SUBSEA 7 OFFSHORE RESOURCES (UK) LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-09-19 (in 4mo)
Last made up 2025-09-05
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
£2B
+1.7% vs 2023
Employees
0
Average over period
Profit before tax
£186M
+2.2% vs 2023
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £155,475,908 | £169,108,228 | |
| Operating profit | £175,740,549 | £174,123,795 | |
| Profit before tax | £182,100,815 | £186,145,293 | |
| Net profit | £172,392,884 | £179,270,571 | |
| Cash | — | — | |
| Total assets less current liabilities | £1,862,667,161 | £1,893,791,698 | |
| Net assets | £1,849,979,985 | £1,880,992,587 | |
| Equity | £1,849,979,985 | £1,880,992,587 | |
| Average employees | 0 | 0 | |
| Wages | — | — |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 113.0% | 103.0% | |
| Net margin | 110.9% | 106.0% | |
| Return on capital employed | 9.4% | 9.2% | |
| Gearing (liabilities / total assets) | 2.3% | 1.8% | |
| Current ratio | 3.92x | 9.06x | |
| Interest cover | 79020.03x | 228.94x |
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 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors consider that the going concern assumption remains appropriate for the Company. In forming that conclusion, the Directors have taken into consideration the potential completion of the proposed merger with Saipem S.p.A. The Directors consider that there are no significant doubts over the application of the going concern assumption and no disclosable material uncertainties which cast doubt upon the Company's ability to continue as a going concern.”
Group structure
- SUBSEA 7 OFFSHORE RESOURCES (UK) LIMITED · parent
- Subsea 7 Shipping Limited 100%
Significant events
- “On 23 February 2025, Subsea 7 S.A., the ultimate parent company of the Group, announced an agreement in principle on the key terms of a proposed merger with Saipem S.p.A.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ELLIS, Simon David | Director | 2014-10-14 | Feb 1975 | British |
| GORDON, John Alexander | Director | 2011-09-05 | Sep 1967 | British |
| TAME, Jonathan Richard | Director | 2020-10-01 | Aug 1965 | British |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| SMEETS, Ludovica Johanna Hubertina | Secretary | 2011-09-05 | 2013-09-01 |
| CAILLEAUX, Gael Jean Marie | Director | 2011-09-05 | 2013-09-30 |
| GRAY, Gary George | Director | 2011-09-05 | 2014-07-11 |
| MCDONALD, Neil | Director | 2018-04-20 | 2020-10-01 |
| MCNEILL, Stephen Anthony | Director | 2013-09-30 | 2018-04-20 |
| TAME, Jonathan Richard | Director | 2011-09-05 | 2018-04-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Subsea 7 International Holdings (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2020-10-23 | Active |
| Subsea 7 Senior Holdings (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2020-10-23 |
Filing timeline
Last 20 of 62 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-09-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-24 | AA | accounts | Accounts with accounts type full | |
| 2024-09-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-28 | AA | accounts | Accounts with accounts type full | |
| 2024-02-29 | CH01 | officers | Change person director company with change date | |
| 2023-10-10 | AA | accounts | Accounts with accounts type full | |
| 2023-09-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-07 | AA | accounts | Accounts with accounts type full | |
| 2022-09-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-01-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-12-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-12-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-09-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-09-11 | AA | accounts | Accounts with accounts type full | |
| 2020-11-13 | AP01 | officers | Appoint person director company with name date | |
| 2020-11-12 | TM01 | officers | Termination director company with name termination date | |
| 2020-11-03 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2020-11-03 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2020-09-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-09-02 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+8.8%
£155,475,908 £169,108,228
-
Cash
—
Not reported
-
Net assets
+1.7%
£1,849,979,985 £1,880,992,587
-
Employees
—
Not reported
-
Operating profit
-0.9%
£175,740,549 £174,123,795
-
Profit before tax
+2.2%
£182,100,815 £186,145,293
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