Company registration number 06371954 (England and Wales)
BORN LONDON LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
BORN LONDON LIMITED
COMPANY INFORMATION
Director
S Waller
Company number
06371954
Registered office
Aldgate Tower
2 Leman Street
E1 8FA
Auditor
Gravita Audit II Limited
Aldgate Tower
2 Leman Street
London
United Kingdom
E1 8FA
Business address
90-92 Pentonville Road
London
N1 9HS
BORN LONDON LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3 - 4
Independent auditor's report
5 - 8
Statement of comprehensive income
9
Statement of financial position
10
Statement of changes in equity
11
Notes to the financial statements
12 - 26
BORN LONDON LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The director presents the strategic report and financial statements for the year ended 31 March 2024.

Fair review of the business

The revenue for 2023-​24 was £24.11 million. The revenue achievement in 2023-​24 can be attributed to the following factors: Continuing existing enterprise clients within eCommerce and creative/​UX deals such as Lindt and Stockmann. Major wins within integrated content division such as La Prairie and Ideal Response. Major wins in synergy with parent company such as Lindt & Sprüngli, Stockmann. Cross utilizing content & creative and commerce resources for various Integrated Content and eCommerce projects and vice versa, across the group thereby augmenting inter-​group revenues. Inorganic growth by way of business transfer of the We Make Websites Limited opening opportunities within the merged accounts such as IWG, Smith and Nephew, EY Talent pool and expertise in eCommerce, Creative and UX enabling the company to provide cutting edge solutions across all projects 2023-​24 The E-​commerce division continued to focus on making high margins on support and maintenance retainer contracts by offshoring work mainly to APAC locations. In addition in 202 4-​2 5 there were significant project wins in the luxury brand sector including MontBlanc, Richemont, Le Creuset and Lindt however revenues have decreased significantly from £14.9million in the previous year to £836k. The net trading loss this year was sheltered by the sheltered by the reversal of the earnout provision of £1,780,210. In addition to this, synergy deals such as Lindt, and Stockmann added significantly contributing to the revenues and margins. Content division witnessed steady volumes and while achieving growth in the integrated content division wherein Digital Marketing and Creative resources from the eCommerce division were cross utilized in collaboration with an integrated content team. Challenges in 2023-​24: Finding local talent quickly was a challenge in 2023-​24 owing to the accelerated business growth which was later met with the aid of building a UK based inhouse recruitment function and by utilizing nearshore and contracted talent. Swiftly adapting to new technologies in the ecommerce sector resulting in some margin wastage on projects was another challenge. As at the year end, the company had net assets of £2.47 M (202 3: £32 2 k). 2023/​2024 has been a challenging year with our projected turnover falling and our forecasts showing projected operating losses for the year. See note 1.3 for our consideration of the going concern position of the company. Future Developments E-​commerce – The acquisition by Tech Mahindra Limited has led to increased S&M investment in the ecommerce business to sustain this division’s growth trajectory in the EU region. Investment in 2023-​24 into more diverse technologies (Adobe AEM and Bloomreach) are expected to yield increased opportunities in 202 4-​2 5. The 2023-​24 company pipeline has several large pipeline opportunities in industries including Telecoms, Pharma, Luxury and Retail which have opened up as a result of introductions made by the Tech Mahindra Group. Content -​ The content division will focus on expanding services to the current client base in terms of expanding on volumes and exploring more in the hybrid Content and eCommerce opportunities.

BORN LONDON LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Principal risks and uncertainties

The global technology landscape which is in a constant state of flux has this year witnessed a significant shift driven by AI-​based tools and platforms. As a technology leader, we are constantly evolving through continuous tech adoption and upgrades. As a result of an economic slowdown occurring globally, the B2B space is witnessing a decrease in budgets and spending. It is compelling our clients to optimise their operations with respect to costs and the technologies they use.

We are monitoring a number of risks on a regular basis to protect our business from adverse impacts. We are conducting our business in a manner that is socially and environmentally responsible.

