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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

Koenig Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kalamu House, 11 Coldbath Square, London, EC1R 5HL.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a going concern basis. The directors have assessed the Company’s financial position, current performance, and forecasts for the foreseeable future, including consideration of cash flows and existing truetraining contracts.

Based on this assessment, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next 12 months and beyond. Accordingly, the financial statements have been prepared on a going concern basis.

Turnover is measured at the fair value of consideration received or receivable for services provided in the ordinary course of business, excluding value added tax (VAT) and trade discounts. The company generates revenue from the provision of professional training services.

Revenue is recognised when it is probable that economic benefits will flow to the company, the amount of revenue can be measured reliably, and when the significant risks and rewards of the service have been transferred to the customer.

Revenue is recognised as follows:

At a point in time – Where a training session is delivered in full on a specific date, revenue is recognised upon completion of delivery.

Over time – For training delivered over a period (e.g. multi-day or multi-week courses), revenue is recognised on a straight-line basis over the service period, unless another method more accurately reflects the stage of completion.

Deferred income – Amounts invoiced or received in advance of delivery are recognised as deferred income within creditors and released to revenue over the service period.

Accrued income – Where services have been delivered but not yet invoiced at the reporting date, the associated revenue is recognised as accrued income within debtors.

Revenue is not recognised where significant uncertainty exists regarding the outcome of the service or collectability of the consideration.

For certain contracts involving customised or long-duration training services, revenue is recognised by reference to the stage of completion when outcomes can be measured reliably. The stage of completion is determined by comparing incurred costs to total estimated contract costs. Revenue is recognised only to the extent that costs incurred are probable of being recovered.

Revenue from contracts for the provision of professional training services is recognised by reference to the stage of completion when the stage of completion, costs incurred, and costs to complete can be estimated reliably. The stage of completion is determined by comparing costs incurred, primarily related to contractual staff hourly rates and materials, as a proportion of the total expected costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are probable of being recovered.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax liabilities are generally recognised for all timing differences 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 difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

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 sufficient 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 offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the Company’s accounting policies, the directors are required to make judgements, estimates, and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. These estimates and associated assumptions are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of revision if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, include:

The recognition of revenue from training services delivered over time;

The assessment of deferred income relating to undelivered training sessions at the year-end;

The estimated useful lives and residual values of property, plant and equipment;

Provisions for refunds or cancellations, where applicable.

Management believes that the estimates used in the preparation of the financial statements are reasonable and appropriate.

The average monthly number of persons (including directors) employed by the company during the year was:

Trade debtors are classified as basic financial instruments and are initially recognised at the transaction price. The company has elected not to apply the effective interest method. Subsequently, trade debtors are measured at the amount expected to be received, net of any provision for impairment.

A provision for impairment is recognised when there is objective evidence that the company will be unable to collect all amounts due according to the original contractual terms. Impairment losses are recognised in the profit and loss account

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 30 September 2024 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.

Other matter - Comparative Figures

We draw attention to Note 10 to the financial statements, which explains that the comparative figures for the year ended 30 September 2023 were audited by a different audit firm, which issued a Disclaimer of Opinion on those financial statements.

Our audit opinion relates solely to the financial statements for the year ended 30 September 2024, which have been audited by us.

Our opinion is not modified in respect of this matter.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

The comparative information in these financial statements for the previous year was not audited by us. Instead, it was audited by a different audit firm, which issued a disclaimer of opinion on those financial statements.

No remuneration was paid to the directors or other key management personnel during the year or the preceding year.

During the year the company entered into the following transactions with related parties:

The company entered into transactions with related parties during the year amounting to £218,318 (2023: £280,140). These transactions related to various training services provided to related parties, as well as training conducted on behalf of related parties.

An amount of £33,244 (2023: £Nil) is owed to a related party. This balance is included within other creditors; refer to Note 6

While management considers these transactions to have been made in the ordinary course of business, the company has not assessed whether the terms were at arm’s length.

The ultimate parent undertaking is Koenig Solutions PVT Ltd. The financial statements of Koenig Solutions PVT Ltd can be obtained from Koenig Campus DSM-640-641, 6th Floor, DLF Tower, Shivaji Marg, Moti Nagar, New Delhi-110015.