Company No: 01771308 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Onar Birkeland
	Petter Halfdan Rudolf Fredrik Olsen (Resigned 05 February 2025)
	Sofie Henriette Kvaal Olsen
	Gunnar Senum (Appointed 05 February 2025)

SECRETARY

Vistra Company Secretaries Limited

REGISTERED OFFICE	Suite 1
	7th Floor 50 Broadway
	London
	SW1H 0BL
	United Kingdom

COMPANY NUMBER

01771308 (England and Wales)

ACCOUNTANT	S&W Partners LLP
	45 Gresham Street
	London
	EC2V 7BG

	Note	2025		2024
		£		£
Current assets
Debtors	3	183,621		183,621
		183,621		183,621
Creditors: amounts falling due within one year	4	( 47,598)		( 43,706)
Net current assets		136,023		139,915
Total assets less current liabilities		136,023		139,915
Net assets		136,023		139,915
Capital and reserves
Called-up share capital	5	2		2
Profit and loss account		136,021		139,913
Total shareholder's funds		136,023		139,915

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

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Bideford Marine (registered number: 01771308) were approved and authorised for issue by the Board of Directors on 22 September 2026. They were signed on its behalf by:

Onar Birkeland Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bideford Marine (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 1, 7th Floor 50 Broadway, London, SW1H 0BL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Bideford Marine is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Debtors

	2025		2024
	£		£
Amounts owed by Group undertakings	183,621		183,621

4. Creditors: amounts falling due within one year

	2025		2024
	£		£
Amounts owed to Group undertakings	46,887		42,995
Taxation and social security	711		711
	47,598		43,706

5. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Oridinary ordinary shares of £ 1.00 each	2		2

6. Related party transactions

As at 31 December 2025 Firmament AS was the ultimate holding company and Petruvius Limited ("Petruvius") was the immediate parent company.

At 31 December 2025 £183,621 was due from Firmament AS (2024: £183,621).

At 31 December 2025 £46,887 was due to Petruvius (2024: £42,995).

7. Ultimate controlling party

The ultimate holding company is Firmament AS which is incorporated in Norway. The ultimate controlling party was Petter Olsen until 9 January 2025. From 20th January 2025, the new ultimate controlling party is DNB Bank ASA.

The smallest and largest group in which these financial statements are consolidated is Firmament AS which is registered in Norway. A copy of their annual financial statements can be obtained from
Firmament AS, Flyt Kontor, Haakon VIIs gate 2, 0161 Oslo, Norway.