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Registration number: SC332068

OSM Crew Management Aberdeen Limited
Annual Report and Financial Statements
for the Year Ended 31 December 2025

OSM Crew Management Aberdeen Limited

Contents

Company Information | 1
Director's Report | 2 to 3
Statement of Director's Responsibilities | 4
Independent Auditor's Report | 5 to 8
Statement of Income and Retained Earnings | 9
Statement of Financial Position | 10
Notes to the Financial Statements | 11 to 16

OSM Crew Management Aberdeen Limited

Company Information

Director | J Tallaksen

Registered office | Bluesky Business Space Westpoint House Prospect Road, Arnhall Business Park Westhill Aberdeenshire AB32 6FJ

Independent auditor | Shaw Gibbs (Audit) Limited Statutory AuditorSalatin House 19 Cedar Road Sutton Surrey SM2 5DA

OSM Crew Management Aberdeen Limited

Director's Report for the Year Ended 31 December 2025

The director presents his annual report on the affairs of OSM Crew Management Aberdeen Ltd, together with the financial statements and the independent auditor's report for the year ended 31 December 2025.

Principal activity

The principal activity of the company is the provision of crew management services.

Director of the company

The director who served throughout the year and up to the date of authorisation of this report was as follows:

J Tallaksen

Going concern

The director has considered the company’s financial position, liquidity and future performance together with financial projections for the company and over the foreseeable future and has also reviewed the ongoing committed financial support from the company's parent undertaking and is confident that this will be available for the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, he continues to adopt the going concern basis in preparing the company’s financial statements.
OSM Crew Management Aberdeen Limited is reliant on the support of OSM International Holding as the parent company which is committed to the UK market and has demonstrated its support through a letter of support.

Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.

Disclosure of information to the auditors

The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information (as defined by section 418 of the Companies Act 2006) and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.

Reappointment of auditors

The auditors Shaw Gibbs (Audit) Limited are deemed to be reappointed under section 487(2) of the Companies Act 2006.

OSM Crew Management Aberdeen Limited

Director's Report for the Year Ended 31 December 2025 (continued)

Small companies provision statement

The director has taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the director's report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

Approved and authorised by the director on 2 April 2026

......................................... J Tallaksen Director

OSM Crew Management Aberdeen Limited

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent; and

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

OSM Crew Management Aberdeen Limited

Independent Auditor's Report to the member of
OSM Crew Management Aberdeen Limited

Opinion

We have audited the financial statements of OSM Crew Management Aberdeen Limited (the 'company') for the year ended 31 December 2025, which comprise the Statement of Income and Retained Earnings, Statement of Financial Position, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• | give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its loss for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

OSM Crew Management Aberdeen Limited

Independent Auditor's Report to the member of
OSM Crew Management Aberdeen Limited (continued)

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• | the information given in the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Director's Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
• | the financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of director's remuneration specified by law are not made; or
• | we have not received all the information and explanations we require for our audit; or
• | the director was not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of the director

As explained more fully in the Statement of Director's Responsibilities [set out on page 4], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

OSM Crew Management Aberdeen Limited

Independent Auditor's Report to the member of
OSM Crew Management Aberdeen Limited (continued)

The extent to which the audit was considered capable of detecting irregularities including fraud

| Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
• | the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
• | we obtained an understanding of the legal and regulatory frameworks that the company operates in, and identified the laws and regulations applicable to the company through discussions with directors and other management, and from our cumulative audit and commercial knowledge and experience of the company;
• | we focused on specific laws and regulations which we considered may have a direct material effect on the determination of material amounts and disclosures in the financial statements or the operations of the company, including the Companies Act 2006, The Equality Act 2010, taxation legislation, anti-bribery, employment law and health and safety legislation. We also considered and identified laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty, including the Bribery Act and the Data Protection Act 2018;
• | we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
• | identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
| We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
• | making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
• | considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
| We are also required to perform specific procedures to respond to the risk of management bias and override of controls. To address this, we performed analytical procedures to identify any unusual or unexpected relationships and tested journal entries to identify unusual transactions.
| In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
• | agreeing financial statements to disclosures underlying supporting documentation;
• | enquiring of management as to actual and potential litigation and claims; and
• | reviewing correspondence with HMRC, analysing legal costs to ascertain if there have been instances of non-compliance with laws and regulations.

OSM Crew Management Aberdeen Limited

Independent Auditor's Report to the member of
OSM Crew Management Aberdeen Limited (continued)

| There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company’s member, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s member those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s member as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Leanne Humphreys FCCA (Senior Statutory Auditor)
For and on behalf of Shaw Gibbs (Audit) Limited, Statutory Auditor
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

2 April 2026

OSM Crew Management Aberdeen Limited

Statement of Income and Retained Earnings
for the Year Ended 31 December 2025

| Note | 2025 £ | 2024 £
Revenue |  | - | -
Administrative expenses |  | 12,731 | (5,665)
Operating profit/(loss) |  | 12,731 | (5,665)
Interest receivable and similar income |  | (8,757) | 129,899
Interest payable and similar charges |  | (53,203) | (67,855)
|  | (61,960) | 62,044
(Loss)/profit before tax |  | (49,229) | 56,379
Taxation | 4 | 9,832 | (11,190)
(Loss)/profit for the financial year |  | (39,397) | 45,189
Retained earnings brought forward |  | 135,756 | 90,567
Retained earnings carried forward |  | 96,359 | 135,756

OSM Crew Management Aberdeen Limited

(Registration number: SC332068)
Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Current assets |  |  |
Receivables | 5 | 1,490,109 | 1,428,881
Payables: Amounts falling due within one year | 6 | (1,393,749) | (1,293,124)
Net assets |  | 96,360 | 135,757
Equity |  |  |
Called up share capital | 7 | 1 | 1
Retained earnings | 7 | 96,359 | 135,756
Shareholder's funds |  | 96,360 | 135,757

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements of OSM Crew Management Aberdeen Limited were approved and authorised for issue by the director on 2 April 2026

.........................................

