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REGISTERED NUMBER: 07902631 (England and Wales)

Conversant Networks Limited

Unaudited Financial Statements for the Year Ended 31 December 2024

Conversant Networks Limited (Registered number: 07902631)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Statement of Financial Position | 2 |

Notes to the Financial Statements | 4 |

Conversant Networks Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTOR: | Adam Bower

| REGISTERED OFFICE: | c/o HSA & Co

| Lewis House, Great Chesterford Court

| Great Chesterford

| SAFFRON WALDEN

| Essex

| CB10 1PF

| REGISTERED NUMBER: | 07902631 (England and Wales)

Conversant Networks Limited (Registered number: 07902631)

Statement of Financial Position

31 December 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 5 | 199 |  | 391 |  |

CURRENT ASSETS

Debtors | 6 | 328 |  | 337 |  |

Cash at bank | 65,277 |  | 15,058 |  |

65,605 |  | 15,395 |  |

CREDITORS

Amounts falling due within one year | 7 | 2,149,675 |  | 1,812,166 |  |

NET CURRENT LIABILITIES | (2,084,070 | ) | (1,796,771 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | (2,083,871 | ) | (1,796,380 | ) |

CREDITORS

Amounts falling due after more than one year | 8 | 3,541 |  | 14,334 |  |

NET LIABILITIES | (2,087,412 | ) | (1,810,714 | ) |

CAPITAL AND RESERVES

Called up share capital | 100 |  | 100 |  |

Retained earnings | (2,087,512 | ) | (1,810,814 | ) |

SHAREHOLDERS' FUNDS | (2,087,412 | ) | (1,810,714 | ) |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Conversant Networks Limited (Registered number: 07902631)

Statement of Financial Position - continued

31 December 2024

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2026 and were signed by:

Adam Bower - Director

Conversant Networks Limited (Registered number: 07902631)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Conversant Networks 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | STATEMENT OF COMPLIANCE

| 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.

3. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

| The financial statements have been prepared under the historical cost convention.

| Turnover

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

| Turnover from the provision of information technology services is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover from provision of IT services is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The turnover is recognised as the services are provided.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

| Plant and machinery etc | - | 33% on cost

| Financial instruments

| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Conversant Networks Limited (Registered number: 07902631)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

3. | ACCOUNTING POLICIES - continued

| Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

| The financial statements are presented in Great Britain Pound (GBP), which is also the functional currency of the Company. A currency other than the functional currency is a foreign currency. Foreign currency transactions are translated into GBP, using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the reporting date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the re-measurement of monetary items at year-end exchange rates are recognized in profit or loss. Non-monetary items measured at historical cost are translated using the exchange rates at the date of the transaction.

| Operating leases: the company as lessee

| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

| Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

| Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

| 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.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 2 (2023 - 2 ) .

Conversant Networks Limited (Registered number: 07902631)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

5. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

| etc

£ |

| COST

| At 1 January 2024

| and 31 December 2024 | 583 |  |

| DEPRECIATION

| At 1 January 2024 | 192 |  |

| Charge for year | 192 |  |

| At 31 December 2024 | 384 |  |

| NET BOOK VALUE

| At 31 December 2024 | 199 |  |

| At 31 December 2023 | 391 |  |

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Other debtors | 328 |  | 337 |  |

| Included within other debtors disclosed above is a balance of £328 (2023 - £337) in relation to VAT.

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 10,536 |  | 10,149 |  |

| Trade creditors | 637 |  | 845 |  |

| Amounts owed to group undertakings | 2,117,522 |  | 1,773,006 |  |

| Taxation and social security | 7,784 |  | 7,970 |  |

| Other creditors | 13,196 |  | 20,196 |  |

2,149,675 |  | 1,812,166 |  |

| Other creditors includes accruals of £11,369 (2023 - £18,369) and other creditors of £1,827 (2023 - £3,282).

8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

2024 | 2023 |

£ | £ |

| Bank loans | 3,541 |  | 14,334 |  |

9. | RELATED PARTY DISCLOSURES

| During the year, the company made sales of £3,353,372 (2023 - £2,715) and to fellow group undertakings. The consideration for these transactions were settled against the outstanding loan balances payable to this entity.

| At the year end, £2,117,522 (2023 - £1,773,006) was payable to fellow group undertakings. This balance is interest-free and repayable on demand.

Conversant Networks Limited (Registered number: 07902631)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

10. | ULTIMATE CONTROLLING PARTY

| The controlling party is SwiftServe Pte Ltd.

| The ultimate controlling party is Conversant Pte Ltd.

| Copies of the consolidated accounts can be obtained from:

| Conversant Pte Ltd

| 250 North Bridge Road

| #17-01 Raffles City Tower

| Singapore 179101

11. | GOING CONCERN

| In determining the appropriate basis of preparation of the financial statements, the directors are required to consider whether the Company can continue in operational existence for at least the next 12 months.

| During the period the company made a net loss before exceptional items of £276,698 and at the balance sheet date, the company's total liabilities exceeded its total assets by £2,087,412.

| Having made requisite enquires, the directors are confident that the company has adequate resources to continue their operations for the foreseeable future. This is due to continuing financial support from the primary shareholder Swiftserve PTE Limited.

| Following a detailed and comprehensive review of the business, the Directors have no reason or intention to liquidate the company or cease its trading activities over the foreseeable future.

| In conclusion, and considering the areas described above, the Directors are confident that the Company has adequate resources to continue in operational existence for the foreseeable future. For these reasons, the Directors consider it appropriate they continue to prepare the financial statements on a going concern basis. These financial statements do not include any adjustments that would result from the going concern basis of preparation being inappropriate.

12. | FINANCIAL INSTRUMENTS

| The carrying amount for each category of financial instrument within the company as at the Balance Sheet dates is as follows:

|  | 2024 |  | 2023 |  |

| £ |  | £ |  |

| Financial assets that are debt instruments measured at amortised cost |  | 65,277 |  | 15,058 |  |

|  | 2024 |  | 2023 |  |

|  | £ |  | £ |  |

| Financial liabilities measured at amortised cost |  | 2,118,159 |  | 1,773,850 |  |

| Financial assets measured at amortised cost comprise cash at bank and in hand, trade debtors, amounts owed by related parties, and other loans.

| Financial liabilities measured at amortised costs comprise trade creditors and amounts owed to related parties.