Cygnet Infotech Limited

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2—5

1. General Information

Cygnet Infotech Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11941443 . The registered office is C/O Sawhney Consulting, Harrow Business Centre, 429-433 Pinner Road, Harrow, HA1 4HN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The accounts are prepared on a going concern basis notwithstanding the fact that the company balance sheet has a negative equity. As at balance sheet date the company had net liablities of £196,671 which includes an intercompany balance of £459,192 due to its parent company,Cygnet Infotech Pvt limited. Subsequent to the balance sheet date, the director have considered liquid resources of the company. The parent company, Cygnet Infotech Pvt limited, has confirmed the provision of ongoing financial support to enable the company to continue to trade and meet its liability for a period of at leat 12 months from the approval of these financial statements. The parent company has also confrimed that it will not seek repayment of the intercompany balance until such time as the company is able to repay its without compromising its ability to continue to trade and to meet its liabilities as they fall due.On this basis, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

2.3. Turnover

Revenue from contracts for the provision of professional service is recognised by reference to the stage of completion when the stage of completion, cost incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing cost incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of expenses recognised that are recoverable.

2.4. Intangible Fixed Assets and Amortisation - Intellectual Property

Intangible assets acquired separately from a business are recongnised at cost and are subequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will fow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write of the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software 25% Straight line

2.5. Financial Instruments

The company only has fnancial instruments classifed as basic and measured at amortised cost. The company has no fnancial instruments that are classifed as 'other' or financial instruments measured at fair value.

2.6. Foreign Currencies

Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax

Deferred tax liabilities are generally recognised for all timing diferences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing diference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that afects neither the tax profit nor the accounting profit.

...CONTINUED

Page 2

Page 3

Cygnet Infotech Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation - continued

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that suficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are ofset when the company has a legally enforceable right to ofset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2.8. Foreign exchange

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

2.9. Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

2.10. Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.11. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Intangible Assets

	Software
	£
Cost
As at 1 April 2024	289,553

As at 31 March 2025	289,553

Amortisation
As at 1 April 2024	180,970
Provided during the period	72,388

As at 31 March 2025	253,358

Net Book Value
As at 31 March 2025	36,195

As at 1 April 2024	108,583

Page 3

Page 4

Cygnet Infotech Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Investments

	Subsidiaries
	£
Cost
As at 1 April 2024	8,369

As at 31 March 2025	8,369

Provision
As at 1 April 2024	-

As at 31 March 2025	-

Net Book Value
As at 31 March 2025	8,369

As at 1 April 2024	8,369

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	178,206	174,803
Other taxes and social security	71	-

	178,277	174,803

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	-	34,588
Amounts owed to participating interests	459,192	519,118
Other creditors	46,763	8,000
Taxation and social security	-	7,864

	505,955	569,570

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	335,000	335,000

9. Related Party Transactions

The company has taken exemption under FRS 102 section 33.1A - Related party transactions, not to disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.

10. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. Ultimate Parent Undertaking and Controlling Party

The company's ultimate parent is Cygnet Infotech Pvt. Limited . Cygnet Infotech Pvt. Limited was incorporated in India. The registered address of the ultimate parent is 16-Swastik Society, Sardar Patel Stadium Rd, nr. AMCO Bank, Swastik Society,Navrangpura, Ahmedabad, Gujarat 380 009 . Consolidated accounts for the group are publically available on vvww.mca.gov.in.

Page 4

Page 5

Cygnet Infotech Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Audit Information

The auditor's report on the accounts of Cygnet Infotech Limited for the year ended 31 March 2025 was unqualified.

The auditor's report was signed by Opinder Singh Sawhney (Senior Statutory Auditor) for and on behalf of Sawhney Consulting Limited , Statutory Auditor.

Page 5

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		36,195		108,583
Investments	5		8,369		8,369

			44,564		116,952
CURRENT ASSETS
Debtors	6	178,277		174,803
Cash at bank and in hand		131,007		115,434

		309,284		290,237
Creditors: Amounts Falling Due Within One Year	7	(505,955 )		(569,570 )

NET CURRENT ASSETS (LIABILITIES)			(196,671 )		(279,333 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(152,107 )		(162,381 )

NET LIABILITIES			(152,107 )		(162,381 )

CAPITAL AND RESERVES
Called up share capital	8		335,000		335,000
Income Statement			(487,107 )		(497,381 )

SHAREHOLDERS' FUNDS			(152,107)		(162,381)