BrightAccountsProduction v1.0.0 v1.0.0 2025-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company during the year was development of technology in the telecommunications sector. 17 June 2026 NI618643 2025-12-31 NI618643 2024-12-31 NI618643 2023-12-31 NI618643 2025-01-01 2025-12-31 NI618643 2024-01-01 2024-12-31 NI618643 uk-bus:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 NI618643 uk-curr:PoundSterling 2025-01-01 2025-12-31 NI618643 uk-bus:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 NI618643 uk-bus:FullAccounts 2025-01-01 2025-12-31 NI618643 uk-bus:Director1 2025-01-01 2025-12-31 NI618643 uk-bus:Director2 2025-01-01 2025-12-31 NI618643 uk-bus:RegisteredOffice 2025-01-01 2025-12-31 NI618643 uk-bus:Agent1 2025-01-01 2025-12-31 NI618643 uk-core:ShareCapital 2025-12-31 NI618643 uk-core:ShareCapital 2024-12-31 NI618643 uk-core:SharePremium 2025-12-31 NI618643 uk-core:SharePremium 2024-12-31 NI618643 uk-core:RetainedEarningsAccumulatedLosses 2025-12-31 NI618643 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI618643 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-12-31 NI618643 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 NI618643 uk-bus:FRS102 2025-01-01 2025-12-31 NI618643 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2025-01-01 2025-12-31 NI618643 uk-core:FurnitureFittingsToolsEquipment 2025-01-01 2025-12-31 NI618643 uk-core:IntangibleAssetsOtherThanGoodwill 2024-12-31 NI618643 uk-core:IntangibleAssetsOtherThanGoodwill 2025-01-01 2025-12-31 NI618643 uk-core:IntangibleAssetsOtherThanGoodwill 2025-12-31 NI618643 uk-core:CurrentFinancialInstruments 2025-12-31 NI618643 uk-core:CurrentFinancialInstruments 2024-12-31 NI618643 uk-core:WithinOneYear 2025-12-31 NI618643 uk-core:WithinOneYear 2024-12-31 NI618643 uk-core:BetweenOneTwoYears 2025-12-31 NI618643 uk-core:BetweenOneTwoYears 2024-12-31 NI618643 uk-core:EmployeeBenefits 2024-12-31 NI618643 uk-core:EmployeeBenefits 2025-01-01 2025-12-31 NI618643 uk-core:AcceleratedTaxDepreciationDeferredTax 2025-12-31 NI618643 uk-core:TaxLossesCarry-forwardsDeferredTax 2025-12-31 NI618643 uk-core:OtherDeferredTax 2025-12-31 NI618643 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-12-31 NI618643 uk-core:EmployeeBenefits 2025-12-31 NI618643 uk-core:ParentEntities 2025-01-01 2025-12-31 NI618643 uk-countries:UnitedKingdom 2025-01-01 2025-12-31 NI618643 uk-bus:AuditExempt-NoAccountantsReport 2025-01-01 2025-12-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: NI618643

Voxbit Ltd

Unaudited Financial Statements

for the financial year ended 31 December 2025

Voxbit Ltd

Directors and Other Information

Directors | Mr David Paul Smith
| Mr David Whelan
Company Registration Number | NI618643
Registered Office | 1 Lanyon Quay
| Belfast
| BT1 3LG
| Northern Ireland
Accountants | HCA Chartered Accountants Ltd
| Chartered Accountants
| 12 Cromac Place
| Belfast
| Co. Antrim
| BT7 2JB
| Northern Ireland
Bankers | Danske Bank
| Donegall Square West
| Belfast

Voxbit Ltd

Company Registration Number: NI618643

Balance Sheet

as at 31 December 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Fixed Assets

