Great_Software_Laboratory - Accounts

The director 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.

Great Software Laboratory UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Devonshire House, 60 Goswell Road, London, EC1M 7AD.

These financial statements have been prepared in accordance with FRS 102 1A “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 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 pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company made losses for the year of £46,186. The company had net assets of £20,814 at the period end. Included in creditors at the period end is a balance of £11,700 due to the parent company, Great Software Laboratory Private Limited. The parent company has agreed not to call in its loan and to provide continued financial support for a period of at least one year from the date of approval of the financial statements.

On the basis of the parent company support the directors consider it appropriate to prepare the financial statements on the going concern basis.

The financial statements were prepared for the period from the company's incorporation, on 18 September 2018, to 31 March 2019.

The company only has financial instruments classified as basic and measured at amortised cost. The company has no financial instruments that are classified as ‘other’ or financial instruments measured at fair value.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to income 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 lease asset are consumed.

The average monthly number of persons (including directors) employed by the company during the period was 1.

On 18 September 2018, 100 Ordinary share of £1 was issued at par.

On 15 March 2019, 66,900 Ordinary shares of £1 were issued at par.

The £67,000 investment was received by the company on 1 April 2019.

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 was unqualified.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

Included within creditors at year end was £11,700 due to the company's parent, Great Software Laboratory Private Limited, a company registered in India.

At the year end, £6,325 was due to Great Software Laboratory Incorporated, a company registered in the U.S.A.

The company is owned by Great Software Laboratory Private Limited, a company incorporated in India. Group accounts can be requested from Great Software Laboratory Private Limited, Amar Arma Genesis, Baner Road, Pune, 411045, India.