ACCOUNTS - Final Accounts

Staff costs were as follows:

Registered number: 15350441

Eliassen Group UK Limited

Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2025

Eliassen Group UK Limited

Registered number: 15350441

Balance Sheet

As at 31 December 2025

		2025		2024
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	99,765		10,955
Cash at bank and in hand	5	87,771		16,067
		187,536		27,022
Creditors: amounts falling due within one year	6	(179,002)		(15,917)
Net current assets			8,534		11,105
Total assets less current liabilities			8,534		11,105
Provisions for liabilities
Deferred tax	7	-		(450)
			-		(450)
Net assets			8,534		10,655

Capital and reserves
Called up share capital	8	1	1
Profit and loss account	9	8,533	10,654
		8,534	10,655

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordancy with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 October 2026.

Todd Keebaugh

Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

Eliassen Group UK Limited

Notes to the Financial Statements

For the Year Ended 31 December 2025

1.	General information

Eliassen Group UK Ltd (the Company) is a private company limited by shares incorporated in the United Kingdom. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements of Eliassen Group UK Ltd have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The directors of Eliassen Group UK Limited have reviewed the resources available and believe that the company has adequate resources to continue in operational existence for the foreseeable future.

This conclusion is based on the support of the parent company, Eliassen Group LLC, which has provided written confirmation of its intention to provide financial assistance to Eliassen Group Ireland, if required, for at least the next 12 months from the date of approval of these financial statements. The Directors have reviewed the financial position, resources, and forecasts of the parent company and are confident in its ability to fulfill this commitment.

Accordingly, Eliassen Group UK Limited continues to adopt the going concern basis in preparing the financial statements.

Page 2

Eliassen Group UK Limited

Notes to the Financial Statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP. No rounding has been applied.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

Eliassen Group UK Limited

Notes to the Financial Statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.7

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.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term 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.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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

Page 4

Eliassen Group UK Limited

Notes to the Financial Statements

For the Year Ended 31 December 2025

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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

Page 5

Eliassen Group UK Limited

Notes to the Financial Statements

For the Year Ended 31 December 2025

Wages and salaries	192,956	122,400
Social security costs	15,818	15,377
Cost of defined contribution scheme	16,248	8,173
	225,022	145,950

The average monthly number of employees, including the directors, during the year was as follows:

	31 December	31 December
	2025	2024
	No.	No.

Directors	2	2
Employees	1	1

	3	3

Page 6

Eliassen Group UK Limited

Notes to the Financial Statements

For the Year Ended 31 December 2025

Debtors

					2025	2024
					£	£


Trade debtors	64,513	-
Amounts owed by group undertakings	34,273	10,424
Other debtors	979	531
	99,765	10,955

5.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	87,771	16,067
	87,771	16,067

6.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	28,122	-
Amounts owed to group undertakings	140,109	-
Corporation tax	4,271	4,271
Accruals and deferred income	6,500	11,646
	179,002	15,917

Page 7

Eliassen Group UK Limited

Notes to the Financial Statements

For the Year Ended 31 December 2025

7.	Deferred taxation

		2025
		£

	At end of year	-

The deferred taxation balance is made up as follows:
	2025	2024
	£	£

	Deferred tax liability	-	(450)
		-	(450)

8.	Share capital
		2025	2024
		£	£

Allotted, called up and fully paid

1 (2024 - 1) Ordinary Share of £1.00	1	1

Reserves

Profit and loss account

The profit and loss account represents cumulative profits and losses net of dividends and other
adjustments.

10.	Related party transactions
	The company has taken advantage of the exemptions contained in Section 33 1A FRS 102 not to disclose related party transactions with the related parties that are wholly owned within the group.

11.	Controlling party

The ultimate controlling party, Eliassen Group LLC, a company incorporated in the United States of America, is the smallest and largest group for which the consolidated financial statements, including Eliassen Group UK Limited are prepared. Copies of the financial statements can be obtained from 55 Walkers Brook Drive, Reading, MA 01867, United States of America.

Page 8

Eliassen Group UK Limited

Notes to the Financial Statements

For the Year Ended 31 December 2025

12.	Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2025 was unqualified.

The audit report was signed on 22 October 2026 by Adrian Patton (Senior Statutory Auditor) on behalf of Sumer Auditco NI Ltd.

Page 9