GULF KEYSTONE PETROLEUM (UK) LIMITED

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

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Upon review of the Group's forecasts and taking into account the applicable risks, stress test scenarios and potential mitigating actions, there is a reasonable expectation that the Group and therefore the Company have adequate resources to continue to operate for the foreseeable future. Thus, the going concern basis of accounting is used to prepare the financial statements.”

Significant events

• “Closure of the Iraq-Türkiye pipeline ("ITP") in March 2023.”
• “Group significantly reduced expenditures to preserve liquidity while pipeline remains closed.”
• “Throughout 2024 and up to date of report in 2025, due to stabilising local sales volumes, Group significantly improved its working capital position.”
• “Group distributed $45 million to shareholders in 2024 via buybacks and dividends, with further $25 million interim dividend in April 2025.”
• “Potential decline in local sales and delays in Kurdistan Regional Government ("KRG") revenue receipts once ITP reopens are uncertainties.”
• “In February 2025, Iraqi Parliament approved an amendment to Article 12 of the Iraqi 2023-2025 Budget Law, potentially facilitating resumption of Kurdistan's oil exports.”

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

Filings

2

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

  +4.5%

  £10,700,000 → £11,179,000

• Cash

  +39.4%

  £700,000 → £976,000

• Net assets

  -3%

  £19,118,000 → £18,536,000

• Employees

  -4.2%

  24 → 23

• Operating profit

  -155.5%

  £1,876,000 → -£1,041,000

• Profit before tax

  -159.2%

  £1,824,000 → -£1,079,000

• Wages

  +102.3%

  £3,391,000 → £6,860,000

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