X-ENERGY UK HOLDINGS, LTD

Company Registration Number:
14273226 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2024

Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

X-ENERGY UK HOLDINGS, LTD

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Notes

X-ENERGY UK HOLDINGS, LTD

Balance sheet

As at 31 December 2024


Notes

2024

17 months to 31 December 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets:   0 0
Investments:   0 0
Total fixed assets: 0 0
Current assets
Stocks: 0 0
Debtors: 3 803,000 0
Cash at bank and in hand: 1,579,000 0
Investments:   0 0
Total current assets: 2,382,000 0
Creditors: amounts falling due within one year: 4 (1,272,900) (158,900)
Net current assets (liabilities): 1,109,100 (158,900)
Total assets less current liabilities: 1,109,100 (158,900)
Creditors: amounts falling due after more than one year: 5 (4,835,000) 0
Provision for liabilities: 0 0
Total net assets (liabilities): (3,725,900) (158,900)
Capital and reserves
Called up share capital: 100 100
Share premium account: 2,477,000 2,318,000
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: (6,203,000) (2,477,000)
Shareholders funds: (3,725,900) (158,900)

The notes form part of these financial statements

X-ENERGY UK HOLDINGS, LTD

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 01 August 2025
and signed on behalf of the board by:

Name: Steven Lester Miller
Status: Director

The notes form part of these financial statements

X-ENERGY UK HOLDINGS, LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Other accounting policies

Basis of preparation These financial statements have been prepared in accordance with FRS 102 and the Companies Act 2006. The financial statements have been prepared on the historical cost convention. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The principal accounting policies applied in the preparation of these financial statements are set out below. The financial statements are prepared in Great British Pounds, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest one thousand. Revenue Recognition Turnover comprises of the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The Company recognizes revenue when the amount of revenue can be reliably measured, it is probable that the future economic benefit will flow to the entity, and specific criteria have been met for each of the Company’s activities. Selling, general and administrative Selling, general and administrative expenses consist of human capital related expenses for employees involved in general corporate functions, including executive management and administration, accounting, finance, tax, legal, information technology, marketing and human resources; rent relating to the Company’s office space; professional fees and other general corporate costs. Leases The Company leases office space under a non-cancelable lease whose term is less than 12 months. When determining lease term, the Company considers any options to extend or terminate the lease when it is reasonably certain the Company will exercise such options. Such short-term leases are recognized on a straight-line basis over the lease term. Cash and cash equivalents Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with maturities of three months or less. The carrying value of cash and equivalents approximates its fair value. Foreign currency transactions Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates ('the Functional Currency'). The financial statements are presented in 'Great British Pound' (£), which is also the Company's Functional Currency. Foreign currency transactions are translated into the Functional Currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions, and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies, are recognised in the income statement. Current and deferred tax Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amounts are those that are enacted or substantively enacted at the reporting date in the countries where the Company operates and generates taxable income. Current income tax relating to items recognised directly in equity is recognised in equity and not in the statement of profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate. Deferred tax is provided using the liability method on temporary differences, that are controlled by the management of the Company and expected not to reverse in the future, between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax liabilities are recognised for all taxable temporary differences, except: When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss. In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. In assessing the recoverability of deferred tax assets, the Company relies on the same forecast assumptions used elsewhere in the financial statements and in other management reports. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognised outside profit or loss is recognised outside profit or loss. Deferred tax items are recognised in correlation to the underlying transaction either in OCI or directly in equity. The Company offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. Ordinary shares Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. Going concern The Company’s financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Since inception, the Company has funded its operations primarily with capital contributions and other financing received from its Ultimate Parent. The Company entered into a revenue contract during the current period, however, there can be no assurance that the Company will be able to fund operations solely based on the cash generated through revenue. If the Company is unable to fund operations solely through revenue, they will seek funding from the Ultimate Parent.

X-ENERGY UK HOLDINGS, LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

2. Employees

2024 17 months to 31 December 2023
Average number of employees during the period 4 4

X-ENERGY UK HOLDINGS, LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Debtors

2024 17 months to 31 December 2023
££
Debtors due after more than one year: 0 0

Amount per balance sheet should be 4,835,000 GBP.

X-ENERGY UK HOLDINGS, LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Creditors: amounts falling due within one year note

Trade creditors - zero for 2024 and 14,000 for 2023 VAT -150,000 for 2024 and zero for 2023 Amounts owed to group undertakings - 151,000 for 2024 and zero for 2023 Accruals -972,000 for 2024 and 145,000 for 2023 All current amounts owed by the Company are unsecured and not interest bearing.

X-ENERGY UK HOLDINGS, LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due after more than one year note

Loans and borrowings owed to group undertakings - 4,835,000 for 2024 and zero for 2023

X-ENERGY UK HOLDINGS, LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

6. Financial commitments

The Company is committed to a lease for office premises which expire in 2025 which is subject to a 30 day lease termination notice period. From time to time, the Company may be subject to legal actions arising in the normal course of business. It is not expected that any of these legal actions will have a material adverse effect on the financial position of the Company.

X-ENERGY UK HOLDINGS, LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

7. Related party transactions

Name of the related party: X-Energy Reactor Company LLC
Relationship:
Parent Company
Description of the Transaction: In the normal course of its business, the Company entered into transactions with related parties. From time to time, the Ultimate Parent or other affiliated subsidiaries of the Ultimate Parent may pay for expenses incurred by the Company on its behalf. Amounts owed to the Ultimate parent or other affiliated entities in relation to such payments made on the Company’s behalf are reflected within the Creditors balance within the balance sheet, as disclosed within Note 7. Such balances represent non-interest bearing, unsecured intercompany relationships between affiliates. Further, the Company has a Note Payable arrangement with Ultimate Parent, under which the Company owed approximately GBP 134 thousand at 31 December 2024.
£
Balance at 01 January 2024 0
Balance at 31 December 2024 134,000

X-ENERGY UK HOLDINGS, LTD

Notes to the Financial Statements

for the Period Ended 31 December 2024

8. Post balance sheet events

The Company evaluated its 31 December 2024 financial statements for subsequent events through 1 August 2025, the date the financial statements were available to be issued. The Company is not aware of any subsequent events which would require recognition or disclosure in the financial statements.