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Company No: 12451359 (England and Wales)

# IWBI (UK) LIMITED

### Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

IWBI (UK) LIMITED

## Financial Statements

For the financial year ended 31 December 2024

Contents

IWBI (UK) LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2024
IWBI (UK) LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

DIRECTORS | International Well Building Institute PBC
| R S Hodgdon
| P D Scialla

SECRETARY | Corporation Service Company (Uk) Limited

REGISTERED OFFICE | C/O Csc Cls (Uk) Limited 5 Churchill Place
| 10th Floor
| London
| E14 5HU
| United Kingdom

COMPANY NUMBER | 12451359 (England and Wales)

AUDITOR | Gravita Audit II Limited
| Statutory Auditor
| Aldgate Tower,
| 2 Leman Street,
| London
| E1 8FA

IWBI (UK) LIMITED

## BALANCE SHEET

As at 31 December 2024
IWBI (UK) LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
|  |  |  | Restated
Current assets |  |  |  |
Debtors | 3 | 251,084 |  | 123,500
Cash at bank and in hand |  | 15,375 |  | 41,143
|  | 266,459 |  | 164,643
Creditors: amounts falling due within one year | 4 | ( 196,022) |  | ( 91,112)
Net current assets |  | 70,437 |  | 73,531
Total assets less current liabilities |  | 70,437 |  | 73,531
Net assets |  | 70,437 |  | 73,531
Capital and reserves |  |  |  |
Called-up share capital | 5 | 1 |  | 1
Profit and loss account |  | 70,436 |  | 73,530
Total shareholder's funds |  | 70,437 |  | 73,531

Financial statements for 2023 were unaudited.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of IWBI (UK) Limited (registered number: 12451359) were approved and authorised for issue by the Board of Directors on 08 April 2026. They were signed on its behalf by:

P D Scialla Director |

IWBI (UK) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
IWBI (UK) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

IWBI (UK) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The Company's registered office is C/O Corporation Service Company (UK) Limited, 5 Churchill Place, 10th Floor, London, E14 5HU, United Kingdom.
The principal activity of the company is continued to be that of public relations and communication activities.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

##### Going concern

The directors have considered the company’s ability to continue as a going concern and, in doing so, have taken into account the financial support available from its parent company, International WELL Building Institute PBC. The parent company has confirmed its intention to continue to support the company for the foreseeable future, including meeting its liabilities as they fall due, should this be required.
After making appropriate enquiries, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

##### Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
· the amount of revenue can be measured reliably;
· it is probable that the company will receive the consideration due under the contract;
· the stage of completion of the contract at the end of the reporting period can be measured reliably; and
· the costs incurred and the costs to complete the contract can be measured reliably.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

##### 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 creditors: amounts falling due within one year.

##### 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 12 |  | 12

#### 3. Debtors

| 2024 |  | 2023
| £ |  | £
Amounts owed by Group undertakings | 84,527 |  | 84,527
Amounts owed by connected companies | 164,679 |  | 37,508
Other debtors | 1,878 |  | 1,465
| 251,084 |  | 123,500

#### 4. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Trade creditors | 14,523 |  | 8,221
Taxation and social security | 138,323 |  | 72,838
Other creditors | 43,176 |  | 10,053
| 196,022 |  | 91,112

The directors consider that the carrying value of trade creditors approximates to their fair value.

#### 5. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 0.01 each | 1 |  | 1

#### 6. Related party transactions

Other related party transactions

At the year end, the company was owed £84,527 (2023 - £84,527) by Our PlanetX LLC, a company owned by the ultimate controlling party, in respect of an interest free loan which is payable on demand.
At the year end, the company was owed £164,678 (2023 - £37,507) by International Well Building Inst PBC, an immediate parent, in respect of an interest free loan which is repayable on demand.

#### 7. Post reporting date events

Post year-end, an employment tribunal claim was issued seeking compensation. The matter remains ongoing and no reliable estimate of the financial effect is practicable; therefore, no provision has been recognised.

#### 8. Restatement

During preparation of the current year financial statements, the directors identified an error in the prior year where an amount of £1,413,161 had been incorrectly recognised as a credit within administrative expenses. This amount has been reclassified as Turnover to properly reflect its nature in accordance with the adopted accounting policies under FRS 102.

#### 9. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2024 was unqualified.

The audit report was signed by Daniel Howarth on behalf of Gravita Audit II Limited.

#### 10. Ultimate controlling party

The immediate parent undertaking is International Well Building Institute PBC, incorporated in United States. The registered address is 860 Washington St FL 5 New York, NY, 10014-1308 United States.
The ultimate controlling party is Delos Living LLC, incorporated in United States. The registered address and principal place of business is 860 Washington St FL 5 New York, NY, 10014-1308 United States.