IRIS Accounts Production v25.3.0.601 03105853 Board of Directors Board of Directors 1.4.24 31.3.25 31.3.25 marketing and support of information technology solutions, systems integration, networking and the rendering of professional services in the development and maintenance of computer systems and related activities. false true true false false true true false Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03105853 2024-03-31 03105853 2025-03-31 03105853 2024-04-01 2025-03-31 03105853 2023-03-31 03105853 2023-04-01 2024-03-31 03105853 2024-03-31 03105853 ns15:EnglandWales 2024-04-01 2025-03-31 03105853 ns14:PoundSterling 2024-04-01 2025-03-31 03105853 ns10:Director1 2024-04-01 2025-03-31 03105853 ns10:Director2 2024-04-01 2025-03-31 03105853 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03105853 ns10:FRS102 2024-04-01 2025-03-31 03105853 ns10:Audited 2024-04-01 2025-03-31 03105853 ns10:LargeCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 03105853 ns10:LargeCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03105853 ns10:FullAccounts 2024-04-01 2025-03-31 03105853 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 03105853 ns10:Director3 2024-04-01 2025-03-31 03105853 ns10:Director4 2024-04-01 2025-03-31 03105853 ns10:CompanySecretary1 2024-04-01 2025-03-31 03105853 ns10:RegisteredOffice 2024-04-01 2025-03-31 03105853 ns5:CurrentFinancialInstruments 2025-03-31 03105853 ns5:CurrentFinancialInstruments 2024-03-31 03105853 ns5:ShareCapital 2025-03-31 03105853 ns5:ShareCapital 2024-03-31 03105853 ns5:SharePremium 2025-03-31 03105853 ns5:SharePremium 2024-03-31 03105853 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 03105853 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 03105853 ns5:ShareCapital 2023-03-31 03105853 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 03105853 ns5:SharePremium 2023-03-31 03105853 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03105853 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 03105853 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2024-04-01 2025-03-31 03105853 ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount 2023-04-01 2024-03-31 03105853 ns5:OwnedAssets 2024-04-01 2025-03-31 03105853 ns5:OwnedAssets 2023-04-01 2024-03-31 03105853 11 2024-04-01 2025-03-31 03105853 11 2023-04-01 2024-03-31 03105853 1 2024-04-01 2025-03-31 03105853 1 2023-04-01 2024-03-31 03105853 ns5:LandBuildings 2024-03-31 03105853 ns5:FurnitureFittings 2024-03-31 03105853 ns5:ComputerEquipment 2024-03-31 03105853 ns5:LandBuildings 2024-04-01 2025-03-31 03105853 ns5:FurnitureFittings 2024-04-01 2025-03-31 03105853 ns5:ComputerEquipment 2024-04-01 2025-03-31 03105853 ns5:LandBuildings 2025-03-31 03105853 ns5:FurnitureFittings 2025-03-31 03105853 ns5:ComputerEquipment 2025-03-31 03105853 ns5:LandBuildings 2024-03-31 03105853 ns5:FurnitureFittings 2024-03-31 03105853 ns5:ComputerEquipment 2024-03-31 03105853 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 03105853 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 03105853 ns10:OrdinaryShareClass1 2025-03-31 03105853 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 03105853 ns5:SharePremium 2024-03-31 03105853 ns5:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-04-01 2025-03-31

REGISTERED NUMBER: 03105853 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 March 2025

for

Business Connexion Limited

Business Connexion Limited (Registered number: 03105853)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

| Company Information | 1 |

| Report of the Directors | 2 |

| Report of the Independent Auditors | 4 |

| Statement of Comprehensive Income | 8 |

| Statement of Financial Position | 9 |

| Statement of Changes in Equity | 10 |

| Notes to the Financial Statements | 11 |

Business Connexion Limited

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | D J Hattingh

| S A Mpahlwa

| L Joubert

| C Venter

| SECRETARY: | D J Hattingh

| REGISTERED OFFICE: | Connexion House, 4 Arlington Court

| Whittle Way

| Arlington Business Park

| Stevenage

| Hertfordshire

| SG1 2FS

| REGISTERED NUMBER: | 03105853 (England and Wales)

| AUDITORS: | GH Audit Limited

| Unit 1b

| Focus 4

| Fourth Avenue

| Letchworth

| Hertfordshire

| SG6 2TU

| SOLICITORS: | DLA Piper UK LLP

| Princes Exchange

| Princes Square

| Leeds

| LS1 4BY

Business Connexion Limited (Registered number: 03105853)

