| REGISTERED NUMBER: |
| Exail Ltd |
| Audited Financial Statements for the Year Ended 31st December 2024 |
| REGISTERED NUMBER: |
| Exail Ltd |
| Audited Financial Statements for the Year Ended 31st December 2024 |
| Exail Ltd (Registered number: 05256818) |
| Contents of the Financial Statements |
| for the Year Ended 31st December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Exail Ltd |
| Company Information |
| for the Year Ended 31st December 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditors |
| The Engine House |
| 77 Station Road |
| Petersfield |
| Hampshire |
| GU32 3FQ |
| Exail Ltd (Registered number: 05256818) |
| Balance Sheet |
| 31st December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Exail Ltd (Registered number: 05256818) |
| Notes to the Financial Statements |
| for the Year Ended 31st December 2024 |
| 1. | STATEMENT OF COMPLIANCE |
| Exail Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is The Engine House, 77 Station Road, Petersfield, Hampshire, GU32 3FQ. The registration number is 05256818. |
| These financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest pound. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 |
| "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions if Section 1A "Small Entities" and the Companies Act 2006. |
| The financial statements have been prepared under the historical cost convention |
| Turnover |
| Turnover represents commissions and sales of navigation, maritime robotics and advanced technologies. It is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Land and buildings | - |
| Plant and machinery etc | - |
| Fixtures and fittings are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Any gain or loss on disposal of an item of fixtures and fittings are determined by comparing the proceeds from disposal with the carrying amount of fixtures and fittings, and is recognised within other income/expenses in profit or loss. |
| Stocks |
| Finished goods have been valued at the lower of moving average price and net realisable value. Moving average price is the total cost incurred in bringing each product to its present location and condition divided by the number of units held. Net realisable value is based on the estimated normal selling price, less further costs expected to be incurred to completion and disposal. |
| Exail Ltd (Registered number: 05256818) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. |
| Cash and cash equivalents |
| These comprise cash at bank and other short term liquid investments. |
| Debtors |
| Short term debtors are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and loss account when there is objective evidence that the asset is impaired. |
| Creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Operating leases |
| Operating lease payments are charged to the profit and loss account over a systemic basis in which the benefit is incurred. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Exail Ltd (Registered number: 05256818) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1st January 2024 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31st December 2024 |
| DEPRECIATION |
| At 1st January 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31st December 2024 |
| NET BOOK VALUE |
| At 31st December 2024 |
| At 31st December 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 7. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| Exail Ltd (Registered number: 05256818) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st December 2024 |
| 9. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| 10. | POST BALANCE SHEET EVENTS |
| On 14th April 2025 a dividend amounting to £350,000 in total was declared and approved at the company's annual general meeting. |