Company registration number 07019754 (England and Wales)
INTELLIGENT MOTORING LTD
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
INTELLIGENT MOTORING LTD
COMPANY INFORMATION
Directors
Mr R Buckley
Mr WK Duffy
Mr DB Gerrans
Ms EM McClure Fisher
Ms S McClure Fisher
Ms N Waters
Company number
07019754
Registered office
Unit 6
60 Portman Road
Reading
UK
RG30 1EA
Auditor
Bright Grahame Murray
Emperor's Gate
114a Cromwell Road
Kensington
London
UK
SW7 4AG
INTELLIGENT MOTORING LTD
CONTENTS
Page
Strategic report
1 - 3
Directors' report
4 - 5
Independent auditor's report
6 - 8
Group statement of comprehensive income
9
Group balance sheet
10
Company balance sheet
11
Group statement of changes in equity
12
Company statement of changes in equity
13
Group statement of cash flows
14
Notes to the financial statements
15 - 31
INTELLIGENT MOTORING LTD
STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 1 -

The directors present the strategic report for the year ended 31 December 2025.

Review of the business

The year ended 31 December 2025 represented another successful year for Intelligent Motoring. The Group delivered impressive revenue growth whilst making significant strategic investments to support excellent customer service and future expansion.

Group turnover increased by 21% to £14.4 million (2024: £11.9 million), reflecting continued growth across the Group's warranty, insurance and digital motoring services together with the successful expansion of strategic commercial partnerships.

During the year, the Group significantly expanded its relationships with key partners including AA Ireland and Select Car Leasing, broadening its distribution capability across both the UK and Ireland.

The Group continued to invest in its proprietary technology platforms and operational capabilities, including internally developed software and additional employees, to improve operational efficiency, enhance the customer experience and support anticipated growth during 2026 and beyond.

Business performance

The Directors are pleased with the Group's performance during 2025. Revenue increased by 21% to £14.4 million (2024: £11.9 million), driven by continued growth across the Group's product portfolio and the expansion of strategic partnerships.

Average employee numbers increased from 83 to 97 as the Group continued to invest in technology, operational capability and customer service to support future growth.

The Directors are confident these investments have strengthened the Group's long-term competitive position and will provide a solid foundation for sustainable future growth.

Principal risks and uncertainties

The principal risks facing the company are set out below.

Regulatory and compliance risk

The Group operates within a highly regulated environment and is subject to the requirements of the Financial Conduct Authority and other regulatory bodies in both the UK and Ireland. Changes in regulation, product governance requirements or regulatory expectations could affect the Group's products, distribution channels and operating practices.

The Group mitigates this risk through good product design, ongoing investment in governance, compliance, product oversight and regular engagement with regulators, insurers and business partners.

Claims risk management

The Group's profitability depends upon appropriate pricing of its products and the accuracy of assumptions used when estimating future claims costs, cancellation rates and claims handling costs. Actual experience may differ from these estimates and could affect financial performance.

Management regularly reviews claims experience, reserving assumptions, product performance and emerging trends to ensure provisions remain appropriate and pricing continues to reflect expected claims costs.

Strategic partner risk

The Group works with a number of key strategic partners and insurers to distribute its products and services. Changes to commercial relationships, partner performance or underwriter capacity could impact future growth.

The Group seeks to mitigate this risk through maintaining mutually beneficial long-term relationships, diversifying its distribution channels and continuing to develop new strategic partnerships.

INTELLIGENT MOTORING LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 2 -

Technology and cyber security risk

The Group's operations depend on the continued availability, resilience, performance and security of its technology platforms and customer systems. Cyber threats, system failures or data breaches could disrupt operations and adversely affect customers and the Group's reputation.

The Group continues to invest in technology, cyber security, disaster recovery and business continuity arrangements to maintain resilient operations.

Liquidity and operational risk

The Group manages significant working capital balances and customer cash flows. Maintaining sufficient liquidity and effective operational controls is essential to supporting continued growth.

Management prepares regular cash flow forecasts, monitors working capital closely and maintains appropriate financial controls and governance processes to support the Group's operations.

People and talent risk

Continued growth depends upon attracting, developing and retaining skilled employees across technology, operations and customer service. Competition for experienced personnel may affect the Group's ability to deliver its strategic objectives.

The Group mitigates this risk through investment in recruitment, employee development, succession planning and maintaining a collaborative working environment.

Development and performance

The Directors remain confident in the Group's long-term prospects and expect the investments made during 2025 to support continued revenue growth and improved operational scalability.

