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Registration number: 12016573

Exp World UK Limited
Filleted Financial Statements
for the Year Ended 31 December 2024

Exp World UK Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 9

Exp World UK Limited

Company Information

Director | J Bramble

Registered office | c/o The Pavilions Computershare Governance Services Bridgewater Road Bristol BS13 8FD

Auditors | Bourner Bullock Chartered Accountants 114 St Martin's Lane Covent Garden London WC2N 4BE

Exp World UK Limited

(Registration number: 12016573)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Intangible assets | 6 | 12,571 | -
Tangible assets | 7 | 12,637 | 10,631
|  | 25,208 | 10,631
Current assets |  |  |
Debtors | 8 | 1,343,225 | 943,419
Cash at bank and in hand |  | 4,976,748 | 2,553,571
|  | 6,319,973 | 3,496,990
Creditors: Amounts falling due within one year | 9 | (6,222,781) | (3,688,710)
Net current assets/(liabilities) |  | 97,192 | (191,720)
Total assets less current liabilities |  | 122,400 | (181,089)
Provisions for liabilities |  | (4,666) | -
Net assets/(liabilities) |  | 117,734 | (181,089)
Capital and reserves |  |  |
Called up share capital | 10 | 1 | 1
Retained earnings |  | 117,733 | (181,090)
Shareholders' funds/(deficit) |  | 117,734 | (181,089)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 February 2026

......................................... J Bramble Director

Exp World UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1 | General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o The Pavilions Computershare Governance Services
Bridgewater Road
Bristol
BS13 8FD

Principal activity

The principal activity of the Company is estate agency business.

These financial statements were authorised for issue by the director on 16 February 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Exp World UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fittings, tools and equipment | Straight line, 25%-50%

Intangible assets

Intangible assets are initially recorded at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Website development cost has been capitalised as it is used the market Exp World UK Limited's services and list properties for which they currently act as agents. The cost is being amortised evenly over its useful economic life of 4 years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Software and web development | Straight line, 25%

Exp World UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Exp World UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Share based payments

The group operates an equity-settled, share-based payment programme, under which the entity receives services from agents and brokers which is part settled by issuing shares in the parent entity at a discount. The fair value of the services received is measured by reference to the commission payable being the fair value of the service provided.

3 | Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4 | Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 16 February 2026 was Russell Joseph, who signed for and on behalf of Bourner Bullock.

5 | Staff numbers

The average number of persons employed by the Company (including the director) during the year, was 17 (2023 - 4).

Exp World UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6 | Intangible assets

| Internally generated software development costs £ | Total £
Cost or valuation
At 1 January 2024 | 12,990 | 12,990
At 31 December 2024 | 12,990 | 12,990
Amortisation
Amortisation charge | 419 | 419
At 31 December 2024 | 419 | 419
Carrying amount
At 31 December 2024 | 12,571 | 12,571

7 | Tangible assets

| Office equipment £ | Total £
Cost or valuation
At 1 January 2024 | 29,152 | 29,152
Additions | 7,092 | 7,092
At 31 December 2024 | 36,244 | 36,244
Depreciation
At 1 January 2024 | 18,521 | 18,521
Charge for the year | 5,086 | 5,086
At 31 December 2024 | 23,607 | 23,607
Carrying amount
At 31 December 2024 | 12,637 | 12,637
At 31 December 2023 | 10,631 | 10,631

Exp World UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

8 | Debtors

Current |  | 2024 £ | 2023 £
Trade debtors |  | 1,215,295 | 650,537
Amounts owed by related parties |  | 1 | 1
Prepayments |  | 13,847 | 16,045
Other debtors |  | 114,082 | 276,836
|  | 1,343,225 | 943,419

9 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Trade creditors |  | 300,692 | 159,363
Amounts owed to Group undertakings and undertakings in which the Company has a participating interest |  | 4,294,345 | 2,965,952
Taxation and social security |  | 942,675 | 365,783
Accruals and deferred income |  | 624,026 | 148,183
Other creditors |  | 61,043 | 49,429
|  | 6,222,781 | 3,688,710

Amounts owed to group undertakings are interest free and are repayable on demand.

10 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 1 | 1 | 1 | 1

11 | Dividends

There were no dividends paid or proposed in either the current year or the previous year.

Exp World UK Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

12 | Parent and ultimate parent undertaking

The Company's immediate parent is Exp World Holdings Inc, incorporated in the United States of America.
These financial statements are available upon request from 2219 Rimland Drive, Suite 301, Bellingham, Washington, 98229, USA. Exp World Holdings Inc is the smallest and largest parent undertaking preparing consolidated financial statements.