GLOBAL MARINE SYSTEMS LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-01-14 (in 8mo)
Last made up 2025-12-31
Watchouts
Cash
£13M
-27% vs 2023
Net assets
£78M
+28.1% vs 2023
Employees
371
-19.2% vs 2023
Profit before tax
£18M
+306.7% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Insolvency history on file
Companies House holds prior insolvency events for this company. Detail and outcome on the official register.
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Name history
Renamed 3 times since incorporation
- GLOBAL MARINE SYSTEMS LIMITED 1999-07-05 → present
- CABLE & WIRELESS MARINE LIMITED 1997-05-29 → 1999-07-05
- CABLE AND WIRELESS (MARINE) LIMITED 1983-09-02 → 1997-05-29
- BEATLYRE LIMITED 1983-03-22 → 1983-09-02
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £133,527,057 | £131,286,879 | |
| Operating profit | -£10,203,855 | £15,507,042 | |
| Profit before tax | -£8,648,629 | £17,872,498 | |
| Net profit | -£9,330,615 | £17,830,986 | |
| Cash | £18,022,239 | £13,151,964 | |
| Total assets less current liabilities | £79,810,971 | £85,440,326 | |
| Net assets | £60,996,294 | £78,164,566 | |
| Equity | £60,996,294 | £78,164,566 | |
| Average employees | 459 | 371 | |
| Wages | £27,676,056 | £25,144,552 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -7.6% | 11.8% | |
| Net margin | -7.0% | 13.6% | |
| Return on capital employed | -12.8% | 18.1% | |
| Current ratio | 0.87x | 1.11x | |
| Interest cover | -2.67x | 5.45x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have assessed the wider Group's projected business activities and available financial resources and detailed cash forecasts. This includes a review of a base case and reasonably plausible downside scenarios and in all cases the group has sufficient means to continue as a going concern for a period of no less than twelve months from the signing date.”
Group structure
- GLOBAL MARINE SYSTEMS LIMITED · parent
- Global Marine Systems (Americas) Inc 100%
- Global Marine Cable Systems Pte Limited 100%
- Vibro-Einspultechnik Duker und Wasserbau Gmbh 100%
- Global Marine Systems (Depots) Limited 100%
- Global Marine Systems (Guernsey) Limited 100%
- Global Marine Systems Pension Trustee Limited 100%
- Global Marine Systems (Bermuda) Limited 100%
- Global Marine Systems (Investments) Limited 100%
- Global Marine Systems (Vessels II) Limited 100%
- Red Sky Subsea Limited 100%
- Global Marine Systems (Vessels) Limited 100%
- Global Marine Search Limited 100%
- Global Marine Systems (Netherlands) BV 100%
- Global Marine Systems Oil & Gas Limited 100%
- GMSL Employee Benefit Trust Limited 100%
Significant events
- “On 04 March 2025, Keppel Infrastructure Fund ("KIF") completed the acquisition of JFL-GMG Holdings Ltd Group, of which the Company is a part. KIF successfully secured bank borrowings of $230m to fund the acquisition, alongside an injection of shareholder funds. In addition to the bank borrowings, the Group also has access to a substantial capex facility of $75m and credit facility of $55m to support the future growth of the business.”
- “On 04 March 2025 the term loan owed to Deutsche Bank of $31m and the second lien lending owed to JFL-GMG Holdings LLC of $61m was repaid in full.”