Report of the Directors

for the Year Ended 31 March 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

D J Hattingh

S A Mpahlwa

Other changes in directors holding office are as follows:

L Joubert - appointed 20 March 2025

C Venter - appointed 20 March 2025

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. 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 then apply them consistently;

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

- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

- | 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Business Connexion Limited (Registered number: 03105853)

Report of the Directors

for the Year Ended 31 March 2025

AUDITORS

The auditors, GH Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

D J Hattingh - Director

6 August 2025

Report of the Independent Auditors to the Members of

Business Connexion Limited

Opinion

We have audited the financial statements of Business Connexion Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Business Connexion Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Business Connexion Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

We obtained an understanding of the legal and regulatory framework applicable to the Company, and the industry in which it operates by making enquiries of management. We also enquired as to whether there were any instances of non compliance with laws and regulations or whether there were any instances of fraud detected or suspected. The key laws and regulations considered include the UK Companies Act and UK Tax Legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. These included compliance with Health and Safety legislation.

We obtained an understanding of the Company's operations, including the nature of the company, its control environment, business performance and its key performance indicators.

In relation to fraud, the objectives of our audit are to identify and assess the risk of material misstatement of the financial statements due to fraud, to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud and suspected fraud identified during the audit. However it is the primary responsibility of management and those charged with governance to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

We considered the extent to which non-compliance would have a material impact on the financial statements. We also evaluated the managements incentives and opportunities for fraudulent manipulation of the financial statements, including management override of controls, and determined that the principal risks were related to:

- Management bias in accounting estimates;

- Revenue recognition; and

- Management override of controls

Audit response to risks identified:

Substantive testing was undertaken on the completeness of revenue by way of tracing billable hours booked by employees/contractors through to being invoiced/included in the financial statements.The system for the recharge of hardware was also reviewed and substantive testing undertaken as required. Revenue recognition for software sales has also been discussed with management and tested.

Testing was undertaken on the completeness of liabilities to include both substantive and analytical procedures. Standard procedures were used to test management override including the review of year end journals and whether the judgments made in making accounting estimates are indicative of potential bias.This included the calculation of the deferred tax asset which is a significant accounting estimate. We reviewed the minutes of any meetings of those charged with governance held in the period together with follow up discussions on amounts included in the accounts.

To cover the the other assessed risks in relation to management override of controls namely fraudulent payments, we ensure that transactions are undertaken in line with the company's authority matrix, together with substantive testing of a sample of expenses in the profit and loss to ensure that they are genuine business expenses. We also perform analytical procedures to identify any unusual or unexpected relationship that may indicate risks of material misstatement due to fraud or other irregularities, these procedures also include the review of profit margins.

We remained alert to any indications of fraud or non compliance throughout the entire audit process.

Report of the Independent Auditors to the Members of

Business Connexion Limited

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. This risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Martin Williams ACA (Senior Statutory Auditor)

for and on behalf of GH Audit Limited

Unit 1b

Focus 4

Fourth Avenue

Letchworth

Hertfordshire

SG6 2TU

9 September 2025

Business Connexion Limited (Registered number: 03105853)

Statement of Comprehensive

Income

for the Year Ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 3 | 3,908,031 |  | 2,989,345 |  |

