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REGISTERED NUMBER: 11696042 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

BlueBinaries Engineering And Solutions
Ltd

BlueBinaries Engineering And Solutions
Ltd (Registered number: 11696042)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BlueBinaries Engineering And Solutions
Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: K Lingareddygari Mural





REGISTERED OFFICE: Collaborate Steward House
14 Commercial Way
Woking
Surrey
GU21 6ET





REGISTERED NUMBER: 11696042 (England and Wales)





AUDITORS: RA Audit Services Limited
2nd Floor
Grove House
55 Lowlands Road
Harrow
Middlesex
HA1 3AW

BlueBinaries Engineering And Solutions
Ltd (Registered number: 11696042)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,935 4,259

CURRENT ASSETS
Debtors 5 1,645,047 1,042,453
Cash at bank 1,066 74,817
1,646,113 1,117,270
CREDITORS
Amounts falling due within one year 6 1,175,193 489,558
NET CURRENT ASSETS 470,920 627,712
TOTAL ASSETS LESS CURRENT
LIABILITIES

473,855

631,971

CAPITAL AND RESERVES
Called up share capital 7 5,000 5,000
Retained earnings 468,855 626,971
SHAREHOLDERS' FUNDS 473,855 631,971

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 4 November 2024 and were signed by:





K Lingareddygari Mural - Director


BlueBinaries Engineering And Solutions
Ltd (Registered number: 11696042)

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

1. STATUTORY INFORMATION

BlueBinaries Engineering And Solutions 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.

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 £.

Related party exemption
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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

The following criteria must be met before revenue is recognised.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all the following conditions are satisfied:

- the amount of revenue can be measure reliably;
- it is possible that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the cost to complete the contract can be measure reliably.

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 - 25% on cost

BlueBinaries Engineering And Solutions
Ltd (Registered number: 11696042)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the 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 balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

BlueBinaries Engineering And Solutions
Ltd (Registered number: 11696042)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Going concern
The financial statements have been prepared on a going concern basis even though for the year ended 31 March 2024, the company had made losses of £158,116 (2023 Profit : £600,077). After reviewing the company's forecasts and projections, the directors have a reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 5,301
DEPRECIATION
At 1 April 2023 1,042
Charge for year 1,324
At 31 March 2024 2,366
NET BOOK VALUE
At 31 March 2024 2,935
At 31 March 2023 4,259

BlueBinaries Engineering And Solutions
Ltd (Registered number: 11696042)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 819,896 744,157
Amounts owed by group undertakings 698,012 107,036
Other debtors 127,139 191,260
1,645,047 1,042,453

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 5,023 24,831
Amounts owed to group undertakings 3,564 -
Tax 121,025 146,333
Social security and other taxes 159,585 15,412
VAT 821,413 295,514
Net Wages 55,103 -
Pensions 1,502 968
Directors' current accounts 478 -
Accrued expenses 7,500 6,500
1,175,193 489,558

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
5,000 Ordinary £1 5,000 5,000

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

The Report of the Auditors was unqualified.

Abdul Hafeez ACA, FCCA (Senior Statutory Auditor)
for and on behalf of RA Audit Services Limited

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors due within 12 months is an amount £478 (2023: other debtors £1,553) due from the director Kishore Lingareddy.

10. ULTIMATE PARENT COMPANY

The company's ultimate parent company is Bluebinaries Engineering and Solutions Pvt Limited, a company registered in India.