IRIS Accounts Production v25.4.12.37 03904167 director 1.4.24 31.3.25 31.3.25 Medium entities providing services to the information technology industry true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 03904167 2024-03-31 03904167 2025-03-31 03904167 2024-04-01 2025-03-31 03904167 2023-03-31 03904167 2023-04-01 2024-03-31 03904167 2024-03-31 03904167 ns15:EnglandWales 2024-04-01 2025-03-31 03904167 ns14:PoundSterling 2024-04-01 2025-03-31 03904167 ns10:Director1 2024-04-01 2025-03-31 03904167 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03904167 ns10:MediumEntities 2024-04-01 2025-03-31 03904167 ns10:Audited 2024-04-01 2025-03-31 03904167 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 03904167 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-04-01 2025-03-31 03904167 ns10:FullAccounts 2024-04-01 2025-03-31 03904167 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 03904167 ns10:Director2 2024-04-01 2025-03-31 03904167 ns5:CurrentFinancialInstruments 2025-03-31 03904167 ns5:CurrentFinancialInstruments 2024-03-31 03904167 ns5:ShareCapital 2025-03-31 03904167 ns5:ShareCapital 2024-03-31 03904167 ns5:FurtherSpecificReserve1ComponentTotalEquity 2025-03-31 03904167 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31 03904167 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 03904167 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 03904167 ns5:ShareCapital 2023-03-31 03904167 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 03904167 ns5:FurtherSpecificReserve1ComponentTotalEquity 2023-03-31 03904167 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 03904167 ns5:FurtherSpecificReserve1ComponentTotalEquity 2023-04-01 2024-03-31 03904167 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 03904167 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-04-01 2025-03-31 03904167 ns10:RegisteredOffice 2024-04-01 2025-03-31 03904167 ns5:OwnedAssets 2024-04-01 2025-03-31 03904167 ns5:OwnedAssets 2023-04-01 2024-03-31 03904167 ns5:LandBuildings ns5:ShortLeaseholdAssets 2024-03-31 03904167 ns5:FurnitureFittings 2024-03-31 03904167 ns5:MotorVehicles 2024-03-31 03904167 ns5:ComputerEquipment 2024-03-31 03904167 ns5:LandBuildings ns5:ShortLeaseholdAssets 2024-04-01 2025-03-31 03904167 ns5:FurnitureFittings 2024-04-01 2025-03-31 03904167 ns5:MotorVehicles 2024-04-01 2025-03-31 03904167 ns5:ComputerEquipment 2024-04-01 2025-03-31 03904167 ns5:LandBuildings ns5:ShortLeaseholdAssets 2025-03-31 03904167 ns5:FurnitureFittings 2025-03-31 03904167 ns5:MotorVehicles 2025-03-31 03904167 ns5:ComputerEquipment 2025-03-31 03904167 ns5:LandBuildings ns5:ShortLeaseholdAssets 2024-03-31 03904167 ns5:FurnitureFittings 2024-03-31 03904167 ns5:MotorVehicles 2024-03-31 03904167 ns5:ComputerEquipment 2024-03-31 03904167 ns5:AdditionsToInvestments 2025-03-31 03904167 ns5:CostValuation 2025-03-31 03904167 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 03904167 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 03904167 ns5:DeferredTaxation 2024-03-31 03904167 ns5:DeferredTaxation 2024-04-01 2025-03-31 03904167 ns5:DeferredTaxation 2025-03-31 03904167 ns10:OrdinaryShareClass1 2025-03-31 03904167 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 03904167 ns5:FurtherSpecificReserve1ComponentTotalEquity 2024-03-31

REGISTERED NUMBER: 03904167 (England and Wales)

STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

ECLERX LIMITED

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

CONTENTS OF THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

Page |

Strategic Report | 1 |

Report of the Director | 3 |

Report of the Independent Auditors | 4 |

Income Statement | 8 |

Other Comprehensive Income | 9 |

Balance Sheet | 10 |

Statement of Changes in Equity | 11 |

Cash Flow Statement | 12 |

Notes to the Cash Flow Statement | 13 |

Notes to the Financial Statements | 14 |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

STRATEGIC REPORT

for the year ended 31 March 2025

The director presents his strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

eClerx Limited ("the Company") provides management and support services to its parent company, eClerx Services Limited, under an established intra-group services arrangement. The Company also generates a modest level of independent third party turnover in the UK.