Key priorities include:

- continuing to develop proprietary digital platforms and automation;

- expanding relationships with strategic partners across the UK and Ireland;

- increasing penetration within existing markets whilst selectively entering new distribution channels;

- enhancing customer experience through technology and data-driven service improvements; and

- maintaining strong governance, regulatory compliance and operational resilience.

The Directors believe the investments made during 2025 provide a strong foundation for continued revenue growth and improved operating leverage as the business scales.

Key performance indicators

Revenue for the year ending 31 December 2025 was £14,403,110 (2024: £11,890,964).

Group Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the year ending 31 December 2025 was £2,242,996 (2024: £3,043,911).

INTELLIGENT MOTORING LTD
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 3 -

On behalf of the board

Ms EM McClure Fisher
Director
20 July 2026
INTELLIGENT MOTORING LTD
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
- 4 -

The directors present their annual report and financial statements for the year ended 31 December 2025.

Principal activities

The principal activity of the company and group continued to be that of motoring services including the provision of warranty and insurance products throughout the UK and Ireland.

Results and dividends

The results for the year are set out on page 9.

Ordinary dividends were paid amounting to £1,623,926. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

Mr R Buckley
Mr WK Duffy
Mr DB Gerrans
Mr A Kelly
(Resigned 25 September 2025)
Ms EM McClure Fisher
Ms S McClure Fisher
Ms N Waters
Auditor

In accordance with the company's articles, a resolution proposing that Bright Grahame Murray be reappointed as auditor of the group will be put at a General Meeting.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and parent company, and of the profit or loss of the group for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable U nited K ingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

INTELLIGENT MOTORING LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 5 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

On behalf of the board
Ms EM McClure Fisher
Director
20 July 2026
INTELLIGENT MOTORING LTD
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF INTELLIGENT MOTORING LTD
- 6 -
Opinion

We have audited the financial statements of Intelligent Motoring Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 31 December 2025 and of the group's profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

INTELLIGENT MOTORING LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF INTELLIGENT MOTORING LTD
- 7 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

- We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations. Key laws and regulations that we identified included the UK Companies Act, tax legislation, employment legislation, health and safety and Financial Conduct Authority.

- We enquired of the directors, reviewed correspondence with HMRC and reviewed directors meeting minutes for evidence of non-compliance with relevant laws and regulations. We also reviewed controls the directors have in place to ensure compliance.

- We gained an understanding of the controls that the directors have in place to prevent and detect fraud. We enquired of the directors about any incidences of fraud that had taken place during the accounting period.

INTELLIGENT MOTORING LTD
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF INTELLIGENT MOTORING LTD
- 8 -

- The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. We identified the potential for fraud in the following areas: revenue recognition, related parties outside normal course of business and management override.

- We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations discussed above.

- We enquired of the directors about actual and potential litigation and claims.

- We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud.

- Reviewing correspondence between the Company and Financial Conduct Authority (FCA) in relation to compliance with laws and regulations.

- In addressing the risk of fraud due to management override of internal controls, we tested the appropriateness of journal entries and assessed whether the judgements made in making accounting estimates were indicative of a potential bias.

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or non-compliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the parent company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

William Meakin
Senior Statutory Auditor
For and on behalf of
Bright Grahame Murray
Chartered Accountants
Statutory Auditor
Emperor's Gate
114a Cromwell Road
Kensington
London
SW7 4AG
UK
21 July 2026
INTELLIGENT MOTORING LTD
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2025
- 9 -
2025
2024
Notes
£
£
Turnover
3
14,403,110
11,890,964
Cost of sales
(3,490,619)
(1,865,722)
Gross profit
10,912,491
10,025,242
Administrative expenses
(9,024,607)
(7,335,758)
Operating profit
4
1,887,884
2,689,484
Interest receivable and similar income
6
19,481
29,032
Interest payable and similar expenses
7
(5,161)
-
0
Profit before taxation
1,902,204
2,718,516
Tax on profit
8
(375,266)
(685,654)
Profit for the financial year
1,526,938
2,032,862
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
INTELLIGENT MOTORING LTD
GROUP BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 10 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
10
281,205
363,872
Other intangible assets
10
732,103
678,686
Total intangible assets
1,013,308
1,042,558
Tangible assets
11
129,721
136,691
1,143,029
1,179,249
Current assets
Debtors
14
5,803,215
4,857,981
Cash at bank and in hand
2,903,009
3,221,047
8,706,224
8,079,028
Creditors: amounts falling due within one year
15
(5,097,592)
(4,265,855)
Net current assets
3,608,632
3,813,173
Total assets less current liabilities
4,751,661
4,992,422
Creditors: amounts falling due after more than one year
16
-
0
(4,136)
Provisions for liabilities
Provisions
18
2,566,706
2,752,688
Deferred tax liability
20
192,399
146,054
(2,759,105)
(2,898,742)
Net assets
1,992,556
2,089,544
Capital and reserves
Called up share capital
22
500
500
Share premium account
16,269
16,269
Profit and loss reserves
1,975,787
2,072,775
Total equity
1,992,556
2,089,544

These financial statements have been prepared in accordance with the provisions relating to medium-sized groups.

The financial statements were approved by the board of directors and authorised for issue on 20 July 2026 and are signed on its behalf by:
20 July 2026
Ms EM McClure Fisher
Director
Company registration number 07019754 (England and Wales)
INTELLIGENT MOTORING LTD
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 11 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
12
36,229
36,229
Current assets
Cash at bank and in hand
11,344
4,661
Creditors: amounts falling due within one year
15
(20,000)
(17,700)
Net current liabilities
(8,656)
(13,039)
Net assets
27,573
23,190
Capital and reserves
Called up share capital
22
500
500
Share premium account
16,269
16,269
Profit and loss reserves
10,804
6,421
Total equity
27,573
23,190

As permitted by section 408 of the Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £1,628,309 (2024 - £2,658,213 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 20 July 2026 and are signed on its behalf by:
20 July 2026
Ms EM McClure Fisher
Director
Company registration number 07019754 (England and Wales)
INTELLIGENT MOTORING LTD
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 12 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2024
500
16,269
2,694,557
2,711,326
Year ended 31 December 2024:
Profit and total comprehensive income
-
-
2,032,862
2,032,862
Dividends
9
-
-
(2,654,644)
(2,654,644)
Balance at 31 December 2024
500
16,269
2,072,775
2,089,544
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
1,526,938
1,526,938
Dividends
9
-
-
(1,623,926)
(1,623,926)
Balance at 31 December 2025
500
16,269
1,975,787
1,992,556
INTELLIGENT MOTORING LTD
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2025
- 13 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 January 2024
500
16,269
2,852
19,621
Year ended 31 December 2024:
Profit and total comprehensive income for the year
-
-
2,658,213
2,658,213
Dividends
9
-
-
(2,654,644)
(2,654,644)
Balance at 31 December 2024
500
16,269
6,421
23,190
Year ended 31 December 2025:
Profit and total comprehensive income
-
-
1,628,309
1,628,309
Dividends
9
-
-
(1,623,926)
(1,623,926)
Balance at 31 December 2025
500
16,269
10,804
27,573
INTELLIGENT MOTORING LTD
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 14 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
24
2,191,250
2,929,255
Interest paid
(5,161)
-
0
Income taxes paid
(565,135)
(482,190)
Net cash inflow from operating activities
1,620,954
2,447,065
Investing activities
Purchase of intangible assets
(288,484)
(312,599)
Purchase of tangible fixed assets
(30,773)
(40,899)
(Issue) repayment of loans
-
1,004,980
Interest received
19,481
29,032
Net cash (used in)/generated from investing activities
(299,776)
680,514
Financing activities
Repayment of borrowings
(10,648)
(9,371)
Dividends paid to equity shareholders
(1,623,926)
(2,654,644)
Net cash used in financing activities
(1,634,574)
(2,664,015)
Net (decrease)/increase in cash and cash equivalents
(313,396)
463,564
Cash and cash equivalents at beginning of year
3,216,405
2,752,841
Cash and cash equivalents at end of year
2,903,009
3,216,405
Relating to:
Cash at bank and in hand
2,903,009
3,221,047
Bank overdrafts included in creditors payable within one year
-
(4,642)
INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
- 15 -
1
Accounting policies
Company information

Intelligent Motoring Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Unit 6, 60 Portman Road, Reading, UK, RG30 1EA.

The group consists of Intelligent Motoring Ltd and all of its subsidiaries.

1.1
Basis of preparation

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

The company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

Deferred tax is recognised on differences between the value of assets (other than goodwill) and liabilities recognised in a business combination accounted for using the purchase method and the amounts that can be deducted or assessed for tax, considering the manner in which the carrying amount of the asset or liability is expected to be recovered or settled. The deferred tax recognised is adjusted against goodwill or negative goodwill.

