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Company No: 09640974 (England and Wales)

# ARC MARINE LTD

### Unaudited Financial Statements
For the financial year ended 31 December 2025
Pages for filing with the registrar

ARC MARINE LTD

## Unaudited Financial Statements

For the financial year ended 31 December 2025

Contents

ARC MARINE LTD

## STATEMENT OF FINANCIAL POSITION

As at 31 December 2025
ARC MARINE LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 480,652 |  | 553,593
Tangible assets | 4 | 310,162 |  | 88,807
Investments | 5 | 10 |  | 10
|  | 790,824 |  | 642,410
Current assets |  |  |  |
Stocks |  | 458 |  | 2,063
Debtors | 6 | 702,552 |  | 818,369
Cash at bank and in hand |  | 78,837 |  | 132,680
|  | 781,847 |  | 953,112
Creditors: amounts falling due within one year | 7 | ( 5,720,223) |  | ( 3,839,861)
Net current liabilities |  | (4,938,376) |  | (2,886,749)
Total assets less current liabilities |  | (4,147,552) |  | (2,244,339)
Creditors: amounts falling due after more than one year | 8 | ( 15,045) |  | ( 19,147)
Net liabilities |  | ( 4,162,597) |  | ( 2,263,486)
Capital and reserves |  |  |  |
Called-up share capital | 9 | 190 |  | 190
Share premium account |  | 434,219 |  | 434,219
Profit and loss account |  | ( 4,597,006 ) |  | ( 2,697,895 )
Total shareholder's deficit |  | ( 4,162,597) |  | ( 2,263,486)

For the financial year ending 31 December 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of ARC Marine Ltd (registered number: 09640974) were approved and authorised for issue by the Director on 05 May 2026. They were signed on its behalf by:

Mr Thomas Henry Holland Birbeck Director |

ARC MARINE LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025
ARC MARINE LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

ARC Marine Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Arc Marine The Beacon, Beacon Quay, Torquay, TQ1 2BG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £4,162,597. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

##### Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company, but are presented separately due to their size or incidence.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life, as shown below.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Development costs | 10 years straight line
Trademarks, patents and licences | 5 - 10 years straight line
Other intangible assets | 10 years straight line

###### Research and development

Research expenditure is written off as incurred. Development expenditure is also written off, except where the director is satisfied as to the technical, commercial and financial viability of individual projects. In such cases, the identifiable expenditure is capitalised as an intangible asset and amortised over the period during which the Company is expected to benefit. This period is ten years. Provision is made for any impairment.

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 10 years straight line
Plant and machinery | 4 years straight line
Vehicles | 25 % reducing balance
Fixtures and fittings | 4 years straight line
Computer equipment | 4 years straight line
Other property, plant and equipment | 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

##### Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Government grants

Grants with performance conditions are recognised in income only when those conditions are met.
Asset related grants are presented by deducting the grants from the related asset’s carrying amount.
A grant received before the recognition criteria are met is recognised as a liability.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 20 |  | 16

#### 3. Intangible assets

| Development costs |  | Trademarks, patents and licences |  | Other intangible assets |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 January 2025 | 465,705 |  | 233,198 |  | 6,000 |  | 704,903
At 31 December 2025 | 465,705 |  | 233,198 |  | 6,000 |  | 704,903
Accumulated amortisation |  |  |  |  |  |  |
At 01 January 2025 | 93,140 |  | 57,120 |  | 1,050 |  | 151,310
Charge for the financial year | 46,571 |  | 25,770 |  | 600 |  | 72,941
At 31 December 2025 | 139,711 |  | 82,890 |  | 1,650 |  | 224,251
Net book value |  |  |  |  |  |  |
At 31 December 2025 | 325,994 |  | 150,308 |  | 4,350 |  | 480,652
At 31 December 2024 | 372,565 |  | 176,078 |  | 4,950 |  | 553,593

#### 4. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Computer equipment |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 January 2025 | 0 |  | 175,719 |  | 13,500 |  | 15,046 |  | 52,855 |  | 0 |  | 257,120
Additions | 189,959 |  | 82,921 |  | 21,409 |  | 2,568 |  | 5,411 |  | 20,000 |  | 322,268
Disposals | 0 |  | ( 107,148) |  | 0 |  | ( 7,996) |  | ( 17,257) |  | 0 |  | ( 132,401)
At 31 December 2025 | 189,959 |  | 151,492 |  | 34,909 |  | 9,618 |  | 41,009 |  | 20,000 |  | 446,987
Accumulated depreciation |  |  |  |  |  |  |  |  |  |  |  |  |
At 01 January 2025 | 0 |  | 131,040 |  | 7,664 |  | 8,929 |  | 20,680 |  | 0 |  | 168,313
Charge for the financial year | 0 |  | 63,160 |  | 6,791 |  | 2,966 |  | 13,674 |  | 1,833 |  | 88,424
Disposals | 0 |  | ( 98,891) |  | 0 |  | ( 6,817) |  | ( 14,204) |  | 0 |  | ( 119,912)
At 31 December 2025 | 0 |  | 95,309 |  | 14,455 |  | 5,078 |  | 20,150 |  | 1,833 |  | 136,825
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 December 2025 | 189,959 |  | 56,183 |  | 20,454 |  | 4,540 |  | 20,859 |  | 18,167 |  | 310,162
At 31 December 2024 | 0 |  | 44,679 |  | 5,836 |  | 6,117 |  | 32,175 |  | 0 |  | 88,807

#### 5. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 January 2025 | 10
At 31 December 2025 | 10
Carrying value at 31 December 2025 | 10
Carrying value at 31 December 2024 | 10

#### 6. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 122,825 |  | 272,342
Amounts owed by Group undertakings | 121 |  | 121
Prepayments | 261,520 |  | 313,633
VAT recoverable | 75,177 |  | 34,920
Corporation tax | 60,000 |  | 101,505
Other debtors | 182,909 |  | 95,848
| 702,552 |  | 818,369

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 4,103 |  | 4,103
Trade creditors | 244,842 |  | 319,441
Amounts owed to Parent undertakings | 5,316,550 |  | 3,233,681
Accruals | 71,121 |  | 238,189
Other taxation and social security | 29,502 |  | 29,405
Other creditors | 54,105 |  | 15,042
| 5,720,223 |  | 3,839,861

There are no amounts included above in respect of which any security has been given.

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 15,045 |  | 19,147

There are no amounts included above in respect of which any security has been given.

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
18,990,000 Ordinary shares of £ 0.00001 each | 190 |  | 190

#### 10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 51,125 |  | 49,800
between one and five years | 180,000 |  | 6,125
Total future minimum lease payments under non-cancellable operating leases | 231,125 |  | 55,925

#### 11. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemption under Section 1AC.35 of FRS 102 and has not disclosed related party transactions with companies within the group.