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REGISTERED NUMBER: 14749573 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Nansen UK Ltd

Nansen UK Ltd (Registered number: 14749573)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Nansen UK Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: I Zu



SECRETARY: CC Secretaries Limited



REGISTERED OFFICE: 1st Floor, Suite B
One Suffolk Way
Sevenoaks
Kent
TN13 1YL



REGISTERED NUMBER: 14749573 (England and Wales)



SENIOR STATUTORY AUDITOR: Philippa Duckworth FCCA, BSc



AUDITORS: WP Audit Limited
TOR
Saint-Cloud Way
Maidenhead
Berkshire
SL6 8BN

Nansen UK Ltd (Registered number: 14749573)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,511 -

CURRENT ASSETS
Debtors 5 3,502 4,053
Investments 6 167,864 122,662
Cash at bank - 150,529
171,366 277,244
CREDITORS
Amounts falling due within one year 7 412,297 311,263
NET CURRENT LIABILITIES (240,931 ) (34,019 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(236,420

)

(34,019

)

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (236,520 ) (34,119 )
SHAREHOLDERS' FUNDS (236,420 ) (34,019 )

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 director and authorised for issue on 12 August 2025 and were signed by:





I Zu - Director


Nansen UK Ltd (Registered number: 14749573)

Notes to the Financial Statements
for the Year Ended 31 December 2024


1. STATUTORY INFORMATION

Nansen UK Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.
In addition, despite the current net liability position, the parent Company Nansen Pte has indicated through a letter of support that it is not seeking repayment of the intercompany debt, as disclosed per Note 9 and will continue to support the Company to meet its obligations for at least 12 months from the date of approval of the accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The company does not make significant estimates and assumptions concerning the future.

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

Intercompany revenue recorded within these accounts is recognised annually in arrears in respect of services provided during the period to its parent Company Nansen Pte.

The Company currently does not have any other income type to recognise as it is pre-trading.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Straight line over 3 years

Financial instruments
Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and loss.

Taxation
Taxation for the year 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.

Nansen UK Ltd (Registered number: 14749573)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments are recorded initially at cost and revalued annually with any revalue gain /loss taken to the profit and loss account in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 4,776
At 31 December 2024 4,776
DEPRECIATION
Charge for year 265
At 31 December 2024 265
NET BOOK VALUE
At 31 December 2024 4,511

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 3,502 4,053

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 167,864 122,662

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 314 4,853
Amounts owed to group undertakings 283,919 210,949
Taxation and social security 28,898 53,615
Other creditors 99,166 41,846
412,297 311,263

Nansen UK Ltd (Registered number: 14749573)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Shares £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 January 2024 (34,119 )
Deficit for the year (202,401 )
At 31 December 2024 (236,520 )

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

The Report of the Auditors was unqualified.

Philippa Duckworth FCCA, BSc (Senior Statutory Auditor)
for and on behalf of WP Audit Limited

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Nansen Pte Ltd.

Their address is:

10 Anson Road 22-02
International Plaza
Singapore

12. SHARE-BASED PAYMENT TRANSACTIONS

The company has an equity settled option scheme.

During the period 3,466,629 options were granted to employees.
During the period 1,793,663 options were forfeited.
During the period no options were exercised.
During the period no options expired.
The company had 1,672,966 options outstanding at the end of the period.
The company has 1,222,292 exercisable options at the end of the period.

The fair value of the share options has been valued at £0.11 in accordance with the weighted average exercise price.

The total change in valuation of the vested options was £71,073 this was charged to the profit and loss. The total carrying amount is £71,073.