Company No: 12981405 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Intangible assets	3	6,227,490		5,074,126
Investments	4	8		8
		6,227,498		5,074,134
Current assets
Debtors	5	1,617,527		495,599
Cash at bank and in hand		1,945,494		51,489
		3,563,021		547,088
Creditors: amounts falling due within one year	6	( 1,020,243)		( 794,787)
Net current assets/(liabilities)		2,542,778		(247,699)
Total assets less current liabilities		8,770,276		4,826,435
Net assets		8,770,276		4,826,435
Capital and reserves
Called-up share capital	7	86,475		75,341
Share premium account		14,108,028		9,194,260
Profit and loss account		( 5,424,227 )		( 4,443,166 )
Total shareholders' funds		8,770,276		4,826,435

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These 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 Profit and Loss Account has not been delivered.

The financial statements of Exurban Limited (registered number: 12981405) were approved and authorised for issue by the Board of Directors on 27 April 2026. They were signed on its behalf by:

S Boel Director

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

Exurban 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 address of the Company's registered office is C/O Arch Law Huckletree Bishopsgate, 8 Bishopsgate, London, EC2N 4BQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs

20 years straight line

Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the directors are satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is between three and five years. Provision is made for any impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

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
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

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

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		6

3. Intangible assets

	Development costs		Total
	£		£
Cost
At 01 January 2025	5,818,275		5,818,275
Additions	1,465,326		1,465,326
At 31 December 2025	7,283,601		7,283,601
Accumulated amortisation
At 01 January 2025	744,149		744,149
Charge for the financial year	311,962		311,962
At 31 December 2025	1,056,111		1,056,111
Net book value
At 31 December 2025	6,227,490		6,227,490
At 31 December 2024	5,074,126		5,074,126

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 January 2025	8
At 31 December 2025	8
Carrying value at 31 December 2025	8
Carrying value at 31 December 2024	8

5. Debtors

	2025		2024
	£		£
Trade debtors	656,511		204,223
Amounts owed by Group undertakings	689,435		0
Corporation tax	239,385		267,885
Other debtors	32,196		23,491
	1,617,527		495,599

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank overdrafts	666		0
Trade creditors	113,532		171,416
Amounts owed to Group undertakings	800,616		436,597
Other taxation and social security	0		4,952
Other creditors	105,429		181,822
	1,020,243		794,787

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
5,001 Ordinary B shares of £ 1.00 each	5,001		5,001
81,474 Ordinary A shares of £ 1.00 each (2024: 70,340 shares of £ 1.00 each)	81,474		70,340
	86,475		75,341