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Registered number: 03097032
The Xara Group Limited
Financial Statements
For The Year Ended 30 September 2024
The Xara Group Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—6

Page 1
The Xara Group Limited
Balance Sheet
As At 30 September 2024
Balance Sheet
Registered number: 03097032

| 2024 | 2023
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 5 |  | 5,713 |  | 3,339
|  |  | 5,713 |  | 3,339
CURRENT ASSETS
Debtors | 6 | 1,179,508 |  | 773,511 |
Cash at bank and in hand |  | 1,127 |  | 1,127 |
|  | 1,180,635 |  | 774,638 |
Creditors: Amounts Falling Due Within One Year | 7 | (344,764 ) |  | (84,766 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 835,871 |  | 689,872
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 841,584 |  | 693,211
NET ASSETS |  |  | 841,584 |  | 693,211
CAPITAL AND RESERVES
Called up share capital | 8 |  | 100 |  | 100
Share premium account |  |  | 246,032 |  | 246,032
Capital redemption reserve |  |  | 5 |  | 5
Profit and Loss Account |  |  | 595,447 |  | 447,074
SHAREHOLDERS' FUNDS |  |  | 841,584 |  | 693,211

Page 1
Page 2
The Xara Group Limited
Balance Sheet (continued)
As At 30 September 2024
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

J M Jaron Director
17 September 2025

The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
The Xara Group Limited
Notes to the Financial Statements
For The Year Ended 30 September 2024
Notes to the Financial Statements
1. General Information
The Xara Group Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03097032 . The registered office is Gaddesden Place, Hemel Hempstead, Hertfordshire, HP2 6EX.
2. Statement of Compliance
The financial statements have been prepared 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.
3. Accounting Policies
3.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention. The presentation currency is the Pound Sterling (£).
3.2. Going Concern Disclosure
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
For the year ended 30 September 2024 the company's income statement showed a pre-tax profit of £148,373, however as noted under Related Parties (note 9) there was exceptional income of £450,000. In the absence of this the company would have had a pre-tax loss of £301,627 (2023: loss of £326,826) and its seventh consecutive year of decreasing turnover. The company is forecast to increase turnover and become profitable again in the immediate foreseeable future but the trading history over the previous periods continues to present a material uncertainty.
At 30 September 2024 the company had net assets of £841,584 and included in current assets is £678,096 due from companies within the group. The company's ability to continue as a going concern is dependent on this asset being recoverable on demand to meet ongoing operational costs as they fall due and on the ongoing financial support of the ultimate parent company, Bellevue Investments GmbH & Co. KGaA.
On this basis the director believes it appropriate for these financial statements to be prepared on a going concern basis.
3.3. Turnover
Turnover is derived from sales of software products developed by The Xara Group Limited. Sales are derived from two revenue streams:

1. turnover generated from sales of cloud and desktop based applications in accordance with a distribution agreement with Xara GmbH (the immediate parent company).
2. turnover generated from the provision of software development services to iXara Limited (a fellow subsidiary company within the Bellevue group).

Turnover is recognised at the point the above distribution partners recognise a sale of a product covered by the agreements.
3.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | Straight line over 3 years

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The Xara Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2024
3.5. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3.6. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
The tax losses to date would ordinarily give rise to a deferred tax asset of £252,183. While forecasts show an increase in turnover and a return to profit in the imminent future, given the extent of the losses and the recent trading history, there is still some doubt whether sufficient profits will be generated in the foreseeable short term future to fully realise the value of such an asset. Hence it is deemed prudent not to make a provision at this juncture, and until realisation is considered probable.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.8. Research and development
Expenditure on research and development is written off in the year in which it is incurred.
4. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
Page 4
Page 5
The Xara Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2024
5. Tangible Assets

| Plant & Machinery
--- | ---
| £
Cost
As at 1 October 2023 | 37,499
Additions | 4,574
Disposals | (4,008 )
As at 30 September 2024 | 38,065
Depreciation
As at 1 October 2023 | 34,160
Provided during the period | 2,200
Disposals | (4,008 )
As at 30 September 2024 | 32,352
Net Book Value
As at 30 September 2024 | 5,713
As at 1 October 2023 | 3,339

6. Debtors

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 80 |  | 80
Prepayments and accrued income | 480,888 |  | 12,744
Other debtors | 20,444 |  | 693
Amounts owed by group undertakings | 678,096 |  | 759,994
| 1,179,508 |  | 773,511

7. Creditors: Amounts Falling Due Within One Year

| 2024 |  | 2023
--- | --- | --- | ---
| £ |  | £
Trade creditors | 15,737 |  | 15,082
Other taxes and social security | 12,844 |  | 12,664
VAT | 8,039 |  | 13,606
Other creditors | 5,920 |  | 6,025
Accruals and deferred income | 47,652 |  | 37,389
Amounts owed to group undertakings | 254,572 |  | -
| 344,764 |  | 84,766

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The Xara Group Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2024
8. Share Capital

| 2024 |  | 2023
--- | --- | --- | ---
Allotted, called up and fully paid | £ |  | £
10,000 Ordinary Shares of £ 0.01 each | 100 |  | 100

9. Related Party Disclosures
From October 2013 The Xara Group Limited, iXara Limited and Xara GmbH have worked in partnership to develop Xara Cloud, a suite of cloud based applications. The development project utilised proprietary code belonging to The Xara Group Limited. The Xara Group Limited has not previously charged a licence fee for use of this code in this project. On 18 October 2024, after the year end, the shareholders and directors of The Xara Group Limited and iXara Limited agreed that a £450,000 licence fee should be charged to iXara Limited in respect of the period of The Xara Cloud development up to 30 September 2024. The figure of £450,000 is deemed by both parties as a fair and reasonable adjustment for the contributions each party has brought to the Xara Cloud project. Since this post year end agreement relates to a re-assessment of the period up to 30 September 2024 the charge has been included in accrued income under current assets and credited to the profit and loss account.
In accordance with Section 1A of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", the company has not disclosed related party transactions conducted under normal market conditions.
10. Controlling Parties
The company's immediate parent undertaking is Xara GmbH .
The ultimate parent undertaking is Bellevue Investments GmbH & Co. KGaA (incorporated in Germany). Its registered office is Quedlinburger Str. 1, 10589 Berlin, Deutschland. .
11. Audit Information
The auditor's report on the accounts of The Xara Group Limited for the year ended 30 September 2024 was unqualified.
The auditors emphasised the following matter without qualifying their report:
We draw attention to the Related Party Disclosures note which describes a material and exceptional accrual for a post year end agreement between The Xara Group Limited and iXara Limited relating to use of software development code in the period up to 30 September 2024. Our opinion has not been modified in respect of this matter.
The auditor's report was signed by Jonathan Hankinson (Senior Statutory Auditor) for and on behalf of Lindon Audit Services Limited , Statutory Auditor.

Lindon Audit Services Limited Avaland House 110 London Road Hemel Hempstead Hertfordshire HP3 9SD

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