Company registration number: 04100859
COMPANY INFORMATION
CONTENTS
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Directors present their Strategic Report of the company for the year ended 31 March 2025.
The Directors are happy to report that the company has returned another year of Stable performance given the mixed economic climate and geo political changes affecting Trade in general globally. We thank our Customers who have stood by us all along and who have joined us this financial year for a successful and longstanding business relationship as we move ahead.
Customer focus is our priority and We believe in staying relevant and responsive to changes in the business environment, technology landscape and client’s demands. Be market ready and Sell what the clients want would be our Go-To strategies in the days to come. We have realized that by closely working with clients and adapting to market trends that work for us, we are able to evolve as a company in terms of capacity, quality and scalability. This helps to put us on the growth path and keep us in demand for new opportunities.
We have moved away from leaning on SAP based products and services over the past few years and focus on selling other platforms and subscription models comprising of Microsoft Azure, CSP, Managed Engine and other similar licenses. This has helped us to widen the scope of our services areas and provide our Clients with alternative platform options to enhance their Digital Infrastructure set up. This horizontal shift in adding to the product based services has resulted in an upswing in License resale revenues in the current year.
We continue to keep up the Service resolution quality and momentum to retain our sticky revenue accounts from Customer Support stream. We have consistently extended support to our Customers in keeping their production environment up and running while simultaneously expanding our non-SAP based support services.
We have decided to put an end to the Training Business stream this year and focus our resources to bring in new Consultancy projects and adding new Clients from Retail and Enterprise segments.
Consulting practice has remained stable and helped the company to add significant revenues during the year and maintain consistency with the volumes and client retentions.The company is keen to extend it’s leverage on the offshore model, associated skills pool and cost benefit to cross sell and enhance delivery quality for UK clients and projects. This has resonated well with the UK market and clients are keen to explore and work with the company’s offshore talent for their requirements thereby achieving savings on the budget spends without trade off on quality of services.
The Company’s key revenue stream around Strategic Consulting helps the Company to gain visibility in the industry, build strong technical case studies, and produce a good deliverables track record to target potential clients with its success stories. The company’s strong experience in Business Intelligence tools, delivery methods and skill sets coupled with access to a vast talented offshore pool of resources puts it in a vantage position to grow revenues from the Consulting stream. Our focus is to add new clients, engage deeply with existing clients to develop and increase the size and number of large accounts.
The Company is also putting the excess cash to good use and generate other operating income through investments in Treasury Deposits.
The Company has plans to re-visit the strategies in the coming year for re-building the group brand and go to the market with upgraded technologies and digital solutions that could act as a disruptor for clients to reshape their decisions and grow their business. This would open up new opportunities for the company and help it to ride on the technology wave with improved solution offerings.
Customer focus is our priority and We believe in staying relevant and responsive to changes in the business environment, technology landscape and client’s demands. Be market ready and Sell what the clients want would be our Go-To strategies in the days to come. We have realized that by closely working with clients and adapting to market trends that work for us, we are able to evolve as a company in terms of capacity, quality and scalability. This helps to put us on the growth path and keep us in demand for new opportunities.
We have moved away from leaning on SAP based products and services over the past few years and focus on selling other platforms and subscription models comprising of Microsoft Azure, CSP, Managed Engine and other similar licenses. This has helped us to widen the scope of our services areas and provide our Clients with alternative platform options to enhance their Digital Infrastructure set up. This horizontal shift in adding to the product based services has resulted in an upswing in License resale revenues in the current year.
We continue to keep up the Service resolution quality and momentum to retain our sticky revenue accounts from Customer Support stream. We have consistently extended support to our Customers in keeping their production environment up and running while simultaneously expanding our non-SAP based support services.
We have decided to put an end to the Training Business stream this year and focus our resources to bring in new Consultancy projects and adding new Clients from Retail and Enterprise segments.
