XLINKS LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.4 (going concern) on page 20 of the financial statements which explains that the Group's and the Company's ability to continue as a going concern is dependent on the Company's ability to raise finance through completing the rights issue and maintaining sufficient liquidity from progress in project development or implementing cost-saving measures. These events and conditions, along with the other matters explained in note 2.4 of the financial statements, constitute a material uncertainty that may cast significant doubt on the Group and the Company's ability to continue as a going concern.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

• Turnover

  —

  Not reported

• Cash

  +56.5%

  £20,526,600 → £32,127,916

  highest in 3 filed years

• Net assets

  +25.9%

  £26,764,956 → £33,686,008

• Employees

  +86.2%

  29 → 54

  highest in 5 filed years

• Operating profit

  -138.6%

  -£17,167,082 → -£40,966,928

• Profit before tax

  -127.5%

  -£17,140,017 → -£38,999,956

• Wages

  +329.8%

  £1,321,477 → £5,679,466

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

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 102

Reporting scope

Consolidated group

Auditor

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.4 (going concern) on page 20 of the financial statements which explains that the Group's and the Company's ability to continue as a going concern is dependent on the Company's ability to raise finance through completing the rights issue and maintaining sufficient liquidity from progress in project development or implementing cost-saving measures. These events and conditions, along with the other matters explained in note 2.4 of the financial statements, constitute a material uncertainty that may cast significant doubt on the Group and the Company's ability to continue as a going concern.”

Group structure

1. XLINKS LIMITED · parent
   1. Xlinks First Limited 55.05% · United Kingdom
   2. Xlinks 1 Auxiliary Equipment Limited 100% · United Kingdom
   3. Xlinks Morocco SA 99.99% · Morocco
   4. Morocco-UK Green Electricity Export SA 99.87% · Morocco
   5. Xlinks 1 Limited 100% · United Kingdom
   6. Xlinks Morocco Development SA 99.99% · Morocco
   7. Xlinks Germany Gmbh 58.5% · Germany
   8. Xlinks Third Limited 100% · United Kingdom
   9. Elemental Power SAS 99.99% · France

Significant events

• “In June 2025, the UK Department for Energy Security and Net Zero ("DESNZ") decided not to advance a Contract for Difference ("CfD") scheme for the Group's first project, the Morocco-UK Power Project...This event is considered to be a non-adjusting event.”

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

Filings

8

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

3

last 12 months

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