The directors present their strategic report for the year ended 31 March 2026.

The Company's revenue from operations for the financial year under review were GBP 143,583,806 as against GBP 102,222,886 for the previous financial year. The profit before tax was GBP 4,178,316 for the financial year under review as against GBP 3,372,446 for the previous financial year demonstrating robust financial management despite challenging market conditions. This growth has positively impacted cashflow.

As one of the world's leading technology consulting and digital solutions enterprise, LTIMindtree enables businesses across diverse sectors to harness the power of digital technology to deal with complex business challenges, innovate at scale and drive tangible business outcomes. LTIMindtree UK Limited (Company) is wholly owned subsidiary of LTIMindtree Limited, India. The Company makes money by providing technology consulting and digital solutions to enterprises across industries. Services include digital transformation, IT services, and consulting, which help clients reimagine business models, accelerate innovation, and maximize growth.

AI continues to sweep through the business world. As more businesses seek to integrate AI into their daily workflows, vendors across the technology sector are investing in AI solutions to offer their customers.

While most other companies are still struggling to find production ready use cases for AI, Our Company has taken a holistic approach to AI. The Company is planning to invest in building AI capabilities, offerings and differentiated platforms that can be used to bolster productivity and elevate business whilst minimizing potential risks.

It is also important to upskill existing workforce due to the ongoing development of AI. The core emphasis is on conducting workshops executives, enabling them to adapt this as an additional skill set within their overall competencies.

During the previous year, Company was recognised as Salesforce Partner Innovation Award 2024 in Retail category underscoring our vision of delivering best-in-class omnichannel shopping experience for the end customers.

Looking ahead, UK's tech industry is the largest in Europe. The Company aims to capitalize on growth opportunities while continuing to innovate and enhance the product/service offerings. We are also committed to sustainable practices and aim to improve our environmental and social impact

The directors consider that financial risks relevant to company are credit risks, cash flow risks, and liquidity risks.

The Company operates in a highly competitive IT services market where the ability to attract, develop and retain skilled professionals is critical to delivering client engagements and achieving financial performance. Failure to maintain an appropriately skilled workforce may impact service quality, delivery timelines and client relationships.

The Company leverages group-wide people strategies aligned with LTIMindtree, including structured recruitment, continuous learning and development programmes, and performance-driven retention initiatives. Focus is placed on diversity, inclusion, and targeted upskilling in emerging technologies such as AI and cloud computing to ensure workforce readiness.

The rapid evolution of artificial intelligence (AI) technologies presents both opportunities and risks to the Company's business model. Increased adoption of AI by clients and competitors may reduce demand for certain traditional service offerings and place pressure on pricing and margins. Additionally, failure to effectively integrate AI-enabled solutions or develop the necessary workforce capabilities could adversely affect the Company's competitive position.

The Company continues to actively monitor AI developments and is investing in capability building, process enhancements and innovation initiatives to address these risks. It benefits from group-level investment in AI-led solutions, automation frameworks and digital transformation programmes. The Company maintains a diversified technology portfolio and is not reliant on any single platform. Ongoing investment in research, training and client-focused innovation supports its ability to remain competitive in a rapidly evolving technological landscape.

Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligation which is primary attributable to its trade receivables. The company is also exposed to credit risk arising from other financial assets, which comprise of Group companies' receivables, cash and short-term deposits. The Company's exposure to credit risk arises from the default of the counterparty with a maximum exposure equal to the carrying value of these instruments if a counterparty to a financial instrument fails to meet its contractual obligation. The company has credit policy in place which is reviewed and monitor on an ongoing basis. New credit customers are only accepted after they have been approved by the credit control department. Cash is lodged with reputable financial institutions that have been pre-approved by the board.

Liquidity risk is the risk that the Company may not be able to meet its financial obligations as they fall due. The Company ensures that there are sufficient levels of committed facilities and cash to ensure that the Company is, at all times, able to meet its financial commitments. Liquidity risk is managed by daily and weekly monitoring of forecast and actual cash flows. The Company is financed with appropriate long-term and short-term finance to match the liquidity requirements of the business.

The Company recorded profit after tax of £ 3,133,737 (31.3.25: £ 2,354,580) and turnover of £ 143,583,806 (31.3.25:  £ 102,222,886).

The following are some of the principal KPIs used to monitor the performance of the Company:

o Net Worth

o Revenue

o Operational efficiency and service quality

In accordance with the Companies Act 2006, the directors monitor the performance of the Company using a combination of financial and non-financial key performance indicators (“KPIs”) relevant to the Company's activities and strategic objectives.

