XSAN & PARTNERS LLP

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: OC426202

		2024		2023 as restated
	Notes	€	€	€	€
FIXED ASSETS
Investments	5		47,519		47,519

			47,519		47,519
CURRENT ASSETS
Stocks	6	2,153		-
Debtors	7	314,788		354,547
Cash at bank and in hand		78,242		39,413

		395,183		393,960
Creditors: Amounts Falling Due Within One Year	8	(216,115 )		(227,775 )

NET CURRENT ASSETS (LIABILITIES)			179,068		166,185

TOTAL ASSETS LESS CURRENT LIABILITIES			226,587		213,704

NET ASSETS ATTRIBUTABLE TO MEMBERS			226,587		213,704

REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts		226,587		213,704

			226,587		213,704

			226,587		213,704

TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year			226,587		213,704

			226,587		213,704

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XSAN & PARTNERS LLP

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)

The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.

On behalf of the members

Mr ANTONIO SCALA

Designated Member

29/12/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

XSAN & PARTNERS LLP is a limited liability partnership, incorporated in England & Wales, registered number OC426202 . The Registered Office is 19 The Circle, Queen Elizabeth Street, London, SE1 2JE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).

The financial statements are prepared in sterling which is the functional currency of the LLP.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.4. 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. Average Number of Employees

Average number of employees, including members with contracts of employment, during the year was: NIL (2023: NIL)

4. Prior Period Adjustment

The comparatives have been restated in order to reflect Italian branch tax of €24,603 incurred in the year ended 31/12/2023. The profit has decreased by the same amount.

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XSAN & PARTNERS LLP

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Investments

	Unlisted
	€
Cost or Valuation
As at 1 January 2024	47,519

As at 31 December 2024	47,519

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	47,519

As at 1 January 2024	47,519

6. Stocks

	2024	2023 as restated
	€	€
Finished goods	2,153	-

7. Debtors

	2024	2023 as restated
	€	€
Due within one year
Trade debtors	312,822	346,394
Prepayments and accrued income	1,966	1,724
Other debtors (3)	-	6,429

	314,788	354,547

8. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	€	€
Trade creditors	46,181	52,045
Other taxes and social security	18,596	24,603
Loan (Mr. Scala)	123,896	149,862
Other Creditors	27,442	1,265

	216,115	227,775

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