Company Registration number: 04307378

Torry Harris Business Solutions (Europe) Ltd

Contents

Company Information	1
Strategic Report	2
Director's Report	3
Statement of Director's Responsibilities	4
Independent Auditor's Report	5 to 8
Profit and Loss Account	9
Statement of Comprehensive Income	10
Balance Sheet	11
Statement of Changes in Equity	12
Statement of Cash Flows	13
Notes to the Financial Statements	14 to 24

Torry Harris Business Solutions (Europe) Ltd

Company Information

Director

G S B Nagaraj

Registered office

Orion House 4-5 Axis First Floor Bradley Stoke BS32 4JT

Auditors

Albert Goodman LLP Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX

Torry Harris Business Solutions (Europe) Ltd

Strategic Report for the Year Ended 31 March 2025

The director presents the strategic report for the year ended 31 March 2025.

Principal activity

The principal activity of the company is software development.

Fair review of the business

Like all businesses in the past few years, Torry Harris has endured the challenges of post Covid-19 crisis and other economic turbulence. In the increasingly complex world of IT, with its bewildering array of choices and options, the need for clarity and sound advice based upon skills and experience is fundamental to navigating a safe roadmap for change.

Turnover in the year under review was £29.9 million compared to £31.8 million in the previous period ended 31 March 2024. Turnover reflected the continued demand for the company’s services. Gross margins have changed to 9.7% compared with the prior year at 9.81%, reflecting market conditions during the financial period. Turnover and gross margin represent the company’s key performance indicators.

Principal risks and uncertainties

The key business risks affecting the company are considered to relate to the economic environment, technology obsolescence and the competitive environment.

The turbulent economic environment of the past few years, including the cost of living crisis, has presented challenges for the business. The company must remain agile in managing this risk. The company considers this an opportunity for the changing needs of customers, for example, scalable digital business models, reinventing commerce, optimisation and cost reduction, AI automation, enabling and accelerating digital collaboration.

Competitive environment: The company operates in a highly competitive market against many established providers as well as new providers entering UK market. The company continues to transform itself to remain competitive in the market and we promote our ability to innovate and integrate for our clients. The director considers this to be a unique proposition which sets the company apart from its competition.

Future developments

It is the intention of the director to continue to grow the current operations of the business by pursuing new customer relationships.

Approved by the Board on 3 October 2025 and signed on its behalf by:

G S B Nagaraj Director

Torry Harris Business Solutions (Europe) Ltd

Director's Report for the Year Ended 31 March 2025

The report and the financial statements for the year ended 31 March 2025.

Director of the company

The director who held office during the year was as follows:

G S B Nagaraj

Financial instruments

Objectives and policies

The company's principal financial instruments comprise of bank balances, trade creditors, trade debtors and group funding. The main purpose of these instruments is to raise funds and to finance the company's operations.

Price risk, credit risk, liquidity risk and cash flow risk

Due to the nature of the financial instruments used by the company, there is no exposure to price risk.

In respect of bank balances the liquidity risk is managed by maintaining a balance between funds held in different currencies.

Trade debtors are managed by policies concerning the credit offered to customers and regular monitoring of amounts outstanding.

Trade creditors and group funding liquidity risk is managed by ensuring that sufficient funds are available to meet amounts due.

Future Developments

The future developments of the business are included within the strategic report.

Disclosure of information to the auditors

The director has taken steps that ought to have taken as a director in order to make aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that of and of which the auditors are unaware.

Reappointment of auditors

The auditors Albert Goodman LLP are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Approved by the Board on 3 October 2025 and signed on its behalf by:

G S B Nagaraj Director

Torry Harris Business Solutions (Europe) Ltd

Statement of Director's Responsibilities

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

Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless 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 director is required to:

•	select suitable accounting policies and apply them consistently;

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

•	state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

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

The director is 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 to ensure that the financial statements comply with the Companies Act 2006. 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.

Torry Harris Business Solutions (Europe) Ltd

Independent Auditor's Report to the Members of Torry Harris Business Solutions (Europe) Ltd

Opinion

We have audited the financial statements of Torry Harris Business Solutions (Europe) Ltd (the 'company') for the year ended 31 March 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Statement of Cash Flows, 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 auditor 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 director's 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 original financial statements were 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.

Torry Harris Business Solutions (Europe) Ltd

Independent Auditor's Report to the Members of Torry Harris Business Solutions (Europe) Ltd

Other information

The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matter 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 Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•	the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.

Matters on which we are required to report by exception

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 director's remuneration specified by law are not made; or
•	we have not received all the information and explanations we require for our audit.

Responsibilities of the director

As explained more fully in the Statement of Director's Responsibilities set out on page 4, the director is 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 director determines is 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 director is 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 director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Torry Harris Business Solutions (Europe) Ltd

Independent Auditor's Report to the Members of Torry Harris Business Solutions (Europe) Ltd

Auditor 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 an auditor’s report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The extent to which the audit was considered capable of detecting irregularities including fraud

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

•	the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
•	we identified the laws and regulations applicable to the company through discussions with directors and other management;
•	we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and employment legislation;
•	we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and
•	identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

•	making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
•	considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

•	performed analytical procedures to identify any unusual or unexpected relationships;
•	tested journal entries to identify unusual transactions;
•	assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
•	investigated the rationale behind significant or unusual transactions.

Torry Harris Business Solutions (Europe) Ltd

Independent Auditor's Report to the Members of Torry Harris Business Solutions (Europe) Ltd

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

•	agreeing financial statement disclosures to underlying supporting documentation;
•	reading the minutes of meetings of those charged with governance;
•	enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 auditor's report.

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 an auditor’s report 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.

Neil Johnston BFP FCA (Senior Statutory Auditor)
For and on behalf of Albert Goodman LLP, Statutory Auditor

Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

3 October 2025

Torry Harris Business Solutions (Europe) Ltd

Profit and Loss Account
for the Year Ended 31 March 2025

	Note	2025  £	2024  £
Turnover	3	29,915,926	31,834,353
Cost of sales		(26,999,393)	(28,711,477)
Gross profit		2,916,533	3,122,876
Administrative expenses		(1,420,737)	(1,531,158)
Operating profit	4	1,495,796	1,591,718
Other interest receivable and similar income	5	74,538	33,886
Profit before tax		1,570,334	1,625,604
Taxation	9	(753,065)	(409,769)
Profit for the financial year		817,269	1,215,835

The above results were derived from continuing operations.

Torry Harris Business Solutions (Europe) Ltd

Statement of Comprehensive Income
for the Year Ended 31 March 2025

	2025 £	2024 £
Profit for the year	817,269	1,215,835
Total comprehensive income for the year	817,269	1,215,835

Torry Harris Business Solutions (Europe) Ltd

(Registration number: 04307378)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	10	7,948	21,480
Investment property	11	398,157	398,157
		406,105	419,637
Current assets
Debtors	12	9,896,655	9,725,759
Investments	13	600,000	-
Cash at bank and in hand		7,514,885	8,727,675
		18,011,540	18,453,434
Creditors: Amounts falling due within one year	15	(5,424,100)	(6,693,540)
Net current assets		12,587,440	11,759,894
Total assets less current liabilities		12,993,545	12,179,531
Provisions for liabilities	16	(11,957)	(15,212)
Net assets		12,981,588	12,164,319
Capital and reserves
Called up share capital		1	1
Retained earnings		12,981,587	12,164,318
Shareholders' funds		12,981,588	12,164,319

Approved and authorised by the director on 3 October 2025
 

G S B Nagaraj Director

Torry Harris Business Solutions (Europe) Ltd

Statement of Changes in Equity
for the Year Ended 31 March 2025

	Share capital £	Retained earnings £	Total £
At 1 April 2024	1	12,164,318	12,164,319
Profit for the year	-	817,269	817,269
At 31 March 2025	1	12,981,587	12,981,588