Ruletronics Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07946822 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2020

FOR

RULETRONICS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N K Anisetty

S Chaturvedi

N Deshpande

REGISTERED OFFICE:

43 West Parkside

London

SE10 0QG

REGISTERED NUMBER:

07946822 (England and Wales)

AUDITORS:

Cameron Baum Hollander Limited

Chartered Accountants

Statutory Auditor

88 Crawford Street

London

W1H 2EJ

FIXED ASSETS

Tangible assets

4

7,606

8,116

CURRENT ASSETS

Debtors

881,469

760,706

Cash at bank

530,008

446,538

1,411,477

1,207,244

CREDITORS

Amounts falling due within one year

600,329

506,645

NET CURRENT ASSETS

811,148

700,599

TOTAL ASSETS LESS CURRENT LIABILITIES

818,754

708,715

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

818,554

708,515

818,754

708,715

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 29 February 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 May 2020 and were signed on its behalf by:

N K Anisetty - Director

1.	STATUTORY INFORMATION

Ruletronics Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial

Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and

the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial

statements are prepared in UK Pound Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, for the sale of goods and services in the

normal course of business, net of discounts, rebates and value added taxes.

Income is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on

dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated

with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be

measured reliably.

Tangible fixed assets

Fixtures and fittings, and computer equipment are stated at historical cost less accumulated depreciation and accumulated

impairment losses.

Depreciation is recognised to write off the cost of computer equipment costs less their residual values over their useful lives,

using the straight line method over a three year period.

The company's policy is to review the remaining useful economic lives and residual values of fixtures and fittings, and

computer equipment on an on-going basis and to adjust the depreciation charge to reflect the remaining estimated useful

economic life and residual value.

Fully depreciated fixtures and fittings, and computer equipment are retained in the cost of the assets and related accumulated

depreciation until they are removed from service. In case of disposals, assets and related depreciation are removed from the

financial statements and the net amount, less proceeds from disposal, is charged or credited to the profit and loss account.

Assets not carried at fair value are also reviewed for impairment whenever events or changes in circumstances indicate that

the carrying value may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying

value exceeds its recoverable amount.

The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. Value in use is defined as the

present value of the future pre-tax and interest cash flows obtainable as a result of the asset's continued use. The pre-tax and

interest cash flows are discounted using a pre-tax discount rate that represents the current market risk free rate and risks

inherent in the asset. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are

separately identifiable cash flows (cash-generating units).

If the recoverable amount of the asset (or asset's cash generating unit) is estimated to be lower than the carrying amount, the

carrying amount is reduced to the recoverable amount. An impairment loss is recognised in the profit and loss account, unless

the asset has been revalued when the amount is recognised in other comprehensive income to the extent of any previously

recognised revaluation. Thereafter any excess is recognised in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset (or asset's cash generating unit) is increased

to the revised estimate of its recoverable amount, but only to the extent that the revised carrying amount does not exceed the

carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised in prior

periods. A reversal of an impairment loss is recognised in the profit and loss account.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Foreign currencies

Items included in the financial statements of the company are measured using the currency of the primary economic

environment in which the company operates ("the functional currency"). The financial statements are presented in Sterling,

which is the company's functional and presentation currency and is denoted by the symbol "£".

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the

transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at

historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair

value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents and all other foreign exchange

gains and losses are presented in the profit and loss account within 'Foreign exchange losses or gains'.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

Employee benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are

charged to profit and loss in the period to which they relate.

The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements

and defined contribution pension plans.

Short term benefits:

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period

in which the service is received.

Annual bonus plans:

The company recognises a provision and an expense for bonuses where the company has a legal or constructive obligation as

a result of past events and a reliable estimate can be made.

Defined contribution pension plans:

The company operates a defined contribution plan. A defined contribution plan is a pension plan under which the company

pays fixed contributions into a separate fund. Under defined contribution plans, the company has no legal or constructive

obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to

employee service in the current and prior periods.

For defined contribution plans, the company pays contributions to privately administered pension plans on a contractual or

voluntary basis. The company has no further payment obligations once the contributions have been paid. The contributions are

recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent

that a cash refund or a reduction in the future payments is available.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2019 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2019

11,919

Additions

2,600

At 29 February 2020

14,519

DEPRECIATION

At 1 March 2019

3,803

Charge for year

3,110

At 29 February 2020

6,913

NET BOOK VALUE

At 29 February 2020

7,606

At 28 February 2019

8,116

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Daniel Baum (Senior Statutory Auditor)

for and on behalf of Cameron Baum Hollander Limited

6.	ULTIMATE PARENT COMPANY

FRS 102 (1A) 1AC34, requires the name of the controlling party of the 'smallest group' for consolidation and in this case it is

the ultimate parent company, Larsen and Toubro Infotech Limited, incorporated in India, whose Registered Office is L&T

House, Ballard Estate, Mumbai, Maharashtra, India.