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Registration number: NI617280

Xabis Limited
Annual Report and Unaudited Abridged Financial Statements
for the Year Ended 31 March 2026

Xabis Limited

Contents

Company Information | 1
Abridged Balance Sheet | 2 to 3
Compliance | 3
Notes to the Unaudited Abridged Financial Statements | 4 to 6

Xabis Limited

Company Information

Director | Mr MJ Dalzell

Company secretary | Mr MJ Dalzell

Registered office | 96 Priestland Road BUSHMILLS Co. Antrim BT57 8UJ

Bankers | Bank of Ireland 11 Market Street MAGHERAFELT Co. Londonderry BT45 6EE

Accountants | Roberts & Co Chartered AccountantsSuite 721 Lisburn Enterprise Centre 6 Enterprise Crescent LISBURN Co. Antrim BT28 2BP

Xabis Limited

(Registration number: NI617280)
Abridged Balance Sheet as at 31 March 2026

| Note | 2026 £ | 2025 £
Fixed assets |  |  |
Tangible assets |  | 1,501,370 | 2,127,699
Current assets |  |  |
Debtors |  | 9,819,552 | 9,886,363
Cash at bank and in hand |  | 148,899 | 171,297
|  | 9,968,451 | 10,057,660
Creditors: Amounts falling due within one year |  | (346,035) | (445,925)
Net current assets |  | 9,622,416 | 9,611,735
Total assets less current liabilities |  | 11,123,786 | 11,739,434
Provisions for liabilities |  | (16,900) | (11,800)
Net assets |  | 11,106,886 | 11,727,634
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 11,106,786 | 11,727,534
Shareholders' funds |  | 11,106,886 | 11,727,634

Xabis Limited

(Registration number: NI617280)
Abridged Balance Sheet as at 31 March 2026

For the financial year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The company has taken advantage of the exemption under Section 444 not to file the Profit & Loss Account and Directors Report. Furthermore, all of the company's members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 15 May 2026

......................................... Mr MJ Dalzell Company secretary and director |  |

Xabis Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

1 | General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
96 Priestland Road
BUSHMILLS
Co. Antrim
BT57 8UJ

These financial statements were authorised for issue by the director on 15 May 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Xabis Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
The cost of property is not depreciated as, in the director's opinion, the property valuation will exceed the historical cost of the property.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties, over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 33% straight line
Furniture and fittings | 20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Xabis Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2026

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2025 - 4).