Registration number:
Texom Limited
for the Year Ended 31 December 2025
Texom Limited
Company Information
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Director |
Fabio Mascialino |
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Registered office |
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Texom Limited
(Registration number: 10524881)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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|
Fixed assets |
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Other financial assets |
5,800,569 |
5,800,569 |
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Current assets |
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Debtors |
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
|
|
|
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Capital and reserves |
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Called up share capital |
124 |
124 |
|
|
Retained earnings |
572,394 |
308,949 |
|
|
Shareholders' funds |
572,518 |
309,073 |
For the financial 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.
Director's responsibilities:
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• |
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• |
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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......................................... |
Texom Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
The financial statements are presented in US Dollars ($), which is the functional currency of the company.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis. The directors consider this basis to be appropriate as the holder of the promissory note which makes up the company's debt is also a director and the majority shareholder of the company and has undertaken not to demand repayment of the $5,450,000 before 1 January 2028.
Investments
Investments in subsidiaries and associates are measured at cost less accumulated impairment. Dividends are recognised in the profit and loss account when the company becomes entitled to receive them.
Texom Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Fixed asset investments |
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Unlisted investments |
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Cost or valuation |
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At 1 January 2025 |
5,800,569 |
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At 31 December 2025 |
5,800,569 |
Texom Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Debtors |
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Current |
Note |
2025 |
2024 |
|
Amounts owed by related parties |
|
|
|
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Other debtors |
- |
|
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|
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Creditors |
Creditors: amounts falling due within one year
|
Note |
2025 |
2024 |
|
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Due within one year |
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Loans and borrowings |
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Other creditors |
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- |
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Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
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No. |
$ |
No. |
$ |
|
|
|
|
124 |
|
124 |
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Dividends |
|
2025 |
2024 |
|||
|
$ |
$ |
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Interim dividend of $ |
1,341,627 |
- |
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Texom Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Related party transactions |
During the year the company received dividends of $970,969 (2024: $110,000) from a subsidiary.
Also during the year, the director and majority shareholder, Fabio Mascialino, waived accrued interest of $722,132 on a promissory note held by him. The waiver was made in his capacity as a shareholder and has been recorded as a capital contribution.
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Parent and ultimate parent undertaking |
The ultimate controlling party is