The notes on pages 2 to 6 form part of these financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Dessus Petroholding Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Queen Street Place, London, Greater London, UK, EC4R 1AG.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company made a trueprofit for the period of £68,695 (2024: loss of £243,510) and had net current liabilities of £11,023,410 as at 31 December 2025 (2024: £11,092,365).

At 31 December 2025, the company had a loan of £18.1 million (2024: £18.4 million) owing to Union Grand Energy Middle East Ltd, an entity under common ownership. Whilst the loan is contractually repayable on demand and interest-free, the directors do not anticipate that repayment will be requested within the period covered by their going concern assessment.

A letter of support has been obtained from the ultimate controlling party confirming their intention not to seek repayment of amounts due to them, or any other associated company, until such time as the company is able to repay those amounts without detriment to its ongoing trade. Whilst the directors acknowledge that this letter is not legally binding, they believe it provides a reasonable basis upon which to make their assessment, given the commercial incentive of the wider group to continue supporting the company and maintaining and expanding its position in the UK marketplace.

The directors have performed an assessment of going concern, giving due consideration to the Group's and Company's historical trading performance, current financial position and forward-looking projections. The resulting cash flow forecasts demonstrate that the Group and the Company are able to continue operating within the existing facilities available and without requiring additional funding during the forecast period, other than the support referred to above.

Based on the above, the directors have a reasonable expectation that the Group and the Company have adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

The company holds investments in subsidiary undertakings which are carried at cost less any provision for impairment. At each reporting date, the directors assess whether there are indicators that the carrying value of the investments may not be recoverable.

Determining whether an impairment is required involves significant judgement, including an assessment of the financial performance and financial position of the underlying subsidiaries, their future profitability, forecast cash flows and net asset values, together with consideration of current market and economic conditions.

Where indicators of impairment are identified, the directors estimate the recoverable amount of the investment and compare this to its carrying value. The recoverable amount is based on the higher of value in use and fair value less costs to sell, as appropriate. Changes in the assumptions used, particularly in relation to forecast trading performance and future cash flows, could result in a material adjustment to the carrying value of the investment.

The average monthly number of persons (including directors) employed by the company during the year was:

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

In our opinion the financial statements:

• give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

At 31 December 2025, the company had a loan balance of £18.1 million (2024: £18.4 million) due to Union Grand Energy Middle East Ltd, a company under common control. The balance is included within other creditors. The loan is interest-free and is repayable on demand.

The company is a 100% subsidiary of Gagnant Global Holdings Limited, Isle of Man, which is in turn 100% owned by Anar Alizade who is considered to be the controlling party of the company. The registered office address of Gagnant Global Holdings Limited is First Floor, Millenium House, Victoria Road, Douglas, Isle of Man, IM2 4RW.