J Tallaksen
Director

OSM Crew Management Aberdeen Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025

1 | General information

OSM Crew Management Aberdeen Limited (the 'company') is a private company limited by share capital, registered in Scotland under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the director's report on page 2.

2 | Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The director has considered the company’s financial position, liquidity and future performance together with financial projections for the company and over the foreseeable future and has also reviewed the ongoing committed financial support from the company's parent undertaking and is confident that this will be available for the foreseeable future. After making enquiries, the director is satisfied that the company has sufficient resources to continue in operation for the foreseeable future, being at least 12 months from the date of signing the financial statements. Accordingly, he continues to adopt the going concern basis in preparing the company’s financial statements.
OSM Crew Management Aberdeen Limited is reliant on the support of OSM International Holding as the parent company which is committed to the UK market and has demonstrated its support through a letter of support.

Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

OSM Crew Management Aberdeen Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Summary of disclosure exemptions

The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. The company is consolidated in the financial statements of OSM Thome Ltd, which may be obtained from OSM House, 22 Amathountos Avenue, Agios Tychonas, 4532, Limassol, Cyprus. Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the director in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities, net of value added tax.
Revenue is recognised when the company has a contractual right to receive revenue for work undertaken.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

OSM Crew Management Aberdeen Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

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 the 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 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.

Group cash pool arrangements

The company participates in a group cash pooling arrangement operated by OSM Thome Ltd.
Under the terms of the arrangement, the company’s surplus cash is automatically transferred to the pool and may be offset against overdraft positions of other group companies. Amounts receivable from the pool are presented as intercompany receivables, and amounts payable to the pool are presented as intercompany borrowings. These are measured initially at fair value (normally the transaction amount) and subsequently at amortised cost using the effective interest method.
Interest income or expense is recognised in profit or loss on an accruals basis, in accordance with the
terms of the pooling agreement.

Receivables

Trade and other receivables that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or that constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently at amortised cost, net of impairment.

Payables

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade and other payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade and other payables that are payable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be paid. Those that are payable after more than one year or that constitute a financing transaction are recorded initially at transaction price and subsequently at amortised cost using the effective interest method.

OSM Crew Management Aberdeen Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3 | Staff numbers

The company had no employees during the current and preceding year.

4 | Taxation

Tax charged/(credited) in the income statement

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | (9,832) | 11,190

The standard rate of UK corporation tax applied to the reported (loss)/profit before tax for the year is 25% (2024 - 25%).
The difference between the total tax (credit)/charge shown above and the amount calculated by applying the standard rate of UK corporation tax to the (loss)/profit before tax is as follows:

| 2025 £ | 2024 £
(Loss)/profit before tax | (49,229) | 56,379
Corporation tax at standard rate | (12,307) | 14,095
Effect of tax losses | 2,475 | -
Tax decrease from effect of marginal relief | - | (2,905)
Total tax (credit)/charge | (9,832) | 11,190

OSM Crew Management Aberdeen Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025 (continued)

5 | Receivables

| 2025 £ | 2024 £
Amount owed by group undertaking | - | 6,112
Amount owed by group undertaking (cashpool) | 1,474,221 | 1,417,768
Other receivables | 5,091 | 4,036
Corporation tax asset | 10,797 | 965
| 1,490,109 | 1,428,881

Included within the amount owed by group undertaking is an amount of £1,474,221 (2024: £1,417,768) which relates to cash held on deposit that is legally held in the name of the group undertaking. These amounts can be accessed by the company within one working day and are available for immediate use in relation to the operations of the company.
The amount owed by group undertaking disclosed as falling within one year is unsecured, payable on demand and is non-interest bearing.

6 | Payables

| 2025 £ | 2024 £
Due within one year |  |
Trade payables | - | 207
Amount owed to group undertaking (cashpool) | 1,387,499 | 1,268,563
Social security and other taxes | - | 19,754
Accruals | 6,250 | 4,600
| 1,393,749 | 1,293,124

Included within the amount owed to group undertaking is an amount of £1,387,499 (2024: £1,268,563) which relates to cash held on deposit that is legally held in the name of the group undertaking. These amounts can be accessed by the company within one working day and are available for immediate use in relation to the operations of the company.

OSM Crew Management Aberdeen Limited

Notes to the Financial Statements
for the Year Ended 31 December 2025 (continued)

7 | Share capital and reserves

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary share of £1 | 1 | 1 | 1 | 1

The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other
adjustments.

8 | Related party transactions

The company is a wholly owned subsidiary member of its group and has therefore taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group.
There were no other related party transactions to disclose.

9 | Parent and ultimate parent undertaking

The company's immediate parent is OSM International Holding Ltd, incorporated in OSM House, 22 Amathountos Avenue, Agios Tychonas, 4532, Limassol, Cyprus.
The most senior parent entity producing publicly available financial statements is OSM Thome Ltd. These financial statements are available upon request from OSM House, 22 Amathountos Avenue, Agios Tychonas, 4532, Limassol, Cyprus.

10 | Events after the financial period

There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.