Westcor International Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Commission income is recognised at the point that the Company has fulfilled its obligations to the insurer through the arrangement of an underlying insurance policy, being at the date the underlying policy takes effect.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are IT Development costs. They are amortised to profit and loss account, along with any impairment losses, over its estimated economic life of 3 years, starting from the date the development goes live.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings	3 Years
Computer Equipment	3 Years

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held with banks. Amounts which are ring fenced and held for the benefit of the underwriters in trust accounts are excluded from the Company’s assets as they are not available for the benefit of the Company.

2.9. Other accounting policies

The Company acts as a agent in broking the insurable risk of its clients and, generally, is not liable as principal for premiums due to underwriters or for claims payable to clients. Notwithstanding the Company's legal relationships with clients and underwriters and since, in practice premium and claims monies are usually accounted for by insurance intermediaries, the Company has followed accepted accounting practice by showing cash, debtors and creditors relating to insurance business as assets and liabilities of the Company itself. The Company has taken advantage of the amendment to Financial Reporting Standard No 5 ' Reporting The Substance of Transactions', and has continued to offset debtors and creditors from insurance broking transactions where such treatment reflects the normal method of settlement

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Westcor International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

3. Average Number of Employees

Average number of employees, including directors, during the year was: 14 (2024: 13)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2025	514,682

As at 31 December 2025	514,682

Amortisation
As at 1 January 2025	122,671
Provided during the period	66,217

As at 31 December 2025	188,888

Net Book Value
As at 31 December 2025	325,794

As at 1 January 2025	392,011

5. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2025	-	17,171	17,171
Additions	599	7,768	8,367

As at 31 December 2025	599	24,939	25,538

Depreciation
As at 1 January 2025	-	11,095	11,095
Provided during the period	16	5,218	5,234

As at 31 December 2025	16	16,313	16,329

Net Book Value
As at 31 December 2025	583	8,626	9,209

As at 1 January 2025	-	6,076	6,076

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Westcor International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2025	22,773

As at 31 December 2025	22,773

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	22,773

As at 1 January 2025	22,773

Investment is in WIL Specialty Insurance Limited, a wholly owned subsidiary registered in Ireland (Company Number 14718651)

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	358,863	265,409
Other debtors	368,614	93,739

	727,477	359,148

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	13,357	14,296
Other creditors	633,878	542,020
Taxation and social security	342,885	376,949

	990,120	933,265

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Amounts owed to participating interests	96,701	96,701

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Westcor International Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	981,363	981,363

11. Related Party Transactions

WIL Speciality Insurance Limited

100% owned subsidiary

Included in other debtors are loans of £233,867.90

Westcor Land Title Insurance Company

Ultimate Parent Undertaking of the Company

Loan made to the Company in a prior year with an outstanding balance of £96,701 at the year end (2024: £96,701)

Expenditure to related party

Company under control of a director

Value of services provided from related party - £114,000 (2024: £113,167)

12. Ultimate Parent Undertaking and Controlling Party

The company's immediate parent undertaking is Westcor International Holdings Inc, which is incorporated in Florida, US. The ultimate controlling party is Atairos Group Inc, which is incorporated in the Cayman Islands.

The parent undertaking for which consolidated financial statements are prepared, is Westcor Land Title Insurance Company, which is incorporated in Florida. The consolidated financial statements can be obtained from the secretary, 875 Concourse Parkway South, Suite 200, Maitland , Florida , 32751.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		325,794		392,011
Tangible Assets	5		9,209		6,076
Investments	6		22,773		22,773

			357,776		420,860
CURRENT ASSETS
Debtors	7	727,477		359,148
Cash at bank and in hand		4,737,126		3,633,347

		5,464,603		3,992,495
Creditors: Amounts Falling Due Within One Year	8	(990,120 )		(933,265 )

NET CURRENT ASSETS (LIABILITIES)			4,474,483		3,059,230

TOTAL ASSETS LESS CURRENT LIABILITIES			4,832,259		3,480,090

Creditors: Amounts Falling Due After More Than One Year	9		(96,701 )		(96,701 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			-		(1,496 )

NET ASSETS			4,735,558		3,381,893

CAPITAL AND RESERVES
Called up share capital	10		981,363		981,363
Profit and Loss Account			3,754,195		2,400,530

SHAREHOLDERS' FUNDS			4,735,558		3,381,893