Consulting practice has remained stable and helped the company to add significant revenues during the year and maintain consistency with the volumes and client retentions.The company is keen to extend it’s leverage on the offshore model, associated skills pool and cost benefit to cross sell and enhance delivery quality for UK clients and projects. This has resonated well with the UK market and clients are keen to explore and work with the company’s offshore talent for their requirements thereby achieving savings on the budget spends without trade off on quality of services.
The Company’s key revenue stream around Strategic Consulting helps the Company to gain visibility in the industry, build strong technical case studies, and produce a good deliverables track record to target potential clients with its success stories. The company’s strong experience in Business Intelligence tools, delivery methods and skill sets coupled with access to a vast talented offshore pool of resources puts it in a vantage position to grow revenues from the Consulting stream. Our focus is to add new clients, engage deeply with existing clients to develop and increase the size and number of large accounts.
The Company is also putting the excess cash to good use and generate other operating income through investments in Treasury Deposits.
The Company has plans to re-visit the strategies in the coming year for re-building the group brand and go to the market with upgraded technologies and digital solutions that could act as a disruptor for clients to reshape their decisions and grow their business. This would open up new opportunities for the company and help it to ride on the technology wave with improved solution offerings.
Page 1
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Company's financial instruments comprise cash and liquid resources, balances with group undertakings and various items such as trade debtors, trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for its operations. It is, and has been throughout the period under review, the Company's policy that no trading in financial instruments shall be undertaken. The main risks arising from the Company financial instruments are interest rate risk, liquidity risk and foreign currency risk and credit risk. The board reviews and agrees policies for managing each of these risks and they are summarised below.
Interest rate risk
The Company's interest rate risk exists in interest - bearing assets, such as an overdraft or loan, due to the possibility of a change in the value resulting from the variability of interest rates. The Company manages its interest rate risk by trying to avoid banking finance as far as possible and considering repaying the liability as it falls due and primarily on its own generated income and group supports.
Foreign currency risk
The Company is exposed to foreign currency risks arising from sales or purchases by businesses in currencies other than its functional currency. The Company manages this risk by operating its business transaction from different currency bank accounts. The Company does not enter into hedging instruments as it is not cost/benefit efficient at the current level of risk. However, the Company is evaluating exposures to forward instruments to mitigate this risk.
Credit Risk
The Company is exposed to credit-related losses to financial instruments, ie debtors, in the event of non-performance by its client’s counterparts, but does not currently expect any counterpart's to fail to meet their obligations. Credit risk is mitigated by the Board approved policy of only selecting counterparts with a good standing and a strong credit reference.
Liquidity Risk
The Company currently maintains credit facilities of at least £200,000 to ensure it has sufficient available funds for operations and planned development. The principal revolving credit facility is reviewed every year. At the balance sheet date, the Company had a Credit- card facility of £30 000 and the following undrawn credit facilities:
1. Overdraft facilities: £400,000 and:
2. Foreign exchange marginal risk facilities: £150,000
Non-Financial Risks
Operational Risk
The Company’s operational risk may arise out of interruptions to the business cycle due to external events like adverse weather conditions (fire, flood) and pandemics. The Company has the necessary resources at its disposal to quickly arrange for alternate arrangements from other locations and resort to remote working /work from home model to ensure continuity of operations. The Company also has insurance coverage in place to address business interruption scenarios should one arise.
Cyber Risk
The Company’s Cyber risk exposure lies in its vulnerability to Cyber and ransomware attacks which could affect operations and pose monetary implications. The Company has mitigated such risks by strengthening its security infrastructure, implementing End point controls and multi factor authentications and undertaking periodic vulnerability assessments. The Company has also moved its infrastructure from On-prem to Cloud based operations model to reduce and limit exposure to such external attacks.
Third Party Risk
The Company engages with third party service and hosting providers as part of its service model to clients thereby exposing itself to third party associated risks. But the Company has well defined and structured contractual arrangements and vetting mechanisms to ensure the engagements are tightly drawn out to factor and mitigate performance related liabilities. The Company also backs up its third party engagements with adequate Liability insurance coverages to protect the Company’s interests.