- “Details of a contingent liability notified to the Group subsequent to the year end are disclosed at Note 28.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 76 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CABLE, Jaime Violet | Secretary | 2018-02-27 | — | — |
| DESLANDES, Paul Stephen | Director | 2026-01-14 | Nov 1974 | British |
| MAH, Su Hui Sabrina | Director | 2025-07-31 | Nov 1987 | Singaporean |
| PEARCE, Stephen Clarke | Director | 2026-01-14 | May 1971 | British |
| POON, Jonathan Chun Yu | Director | 2025-04-24 | Sep 1988 | Hong Konger |
| TANG, Yuen Yee | Director | 2025-05-07 | Feb 1989 | Malaysian |
| THOMSON, Leanne Maree | Director | 2022-12-01 | Apr 1969 | British |
Show 76 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CABLE, Jaime Violet | Secretary | 2014-11-11 | 2017-05-02 |
| CLAYDON, Kenneth Keith | Secretary | 1998-04-05 | 1999-07-02 |
| DUNLEAVY, Ann Geraldine | Secretary | 2004-04-20 | 2004-08-20 |
| HARMER, Laurel Susan | Secretary | 2003-07-02 | 2004-04-20 |
| KEECH, Julie Anne | Secretary | 2017-05-02 | 2018-02-27 |
| MCDOWELL, Jacqueline Violet | Secretary | — | 1998-04-05 |
| NEILSON-WATTS, Beverley Ruth | Secretary | 2005-11-25 | 2014-11-11 |
| TODHUNTER, Christopher | Secretary | 1999-07-02 | 2003-07-02 |
| BRIDGE HOUSE SECRETARIES LIMITED | Corporate Secretary | 2004-08-20 | 2005-11-25 |
| ASTLE, Edward Morrison | Director | 1993-02-03 | 1997-03-31 |
| BRIGHTMAN, Anthony Charles | Director | 2005-05-05 | 2006-04-30 |
| BRYAN, Ian Peter | Director | 2018-07-02 | 2019-12-12 |
| BULL, Martin Andrew | Director | — | 1992-12-31 |
| CAMPBELL, Alan | Director | 2004-08-13 | 2008-04-29 |
| CANNON, Michael | Director | 1995-04-03 | 1996-05-23 |
| CARTER JR, William Blanton | Director | 1999-07-02 | 2002-02-12 |
| CHEUNG, William Kam Hung | Director | 1994-11-01 | 1996-03-07 |
| CHIANG, Chang Jopy | Director | 2025-03-04 | 2025-05-07 |
| CLODD-BROOM, Nicola | Director | 2014-12-22 | 2016-03-31 |
| COOK, Lodwrick Monroe | Director | 1999-12-17 | 2002-08-23 |
| CREW, Gregory Leonard | Director | 1993-06-11 | 1995-03-31 |
| DANIEL, Michael John | Director | 2018-07-02 | 2021-09-20 |
| DAWSON JR, Sidney Wallace | Director | 2001-06-15 | 2002-02-12 |
| DONALDSON, William Allan | Director | 2013-04-18 | 2015-04-30 |
| DOUGLAS, Ian David | Director | 2007-01-10 | 2023-03-19 |
| DOWNIE, Michael James | Director | 2000-10-20 | 2002-09-04 |
| DUGAN, Terrance Lee | Director | 2003-12-04 | 2004-04-20 |
| DUGAN, Terrance Lee | Director | 2002-05-02 | 2003-03-10 |
| FAGERSTAL, Dick Helgeson | Director | 2014-09-22 | 2025-03-04 |
| FOOT, David George | Director | 1994-12-16 | 2002-02-12 |
| FORD, Peter Jonathan | Director | 2004-12-21 | 2008-04-29 |
| FRASER-SMITH, Richard | Director | 2015-07-16 | 2019-03-18 |
| GILLESPIE, Mark Alexander | Director | 2021-09-20 | 2022-05-13 |
| GRIEVE, Alistair Reginald | Director | 1996-03-15 | 1999-07-02 |
| GUNN, Gillian Ruth | Director | 2010-11-01 | 2012-12-17 |
| HANENBERG JR., William Joseph | Director | 2020-03-18 | 2025-03-04 |
| HAYSOM, Timothy James | Director | 2002-02-06 | 2004-09-03 |
| HUGHES, David Alan | Director | — | 1999-01-07 |
| JOHANSEN-ALLISON, Nathanael Chester | Director | 2020-03-12 | 2022-11-25 |
| KEOGH, Bernard William | Director | 2004-04-20 | 2004-08-14 |
| LIU, Marc Lei | Director | 2025-03-04 | 2025-07-31 |
| METCALF, Philip Casson | Director | 2012-08-09 | 2014-09-22 |
| METCALF, Philip Casson | Director | 2002-09-04 | 2004-08-14 |
| MOLE, Peter John | Director | 2000-08-09 | 2002-02-06 |
| MOORE, George Herbert | Director | 2005-01-28 | 2006-04-30 |