Cost of sales | 3,365,633 |  | 2,473,146 |  |

GROSS PROFIT | 542,398 |  | 516,199 |  |

Administrative expenses | 367,376 |  | 357,007 |  |

175,022 |  | 159,192 |  |

Other operating income | 39,858 |  | 38,057 |  |

OPERATING PROFIT | 5 | 214,880 |  | 197,249 |  |

Interest receivable and similar income | 29,728 |  | 20,465 |  |

PROFIT BEFORE TAXATION | 244,608 |  | 217,714 |  |

Tax on profit | 6 | (44,171 | ) | 9,500 |  |

PROFIT FOR THE FINANCIAL YEAR | 288,779 |  | 208,214 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 288,779 |  | 208,214 |  |

Business Connexion Limited (Registered number: 03105853)

Statement of Financial Position

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 7 | 435,442 |  | 448,436 |  |

CURRENT ASSETS

Debtors | 8 | 545,026 |  | 393,802 |  |

Cash at bank and in hand | 2,016,276 |  | 1,796,908 |  |

2,561,302 |  | 2,190,710 |  |

CREDITORS

Amounts falling due within one year | 9 | 331,765 |  | 262,946 |  |

NET CURRENT ASSETS | 2,229,537 |  | 1,927,764 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,664,979 |  | 2,376,200 |  |

CAPITAL AND RESERVES

Called up share capital | 12 | 2,100 |  | 2,100 |  |

Share premium | 13 | 5,199,912 |  | 5,199,912 |  |

Retained earnings | 13 | (2,537,033 | ) | (2,825,812 | ) |

SHAREHOLDERS' FUNDS | 2,664,979 |  | 2,376,200 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2025 and were signed on its behalf by:

D J Hattingh - Director

S A Mpahlwa - Director

Business Connexion Limited (Registered number: 03105853)

Statement of Changes in Equity

for the Year Ended 31 March 2025

| Called up |

| share |  | Retained |  | Share |  | Total

| capital |  | earnings |  | premium |  | equity

£ | £ | £ | £ |

Balance at 1 April 2023 | 2,100 |  | (3,034,026 | ) | 5,199,912 |  | 2,167,986 |  |

Changes in equity

Total comprehensive income | - |  | 208,214 |  | - |  | 208,214 |  |

Balance at 31 March 2024 | 2,100 |  | (2,825,812 | ) | 5,199,912 |  | 2,376,200 |  |

Changes in equity

Total comprehensive income | - |  | 288,779 |  | - |  | 288,779 |  |

Balance at 31 March 2025 | 2,100 |  | (2,537,033 | ) | 5,199,912 |  | 2,664,979 |  |

Business Connexion Limited (Registered number: 03105853)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Business Connexion 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 applicable accounting standards including Financial Reporting Standard 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland' (FRS 102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company.

| Financial Reporting Standard 102 - reduced disclosure exemptions

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

| • | the requirements of Section 7 Statement of Cash Flows;

| • | the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

| • | the requirement of paragraph 33.7.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Significant judgements and estimates

| The company has recognised a deferred tax asset based on the utilisation of tax losses against future taxable profits. In arriving at the asset in the accounts the directors have used a period of 10 years forecast profits discounted for uncertainty to arrive at a probable future profits figure which has been applied to known tax rates in that period. The balance of tax losses are unprovided. Please refer to note 8.

| Turnover

| Turnover represents amounts receivable for goods and services provided in the normal course of the business, net of trade discounts, VAT and other sales related taxes.

| Revenue from the sale of goods is recognised when the risks and rewards of ownership have been transferred to the client, the consideration has been agreed by contract or is determinable, and it is probable that the associated receivables will be collected.

| Revenue from service contracts is recognised based on billable hours worked on each contract at the agreed rates.

Business Connexion Limited (Registered number: 03105853)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

| Freehold buildings 2% on cost

| Fixtures and fittings 20% on cost

| Computer Equipment 33% on cost

| Land and buildings have been valued at historic cost less impairment. The building is considered as Property Plant and Equipment due to the use of the server room in the business with any rental income received being incidental.

| Financial instruments

| Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case these are stated at cost.

| Short term debtors are measured at transaction price less impairment losses for bad and doubtful debts.

| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

| Taxation

| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

| Foreign currencies

| The financial statements are presented in Sterling (GBP), which is the functional currency of the Company.

