REGISTERED NUMBER: 10430636 (England and Wales)

NORD GOLD (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

E A Tulubenskiy

N. Zelenskiy

Secretary:

E A Tulubenskiy

Registered office:

5th Floor

6 St Andrews St

London

EC4A 3AE

Registered number:

10430636 (England and Wales)

Current assets

Debtors

4

1

1

Total assets less current liabilities

1

1

Capital and reserves

Called up share capital

5

1

1

Shareholders' funds

1

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 17 September 2018 and were signed on its behalf by:

E A Tulubenskiy - Director

N. Zelenskiy - Director

1.	Statutory information

Nord Gold (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.

2.	Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

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.

Significant judgements and estimates

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in

determining the carrying amounts of assets and liabilities. The directors' judgements, estimated and assumptions are based

on the best and most reliable evidence available at the time when the decisions are made, and are based on historical

experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such

judgements, estimates and assumptions, the actual results and outcomes may differ.

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, if the revision affects only that period, or in the period of the revision

and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies

There were no critical judgements that the directors made in the process of applying the Company's accounting policies.

Key sources of estimation uncertainty

There were no key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant

risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

(ii) Recoverability of receivables

The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability

the directors consider factors such as the ageing of the receivables, past experience and recoverability, and the credit profile

of individual or groups of customers.

Taxation

Taxation for the year 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have

carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12

months from the date of signing the financial statements, and the extent to which they might affect the preparation of the

financial statements on a going concern basis.

Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet

the demands of the business including any capital and servicing obligations and external debt liabilities.

Provisions

Provisions are recognised when there is a present obligation (legal or constructive) as a result of a past event, it is probably

that the obligation will be required to be settled, and a reliable estimate can be made of the amount of the obligation. The

amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end

of the reporting taking into account the risks and uncertainties surrounding the obligation. Provisions are discounted when the

time value of money is material.

Financial instruments

Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial

instrument. The Company holds financial instruments which comprise trade and other payables. The company has chosen to

apply the provisions of Section 11 Basic Financial Instruments in full.

Financial assets / liabilities - classified as basic financial instruments

(i) Trade and other payables and loans and borrowings

Trade and other payables are initially measured at the transaction price, including any transaction costs, and subsequently

measured at amortised cost using the effective interest method.

4.

Debtors: amounts falling due within one year

2017

2016

£

£

Amounts owed by group undertakings

1

1

5.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

6.

Reserves

Retained

earnings

£

Profit for the year

-

At 31 December 2017

-

7.	Ultimate controlling party

The company's ultimate parent company is Nord Gold SE, a company registered in the UK which prepares consolidated

financial statements, copies of which can be obtained from 5th Floor, 6 St Andrew Street, London EC4A 3AE.