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REGISTERED NUMBER: 07211807 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

EXPLEO SOLUTIONS UK LTD

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Statement of Comprehensive Income 7

Balance Sheet 8

Statement of Changes in Equity 9

Cash Flow Statement 10

Notes to the Financial Statements 11


EXPLEO SOLUTIONS UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: Mr Balaji Viswanathan
Mr Stephen Michael Magennis



REGISTERED OFFICE: Fourth floor
80 Cannon Street
London
EC4N 6AE



REGISTERED NUMBER: 07211807 (England and Wales)



AUDITORS: PSJ Alexander & Co
Chartered Accountants & Statutory Auditors
1 Doughty Street
London
WC1N 2PH



BANKERS: HSBC Bank Plc
Holborn circus
London

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2024


The directors present their strategic report for the year ended 31st March 2024.

REVIEW OF BUSINESS
Expleo Solutions UK Ltd is a wholly owned subsidiary of Expleo Solutions Limited. Expleo Solutions Limited is a public Limited company incorporated under the laws of India and their shares are traded in two stock exchanges in India - NSE and BSE.

The entity is part of the SQS Group, the world's leading specialist in software quality. Together with Assystem Technologies, SQS has rebranded as Expleo.

Expleo (Erstwhile SQS Group) is a trusted partner for end-to-end, integrated engineering, quality services and management consulting for digital transformation. Expleo group helps businesses harness unrelenting technological change to successfully deliver innovations that will help them gain a competitive advantage and improve the everyday lives of people around the globe. The group operates in over 25 countries.

Expleo is the leading Business Assurance and Testing Specialist focusing exclusively on the Financial Sector. With a successful track record of over 15 years, and more than 14 million person hours of Testing, the company has served 150 plus customers in APAC, USA, UK and Middle East.

Its financial software testing services have helped system integrators and product development companies to achieve near defect-free rollouts of software products such as PRIME, TS2®, VisionPLUS®, Oracle FLEXCUBE®, T24, Equation, B@ncs24, CS Eximbills, FinnOne™, Kondor+, Pan Credit, TS2, Siebel, Newton, Kastle, Genius, Premia, MIDAS, ClarityQ and Finacle.

Already UK region represents a major client base for Expleo as many of the client do make repeat orders for the testing services provided by us. We have a strong sales team working in UK and also in other countries in the Europe region sourcing business. The UK region is expected to grow strongly in this region as Expleo (Erstwhile SQS Group) is already a known service provider in this region. The company is expecting to have more synergies in terms of accessing new markets and new client base in UK region, which would surely help us grow in the market.

The revenue of the company for the FY 2023-24 amounted to GBP397,525 (PY: GBP 1,727,157 ) and the Profit after tax amounted to GBP 163,925 (PY: GBP 317,767).

The company is involved in providing software validation and verification services to its customers primarily in the banking, financial services and insurance segments. The company is in talks with the existing customers to obtain further projects and is focussed on increasing the client base in the UK region in the coming years.

The company has been delivering even during the COVID -19 pandemic times. The business model of the Company enables the electronic delivery of IT services, which has been put in place for several years before the pandemic began. Therefore, the management believes that the Company's current business activities are not materially affected, since the service delivery and supervisory/ management teams are able to work from home.


EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

STRATEGIC REPORT
FOR THE YEAR ENDED 31ST MARCH 2024

PRINCIPAL RISKS AND UNCERTAINTIES
The company's principal financial instrument comprise bank balances and trade debtors which have been generated through the company's regular operation. Due to the nature of the financial instruments used by the company there is low exposure to price risk. The company's approach to managing other risks applicable to the financial instruments concerned are as follows :

1. Interest Rate Risk : Interest rate risk is the risk that the value of a financial instrument will fluctuate due to changes in market interest rates. The company has no significant exposure to market risk for changes in interest rates because it has no interest bearing borrowings from any external sources.

2. Liquidity risk : Liquidity risk is the risk that the company will encounter difficulty in meeting financial obligations due to shortage of funds. The company has no significant liquidity risk as it maintains a level of cash and cash equivalents that is sufficient for working capital purpose.The liquidity risk is managed by maintaining a positive bank balance and ensuring there are sufficient funds to meet the payments as they fall due.

