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REGISTERED NUMBER: 05256818 (England and Wales)















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: J D E Cunningham
Exail SAS



REGISTERED OFFICE: The Engine House
77 Station Road
Petersfield
Hampshire
GU32 3FQ



REGISTERED NUMBER: 05256818 (England and Wales)



SENIOR STATUTORY AUDITOR: D A Sanders FCA



AUDITORS: Sheen Stickland
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 42,048 11,537

CURRENT ASSETS
Stocks 40,829 36,845
Debtors 5 2,122,167 1,808,006
Cash at bank 210,352 208,675
2,373,348 2,053,526
CREDITORS
Amounts falling due within one year 6 (2,012,973 ) (1,875,986 )
NET CURRENT ASSETS 360,375 177,540
TOTAL ASSETS LESS CURRENT LIABILITIES 402,423 189,077

PROVISIONS FOR LIABILITIES (10,507 ) (3,766 )
NET ASSETS 391,916 185,311

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 366,916 160,311
SHAREHOLDERS' FUNDS 391,916 185,311

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5th May 2025 and were signed on its behalf by:





J D E Cunningham - Director


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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - over the remaining life of the lease
Plant and machinery etc - 33% on cost and 15% on cost

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 9 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st January 2024 102,675 76,468 179,143
Additions 25,740 14,097 39,837
Disposals - (4,793 ) (4,793 )
At 31st December 2024 128,415 85,772 214,187
DEPRECIATION
At 1st January 2024 102,404 65,202 167,606
Charge for year 572 7,264 7,836
Eliminated on disposal - (3,303 ) (3,303 )
At 31st December 2024 102,976 69,163 172,139
NET BOOK VALUE
At 31st December 2024 25,439 16,609 42,048
At 31st December 2023 271 11,266 11,537

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,119 392,400
Amounts owed by group undertakings 2,026,581 1,368,584
Other debtors 49,467 47,022
2,122,167 1,808,006

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 40,847 11,286
Amounts owed to group undertakings 1,796,371 1,719,810
Taxation and social security 83,910 46,525
Other creditors 91,845 98,365
2,012,973 1,875,986

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 68,432 68,432
Between one and five years 18,905 86,729
In more than five years - 608
87,337 155,769

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

D A Sanders FCA (Senior Statutory Auditor)
for and on behalf of Sheen Stickland

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.