SOMIT SOLUTIONS LIMITED


Directors	JOSHI, Pushpahas
	SATHE, Pankaj Maheshwar
	SOANES, Julian Anthony


Registered Address	21 The Quadrant
	Barton Lane
	Abingdon
	OX14 3YS


Registered Number	09489386 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

Basis of preparation

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

	Functional and presentation currency
	The Company's functional and presentational currency is GBP.

	Going concern
	The Company is a cloud-based vehicle diagnostics specialist, which enables after-sales operations of high tech luxury and new age OEMs. The Company was acquired by KPIT Group in 2022. The Company’s cloud-based platform complements KPITs existing after-sales platform. Subsequent to the acquisition, it was planned to fully integrate the Company’s business into KPIT to offer more comprehensive solution for the benefit of customers. Consequently, the directors of the Company have passed a resolution in the board meeting held on 26th January 2023 to voluntarily liquidate the Company according to the procedure applicable in UK Companies Act. The Company intends to first liquidate its wholly owned subsidiary in US and then initiate the process in UK. On this basis the accounts have been prepared on a basis other than of going concern.

Going concern

The Company is a cloud-based vehicle diagnostics specialist, which enables after-sales operations of high tech luxury and new age OEMs. The Company was acquired by KPIT Group in 2022. The Company’s cloud-based platform complements KPITs existing after-sales platform. Subsequent to the acquisition, it was planned to fully integrate the Company’s business into KPIT to offer more comprehensive solution for the benefit of customers. Consequently, the directors of the Company have passed a resolution in the board meeting held on 26th January 2023 to voluntarily liquidate the Company according to the procedure applicable in UK Companies Act. The Company intends to first liquidate its wholly owned subsidiary in US and then initiate the process in UK. On this basis the accounts have been prepared on a basis other than of going concern.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from the provision of software or hardware sales is recognised when the goods are transferred to the customer. Revenue from consultancy services is recognised over the period to which the services are provided.

Revenue from sale of goods

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the provision of software or hardware sales is recognised when the goods are transferred to the customer.

Revenue from consultancy services is recognised over the period to which the services are provided.

	Interest income
	Interest income is recognised in profit or loss using the effective interest method.

	Employee 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.

	Finance costs
	Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

	Foreign currency translation
	Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

	Current taxation
	Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Current taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

	Deferred tax
	Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

	Intangible assets
	Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows: Computer software - 5 years

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Computer software - 5 years

	Tangible fixed assets and depreciation
	Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Tangible fixed assets and depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.


		Straight line (years)
	Office Equipment	3

	Investments
	Investments in subsidiaries are measured at cost less accumulated impairment.

	Trade and other debtors
	Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

	Cash and cash equivalents
	Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

	Trade and other creditors
	Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 25	63,440	63,440
Disposals	(63,440)	(63,440)
Amortisation and impairment
At 01 January 25	38,675	38,675
Charge for year	1,033	1,033
On disposals	(39,708)	(39,708)
Net book value
At 31 December 25	-	-
At 31 December 24	24,765	24,765

4.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 January 25	14,446	14,446
Disposals	(14,446)	(14,446)
Depreciation and impairment
At 01 January 25	13,940	13,940
Charge for year	182	182
On disposals	(14,122)	(14,122)
Net book value
At 31 December 25	-	-
At 31 December 24	506	506

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Other debtors	558	553
Prepayments and accrued income	-	25
Total	558	578

6.	Current asset investments

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	-	2,364
Amounts owed to related parties	-	327,839
Accrued liabilities and deferred income	-	12,500
Total	-	342,703


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

8.	Controlling party
	The immediate parent undertaking of the company is KPIT Technologies (UK) Limited and the ultimate controlling party is KPIT Technologies Limited. The consolidated financial statements of KPIT Technologies Limited may be obtained by the public from KPIT Campus, Number-17, Rajiv Gandhi Infotech Park, MIDC-SEZ, Phase-III, Hinjawadi, Pune, 411057.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		-		24,765
Tangible assets	4		-		506
			-		25,271
Current assets
Debtors	5	558		578
Current asset investments	6	21,616		21,616
Cash at bank and on hand		501,823		844,989
		523,997		867,183
Creditors amounts falling due within one year	7	-		(342,703)
Net current assets (liabilities)			523,997		524,480
Total assets less current liabilities			523,997		549,751
Net assets			523,997		549,751
Capital and reserves
Called up share capital			200		200
Profit and loss account			523,797		549,551
Shareholders' funds			523,997		549,751