| NASH, Christopher John | Director | 2002-02-12 | 2003-10-19 |
| NEILSON-WATTS, Bruce James | Director | 2014-12-22 | 2026-01-14 |
| OLSEN, Rodney James | Director | — | 1993-06-11 |
| PEMBERTON, Brian Arthur | Director | — | 1994-10-01 |
| PETTIT, Stephen Raymond | Director | 1997-04-01 | 1999-07-02 |
| PITT, Richard Stanley | Director | — | 1993-03-31 |
| PONTICELLO, Laura | Director | 2002-09-04 | 2003-02-24 |
| PREECE, Mark Alfred | Director | 2018-07-02 | 2018-10-25 |
| RAMSDEN, Rex Michael Joseph | Director | 1995-04-01 | 1999-03-04 |
| RATTNER, David Leonard | Director | 2020-03-18 | 2025-03-04 |
| RICKARDS, David Ernest, Captain | Director | 1992-02-18 | 1996-12-31 |
| RIOS, Jose Antonio | Director | 2002-08-23 | 2004-08-14 |
| RODGERS, Paul Terry | Director | 2004-11-16 | 2007-10-08 |
| RUHAN, Andrew Joseph | Director | 2004-08-13 | 2012-12-11 |
| RUHAN, Gabriel Martin | Director | 2006-11-01 | 2014-05-30 |
| SALERNO, Donald Carl | Director | 2002-02-12 | 2002-05-02 |
| SCHWARTZ, Larry Wayne | Director | 2007-01-10 | 2009-07-21 |
| SCHWARTZ, Larry Wayne | Director | 2004-08-13 | 2005-01-28 |
| SCOTT, Stephen Derrick | Director | 2007-01-10 | 2014-07-04 |
| SHAHA, Mark Roy Charles | Director | 2022-10-10 | 2026-01-14 |
| SHINE, Barry Clive | Director | 1996-08-08 | 2000-04-18 |
| SIMKINS, John Anthony Benjamin | Director | 2005-04-05 | 2006-04-30 |
| SIMKINS, John Anthony Benjamin | Director | 1994-12-16 | 1995-03-17 |
| SKENTELBERY, David Charles | Director | 1997-07-01 | 2000-08-09 |
| STICKLER, Dawna Marie | Director | 2014-07-04 | 2014-09-22 |
| TAY, Sharon Lin Li | Director | 2025-03-04 | 2025-04-24 |
| TAYLOR, John James | Director | 2019-12-12 | 2022-01-31 |
| WAGNER, Daniel James | Director | 2002-02-12 | 2004-08-14 |
| WHITE, Andrew Francis | Director | 2016-02-03 | 2016-11-01 |
| WICKHAM, David Ian | Director | 1996-03-01 | 1999-07-02 |
| WILSON, Peter Rowland | Director | 2008-02-04 | 2010-09-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Global Marine Holdings Limited | Corporate entity | Shares 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 515 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-23 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-23 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-23 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-23 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-16 | CH01 | officers | Change person director company with change date | |
| 2025-12-15 | CH01 | officers | Change person director company with change date | |
| 2025-12-15 | CH01 | officers | Change person director company with change date | |
| 2025-10-31 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-10-31 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-10-31 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-09-12 | AA | accounts | Accounts with accounts type group | |
| 2025-08-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-17 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-17 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-08 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 0
- Officers appointed
- 4
- Officers resigned
- 4
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-1.7%
£133,527,057 £131,286,879
-
Cash
-27%
£18,022,239 £13,151,964
-
Net assets
+28.1%
£60,996,294 £78,164,566
-
Employees
-19.2%
459 371
-
Operating profit
+252%
-£10,203,855 £15,507,042
-
Profit before tax
+306.7%
-£8,648,629 £17,872,498
-
Wages
-9.1%
£27,676,056 £25,144,552
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