The primary financial indicators used by management are revenue and net worth:

Revenue for the year was £143.58 million (2025: £102.23 million). Revenue is considered a key measure of the Company's operational scale and activity levels of the Company.

Net worth increased to £10.47 million (2025: £7.33 million), reflecting the accumulation of retained earnings and the maintenance of an appropriate capital base. The Company operates under a transfer pricing arrangement with its Indian parent entity, under which it retains a defined margin. Accordingly, profit is not considered a key performance indicator.

The Company also monitors non-financial indicators which are important to its long-term performance:

Operational efficiency and service quality, assessed through internal benchmarks and stakeholder feedback Employee performance and retention, given the service-driven nature of operations

The Company's directors consider, both individually and together, that they have acted in the way which they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its shareholders. They have also considered the Company's other stakeholders and matters set out in section 172(1)(a) to (f) of the Companies Act 2006 in the decisions taken during the financial year ended 31 March 2026. In doing the duties, the directors must have regard (amongst other matters) to:

a) the likely consequences of any decision in the long term;

b) the interests of the Company employees

c) the need to foster the Company's business relationships with customers, suppliers and others;

d) the impact of the Company's operations on the community and the environment;

e) the desirability of the Company maintaining a reputation for high standards of business conduct; and

f) the need to act fairly as between members of the Company.

The Board fully understands its duty under section 172 (1) of the Companies Act, 2006 to ensure they promote the success of the Company for the benefits of its members. The Board is aware of all stakeholder interests, and as such takes a long-term view in making key decisions, and when such decisions are taken, the board acts in the interests of such shareholders and ensures all stakeholders are treated fairly. Decisions made by the Company's directors align with LTIMindtree's strategic priorities and code of conduct. The key decisions made at the Company level include approving the annual financial statements.

The Company is in IT and related services business, and our employees' success is an important part of our vision. We strive to make every employee feel valued and respected for who they are and the unique contributions they make. The Company values the involvement of its employees through group communications, regular leaderships announcements of strategy and performance which are run across the group.

LTIMindtree places significant importance on maintaining strong relationships with its customers, suppliers and wider stakeholders, which are key to the business's long-term success. Customer engagement is supported through quality service delivery, data security and meeting tight timelines. The Company works closely with suppliers through long-term contracts and cost management.

The Board also engages with other stakeholders, including employees, landlords and regulatory authorities, and has regard to their interests in its decision-making to support sustainable growth and business continuity.

The Directors consider environmental matters as part of the Company's decision-making processes, with the aim of minimising environmental impact where practicable. Please refer Directors' report "Streamline Energy and Carbon Reporting" section for further details.

The directors present their report with the financial statements of the company for the year ended 31 March 2026.

No dividends will be distributed for the period ended 31 March 2026. Results for the year set out at page no.13.

In a rapidly changing global landscape where disruption is the new normal, the company is leveraging technology to create sustainable advantage not only for itself but more importantly, for its clients. While the Company has the real-world expertise in diverse domains, it has also invested consciously towards building expertise in exponential technologies.

The Company plans to continue to relentlessly focus on strategy which is about helping our clients navigate to digital future. It continues to build solid fundamentals, drive growth momentum and reinforce partnerships to help clients recover.

Mr. Srinivas R. Veluvali has resigned from his position as Director of the Company, with effect from 13 February 2026.

Its company's policy not to enter into trading of the speculative nature in respect of financial instrument.

Refer the accounting policies for further details on financial instruments. (Refer note no.21) in the financial statements and Principal risk and uncertainties in the strategic report for the details of financial risks management objectives and exposure of the Company to Credit risk, liquidity risk, market risk and foreign currency risk.

The employment policies of the Company are designed to attract, retain and motivate the highest quality personnel, recognising that this can only be achieved through offering equal opportunities, irrespective of race, colour, creed, age, sex, marital status, national origin or disability. Therefore, recruitment and promotion are solely dependent upon the suitability of an applicant for the job.

The Company provides effective communication with employees through bulletins relating to the business performance, objectives and other issues

The company's policy is to recruit disabled worker for those vacancies that they are able to fill. All necessary assistance with initial training courses is given, once employed, a career plan is developed so as to ensure suitable opportunities for each disabled person. Arrangements are made, wherever possible for retaining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.