Interest rate risk
The Company's interest rate risk exists in interest - bearing assets, such as an overdraft or loan, due to the possibility of a change in the value resulting from the variability of interest rates. The Company manages its interest rate risk by trying to avoid banking finance as far as possible and considering repaying the liability as it falls due and primarily on its own generated income and group supports.
Foreign currency risk
The Company is exposed to foreign currency risks arising from sales or purchases by businesses in currencies other than its functional currency. The Company manages this risk by operating its business transaction from different currency bank accounts. The Company does not enter into hedging instruments as it is not cost/benefit efficient at the current level of risk. However, the Company is evaluating exposures to forward instruments to mitigate this risk.
Credit Risk
The Company is exposed to credit-related losses to financial instruments, ie debtors, in the event of non-performance by its client’s counterparts, but does not currently expect any counterpart's to fail to meet their obligations. Credit risk is mitigated by the Board approved policy of only selecting counterparts with a good standing and a strong credit reference.
Liquidity Risk
The Company currently maintains credit facilities of at least £200,000 to ensure it has sufficient available funds for operations and planned development. The principal revolving credit facility is reviewed every year. At the balance sheet date, the Company had a Credit- card facility of £30 000 and the following undrawn credit facilities:
1. Overdraft facilities: £400,000 and:
2. Foreign exchange marginal risk facilities: £150,000
Non-Financial Risks
Operational Risk
The Company’s operational risk may arise out of interruptions to the business cycle due to external events like adverse weather conditions (fire, flood) and pandemics. The Company has the necessary resources at its disposal to quickly arrange for alternate arrangements from other locations and resort to remote working /work from home model to ensure continuity of operations. The Company also has insurance coverage in place to address business interruption scenarios should one arise.
Cyber Risk
The Company’s Cyber risk exposure lies in its vulnerability to Cyber and ransomware attacks which could affect operations and pose monetary implications. The Company has mitigated such risks by strengthening its security infrastructure, implementing End point controls and multi factor authentications and undertaking periodic vulnerability assessments. The Company has also moved its infrastructure from On-prem to Cloud based operations model to reduce and limit exposure to such external attacks.
Third Party Risk
The Company engages with third party service and hosting providers as part of its service model to clients thereby exposing itself to third party associated risks. But the Company has well defined and structured contractual arrangements and vetting mechanisms to ensure the engagements are tightly drawn out to factor and mitigate performance related liabilities. The Company also backs up its third party engagements with adequate Liability insurance coverages to protect the Company’s interests.
Page 2
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Regulatory and Compliance Risk
The Company being part of the IT industry is regulated by various authoritative bodies and is required to comply with local laws and regulations. The Company has addressed this risk by employing skilled internal team capable of handling compliance related activities and ensuring Company’s adherence to local laws. The Company is also periodically subject to audits by external consultants which allows it to monitor compliances regularly. The Company also engages with professional firms and consultants to seek advisory where required to ensure adequate and appropriate compliance while conducting its business operations.
The Company being part of the IT industry is regulated by various authoritative bodies and is required to comply with local laws and regulations. The Company has addressed this risk by employing skilled internal team capable of handling compliance related activities and ensuring Company’s adherence to local laws. The Company is also periodically subject to audits by external consultants which allows it to monitor compliances regularly. The Company also engages with professional firms and consultants to seek advisory where required to ensure adequate and appropriate compliance while conducting its business operations.
The Company has the following key perfomance indicators:
Turnover without volume discount £17,167,053 (2024 - £17,082,074)
Profit after tax £1,072,280 (2024 - £1,231,999)
EBITDA £1,101,458 (2024 - £1,638,169)
Turnover without volume discount £17,167,053 (2024 - £17,082,074)
Profit after tax £1,072,280 (2024 - £1,231,999)
EBITDA £1,101,458 (2024 - £1,638,169)
This report was approved by the board on 24 May 2025 and signed on its behalf.
Page 3
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and the financial statements for the year ended 31 March 2025.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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 to 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.
The profit for the year, after taxation, amounted to £1,072,280 (2024 - £1,231,999).
