IRIS Accounts Production v25.4.12.37 15479804 Board of Directors Board of Directors Board of Directors 1.1.25 31.12.25 31.12.25 2.3.2026 false true false false true false Auditors Opinion iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 15479804 2024-12-31 15479804 2025-12-31 15479804 2025-01-01 2025-12-31 15479804 2024-02-09 15479804 2024-02-10 2024-12-31 15479804 2024-12-31 15479804 ns15:EnglandWales 2025-01-01 2025-12-31 15479804 ns14:PoundSterling 2025-01-01 2025-12-31 15479804 ns10:Director1 2025-01-01 2025-12-31 15479804 ns10:Director2 2025-01-01 2025-12-31 15479804 ns10:Director3 2025-01-01 2025-12-31 15479804 ns10:PrivateLimitedCompanyLtd 2025-01-01 2025-12-31 15479804 ns10:SmallEntities 2025-01-01 2025-12-31 15479804 ns10:Audited 2025-01-01 2025-12-31 15479804 ns10:SmallCompaniesRegimeForDirectorsReport 2025-01-01 2025-12-31 15479804 ns10:SmallCompaniesRegimeForAccounts 2025-01-01 2025-12-31 15479804 ns10:FullAccounts 2025-01-01 2025-12-31 15479804 ns10:RegisteredOffice 2025-01-01 2025-12-31 15479804 ns5:CurrentFinancialInstruments 2025-12-31 15479804 ns5:CurrentFinancialInstruments 2024-12-31 15479804 ns5:ShareCapital 2025-12-31 15479804 ns5:ShareCapital 2024-12-31 15479804 ns5:RetainedEarningsAccumulatedLosses 2025-12-31 15479804 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 15479804 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-12-31 15479804 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-31

REGISTERED NUMBER: 15479804 (England and Wales)

| MERCATOR CREWING UK LIMITED |

| FINANCIAL STATEMENTS |

| FOR THE YEAR ENDED 31 DECEMBER 2025 |

MERCATOR CREWING UK LIMITED (REGISTERED NUMBER: 15479804)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 3 |

MERCATOR CREWING UK LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2025

| DIRECTORS: | L J Vail

| J Ostensjo

| L Poore

| REGISTERED OFFICE: | Second Floor, Testwood House

| Testwood Park, Salisbury Road

| Totton

| Southampton

| Hampshire

| SO40 2RW

| REGISTERED NUMBER: | 15479804 (England and Wales)

| BANKERS: | HSBC Bank plc

| 55 Above Bar Street

| Southampton

| Hampshire

| SO14 7DZ

MERCATOR CREWING UK LIMITED (REGISTERED NUMBER: 15479804)

BALANCE SHEET

31 DECEMBER 2025

2025 | 2024 |

| Notes | £ | £

CURRENT ASSETS

Debtors | 4 | 117,007 |  | 5,998 |  |

Cash at bank | 95,319 |  | 172,152 |  |

212,326 |  | 178,150 |  |

CREDITORS

Amounts falling due within one year | 5 | (210,888 | ) | (178,211 | ) |

NET CURRENT ASSETS/(LIABILITIES) | 1,438 |  | (61 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 1,438 |  | (61 | ) |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Retained earnings | 1,437 |  | (62 | ) |

1,438 |  | (61 | ) |

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2026 and were signed on its behalf by:

L J Vail - Director | J Ostensjo - Director

L Poore - Director

MERCATOR CREWING UK LIMITED (REGISTERED NUMBER: 15479804)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1. | STATUTORY INFORMATION

| Mercator Crewing UK 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 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

| 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

| The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

| The company has taken advantage of the small companies exemption not to prepare consolidated accounts.

| Going concern

| The company meets its day to day working capital requirements through financial support received from the parent undertaking. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this financial support. The group have indicated that this support will continue until at least 12 months post the date of signing these accounts.

| Turnover

| Turnover relates to staff and other employment related costs recharged at cost along with management fees.

| 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 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 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.

| Cash and cash equivalents

| Cash and cash equivalents are basic financial instruments and include cash in hand and deposits held at call with banks.

MERCATOR CREWING UK LIMITED (REGISTERED NUMBER: 15479804)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Leases

| Where no rights or obligations are conferred in relation to leased assets, no legal costs or liabilities are recorded in the financial statements in line with the substance of the agreement.

| Interest received in respect of the hire of vessels under finance lease arrangements is recognised in the profit and loss account over the term of the lease in proportion to the balance of future rentals receivable. Assets subject to these finance leases are not included in the fixed assets. The amounts due under such contracts, less provision for doubtful debts, are included in the balance sheet as debtors.

| Operating lease arrangements

| Rentals applicable to operating leases, where substantially all the benefits and risks of ownership remain with the lessor, are charged against profits on a straight line basis over the period of the lease.

| Basic financial assets

| Basic financial assets, which include trade, other debtors, loans to fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

| Classification of 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 deducting all its liabilities.

| Basic financial liabilities

| Basis financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future payments discounted at a market rte of interest.

| Employee benefits

| The costs of short-term employee benefits are recognised as a liability and an expense.

| The cost of any unused holiday entitlement is recognised in the period in which the employee's services arereceived.

| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

| Retirement Benefits

| For defined contribution schemes the amount charged the profit or loss is the contributions payable in the year. Differences between the contributions payable and the contributions actually paid are shown as either accruals or prepayments.

| Foreign exchange

| Transaction in currencies other than the functional currency (foreign currency) are initially recorded at the exchange rate prevailing on the date of the transaction.

| Monetary assets and liabilities denominated in the foreign currencies are translated at the rate of exchange ruling at the report date. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate ruling at the date of the transaction, or, if the asset or liability is measured at fair value, the rate when that fair value was determined.

MERCATOR CREWING UK LIMITED (REGISTERED NUMBER: 15479804)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Taxation

| The tax expense represents the sum of of the current tax expense and deferred tax expenses. Current tax assets are recognised when tax paid exceeds the tax payable.

| Current and deferred tax is charged or credited to the profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transactions or event it related to and is also charged or credited to other comprehensive income or equity.

| Current tax assets and current tax liabilities are deferred tax assets and deferred tax liabilities are offset, it and only if there is a legal enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the assets and settle the liability simultaneously.

| Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting period.

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have accrued at the balance sheet date.

| Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 75 (2024 - 71 ) .

4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade debtors | 81,836 |  | 1,222 |  |

| Amounts owed by group undertakings | 25,379 |  | - |  |

| Other debtors | 9,792 |  | 4,776 |  |

117,007 |  | 5,998 |  |

5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

| £ | £

| Trade creditors | 9,754 |  | - |  |

| Amounts owed to group undertakings | 5,894 |  | 21,394 |  |

| Taxation and social security | 187,239 |  | 133,896 |  |

| Other creditors | 8,001 |  | 22,921 |  |

210,888 |  | 178,211 |  |

MERCATOR CREWING UK LIMITED (REGISTERED NUMBER: 15479804)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2025

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

| The Report of the Auditors was unqualified.

| G Brown FCCA ACA (Senior Statutory Auditor)

| for and on behalf of Hopper Williams & Bell Limited

7. | OPERATING LEASES

| Total operating lease commitments as at 31 December 2025 were £18,970 (2024: £16,260) in relation to office rental.

8. | PARENT COMPANY

| Verteks AS is regarded by the directors as being the company's ultimate parent company, a company incorporated in Norway.

| The smallest group for which consolidated accounts are drawn up of which the company is a member is Johannes Østensjø dy AS.

| The consolidated accounts can be obtained from the parent company's registered office of Smedasundet 97B, 5525 Haugesund, Norway.