The Company upholds the highest standards in its relationships with customers, suppliers, and stakeholders. A relationship of service and trust with our customers is vital to our success as a company. The Company maintains strong

relationships with customers through quality delivery, data security, and meeting tight timelines; with suppliers (software vendors, cloud providers, others) via long-term contracts and cost management; with Shareholders/Investors by promoting long-term value, sustainable returns, business continuity, strategic growth and transparent governance and risk management; and with industry bodies and government agencies to support UK creative sector growth and tax relief frameworks.

The Directors have comprehensively assessed the Company's ability to continue as a going concern, considering at least the twelve months from the date of approval of these financial statements.

The Company demonstrated continued growth during the year, with turnover increasing to £143 million (2025: £102 million) and profit after tax rising to £3.13 million (2025: £2.35 million). Net worth strengthened to £10.47 million (2025: £7.34 million), reflecting improved financial resilience and operational performance. The Directors reviewed financial forecasts, considering reasonably possible changes in trading performance, including analysis of key assumptions regarding revenue growth. The Company continues to operate with a positive net asset position and has sufficient liquidity to meet its obligations as they fall due.

The business operates in the IT services sector, which continues to show stable demand, and the Company benefits from a diversified customer base and recurring revenue streams, reducing exposure to significant volatility. Directors have also considered principal risks and uncertainties. While macroeconomic conditions and client spending patterns remain areas of focus, no material uncertainties have been identified that would cast significant doubt on the Company's ability to continue as a going concern.

Based on this assessment, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

The Companies Act 2006 (Strategic Report and Directors' Reports) Regulations require companies to publish energy and carbon report applying the 2019 UK Government Environmental Reporting Guidelines, including the Streamlined Energy and Carbon Reporting Guidance (SECR).

In the fiscal year 2024-25, the company reported its Greenhouse Gas (GHG) emissions and energy consumption for the first time, having met the threshold criteria required for disclosure. With the fiscal year 2025-26, the company enters its second year of compliance with the Streamlined Energy and Carbon Reporting (SECR) framework.

FY 2024–25 has been designed as our base year for our first-year reporting under the SECR framework. At the time of Initial reporting under SECR, electricity consumption data for February and March 2025 was unavailable, and was estimated using extrapolation techniques. Actual consumption data for these months has now been obtained, along with refinements in unit usage etc. Scope 2 emissions have been recalculated to reflect these updates. This restatement is solely done to improve data accuracy and consistency and do not reflect any change in the Company's operational boundary or reporting methodology or underlying operations. Comparative disclosures have been updated where relevant to ensure consistency.

Statement of carbon emissions in compliance with Streamlined Energy and Carbon Reporting (SECR) covering energy use and associated greenhouse gas emissions, intensity ratios and information relating to energy efficiency actions are as follows:

The total annual energy consumption for the year ending 31 March 2026 was 79,750kWh (2025: 62,354 kWh)

The company calculates the intensity ratio using total turnover, as this enables the monitoring of emissions over time while accounting for changes in the company's size. This approach ensures maximum accuracy and aligns closely with the company's growth trajectory.

LTM UK Limited calculated and disclosed GHG emissions from Scope 1, Scope 2, and Scope 3 in compliance with Streamlined Energy and Carbon Reporting (SECR) regulations as a Large unquoted Company.

Our methodology underlying our disclosed emissions is based on the “Environmental Reporting Guidelines: including mandatory greenhouse gas emissions reporting guidance” (March 2024) issued by the Department for Business, Energy & Industrial Strategy (BEIS). This methodology is consistent with the World Resources Institute's Greenhouse Gas Protocol (GHGP) Corporate Accounting and Reporting Standard.

Using an operational approach, the Company identified its population to ensure that all activities and facilities are being recorded and reported in line with the mandatory GHG protocol corporate accounting and reporting standard. The validity, accuracy and completeness of the data was checked and used to calculate the GHG for the Company. Emissions are calculated as activity data multiplied by the corresponding emissions factors sourced from UK Government greenhouse gas reporting conversion factors (published by BEIS in 2024).

LTIMindtree UK Limited ensures continued compliance to all applicable environmental regulations and committed to meeting the requirements including SECR.

We seek to minimise the impact of our operations on the environment and striving to reduce our GHG emissions and improve energy efficiency via several initiatives:

All lighting systems are equipped with LED fixtures and motion sensors, ensuring energy is used only when needed.

HVAC systems, managed by building facilities, operate strictly during office hours and are shut down during extended holidays such as Easter and Christmas to conserve energy.

Offices are equipped with energy-efficient appliances and equipment to minimize power consumption.

Business travel is limited to essential purposes only, helping reduce associated emissions.

Employees are encouraged to opt for sustainable modes of transport whenever feasible.

