REGISTERED NUMBER: 06603135 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

XANALYS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J Bender

SECRETARY:

Mr J A Evans

REGISTERED OFFICE:

Brook Suite, Ground Floor, Bewley House

Marshfield Road

Chippenham

SN15 1JW

REGISTERED NUMBER:

06603135 (England and Wales)

AUDITORS:

Kings CAP Ltd

Statutory Auditor

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

FIXED ASSETS

Tangible assets

4

14,698

23,735

Investments

5

-

59

14,698

23,794

CURRENT ASSETS

Debtors

6

1,081,848

523,992

Cash at bank

377,195

1,024,133

1,459,043

1,548,125

CREDITORS

Amounts falling due within one year

7

372,612

225,659

NET CURRENT ASSETS

1,086,431

1,322,466

TOTAL ASSETS LESS CURRENT LIABILITIES

1,101,129

1,346,260

PROVISIONS FOR LIABILITIES

9

3,675

5,934

NET ASSETS

1,097,454

1,340,326

CAPITAL AND RESERVES

Called up share capital

10

790

790

Share premium

2,796

2,796

Retained earnings

1,093,868

1,336,740

SHAREHOLDERS' FUNDS

1,097,454

1,340,326

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 director and authorised for issue on 18 December 2025 and were signed by:

Mr J Bender - Director

1.	STATUTORY INFORMATION

Xanalys Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover 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.

Fixtures and fittings

-

25% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet 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,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.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Hire purchase and leasing commitments

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024

57,108

Additions

3,214

Disposals

(40,901

)

At 31 December 2024

19,421

DEPRECIATION

At 1 January 2024

33,373

Charge for year

5,464

Eliminated on disposal

(34,114

)

At 31 December 2024

4,723

NET BOOK VALUE

At 31 December 2024

14,698

At 31 December 2023

23,735

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

59

Disposals

(59

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

59

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

39,216

353,872

Amounts owed by group undertakings

881,278

-

Other debtors

59,225

101,310

Work in progress

33,822

-

Value added tax

-

7,931

Prepayments

68,307

60,879

1,081,848

523,992

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

4,973

3,123

Amounts owed to group undertakings

81,411

-

Social security and other taxes

32,157

32,470

Value added tax

3,602

-

Other creditors

19,880

6,101

Accruals and deferred income

204,232

164,780

Accruals

26,357

19,185

372,612

225,659

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

35,583

35,583

Between one and five years

103,784

139,367

139,367

174,950

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

£

Deferred tax

Accelerated capital allowances

3,675

5,934

Deferred

tax

£

Balance at 1 January 2024

5,934

Credit to Statement of Income and Retained Earnings during year

(2,259

)

Balance at 31 December 2024

3,675

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

780

Ordinary

£1

780

780

10

Ordinary A

£1

10

10

790

790

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

The Report of the Auditors was unqualified.

Sara Brown (Senior Statutory Auditor)

for and on behalf of Kings CAP Ltd

12.	ULTIMATE CONTROLLING PARTY

On 22 April 2024 Constellation Software UK Holdco Limited acquired the entire share capital of the company. The immediate parent undertaking is Constellation Software UK Holdco Limited, a company incorporated in the UK.

The largest and smallest group in which the results are consolidated is Constellation Software Inc. Constellation Software Inc is incorporated in Canada and is also the ultimate controlling party of the company. The consolidated accounts for this group are available from the company website.