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Business Connexion Limited (Registered number: 03105853)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

| Operating leases

| Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by geographical market is given below:

| 2025 |  | 2024

£ | £ |

| UK | 2,376,435 |  | 1,663,906 |  |

| Europe | 9,931 |  | 204,770 |  |

| South Africa | 1,492,967 |  | 1,065,707 |  |

| Africa - Other | 28,698 |  | 54,962 |  |

3,908,031 |  | 2,989,345 |  |

| The turnover and profit before taxation are attributable to the one principal activity of the company.

4. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 514,080 |  | 521,302 |  |

| Social security costs | 61,270 |  | 61,293 |  |

| Other pension costs | 55,811 |  | 47,658 |  |

631,161 |  | 630,253 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

| Executive management | 2 |  | 2 |  |

| Information technology related services | 5 |  | 5 |  |

7 |  | 7 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 108,377 |  | 109,738 |  |

| Directors' pension contributions to money purchase schemes | 32,050 |  | 26,366 |  |

| The number of directors to whom retirement benefits were accruing was as follows:

| Money purchase schemes | 2 |  | 1 |  |

Business Connexion Limited (Registered number: 03105853)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

5. | OPERATING PROFIT

| The operating profit is stated after charging/(crediting):

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 14,329 |  | 14,124 |  |

| Auditors remuneration | 9,729 |  | 10,601 |  |

| Foreign exchange differences | (2,933 | ) | (565 | ) |

| Operating Lease Income | (31,500 | ) | (31,500 | ) |

6. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 17,247 |  | 9,500 |  |

| Deferred tax | (61,418 | ) | - |  |

| Tax on profit | (44,171 | ) | 9,500 |  |

| Reconciliation of total tax (credit)/charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 2025 |  | 2024

£ | £ |

| Profit before tax | 244,608 |  | 217,714 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 61,152 |  | 54,429 |  |

| Effects of:

| Expenses not deductible for tax purposes | 429 |  | - |  |

| Depreciation in excess of capital allowances | 2,998 |  | 2,624 |  |

| capital allowances |

| Utilisation of tax losses | (50,260 | ) | (42,986 | ) |

| Taxation underprovided | 2,928 |  | (4,567 | ) |

| Deferred Tax Movement | (61,418 | ) | - |  |

| Total tax (credit)/charge | (44,171 | ) | 9,500 |  |

Business Connexion Limited (Registered number: 03105853)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | TANGIBLE FIXED ASSETS

| Fixtures |

| Freehold |  | and |  | Computer |

| property |  | fittings |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 April 2024 | 652,839 |  | 122,429 |  | 375,650 |  | 1,150,918 |  |

| Additions | - |  | - |  | 1,334 |  | 1,334 |  |

| Disposals | - |  | - |  | (4,654 | ) | (4,654 | ) |

| At 31 March 2025 | 652,839 |  | 122,429 |  | 372,330 |  | 1,147,598 |  |

| DEPRECIATION

| At 1 April 2024 | 206,731 |  | 122,429 |  | 373,322 |  | 702,482 |  |

| Charge for year | 13,057 |  | - |  | 1,272 |  | 14,329 |  |

| Eliminated on disposal | - |  | - |  | (4,655 | ) | (4,655 | ) |

| At 31 March 2025 | 219,788 |  | 122,429 |  | 369,939 |  | 712,156 |  |

| NET BOOK VALUE

| At 31 March 2025 | 433,051 |  | - |  | 2,391 |  | 435,442 |  |

| At 31 March 2024 | 446,108 |  | - |  | 2,328 |  | 448,436 |  |

8. | DEBTORS

2025 | 2024 |

£ | £ |

| Amounts falling due within one year:

| Trade debtors | 258,437 |  | 231,256 |  |

| Amounts owed by group undertakings | 5,527 |  | 29,172 |  |

| Sundry Debtors and Prepayments | 108,876 |  | 22,606 |  |

372,840 |  | 283,034 |  |

| Amounts falling due after more than one year:

| Deferred tax asset | 172,186 |  | 110,768 |  |

| Aggregate amounts | 545,026 |  | 393,802 |  |

| At 31 March 2025 the company had a total potential deferred tax asset of £753,451 (2024 - £806,325). The asset is recoverable against future profits. A deferred tax asset of £172,186 has been recognised in the accounts based on forecast profits assessed as probable. Both calculations take account of future announced tax rate changes as detailed in note 6.