Intangible assets |  | 7 | 2,615,072 |  | 2,371,005
Tangible assets |  | 8 | 5,787 |  | 1,702
|  |  | ───────── |  | ─────────
Fixed Assets |  |  | 2,620,859 |  | 2,372,707
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  | 9 | 9,977 |  | 9,499
Debtors |  | 10 | 162,567 |  | 39,631
Cash and cash equivalents |  |  | 27,692 |  | 9,365
|  |  | ───────── |  | ─────────
|  |  | 200,236 |  | 58,495
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 11 | (2,232,294) |  | (1,815,240)
|  |  | ───────── |  | ─────────
Net Current Liabilities |  |  | (2,032,058) |  | (1,756,745)
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 588,801 |  | 615,962
Creditors:

amounts falling due after more than one year |  | 12 | - |  | (238,301)
Provisions for liabilities |  | 14 | (586,154) |  | (377,613)
|  |  | ───────── |  | ─────────
Net Assets |  |  | 2,647 |  | 48
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 1,440,100 |  | 1,350,100
Share premium account |  | 15 | 3,600 |  | -
Retained earnings |  |  | (1,441,053) |  | (1,350,052)
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 2,647 |  | 48
|  |  | ═════════ |  | ═════════
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Board and authorised for issue on 17 June 2026 and signed on its behalf by

________________________________ |  |  |  |  |
Mr David Whelan |  |  |  |  |
Director |  |  |  |  |

Voxbit Ltd

Notes to the Financial Statements

for the financial year ended 31 December 2025

1. | General Information
| Voxbit Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI618643. The registered office of the company is 1 Lanyon Quay, Belfast, BT1 3LG, Northern Ireland. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the financial year ended 31 December 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
| Intangible assets
| VOIP Platform
| The VOIP Platform is valued at amortised cost. Cost represents development expenditure recognised by HMRC as qualifying for R&D tax credit relief. The directors believe that although the platform has yet to generate significant revenues, they are confident in its future potential. For this reason, the directors have departed from the provisions within FRS 102 and have not determined fair value by reference to an active market given such a market does not presently exist. In 2020 it was assessed that commercial exploitation of the technology had commenced with customer contracts typically having a duration of 5 years. Accordingly amortisation was calculated based on revenues in that year and those expected to accrue over the next 4 years. That policy was continued in 2021 and 2022 with amortisation in 2022 being based on revenues in 2020 to 2022 and those expected over the following two years. In the current and prior years it became apparent that further development was required and additional spend of £341,008 (2024: £297,267) was incurred on the Platform. Accordingly amortisation has been calculated in 2025 based on turnover in that year and estimated revenues in the following five years to 2030 (2024: 2029).
| Where factors, such as technological advancement, indicate that the useful life has changed, the amortisation rate of over 6 years will be amended to reflect the new circumstances. The company evaluates the carrying value of intangibles in each financial year to determine if there has been an impairment in value which would result in the inability to recover the carrying amount. When it is determined that the carrying value exceeds the recoverable amount, the excess will be written off to the profit and loss account. Development costs previously recognized as an expense are not recognized as an asset in a subsequent period.
| Tangible assets and depreciation
| Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Fixtures, fittings and equipment | - | 15% Straight line
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Stocks
| Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Borrowing costs
| Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
| Provisions
| Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Employee benefits
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The assets of this scheme are held separately from those of the company, being invested with pension fund managers.
| Taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
| Government grants
| Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
| Foreign currencies
| Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
| Share capital of the company
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.
| Preference share capital
| The company has in issue £1,440,000 (2024: £1,350,000) of redeemable (at the company’s option) preference shares, of which £640,000 (2024: £550,000) have a 3% coupon rate, and £800,000 have no coupon. As these shares are held, the main, by the parent company and the controlling shareholders of that company have waived entitlement to the dividends, the entire holding has been treated as equity not withstanding that the cumulative dividend element would indicate a partial debt-like component