The organization actively promotes the adoption of electric vehicles (EVs) among employees.

Public transportation is encouraged for commuting and business travel, wherever practical.

When selecting new office locations, preference is given to buildings certified under BREEAM or LEED, reflecting our commitment to green infrastructure.

Through advocacy of sustainability initiatives, implementation of resource efficiency measures, and employee engagement via training programs on environmental health and safety, we empower our workforce to embrace eco-friendly practices.

Energy audits are conducted periodically to identify inefficiencies and guide upgrades for lighting, HVAC, and insulation.

Digitalization and paperless workflows are promoted to reduce resource use and waste.

Air conditioning operates only on weekdays (09:00–18:00) and is adjusted during low occupancy periods to minimize unnecessary energy consumption.

Installed sensor-based LED lighting that responds to occupancy and natural daylight, reducing electricity use and extending fixture lifespan.

Adopted a centralized printing model with a single shared printer to lower energy use and maintenance requirements.

Discontinued landline phones, reducing electricity consumption and simplifying communication infrastructure.

Eliminated desktop computers; employees use alternative devices, with all monitors configured to enter sleep mode when inactive.

Utilization of energy-efficient equipment in the offices

Preference will be given to essential travel only for the business to limit related emissions.

Use of more sustainable mode of transport whenever feasible.

Promoting the use of electrical vehicles by employees

Encouraging use of public transport for business commuting and travel wherever feasible

Preference for New offices selection will be given for BREEAM / LEED certified buildings

By fostering advocacy on sustainability initiatives, resource efficiency measures, team engagement, training programs about environmental health and safety etc. we empower employees to champion eco-friendly practices. This collaborative approach enhances organizational commitment to sustainability, aligns with green goals, and motivates employees to become stewards of environmental responsibility.

The directors are responsible for preparing the Strategic Report, the Report of the Directors, and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors' have elected to prepare the financial statements in accordance with UK-adopted international accounting standards. Under company law the directors must not approve the financial statements unless they are 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 directors are 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 directors are 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. They are 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.

The directors are responsible for preparing the annual report in accordance with applicable law and regulations. The directors consider the annual report and the financial statements, taken as a whole, provides the information necessary to assess the company's performance, business model and strategy and is fair, balanced and understandable.

We, the directors of the company who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

- There is no relevant audit information of which the company's auditors are unaware; and

- We have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information

Under section 487(2) of the Companies Act 2006, PBG Associates (London) Limited will be deemed to have been reappointed as auditors 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.

Date:   22 April 2026

We have audited the financial statements of LTIMindtree UK Limited (the 'Company') for the period ended 31 March 2026 which comprise the Statement of Profit or Loss, the Statement of Profit or Loss and Other Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows, Notes to the Financial Statements, including a summary of material accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and UK-adopted International Accounting Standards (IAS).

In our opinion, the financial statements:

- have been properly prepared in accordance with UK-adopted International Accounting Standards; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

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.

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

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

The directors are responsible for the other information. The other information comprises the information in the Strategy 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.

We have nothing to report in this regard.

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

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

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

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 Report of the Directors and Strategic Report.

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; or

As explained more fully in the Statement of Directors' Responsibilities set out on page 9, the directors are 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 directors determine 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 directors are 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.

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. 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 those charged with governance of the Company. Our approach was as follows:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant are those that related to laws and regulations which are considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, Employee Related Laws and distributable profits legislation and indirect tax compliance regulations in the United Kingdom

We enquired of management and those charged with governance, concerning the company's policies and procedures relating to:

the identification, evaluation and compliance with laws and regulations;

and the detection and response to the risks of fraud.

We enquired of management and those charged with governance and corroborated this through a review of supporting documents and board minutes, whether they were aware of any instances of non-compliance with laws and regulations or whether they had any knowledge of actual, suspected or alleged fraud

We assessed the susceptibility of the Company's financial statements to material misstatement, including risks arising from fraud, in particular management override of controls and the presumed risk of fraud in revenue recognition. Audit procedures performed by the engagement team included:

Tested the appropriateness of entries in the nominal ledger on sample basis, including journal entries, reviewed transactions around the reporting period end;

Assessed the design and implementation of controls over revenue and performed substantive procedures;

performed analytical procedures to identify unexpected movements in account balances that may be indicative of fraud;

We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

The engagement partner's assessment of the appropriateness of the collective competence and capabilities of the engagement team included consideration of the engagement team's: Understanding of, and practical experience with, audit engagements of a similar nature and complexity, through appropriate training and participation; and Knowledge of the industry in which the company operates.

