ACCOUNTS - Final Accounts

Registered number: 15350441

Eliassen Group UK Limited

Financial statements

Information for filing with the registrar

For the Period Ended 31 December 2024

Eliassen Group UK Limited

Registered number: 15350441

Balance Sheet

As at 31 December 2024

		2024
Note		£


Current assets
Debtors: amounts falling due within one year	4	10,955
Cash at bank and in hand	5	16,067
		27,022
Creditors: amounts falling due within one year	6	(15,917)
Net current assets			11,105
Total assets less current liabilities			11,105
Provisions for liabilities
Deferred tax		(450)
			(450)
Net assets			10,655

Capital and reserves
Called up share capital	8	1
Profit and loss account	9	10,654
		10,655

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 December 2025.

Todd Keebaugh

Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

Eliassen Group UK Limited

Notes to the Financial Statements

For the Period Ended 31 December 2024

1.	General information

Eliassen Group UK Ltd is a private company limited by shares incorporated in the United Kingdom. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements of Eliassen Group UK Ltd have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The directors of Eliassen Group UK Limited have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future.

This conclusion is based on the support of the parent company, Eliassen Group LLC, which has provided written confirmation of its intention to provide financial assistance to Eliassen Group Ireland, if required, for at least the next 12 months from the date of approval of these financial statements. The Directors have reviewed the financial position, resources, and forecasts of the parent company and are confident in its ability to fulfill this commitment.

Accordingly, Eliassen Group UK Limited continues to adopt the going concern basis in preparing the financial statements.

Page 2

Eliassen Group UK Limited

Notes to the Financial Statements

For the Period Ended 31 December 2024

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

Eliassen Group UK Limited

Notes to the Financial Statements

For the Period Ended 31 December 2024

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

Eliassen Group UK Limited

Notes to the Financial Statements

For the Period Ended 31 December 2024

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7

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.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

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.

Page 5

Eliassen Group UK Limited

Notes to the Financial Statements

For the Period Ended 31 December 2024

2.Accounting policies (continued)

2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

3.	Employees
	Staff costs were as follows:
		31 December
		2024
		£

	Wages and salaries	122,400
	Social security costs	15,377
	Cost of defined contribution scheme	8,173
		145,950

The average monthly number of employees, including the directors, during the period was as follows:

			31 December
			2024
			No.

		Directors	3

Page 6

Eliassen Group UK Limited

Notes to the Financial Statements

For the Period Ended 31 December 2024

Debtors

					2024
					£


	Amounts owed by group undertakings	10,424
	Other debtors	531
		10,955

5.	Cash and cash equivalents
		2024
		£

	Cash at bank and in hand	16,067
		16,067

6.	Creditors: Amounts falling due within one year
		2024
		£

	Corporation tax	4,271
	Accruals and deferred income	11,646
		15,917

7.	Deferred taxation

		2024
		£

	Charged to profit or loss	(450)
	At end of year	(450)

Page 7

Eliassen Group UK Limited

Notes to the Financial Statements

For the Period Ended 31 December 2024

7.Deferred taxation (continued)

	The deferred taxation balance is made up as follows:
					2024
					£

	Deferred tax liability	(450)
		(450)

8.	Share capital
		2024
		£

		Allotted, called up and fully paid

		1 Ordinary Share of £1.00	1

Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other
adjustments.

10.	Controlling party

The ultimate controlling party is Eliassen Group, LLC.

11.	Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2024 was unqualified.

The audit report was signed on 10 December 2025 by Adrian Patton (Senior Statutory Auditor) on behalf of Sumer Auditco NI Ltd.

Page 8