REGISTERED NUMBER: 12067785 (England and Wales)

Audited Financial Statements

for the Period 1 February 2025 to 31 December 2025

for

Cybersel UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Fabrizio Crespi Morbio

Mr Walter Marmo

REGISTERED OFFICE:

c/o Accountsco

47 Islington Park Street

London

N1 1QB

REGISTERED NUMBER:

12067785 (England and Wales)

AUDITORS:

PG & E Professional Services Ltd

Chartered Accountants & Statutory Auditor

47 Islington Park Street

London

N1 1QB

CURRENT ASSETS

Debtors

4

48,788

7,558

Cash at bank

77,568

89,371

126,356

96,929

CREDITORS

Amounts falling due within one year

5

242,471

333,380

NET CURRENT LIABILITIES

(116,115

)

(236,451

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(116,115

)

(236,451

)

ACCRUALS AND DEFERRED INCOME

130,367

6,000

NET LIABILITIES

(246,482

)

(242,451

)

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

(296,482

)

(292,451

)

(246,482

)

(242,451

)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2026 and were signed on its behalf by:

Mr Walter Marmo - Director

1.	STATUTORY INFORMATION

Cybersel UK Limited 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.

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.

These financial statements are the first financial statements that comply with FRS 102 Section 1A "Small Entities". The date of transition is on 1 February 2025.

In the prior year, the Company's financial statements were prepared under FRS 105 (The Financial Reporting Standard applicable to the Micro-entities regime). However, due to the Company's inclusion within a group requiring consolidation, this was not in compliance with the applicable financial reporting framework. Accordingly, the financial statements for the current year have been prepared under FRS 102 Section 1A.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised in full when the customer accepts the purchase order or quotation.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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

As a result of the losses made in current and previous years the directors believe that it is not prudent to account for deferred tax assets nor necessary to account for deferred tax liabilities within these financial statements.

Going concern

The directors have received assurance of the continued support of the parent company, which has confirmed that it will continue to provide the financial resources necessary for the Company to meet its financial commitments as they fall due for at least twelve months from the date of approval of these financial statements. Therefore, the directors consider it appropriate that the financial statements are prepared on a going concern basis.

Change in accounting period

The Company has changed its accounting reference date during the year from 31 January to 31 December. Accordingly, the current financial statements cover a period of 11 months from 1 February to 31 December.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2025 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.1.25

£

£

Trade debtors

23,940

-

Amounts owed by group undertakings

-

6,493

Prepayments and accrued income

24,848

1,065

48,788

7,558

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.1.25

£

£

Bank loans and overdrafts

30,000

-

Trade creditors

52,259

58,752

Amounts owed to group undertakings

144,725

257,896

Social security and other taxes

15,487

16,732

242,471

333,380

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

The Report of the Auditors was unqualified.

Mr Simon Edrich (Senior Statutory Auditor)

for and on behalf of PG & E Professional Services Ltd

7.	AUDITOR LIABILITY LIMITATION

The company has limited the maximum aggregate amount of the Auditor's Liability to the company to not more than (1) the sum of 5 times the fees payable (excluding expenses and Value Added Tax) under the Engagement Letter referable to the financial year in question, or (2) £30,000, whichever is the lesser amount.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Cybersel SRL.

The immediate parent entity is Cybersel SRL, a company incorporated in Italy whose registered office is Lungo Dora Pietro Colletta 81, Turin (TO), 10153, Italy, which is the company sole shareholder. The ultimate controlling entity for which consolidated financial statements are drawn up is Step SPA a company incorporated in Italy whose registered office is Via Zaccarini 1, Rottofreno (PC), 29010, Italy. The consolidated financial statements are available from its registered office at Via Zaccarini 1, Rottofreno (PC), 29010, Italy.

9.	RECONCILIATIONS ON ADOPTION OF FRS 102

The transition to FRS 102 (1A) has not resulted in any changes to the company's net assets. Deferred tax, is normally required to be recognised under FRS 102 (1A), however, as a result of the losses made in current and previous years the directors believe that it is not prudent to account for deferred tax assets nor necessary to account for deferred tax liabilities within these financial statements.