Xbooks Ltd

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

Registered number: 14060842

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		176,362		249,732
Investments	5		8,800		8,800

			185,162		258,532
CURRENT ASSETS
Debtors	6	2,011		469
Cash at bank and in hand		38,746		62,862

		40,757		63,331
Creditors: Amounts Falling Due Within One Year	7	(4,465 )		(4,770 )

NET CURRENT ASSETS (LIABILITIES)			36,292		58,561

TOTAL ASSETS LESS CURRENT LIABILITIES			221,454		317,093

NET ASSETS			221,454		317,093

CAPITAL AND RESERVES
Called up share capital	8		164		164
Share premium account			753,960		753,960
Profit and Loss Account			(532,670 )		(437,031 )

SHAREHOLDERS' FUNDS			221,454		317,093

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Page 2

Xbooks Ltd

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

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

On behalf of the board

Mr Federico Pacilli

Director

16/02/2026

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

1. General Information

Xbooks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14060842 . The registered office is 1 Richmond Mews, Soho, London, England, W1D 3DA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives, which range from 3 to 5 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

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 directors, during the year was: 1 (2024: 1)

4. Intangible Assets

	Development Costs
	£
Cost
As at 1 January 2025	342,545

As at 31 December 2025	342,545

...CONTINUED

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Page 4

Xbooks Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

Amortisation
As at 1 January 2025	92,813
Provided during the period	73,370

As at 31 December 2025	166,183

Net Book Value
As at 31 December 2025	176,362

As at 1 January 2025	249,732

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 January 2025	8,800

As at 31 December 2025	8,800

Provision
As at 1 January 2025	-

As at 31 December 2025	-

Net Book Value
As at 31 December 2025	8,800

As at 1 January 2025	8,800

6. Debtors

	2025	2024
	£	£
Due within one year
VAT	2,011	469

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	(138 )	-
Other taxes and social security	1,443	1,820
Net wages	3,160	2,950

	4,465	4,770

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	164	164

9. Related Party Transactions

Xbooks SRL is the subsidiary Company of Xbooks Ltd located in Italy.

During the financial year Xbooks SRL has provided consultancy services for the value of £285,550.00

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