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REGISTERED NUMBER: 06031095 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Srindu Soft Ltd

Srindu Soft Ltd (Registered number: 06031095)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Srindu Soft Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mrs B C Prathap





SECRETARY: V S Konala





REGISTERED OFFICE: 39 Ludgate Hill City
London
EC4M 7JN





REGISTERED NUMBER: 06031095 (England and Wales)





ACCOUNTANTS: Euro Ashfords (UK) Ltd
2nd Floor,
39 Ludgate hill
London
EC4M 7JN

Srindu Soft Ltd (Registered number: 06031095)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,032 48,718
Investments 5 100 100
Investment property 6 1,047,060 1,047,060
1,084,192 1,095,878

CURRENT ASSETS
Debtors 7 218,167 144,492
Cash at bank 1,386 15,004
219,553 159,496
CREDITORS
Amounts falling due within one year 8 584,077 424,614
NET CURRENT LIABILITIES (364,524 ) (265,118 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

719,668

830,760

CREDITORS
Amounts falling due after more than one
year

9

428,669

477,365
NET ASSETS 290,999 353,395

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 290,703 290,703
Retained earnings 196 62,592
SHAREHOLDERS' FUNDS 290,999 353,395

Srindu Soft Ltd (Registered number: 06031095)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 30 August 2024 and were signed by:





Mrs B C Prathap - Director


Srindu Soft Ltd (Registered number: 06031095)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Srindu Soft Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Computer Equipment 33.33% on SLB
Motor Vehicle 25% on RBM

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value.

Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise. Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

No depreciation is provided on investment properties as a result of FRS 102 section 16, this represents a
departure from the requirements of the Companies Act. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure consumption and to depreciate them would not give a true and fair view.

However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separated or quantified.

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 balance sheet date.


Srindu Soft Ltd (Registered number: 06031095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 166,276 118,613 284,889
Additions - 2,109 2,109
At 31 December 2023 166,276 120,722 286,998
DEPRECIATION
At 1 January 2023 121,653 114,518 236,171
Charge for year 11,156 2,639 13,795
At 31 December 2023 132,809 117,157 249,966
NET BOOK VALUE
At 31 December 2023 33,467 3,565 37,032
At 31 December 2022 44,623 4,095 48,718

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

Srindu Soft Ltd holds 100% share capital of Optim Technologies Ltd, The Value are declared as book Value

Srindu Soft Ltd (Registered number: 06031095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,047,060
NET BOOK VALUE
At 31 December 2023 1,047,060
At 31 December 2022 1,047,060

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2022 1,047,060

If investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 1,047,060 1,047,060

Investment property was valued on an open market basis on 31 December 2023 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 62,673 62,672
Amounts owed by associates 96,000 -
Other debtors 59,494 81,820
218,167 144,492

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 50,549 50,569
Hire purchase contracts 3,721 3,721
Trade creditors 45,067 42,766
Amounts owed to associates 101,941 77,941
Taxation and social security 91,379 109,197
Other creditors 291,420 140,420
584,077 424,614

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 390,430 436,274
Hire purchase contracts 38,239 41,091
428,669 477,365

Srindu Soft Ltd (Registered number: 06031095)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.12.23 31.12.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 318,676 341,010
Barclays loan 46,000 60,000
364,676 401,010

10. DEFERRED TAX
£   
Balance at 1 January 2023 (511 )
Provided during year (1,509 )
Balance at 31 December 2023 (2,020 )

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 290,703

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Mrs B C Prathap
Balance outstanding at start of year (1,047 ) 80,009
Amounts advanced 14,878 (1,047 )
Amounts repaid - (80,009 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,831 (1,047 )

At the balance sheet date, the director Mrs B C Prathap owes £13,831 (2022: £309 Dr).

At the balance sheet date, Srindu Soft Ltd owes £49,200 to Optim Technologies Ltd, £47,741 to CISWorldwide Ltd and £5,000 to Abcistic Investments Ltd.
At the balance sheet date, Srindu Soft Ltd is owed £68,000 by Oakesfield Properties Ltd, £28,000 and by Angel Property Ltd.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs B C Prathap.

At the balance sheet date, Mr. V S Konala & Mrs. Chittoor Prathap Bindu Madhavi own 50% share each in the company and therefore, they are the ultimate controlling party.