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REGISTERED NUMBER: 07804453 (England and Wales)

| Financial Statements |

| for the Year Ended 31 December 2025 |

| for |

| SUBSEA ENERGY SOLUTIONS LTD |

SUBSEA ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 07804453) |

Contents of the Financial Statements

for the Year Ended 31 December 2025

Page |

| Company Information | 1 |

| Abridged Statement of Financial Position | 2 |

| Notes to the Financial Statements | 3 |

| SUBSEA ENERGY SOLUTIONS LTD |

Company Information

for the Year Ended 31 December 2025

| Director: | P A R Stanyon

| Registered office: | Unit 4 Chartermark Way

| Colburn Business Park

| Catterick Road

| Catterick Garrison

| North Yorkshire

| DL9 4QJ

| Registered number: | 07804453 (England and Wales)

| Senior statutory auditor: | Simon Davies MMath FCA

| Auditors: | Mitchell Gordon LLP

| Accountants and Statutory Auditor

| 43 Coniscliffe Road

| Darlington

| Co. Durham

| DL3 7EH

SUBSEA ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 07804453) |

Abridged Statement of Financial Position

31 December 2025

| 31/12/25 | 31/12/24 |

| Notes | £ | £ | £ | £ |

Fixed assets

Intangible assets | 4 | 76,431 |  | 60,641 |  |

Tangible assets | 5 | 247,839 |  | 406,467 |  |

324,270 |  | 467,108 |  |

Current assets

Stocks | 24,152 |  | 27,137 |  |

Debtors | 6 | 802,961 |  | 845,506 |  |

Cash at bank and in hand | 172,838 |  | 274,598 |  |

999,951 |  | 1,147,241 |  |

Creditors

Amounts falling due within one year | 799,649 |  | 351,795 |  |

Net current assets | 200,302 |  | 795,446 |  |

Total assets less current liabilities | 524,572 |  | 1,262,554 |  |

Creditors

Amounts falling due after more than one year | - |  | (691,142 | ) |

Provisions for liabilities | (32,683 | ) | (34,754 | ) |

Net assets | 491,889 |  | 536,658 |  |

Capital and reserves

Called up share capital | 1 |  | 1 |  |

Capital redemption reserve | 1 |  | 1 |  |

Retained earnings | 491,887 |  | 536,656 |  |

Shareholders' funds | 491,889 |  | 536,658 |  |

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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2026 and were signed by:

P A R Stanyon - Director

SUBSEA ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 07804453) |

Notes to the Financial Statements

for the Year Ended 31 December 2025

1. | STATUTORY INFORMATION

| Subsea Energy Solutions Ltd 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

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 have been prepared under the going concern basis of accounting, this is on the basis of the forecasts, current management accounts and discussions on expected future plans and group support there appears to be no significant issues with going concern for the foreseeable future.

| Related party exemption

| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

| Changes in accounting policies

| Effective from 1 January 2025, the Company revised its depreciation policy for Patents and licenses. Previously, these assets were depreciated using the straight line method over 8 years. To better reflect the expected pattern of consumption of future economic benefits specifically, the expected length of the patents management adopted the straight line method over 13 years.

| This change has been accounted for prospectively. As a result of this change in estimate, the depreciation expense for the year ended 31 December 2025 is lower by £17,961 compared to the previous method.

| Turnover

| Turnover represents the value of work carried out during the year including amounts not yet invoiced, excluding value added tax. Income is being recognised according to the stage of completion of work done.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Patents and licences are being amortised evenly over their estimated useful life of thirteen years.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

| Improvements to property | - | 2% on cost and Straight line over 20 years

| Plant and machinery | - | At varying rates

| Fixtures and fittings | - | 15% on reducing balance

| Motor vehicles | - | 25% on reducing balance and 20% on reducing balance

| Computer equipment | - | 33% on cost

| Stocks

| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

SUBSEA ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 07804453) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

2. | ACCOUNTING POLICIES - continued

| 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 statement of financial position date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

| Foreign currencies

| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

| Hire purchase and leasing commitments

| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

| Pension costs and other post-retirement benefits

| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 19 (2024 - 19 ) .

SUBSEA ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 07804453) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

4. | INTANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 January 2025 | 94,407 |  |

| Additions | 15,509 |  |

| Disposals | (4,600 | ) |

| At 31 December 2025 | 105,316 |  |

| AMORTISATION

| At 1 January 2025 | 33,766 |  |

| Amortisation for year | (4,584 | ) |

| Eliminated on disposal | (297 | ) |

| At 31 December 2025 | 28,885 |  |

| NET BOOK VALUE

| At 31 December 2025 | 76,431 |  |

| At 31 December 2024 | 60,641 |  |

5. | TANGIBLE FIXED ASSETS

| Totals

£ |

| COST

| At 1 January 2025 | 1,033,246 |  |

| Additions | 116,130 |  |

| Disposals | (224,392 | ) |

| At 31 December 2025 | 924,984 |  |

| DEPRECIATION

| At 1 January 2025 | 626,779 |  |

| Charge for year | 114,590 |  |

| Eliminated on disposal | (64,224 | ) |

| At 31 December 2025 | 677,145 |  |

| NET BOOK VALUE

| At 31 December 2025 | 247,839 |  |

| At 31 December 2024 | 406,467 |  |

SUBSEA ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 07804453) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

5. | TANGIBLE FIXED ASSETS - continued

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Totals

£ |

| COST

| At 1 January 2025 | 187,695 |  |

| Disposals | (187,695 | ) |

| At 31 December 2025 | - |  |

| DEPRECIATION

| At 1 January 2025 | 10,949 |  |

| Charge for year | 18,769 |  |

| Eliminated on disposal | (29,718 | ) |

| At 31 December 2025 | - |  |

| NET BOOK VALUE

| At 31 December 2025 | - |  |

| At 31 December 2024 | 176,746 |  |

6. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |

| 31/12/25 |  | 31/12/24

£ | £ |

| Amounts owed by group undertakings | 59,418 |  | - |  |

7. | LEASING AGREEMENTS

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

| 31/12/25 |  | 31/12/24 |

£ | £ |

| Net obligations repayable:

| Within one year | - |  | 37,539 |  |

| Between one and five years | - |  | 140,771 |  |

- |  | 178,310 |  |

| Non-cancellable |

| operating leases |

| 31/12/25 |  | 31/12/24

£ | £ |

| Within one year | 36,000 |  | 36,000 |  |

| Between one and five years | 3,000 |  | 39,000 |  |

39,000 |  | 75,000 |  |

SUBSEA ENERGY SOLUTIONS LTD (REGISTERED NUMBER: 07804453) |

Notes to the Financial Statements - continued

for the Year Ended 31 December 2025

8. | SECURED DEBTS

| The following secured debts are included within creditors:

| 31/12/25 |  | 31/12/24

£ | £ |

| Hire purchase contracts | - |  | 178,310 |  |

| The debts are secured against the assets to which they relate.

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

| The Report of the Auditors was unqualified.

| Simon Davies MMath FCA (Senior Statutory Auditor)

| for and on behalf of Mitchell Gordon LLP

10. | RELATED PARTY DISCLOSURES

| The immediate parent company is Subsea Energy Solutions Holdings Ltd, this company does not prepare consolidated financial statements. The ultimate parent company is Topp Holdings GmbH. The company's registered office is Martinistraße 57, 28195 Bremen, Germany.