Contents of the Financial Statements

for the Period Ended 31 December 2025

Balance sheet

As at 31 December 2025

The notes form part of these financial statements

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 December 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover is measured at the fair value of the consideration received or receivable for servicesrendered, net of discounts and Value Added Tax

  Tangible fixed assets depreciation policy

  Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,over the useful economic life of that asset as follows: Fixtures and fittings - 6.67% straight line Equipment - 20%-33% straight line

  Other accounting policies

  Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern The financial statements have been prepared on a going concern basis notwithstanding the fact that the company is in a net liability position at the end of the year of £9,200,982 (2024:£8,255,396). The director considers this basis to be appropriate as the company has received a letter of financial support from its parent company, Nordic Consulting Group Inc, who have confirmed that they will continue to provide sufficient financial support to enable the company to meet their financial obligations as they fall due for a period of at least one year from the date of the approval of the financial statements. The director has prepared cash flow forecasts taking into account the impact of global economic factors such as rising inflation and cost of living dynamics and is comfortable that the company has sufficient cash and working capital to meet its liabilities as they fall due. The variable rate intercompany loan totalling £1.7m received in the prior year has aided the company in meeting their liabilities as they fall due. Based on the above factors the director considers that the company will remain a going concern for a period of at least 12 months from the date of approval of these financial statements and has therefore prepared the financial statements on a going concern basis. Consolidation The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements To determine whether there are indicators of impairment of the company's investments.Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the subsidiary. To determine whether the accounts should be prepared on a going concern basis. Factors taken into consideration in reaching the conclusion include future uncertainties and the support of group companies, including the ability of group companies to provide such support. To determine the recoverability of amounts owed by group undertakings. Factors taken into consideration in reaching the conclusion include the expected future financial performance of the companies and wider group as a whole. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: There were no significant estimates (apart from those involving judgements) that the director has made in the process of applying the company's accounting policies. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,over the useful economic life of that asset as follows: Fixtures and fittings - 6.67% straight line Equipment - 20%-33% straight line Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. Cash and cash equivalents Cash consists of cash on hand and demand deposits. There are no cash equivalents within the financial statements. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Other financial assets Other financial assets comprise trade debtors, amounts owed by group undertakings and other debtors. Other financial assets are initially measured at the un-discounted amount of cash receivable and are subsequently measured at amortised cost less impairment, where there is objective evidence of an impairment. Other financial liabilities Other financial liabilities include trade creditors, amounts owed to group undertakings and other creditors. Other financial liabilities are measured at invoice price, unless payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. In this case the arrangement constitutes a financing transaction, and the financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Ordinary share capital The ordinary share capital of the company is presented as equity.

Notes to the Financial Statements

for the Period Ended 31 December 2025

• 2. Employees

  	2025	2024
  Average number of employees during the period	18	21