AQUATERRA ENERGY 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 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company meets its day-to-day working capital requirements through its banking facilities, and this is monitored daily. The group's facilities with its bank were renegotiated in 2022 and are in place until December 2026. After reviewing the company's forecasts and projections, which cover the 12-month period from the date of signing the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue trading for the foreseeable future. These forecasts and projections have considered a downside scenario in revenue levels; however, management have also identified mitigating actions that could be taken to ensure that the company has sufficient funds to meet liabilities as they fall due over the next 12 months should this downside scenario materialise. The directors have also considered the recent volatility within global markets brought about by changes to trade tariff policy in the USA. The company has limited exposure to the US market and given the early stage to such policy changes, coupled with the high likelihood of further changes to policy, the longer-term impact is difficult to assess. Regardless, the company has sufficient certainty within the current order backlog, available liquidity and associated risk mitigation processes in place to ensure the business is well placed to withstand such volatility over the next 12-months. The directors have therefore concluded that the company has sufficient forecast cash flows to continue to trade as a going concern for a period of at least 12 months after the signing date. The company has therefore adopted the going concern basis in preparing its financial statements.”

Group structure

1. AQUATERRA ENERGY LIMITED · parent
   1. Aquaterra Energy (EBT Trustees Limited) 100%
   2. Aquaterra Energy Egypt Free Zone (S.A.Ε) 85% · Egypt
   3. Aquaterra Energy Asia Pacific Sdn Bhd 100% · Malaysia
   4. Aquaterra Energy (Holdings) Limited 100%

Significant events

• “During the year we reached a key development milestone in delivering patent pending technology aimed at legacy well re-entry and re-abandonment services in offshore reservoirs earmarked for carbon dioxide (CO2) and hydrogen storage in support of the energy transition. We have a number of major offshore operators and CCS specialists across key global regions, including the North Sea and South-East Asia who are actively assessing how this innovative technology can support them in delivering on their sustainability initiatives whilst at the same time improving their costs of operation.”
• “Our teams continued to deliver industry-leading equipment and solutions, supporting drilling, intervention, and abandonment operations worldwide. Our expertise in well access has been instrumental in helping operators overcome complex offshore challenges, reinforcing our position as a trusted industry partner. As part of our continued leadership in field development solutions, the design of our first 100% solar-powered Sea Swift platform in Angola was successfully installed marking a major achievement. The project generated over 1.2 million hours of local development content and was delivered on schedule with zero lost time incidents, underscoring our commitment to operational excellence, health and safety, and sustainability.”

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

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +15.5%

  £25,267,000 → £29,173,000

• Cash

  -26.3%

  £1,993,000 → £1,469,000

• Net assets

  +9.9%

  £12,674,000 → £13,928,000

• Employees

  -6%

  117 → 110

• Operating profit

  +211.2%

  -£1,532,000 → £1,703,000

• Profit before tax

  +211.9%

  -£1,517,000 → £1,697,000

• Wages

  -1.8%

  £6,574,000 → £6,455,000

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