The director of the group have elected not to include a copy of the profit and loss account within the financial statements.

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

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s profit for the year was £27,247 (2024 - £1,759,361 profit).

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

Eodex UK Ltd (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

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 consolidated group financial statements consist of the financial statements of the parent company Eodex UK Ltd together with all entities controlled by the parent company (its subsidiaries). Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases. All financial statements are made up to 31 December 2025. All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination.

On consolidation, the results of the overseas operations are translated into sterling at rates approximating to those ruling when the transaction took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

In the parent company financial statements, investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

The group 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.

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.

Basic financial liabilities, including creditors and loans from fellow group companies 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.

Equity instruments issued by the group 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 group.

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.

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.

Provisions are recognised when the group has a legal or constructive present obligation as a result of a past event, it is probable that the group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The costs of short-term employee benefits are recognised as a liability and an expense.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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

Details of the company's subsidiaries at 31 December 2025 are as follows:

The long-term loans are secured by fixed charges over the assets in which they relate. No capital repayments were due for twenty four months from the commencement of the loan and interest is charged at 3.45% per annum.

Other reserves represents cumulative differences arising on the annual translation of the subsidiaries registered in the USA from Dollars to Sterling. These amounts relate to the group only and are non-distributable.

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 was unqualified.

On 8 January 2026 the company became a 100% subsidiary of Eodex Holdings Limited. On the same date, Eodex UK - Subsea Ltd and Eodex UK - Management Ltd became 100% subsidiaries of Eodex Group Limited.

Dividends have been declared since the year end totalling £116,000.

Connected companies

Group:

The following companies are connected companies though common control:

Included in other debtors is an amount of £1,089,335 (2024 - £2,289,228) owed by connected companies.

Included in other creditors is an amount of £861,263 (2024 - £47,981) owed to connected companies.

During the year sales of £3,615 (2024 - £2,524,930) were made to these companies and purchases of £743,695 (2024 - £102,637) were made from these companies.

Company:

The following companies are connected companies though common control:

Included in other debtors is an amount of £1,082,789 (2024 - £2,277,067) owed by connected companies.

Included in other creditors is an amount of £24,488 (2024 - £24,236) owed to connected companies.

During the year sales of £1,215 (2024 - £2,500,000) were made to these companies and purchases of £1,130,745 (2024 - £102,637) were made from these companies.

Included within group other debtors is a directors loan balance owed to the director which totals £37,733 (2024 - £27,755 owed to the director in other creditors). No interest is charged on these balances.

Included within company other debtors is a directors loan balance owed to the director which totals £115,384 (2024 - £27,755 owed to the director in other creditors). No interest is charged on these balances.