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REGISTERED NUMBER: 09925569 (England and Wales)
























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

IN-TECH GROUP LTD

IN-TECH GROUP LTD (REGISTERED NUMBER: 09925569)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IN-TECH GROUP LTD

COMPANY INFORMATION
For The Year Ended 31 December 2024







DIRECTOR: M Ostermair





REGISTERED OFFICE: Lake View House
Tournament Fields
Warwickshire
CV34 6RG





REGISTERED NUMBER: 09925569 (England and Wales)





AUDITORS: TC Group
1 Rushmills
Bedford Road
Northampton
Northamptonshire
NN4 7YB

IN-TECH GROUP LTD (REGISTERED NUMBER: 09925569)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,604 17,435
Investments 5 - 3,723
16,604 21,158

CURRENT ASSETS
Debtors 6 669,772 466,628
Cash at bank 138,200 41,771
807,972 508,399
CREDITORS
Amounts falling due within one year 7 171,613 279,787
NET CURRENT ASSETS 636,359 228,612
TOTAL ASSETS LESS CURRENT LIABILITIES 652,963 249,770

CREDITORS
Amounts falling due after more than one
year

8

-

(800,000

)

PROVISIONS FOR LIABILITIES 9 (3,524 ) (3,017 )
NET ASSETS/(LIABILITIES) 649,439 (553,247 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 649,438 (553,248 )
SHAREHOLDERS' FUNDS 649,439 (553,247 )

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 11 March 2025 and were signed by:





M Ostermair - Director


IN-TECH GROUP LTD (REGISTERED NUMBER: 09925569)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 December 2024


1. STATUTORY INFORMATION

In-Tech Group 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.

The company is a wholly owned subsidiary of Infosys Limited (India), a company incorporated in India who are the ultimate controlling party of the entity since it's purchase within 2024: www.infosys.com

The company has two primary activities in the UK:
a) To deliver software and engineering services primarily to the UK automotive sector.
b) Acting as an offshoring location, supporting the groups' German and other global locations with software and engineering solutions for internal projects.

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.

There were no material departures from that standard.

The director deems the company to be a going concern based on the financial support available from its controlling party and improved balance sheet position as a result of the sale of the Indian subsidiary.

As at the point of authorising the accounts, and for the foreseeable future, the director consider the going concern assumption to still be appropriate. The director acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the director to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time.

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.
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

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.


IN-TECH GROUP LTD (REGISTERED NUMBER: 09925569)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


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.

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.

Going concern
The director considers the going concern assumption to be appropriate for the foreseeable future. The director acknowledges that, with potential for rapid change in the business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the director to represent a general inherent level of risk in relation to the going concern assumption, albeit not quantifiable at this time.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 30 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 10,014 25,912 35,926
Additions 1,227 7,508 8,735
At 31 December 2024 11,241 33,420 44,661
DEPRECIATION
At 1 January 2024 2,699 15,792 18,491
Charge for year 1,094 8,472 9,566
At 31 December 2024 3,793 24,264 28,057
NET BOOK VALUE
At 31 December 2024 7,448 9,156 16,604
At 31 December 2023 7,315 10,120 17,435

IN-TECH GROUP LTD (REGISTERED NUMBER: 09925569)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024 3,723
Disposals (3,723 )
At 31 December 2024 -
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 3,723

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 260,285 160,085
Amounts owed by group undertakings 60,410 -
Other debtors 88,172 79,549
Called up share capital not paid - 1
Prepayments and accrued income 260,905 226,993
669,772 466,628

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 9,716 4,513
Amounts owed to group undertakings 14,538 195,741
Social security and other taxes 57,025 46,796
VAT 58,889 25,118
Other creditors - (2,381 )
Accruals and deferred income 31,445 10,000
171,613 279,787

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings - 800,000

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 3,524 3,017

IN-TECH GROUP LTD (REGISTERED NUMBER: 09925569)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 December 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 3,017
Charge to Income Statement during year 507
Balance at 31 December 2024 3,524

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1

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

The Report of the Auditors was unqualified.

Dilun Mistry FCA (Senior Statutory Auditor)
for and on behalf of TC Group

12. 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.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Infosys Limited (India).

In September 2024, Infosys Limited (India) acquired 100% of the share capital of In-Tech Group Limited, making them the persons of significant control and the ultimate controlling party.

In-Tech Group GmbH remain the parent company of In-Tech Group Limited despite the full control of the UK entity by Infosys Limited.

14. SALE OF IN-TECH INDIA PRIVATE LIMITED

On the 17th July 2024, the full share capital of In-Tech Group India Private Limited was acquired by Infosys Limited. Whilst the In-Tech Group was acquired on 17th July 2024, India entity was sold on 30th August 2024.

The entity was professionally valued and at fair value, undertaken on a going concern premise that the Company will continue to operate in future and earn cash flows.

The entity was valued at INR 15,400,000, retranslated at the Bank of England's spot rate at the value of GBP 1,203,787 after overseas tax.