IRIS Accounts Production v24.3.0.553 08026713 Board of Directors 1.10.23 31.3.24 31.3.24 11/9/2024 false true false false false true false Auditors Opinion Equity shares 1.00000 Ordinary shares 1.00000 Redeemable preference shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh080267132023-09-30080267132024-03-31080267132023-10-012024-03-31080267132023-03-31080267132023-04-012023-09-30080267132023-09-3008026713ns15:EnglandWales2023-10-012024-03-3108026713ns14:PoundSterling2023-10-012024-03-3108026713ns10:Director12023-10-012024-03-3108026713ns10:PrivateLimitedCompanyLtd2023-10-012024-03-3108026713ns10:SmallEntities2023-10-012024-03-3108026713ns10:Audited2023-10-012024-03-3108026713ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-03-3108026713ns10:SmallCompaniesRegimeForAccounts2023-10-012024-03-3108026713ns10:FullAccounts2023-10-012024-03-310802671312023-10-012024-03-3108026713ns10:OrdinaryShareClass12023-10-012024-03-3108026713ns10:OrdinaryShareClass22023-10-012024-03-3108026713ns10:OrdinaryShareClass32023-10-012024-03-3108026713ns10:Director22023-10-012024-03-3108026713ns10:Director32023-10-012024-03-3108026713ns10:Director42023-10-012024-03-3108026713ns10:Director52023-10-012024-03-3108026713ns10:RegisteredOffice2023-10-012024-03-3108026713ns5:CurrentFinancialInstruments2024-03-3108026713ns5:CurrentFinancialInstruments2023-09-3008026713ns5:Non-currentFinancialInstruments2024-03-3108026713ns5:Non-currentFinancialInstruments2023-09-3008026713ns5:ShareCapital2024-03-3108026713ns5:ShareCapital2023-09-3008026713ns5:SharePremium2024-03-3108026713ns5:SharePremium2023-09-3008026713ns5:RetainedEarningsAccumulatedLosses2024-03-3108026713ns5:RetainedEarningsAccumulatedLosses2023-09-3008026713ns5:IntangibleAssetsOtherThanGoodwill2023-10-012024-03-3108026713ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-10-012024-03-3108026713ns5:IntangibleAssetsOtherThanGoodwill2023-09-3008026713ns5:IntangibleAssetsOtherThanGoodwill2024-03-3108026713ns5:IntangibleAssetsOtherThanGoodwill2023-09-3008026713ns5:PlantMachinery2023-09-3008026713ns5:PlantMachinery2023-10-012024-03-3108026713ns5:PlantMachinery2024-03-3108026713ns5:PlantMachinery2023-09-3008026713ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108026713ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3008026713ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-03-3108026713ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-09-3008026713ns10:OrdinaryShareClass12024-03-3108026713ns10:OrdinaryShareClass22024-03-3108026713ns10:OrdinaryShareClass32024-03-31
REGISTERED NUMBER: 08026713 (England and Wales)















Financial Statements for the Period 1 October 2023 to 31 March 2024

for

Spectra Global Solutions Ltd

Spectra Global Solutions Ltd (Registered number: 08026713)






Contents of the Financial Statements
for the Period 1 October 2023 to 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Spectra Global Solutions Ltd

Company Information
for the Period 1 October 2023 to 31 March 2024







DIRECTORS: M Elancheran
V P Ram
H Shankar
K J Stearn
L G Stevens





REGISTERED OFFICE: Carlson Suite
Building 8
Vantage Point Business Village
Mitcheldean
London
GL17 0DD





REGISTERED NUMBER: 08026713 (England and Wales)





AUDITORS: millhall consultants ltd
Carlson Suite
Vantage Point Business Village
Mitcheldean
Gloucestershire
GL17 0DD

Spectra Global Solutions Ltd (Registered number: 08026713)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 57 384
57 384

CURRENT ASSETS
Debtors 6 161,392 222,771
Cash at bank 91,733 93,208
253,125 315,979
CREDITORS
Amounts falling due within one year 7 1,092,990 1,697,153
NET CURRENT LIABILITIES (839,865 ) (1,381,174 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(839,808

)

