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 £109,660. The company had net liabilities of £59,390 at the year end. Included in creditors at the year end is a balance of £124,483 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.true

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has considered the impact of the COVID-19 outbreak and the continued measures taken to contain it on the company and given the nature of the company’s activities the director does not believe that the impact is significant.

On the basis of the above, the director considers it appropriate to prepare the financial statements on the going concern basis.

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

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:

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.

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.

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 are included in the profit and loss account for the year.

The average monthly number of persons (including directors) employed by the company during the year was 2 (2020 - 1).

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.

On 9th November 2021, the group was acquired by Kedaara Capital Investment Managers Limited, a company incorporated in Mauritius, acquiring 89.98% equity within Great Software Laboratory Private Limited.

Included within creditors at year end was £124,483 (2020: £35,964) due to the company's parent, Great Software Laboratory Private Limited, a company registered in India.

At the year end, £7,600 (2020: £7,600) was due to Great Software Laboratory Incorporated, a company registered in the U.S.A.

The company at year end was owned by Great Software Laboratory Private Limited, a company incorporated in India.

As of 9th November 2021, the ultimate controlling party is Kedaara Capital Investment Managers Limited, a company incorporated in Mauritius.

Group accounts can be requested from Kedaara Capital Investment Managers Limited, Suite 11, 1st Floor, Plot 42, Hotel Street, Cybercity 72201, Ebene, Mauritius.