Registration number: 13095332

Nuussisut Shipping Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Nuussisut Shipping Limited

Company Information

Directors

M K Jensen U B Vedel

Registered office

Kingfisher Court Plaxton Bridge Road Woodmansey Beverley East Yorkshire HU17 0RT

Nuussisut Shipping Limited

(Registration number: 13095332)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	582,130	613,953
Current assets
Cash at bank and in hand		13,062	16,467
Creditors: Amounts falling due within one year	5	(447,422)	(555,870)
Net current liabilities		(434,360)	(539,403)
Total assets less current liabilities		147,770	74,550
Provisions for liabilities		(38,940)	(22,821)
Net assets		108,830	51,729
Capital and reserves
Called up share capital		1	1
Retained earnings		108,829	51,728
Shareholders' funds		108,830	51,729

For the financial year ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 September 2026 and signed on its behalf by:
 

......................................... M K Jensen Director

......................................... U B Vedel Director

Nuussisut Shipping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 13095332.

The address of its registered office is:
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

The principal place of business is:
Qujanarteq
1 PO Box 191
3922 Nanortalik
Greenland

These financial statements were authorised for issue by the Board on 7 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover arises from the rental of a boat. Turnover is measured at the fair value of the consideration received or receivable and represents amounts for the rents receivable in the normal course of business.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met of each of the companies activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Nuussisut Shipping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Tax

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or subsequently enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measure using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	5% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Nuussisut Shipping Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2025 - 2).

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 April 2025	699,723	699,723
At 31 March 2026	699,723	699,723
Depreciation
At 1 April 2025	85,770	85,770
Charge for the year	31,823	31,823
At 31 March 2026	117,593	117,593
Carrying amount
At 31 March 2026	582,130	582,130
At 31 March 2025	613,953	613,953

5

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Trade creditors	-	2,164
Amounts owed to Company undertakings and undertakings in which the Company has a participating interest	386,528	506,545
Accruals and deferred income	60,894	47,161
	447,422	555,870

6	Parent and ultimate parent undertaking

The company has taken advantage of the exemption included in FRS 102 from disclosing transactions with other members of the group.

 The Company's immediate parent is Arctic Unlimited APS, incorporated in Greenland.

 The ultimate parent is Mash Holdings APS, incorporated in Greenland.

  These financial statements are available upon request from Qujanarteq 1, PO Box 191, 3922 Nanortalik, Greenland.