9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 17,026 |  | 36,701 |  |

| Tax | 14,319 |  | 9,501 |  |

| Social security and other taxes | 57,720 |  | 45,253 |  |

| Sundry Creditors and Accruals | 242,700 |  | 171,491 |  |

331,765 |  | 262,946 |  |

Business Connexion Limited (Registered number: 03105853)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

10. | LEASING AGREEMENTS

| The company leases out a property it owns and receives rental income.

| The future minimum lease rentals falling under the lease are as follows:

|  | 2025 |  | 2024 |  |

| Within one year |  | £31,500 |  | £23,625 |  |

| Between one and five years |  | £23,625 |  | £0.00 |  |

| Total receivable |  | £55,125 |  | £23,625 |  |

| The lease states that there are two break clauses, one at the anniversary date of the lease which is in December 2024 which has now passed and the second on the third anniversary, December 2026.

11. | FINANCIAL INSTRUMENTS

| Exposure to foreign currency, credit and liquidity risks arises in the normal course of the Company's business. These risks are limited by the Company's financial management policies and practices described below:

| Foreign currency risk

| The Company has limited exposure to foreign currency risk. The majority of the Company's sales and purchases are denominated in Sterling. The Company monitors their foreign currency risk closely and takes steps to minimise this risk at an early stage.

| Credit risk

| The Company is at risk from its customers defaulting in making payments for goods and services that have been supplied to them. To minimise this risk the Company has procedures in place to ensure that customers have either demonstrated creditworthiness or can provide sufficient collateral prior to delivery of goods. The Company's exposure to this risk is continually monitored so that any potential problems are detected at an early stage.

| Liquidity risk

| The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves, banking facilities and reserve borrowing facilities. They do this by continually monitoring forecast and actual cash flows.

12. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 2,100 | Ordinary | £1 | 2,100 |  | 2,100 |  |

Business Connexion Limited (Registered number: 03105853)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

13. | RESERVES

| Retained |  | Share |

| earnings |  | premium |  | Totals

£ | £ | £ |

| At 1 April 2024 | (2,825,812 | ) | 5,199,912 |  | 2,374,100 |  |

| Profit for the year | 288,779 |  | 288,779 |  |

| At 31 March 2025 | (2,537,033 | ) | 5,199,912 |  | 2,662,879 |  |

| Share premium account - the share premium account represents the premium arising on the issue of shares net of issue costs.

| Profit and loss account - the profit and loss account represents cumulative profits and losses net of dividends and other adjustments.

14. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from the company in an independently administered fund. The pension cost charge for the period represents contributions payable by the company to the fund and amounted to £55,811 (2024 £47,658).

15. | ULTIMATE PARENT COMPANY

| The directors consider Business Connexion International Group Holdings (Pty) Limited, incorporated in South Africa, to be the immediate parent company and the ultimate parent company and controlling party to be Telkom SA SOC Limited, incorporated in South Africa. Accounts for this company can be obtained from Telkom SA SOC Limited, 61 Oak Avenue, Highveld, Centurion 0157 South Africa.

16. | RELATED PARTY DISCLOSURES

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Key management personnel of the entity or its parent (in the aggregate)

2025 | 2024 |

£ | £ |

| Aggregate remuneration | 304,651 |  | 258,128 |  |

17. | GENERAL INFORMATION

| Business Connexion Limited is a limited company incorporated in England. The addresses of its registered office and principal place of business are disclosed in the Company Information report on page 1.

| The principal activity of the Company is the marketing and support of information technology solutions, systems integration, networking and the rendering of professional services in the development and maintenance of computer systems and related activities.