For the year ended 31 March 2025, the Company recorded a profit before tax of £2.23 million (2024: £1.93 million). The increase reflects higher service activity levels and continued operational efficiency. Administrative expenses rose in line with the growth in operations. The Company maintained a stable financial position, with net assets increasing to £7.35 million (2024: £5.44 million).

Key Performance Indicators

Given the nature of the Company's activities, management monitors a small number of financial KPIs to assess performance:

KPI 2025 2024 Change

Turnover £15.27m £13.61m +12%

Operating profit before tax £2.23m £1.93m +15%

Profit for the year £1.67m £1.46m +14%

Net assets £7.35m £5.44m +35%

These KPIs reflect the Company's scale and operating model. Non-financial KPIs are not considered necessary for understanding the Company's performance.

PRINCIPAL RISKS AND UNCERTAINTIES

The Company's operations are straightforward and its risk profile is relatively low. The principal risks and uncertainties include:

- Dependence on the parent company: A significant proportion of revenue is derived from services provided to the parent. A reduction in demand could affect profitability.

- Operational and key personnel risk: As a service based business, the Company relies on retaining appropriately skilled staff.

- Regulatory and compliance risk: The Company must comply with UK legal, tax and data protection requirements. Non compliance could result in penalties or reputational damage.

- IT and systems risk: Disruption to IT systems could temporarily affect service delivery.

The Company has established controls and procedures to mitigate these risks, including oversight from the parent group, appropriate staffing policies, and robust IT and compliance processes.

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

STRATEGIC REPORT

for the year ended 31 March 2025

SECTION 172(1) STATEMENT

In making decisions during the year, the directors have had regard to their duties under section 172(1) of the Companies Act 2006. Key considerations included:

- Long term success: Ensuring the Company continues to provide high quality management and support services to the parent company.

- Employees: Supporting and developing staff to ensure continuity of service delivery.

- Business relationships: Maintaining constructive working relationships with the parent company and with the Company's limited number of external customers and suppliers.

- Regulatory compliance: Ensuring adherence to UK legal, tax and data protection requirements.

- Community and environment: Operating responsibly and in accordance with group policies on ethical conduct and sustainability.

These factors were considered in the Company's operational and financial planning throughout the year.

Future Developments

The Company expects to continue providing management and support services to the parent company under its existing operating model. Activity levels are anticipated to remain stable, with modest growth in line with the parent's operational needs. The Company will continue to focus on maintaining efficient operations, supporting staff development, and ensuring compliance with applicable regulations.

ON BEHALF OF THE BOARD:

K Jain - Director

24 December 2025

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

REPORT OF THE DIRECTOR

for the year ended 31 March 2025

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors who have held office during the period from 1 April 2024 to the date of this report are as follows:

A Malik - resigned 10 October 2024

K Jain - appointed 1 October 2024

DIRECTOR'S RESPONSIBILITIES STATEMENT

The director is responsible for preparing the Strategic Report, the Report of the Director 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;

- | 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 him 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 AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Parker Lloyd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

K Jain - Director

24 December 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

ECLERX LIMITED

Opinion

We have audited the financial statements of Eclerx Limited (the 'company') for the year ended 31 March 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of 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 the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 March 2025 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 opinion

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 Auditors' 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 opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

ECLERX LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

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

- | adequate accounting records have not been kept, or 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; or

- | we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on page three, 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 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.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

ECLERX LIMITED

Auditors' 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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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:

* 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 relevant sector;

* 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.

* We assessed the extent of compliance with laws and regulations identified above through making enquiries of management and.