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 16 -
1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Intelligent Motoring Ltd together with all entities controlled by the parent company (its subsidiaries) and the group’s share of its interests in joint ventures and associates.

All financial statements are made up to 31 December 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.4
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the group and parent company ha ve adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Revenue

Turnover represents income receivable from the provision, administration and distribution of motoring-related insurance and warranty products, including commission, administration fees, cancellation fees and claims handling income.

Revenue is recognised when the company has satisfied its performance obligations under the relevant contractual arrangements and when the amount of revenue can be measured reliably and economic benefits are probable.

Where the company acts as agent for insurers or other product providers, revenue is recognised on a net basis, representing the commission or fee income earned by the company rather than the gross premium or policy amount collected on behalf of third parties. Amounts collected on behalf of insurers or clients are recognised within insurance broking assets and liabilities where the company controls the related cash, debtor or creditor balance pending settlement.

Cancellation-related income and costs are recognised by reference to expected cancellations and refunds based on historical experience and management’s best estimate at the reporting date.

1.6
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 17 -
1.7
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.8
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
33.33% reducing balance
Development costs
Straight line over useful economic life
Website development costs
25% Straight line
1.9
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:

Leasehold improvements
10% Straight line
Plant and equipment
25% Straight line
Fixtures and fittings
25% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

1.10
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 18 -

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

1.11
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.12
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.

1.13
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and 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 m ethod 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.

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 19 -
Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.14
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 20 -
1.15
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 group’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 if, and only if, there is 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.

1.16
Provisions

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.17
Employee benefits

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.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.18
Retirement benefits

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

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 21 -
1.19
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease d asset are consumed.

1.20
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.

1.21

Insurance debtors and creditors

The g roup acts as an agent of insurance companies in broking and administering insurance products and is liable as a principal for premiums due to those underwriters. The g roup has followed generally accepted accounting practice for insurance brokers by showing debtors, creditors and cash balances relating to insurance business as assets and liabilities of the g roup itself. Revenue is recognised on such agency arrangements as set out in the turnover accounting policy.

Where written risk transfer arrangements are in place, amounts are held as agent of the relevant insurer. Other amounts are accounted for in accordance with the applicable client money arrangements. The related balances are included within debtors, cash at bank and creditors as set out in note 19.

2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

In the course of preparing the financial statements, no critical accounting judgements have been made

in the process of applying the Company’s accounting policies, other than those involving estimations as

disclosed below, that have had a significant effect on the amounts recognised in the financial

statements.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Warranty risk fund provision

Management were required to consider the r isk of warranty policies sold and allocate a cost of fulfilling the policies. I n doing so they make assumptions about the future costs of handling claims and the expected rate of claims. Details of the provisions are set out in note 19.

Cancellation Provision

Management were required to consider the r isk of warranty policies being cancelled before completion of the policy. I n doing so they make assumptions about the future likelihood of cancellation and associated cost and the expected rate of claims. Details of the provisions are set out in note 19.

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
2
Judgements and key sources of estimation uncertainty
(Continued)
- 22 -
Claims handling provision

Management were required to consider the r isk of warranty policies sold and allocate a cost of handling claims. I n doing so they make assumptions about the future costs of handling claims and the expected rate of claims. Details of the provisions are set out in note 19.

3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Warranty services
8,710,079
7,955,689
Insurance services
3,594,665
2,297,328
Other motor related services
2,098,366
1,637,947
14,403,110
11,890,964
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
14,039,216
11,711,182
Europe
363,894
179,782
14,403,110
11,890,964
2025
2024
£
£
Other revenue
Interest income
19,481
29,032
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging:
Exchange losses
3,703
9,538
Fees payable to the group's auditor for the audit of the group's financial statements
13,350
15,600
Depreciation of tangible fixed assets
37,743
35,019
Amortisation of intangible assets
317,734
319,408
Operating lease charges
148,500
114,117
INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 23 -
5
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Management
6
6
-
-
Administration
91
77
-
-
Total
97
83
0
0

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
3,571,474
2,934,564
-
0
-
0
Social security costs
402,327
292,912
-
-
Pension costs
96,912
79,617
-
0
-
0
4,070,713
3,307,093
-
0
-
0
6
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
12,849
27,083
Other interest income
6,632
1,949
Total income
19,481
29,032
7
Interest payable and similar expenses
2025
2024
£
£
Other interest
5,161
-
INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 24 -
8
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
391,628
647,187
Adjustments in respect of prior periods
(107,370)
(78,594)
Total UK current tax
284,258
568,593
Foreign current tax on profits for the current period
44,663
-
0
Total current tax
328,921
568,593
Deferred tax
Origination and reversal of timing differences
21,896
16,799
Adjustment in respect of prior periods
24,449
100,262
Total deferred tax
46,345
117,061
Total tax charge
375,266
685,654

