REGISTERED NUMBER: 14749573 (England and Wales)

Financial Statements for the Year Ended 31 December 2025

for

Nansen UK Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

I Zu

SECRETARY:

CC Secretaries Limited

REGISTERED OFFICE:

1st Floor,

One Suffolk Way

Sevenoaks

Kent

TN13 1YL

REGISTERED NUMBER:

14749573 (England and Wales)

SENIOR STATUTORY AUDITOR:

Philippa Duckworth FCCA, BSc

AUDITORS:

WP Audit Limited

North House

198 High Street

Tonbridge

Kent

TN9 1BE

FIXED ASSETS

Tangible assets

4

7,528

4,511

CURRENT ASSETS

Debtors

5

2,800

3,502

Investments

6

44

167,864

Cash at bank

244,910

-

247,754

171,366

CREDITORS

Amounts falling due within one year

7

639,856

412,297

NET CURRENT LIABILITIES

(392,102

)

(240,931

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(384,574

)

(236,420

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

(384,674

)

(236,520

)

SHAREHOLDERS' FUNDS

(384,574

)

(236,420

)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2026 and were signed by:

I Zu - Director

1.	STATUTORY INFORMATION

Nansen UK 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

The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

In addition, despite the current net liability position, the parent Company Nansen Pte has indicated through a letter of support that it is not seeking repayment of the intercompany debt, as disclosed per Note 9 and will continue to support the Company to meet its obligations for at least 12 months from the date of approval of the accounts.

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.

Significant judgements and estimates

In the application of the company's accounting policies the director is required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intercompany revenue recorded within these accounts is recognised annually in arrears in respect of services provided during the period to its parent Company Nansen Pte.

The Company currently does not have any other income type to recognise as it is pre-trading.

Tangible fixed assets

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

Computer equipment

-

Straight line over 3 years

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and 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 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.

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.

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.

Investments

Investments are recorded initially at cost and revalued annually with any revalue gain /loss taken to the profit and loss account in the period to which it relates.

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.

Share option charges

The Company has recognised the fair value of share options that vested during the year.These share options relate to the Parent Company, Nansen Pte Ltd. As the options are issued by the parent rather than the Company, they are classified as a liability as part of the intercompany loan balance.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2025

4,776

Additions

5,748

At 31 December 2025

10,524

DEPRECIATION

At 1 January 2025

265

Charge for year

2,731

At 31 December 2025

2,996

NET BOOK VALUE

At 31 December 2025

7,528

At 31 December 2024

4,511

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

2,800

3,502

6.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Other

44

167,864

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

317

314

Amounts owed to group undertakings

522,403

283,919

Taxation and social security

29,697

28,898

Other creditors

87,439

99,166

639,856

412,297

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary Shares

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2025

(236,520

)

Deficit for the year

(148,154

)

At 31 December 2025

(384,674

)

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

The Report of the Auditors was unqualified.

Philippa Duckworth FCCA, BSc (Senior Statutory Auditor)

for and on behalf of WP Audit Limited

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Nansen Pte Ltd.

Their address is:

10 Anson Road 22-02

International Plaza

Singapore

12.	SHARE-BASED PAYMENT TRANSACTIONS

The Parent Company, Nansen Pte Ltd, has granted share options over its own shares to UK employees of the Company. The Company recognises the cost of options vesting during the year, with a corresponding credit to the amount owed to the Parent Company, which recharges this cost to the Company.

The company had 1,651,623 (2024: nil) options outstanding at the beginning of the period.

During the period 97,526 (2024: 3,464,755) options were granted to employees.

During the period 34,223 (2024: 1,813,132) options were forfeited.

During the period nil (2024: nil) options were exercised.

During the period nil (2024: nil) options expired.

The company had 1,714,926 (2024: 1,651,623) options outstanding at the end of the period.

The company has 1,364,170 (2024: 1,184,598) exercisable options at the end of the period.

The fair value of the share options has been valued using the fair value at grant date with the following fair values, £0.11, £0.26, £0.14.

The total change in valuation of the vested options was £13,018 (2024: £71,073), this was charged to the profit and loss. The total carrying amount is £84,091 (2024: £71,073).