* We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

* 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.

* Performed analytical procedures to identify any unusual relationships;

* Tested journal entries to identify unusual transactions;

* Assessed whether judgments and assumptions made in determining the accounting estimates were indicative of potential bias.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial statements, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures 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 errors as they may involve deliberate concealment or collusion. 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 for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

ECLERX LIMITED

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 a Report of the Auditors 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.

Dipak Patel (Senior Statutory Auditor)

for and on behalf of Parker Lloyd

Chartered Accountants and Statutory Auditors

11 Old Court House

Old Court Place

London

W8 4PD

24 December 2025

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

INCOME STATEMENT

for the year ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

TURNOVER | 15,274,614 |  | 13,607,108 |  |

Administrative expenses | 13,061,452 |  | 11,697,939 |  |

2,213,162 |  | 1,909,169 |  |

Other operating income | 12,818 |  | 22,316 |  |

OPERATING PROFIT and |

PROFIT BEFORE TAXATION | 2,225,980 |  | 1,931,485 |  |

Tax on profit | 5 | 558,401 |  | 470,627 |  |

PROFIT FOR THE FINANCIAL YEAR | 1,667,579 |  | 1,460,858 |  |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

OTHER COMPREHENSIVE INCOME

for the year ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

PROFIT FOR THE YEAR | 1,667,579 |  | 1,460,858 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 1,667,579 |  | 1,460,858 |  |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

BALANCE SHEET

31 March 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 7 | 310,583 |  | 263,808 |  |

Investments | 8 | 5 |  | - |  |

310,588 |  | 263,808 |  |

CURRENT ASSETS

Stocks | 9 | 777,616 |  | 386,689 |  |

Debtors | 10 | 3,023,618 |  | 2,596,329 |  |

Cash at bank | 4,788,688 |  | 4,289,012 |  |

8,589,922 |  | 7,272,030 |  |

CREDITORS

Amounts falling due within one year | 11 | 1,521,615 |  | 2,075,007 |  |

NET CURRENT ASSETS | 7,068,307 |  | 5,197,023 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 7,378,895 |  | 5,460,831 |  |

PROVISIONS FOR LIABILITIES | 12 | 24,039 |  | 18,534 |  |

NET ASSETS | 7,354,856 |  | 5,442,297 |  |

CAPITAL AND RESERVES

Called up share capital | 13 | 100 |  | 100 |  |

Other reserves | 14 | 939,134 |  | 694,154 |  |

Retained earnings | 14 | 6,415,622 |  | 4,748,043 |  |

SHAREHOLDERS' FUNDS | 7,354,856 |  | 5,442,297 |  |

The financial statements were approved by the director and authorised for issue on 24 December 2025 and were signed by:

K Jain - Director

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

STATEMENT OF CHANGES IN EQUITY

for the year ended 31 March 2025

| Called up |

| share |  | Retained |  | Other |  | Total

| capital |  | earnings |  | reserves |  | equity

£ | £ | £ | £ |

Balance at 1 April 2023 | 100 |  | 3,287,185 |  | 512,410 |  | 3,799,695 |  |

Changes in equity

Total comprehensive income | - |  | 1,460,858 |  | - |  | 1,460,858 |  |

Share Based Payment Reserve | - |  | - |  | 181,744 |  | 181,744 |  |

Balance at 31 March 2024 | 100 |  | 4,748,043 |  | 694,154 |  | 5,442,297 |  |

Changes in equity

Total comprehensive income | - |  | 1,667,579 |  | - |  | 1,667,579 |  |

Share Based Payment Reserve | - |  | - |  | 244,980 |  | 244,980 |  |

Balance at 31 March 2025 | 100 |  | 6,415,622 |  | 939,134 |  | 7,354,856 |  |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

CASH FLOW STATEMENT

for the year ended 31 March 2025

| 2025 |  | 2024

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 1,113,222 |  | 2,592,122 |  |