3. | Significant accounting judgements and key sources of estimation uncertainty
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical judgements in applying the company's accounting policies No critical judgements have been made in applying the company's accounting policies. Critical accounting estimates and assumptions The intangible asset of development includes new products and concepts developed internally in respect of the VOIP platform. At 31 December 2025, the carrying amount of this was £2,615,072 (2024: £2,371,005). The company estimates the useful economic life to be 6 years based on the expected evolution of the platform. However, the actual life may be shorter or longer, depending on further innovations, customer behaviours and competitor activity. Implicit in the carrying value of the intangible is that it will generate incremental profits over its useful life equivalent to at least its carrying value. Thus the recoverability of the carrying value of the intangible asset - that is based on both the estimation of future profitability and of the platform's useful life - is a significant accounting judgement reflecting significant estimates that materially impact on the balance sheet position of the company. The presentation of the preference shares holding of £1,440,000 in the company (2024: £1,350,000) as equity rather than as debt is a significant accounting judgement that materially impacts on the balance sheet position of the company. No other critical accounting estimates or judgements are made which would have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4. | Going concern
| The company has net current liabilities, its major asset is capitalised spend on the development of a VOIP platform and its continued operation relies on the support of its parent company. The parent company has undertaken not to seek repayment of its loan until Voxbit is in a position to do so. Indeed, as occurred in the previous year, the parent company is content to subscribe for fresh issues of equity in lieu of loan repayment as required. Further, the directors remain confident the company will be able to fully commercialise the company's technology whereby it is appropriate to continue to prepare the accounts on a going concern basis.

5. | Critical Accounting Judgements and Estimates
| The directors consider the accounting estimates and assumptions applied to the capitalisation of development expenditure to be its critical accounting judgements and estimates:

6. | Employees
| The average monthly number of employees, including directors, during the financial year was 12, (2024 - 11).
|  | 2025 | 2024
|  | Number | Number
| Directors | 2 | 2
| Technical | 10 | 9
|  | ───────── | ─────────
|  | 12 | 11
|  | ═════════ | ═════════

7. | Intangible assets
|  | VOIP Platform |
|  |  | Total
|  | £ | £
| Cost
| At 1 January 2025 | 4,162,699 | 4,162,699
| Additions | 341,008 | 341,008
|  | ───────── | ─────────
| At 31 December 2025 | 4,503,707 | 4,503,707
|  | ───────── | ─────────
| Amortisation
| At 1 January 2025 | 1,791,694 | 1,791,694
| Charge for financial year | 96,941 | 96,941
|  | ───────── | ─────────
| At 31 December 2025 | 1,888,635 | 1,888,635
|  | ───────── | ─────────
| Net book value
| At 31 December 2025 | 2,615,072 | 2,615,072
|  | ═════════ | ═════════
| At 31 December 2024 | 2,371,005 | 2,371,005
|  | ═════════ | ═════════

8. | Tangible assets
|  | Fixtures, | Total
|  | fittings and |
|  | equipment |
|  | £ | £
| Cost
| At 1 January 2025 | 48,416 | 48,416
| Additions | 4,709 | 4,709
|  | ───────── | ─────────
| At 31 December 2025 | 53,125 | 53,125
|  | ───────── | ─────────
| Depreciation
| At 1 January 2025 | 46,714 | 46,714
| Charge for the financial year | 624 | 624
|  | ───────── | ─────────
| At 31 December 2025 | 47,338 | 47,338
|  | ───────── | ─────────
| Net book value
| At 31 December 2025 | 5,787 | 5,787
|  | ═════════ | ═════════
| At 31 December 2024 | 1,702 | 1,702
|  | ═════════ | ═════════

9. | Stocks | 2025 | 2024
|  | £ | £
| Finished goods and goods for resale | 9,977 | 9,499
|  | ═════════ | ═════════

10. | Debtors | 2025 | 2024
|  | £ | £
| Trade debtors | 11,054 | 18,128
| Other debtors | 19,346 | 6,346
| Directors' current accounts (Note 18) | 10,510 | 10,510
| Taxation (Note 13) | 113,836 | -
| Prepayments and accrued income | 7,821 | 4,647
|  | ───────── | ─────────
|  | 162,567 | 39,631
|  | ═════════ | ═════════

