| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| FOR |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| FOR |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| and Statutory Auditors |
| Granville Hall |
| Granville Road |
| Leicester |
| LE1 7RU |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| BALANCE SHEET |
| 31 DECEMBER 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 1. | STATUTORY INFORMATION |
| Global Energy Ventures (UK) Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The presentation currency of the financial statements is in pound sterling (£). |
| Turnover |
| Turnover represents the fair value of services supplied to oilfields across Africa and is recognised upon provision of the service. Work undertaken that has not been invoiced at a period end is reviewed to ascertain the probable revenue it will generate and is shown as part of revenue and within amounts recoverable on contract. |
| Intangible fixed assets |
| Intangible assets, comprising of computer software, are written off over 4 or 5 years. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income). |
| Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the group has a legally enforceable right to set off current tax assets against current tax liabilities, and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously. |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the profit and loss account 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. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
| Creditors |
| Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| Going concern |
| After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 January 2025 |
| and 31 December 2025 |
| AMORTISATION |
| At 1 January 2025 |
| Charge for year |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2025 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 January 2025 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2025 |
| DEPRECIATION |
| At 1 January 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2025 |
| NET BOOK VALUE |
| At 31 December 2025 |
| At 31 December 2024 |
| 6. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts owed by associates |
| Other debtors |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 10) |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts (see note 10) |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2025 | 2024 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2025 | 2024 |
| £ | £ |
| Bank loans |
| Hire purchase contracts | 108,576 | 112,621 |
| Amounts owing under hire purchase contracts are secured on the assets concerned. |
| Amounts owing under bank loans are secured with fixed and floating charges over the company assets. |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 January 2025 |
| Deficit for the year | ( |
) |
| Dividends | ( |
) |
| At 31 December 2025 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 14. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024: |
| 2025 | 2024 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest is charged on the loan at the official rate of interest and the loan is repayable on demand. |
| GLOBAL ENERGY VENTURES |
| (UK) LIMITED (REGISTERED NUMBER: 06150339) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2025 |
| 15. | RELATED PARTY DISCLOSURES |
| 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. |
| At the year end the company was owed £440,064 (2024: £642,189) by GRO Oilfield Alliance Ghana Ltd. It is incorporated in Ghana. |
| At the year end the company was owed £375,543 (2024: £237,236) by Global Energy Ventures Senegal. It is incorporated in Senegal. |
| At the year end the company owed £448,942 (2024: £Nil) to GEV Solutions. It is incorporated in Ivory Coast. |
| At the year end the company was owed £183,690 (2024: £Nil) by Goree GEV Senegal. It is incorporated in Senegal. |
| GRO Oilfield Alliance Ghana Ltd is a 90% subsidiary of GEV Ghana Limited, which is a wholly owned subsidiary of Global Energy Ventures (Holdings) Limited. |
| Global Energy Ventures Senegal is a 95% subsidiary of Global Energy Ventures (Holdings) Limited. |
| GEV Solutions is a 49% subsidiary of Global Energy Ventures (Holdings) Limited. |
| Goree GEV Senegal is a 49% associate of Global Energy Ventures (Holdings) Limited. |
| Mr BD Stanley and Mrs EL Stanley have provided a personal guarantee of £50,000 (2024: £50,000) to the company's bank. |
| Mr BD Stanley and Mrs EL Stanley have provided a personal guarantee of £200,000 (2024: £200,000) to the company's loan provider. |
| 16. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |