REGISTERED NUMBER: 15135882 (England and Wales)

FINANCIAL STATEMENTS FOR THE PERIOD 1 OCTOBER 2024 TO 31 DECEMBER 2025

FOR

GREAT LAKES DREDGE & DOCK (UK) LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

3

Directors:

Ms V R Schiffer

Mr L J Petterson

Mr P F Hedges

Secretaries:

Ms V R Schiffer

Vistra Cosec Limited

Registered office:

Ground Floor, Templeback

10 Temple Back

Bristol

BS1 6FL

Registered number:

15135882 (England and Wales)

Auditors:

Zome Audit & Accountancy Limited

(Statutory Auditor)

Chartered Accountants

5th Floor

111 Charterhouse Street

London

EC1M 6AW

FIXED ASSETS

Tangible assets

4

32,814

-

CURRENT ASSETS

Debtors

5

9,330

-

CREDITORS

Amounts falling due within one year

6

(260,571

)

-

NET CURRENT LIABILITIES

(251,241

)

-

TOTAL ASSETS LESS CURRENT LIABILITIES

(218,427

)

-

CREDITORS

Amounts falling due after more than one year

7

(3,509

)

-

NET LIABILITIES

(221,936

)

-

RESERVES

Retained earnings

(221,936

)

-

SHAREHOLDERS' FUNDS

(221,936

)

-

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

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2026 and were signed on its behalf by:

Mr L J Petterson - Director

1.	STATUTORY INFORMATION

Great Lakes Dredge & Dock (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's functional and presentational currency is US dollars (USD) and the financial statements have been rounded to the nearest dollar ($).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The company elected to early adopt the amended requirements of FRS 102 Section 20 (Leases) to align the company's accounting policies with forthcoming changes and to provide increased transparency over lease commitments reflected on the balance sheet.

Right-of-use assets and lease liabilities

The entity recognises a right-of-use asset and a corresponding lease liability at the lease commencement date. The lease liability is initially measured at the present value of the future lease payments, discounted using the entity’s incremental borrowing rate.

The right-of-use asset is initially measured at cost and subsequently depreciated over the lease term.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities

Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into US dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into US dollars at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Share based payments

Where share units are awarded to employees, the fair value of the units at the date of grant is charged to profit or loss over the vesting period.

Where the terms and conditions of units are modified before they vest, the increase in the fair value of the units, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Going concern

The company is reliant on the support of the parent entity, Great Lakes Dredge & Dock Corporation and it has been indicated that this will continue for the foreseeable future. Due to this the directors have prepared the accounts using the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2024 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Right of Use assets

$

Cost

At 1 October 2024

-

Additions

42,190

Disposals

-

At 31 December 2025

42,190

Depreciation

At 1 October 2024

-

Charge for year

9,376

Eliminated on disposal

-

At 31 December 2025

9,376

Net book value

At 31 December 2025

32,814

At 31 December 2024

-

The company has entered into a lease arrangement and the lease liability has been measured in accordance with the company policy for determining the applicable discount rate for lease contracts. The corresponding right-of-use asset is recognised and depreciated over the lease term in line with the company’s accounting policy on Right-of-Use Assets.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

30/9/24

$

$

Other debtors

9,330

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/25

30/9/24

$

$

Amounts owed to group undertakings

215,478

-

Other creditors

45,093

-

260,571

-

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/25

30/9/24

$

$

Other creditors

3,509

-

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Roy Davis FCA (Senior Statutory Auditor)

for and on behalf of Zome Audit & Accountancy Limited

9.	RELATED PARTY DISCLOSURES

Creditors includes $35,755 due to Great Lakes Dredge & Dock Corporation, the parent company. This amount is unsecured, interest free and repayable on demand.

Creditors includes $179,723 due to Great Lakes Dredge & Dock Company LLC, a company within the Great Lakes Dredge & Dock Corporation group. This amount is unsecured, interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

Great Lakes Dredge & Dock Corporation, a company incorporated in the United States of America with the registered address 9811 Katy Freeway, Suite 1200, Houston, TX 77024, USA, is the largest and smallest parent Company preparing the group consolidated financial statements.

11.	LEASING AGREEMENTS

The company entered into a short term office lease which commenced on 1 September 2025. The lease expires on 28 February 2027. The lease lasts for the stated period and it will be automatically renewed for a further period equal to the initial term. The lease may be terminated by giving notice not less than three months before the expiration of the current term.

The right of use asset and corresponding liability have been initially recognised at the present value of the future cashflows using an interest rate of 6.84%.