The company's principal financial instruments consist of bank balances, trade debtors, trade creditors and intercompany balances.

Inter-​company balances comprise of arm's length receipts and payments for services rendered to and from fellow subsidiaries, the immediate parent company and the intermediate parent company, and are paid as per the contractual terms agreed with the respective companies.

The debtors overdue is kept under 60 days on an average. The company has adequate credit control mechanism to continuously monitor provision of credit to new trading accounts and recoverability of existing trade debtors.

Trade creditor liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

Key performance indicators
2024
2023
£
£
Turnover
24,109,031
34,277,107
Gross profit margin
24.68%
27.31%
Profit/(Loss) before tax
346,184
(6,574,229)

Effective 1 August 2023, as part of a wider group reconstruction, the company (further to a third-​party valuation)deemed that consideration of £7.66 m was paid to acquire certain assets and liabilities of its subsidiary “We Make Websites Limited” (WMWL). An addiitional cash bank balance was also transfered for £1.4million which was not included in the initial valuation. As a result of this reconstruction there has been an impairment to the investment value of the company’s holding in WMWL as at the balance sheet date. An impairment charge of £56.7k (2023 : £8.4m) has been made.

Post balance sheet events - On the 1st January 2025, the director transferred the trading business, assets and liabilities to the ultimate parent company Tech Mahindra Limited. As a result the accounts are prepared on a basis other than going concern.

We Make Websites Limited, the company subsidiary was dissolved on 25th June 2024.

On behalf of the board

S Waller
Director
6 January 2026
BORN LONDON LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

The director presents his annual report and financial statements for the year ended 31 March 2024.

Principal activities

The company is engaged in providing marketing solutions and media production services across all channels from print to digital to video to photography.

Results and dividends

The results for the year are set out on page 9.

No dividends were paid or recommended for either financial period.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

S Waller
V Agarwal
(Resigned 9 May 2024)
V Narayanan
(Resigned 19 September 2024)
S R Karkera
(Appointed 9 May 2024 and resigned 18 March 2025)
Statement of director's responsibilities

The director is responsible 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 he is 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 then apply them consistently;

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

- state whether applicable UK 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 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 them to ensure that the financial statements comply with the Companies Act 2006. He is 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 of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Strategic Report

The company has, in accordance with Companies Act 2006 s. 414C(11), set out in the company's strategic report certain information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report.

BORN LONDON LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the medium-sized companies exemption.

On behalf of the board
S Waller
Director
6 January 2026
BORN LONDON LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BORN LONDON LIMITED
- 5 -

Qualified opinion

We have audited the financial statements of Born London Limited (the 'company') for the year ended 31 March 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including 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, except for the effects of the matter described in the Basis for Qualified Opinion paragraph, the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 March 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..

Basis for qualified opinion

We could not obtain sufficient evidence in relation to the completeness and cut off of turnover. We were unable to satisfy ourselves by alternative means concerning accrued and deferred income which are included in the balance sheet at 31st March 2024 for £787,430 and £1,122,961 respectively. Consequently we were unable to determine whether any adjustment to these amounts were necessary.

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's 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 qualified opinion.

Emphasis of matter

We draw attention to Note 1.3 to the financial statements which explains that on the 1st January 2025, the directors transferred the trading business, assets and liabilities to the ultimate parent company Tech Mahindra Limited and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements of the company. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 1.3. Our opinion is not modified in respect of this matte r.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. 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. 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 course of 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.

As described in the basis of the qualified opinion section we could not obtain sufficient evidence in relation to the completeness and cut off of turnover. We were unable to satisfy ourselves by alternative means concerning accrued and deferred income which are included in the balance sheet at 31st March 2024 for £787,430 and £1,122,961 respectively.

We have concluded that where the other information refers to turnover or related figures such as the result for the year, it maybe materially misstated for the same reason.

BORN LONDON LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BORN LONDON LIMITED (CONTINUED)
- 6 -

Opinions on other matters prescribed by the Companies Act 2006

Except for the possible effects of the matter described in the basis for qualified opinion section of our report in our opinion, based on the work undertaken in the course of our audit:

- the information given in the strategic report and the director's r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In respect solely of the limitation on our work relating to completeness and cut off of income, described above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

- we were unable to determine whether adequate accounting records had been maintained.

