XEROS LIMITED

• ⚠

  Material uncertainty over going concern

  The company's business position, together with the risk factors likely to affect its future development, performance and position are set out in the Strategic Review on pages 2 to 5. The company is currently loss making due to the early stage of commercial operations. 2024 was a year where significant commercial revenue was not generated from customers with contracts due to a number of factors, including delays and the stages of those contracts. ... However, given the current commercial position of the Group the Directors acknowledge that the Group's - and therefore the Company's - current cash position does not provide certainty beyond this point and may not, with the current rate of cash outflow and the uncertainty over the Company's revenue, provide the Company with the resources to reach a cash breakeven point. ... Given the lack of certainty around these scenarios, the Directors consider the Group's current funding positions constitutes a material uncertainty that may cast significant doubt as to the Company's ability to continue as a going concern, and in the absence of significant customer revenue, the Group's cash resources will run out.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The company's business position, together with the risk factors likely to affect its future development, performance and position are set out in the Strategic Review on pages 2 to 5. The company is currently loss making due to the early stage of commercial operations. 2024 was a year where significant commercial revenue was not generated from customers with contracts due to a number of factors, including delays and the stages of those contracts. ... However, given the current commercial position of the Group the Directors acknowledge that the Group's - and therefore the Company's - current cash position does not provide certainty beyond this point and may not, with the current rate of cash outflow and the uncertainty over the Company's revenue, provide the Company with the resources to reach a cash breakeven point. ... Given the lack of certainty around these scenarios, the Directors consider the Group's current funding positions constitutes a material uncertainty that may cast significant doubt as to the Company's ability to continue as a going concern, and in the absence of significant customer revenue, the Group's cash resources will run out.”

Significant events

• “During 2024, the Company signed a hugely significant contract with Donlim Group ("Donlim"), the World's largest small domestic appliance manufacturer, to manufacture the XF3 External Filter under licence. This partnership has commenced in earnest and post period end it was announced that the XF3 would be launched initially in the UK under the Russell Hobbs brand.”
• “The existing licence agreement with IFB also took a step forward with the 9kg washing machine achieving positive feedback from its consumer trials ahead of launch. Post period end, IFB placed a purchase order for XOrbs which provides more confidence than ever that the machines will be going into production ahead of a retail launch later this year.”
• “The year under review also saw the Company's denim finishing partner, Yilmak Makina / KRM ("Yilmak"), launch a machine at ITM, the leading garment manufacturing show. Although full roll out was delayed at the final stage of cycle development, it is on track to now dispatch its first machines to garment manufactures and accordingly Yilmak have placed a Purchase Order for initial Xorb requirement.”
• “The Company's administrative cost base was also reduced in the year, following changes to the Group's headcount alongside a focus on cost reduction across the business and a focus on commercial activities.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -45.3%

  £294,960 → £161,274

• Cash

  -42.4%

  £755,219 → £434,677

• Net assets

  -3.2%

  -£119,053,315 → -£122,917,411

• Employees

  -9.4%

  32 → 29

• Operating profit

  -0.5%

  -£4,085,131 → -£4,104,287

• Profit before tax

  -0.4%

  -£4,123,541 → -£4,140,011

• Wages

  -22.4%

  £1,798,186 → £1,395,636

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers