| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2025 |
| for |
| Nordhavn Europe Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2025 |
| for |
| Nordhavn Europe Limited |
| Nordhavn Europe Limited (Registered number: 04939530) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Statement of Changes in Equity | 4 |
| Notes to the Financial Statements | 5 |
| Nordhavn Europe Limited |
| Company Information |
| for the Year Ended 31 December 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Old Stables |
| Sutton Manor Farm |
| Bishops Sutton |
| Alresford |
| Hampshire |
| SO24 0AA |
| Nordhavn Europe Limited (Registered number: 04939530) |
| Balance Sheet |
| 31 December 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| Nordhavn Europe Limited (Registered number: 04939530) |
| Balance Sheet - continued |
| 31 December 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Nordhavn Europe Limited (Registered number: 04939530) |
| Statement of Changes in Equity |
| for the Year Ended 31 December 2025 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 January 2024 |
| Changes in equity |
| Profit for the year | - | 94,558 | 94,558 |
| Total comprehensive income | - |
| Dividends | - | ( |
) | ( |
) |
| Balance at 31 December 2024 |
| Changes in equity |
| Deficit for the year | - | (198,789 | ) | (198,789 | ) |
| Total comprehensive income | - | ( |
) | ( |
) |
| Dividends | - | ( |
) | ( |
) |
| Balance at 31 December 2025 |
| Nordhavn Europe Limited (Registered number: 04939530) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2025 |
| 1. | STATUTORY INFORMATION |
| Nordhavn Europe Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents commission on the sale of new and used boats, and receipts in respect of commissioning and repairs undertaken excluding value added tax. Commission is recognised in the period in which it is earned. |
| Debtors includes amounts recoverable on service contracts. Where the outcome of a transaction can be estimated reliably, revenue is recognised by reference to the stage of completion of the transaction at the balance sheet date (in accordance with FRS 102 paragraph 23.14). |
| Tangible fixed assets |
| Leasehold improvements | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date. |
| Deferred tax |
| 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 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 balance sheet 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 |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Nordhavn Europe Limited (Registered number: 04939530) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Leasehold | Plant and | and |
| improvements | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2025 |
| Additions |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on service contracts |
| Other debtors |
| Corporation tax |
| VAT |
| Deferred tax asset |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors | 703,175 | 9,439 |
| Directors' current accounts | 117,637 | - |
| Accrued expenses |
| 7. | SECURED DEBTS |
| There is a registered charge for a rent deposit. £7,766 due or to become due from the company to Marina Developments Limited under the terms of a rent deposit deed creating the charge. |
| Nordhavn Europe Limited (Registered number: 04939530) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2025 |
| 8. | PROVISIONS FOR LIABILITIES |
| 2024 |
| £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2025 |
| Accelerated capital allowances | (1,333 | ) |
| Unrelieved tax losses | (21,734 | ) |
| Balance at 31 December 2025 | ( |
) |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| Ordinary | £1 | 510 | 510 |
| Ordinary 'A' | £1 | 490 | 490 |
| Ordinary 'B' | £1 | 1 | 1 |
| 1,001 | 1,001 |
| The Ordinary shares and Ordinary 'A' shares carry full voting rights, entitlement to dividends and any distribution made on a winding up of the company. |
| The Ordinary 'B' shares only carry entitlement to dividends. |
| Dividends may be paid to the holders of one or more classes of shares to the exclusion of the other at the director's discretion. |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £115,100 (2024 - £109,398) were paid to the directors . |
| N R O Russell |
| A director and shareholder of the company |
| 2025 | 2024 |
| £ | £ |
| Amount due to related party at the balance sheet date | 117,637 | - |
| 11. | ULTIMATE CONTROLLING PARTY |
| During the period under review the company was under the ultimate control of Mr N Russell, a director and the majority shareholder. |