REGISTERED NUMBER: 13070509 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

NORDIC SEMICONDUCTOR UK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Elstad

C Skovly-Guttormsen

REGISTERED OFFICE:

7a Abbey Business Park

Monks Walk

Farnham

Surrey

GU9 8HT

REGISTERED NUMBER:

13070509 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

123,830

Tangible assets

5

373,683

636,150

373,683

759,980

CURRENT ASSETS

Debtors

6

814,957

372,313

Cash at bank

2,642,399

3,339,233

3,457,356

3,711,546

CREDITORS

Amounts falling due within one year

7

1,151,020

849,849

NET CURRENT ASSETS

2,306,336

2,861,697

TOTAL ASSETS LESS CURRENT LIABILITIES

2,680,019

3,621,677

PROVISIONS FOR LIABILITIES

69,131

119,247

NET ASSETS

2,610,888

3,502,430

CAPITAL AND RESERVES

Called up share capital

860,100

860,100

Share option reserve

32,009

32,009

Retained earnings

1,718,779

2,610,321

SHAREHOLDERS' FUNDS

2,610,888

3,502,430

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 18 May 2026 and were signed on its behalf by:

P Elstad - Director

C Skovly-Guttormsen - Director

1.	STATUTORY INFORMATION

Nordic Semiconductor 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

The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Turnover

Turnover represents costs recharged with mark-up, excluding value added tax, performed during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Goodwill

Intellectual property, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33.33% on cost

Fixtures and fittings

-

20% on cost

Plant and machinery

-

33.33% on cost

Financial instruments

The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost.. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits

Current and deferred tax assets and liabilities are not discounted and are recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Transactions denominated in foreign currencies are translated into sterling and recorded at the rate of exchange ruling at the date of the transaction. Balances at the year-end denominated in a foreign currency are translated into sterling at the rate of exchange ruling at the balance sheet date.

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.

Intragroup recharges

The company incurs costs throughout the year which relate to the UK based operation and these are recharged monthly to the group and shown as sales.

The recharges are calculated based on the total overheads of the UK company for the month, plus a 10% mark-up, in line with a formula which is defined in the intercompany agreement. At the end of the year, management reserve the right to make an adjustment to the recharge to ensure that the costs in each of the individual companies are in line with the turnover of that company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 54 (2024 - 73 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2025

and 31 December 2025

619,154

AMORTISATION

At 1 January 2025

495,324

Charge for year

123,830

At 31 December 2025

619,154

NET BOOK VALUE

At 31 December 2025

-

At 31 December 2024

123,830

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

1,693,300

Disposals

(193,206

)

At 31 December 2025

1,500,094

DEPRECIATION

At 1 January 2025

1,057,150

Charge for year

259,281

Eliminated on disposal

(190,020

)

At 31 December 2025

1,126,411

NET BOOK VALUE

At 31 December 2025

373,683

At 31 December 2024

636,150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Intercompany loan

279,192

-

Other debtors

101,816

51,351

Corporation tax

318,870

224,550

Prepayments and accrued income

115,079

96,412

814,957

372,313

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

41,657

2,255

Intercompany loan

-

92,232

Social security and other taxes

145,146

142,738

Accruals and deferred income

964,217

612,624

1,151,020

849,849

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

356,922

322,551

Between one and five years

1,084,255

743,433

In more than five years

1,642,410

-

3,083,587

1,065,984

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

The Report of the Auditors was unqualified.

Katharine Halsall (Senior Statutory Auditor)

for and on behalf of Caldwell Penn Limited, Statutory Auditor

10.	RELATED PARTY DISCLOSURES

As at the year end, the parent company owed Nordic Semiconductor UK Limited £279,192 (2024 - the company owed the parent company, Nordic Semiconductor ASA, £92,232) which is shown as Intercompany loan.

11.	ULTIMATE PARENT UNDERTAKING

The director considers Nordic Semiconductor ASA (incorporated in Norway) to be the Ultimate Controlling Party.

Nordic Semiconductor ASA is the parent company for which the company is a member and for which consolidated financial statements are prepared. The registered office and principal place of business of Nordic Semiconductor ASA is: Otto Nielsens v 12, 7052 Trondheim, Norway.