3. Credit Risk : Credit risk refers to the risk that the counterparty will default on its contractual obligation resulting in financial loss to the company. Trade Debtors are managed in respect of Credit and cash flows monitoring of amounts outstanding, and discussion with clients. The company only deal with creditworthy counterparties. The management however does not foresee any risk of default by the parties.


Cash at bank are placed with credit worthy financial institutions.

4. Foreign Currency Risk : The company has no significant exposure to foreign currency risk.

SECTION 172(1) STATEMENT
Company is exempt from the above disclosure on the grounds that threshold being not exceeded.

ON BEHALF OF THE BOARD:





Mr Balaji Viswanathan - Director


15th May 2024

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2024


The directors present their report with the financial statements of the company for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of IT related services, in particular the independent testing of software for the financial services industry. The company provides services mainly to its parent company in India.

DIVIDENDS
No dividends will be distributed for the year ended 31st March 2024.

DIRECTORS
Mr Stephen Michael Magennis has held office during the whole of the period from 1st April 2023 to the date of this report.

ENGAGEMENT WITH EMPLOYEES
Company is exempt from the above disclosure on the grounds that threshold being not exceeded.

ENGAGEMENT WITH SUPPLIERS, CUSTOMERS AND OTHERS
Business relationship with suppliers, customers and others has been healthy and strong as before and being maintained throughout the year.

STATEMENT OF CORPORATE GOVERNANCE ARRANGEMENTS
Company is exempt from the above disclosure on the grounds that threshold being not exceeded.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, PSJ Alexander & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr Balaji Viswanathan - Director


15th May 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
EXPLEO SOLUTIONS UK LTD


Opinion
We have audited the financial statements of Expleo Solutions UK Ltd (the 'company') for the year ended 31st March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st March 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
EXPLEO SOLUTIONS UK LTD


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- we reviewed the financial statement disclosures and testing to supporting documentation to assess compliance with
provisions of relevant laws and regulations that have a direct effect on the financial statements;
- we enquired with the management team concerning actual and potential litigation and claims;
- we performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material
misstatement due to fraud;
- we read minutes of meetings of those charged with governance;
- we obtained an understanding of any provisions and held discussions with management to understand the basis of
recognition or non-recognition of tax provisions; and
- we addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and
other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias;
and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of
business.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Vimal Shah (Senior Statutory Auditor)
for and on behalf of PSJ Alexander & Co
Chartered Accountants & Statutory Auditors
1 Doughty Street
London
WC1N 2PH

25th June 2024

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £    £    £   

TURNOVER 397,525 1,727,175

Other operating income - 5,435
397,525 1,732,610

Staff costs 4 294,810 249,177
Other operating expenses 78,944 1,209,970
373,754 1,459,147
OPERATING PROFIT 6 23,771 273,463

Interest receivable and similar income 196,500 118,785
PROFIT BEFORE TAXATION 220,271 392,248

Tax on profit 7 56,346 74,481
PROFIT FOR THE FINANCIAL YEAR 163,925 317,767

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

163,925

317,767

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 1 1

CURRENT ASSETS
Debtors 9 2,819,012 3,176,849
Cash at bank 2,159,990 658,705
4,979,002 3,835,554
CREDITORS
Amounts falling due within one year 10 2,845,693 1,866,170
NET CURRENT ASSETS 2,133,309 1,969,384
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,133,310

1,969,385

CAPITAL AND RESERVES
Called up share capital 11 350,000 350,000
Retained earnings 1,783,310 1,619,385
SHAREHOLDERS' FUNDS 2,133,310 1,969,385

The financial statements were approved by the Board of Directors and authorised for issue on 15th May 2024 and were signed on its behalf by:





Mr Balaji Viswanathan - Director


EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31ST MARCH 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st April 2022 350,000 1,301,618 1,651,618

Changes in equity
Total comprehensive income - 317,767 317,767
Balance at 31st March 2023 350,000 1,619,385 1,969,385

Changes in equity
Total comprehensive income - 163,925 163,925
Balance at 31st March 2024 350,000 1,783,310 2,133,310

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 15 1,426,310 (184,932 )
Tax paid (85,777 ) (57,781 )
Net cash from operating activities 1,340,533 (242,713 )

Cash flows from investing activities
Interest received 196,500 118,785
Net cash from investing activities 196,500 118,785

Cash flows from financing activities
New loans advanced in year (35,748 ) (309,892 )
Net cash from financing activities (35,748 ) (309,892 )

Increase/(decrease) in cash and cash equivalents 1,501,285 (433,820 )
Cash and cash equivalents at beginning of year 16 658,705 1,092,525

Cash and cash equivalents at end of year 16 2,159,990 658,705

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024


1. STATUTORY INFORMATION

Expleo Solutions UK 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. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The presentation currency is UK Pound Sterling (£).

