FIRST SUBSEA LIMITED
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Next accounts due
2027-01-31 (in 8mo)
Last filed for 2025-04-30
Confirmation statement due
2027-01-23 (in 8mo)
Last made up 2026-01-09
Watchouts
Cash
£2M
+33.2% vs 2024
Net assets
£7M
+63.6% vs 2024
Employees
95
+13.1% vs 2024
Profit before tax
£3M
+42.7% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Name history
Renamed 1 time since incorporation
- FIRST SUBSEA LIMITED 2008-03-13 → present
- B.S.W. LIMITED 1994-02-02 → 2008-03-13
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · latest reflected 2025-04-30
| Metric | Trend | 2023-05-01 | 2024-04-30 | 2025-04-30 |
|---|---|---|---|---|
| Turnover | — | £21,387,884 | £25,181,578 | |
| Operating profit | — | £2,552,122 | £3,476,540 | |
| Profit before tax | — | £2,106,052 | £3,005,875 | |
| Net profit | — | £1,767,401 | £2,840,915 | |
| Cash | — | £1,342,343 | £1,788,566 | |
| Total assets less current liabilities | — | £4,933,933 | £7,853,755 | |
| Net assets | — | £4,470,282 | £7,311,197 | |
| Equity | £2,702,881 | £4,470,282 | £7,311,197 | |
| Average employees | — | 84 | 95 | |
| Wages | — | £3,410,623 | £4,098,880 |
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 | 2023-05-01 | 2024-04-30 | 2025-04-30 |
|---|---|---|---|---|
| Operating margin | — | 11.9% | 13.8% | |
| Net margin | — | 8.3% | 11.3% | |
| Return on capital employed | — | 51.7% | 44.3% | |
| Current ratio | — | 1.27x | 1.83x | |
| Interest cover | — | 103.57x | 1702.52x |
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
- Standalone (parent only)
- Auditor
- AAB Audit & Accountancy Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Significant events
- “There have been no significant events affecting the Company since the year end.”
- “The ultimate controlling party, lan Suttie, passed away on 4 October 2025, prior to the approval of these financial statements. Control of the company remains with the directors while ownership has passed to lan Suttie's estate, which will be transferred to the beneficiaries in due course.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 16 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BROWN, Steven Michael | Director | 2019-07-01 | Jun 1988 | British |
| SUTTIE, Martin Ian | Director | 2021-12-16 | Jun 1978 | British |
Show 16 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| EMMETT, Robert | Secretary | 1994-02-02 | 2001-09-10 |
| GEORGE, Steven Richard | Secretary | 2008-01-09 | 2009-07-17 |
| MEARNS, Steven Macdonald | Secretary | 2006-08-31 | 2008-01-09 |
| OGG, Richard James | Secretary | 2011-07-11 | 2012-07-06 |
| PAULL & WILLIAMSONS | Corporate Secretary | 2001-09-10 | 2006-08-31 |
| SWIFT INCORPORATIONS LIMITED | Corporate Nominee Secretary | 1994-02-02 | 1994-02-02 |
| BROWN, Ian Munro | Director | 2001-09-10 | 2004-10-15 |
| EMMETT, Carol | Director | 1995-06-01 | 2001-09-06 |
| EMMETT, Robert | Director | 1994-02-02 | 2004-07-20 |
| FORBES, Graham Andrew | Director | 2003-04-01 | 2003-04-30 |
| GEORGE, Steven Richard | Director | 2011-07-11 | 2015-06-05 |
| HATFIELD, Desmond | Director | 2003-05-01 | 2004-05-14 |
| SHAW, John Stuart | Director | 2015-11-09 | 2025-12-31 |
| SUTTIE, Ian Alexander, Mr. | Director | 2001-09-10 | 2025-10-04 |
| WALMSLEY, Christine Elizabeth | Director | 1995-06-01 | 2001-09-10 |
| WALMSLEY, Owen | Director | 1994-02-02 | 2002-02-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| First Tech Limited | Corporate entity | Shares 75–100% | 2025-10-04 | Active |
| Mr Ian Alexander Suttie | Individual | Shares 75–100% | 2016-07-01 | Ceased 2025-10-04 |
Filing timeline
Last 20 of 127 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-21 | AA | accounts | Accounts with accounts type full | |
| 2026-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-16 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-12-16 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-11-18 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-20 | AA | accounts | Accounts with accounts type full | |
| 2025-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-01 | AA | accounts | Accounts with accounts type small | |
| 2023-01-25 | AA | accounts | Accounts with accounts type small | |
| 2023-01-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-01-21 | AA | accounts | Accounts with accounts type small | |
| 2022-01-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-16 | AP01 | officers | Appoint person director company with name date | |
| 2021-01-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-12-30 | AA | accounts | Accounts with accounts type small | |
| 2020-02-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-01-29 | AA | accounts | Accounts with accounts type small | |
| 2019-07-31 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 2
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
FY2024 → FY2025 · period ending 2025-04-30 vs 2024-04-30
-
Turnover
+17.7%
£21,387,884 £25,181,578
-
Cash
+33.2%
£1,342,343 £1,788,566
-
Net assets
+63.6%
£4,470,282 £7,311,197
-
Employees
+13.1%
84 95
-
Operating profit
+36.2%
£2,552,122 £3,476,540
-
Profit before tax
+42.7%
£2,106,052 £3,005,875
-
Wages
+20.2%
£3,410,623 £4,098,880
Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers