ERE Property Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—10

1. General Information

ERE Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05224504 . The registered office is Suite M.03 Department Leeds Dock 4, The Boulevard, Leeds, LS10 1PZ.

The principal activity is that of UK and international real estate agents.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

These financial statements have been presented in pound sterling which is the functional currency of the Company, and rounded to the nearest £.

The following principal accounting policies have been applied:

2.2. Going Concern Disclosure

The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the Company to continue as a going concern. The Company has the financial support of group undertakings which ensures that the Company is able to meet all its working capital requirement.

2.3. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents commissions receivable due from the sale of property.

Commission income is recognised in accordance with the contract terms on entitlement to income, this being on receipt by the developer of installments due from customers.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Website - 3 years

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold	10%
Fixtures & Fittings	33%
Computer Equipment	33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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ERE Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Leasing and Hire Purchase Contracts

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.7. Financial Instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

...CONTINUED

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ERE Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Financial Instruments - continued

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

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

2.8. Foreign Currencies

Functional and presentation currency

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.9. Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.10. Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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ERE Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.11. Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.12. Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.13. Further accounting policies

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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.

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.

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.

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 23 (2024: 23)

4. Tax on Profit

	2025	2024
	£	£
Current tax
UK Corporation Tax	(128,413 )	150,858
Deferred Tax
Deferred taxation	(3,164 )	9,075


Total tax charge for the period	(131,577 )	159,933

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ERE Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

	2025	2024
	£	£
Profit before tax	(529,656)	618,940

Breakdown of tax charge is:
Tax on profit at 25% (UK standard rate)	(132,414 )	154,735
Expenses not deductible for tax purposes	1,032	4,519
Capital allowances	-	679
Deferred tax from unrecognised timing difference from a prior period	(195 )	-

Total tax charge for the period	(131,577)	159,933

5. Intangible Assets

	Other
	£
Cost
As at 1 January 2025	37,279

As at 31 December 2025	37,279

Amortisation
As at 1 January 2025	8,648
Provided during the period	12,426

As at 31 December 2025	21,074

Net Book Value
As at 31 December 2025	16,205

As at 1 January 2025	28,631

6. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 January 2025	14,452	25,030	57,383	96,865
Additions	-	171	21,327	21,498

As at 31 December 2025	14,452	25,201	78,710	118,363

Depreciation
As at 1 January 2025	14,452	22,879	36,466	73,797
Provided during the period	-	1,090	15,273	16,363

As at 31 December 2025	14,452	23,969	51,739	90,160

Net Book Value
As at 31 December 2025	-	1,232	26,971	28,203

As at 1 January 2025	-	2,151	20,917	23,068

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ERE Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,828	202,351
Prepayments and accrued income	66,560	56,941
Other debtors	16,147	11,015
Corporation tax recoverable assets	52,555	-
Net wages	2,301	-
Amounts owed by group undertakings	-	745,416
Amounts owed by entities under common control	721,543	-

	860,934	1,015,723

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	93,716	57,961
Bank loans and overdrafts	25,000	50,000
Corporation tax	-	150,858
Other taxes and social security	29,532	19,346
Other creditors	123,065	52,635
Accruals and deferred income	31,362	115,746
Directors' loan accounts	-	2,882
Amounts owed to group undertakings	-	498,557
Amounts owed to parent undertaking	794,523	-
Amounts owed to entities under common control	-	294,061

	1,097,198	1,242,046

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

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

	2025	2024
	£	£
Bank loans	-	25,000

The bank loan is secured by the UK Government under the Coronavirus Business Interruption Loan Scheme.

10. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Other timing differences	9,434	12,598

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ERE Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	300	300

12. Other Commitments

At 31 December 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

	2025	2024
	£	£
Not later than one year	-	111,801
Later than one year and not later than five years	-	30,149

	-	141,950

On 16 January 2026, the Company entered into a workspace agreement for office premises at Department, Leeds Dock, Leeds, for the period from 1 April 2026 to 31 May 2028. The agreement is a licence to occupy and does not constitute a lease. Total contractual fees payable over the term amount to £225,200 (excluding VAT), comprising workspace fees of £222,600 and parking charges of £2,600.

As the agreement was entered into after the reporting date, it did not give rise to a commitment at 31 December 2025 and is not included in the amounts disclosed above.

13. Pension Commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge represents contributions payable by the Company to the fund and amounted to £43,252 (2024: £176,431).

Contributions totalling £4,982 (2024: £Nil) were payable to the fund at the reporting date and are included in creditors.

14. Reserves

	Profit and Loss Account
	£
As at 1 January 2025	341,543
Loss for the year and total comprehensive income	(398,079 )

As at 31 December 2025	(56,536 )

Profit and loss account

This reserve represents cumulative profits and losses, less any dividends declared.

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ERE Property Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

15. Related Party Transactions

The Company has taken advantage of the exemption conferred by FRS 102 paragraph 33.1A and has not disclosed transactions and outstanding balances with its fellow subsidiary undertakings or parent undertaking on the basis that all the relevant companies are directly or indirectly wholly owned by ERE Property Holdings Limited.

At the year end, the directors owed the Company £850 (2024: the Company owed the directors £2,882). This is included in other debtors (2024: creditors). The directors’ loan accounts where these balances have arisen are active accounts with both payments and receipts as such balances are always repayable on demand. No interest is charged on outstanding balances.

During the year, management charges of £165,847 were paid to entities under common control (2024: £741,374 paid). Business support and marketing services income of £887,390 was received from entities under common control (2024: £Nil). Details of the amounts owed to and by entities under common control can be found in notes 8 and 7 respectively. These balances are unsecured, interest free and repayable on demand.

16. Ultimate Controlling Party

The Company's immediate parent company is ERE Property Holdings Limited, a company registered in England and Wales. Its registered office is Suite M.03 Department Leeds Dock 4, The Boulevard, Leeds,England, LS10 1PZ.

On 17 December 2025, ERE Property Holding Limited acquired the entire share capital of ERE Property Holdings Limited. ERE Property Holding Limited is a private company limited by shares, incorporated in the Abu Dhabi Global Market, United Arab Emirates, with registered number 18903. From that date, ERE Property Holding Limited is the Company's ultimate parent company. Its registered office is Suite 204, Floor 15, Al Sarab Tower, ADGM Square, Al Maryah Island, Abu Dhabi, United Arab Emirates.

No consolidated financial statements are prepared.

The ultimate controlling party is considered to be the directors of the Company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	5		16,205		28,631
Tangible Assets	6		28,203		23,068

			44,408		51,699
CURRENT ASSETS
Debtors	7	860,934		1,015,723
Cash at bank and in hand		145,054		554,065

		1,005,988		1,569,788
Creditors: Amounts Falling Due Within One Year	8	(1,097,198 )		(1,242,046 )

NET CURRENT ASSETS (LIABILITIES)			(91,210 )		327,742

TOTAL ASSETS LESS CURRENT LIABILITIES			(46,802 )		379,441

Creditors: Amounts Falling Due After More Than One Year	9		-		(25,000 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	10		(9,434 )		(12,598 )

NET (LIABILITIES)/ASSETS			(56,236 )		341,843

CAPITAL AND RESERVES
Called up share capital	11		300		300
Profit and Loss Account			(56,536 )		341,543

SHAREHOLDERS' FUNDS			(56,236)		341,843