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.

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.

Date: 22 April 2026

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

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

LTIMindtree UK Limited (formerly 'Larsen & Toubro Infotech UK Limited') is a private company, limited by shares, registered in England and Wales. The registered number is 12817556 and the registered address is 6 Bevis Marks, London, England, EC3A7BA. The principal activities of the Company to provide IT services, including application development, implementation, systems integration, application maintenance, testing and support services.

The Company financial statements have been prepared and approved by the directors in accordance with UK Adopted International Accounting Standards.

The accounting policies set out below have, unless otherwise stated, been applied consistently to all years presented in these financial statements.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Judgements made by the directors, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are discussed below under "accounting estimates and judgements"

The following international financial reporting standards (IFRSs) and interpretations were in issue and applicable to periods commencing on or after 1 January 2025:

The Directors have comprehensively assessed the Company's ability to continue as a going concern, considering at least the twelve months from the date of approval of these financial statements.

The Company demonstrated continued growth during the year, with turnover increasing to £143 million (2025: £102 million) and profit after tax rising to £3.13 million (2025: £2.35 million). Net worth strengthened to £10.47 million (2025: £7.34 million), reflecting improved financial resilience and operational performance. The Directors reviewed financial forecasts, considering reasonably possible changes in trading performance, including analysis of key assumptions regarding revenue growth. The Company continues to operate with a positive net asset position and has sufficient liquidity to meet its obligations as they fall due.

The business operates in the IT services sector, which continues to show stable demand, and the Company benefits from a diversified customer base and recurring revenue streams, reducing exposure to significant volatility. Directors have also considered principal risks and uncertainties. While macroeconomic conditions and client spending patterns remain areas of focus, no material uncertainties have been identified that would cast significant doubt on the Company's ability to continue as a going concern.

Based on this assessment, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

Revenue is recognised upon transfer of control of promised products or services to customers. Revenue is measured based on the consideration specified in a contract with a customer, and is reduced for volume discounts, rebates and other similar allowances.

Revenue from services performed on fixed-price basis which are generally time bound, shall be recognized over the life of the project based on percentage completion method for the defined Performance Obligation with contract costs determining the degree of completion. When total cost estimates exceed revenue in arrangement, the estimated losses are recognised in the statement of profit and loss in the period in which such losses become probable based on the current contract estimates.

Revenue from sale of licenses / hardware, where the customer obtains a "right to use" the licenses / hardware is recognised at the point in time when the related license / hardware is made available to the customer. Revenue from licenses / hardware where the customer obtains a "right to access" is recognised over the access period. Where right to consideration is unconditional upon passage of time is classified as a financial asset however, for fixed price development contracts, where milestone is not due as per contract terms as on date of reporting, the same is classified as non-financial asset.

Deferred income represents income received or invoiced in advance and is recognised as revenue when the related goods or services are provided

Contract Assets represents income earned but not yet invoiced or received at the reporting date.

Cash and cash equivalents comprise cash balances. Bank overdrafts that are repayable on demand and form an integral part of the Company's cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.

Property, plant and equipment are initially recorded at cost of purchase or construction and are depreciated on a straight-line basis, except for land, which is not depreciated. The estimated useful lives are as follows:

Following the adoption of IAS 32, financial instruments issued by the Company are treated as equity only to the extent that they meet the following two conditions:

(a) They include no contractual obligations upon the company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the company; and

(b) where the instrument will or may be settled in the company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the company's own equity instruments or is a derivative that will be settled by the company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments.

To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the company's own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares. Financial assets and financial liabilities are recognised on the statement of financial position when the Company becomes a party to the contractual provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.

Debt instruments that meet the following conditions are subsequently measured at amortised cost:

- the financial asset is held within a business model whose objective is to hold financial assets in order to collect contractual cash flows; and

- the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

Debt instruments that meet the following conditions are subsequently measured at fair value through other comprehensive income (FVTOCI):

- the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling the financial assets; and

- the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

By default, all other financial assets are subsequently measured at fair value through profit or loss (FVTPL).

Despite therefore going, the Company may make the following irrevocable election/designation at initial recognition of a financial asset:

- the Company may irrevocably elect to present subsequent changes in fair value of an equity investment in other comprehensive income if certain criteria are met; and

- the Company may irrevocably designate a debt investment that meets the amortised cost or FVTOCI criteria as measured at FVTPL if doing so eliminates or significantly reduces an accounting mismatch.