Except for the matter described in the basis for qualified opinion section of our report, In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the director's r eport.

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

- 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.

Responsibilities of director

As explained more fully in the director's r esponsibilities s tatement, 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 has no realistic alternative but to do so.

Auditor's 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. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

BORN LONDON LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BORN LONDON LIMITED (CONTINUED)
- 7 -

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, and from our commercial knowledge and experience of the marketing and media services industry;

- 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 transfer pricing;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; 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:

- understanding the business model as part of the control and business environment;

- 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.

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;

- enquiring of management as to actual and potential litigation and claims; and

- reviewing correspondence and enquiring with the company of actual and potential non-compliance with laws and regulations.

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 by for example forgery, or intentional misrepresentation or through collusion. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance or fraud and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

BORN LONDON LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF BORN LONDON LIMITED (CONTINUED)
- 8 -

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.

Ian Hughes ACA (Senior Statutory Auditor)
For and on behalf of Gravita Audit II Limited, Statutory Auditor
Chartered Accountants
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
6 January 2026
BORN LONDON LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024
- 9 -
2024
2023
Notes
£
£
Turnover
2
24,109,031
34,277,107
Cost of sales
(18,159,613)
(24,916,503)
Gross profit
5,949,418
9,360,604
Administrative expenses
(14,912,396)
(7,880,279)
Other operating income
763,031
412,580
Reversal of earnout provision
3
1,780,210
-
0
Operating (loss)/profit
4
(6,419,737)
1,892,905
Interest receivable and similar income
8
7,089,353
-
0
Interest payable and similar expenses
9
(266,743)
(42,198)
Amounts written off investments
(56,689)
(8,424,936)
Profit/(loss) before taxation
346,184
(6,574,229)
Tax on profit/(loss)
10
-
0
(302,471)
Profit/(loss) for the financial year
346,184
(6,876,700)

BORN LONDON LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 10 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
12
1,353,900
1,504,330
Tangible assets
13
129,456
196,986
Investments
14
-
0
1,972,000
1,483,356
3,673,316
Current assets
Debtors
15
8,817,005
11,939,316
Cash at bank and in hand
1,729,923
1,591,642
10,546,928
13,530,958
Creditors: amounts falling due within one year
16
(9,308,788)
(15,102,454)
Net current assets/(liabilities)
1,238,140
(1,571,496)
Total assets less current liabilities
2,721,496
2,101,820
Provisions for liabilities
Provisions
17
253,700
1,780,210
(253,700)
(1,780,210)
Net assets
2,467,796
321,610
Capital and reserves
Called up share capital
19
25,327
24,467
Share premium account
20
27,137,119
25,337,977
Profit and loss reserves
20
(24,694,650)
(25,040,834)
Total equity
2,467,796
321,610

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 6 January 2026 and are signed on its behalf by:
S Waller
Director
Company registration number 06371954 (England and Wales)
BORN LONDON LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2022
24,467
25,337,977
(18,164,134)
7,198,310
Year ended 31 March 2023:
Loss and total comprehensive income
-
-
(6,876,700)
(6,876,700)
Balance at 31 March 2023
24,467
25,337,977
(25,040,834)
321,610
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
346,184
346,184
Issue of share capital
19
860
1,799,142
-
1,800,002
Balance at 31 March 2024
25,327
27,137,119
(24,694,650)
2,467,796
BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
1
Accounting policies
Company information

Born London Limited is a private company limited by shares incorporated in England and Wales. The place of business is 90-92 Pentonville Road, London, N1 9HS. The registered office is 2 Leman Street, London, E1W 9US.

1.1
Accounting convention

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

The company has taken advantage of the exemption under section 401 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Born London Limited is a wholly owned subsidiary of Tech Mahindra Ltd, a company registered and domiciled in India and the results of Born London Limited are included in the consolidated financial statements of Tech Mahindra Ltd which are available at https://www.techmahindra.com/en-in/investors/.

