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Unaudited Financial Statements for the Year Ended 31 December 2019 |
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Srindu Soft Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 December 2019 |
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for |
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Srindu Soft Ltd |
Srindu Soft Ltd (Registered number: 06031095) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Srindu Soft Ltd |
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Company Information |
for the Year Ended 31 December 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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2nd Floor, |
39 Ludgate hill |
London |
EC4M 7JN |
Srindu Soft Ltd (Registered number: 06031095) |
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Balance Sheet |
31 December 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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Investment property | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 11 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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Srindu Soft Ltd (Registered number: 06031095) |
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Balance Sheet - continued |
31 December 2019 |
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The director acknowledges her responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Srindu Soft Ltd (Registered number: 06031095) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Srindu Soft Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Computer Equipment 33.33% on SLB |
Motor Vehicle 25% on RBM |
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Investment property |
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are |
initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can |
be measured reliably without undue cost or effort on an on-going basis are measured at fair value. |
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Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in |
the period in which they arise. Investment property is shown at most recent valuation. Any aggregate surplus or |
deficit arising from changes in fair value is recognised in profit or loss. |
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No depreciation is provided on investment properties as a result of FRS 102 section 16, this represents a |
departure from the requirements of the Companies Act. In the opinion of the directors these properties are held |
primarily for their investment potential and so their current value is of more significance than any measure |
consumption and to depreciate them would not give a true and fair view. |
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However, the amount of depreciation cannot reasonably be quantified and the amount which might otherwise |
have been shown cannot be separated or quantified. |
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Taxation |
Taxation for the year comprises current and deferred tax. 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Srindu Soft Ltd (Registered number: 06031095) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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Srindu Soft Ltd holds 100% share capital of Optim Technologies Ltd, The Value are declared as book Value |
Srindu Soft Ltd (Registered number: 06031095) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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6. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2019 |
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Revaluations | Reserve | 55,400 |
At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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Fair value at 31 December 2019 is represented by: |
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Valuation in 2018 | 1,108,000 |
Valuation in 2019 | 55,400 |
1,163,400 |
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If investment property had not been revalued it would have been included at the following historical cost: |
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31.12.19 | 31.12.18 |
£ | £ |
Cost | 1,108,000 | 756,357 |
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Investment property was valued on an open market basis on 30 April 2020 by the director . |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade debtors |
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Amounts owed by associates |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Payments on account |
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Trade creditors |
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Amounts owed to associates | 54,438 | 54,438 |
Taxation and social security |
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Other creditors |
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Srindu Soft Ltd (Registered number: 06031095) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Bank loans |
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Hire purchase contracts |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 447,542 | 480,366 |
Barclays loan | 90,000 | 86,908 |
537,542 | 567,274 |
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10. | PROVISIONS FOR LIABILITIES |
31.12.19 | 31.12.18 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Deferred |
tax |
£ |
Balance at 1 January 2019 |
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Provided during year |
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Balance at 31 December 2019 |
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11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 January 2019 |
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Fair value reserve | 55,400 |
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At 31 December 2019 |
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Srindu Soft Ltd (Registered number: 06031095) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 December 2019 and |
31 December 2018: |
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31.12.19 | 31.12.18 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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At the balance sheet date, the company owes the director Mrs B C Prathap £47,753 (2018: £65,580 Dr). This is a |
interest free loan to the company. |
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At the balance sheet date, Srindu Soft Ltd owes £54,438 to Optim Technologies Ltd, and is owed £64,360 by |
Ampower Ltd and £73,706 by CIS Worldwide Ltd. |
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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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At the balance sheet date, Mr. V S Konala & Mrs. Chittoor Prathap Bindu Madhavi own 50% share each in the |
company and therefore, they are the ultimate controlling party. |