The effective interest method is a method of calculating the amortized cost of a debt instrument and of allocating interest income over the relevant period.

For financial instruments other than purchased or originated credit-impaired financial assets, the effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) excluding expected credit losses, through the expected life of the debt instrument, or, where appropriate, a shorter period, to the gross carrying amount of the debt instrument on initial recognition. For purchased or originated credit-impaired financial assets, a credit- adjusted effective interest rate is calculated by discounting the estimated future cash flows, including expected credit losses, to the amortized cost of the debt instrument on initial recognition.

The amortized cost of a financial asset is the amount at which the financial asset is measured at initial recognition minus the principal repayments, plus the cumulative amortization using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. On the other hand, the gross carrying amount of a financial asset is the amortized cost of a financial asset before adjusting for any loss allowance. Interest income is recognized using the effective interest method for debt instruments measured subsequently at amortized cost and at FVTOCI. For financial instruments other than purchased or originated credit-impaired financial assets, interest income is calculated by applying the effective interest rate to the gross carrying amount of a financial asset, except for financial assets that have subsequently become credit-impaired.

For financial assets that have subsequently become credit- impaired, interest income is recognized by applying the effective interest rate to the amortized cost of the financial asset. If, in subsequent reporting periods, the credit risk on the credit-impaired financial instrument improves so that the financial asset is no longer credit-impaired, interest income is recognized by applying the effective interest rate to the gross carrying amount of the financial asset.

The Company always recognises lifetime ECL for trade and receivables and contract assets. The expected credit losses on these financial assets are estimated using a provision matrix based on the Company's historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate.

In assessing whether the credit risk on a financial instrument has increased significantly since initial recognition, the company compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition. In making this assessment, the company considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort. Forward-looking information considered includes various external sources of actual and forecast economic information that relate to the company's core operations.

In particular, the following information is considered when assessing whether credit risk has increased significantly since initial recognition:

significant deterioration in external market indicators of credit risk for a particular financial instrument, e.g., a significant increase in the credit spread, the credit default swap prices for the debtor, or the length of time or the extent to which the fair value of a financial asset has been less than its amortised cost;

existing or forecast adverse changes in business, financial or economic conditions that are expected to cause a significant decrease in the debtor's ability to meet its debt obligations;

an actual or expected significant deterioration in the operating results of the debtor;

significant increases in credit risk on other financial instruments of the same debtor;

an actual or expected significant adverse change in the regulatory, economic, or technological environment of the debtor.

Irrespective of the outcome of the above assessment, the company presumes that the credit risk on a financial asset has increased significantly since initial recognition when contractual payments are more than 30 days past due, unless the company has reasonable and supportable information that demonstrates otherwise.

Despite the afore going, the company assumes that the credit risk on a financial instrument has not increased significantly since initial recognition if the financial instrument is determined to have low credit risk at the reporting date. A financial instrument is determined to have low credit risk if i) the financial instrument has a low risk of default, ii) the borrower has a strong capacity to meet its contractual cash flow obligations in the near term and iii) adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the borrower to fulfil its contractual cash flow obligations. The company considers a financial asset to have low credit risk when it has an internal or external credit rating of "investment grade" as per globally understood definition.

A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably.

An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset's original effective interest rate. Interest on the impaired asset continues to be recognised through the unwinding of the discount. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through profit or loss.

The company regularly monitors the effectiveness of the criteria used to identify whether there has been a significant increase in credit risk and revises them as appropriate to ensure that the criteria are capable of identifying significant increase in credit risk before the amount becomes past due.

The carrying amounts of the Company's non-financial assets, other than deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset's recoverable amount is estimated.

The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. 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 the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or groups of assets (the "cash-generating unit").

An impairment loss is recognised if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognised in profit or loss. Impairment losses recognised in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the units, and then to reduce the carrying amounts of the other assets in the unit (group of units) on a pro rata basis.

An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the statement of profit and loss and other comprehensive income except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the statement of financial position date.

Deferred tax is provided on temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. A deferred tax asset is recognised only to the extent that it is probable that future profits will be available against which the temporary difference can be utilised. The directors make an assessment of future profits based on historical experience and various other forecasting judgements and assumptions. Where it is not deemed probable that future profits will be available, the deferred tax asset is not recognised to this extent. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 realized based on the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the company intends to settle its current tax assets and liabilities on a net basis.

Current and deferred tax are recognised as an expense or income in profit or loss, except when they relate to items credited or debited outside profit or loss (either in other comprehensive income or directly in equity), in which case the tax is also recognised outside profit or loss (either in other comprehensive income or directly in equity respectively).