1.2
Business combinations

The cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill.

1.3
Going concern

On the 1st January 2025, the director transferred the trading business, assets and liabilities to the ultimate parent company Tech Mahindra Limited. As a result the accounts are prepared on a basis other than going concern.true

1.4
Turnover

Turnover comprises revenue recognised by the company in respect of marketing solutions and media production supplied during the financial year, exclusive of value added tax and trade discounts.

BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 13 -

Revenue from contracts for the provision of 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 calculated by comparing costs 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 the expenses recognised that it is probable will be recover ed.

Revenue from Intercompany Service Agreements is recognised on a cost plus basis. R evenue is recognised only to the extent of the expenses recognised and a mark up applied.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired.

Goodwill is recognised over the periods expected to be benefited. This is estimated to be in line with the non-monetary assets acquired. The amortisation of negative goodwill is recognised in the income statement over the period in which the related non-monetary assets are recovered.

1.6
Intangible fixed assets other than goodwill

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

Amortisation 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:

Software
33% straight line basis
Customer Relationships
Straight line over 10 & 5 years
1.7
Tangible fixed assets

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

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

Land and buildings leasehold
20% straight line basis
Plant and machinery
33% straight line basis
Fixtures, fittings & equipment
20 - 25% straight line basis

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 recognised in the income statement.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

1.8
Fixed asset investments

Interests in subsidiaries 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.

BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 14 -

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.

Other investments are initially measured at transaction price excluding transaction costs and are subsequently recognised at fair value as at reporting date.

1.9
Impairment of fixed assets

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 is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss.

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 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 in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

1.10
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and other short-term liquid investments with original maturities of three months or less.

1.11
Financial instruments

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

Financial instruments are recognised in the company's statement of financial position 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

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.

BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 15 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Loans and other receivables

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

Basic financial liabilities, including creditors and loans from fellow group companies, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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.

BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 16 -
Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

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.

1.13
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the accounting period. Taxable profit differs from net profit as reported in the income statement 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

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 income statement, 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.

1.14
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

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.

BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 17 -
1.16
Retirement 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 income 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 lease asset are consumed.

1.17
Foreign exchange

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.

1.18

Research and development expenditure

Expenditure on research and development is written off to the profit and loss account in the year in which it is incurred.

2
Turnover and other revenue

An analysis of the company's turnover is as follows:

2024
2023
£
£
Turnover analysed by class of business
Content
6,238,672
8,009,162
E-Commerce
836,317
14,881,037
Intercompany service agreement
17,034,042
11,386,908
24,109,031
34,277,107
2024
2023
£
£
Turnover analysed by geographical market
UK
5,849,578
11,828,279
Rest of Europe
5,593,529
11,805,641
Rest of the World
12,665,924
10,643,187
24,109,031
34,277,107
2024
2023
£
£
Other revenue
Dividends received
7,089,353
-
Rent receivable
21,343
250,260
BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
3
Exceptional item
2024
2023
£
£
Exceptional item
1,780,210
-

On 26 October 2021, the company acquired the share capital of We Make Websites Limited in which consideration included a 3 year Earnout Provision.

The target for Year 3 was not met and as a result the provision has been reversed.

4
Operating (loss)/profit
2024
2023
Operating (loss)/profit for the year is stated after charging:
£
£
Exchange losses
827,369
114,166
Depreciation of owned tangible fixed assets
121,694
122,406
Amortisation of intangible assets
150,430
180,516
Impairment of intangible assets
7,089,353
-
0
Operating lease charges
318,108
533,139
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
63,580
78,100
6
Employees

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

2024
2023
Number
Number
Administration
13
9
Production
116
108
Sales
15
8
Total
144
125
BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
6
Employees
(Continued)
- 19 -

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
10,352,742
10,950,623
Social security costs
1,147,889
1,263,139
Pension costs
284,305
256,414
11,784,936
12,470,176
7
Director's remuneration
2024
2023
£
£
Remuneration for qualifying services
126,199
123,807
Company pension contributions to defined contribution schemes
3,893
3,810
130,092
127,617

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2023 - 1).

