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Registered number: 10766974 N&P UK Production Holding Ltd Financial statements For the year ended 30 September 2025
N&P UK Production Holding Ltd Registered number: 10766974 Balance Sheet As at 30 September 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 13,446,307 |  | 14,063,245
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 3,070,921 |  | 1,606,087 |
Cash at bank and in hand |  | 1,943 |  | 105,237 |
|  | 3,072,864 |  | 1,711,324 |
Creditors: amounts falling due within one year | 6 | (789,863) |  | (40,334) |
Net current assets |  |  | 2,283,001 |  | 1,670,990
Net assets |  |  | 15,729,308 |  | 15,734,235
Capital and reserves |  |  |  |  |
Called up share capital | 7 |  | 15,839,600 |  | 15,839,600
Profit and loss account |  |  | (110,292) |  | (105,365)
|  |  | 15,729,308 |  | 15,734,235
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. 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 statement of income and retained earnings 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 by:
S Jennissen
Director
Date: 3 February 2026
The notes on pages 2 to 8 form part of these financial statements. Page 1
N&P UK Production Holding Ltd Notes to the Financial Statements For the year ended 30 September 2025
1. | General information
N&P UK Production Holding Ltd is a private company limited by shares and is incorporated in England with the registration number 10766974. The address of the registered office is Century Wharf, Crayford Creek, Dartford, Kent, DA1 4QG. 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 requirements and the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The financial statements are rounded to the nearest pound. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company meets its day to day working capital requirements through loans from fellow subsidiaries within the N+P Group. These fellow subsidiaries will continue to financially support the company for its working capital requirements until the company is able to pay its own obligations in the ordinary course of business. After making enquiries and considering the uncertainties, the directors have formed a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
| 2.3 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is pounds sterling. 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. Page 2
N&P UK Production Holding Ltd Notes to the Financial Statements For the year ended 30 September 2025 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: 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 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.7 | Taxation
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 is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 3
N&P UK Production Holding Ltd Notes to the Financial Statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.8 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Freehold property | - | 4% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.9 | 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.
| 2.10 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Page 4
N&P UK Production Holding Ltd Notes to the Financial Statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Page 5
N&P UK Production Holding Ltd Notes to the Financial Statements For the year ended 30 September 2025 2.Accounting policies (continued)
| 2.10 | Financial instruments (continued)
Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
3. | Employees
| The Company has no employees other than the Directors, who did not receive any remuneration (2024 - £NIL).
4. | Tangible fixed assets
|  | Freehold property
|  | £
| Cost |
| At 1 October 2024 | 16,068,195
| At 30 September 2025 | 16,068,195
| Depreciation |
| At 1 October 2024 | 2,004,950
| Charge for the year | 616,938
| At 30 September 2025 | 2,621,888
| Net book value |
| At 30 September 2025 | 13,446,307
| At 30 September 2024 | 14,063,245
| Included within freehold property is an amount totaling £650,000 allocated to freehold land which is not depreciated.
Page 6
N&P UK Production Holding Ltd Notes to the Financial Statements For the year ended 30 September 2025
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed by group undertakings | 3,070,921 | 1,606,087
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | - | 2,520
| Amounts owed to group undertakings | 754,479 | -
| Other taxation and social security | 35,384 | 34,664
| Accruals and deferred income | - | 3,150
|  | 789,863 | 40,334
7. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 15,839,600 (2024 - 15,839,600) Ordinary shares of £1 each | 15,839,600 | 15,839,600
8. | Related party transactions
| The company is exempt from disclosing related party transactions with other companies that are wholly owned within the group. All other related party transactions during the current and prior periods, including key management personnel compensation, were made under normal market conditions.
9. | Auditor's information
The auditor's report on the financial statements for the year ended 30 September 2025 was unqualified. The audit report was signed on 5 February 2026 by Mark Attwood FCCA (Senior Statutory Auditor) on behalf of Kreston Reeves Audit LLP. Page 7
N&P UK Production Holding Ltd Notes to the Financial Statements For the year ended 30 September 2025
10. | Controlling party
The Company is a wholly owned subsidiary of N&P TSP Holdings Ltd, a company incorporated in England. The Company is part of the the N&P Group, the parent of which, is N&P Beheer BV. N&P Beheer BV is the smallest group for which consolidated financial statements are prepared. Copies of the consolidated financial statements are publicly available from the company's registered office at Berkstraat 28, 5854GW Bergen, The Netherlands. The N&P Group is majority owed by Mercuria Energy Group Limited, a limited liability company incorporated in Republic of Cyprus. Mercuria Energy Group Limited and its subsidiaries are referred to as the “Mercuria Group”. The consolidated financial statements of Mercuria Group, prepared in accordance with International Financial Report Standards as adopted by EU, are available to the public and can be found with the Cyprus Register of Commerce or can be obtained from 8 Simou Menardou Street, Ria Court 8, 3rd Floor Office 302, 6015 Lamaca, Cyprus. Mercuria Energy Group Limited is controlled by MDJ Partnership registered in Guernsey which is the ultimate controlling party.
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