Transactions in foreign currencies are translated to the Company's functional currency at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are retranslated to the functional currency at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the statement of profit and loss. Non-monetary assets and liabilities that are measured in terms of historical cost in a foreign currency are translated using the exchange rate at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are retranslated to the functional currency at foreign exchange rates ruling at the dates the fair value was determined.

Leases are recognised as finance leases. The lease liability is initially recognised at the present value of the lease payments which have not yet been made and subsequently measured under the amortised cost method. The initial cost of the right-of-use asset comprises the amount of the initial measurement of the lease liability, lease payments made prior to the lease commencement date, initial direct costs and the estimated costs of removing or dismantling the underlying asset per the conditions of the contract.

Where ownership of the right-of-use asset transfers to the lessee at the end of the lease term, the right-of-use asset is depreciated over the asset's remaining useful life. If ownership of the right-of-use asset does not transfer to the lessee at the end of the lease term, depreciation is charged over the shorter of the useful life of the right-of-use asset and the lease term.

Non-derivative financial instruments comprise trade and other receivables, cash and cash equivalents, loans and borrowings and trade and other payables.

Interest expense and similar charges are expensed in the profit and loss statement on the period in which they are incurred, except to the extent that they are capitalised as being attributable to the acquisition, construction or production of an asset which necessarily takes a substantial period of time to be prepared for its intended use or sale. The interest component of finance lease payments is recognised in the profit and loss statement using the effective interest method.

Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established. It is then shown in the statement of profit or loss and other comprehensive income.

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a realisable 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 end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, the receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Judgement is required in classifying items as exceptional. Management have considered items to be exceptional if they are material and one off in nature.

Financial liabilities and equity instruments issued by the company are classified according to the substance of the contractual arrangements entered and the definitions of a financial liability and an equity instrument.

An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments are recorded at the proceeds received, net of direct issue costs.

Financial liabilities that are not 1) contingent consideration of an acquirer in a business combination, 2) held-for-trading, or 3) designated as at FVTPL, are subsequently measured at amortized cost using the effective interest method.

The effective interest method is a method of calculating the amortized cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortized cost of a financial liability.

The Company derecognizes financial liabilities when, and only when, the Company's obligations are discharged, cancelled or they expire.

Financial assets and financial liabilities are offset and the net amount presented in the statement of financial position when the Company has a legally enforceable right to set off the recognised amounts; and intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. A right to set-off must be available today rather than being contingent on a future event and must be exercisable by any of the counterparties, both in the normal course of business and in the event of default, insolvency or bankruptcy.

The preparation of the financial information requires the directors to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.  The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Management is of the opinion that there is no application of judgement expected to have a significant effect on the amounts recognised in the financial statements.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future period. The key assumptions concerning the future and other key sources of estimation uncertainty at the balance sheet date, that have a significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next financial year are discussed below:

Significant judgment is required in determining the provision for unsettled trade receivables and deductibility of such amount from the income during the estimation of the provision for income taxes. There are many transactions and calculations for which the ultimate tax determination is uncertain during the ordinary course of business. The company recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such difference will impact the income tax and deferred income tax provisions in the year in which such determination is made.

The Company uses the percentage-of-completion method in accounting for its fixed-price contracts. Use of the percentage of-completion method requires the Company to estimate efforts or costs expended to date as a proportion of the total efforts or costs to be expended. Efforts or costs expended have been used to measure progress towards completion as there is a direct relationship between input and productivity. Further, the Company uses significant judgements while determining the transaction price to be allocated to performance obligations. Provision for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable based on the expected contract estimates at the reporting date.

The principal activities of the company to provide IT services, including application development, implementation, systems integration, application maintenance, testing and support services and the Chief Operating Decision Maker assessed the business performance of the Company as a whole. Accordingly, there are no reportable segments.

Remuneration of highest paid director is £282,186 (31.3.25: £ 390,252) - including contribution to pension scheme.

The profit before income tax is stated after charging/(crediting):

The Company has lease contracts for office premises typically ranging from 7 to 10 years. Each lease payment is allocated between the principal payment of lease liabilities and interest expense on the lease liabilities. The interest expense is charged to the statement of profit and loss account over the lease term by using the effective interest rate method. The right of use assets is depreciated on a straight-line basis over the term of the lease:

Aging of trade receivables (which are included in trade receivables), based on invoice date is as follows:

The movement in the allowance for impairment in respect of trade receivables and contract assets during the period was as follows:

The Company has a sanctioned interest-bearing overdraft facility of USD 10 million from bank.

