INTECSEA (UK) LIMITED

• ⚠

  Material uncertainty over going concern

  It is the responsibility of the Directors to prepare the financial statements on a going concern basis, unless it is inappropriate to assume that the Company will continue in business. It is the intention of the Directors to cease trade in this entity over the coming 12 months following the strategic decision that any new contracts that are won being operated by Worley Europe Limited, a fellow Worley group company. The Directors therefore have a reasonable expectation that the Company will cease all operational existence in the near future. Accordingly, the Directors have adopted a basis other than going concern in preparing these financial statements.

1. INTECSEA (UK) LIMITED 2009-01-15 → present
2. INTECSEA, LTD. 2008-12-30 → 2009-01-15
3. INTECSEA (UK) LIMITED 2008-09-29 → 2008-12-30
4. INTEC ENGINEERING (U.K.) LIMITED 1992-01-09 → 2008-09-29
5. ZELDERIDGE LIMITED 1991-12-03 → 1992-01-09

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

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“It is the responsibility of the Directors to prepare the financial statements on a going concern basis, unless it is inappropriate to assume that the Company will continue in business. It is the intention of the Directors to cease trade in this entity over the coming 12 months following the strategic decision that any new contracts that are won being operated by Worley Europe Limited, a fellow Worley group company. The Directors therefore have a reasonable expectation that the Company will cease all operational existence in the near future. Accordingly, the Directors have adopted a basis other than going concern in preparing these financial statements.”

Group structure

1. INTECSEA (UK) LIMITED · parent
   1. Worley Sakhneftegaz 0.01% · Russia · providing engineering and project management services across the chemicals, oil refining, sulphur management, and fixed offshore pipeline industries.

Significant events

• “Due to all new contracts being entered into by Worley Europe Limited, the company will cease trading in the near future.”
• “The Directors have adopted a basis other than going concern in preparing these financial statements.”
• “The Company owns a 1% share in Worley Sakhneftegaz, a company registered in Russia... This means that this entity is now dormant and is being managed by a local law firm to close the entity when Russian law permits.”

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

Filings

4

last 12 months

Capital events

0

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

  —

  Not reported

• Cash

  -39.3%

  £173,000 → £105,000

• Net assets

  -10.6%

  £1,715,000 → £1,534,000

• Employees

  —

  Not reported

• Operating profit

  +26.5%

  -£226,000 → -£166,000

• Profit before tax

  -50.6%

  -£160,000 → -£241,000

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