Tax paid | (432,539 | ) | (528,540 | ) |

Net cash from operating activities | 680,683 |  | 2,063,582 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (181,002 | ) | (71,585 | ) |

Purchase of fixed asset investments | (5 | ) | - |  |

Sale of tangible fixed assets | - |  | 1 |  |

Net cash from investing activities | (181,007 | ) | (71,584 | ) |

Increase in cash and cash equivalents | 499,676 |  | 1,991,998 |  |

Cash and cash equivalents at beginning of year | 2 | 4,289,012 |  | 2,297,014 |  |

Cash and cash equivalents at end of year | 2 | 4,788,688 |  | 4,289,012 |  |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

NOTES TO THE CASH FLOW STATEMENT

for the year ended 31 March 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 2025 |  | 2024

£ | £ |

| Profit before taxation | 2,225,980 |  | 1,931,485 |  |

| Depreciation charges | 134,228 |  | 138,767 |  |

| Loss on disposal of fixed assets | - |  | 77 |  |

| Transitional adjustment | (722,149 | ) | 739,436 |  |

1,638,059 |  | 2,809,765 |  |

| Increase in stocks | (390,927 | ) | (167,363 | ) |

| Increase in trade and other debtors | (97,894 | ) | (51,680 | ) |

| (Decrease)/increase in trade and other creditors | (36,016 | ) | 1,400 |  |

| Cash generated from operations | 1,113,222 |  | 2,592,122 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 4,788,688 |  | 4,289,012 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 4,289,012 |  | 2,297,014 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank | 4,289,012 |  | 499,676 |  | 4,788,688 |  |

4,289,012 |  | 499,676 |  | 4,788,688 |  |

| Total | 4,289,012 |  | 499,676 |  | 4,788,688 |  |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 March 2025

1. | STATUTORY INFORMATION

| Eclerx Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 03904167

| Registered office: | 4 Red Lion Court

| Alexandra Road

| Hounslow

| Middlesex

| TW3 1JS

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" and the Companies Act 2006. 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.

| Tangible fixed assets

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

| Estimated Useful Life

| Leasehold Property - As per Lease Agreement

| Fixtures and Fittings - 10

| Computer Equipment - 3-6

| Office Equipment - 5

| Investments in subsidiaries

| Investments in subsidiary undertakings are recognised at cost.

| Stocks

| Work in progress is valued at the lower of cost and net realisable value.

| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

| 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.

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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.

3. | EMPLOYEES AND DIRECTORS

| 2025 |  | 2024

£ | £ |

| Wages and salaries | 9,101,799 |  | 8,042,963 |  |

| Social security costs | 1,187,713 |  | 1,119,373 |  |

| Other pension costs | 79,647 |  | 52,722 |  |

10,369,159 |  | 9,215,058 |  |

| The average number of employees during the year was as follows:

| 2025 |  | 2024

80 |  | 56 |  |

| 2025 |  | 2024

£ | £ |

| Directors' remuneration | 141,380 |  | 178,421 |  |

4. | OPERATING PROFIT

| The operating profit is stated after charging:

| 2025 |  | 2024

£ | £ |

| Depreciation - owned assets | 134,227 |  | 138,768 |  |

| Loss on disposal of fixed assets | - |  | 77 |  |

| Auditors' remuneration | 14,215 |  | 13,545 |  |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

5. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 2025 |  | 2024

£ | £ |

| Current tax:

| UK corporation tax | 552,897 |  | 484,772 |  |

| Deferred tax | 5,504 |  | (14,145 | ) |

| Tax on profit | 558,401 |  | 470,627 |  |

6. | TURNOVER

| Income for the year derived from Group Undertakings amounted to £14,350,316 [2024 - £12,985,331]

