Company: MAGH
Filing Date: 2025-09-15
Form Type: 20-F
Source: 0001493152-25-013424
Chunk: 127

Company: Magnitude International Ltd
Filing Date: 2025-09-15
Form: 20-F
Item: Item 19
Chunk 127
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 opinion
on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our
audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error
or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding
the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant
estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits
provide a reasonable basis for our opinion.

WWC,
P. C. 1171

We
have served as the Company’s auditor since 2024.

San
Mateo, California

September 15, 2025

  F-2  

MAGNITUDE INTERNATIONAL LTD AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

AS OF APRIL 30, 2024 AND 2025

                                                             Note                                                     
                                                                               SGD              SGD              USD  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                                                              
  Non-current assets                                                                                                  
  Property, plant and equipment                                 4          673,135          605,554          463,884  
  Financial assets at fair value through profit or loss         5          439,817          440,888          337,742  
  Total non-current assets                                               1,112,952        1,046,442          801,626  
  Current assets                                                                                                      
  Deferred initial public offering costs                        6                -        1,049,720          804,139  
  Trade and other receivables                                   7        1,790,384        1,457,596        1,116,590  
  Contract assets                                               8        3,418,818        4,192,619        3,211,750  
  Cash and cash equivalents                                     9        1,868,461          759,891          582,113  
  Total current assets                                                   7,077,663        7,459,826        5,714,592  
  Total assets                                                           8,190,615        8,506,268        6,516,218  
  EQUITY AND LIABILITIES                                                                                              
  Equity