Going concern
These financial statements have been prepared on the going concern basis which is dependent on the following considerations by the directors:

- The company has substantial net assets, and remains profitable. Its external customers are well known companies in
the financial sector.
- The company is not dependant on external financing.
- Forecasts of revenues and sales orders for the next 1-2 years indicate that the company will continue to meet its
liabilities as they fall due.

Based on the above, the director has concluded that there are no material uncertainties that may cast significant doubt on the ability of the company to continue as a going concern.

Significant judgements and estimates
The preparation of these financial statements requires management to make judgements, estimates and assumptions that affect amounts recognised for assets and liabilities at the reporting date and the amounts of revenue and expenses incurred during the reporting period. Actual outcomes may differ from these judgements, estimates and assumptions.

Turnover and trade debtors
Turnover represents the value of services provided to the immediate parent undertaking in India. It is determined in accordance with the transfer pricing agreement between the two companies and recognised in the period to which they relate.

Turnover excludes Value Added Taxes.

Invoices raised to end-customers and any trade debtors' balances due from these end-customers belong to the parent undertaking.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - at varying rates on cost
Computer equipment - at varying rates on cost

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.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 281,027 239,902
Social security costs 13,783 9,275
294,810 249,177

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Other staff 6 5

5. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Directors' remuneration - -

6. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Auditors remuneration 11,538 11,000
Foreign exchange differences 105,839 (132,446 )

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 56,346 74,481
Tax on profit 56,346 74,481

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 220,271 392,248
Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 -
19%)

55,068

74,527

Effects of:
Capital allowances in excess of depreciation (30 ) (28 )
Adjustments to tax charge in respect of previous periods 1,308 (18 )
Total tax charge 56,346 74,481

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


8. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 970 801 1,771
DEPRECIATION
At 1st April 2023
and 31st March 2024 969 801 1,770
NET BOOK VALUE
At 31st March 2024 1 - 1
At 31st March 2023 1 - 1

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

20242023
££
Trade debtors437,593830,055
Amounts owed by group undertakings2,348,6332,348,633
Staff advances706-
VAT-427
Prepayments32,080121
2,819,0123,176,849

Included in amounts owed by group undertakings is accrued income receivable from the parent undertaking of £311,155.

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,225
Amounts owed to group undertakings 2,743,956 1,711,639
Taxation 5,069 34,500
Social security and other taxes 7,454 1,439
VAT 30,166 -
Other creditors 686 -
Deferred income - 53,924
Accrued expenses 58,362 63,443
2,845,693 1,866,170

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
350,000 Ordinary 1.00 350,000 350,000

EXPLEO SOLUTIONS UK LTD (REGISTERED NUMBER: 07211807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024


12. ULTIMATE PARENT COMPANY

Expleo Group SAS (incorporated in France ) is regarded by the directors as being the company's ultimate parent company.

The immediate parent company is Expleo Solutions Limited a company registered in India and listed on the NSE and BSE exchanges. Copies of the consolidated financial statements can be obtained from the company's website.

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 ultimate controlling party is Ardian LBO Fund VI B.

Ardian LBO Fund VI B controls Expleo Group SAS by virtue of owning the majority of the shareholding

15. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2024 2023
£    £   
Profit before taxation 220,271 392,248
Finance income (196,500 ) (118,785 )
23,771 273,463
Decrease in trade and other debtors 393,585 689,078
Increase/(decrease) in trade and other creditors 1,008,954 (1,147,473 )
Cash generated from operations 1,426,310 (184,932 )

16. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31st March 2024
31/3/24 1/4/23
£    £   
Cash and cash equivalents 2,159,990 658,705
Year ended 31st March 2023
31/3/23 1/4/22
£    £   
Cash and cash equivalents 658,705 1,092,525


17. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/23 Cash flow At 31/3/24
£    £    £   
Net cash
Cash at bank 658,705 1,501,285 2,159,990
658,705 1,501,285 2,159,990
Total 658,705 1,501,285 2,159,990