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
1,902,204
2,718,516
Expected tax charge based on the standard rate of corporation tax in the UK of 25% (2024: 25%)
475,551
679,629
Effects of:
Expenses that are not deductible in determining taxable profit
27,390
2,324
Utilisation of tax losses not previously recognised
-
0
(2,849)
Unutilised tax losses carried forward
-
0
5,556
Amortisation on assets not qualifying for tax allowances
-
0
20,667
Overseas tax rates
(44,663)
(41,341)
Tax under/(over) provided in prior years
(107,370)
(78,594)
Deferred tax adjustments in respect of prior years
24,449
100,262
Taxation charge in the financial statements
375,357
685,654
Taxation charge per the financial statements
375,266
685,654
Reconciliation - the current year tax charge does not reconcile to the above analysis. Please review figures in the database.
91
-
INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 25 -
9
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Final paid
1,623,926
2,654,644
10
Intangible fixed assets
Group
Goodwill
Software
Development costs
Website development costs
Total
£
£
£
£
£
Cost
At 1 January 2025
826,668
54,810
1,535,826
50,175
2,467,479
Additions - internally developed
-
0
-
0
288,484
-
0
288,484
At 31 December 2025
826,668
54,810
1,824,310
50,175
2,755,963
Amortisation and impairment
At 1 January 2025
462,796
54,810
857,140
50,175
1,424,921
Amortisation charged for the year
82,667
-
0
235,067
-
0
317,734
At 31 December 2025
545,463
54,810
1,092,207
50,175
1,742,655
Carrying amount
At 31 December 2025
281,205
-
0
732,103
-
0
1,013,308
At 31 December 2024
363,872
-
0
678,686
-
0
1,042,558
The company had no intangible fixed assets at 31 December 2025 or 31 December 2024.
INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 26 -
11
Tangible fixed assets
Group
Leasehold improvements
Plant and equipment
Fixtures and fittings
Total
£
£
£
£
Cost
At 1 January 2025
77,378
514
233,290
311,182
Additions
2,251
-
0
28,522
30,773
At 31 December 2025
79,629
514
261,812
341,955
Depreciation and impairment
At 1 January 2025
16,697
514
157,280
174,491
Depreciation charged in the year
7,832
-
0
29,911
37,743
At 31 December 2025
24,529
514
187,191
212,234
Carrying amount
At 31 December 2025
55,100
-
0
74,621
129,721
At 31 December 2024
60,681
-
0
76,010
136,691
The company had no tangible fixed assets at 31 December 2025 or 31 December 2024.
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
36,229
36,229
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 January 2025 and 31 December 2025
36,229
Carrying amount
At 31 December 2025
36,229
At 31 December 2024
36,229
13
Subsidiaries

Details of the company's subsidiaries at 31 December 2025 are as follows:

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
13
Subsidiaries
(Continued)
- 27 -
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Indirect
Motoreasy Limited
Unit 6 60 Portman Road, Reading, Berkshire, England, RG30 1EA
Ordinary shares
100.00
-
Motoreasy Services Limited
Unit 6 60 Portman Road, Reading, Berkshire, England, RG30 1EA
Ordinary shares
100.00
-
Warranty Assist LTD
Unit 6 60 Portman Road, Reading, Berkshire, England, RG30 1EA
Ordinary shares
100.00
-
Minster Software Limited
Unit 6 60 Portman Road, Reading, Berkshire, England, RG30 1EA
Ordinary shares
100.00
-
Motokiki LTD
Unit 6 60 Portman Road, Reading, Berkshire, England, RG30 1EA
Ordinary shares
100.00
-
Motor Angel Limited
Unit 6 60 Portman Road, Reading, Berkshire, England, RG30 1EA
Ordinary shares
100.00
-
Warranty Assist Ireland Limited
25 Bank Place Mallow Co Cork Ireland
Ordinary shares
0
100.00

The following subsidiaries are entitled to exemption from the audit requirements under section 479A of the Companies Act 2006 relating to subsidiary companies. A guarantee has been provided by the parent and can be found at Companies House.

