AIR RESOURCES LIMITED

1. AIR RESOURCES LIMITED 2001-07-20 → present
2. MARCHFIELD ENGINEERING (RESOURCES) LIMITED 1992-02-19 → 2001-07-20
3. MARCHFIELD ENGINEERING LIMITED 1979-06-11 → 1992-02-19

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101 Reduced Disclosure Framework

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors are required to prepare these financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. As at 31 December 2024 the Company has net assets of £ 35,319,000 (2023: £36,050,000) and net current assets of £30,737,000 (2023: £31,380,000). This going concern assessment has been carried out on the cash flows of the wider Airswift Group, which the company is a member of, as cash is managed by a centralised treasury function who ensure all parts of the Group have sufficient cash to meet their immediate needs. We have considered a range of scenarios to stress test our cash flows. As part of the arrangement, the Group has issued a letter of support for a period of twelve months from the date of approval of these financial statements to the company which includes both making funds available if required and not to seek repayment of amounts due at the balance sheet date if this would be detrimental to the company. As a result of the review the Directors have a reasonable expectation that the business has sufficient resources to operate for a period of at least 12 months from the date of approval of these financial statements and that it is appropriate for the financial statements to be prepared on a going concern basis.”

Group structure

1. AIR RESOURCES LIMITED · parent
   1. Air Resources Qatar WLL 0.49% · Qatar · Provision of global manpower solutions to the Oil & Gas Industry ("PGMS")
   2. Air Energi UAE LLC 0.49% · United Arab Emirates · PGMS
   3. Air Resources LLC Oman 0.7% · Oman · PGMS
   4. Airswift AzTechno Azerbaijan LLC 0.49% · Azerbaijan · PGMS
   5. Airswift Denmark ApS 1% · Denmark · PGMS
   6. Airswift Embrace 0.5% · Mozambique · PGMS
   7. Energy Resourcing Europe Ltd 1% · United Kingdom · PGMS
   8. ASEM Mozambique 0.5% · Mozambique · PGMS
   9. Airswift Establishment 1% · Saudi Arabia · PGMS
   10. Airswift Consulting Tanzania Ltd 0.85% · Tanzania · PGMS
   11. Airswift Consulting Uganda - SMC Limited 1% · Uganda · PGMS
   12. Airswift Mauritania SARL 1% · Mauritania · PGMS
   13. Air Consulting SARL 1% · Senegal · PGMS
   14. Air Employment Services Sweden Filal 1% · Sweden · PGMS

Significant events

• “On 1st July 2024 the Shareholders of Airswift Global Ltd. sold 100% of it's share to Leia Acq. Co resulting in a change in ownership for the company.”
• “On 19th February 2024 the Group refinanced its Norwegian bond - favourable changes were made to the terms along with increasing the debt outstanding by $10m. As this was additional funding there was no impact on the trading activities of the Group.”
• “There were no post balance sheet events that require disclosure or adjustment to these financial statements.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -17.8%

  £234,474,000 → £192,710,000

• Cash

  -13.9%

  £830,000 → £715,000

• Net assets

  -2%

  £36,050,000 → £35,319,000

• Employees

  +8.8%

  181 → 197

• Operating profit

  +262.5%

  -£1,380,000 → £2,243,000

• Profit before tax

  +79.7%

  -£4,226,000 → -£857,000

• Wages

  +0.9%

  £11,212,000 → £11,311,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers