Exim Exchange Company (U.K.) Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—6

1. General Information

Exim Exchange Company (U.K.) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06814788 . The registered office is 5 Old Montague Street, London, E1 5NL.

2. Accounting Policies

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.

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.

This 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:

- 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 each category of financial instrument; 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.

The financial statements of the company are consolidated in the financial statements of statements of Export Import Bank of Bangladesh Limited. These consolidated financial statements are available from its registered office. "EXIM Tower" Plot # 15, Road # 15, Block CWS (C), Bir Uttom A. K. Khondokar Road, Gulshan 1, Dhaka- 1212, Bangladesh.

2.2. Significant judgements and estimations

In the application of the company’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.

2.3. 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:

Commission income

Income from remittance services is recognised when a customer gives instructions to the Company to make a remittance on their behalf.

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Exim Exchange Company (U.K.) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.4. Tangible Fixed Assets and Depreciation

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

Plant & Machinery	25% Reducing balance
Fixtures & Fittings	25% Reducing balance

2.5. Financial Instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables 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.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

2.6. Foreign Currencies

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non - monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

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Exim Exchange Company (U.K.) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Taxation

Income 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 income statement 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 company’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 income statement, 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 when the company has 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.

2.8. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9. Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company 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 is 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.

2.10. Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11. Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.12. Employee benefits

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

2.13. Leases

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 leases asset are consumed.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2024: 5)

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Exim Exchange Company (U.K.) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 January 2025	24,362	8,762	33,124
Additions	784	-	784

As at 31 December 2025	25,146	8,762	33,908

Depreciation
As at 1 January 2025	20,702	7,395	28,097
Provided during the period	1,111	342	1,453

As at 31 December 2025	21,813	7,737	29,550

Net Book Value
As at 31 December 2025	3,333	1,025	4,358

As at 1 January 2025	3,660	1,367	5,027

5. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	10,500	10,500

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	602,221	564,533

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	450,000	450,000

8. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	33,600	29,550

	33,600	29,550

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Exim Exchange Company (U.K.) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Related Party Transactions

During the year the company entered into the following transactions with related parties:

All of the Company's remittances are routed through its parent entity Export Import Bank of Bangladesh Limited as part of the normal business cycles, these transactions are at arms length, the amounts remitted have no transactional value and are purely for settlement. All commission income is earned from the remitters. There is a net position at the year end included in Other Creditors due for settlement of £602,221, (2024 - £564,533). The auditors fees of £4500 are settled by the parent entity directly. Included in Bank balances is an amount of £500,000 held with Head Office and there is a corresponding overdraft liability of £500,000 included in the net position included in Other Creditors.

10. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11. Ultimate Parent Undertaking and Controlling Party

The company's immediate and ultimate parent undertaking is Export Import Bank of Bangladesh Limited . Export Import Bank of Bangladesh Limited was incorporated in Bangladesh. Copies of the group accounts may be obtained from the secretary, Head "EXIM Tower" Plot # 15, Road # 15, Block CWS (C), Bir Uttom A. K. Khondokar Road, Gulshan 1, Dhaka- 1212, Bangladesh . The ultimate controlling party is Export Import Bank of Bangladesh Limited who controls 100% of the shares of Exim Exchange Company (U.K.) Limited .

12. Audit Information

The auditor's report on the accounts of Exim Exchange Company (U.K.) Limited for the year ended 31 December 2025 was unqualified.

The auditor's report was signed by Robert Green (Senior Statutory Auditor) for and on behalf of Green & Peter (UK) , Statutory Auditor.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		4,358		5,027

			4,358		5,027
CURRENT ASSETS
Debtors	5	10,500		10,500
Cash at bank and in hand		773,524		716,244

		784,024		726,744
Creditors: Amounts Falling Due Within One Year	6	(602,221 )		(564,533 )

NET CURRENT ASSETS (LIABILITIES)			181,803		162,211

TOTAL ASSETS LESS CURRENT LIABILITIES			186,161		167,238

NET ASSETS			186,161		167,238

CAPITAL AND RESERVES
Called up share capital	7		450,000		450,000
Profit and Loss Account			(263,839 )		(282,762 )

SHAREHOLDERS' FUNDS			186,161		167,238