Company registration number 03804290 (England and Wales)
INFRASOFT TECHNOLOGIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
INFRASOFT TECHNOLOGIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
INFRASOFT TECHNOLOGIES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,423
8,256
Current assets
Stocks
15,232
305,748
Debtors
5
911,908
680,350
Cash at bank and in hand
218,293
76,253
1,145,433
1,062,351
Creditors: amounts falling due within one year
6
(738,428)
(541,213)
Net current assets
407,005
521,138
Net assets
412,428
529,394
Capital and reserves
Called up share capital
8
140,000
140,000
Profit and loss reserves
272,428
389,394
Total equity
412,428
529,394
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
Mr R Mirjankar
Director
Company registration number 03804290 (England and Wales)
INFRASOFT TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
Infrasoft Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 60-61 Cheapside, London, England, EC2V 6AX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
The company derives revenues primarily from software related services and from the licensing of software products. Arrangements with customers for software related services are either on a fixed price, fixed time frame or on a time and material basis.
Revenue on time and material contracts are recognised as the related services are performed and revenue from the end of the last billing to the balance sheet date is recognised as unbilled revenues.
Revenue from fixed price, fixed time frame contracts, where there is no uncertainty as to measurement or collectability of consideration, is recognised as per the proportionate completion method. When there is uncertainty as to measurement or ultimate collectability revenue recognition is postponed until such uncertainty is resolved.
Efforts expended have been used to measure progress towards completion as there is a direct relationship between input and productivity.
Costs and earnings in excess of billings are classified as unbilled revenue while billings in excess of costs and earnings are classified as unearned revenue (advance billing).
Revenue from maintenance services is recognised over the term of the contract on a straight line basis.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
Straight line over 10 years
Computers
Straight line over 3 years
Conference equipment
Straight line over 5 years
Improvements to property
Straight line over 3 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
INFRASOFT TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.5
Stocks
Stocks are made up of work in progress and unbilled revenue. Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion. Unbilled revenue represents a best estimate of the recoverable fair value of services provided to customers at the year end.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
INFRASOFT TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
INFRASOFT TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Leases
As lessee
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.11
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
12
11
4
Tangible fixed assets
Fixtures and fittings
Computers
Conference equipment
Improvements to property
Total
£
£
£
£
£
Cost
At 1 April 2024 and 31 March 2025
56,389
53,168
3,255
16,358
129,170
Depreciation and impairment
At 1 April 2024
51,186
50,115
3,255
16,358
120,914
Depreciation charged in the year
1,099
1,734
2,833
At 31 March 2025
52,285
51,849
3,255
16,358
123,747
INFRASOFT TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4
Tangible fixed assets
Fixtures and fittings
Computers
Conference equipment
Improvements to property
Total
£
£
£
£
£
(Continued)
- 6 -
Carrying amount
At 31 March 2025
4,104
1,319
5,423
At 31 March 2024
5,203
3,053
8,256
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
648,254
226,201
Other debtors
233,586
438,933
Prepayments and accrued income
30,068
15,216
911,908
680,350
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
18,243
766
Taxation and social security
181,992
93,320
Other creditors
40,200
96,583
Accruals and deferred income
497,993
350,544
738,428
541,213
7
Secured Debts
In relation to bank lending facilities the company has a debenture including a fixed charge over all present freehold and leasehold property, First fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future and a first floating chare over all assets and undertakings both present and future dated 14 September 2005.
The bank lending facilities were not being utilised by the company at the year end or the previous year end, and at no time during the financial year.
The company acts as a guarantor along with its fellow subsidiaries for the overdraft facility of the parent company, Infrasoft Technologies Limited (India), up to a value of £2,100,000.
INFRASOFT TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Authorised
Ordinary shares of £1 each
140,000
140,000
140,000
140,000
Issued and fully paid
Ordinary shares of £1 each
140,000
140,000
140,000
140,000
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its loss 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.
Senior Statutory Auditor:
Oliver Read FCCA ACA
Statutory Auditor:
James Todd and Co Limited
Date of audit report:
30 May 2025
10
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Total commitments
19,385
19,385
INFRASOFT TECHNOLOGIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
11
Parent company
The ultimate parent company is:
Infrasoft Technologies Limited
Unit No 86 & No 87
1st Floor
SDF III
SEEPZ SEX
Andheri (East)
Mumbai - 400 096
India
Infrasoft Technologies Limited prepares consolidated accounts and is both the smallest and largest group for which consolidated accounts, including Infrasoft Technologies Limited, are prepared.
12
FRC Ethical Standard - Provisions available for small entities
In common with many other businesses of similar size and nature, the company uses its auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.