No directors in the year were paid in excess of £200,000.

8
Interest receivable and similar income
2024
2023
£
£
Income from fixed asset investments
Income from shares in group undertakings
7,089,353
-
0
9
Interest payable and similar expenses
2024
2023
£
£
Other interest
266,743
42,198
10
Taxation
2024
2023
£
£
Deferred tax
Origination and reversal of timing differences
-
0
302,471
BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10
Taxation
(Continued)
- 20 -

The actual charge for the year can be reconciled to the expected charge/(credit) for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit/(loss) before taxation
346,184
(6,574,229)
Expected tax charge/(credit) based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
86,546
(1,249,104)
Tax effect of expenses that are not deductible in determining taxable profit
(46,868)
11,289
Tax effect of utilisation of tax losses not previously recognised
-
0
(398,190)
Unutilised tax losses carried forward
907,809
-
0
Permanent capital allowances in excess of depreciation
50,479
34,147
Depreciation on assets not qualifying for tax allowances
-
0
280
Other permanent differences
-
0
1,003
Dividend income
(1,346,977)
-
0
Increase in deferred tax asset
-
0
302,471
Impairment of Fixed Asset Investment
349,011
1,600,575
Taxation charge for the year
-
302,471
11
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2024
2023
Notes
£
£
In respect of:
Goodwill
12
7,089,353
-
0
Fixed asset investments
56,689
8,424,936
Recognised in:
Administrative expenses
7,089,353
-
Amounts written off investments
56,689
8,424,936
BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
12
Intangible fixed assets
Goodwill
Software
Customer Relationships
Total
£
£
£
£
Cost
At 1 April 2023
-
0
50,001
1,805,191
1,855,192
Additions
7,089,353
-
0
-
0
7,089,353
At 31 March 2024
7,089,353
50,001
1,805,191
8,944,545
Amortisation and impairment
At 1 April 2023
-
0
50,000
300,862
350,862
Amortisation charged for the year
-
0
-
0
150,430
150,430
Impairment losses
7,089,353
-
0
-
0
7,089,353
At 31 March 2024
7,089,353
50,000
451,292
7,590,645
Carrying amount
At 31 March 2024
-
0
1
1,353,899
1,353,900
At 31 March 2023
-
0
1
1,504,329
1,504,330
13
Tangible fixed assets
Land and buildings leasehold
Plant and machinery
Fixtures, fittings & equipment
Total
£
£
£
£
Cost
At 1 April 2023
208,702
597,987
23,976
830,665
Additions
2,213
12,888
1,000
16,101
Business combinations
-
0
36,964
1,099
38,063
At 31 March 2024
210,915
647,839
26,075
884,829
Depreciation and impairment
At 1 April 2023
158,100
453,573
22,006
633,679
Depreciation charged in the year
12,549
108,119
1,026
121,694
At 31 March 2024
170,649
561,692
23,032
755,373
Carrying amount
At 31 March 2024
40,266
86,147
3,043
129,456
At 31 March 2023
50,602
144,414
1,970
196,986
BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 22 -
14
Fixed asset investments
2024
2023
£
£
Investments in subsidiaries
-
0
1,972,000

As detailed in Note.21 the investment has been reclassified to the assets and liabilities transferred to the company from the subsidiary.

Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023
1,972,000
Reclassification
(1,972,000)
At 31 March 2024
-
Carrying amount
At 31 March 2024
-
At 31 March 2023
1,972,000
15
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,284,326
4,981,973
Amounts owed by group undertakings
4,357,178
4,284,810
Other debtors
152,267
153,120
Prepayments and accrued income
1,023,234
2,519,413
8,817,005
11,939,316

16
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
102,757
490,629
Amounts owed to group undertakings
5,214,283
8,705,840
Taxation and social security
530,932
314,064
Other creditors
59,042
1,780,188
Accruals and deferred income
3,401,774
3,811,733
9,308,788
15,102,454
BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
16
Creditors: amounts falling due within one year
(Continued)
- 23 -

Included within amounts owed to group undertakings is 1 loan totaling £1.35m (2023: 3 loans totalling £2.8m) which include interest calculated at SOFR plus one hundred basis points. The loan is repayable in April 2024.