(1,380,790

)

CREDITORS
Amounts falling due after more than one
year

8

1,400,000

1,400,000
NET LIABILITIES (2,239,808 ) (2,780,790 )

CAPITAL AND RESERVES
Called up share capital 9 1,915,002 1,915,002
Share premium 1,737,399 1,737,399
Retained earnings (5,892,209 ) (6,433,191 )
SHAREHOLDERS' FUNDS (2,239,808 ) (2,780,790 )

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 Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





K J Stearn - Director


Spectra Global Solutions Ltd (Registered number: 08026713)

Notes to the Financial Statements
for the Period 1 October 2023 to 31 March 2024

1. STATUTORY INFORMATION

Spectra Global 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

Taxation
Taxation for the period 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.

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 period 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.

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.

Spectra Global Solutions Ltd (Registered number: 08026713)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company made a profit for the year of £541,794 (2023: £19,522). At the year end it had net current liabilities of £839,865 (2023: £1,384,144), and net liabilities of £2,239,808 (2023: £2,781,602). The company is dependent on the continuing financial support of Newgen DigitalWorks Private Limited, its ultimate parent company. The directors have considered the going concern position of the company and its ability to meet its liabilities as they fall due over the next twelve months. The company is funded by and has received financial support from its fellow subsidiaries and at the year end a total of £900,179 (2023: £1,597,439) was owed to group undertakings, with £1,100 (2023: £2,300) owed by group undertakings.

Newgen DigitalWorks Private Limited has confirmed that it will continue to provide the necessary financial support to the company to enable it to continue to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements and to enable the company to continue to meet its liabilities as they fall due.

On the basis of the assessment of the company's financial position and the support provided by Newgen DigitalWorks Private Limited, at the time of approval of these financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence as a going concern for the foreseeable future and, in any event, for at least twelve months after the date of approval of these financial statements. The company has maintained its strong relationships in the industry and continues to win new contracts. Consequently the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2023
and 31 March 2024 2,385,700
AMORTISATION
At 1 October 2023
and 31 March 2024 2,385,700
NET BOOK VALUE
At 31 March 2024 -
At 30 September 2023 -

Spectra Global Solutions Ltd (Registered number: 08026713)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023
and 31 March 2024 19,978
DEPRECIATION
At 1 October 2023 17,436
Charge for period 2,485
At 31 March 2024 19,921
NET BOOK VALUE
At 31 March 2024 57
At 30 September 2023 2,542

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 144,841 189,009
Amounts owed by group undertakings 1,100 -
Other debtors 13,575 13,260
VAT - 14,188
Prepayments 1,876 6,314
161,392 222,771

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,354 4,891
Amounts owed to group undertakings 900,179 1,655,652
Social security and other taxes - 81
VAT 5,160 -
Accruals and deferred income 185,297 36,529
1,092,990 1,697,153

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Preference shares 1,400,000 1,400,000

Spectra Global Solutions Ltd (Registered number: 08026713)

Notes to the Financial Statements - continued
for the Period 1 October 2023 to 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares 1,400,000 1,400,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,001 Equity shares £1 5,001 -
10,001 Ordinary shares £1 10,001 15,002
1,900,000 Redeemable preference shares £1 1,900,000 1,900,000
1,915,002 1,915,002

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

The Report of the Auditors was unqualified.


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 case 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.

Ben Hall FCA (Senior Statutory Auditor)
for and on behalf of millhall consultants ltd

11. RELATED PARTY DISCLOSURES

The company has taken the exemption from disclosing related party transactions with companies under the same control in accordance with FRS 102 - Section 33 "Related Party Disclosures".

12. PARENT UNDERTAKING

The company is controlled by Newgen DigitalWorks Pvt Ltd., a company incorporated in India, based on its shareholding.

Newgen DigitalWorks Pvt Ltd. represents the smallest and largest group for which the consolidated accounts are prepared. Consolidated accounts are available from Newgen DigitalWorks Pvt Ltd., Third Floor, Baid Hi Tech, Park D, No 129B, Block 3B, East Coast Road, Thiruvanmiyur, Chennai,Tamil Nadu, India 600041.