| Fintek Consultancy Ltd |
| Registered number: |
07298946 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 March 2025. |
|
| Principal activities |
| The company's principal activity during the year continued to be providing IT consultancy services. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
Mr Sandeep Manhas |
|
Mr Rajiv Minhas |
|
Swastika Jamwal |
|
Anna-Maria Manhas |
|
| Political donations |
| The company made no political donations during the year. |
|
| Directors' responsibilities |
| The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. |
|
| Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts 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 accounts 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 accounts, the directors are required to: |
| ● |
select suitable accounting policies and then apply them consistently; |
| ● |
make judgements and estimates that are reasonable and prudent; |
| ● |
prepare the accounts 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 accounts 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. |
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 15 December 2025 and signed on its behalf. |
|
|
|
|
|
| Sandeep Manhas |
| Director |
|
| Fintek Consultancy Ltd |
| Registered number: |
07298946 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
6,039 |
|
|
2,815 |
| Investments |
4 |
|
|
420,277 |
|
|
- |
|
|
|
|
426,316 |
|
|
2,815 |
|
| Current assets |
| Debtors |
5 |
|
194,951 |
|
|
233,205 |
| Cash at bank and in hand |
|
|
1,345,366 |
|
|
1,361,992 |
|
|
|
1,540,317 |
|
|
1,595,197 |
|
| Creditors: amounts falling due within one year |
6 |
|
(230,978) |
|
|
(97,691) |
|
| Net current assets |
|
|
|
1,309,339 |
|
|
1,497,506 |
|
| Total assets less current liabilities |
|
|
|
1,735,655 |
|
|
1,500,321 |
|
|
| Provisions for liabilities |
|
|
|
(1,510) |
|
|
(535) |
|
|
| Net assets |
|
|
|
1,734,145 |
|
|
1,499,786 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
1,734,045 |
|
|
1,499,686 |
|
| Shareholders' funds |
|
|
|
1,734,145 |
|
|
1,499,786 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Sandeep Manhas |
| Director |
| Approved by the board on 15 December 2025 |
|
| Fintek Consultancy Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 4 years |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company (including the directors) |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 April 2024 |
17,073 |
|
Additions |
5,970 |
|
At 31 March 2025 |
23,043 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
14,258 |
|
Charge for the year |
2,746 |
|
At 31 March 2025 |
17,004 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
6,039 |
|
At 31 March 2024 |
2,815 |
|
|
|
|
| 4 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
Additions |
420,277 |
|
|
At 31 March 2025 |
420,277 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
193,416 |
|
230,425 |
|
Other debtors |
1,535 |
|
2,780 |
|
|
|
|
|
|
194,951 |
|
233,205 |
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Corporation tax |
77,636 |
|
40,719 |
|
Other taxes and social security costs |
52,272 |
|
23,108 |
|
Other creditors |
101,070 |
|
33,864 |
|
|
|
|
|
|
230,978 |
|
97,691 |
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
The company has paid a sum towards sub-contract work, carried out at arms-length, to Fintek Software Services Private Limited, a company incorporated in India where the directors have interest. |
|
|
|
|
|
|
2025 |
|
2024 |
| £ |
£ |
|
|
Sub-contract work |
497,631 |
|
405,815 |
|
|
|
|
|
|
|
|
|
|
There were no other related party transactions during the year. |
|
|
| 8 |
Controlling party |
|
|
The directors have controlling stake in the company. |
|
|
| 9 |
Other information |
|
|
Fintek Consultancy Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/O Tax Partners |
|
60 Gray's Inn Road |
|
London |
|
United Kingdom |
|
WC1X 8LU |