The directors have recommended and paid a dividend of £519,350 during the year (2024: £152,750).
The directors who served during the year were:
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DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Saksoft Group is currently undertaking a re-branding and re-positioning exercise at an overall group level involving all its entities across the regions where the group currently operates. In order to improve focus and sharpen it’s go to market strategies, it has divided its target business areas into four broad categories or business verticals which are Hi-tech Media & Utilities, Fintech, Transportation & Logistics and Retail & E-Commerce. This would help the Group to employ its resources and infrastructure efficiently and in a more client-oriented direction. This would equip the Company to pitch its business offerings in a tailored and structured manner to clients in the respective industry and also customize its services to suit the specific requirements of the clients. We believe this focused and divided approach would enable the Company to improve its winnings and conversion of leads and pipelines into orders.
The larger Group is also planning to re-imagine the way it projects itself to the market in the coming year. It has planned investments in the Artificial Intelligence technology and business space and build a practice around AI in the coming year. The Group is keen to re-position itself as an AI led Digital Services Company. It has plans to skill up its resources across all entities of the Group in AI related technologies and revamp all its services offerings built on AI platforms. The Group is eager to take the early jump in the AI space and wants to be future ready, client ready and industry ready. We believe this would help the Company to sell solutions that would be futuristic and relevant to clients who want to upgrade and blend AI operational models into their business operations.
Market research says that AI is going to lead the next technology boom. The market potential for AI based services is expected to expand in to a multi-billion dollar industry in the next 4- 5 years. The Group is aiming to partner with ISV’s (Independent Software Vendors) to aid their systems integration and service delivery mechanisms to target double digit growth from these partnerships. We shall also work with our existing large enterprise accounts to enable AI led digital transformation services to be integrated into their technology journey.
Our aim is to bridge AI enablement with legacy systems and products in the near future and tap the market as a trusted partner for prospective clients. The value propositions would center around AI specialist Talent, Faster time to market with pre-built AI suite and AI Ecosystem leverage built on the underlying legacy of trust and services expertise of the Group.
The larger Group is also planning to re-imagine the way it projects itself to the market in the coming year. It has planned investments in the Artificial Intelligence technology and business space and build a practice around AI in the coming year. The Group is keen to re-position itself as an AI led Digital Services Company. It has plans to skill up its resources across all entities of the Group in AI related technologies and revamp all its services offerings built on AI platforms. The Group is eager to take the early jump in the AI space and wants to be future ready, client ready and industry ready. We believe this would help the Company to sell solutions that would be futuristic and relevant to clients who want to upgrade and blend AI operational models into their business operations.
Market research says that AI is going to lead the next technology boom. The market potential for AI based services is expected to expand in to a multi-billion dollar industry in the next 4- 5 years. The Group is aiming to partner with ISV’s (Independent Software Vendors) to aid their systems integration and service delivery mechanisms to target double digit growth from these partnerships. We shall also work with our existing large enterprise accounts to enable AI led digital transformation services to be integrated into their technology journey.
Our aim is to bridge AI enablement with legacy systems and products in the near future and tap the market as a trusted partner for prospective clients. The value propositions would center around AI specialist Talent, Faster time to market with pre-built AI suite and AI Ecosystem leverage built on the underlying legacy of trust and services expertise of the Group.
Details of risks arising from financial instruments and financial risk management are covered in the Strategic Report.
Page 5
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
There have been no significant events affecting the Company since the year end.
The auditor, Menzies LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 24 May 2025 and signed on its behalf.
Page 6
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACUMA SOLUTIONS LIMITED
We have audited the financial statements of Acuma Solutions Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Income and Retained Earnings, the Statement of Financial Position, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, 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).
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 Auditor's 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 United Kingdom, including the Financial Reporting Council'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.
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.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACUMA SOLUTIONS LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
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 Directors' Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACUMA SOLUTIONS LIMITED (CONTINUED)
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 an Auditor's Report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The Company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant including:
∙Companies Act 2006;
∙UK tax legislation;
∙Financial Reporting Standard 102; and
∙UK employment legislation;
We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
We understood how the Company is complying with those legal and regulatory frameworks by making inquiries of management and those responsible for legal and compliance procedures. We corroborated our inquiries through our review of relevant documentation.
