Pratham Software Ltd 31/03/2022 iXBRL

Pratham Software Ltd 31/03/2022 iXBRL

PRATHAM SOFTWARE LTD - Company Information

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Company Registration Number: 6350423
PRATHAM SOFTWARE LTD
Unaudited Filleted Financial Statements
31 March 2022
PRATHAM SOFTWARE LTD
Contents
Balance Sheet
Notes To The Financial Statements
PRATHAM SOFTWARE LTD
Balance Sheet
31 March 2022
2022 2021
Note £ £ £ £
Current assets
Debtors 5 225,136 153,107
Cash at bank and in hand 83,766 19,300
__________ __________
308,902 172,407
Creditors: amounts falling due
within one year 6 ( 229,830) ( 124,946)
__________ __________
Net current assets 79,072 47,461
__________ __________
Net assets 79,072 47,461
__________ __________
Capital and reserves
Called up share capital 7 10,000 10,000
Profit and loss account 69,072 37,461
__________ __________
Shareholders funds 79,072 47,461
__________ __________
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 June 2022 , and are signed on behalf of the board by:
........................... ...........................
Mr Puneet Mittal Mr Gulabchand Sharma
Director Director
Company Registration Number: 6350423
PRATHAM SOFTWARE LTD
Notes To The Financial Statements
Year Ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Pratham Software Ltd, Clifton House, Four Elms Road, Cardiff, CF24 1LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable forservices rendered, stated net of discounts and of Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference. However at 31 March 2022 there were no timing differences extant that would give rise to any liability for deferred tax.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. All of the financial instruments applicable to the company are basic, as defined in the Accounting Standard, and as such are initially recognised at the transaction price. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2021: 2 ).
5. Debtors
2022 2021
£ £
Trade debtors 225,136 128,107
Other debtors - 25,000
__________ __________
225,136 153,107
__________ __________
6. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 145,655 65,459
Corporation tax 7,415 6,691
Social security and other taxes 73,795 51,496
Other creditors and accruals 2,965 1,300
__________ __________
229,830 124,946
__________ __________
7. Called up share capital
Authorised share capital
2022 2021
No £ No £
Ordinary shares of £ 0.01 each 50,000,000 500,000 50,000,000 500,000
__________ __________ __________ __________
Issued, called up and fully paid
2022 2021
No £ No £
Ordinary shares of £ 0.01 each 1,000,000 10,000 1,000,000 10,000
__________ __________ __________ __________
8. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2022 2021 2022 2021
£ £ £ £
Pratham Software Private Ltd 942,256 775,924 (140,661) (64,299)
__________ __________ __________ __________
The above transaction disclosure relates to work subcontracted during the year to the company's parent.
9. Controlling party
The company's ultimate parent is Pratham Software Private Ltd, a company registered in India.