17
Provisions for liabilities
2024
2023
£
£
Earnout consideration
-
1,780,210
Dilapidations
253,700
-
253,700
1,780,210
Movements on provisions:
Earnout consideration
Dilapidations
Total
£
£
£
At 1 April 2023
1,780,210
-
1,780,210
Additional provisions in the year
-
253,700
253,700
Reversal of provision
(1,780,210)
-
(1,780,210)
At 31 March 2024
-
253,700
253,700
18
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
284,305
256,414

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The year end liability amounted to £107,689 (2023: £28,364).

19
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
2,532,700
2,446,700
25,327
24,467

On 29th February 2024, 86,042 shares where issued at £20.9 2 per share. Each ordinary share is £0.01 at par therefore each each share was issued at a £20.9 1 premium.

There is a single class of Ordinary shares. There are no restrictions of the distribution of dividends and repayment of capital.

BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 24 -
20
Reserves
Share premium account

Share premium account includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from the share premium.

Profit and loss reserves

Profit and loss reserves represents accumulated comprehensive income for the period and prior periods.

BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 25 -
21
Acquisition

On 1 August 2023 We Make Websites Limited transfered its, business, assets and liabilities to the company as part of a wider group reconstruction. The effect of this was to reclassify the cost of investment in We Make Websites Limited to the assets and liabilities so transferred.

The goodwill arising is eliminated by the dividend in specie.

We Make Websites Limited was dissolved on 25th June 2024.

Fair Value
£
Property, plant and equipment
38,325
Trade and other receivables
680,668
Cash and cash equivalents
1,406,355
Trade and other payables
(153,348)
Total identifiable net assets
1,972,000
Goodwill
7,089,353
Total consideration
9,061,353
Satisfied by:
£
Cash
1,406,355
Net assets
565,645
Dividend in specie
7,089,353
9,061,353
22
Operating lease commitments
Lessee

During the year the expense recognised in the accounts in relation to Rent amounts to £318,108 (2023: £533,139).

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

2024
2023
£
£
Within one year
424,090
367,545
Between two and five years
1,059,644
1,286,910
1,483,734
1,654,455
BORN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 26 -
23
Financial Commitments

The company has committed to paying employees £346,371 ( 2023 : £443,879) in relation to a long term cash incentive plan. An amount of £81,499 (2023 : £97,508) will be payable within 1 year.

24
Events after the reporting date

On the 1st January 2025, the director transferred the trading business, assets and liabilities to the ultimate parent company Tech Mahindra Limited. As a result the accounts are prepared on a basis other than going concern.

We Make Websites Limited, the company subsidiary was dissolved on 25th June 2024.

25
Related party transactions

The company has taken advantage of the exemptions from disclosure available to subsidiary undertakings under section 33 of FRS 102 in connection with intra-group transactions.

26
Ultimate controlling party

The immediate parent undertaking is Born Group Pte Ltd.

Tech Mahindra Limited, a company registered and domiciled in India, is the ultimate parent undertaking of a group of which the company is a member and which prepares consolidated accounts. The accounts are available at https://www.techmahindra.com/en-in/investors/.