During the year, the Company surrendered the UK Bevis Mark 10th floor lease and, since the lease was fully terminated, the related lease liability and ROU asset were written off with the resulting balance recognised as a gain on short closure of lease. A new lease has been entered for UK Bevis Mark 7th Floor North. The addition of 7th floor North is treated as a separate lease as it provides an additional right of use at consideration aligned with its standalone price, resulting in recognition of a new ROU asset and lease liability.

Further, for UK Bevis Mark 7th floor South, there is an extension of term by 2 years (from Oct 2033 to Oct 2035) and is treated as a lease modification, with the lease liability remeasured for the extended term and a corresponding adjustment made to the ROU asset.

Senior management and the directors have overall responsibility for the oversight of the Company's risk management framework. Senior management and directors review and manage risk on an ad hoc basis when required through specific consideration of transactions. When identified, agreed actions are taken to mitigate these risks.

Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligation and arises principally from the company's receivables.

The Company has no significant concentrations of credit risk. The trade receivables balance is spread across different customers. The Company has policies in place to ensure that agreements are made with customers with an appropriate credit history. The Company only sells to customers that are credit-worthy. The Company monitors the credit-worthiness of counterparties using publicly available information. As a result, the Company's exposure to bad debts is not significant.

The company is also exposed to credit risk arising from other financial assets, which comprise of cash.  The Company's exposure to credit risk arises from the default of the counterparty with a maximum exposure equal to the carrying value of these instruments if a counterparty to a financial instrument fails to meet its contractual obligation.

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due by ensuring that there is sufficient cash or working capital facilities to meet the Company's cash requirements.

The risk is measured by review of forecast liquidity each month to determine whether there are sufficient credit facilities to meet forecast requirements. These continue to demonstrate the strong cash generating ability of the business and its ability to operate within existing agreed facilities.

Market risk is the risk that changes in the market prices, such as foreign exchange rates and interest rates will affect the Company's income. The Company's exposure to market risk predominately relates to foreign currency risk.  The Company has no borrowings or investments in interest bearing instruments, resulting in no interest rate risk.

The Company operates internationally and is, therefore, exposed to the foreign exchange risk, which could impact revenue, costs, margins, and profits. The Company transacts with customers in Euro and US dollar.

The following table shows the extent to which the Company has monetary assets and monetary liabilities at the balance sheet date in currencies other than the local currency of operation. Monetary assets and liabilities refer to cash and trade receivables (including amounts due from group undertakings), trade payables (including amounts due from group undertakings) to be received or paid in cash.

The table below shows the Company's sensitivity to foreign exchange rates for its US dollar and Euro, the major currencies in which the outstanding balances are denominated.

A strengthening / weakening of sterling, as indicated, against the US dollar and Euros at each period would have increased / (decreased) retained earnings by the amounts shown above. This analysis is based on foreign exchange rate variances that the Company considers to be reasonably possible at the end of the reporting period. The analysis assumes that all other variables remain constant.

The Company's objectives when managing capital are to safeguard its ability to continue as a going concern and to optimise returns to its shareholders. The Board's policy is to retain a strong capital base to maintain investor, creditor, and market confidence and to sustain future growth. The directors regularly monitor the level of capital in the company to ensure that this can be achieved.

The fair value of each class of financial assets and liabilities approximates their carrying amounts due to a short maturity. The financial assets to which this applies are

(i) cash and cash equivalents and

(ii) trade and other receivables (other than prepayments and accrued income)

The financial liabilities comprise of trade and other payables (other than amounts owed for social security, VAT and other taxes)

Financial instruments carried at fair value should be measured with reference to the following levels:

-   Level 1: quoted prices in active markets for identical assets or liabilities

-   Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices) and

-   Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs)

All financial instruments carried at fair value have been measured using a Level 2 valuation method.

The fair value of the financial assets and liabilities are equal to carrying values.

The company's ultimate parent company and controlling party is Larsen and Toubro Limited, incorporated in India and listed on the Indian stock exchange. The company office address is L & T House, Ballard Estate Mumbai MH 400001. The company's immediate parent company is LTIMindtree Limited (Incorporated in India).

The Company exposure/Contingent liability at the end of the year is £ nil (31.3.25: £nil).

The capital commitments at the end of year are £ nil (31.3.25: £ nil)

Subsequent events have been evaluated till the date on which is the financial statements were issued. There are no subsequent events which have impact on the financial statements.