The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. No issues were identified in this area.
We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
∙Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
∙Understanding how those charged with governance considered and addressed the potential for override of controls or
other inappropriate influence over the financial reporting process;
other inappropriate influence over the financial reporting process;
∙Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations; and
∙Challenging assumptions and judgements made by management in the application of accounting estimates.
As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:
∙Manipulation of accounting estimates
∙Posting of unusual journals and complex transactions
∙Manipulation of cut off of revenue.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditor's Report.
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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ACUMA SOLUTIONS LIMITED (CONTINUED)
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 an Auditor's Report 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.
for and on behalf of
Chartered Accountants
Statutory Auditor
95 Gresham Street
EC2V 7AB
24 May 2025
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STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2025
Page 11
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 May 2025.
The notes on pages 16 to 27 form part of these financial statements.
Page 12
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
Page 13
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
Page 14
ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 MARCH 2025
Page 15
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Acuma Solutions Limited 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 principal activities of the company in the year under review were those of digital transformation specialist and BI systems integrator focussed on information management.
The principal activities of the company in the year under review were those of digital transformation specialist and BI systems integrator focussed on information management.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company has been able to continue operating and to meet its debts as and when they fall due. The company retains net assets £6,632,919 (2023 - £6,079,989) After making all appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors believe that it is therefore appropriate to prepare the financial statements on a going concern basis.
Functional and presentation currency
Transactions and balances
Page 16
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Revenue is derived from ordinary activities and represents net invoiced services and re-charged expenses, excluding discounts and value added tax.
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty. The following criteria must also be met before revenue is recognised:
Sale of software and hardware
Revenue from the sale of software and hardware is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of goods.
Rendering of services
Revenue from the provision of services is recognised by reference to the state of completion for fixed price projects. Stage of completion is measured by reference to project days incurred to date as a percentage of total estimated project days for each contract. Revenue from time of materials contracts are recognised as the service are rendered.
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty. The following criteria must also be met before revenue is recognised:
Sale of software and hardware
Revenue from the sale of software and hardware is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of goods.
Rendering of services
Revenue from the provision of services is recognised by reference to the state of completion for fixed price projects. Stage of completion is measured by reference to project days incurred to date as a percentage of total estimated project days for each contract. Revenue from time of materials contracts are recognised as the service are rendered.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Assets costing £500 or less are written off fully in the year in which they are acquired.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
assumptions that affect the amounts reported. These estimates and judgments are continually reviewed and are
based on experience and other factors, including expectations of future events that are believed to be reasonable
under the circumstances.
A dilapidations provision has been recognised in the financial statements. Management are required to estimate the costs to reinstate the properties based on the contractual terms in the lease agreements. There are significant uncertainties around the timing of the cash outflow and discount rate used to establish the present value of the obligations due to the number of leases held by the company.
The provision has been calculated based on the historical experience of costs incurred and the most likely date of termination of each lease. The possible range of the provision at the year end is between £100,000 and £125,000. The balance of £112,000 recognised in the financial statements at the year end is the most likely outcome within the range.
Page 19
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of turnover by country of destination:
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page 21
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
There are no tax changes that may affect the future.
Page 22
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
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Page 25
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Share premium account
Profit and loss account
The company makes contributions to the personal pension schemes of its employees. The unpaid contributions outstanding at the year end included in creditors are £5,613 (2024: £8,355).
Page 26
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
The directors consider the ultimate parent undertaking and controlling party to be Saksoft Limited, a company incorporated in India.
The largest group of which the company is a member, and for which consolidated financial statements are prepared, is that group headed by Saksoft Limited. Copies of the group financial statements can be obtained from:
40 Global Infocity 2nd Floor, Dr. M G R Salai,
Perungudi, Chennai
600096
India
Applicon House
Exchange Street
Stockport SK3 0EY
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