Name of undertaking Registered Number

Minster Software Limited 09669182

Warranty Assist LTD 06763903

Motokiki LTD 12486091

Motor Angel Limited 08199729

14
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
5,470,085
4,546,853
-
0
-
0
Corporation tax recoverable
20,260
-
0
-
0
-
0
Other debtors
111,760
135,472
-
0
-
0
Prepayments and accrued income
201,110
175,656
-
0
-
0
5,803,215
4,857,981
-
-
INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 28 -
15
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
17
-
0
4,642
-
0
-
0
Other borrowings
17
4,136
10,648
-
0
-
0
Trade creditors
701,065
573,664
-
0
-
0
Corporation tax payable
121,734
337,688
-
0
-
0
Other taxation and social security
456,886
390,604
-
0
-
0
Other creditors
3,229,522
2,174,878
-
0
1,000
Accruals and deferred income
584,249
773,731
20,000
16,700
5,097,592
4,265,855
20,000
17,700
16
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Other borrowings
17
-
0
4,136
-
0
-
0
17
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank overdrafts
-
0
4,642
-
0
-
0
Other loans
4,136
14,784
-
0
-
0
4,136
19,426
-
-
Payable within one year
4,136
15,290
-
0
-
0
Payable after one year
-
0
4,136
-
0
-
0

The long term is a bounce back loan obtained in May 2020. Interest is charged at 2.5% and the loan is due to be fully repaid in 2026. The loan is unsecured.

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 29 -
18
Provisions for liabilities
Group
Company
2025
2024
2025
2024
£
£
£
£
Other provisions
279,532
287,036
-
-
Claims handling provision
375,033
319,541
-
-
Cancellation provision
795,149
659,412
-
-
Risk fund provision
1,116,992
1,486,699
-
-
2,566,706
2,752,688
-
-
Movements on provisions:
Other provisions
Claims handling provision
Cancellation provision
Risk fund provision
Total
Group
£
£
£
£
£
At 1 January 2025
203,361
319,541
686,244
1,486,699
2,695,845
Additional provisions in the year
76,171
55,492
108,905
1,280,440
1,521,008
Reversal of provision
-
-
-
(813,096)
(813,096)
Utilisation of provision
-
-
-
(837,051)
(837,051)
At 31 December 2025
279,532
375,033
795,149
1,116,992
2,566,706

Reversal of provisions relate to warranty policies which have expired by the year end.

19
Insurance broking assets and liabilities
Included in these financial statements are the following balances which are held by the group as an agent and which represent premiums due to underwriters or claims payable to clients.
2025
2024
Debtors
1,324,003
1,068,639
Cash at bank and in hand
1,866,516
556,218
Creditors
(3,190,519)
(1,624,857)
-
-
INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 30 -
20
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company:

Liabilities
Liabilities
2025
2024
Group
£
£
Accelerated capital allowances
193,724
149,763
Retirement benefit obligations
(1,325)
(3,709)
192,399
146,054
The company has no deferred tax assets or liabilities.
Group
Company
2025
2025
Movements in the year:
£
£
Liability at 1 January 2025
146,054
-
Charge to profit or loss
46,345
-
Liability at 31 December 2025
192,399
-
21
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
96,912
79,617

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

22
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
500
500
500
500
23
Directors' transactions

Dividends totalling £1,623,926 (2024 - £2,594,645) were paid in the year in respect of shares held by the company's directors.

INTELLIGENT MOTORING LTD
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
- 31 -
24
Cash generated from group operations
2025
2024
£
£
Profit after taxation
1,526,938
2,032,862
Adjustments for:
Taxation charged
375,266
685,654
Finance costs
5,161
-
0
Investment income
(19,481)
(29,032)
Amortisation and impairment of intangible assets
317,734
319,408
Depreciation and impairment of tangible fixed assets
37,743
35,019
Decrease in provisions
(185,982)
(911,880)
Movements in working capital:
(Increase)/decrease in debtors
(924,974)
699,360
Increase in creditors
1,058,845
97,864
Cash generated from operations
2,191,250
2,929,255
25
Analysis of changes in net funds - group
1 January 2025
Cash flows
31 December 2025
£
£
£
Cash at bank and in hand
3,221,047
(318,038)
2,903,009
Bank overdrafts
(4,642)
4,642
-
0
3,216,405
(313,396)
2,903,009
Borrowings excluding overdrafts
(14,784)
10,648
(4,136)
3,201,621
(302,748)
2,898,873
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