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Registration number: 03744660

Contemi Solutions (London) Limited
Filleted Financial Statements
for the Year Ended 31 December 2024

Contemi Solutions (London) Limited

Contents

Statement of Directors' Responsibilities | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 8

Contemi Solutions (London) Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Contemi Solutions (London) Limited

(Registration number: 03744660)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 4 | 371,153 | 495,384
Tangible assets | 5 | 24,178 | 21,237
|  | 395,331 | 516,621
Current assets |  |  |
Debtors | 6 | 1,217,605 | 1,115,496
Cash at bank and in hand |  | 871,108 | 218,179
|  | 2,088,713 | 1,333,675
Creditors: Amounts falling due within one year | 7 | (1,394,495) | (1,358,065)
Net current assets/(liabilities) |  | 694,218 | (24,390)
Net assets |  | 1,089,549 | 492,231
Capital and reserves |  |  |
Called up share capital | 8 | 884,593 | 884,593
Retained earnings |  | 204,956 | (392,362)
Shareholders' funds |  | 1,089,549 | 492,231

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 July 2025 and signed on its behalf by:

......................................... G Subramanium Director
......................................... A J Barker Director

Contemi Solutions (London) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
SY2 6LG

These financial statements were authorised for issue by the Board on 23 July 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Contemi Solutions (London) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 23 July 2025 was Lee Baker FCA, who signed for and on behalf of Wenn Townsend.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.
License revenue: Licence fees are recognised based on the delivery of each milestone ie signing, UAT, Go Live etc. However, to align with the Global / Holding company policy, the software licenses have been categorised based on the nature of software and its usage. Accordingly, the software which is generally sold independently of hosting services is recognised on transfer of access rights. Other types of software (like SAAS) where the hosting is a critical component and the licence cannot be considered as independent of such hosting services, the revenue from such licenses is recognised over the period of services. Licenses which by their nature allow access over a period of time are recognised as income on a straight-line basis over the period of subscription.
Implementation and Development Revenue: For implementation and development revenue, turnover is recognised based on the percentage of completion of the project.
Maintenance / Subscription Revenue: Turnover is recognised on a straight-line basis over the life of the contract.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office fixtures and fittings | 20% reducing balance

Contemi Solutions (London) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Computer equipment | 30% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Computer software | 30% Straight Line
Development costs | 3 - 6 years straight line from point asset is available for use

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Contemi Solutions (London) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 34).

4 | Intangible assets

| Computer software £ | Development costs £ | Total £
Cost or valuation
At 1 January 2024 | 12,202 | 768,097 | 780,299
At 31 December 2024 | 12,202 | 768,097 | 780,299
Amortisation
At 1 January 2024 | 9,259 | 275,656 | 284,915
Amortisation charge | 885 | 123,346 | 124,231
At 31 December 2024 | 10,144 | 399,002 | 409,146
Carrying amount
At 31 December 2024 | 2,058 | 369,095 | 371,153
At 31 December 2023 | 2,943 | 492,441 | 495,384

Contemi Solutions (London) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5 | Tangible assets

| Computer equipment £ | Office fixtures and fittings £ | Total £
Cost or valuation
At 1 January 2024 | 93,972 | 425 | 94,397
Additions | 14,736 | - | 14,736
At 31 December 2024 | 108,708 | 425 | 109,133
Depreciation
At 1 January 2024 | 72,735 | 425 | 73,160
Charge for the year | 11,795 | - | 11,795
At 31 December 2024 | 84,530 | 425 | 84,955
Carrying amount
At 31 December 2024 | 24,178 | - | 24,178
At 31 December 2023 | 21,237 | - | 21,237

6 | Debtors

| 2024 £ | 2023 £
Trade debtors | 18,910 | 210,196
Amounts owed by group undertakings | 1,069,248 | 844,121
Amounts owed by former group undertakings | - | 2,074,353
Provision for expected credit allowances for former group undertakings | - | (2,074,353)
Prepayments | 129,447 | 61,179
| 1,217,605 | 1,115,496

Contemi Solutions (London) Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Trade creditors |  | 57,556 | 35,507
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 9 | - | 255,648
Taxation and social security |  | 148,522 | 104,490
Accruals and deferred income |  | 1,173,242 | 946,953
Other creditors |  | 15,175 | 15,467
|  | 1,394,495 | 1,358,065

8 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary share of £1 each | 884,593 | 884,593 | 884,593 | 884,593

9 | Related party transactions

There were no transactions requiring disclosure under FRS 102 Section 1A.

10 | Parent and ultimate parent undertaking

The company's immediate parent is Indigo (London) Holdings Limited, incorporated in England and Wales.
The ultimate parent is Triple P Insurance Holding Pte. Ltd, incorporated in Singapore.
The most senior parent entity producing publicly available financial statements is Triple P Insurance Holding Pte. Ltd. These financial statements are available upon request from 190 Clemenceau Avenue, #06-11, Singapore Shopping Centre Singapore-239924.
The ultimate controlling party is Triple P Insurance Holding Pte. Ltd.