REGISTERED NUMBER: 12680851 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SEVAN UK HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M M Kretz

A S Becker

REGISTERED OFFICE:

5th Floor 10 Finsbury Square

London

United Kingdom

EC2A 1AF

REGISTERED NUMBER:

12680851 (England and Wales)

AUDITORS:

Knox Cropper LLP

Chartered Accountants and Statutory Auditors

Office Suite 1

Haslemere House

Lower Street

Haslemere

Surrey

GU27 2PE

FIXED ASSETS

Investments

4

-

-

CURRENT ASSETS

Debtors

5

-

9,999

CREDITORS

Amounts falling due within one year

6

-

600,000

NET CURRENT LIABILITIES

-

(590,001

)

TOTAL ASSETS LESS CURRENT LIABILITIES

-

(590,001

)

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

(10,000

)

(600,001

)

-

(590,001

)

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 Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

A S Becker - Director

1.	STATUTORY INFORMATION

Sevan UK Holdings Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The financial statements are prepared in Sterling, which is the functional and presentational currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Preparation of consolidated financial statements

The financial statements contain information about Sevan UK Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries

The cost of the investment in the subsidiary has been impaired at the year end as Wyeth Project Services Limited has entered into voluntary liquidation.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

The company's operating subsidiaries ceased to trade during 2024 and the ultimate parent company Sevan Multi-Site Solutions Inc, has confirmed it will no longer provide financial support. As such, the business is not able to continue as a going concern. The going concern basis is not appropriate and the directors have therefore not prepared the financial statements on that basis.

Impairment of non-financial assets

(a) Goodwill

Goodwill recognised separately as an intangible asset is tested for impairment annually and whenever there is an indication that the goodwill may be impaired.

For the purposes of impairment testing of goodwill, goodwill is allocated to each of the company's

cash-generating-units ("CGU") expected to benefit from synergies arising from the business combination.

An impairment loss is recognised when the carrying amount of a CGU, including the goodwill, exceeds the

recoverable amount of the CGU. The recoverable amount of a CGU is the higher of the CGU's fair value less

cost to sell and value-in-use

The total impairment loss of a CGU is allocated first to reduce the carrying amount of goodwill allocated to the CGU and then to the other assets of the CGU pro-rata on the basis of the carrying amount of each asset in the CGU.

Am impairment loss on goodwill is recognised as an expense and in not reversed in the subsequent period.

(b) Intangible assets - Property, plant and equipment, investments in subsidiaries, associated companies and joint ventures.

Intangible assets, property, plant and equipment and investments in subsidiaries, associated companies and joint ventures are tested for impairment whenever there is any objective evidence or indication that these assets may be impaired.

For the purposes of impairment testing, the recoverable amount (i.e the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cash inflows that are largely independent of those from other assets. If this is the case, the recoverable amount is determined for the CGU to which the asset belongs.

If the recoverable amount of the asset (or CGU) is estimated to be less than its carrying amount, the carrying

amount of the asset (or CGU) is reduced to its recoverable amount.

The difference between the carrying value and recoverable amount is recognised as an impairment loss in profit or loss, unless the asset is carried at revalued amount, in which case, such impairment loss is treated as a revaluation decrease.

An impairment loss for an asset other than goodwill is reversed if, and only if, there has been a change in the

estimated used to determine the asset's recoverable amount since the last impairment loss was recognised. The carrying amount of this asset is increased to its revised recoverable amount that would have been determined (net of any accumulated depreciation or amortisation) had no impairment loss been recognised for the asset in prior years.

A reversal of impairment loss for an asset other than goodwill is recognised in profit or loss, unless the asset is

carried at revalued amount, in which case, such reversal is treated as revaluation increase. However, to the extent that an impairment loss on the same revalued asset was previously recognised as an expense, a reversal of that impairment is also credited to profit and loss.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

506,082

PROVISIONS

At 1 January 2024

and 31 December 2024

506,082

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

The investments held in Wyeth Project Services Limited and Sevan Multi-Site Solutions Limited have been impaired to and taken to a NIL value as post year end, the companies have ceased trading and are to be liquidated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

-

9,999

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed to group undertakings

-

600,000

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

The Report of the Auditors was unqualified.

We draw attention to Note 2 to the financial statements which explains that the company's operating subsidiaries ceased trading during the year following withdrawal of financial support from the ultimate parent company and the directors intend to liquidate the company. As such the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

J Holland Leader (Senior Statutory Auditor)

for and on behalf of Knox Cropper LLP

8.	PARENT/SUBSIDIARY RELATIONS

The parent company of the smallest group preparing consolidated financial statements is Sevan Multi-Site Solutions Inc and their registered office is 3025 Highland Parkway, Downers Grove, Illinois 60515, United States.