REGISTERED NUMBER: 05412446 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

EXPLORE GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Isaacs

M C Lee

O Ouazzani

S Rahmani

SECRETARY:

S Rahmani

REGISTERED OFFICE:

Unit 5 The Aquarium

1-7 King Street

Reading

Berkshire

RG1 2AN

REGISTERED NUMBER:

05412446 (England and Wales)

ACCOUNTANTS:

Cooper Parry Advisory Limited

First Floor, Davidson House

Forbury Square

Reading

Berkshire

RG1 3EU

FIXED ASSETS

Tangible assets

4

495,838

506,956

Investments

5

1,646

1,646

497,484

508,602

CURRENT ASSETS

Debtors

6

1,987,644

1,930,314

Cash at bank

138,056

316,106

2,125,700

2,246,420

CREDITORS

Amounts falling due within one year

7

1,378,294

904,817

NET CURRENT ASSETS

747,406

1,341,603

TOTAL ASSETS LESS CURRENT LIABILITIES

1,244,890

1,850,205

CREDITORS

Amounts falling due after more than one year

8

105,115

179,425

NET ASSETS

1,139,775

1,670,780

CAPITAL AND RESERVES

Called up share capital

11,597

11,597

Share premium

44,948

44,948

Retained earnings

1,083,230

1,614,235

1,139,775

1,670,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

S Rahmani - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Explore Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

The group sells through the provision of services to the sales, marketing and learning & development functions of global organisations. These four competencies comprise: Client Services & Support, Creative Agency, Technology Practice and Learning and Development Practice. When the outcome of a transaction for the rendering of service can be estimated reliably the company recognises revenue in the reporting period in which the services are rendered.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings

Not provided

Improvements to property

15 % on reducing balance

Fixtures and fittings

25% on cost

Computers

Straight line over 3-5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investments in subsidiaries

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Financial instruments

The company has elected to apply the provisions of Section 11 ’Basic Financial Instruments’ and Section 12 ’Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and Liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss

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.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they

fall due.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2023 - 45 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Improvements

and

Computer

property

to property

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 December 2023

and 30 November 2024

541,753

119,884

1,433

67,929

730,999

DEPRECIATION

At 1 December 2023

85,743

80,209

776

57,315

224,043

Charge for year

-

5,951

359

4,808

11,118

At 30 November 2024

85,743

86,160

1,135

62,123

235,161

NET BOOK VALUE

At 30 November 2024

456,010

33,724

298

5,806

495,838

At 30 November 2023

456,010

39,675

657

10,614

506,956

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2023

and 30 November 2024

1,646

NET BOOK VALUE

At 30 November 2024

1,646

At 30 November 2023

1,646

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,389,547

1,473,152

Amounts owed by group undertakings

-

52,175

Other debtors

598,097

404,987

1,987,644

1,930,314

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

73,363

71,670

Trade creditors

341,137

202,749

Amounts owed to group undertakings

1,646

1,646

Taxation and social security

96,268

151,879

Other creditors

865,880

476,873

1,378,294

904,817

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

105,115

179,425

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

276,640

276,640

Between one and five years

23,053

299,693

299,693

576,333

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

178,478

251,095

Invoice discounting

432,337

133,112

610,815

384,207

Bank loans and invoice discounting are secured by way of fixed and floating charges over the company's assets.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12.	CALLED UP SHARE CAPITAL

2024

2023

2024

2023

Ordinary share capital

Number

Number

£

£

Issued and fully paid

Ordinary A of 0.1p

5,000,000

5,000,000

5,000

5,000

Ordinary B of 0.1p

5,000,000

5,000,000

5,000

5,000

Ordinary C of 0.1p

1,300,000

1,300,000

1,300

1,300

Ordinary D of 0.1p

297,368

297,368

297.368

297.368

11,597,370

11,597,370

11,597

11,597