LUTECH RESOURCES LIMITED

1. LUTECH RESOURCES LIMITED 2007-11-20 → present
2. ABB LUTECH RESOURCES LIMITED 1996-01-09 → 2007-11-20
3. LUTECH LIMITED 1992-12-02 → 1996-01-09
4. LUMMUS TECHNICAL SERVICES LIMITED 1992-11-24 → 1992-12-02
5. WIDECROFT LIMITED 1992-06-26 → 1992-11-24

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 102

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company made a loss for the year before tax of £87,236 (2023: profit £256,950). The company has net assets of £4,965,383 and the director's forecasts taking account of possible changes in trading performance, show that the company has adequate resources to continue to operate for the foreseeable future. In June 2023, the Company's ultimate parent undertaking, McDermott International Limited, was found liable for a substantial liability as a result of an outstanding project arbitration matter. In September 2023, McDermott International Limited entered into a Transaction Support Agreement, which launched a series of Restructure plans through three non-US entities, that collectively de-levered McDermott International Limited's balance sheet, including discharging the project arbitration liabilities and extending the maturity of the McDermott Group's credit agreements. The Restructure Plan was sanctioned in the US in March 2024 and as a result, McDermott International Limited does not have any obligation to settle this liability and the credit facilities were extended. The Company's Director has reviewed the cash flow forecasts of the Group through 30 September 2026, and concluded that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Director continues to adopt the going concern basis in preparing the annual report and financial statements.”

Significant events

• “In June 2023, the Company's ultimate parent undertaking, McDermott International Limited, was found liable for a substantial liability as a result of an outstanding project arbitration matter. In September 2023, McDermott International Limited entered into a Transaction Support Agreement, which launched a series of Restructure plans through three non-US entities, that collectively de-levered McDermott International Limited's balance sheet, including discharging the project arbitration liabilities and extending the maturity of the McDermott Group's credit agreements. The Restructure Plan was sanctioned in the US in March 2024 and as a result, McDermott International Limited does not have any obligation to settle this liability and the credit facilities were extended.”

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

  -6%

  £18,901,449 → £17,772,577

• Cash

  +23.5%

  £673,808 → £832,039

• Net assets

  -1.3%

  £5,030,689 → £4,965,383

• Employees

  +11.1%

  36 → 40

• Operating profit

  -5.5%

  £468,169 → £442,226

• Profit before tax

  -134%

  £256,950 → -£87,236

• Wages

  +11.3%

  £2,820,743 → £3,139,633

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