7. | TANGIBLE FIXED ASSETS

| Fixtures |

| Leasehold |  | and |  | Office |  | Computer |

| property |  | fittings |  | Equipment |  | equipment |  | Totals

£ | £ | £ | £ | £ |

| COST

| At 1 April 2024 | 89,850 |  | 21,956 |  | 184,491 |  | 727,324 |  | 1,023,621 |  |

| Additions | 1,648 |  | - |  | 15,343 |  | 164,011 |  | 181,002 |  |

| At 31 March 2025 | 91,498 |  | 21,956 |  | 199,834 |  | 891,335 |  | 1,204,623 |  |

| DEPRECIATION

| At 1 April 2024 | 13,683 |  | 12,456 |  | 150,278 |  | 583,396 |  | 759,813 |  |

| Charge for year | 9,512 |  | 2,462 |  | 20,627 |  | 101,626 |  | 134,227 |  |

| At 31 March 2025 | 23,195 |  | 14,918 |  | 170,905 |  | 685,022 |  | 894,040 |  |

| NET BOOK VALUE

| At 31 March 2025 | 68,303 |  | 7,038 |  | 28,929 |  | 206,313 |  | 310,583 |  |

| At 31 March 2024 | 76,167 |  | 9,500 |  | 34,213 |  | 143,928 |  | 263,808 |  |

8. | FIXED ASSET INVESTMENTS

| Shares in

| group

| undertakings

£ |

| COST

| Additions | 5 |  |

| At 31 March 2025 | 5 |  |

| NET BOOK VALUE

| At 31 March 2025 | 5 |  |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

9. | STOCKS

2025 | 2024 |

£ | £ |

| Work-in-progress | 777,616 |  | 386,689 |  |

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

2025 | 2024 |

£ | £ |

| Trade debtors | 148,629 |  | 90,496 |  |

| Amounts owed by group undertakings | 2,004,009 |  | 1,892,665 |  |

| Other debtors | 555,080 |  | 331,769 |  |

| VAT | 76,444 |  | 36,683 |  |

| Prepayments & Accrued income | 239,456 |  | 244,716 |  |

3,023,618 |  | 2,596,329 |  |

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

2025 | 2024 |

£ | £ |

| Trade creditors | 6,908 |  | 42,924 |  |

| Tax | 137,580 |  | 17,222 |  |

| Other creditors | (1 | ) | 5,624 |  |

| Pension Fund Payable | 20,625 |  | 66,171 |  |

| Accrued expenses | 1,356,503 |  | 1,943,066 |  |

1,521,615 |  | 2,075,007 |  |

12. | PROVISIONS FOR LIABILITIES

2025 | 2024 |

£ | £ |

| Deferred tax | 24,039 |  | 18,534 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 18,534 |  |

| Provided during year | 5,505 |  |

| Balance at 31 March 2025 | 24,039 |  |

13. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2025 | 2024 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

ECLERX LIMITED (REGISTERED NUMBER: 03904167)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the year ended 31 March 2025

14. | RESERVES

| Retained |  | Other |

| earnings |  | reserves |  | Totals

£ | £ | £ |

| At 1 April 2024 | 4,748,043 |  | 694,154 |  | 5,442,197 |  |

| Profit for the year | 1,667,579 |  | 1,667,579 |  |

| Share Based Payment Reserve | - |  | 244,980 |  | 244,980 |  |

| At 31 March 2025 | 6,415,622 |  | 939,134 |  | 7,354,756 |  |

15. | ULTIMATE PARENT COMPANY

| The Holding Company of eClerx Limited is:

| eClerx Services Limited

| Sonawala Building

| 1st Floor, 29 Bank Street

| Fort, Mumbai 400 023

| Maharashtra

| India.

| A company incorporated in India, which

| owns 100% of the issued share capital .

16. | RELATED PARTY DISCLOSURES

| eClerx Services Limited - Net receivable from parent company £1,980,801 [2024 - £1,855,205]

| CLX Europe Media Solution Limited - Receivable from fellow subsidiary £8,642 [2024 - £11,810]

| eClerx LLC - Receivable from fellow subsidiary £486,931 [2024 - £251,577]

| Eclerx Investments (UK) Ltd £9,621