Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 126

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 126
---
, 2024 and 2025      F-4   
  Consolidated Statements of Changes in Equity for the Years Ended April 30, 2023, 2024 and 2025                                  F-5   
  Consolidated Statements of Cash Flows for the Years Ended April 30, 2023, 2024 and 2025                                         F-6   
  Notes to the Consolidated Financial Statements                                                                                  F-8   

  F-1  

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

  To:      The                                     
           Magnitude                               

Opinion
on the Financial Statements

We have audited the accompanying consolidated statements of financial position
of Magnitude International Ltd and its subsidiaries (the “ Company”) as of April 30, 2024 and 2025, and the related consolidated
statements of profit or loss and other comprehensive income, changes in equity, and cash flows for each of the years in the three-years
period ended April 30, 2025, and the related notes (collectively referred to as the financial statements). In our opinion, the financial
statements present fairly, in all material respects, the financial position of the Company as of April 30, 2024 and 2025 and the results
of its operations and its cash flows for each of the years in the three-years period ended April 30, 2025, in conformity with International
Financial Reporting Standards as issued by the International Accounting Standards Board.

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U. S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company
is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits,
we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an