Sahaj Software Solutions UK Limited
Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 11975643 (England and Wales)
Sahaj Software Solutions UK Limited
Company Information
Directors
A Agrawal
N Dhall
Secretary
N Dhall
Company number
11975643
Registered office
G09
1 Quality Court
London
United Kingdom
WC2A 1HR
Auditor
Moore Kingston Smith LLP
Betchworth House
57-65 Station Road
Redhill
Surrey
RH1 1DL
Sahaj Software Solutions UK Limited
Balance Sheet
As at 31 December 2023
31 December 2023
Page 1
Unaudited
2023
2022
Notes
£
£
£
£
Current assets
Debtors
5
536,407
550,967
Cash at bank and in hand
918,353
269,931
1,454,760
820,898
Creditors: amounts falling due within one year
6
(739,380)
(558,484)
Net current assets
715,380
262,414
Capital and reserves
Called up share capital
7
40,000
40,000
Profit and loss reserves
675,380
222,414
Total equity
715,380
262,414

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

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 30 August 2024 and are signed on its behalf by:
N  Dhall
Director
Company Registration No. 11975643
Sahaj Software Solutions UK Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

Sahaj Software Solutions UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is G09, 1 Quality Court, London, United Kingdom, WC2A 1HR.

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

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

 

Contracts with customers are under time and material arrangements, the amounts charged corresponds directly to the value clients receive. These arrangements qualify for the right to invoice which allows revenue to be recognised based on the number of hours worked by the Company's employees at the contracted bill rates.

1.4
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:

Computers
in full in year of addition

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.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

Sahaj Software Solutions UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3
1.6
Financial instruments

The company only has basic financial instruments measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or basic instruments measured at fair 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 sum of the tax currently payable and deferred tax.

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.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
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.

1.10
Retirement benefits

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

Sahaj Software Solutions UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 4
1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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 year was:

2023
2022
Number
Number
Total
19
10
Sahaj Software Solutions UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
15,996
Additions
20,169
At 31 December 2023
36,165
Depreciation and impairment
At 1 January 2023
15,996
Depreciation charged in the year
20,169
At 31 December 2023
36,165
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
5
Debtors
Unaudited
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
509,454
524,592
Other debtors
26,872
25,268
Prepayments and accrued income
81
1,107
536,407
550,967
Sahaj Software Solutions UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 6
6
Creditors: amounts falling due within one year
Unaudited
2023
2022
£
£
Trade creditors
-
0
1,544
Amounts owed to group undertakings
300,000
81,571
Corporation tax
139,306
39,404
Other taxation and social security
258,800
275,219
Other creditors
21,871
157,446
Accruals and deferred income
19,403
3,300
739,380
558,484
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 0.005p each
8,000,000
8,000,000
40,000
40,000
8
Audit report information

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.

Senior Statutory Auditor:
Ian Matthews
Statutory Auditor:
Moore Kingston Smith LLP
9
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
35,000
34,200
Sahaj Software Solutions UK Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 7
10
Related party transactions

The company has taken advantage of the exemption in The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS 102") from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company.

11
Parent company

The ultimate parent company of Sahaj Software Solutions UK Limited is Sahaj Software Inc and its registered address is 8911 N Capital of Texas Hwy, Suite 4200, Austin TX, 78759.

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