REGISTERED NUMBER: 11865020 (England and Wales)

MARKETSANDMARKETS LIMITED

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Aman N Gupta

Sandeep S Sugla

REGISTERED OFFICE:

2 Churchill Court

58 Station Road

North Harrow

Middlesex

HA2 7SA

REGISTERED NUMBER:

11865020 (England and Wales)

AUDITORS:

Smartax Limited

Chartered Certified Accountants and

Statutory Auditors

38 Station Road

Harrow

Middlesex

HA2 7SE

ACCOUNTANTS:

Auctus Accountants Ltd

Chartered Certified Accountants

2 Churchill Court

58, Station Road

North Harrow

HA2 7SA

FIXED ASSETS

Tangible Fixed Asset

4

6,192

8,317

CURRENT ASSETS

Debtors

5

459,420

184,625

Cash at bank

115,871

170,520

575,291

355,145

CREDITORS

Amounts falling due within one year

6

283,716

202,269

NET CURRENT ASSETS

291,575

152,876

TOTAL ASSETS LESS CURRENT LIABILITIES

297,767

161,193

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

297,667

161,093

SHAREHOLDERS' FUNDS

297,767

161,193

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

Aman N Gupta - Director

1.	STATUTORY INFORMATION

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

The accounts are prepared in sterling, which is the functional currency of the entity.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover includes revenue earned from the rendering of services.

Turnover is generated from recharges to the parent company with an applied profit markup.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 3 years straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

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.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognized at transaction price including any transaction costs and subsequently measured at amortized cost determined using the effective interest method, less any impairment losses for bad and doubtful debts

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognized at transaction price net of any transaction costs and subsequently measured at amortized cost determined using the effective interest method.

Share based payments

The company is part of a Group equity-settled share incentive scheme.The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model.

That cost is recognised, together with a corresponding increase in Employee Stock Option Plan (ESOP) reserves in equity, over the period in which the performance and/or service conditions are fulfilled in employee benefits expense. The cumulative expense recognised for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Company's best estimate of the number of equity instruments that will ultimately vest. The statement of profit and loss expense or credit for a period represents the movement in cumulative expense recognised as at the beginning and end of that period and is recognised in employee benefits expense.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 12 ) .

4.	TANGIBLE FIXED ASSET

Computer

equipment

£

COST

At 1 April 2024

10,938

Additions

2,380

Disposals

(248

)

At 31 March 2025

13,070

DEPRECIATION

At 1 April 2024

2,621

Charge for year

4,257

At 31 March 2025

6,878

NET BOOK VALUE

At 31 March 2025

6,192

At 31 March 2024

8,317

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Amounts owed by group undertakings

447,801

175,794

Other debtors

11,619

8,831

459,420

184,625

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

19,057

-

Tax

46,150

33,878

Social security and other taxes

54,992

56,161

Pension payable

4,880

2,311

VAT

7,202

-

Other creditors

-

3,523

Accrued expenses

151,435

106,396

283,716

202,269

7.

RESERVES

Retained

earnings

£

At 1 April 2024

161,093

Profit for the year

136,574

At 31 March 2025

297,667

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S Rajan CTA FCCA ACA (Senior Statutory Auditor)

for and on behalf of Smartax Limited

Material Uncertainty Related to Going Concern

We draw attention to note 10 in the financial statements, which indicates that the company is reliant on the financial support from its parent company being the company's sole customer. As stated in note 10, these conditions, along with the other matters as set forth in note 10, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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.

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

9.	RELATED PARTY DISCLOSURES

In accordance with FRS 102 paragraph 1AC.35, the company has taken advantage of the exemption from disclosing transactions with wholly owned group undertakings.

10.	GOING CONCERN

The company derives its revenue from its parent undertaking, MarketandMarkets Research Private Limited, under a cost-plus arrangement and is therefore entirely dependent on the parent for its commercial activities and financial support. These conditions indicate the existence of a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern.

In assessing going concern, the directors have reviewed the financial position and performance of both the company and its parent and, after making the necessary enquiries, have received confirmation that the parent intends to provide the necessary financial support for the foreseeable future and at least for twelve months from the date of approval of these financial statements. However, the directors recognise that this support cannot be binding.

On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include adjustments that would be required if the company were unable to continue as a going concern.

11.	POST BALANCE SHEET EVENTS

No matters or circumstances have arisen since the year-end date that significantly affect, or are likely to affect the operations, results or state of affairs of the Company for the foreseeable future.

12.	ULTIMATE CONTROLLING PARTY

The immediate and ultimate holding company is MarketsandMarkets Research Private Limited (Registered in India at the address below) from whom 100 shares of GBP 1 each are called up as share capital.

In the opinion of the directors,there is no ultimate controlling party for the company.

Magarpatta Cybercity

Tower B5, Office 101

Magarpatta SE2

Hadapsar

Pune,India

411013