11. | Creditors | 2025 | 2024
| Amounts falling due within one year | £ | £
| Trade creditors | 41,023 | 33,912
| Amounts owed to group undertakings | 2,061,486 | 1,658,552
| Taxation (Note 13) | 65,594 | 46,109
| Other creditors | 1,238 | 15,143
| Accruals:
| Pension accrual | 2,242 | 2,257
| Other accruals | 60,711 | 59,267
|  | ───────── | ─────────
|  | 2,232,294 | 1,815,240
|  | ═════════ | ═════════
| Whilst amounts owed to group companies have been disclosed as falling due for repayment in less than one year, the parent company will not seek repayment until Voxbit has the liquidity to make repayment. Advances from the parent company are unsecured and interest free.

12. | Creditors | 2025 | 2024
| Amounts falling due after more than one year | £ | £
| Other Creditors | - | 238,301
|  | ═════════ | ═════════
| Other Creditors
| Repayable between one and two years | - | 238,301
|  | ═════════ | ═════════

13. | Taxation | 2025 | 2024
|  | £ | £
| Debtors:
| Corporation tax | 113,836 | -
|  | ═════════ | ═════════
| Creditors:
| VAT | 49,493 | 30,436
| PAYE / NI | 16,101 | 15,673
|  | ───────── | ─────────
|  | 65,594 | 46,109
|  | ═════════ | ═════════

14. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Losses | Other | Total | Total
|  | allowances |  | differences |  |
|  |  |  |  | 2025 | 2024
|  | £ | £ | £ | £ | £
| At financial year start | 426 | (215,000) | 592,187 | 377,613 | 415,029
| Charged to profit and loss | 1,021 | 146,500 | 61,020 | 208,541 | (37,416)
|  | ───────── | ───────── | ───────── | ───────── | ─────────
| At financial year end | 1,447 | (68,500) | 653,207 | 586,154 | 377,613
|  | ═════════ | ═════════ | ═════════ | ═════════ | ═════════

15. | Reserves
| Share Premium Reserve
| The amount carried forward is the premium that arose from the issue of shares in 2010.

16. | Capital commitments
| The company had no material capital commitments at the financial year-ended 31 December 2025.

17. | Related party transactions
| Transactions with group companies include the recharging of certain expenses between the company and its parent, Clarity Telecom Limited. At the year end the company owed Clarity Telecom £2,032,532 (2024: £1,632,949).
| Voxbit Ltd previously provided services to a related party. At the year end 31st December 2025 £15,602 (2024: £15,602) was owed by that related party. Voxbit Limited is a 90% subsidiary of Clarity Telecom Limited, a company incorporated in Northern Ireland. During the year Voxbit Ltd paid Beach Beech Ltd £40,977 (2024: £153,258) for management wages. Beach Beech Ltd is a connected party. At the year end the amount owed to Beach Beech Ltd, included in trade creditors was £Nil (2024: £Nil). During the year, Voxbit Limited, had transactions with Clarity ROI Limited, a sister ROI company to Clarity Telecom Limited. At the 31st December 2025, Clarity ROI Limited was owed £65,754 by Voxbit Limited (2024: £45,852).

18. | Directors' advances, credits and guarantees
| In a prior year the company advanced a director an amount of £10,510. At the year end 31st December 2024, this amount is still outstanding. (2023: £10,510). This loan is interest free, and repayable upon demand.

19. | Parent company
| The company regards Clarity Telecom Limited as its parent company.

20. | Controlling interest
| The company was under the control of the directors and of the parent company throughout the current and previous years.

21. | Post-Balance Sheet Events
| There have been no significant trading events affecting the company since the financial year-end.

22. | Deferred tax
| Other timing differences include £653,768 (2024: £592,751) in respect of future amortisation of the VOIP platform.