope Street, 2nd Floor, Mountain View, CA 94041 USA. Everest Software Systems Inc is the largest group and smallest group to consolidate these financial statements.