2024-03-31 2023-04-01 false false false CCH Software CCH Accounts Production 2025.300 S Waller V Agarwal V Narayanan S R Karkera 06371954 2023-04-01 2024-03-31 06371954 bus:Director1 2023-04-01 2024-03-31 06371954 bus:Director2 2023-04-01 2024-03-31 06371954 bus:Director3 2023-04-01 2024-03-31 06371954 bus:Director4 2023-04-01 2024-03-31 06371954 2022-04-01 2023-03-31 06371954 2024-03-31 06371954 1 2023-04-01 2024-03-31 06371954 1 2022-04-01 2023-03-31 06371954 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 06371954 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 06371954 core:OtherResidualIntangibleAssets 2024-03-31 06371954 core:OtherResidualIntangibleAssets 2023-03-31 06371954 core:Goodwill 2024-03-31 06371954 core:ComputerSoftware 2024-03-31 06371954 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-03-31 06371954 core:Goodwill 2023-03-31 06371954 core:ComputerSoftware 2023-03-31 06371954 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 06371954 2023-03-31 06371954 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06371954 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06371954 core:CurrentFinancialInstruments 2024-03-31 06371954 core:CurrentFinancialInstruments 2023-03-31 06371954 2023-03-31 06371954 core:ShareCapital 2024-03-31 06371954 core:ShareCapital 2023-03-31 06371954 core:SharePremium 2024-03-31 06371954 core:SharePremium 2023-03-31 06371954 core:RetainedEarningsAccumulatedLosses 2024-03-31 06371954 core:RetainedEarningsAccumulatedLosses 2023-03-31 06371954 core:ShareCapital 2022-03-31 06371954 core:SharePremium 2022-03-31 06371954 core:RetainedEarningsAccumulatedLosses 2022-03-31 06371954 core:ShareCapitalOrdinaryShareClass1 2024-03-31 06371954 core:ShareCapitalOrdinaryShareClass1 2023-03-31 06371954 core:ShareCapital 2023-04-01 2024-03-31 06371954 core:SharePremium 2023-04-01 2024-03-31 06371954 core:Goodwill 2023-04-01 2024-03-31 06371954 core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 06371954 core:ComputerSoftware 2023-04-01 2024-03-31 06371954 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 06371954 core:LandBuildings core:LongLeaseholdAssets 2023-04-01 2024-03-31 06371954 core:PlantMachinery 2023-04-01 2024-03-31 06371954 core:FurnitureFittings 2023-04-01 2024-03-31 06371954 core:Goodwill 2022-04-01 2023-03-31 06371954 core:UKTax 2023-04-01 2024-03-31 06371954 core:UKTax 2022-04-01 2023-03-31 06371954 2 2023-04-01 2024-03-31 06371954 2 2022-04-01 2023-03-31 06371954 3 2023-04-01 2024-03-31 06371954 3 2022-04-01 2023-03-31 06371954 4 2023-04-01 2024-03-31 06371954 4 2022-04-01 2023-03-31 06371954 core:Goodwill 2023-03-31 06371954 core:ComputerSoftware 2023-03-31 06371954 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-31 06371954 core:Goodwill core:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 06371954 core:ComputerSoftware core:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 06371954 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 06371954 core:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 06371954 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-03-31 06371954 core:PlantMachinery 2023-03-31 06371954 core:FurnitureFittings 2023-03-31 06371954 core:LandBuildings core:LeasedAssetsHeldAsLessee 2024-03-31 06371954 core:PlantMachinery 2024-03-31 06371954 core:FurnitureFittings 2024-03-31 06371954 core:LandBuildings core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 06371954 core:LandBuildings 2023-03-31 06371954 core:PlantMachinery 2023-03-31 06371954 core:FurnitureFittings 2023-03-31 06371954 core:Non-currentFinancialInstruments 2024-03-31 06371954 core:Non-currentFinancialInstruments 2023-03-31 06371954 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 06371954 bus:OrdinaryShareClass1 2024-03-31 06371954 bus:OrdinaryShareClass1 2023-03-31 06371954 core:WithinOneYear 2024-03-31 06371954 core:WithinOneYear 2023-03-31 06371954 core:BetweenTwoFiveYears 2024-03-31 06371954 core:BetweenTwoFiveYears 2023-03-31 06371954 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06371954 bus:FRS102 2023-04-01 2024-03-31 06371954 bus:Audited 2023-04-01 2024-03-31 06371954 bus:FullAccounts 2023-04-01 2024-03-31 xbrli:pure xbrli:shares iso4217:GBP