ITHACA SP O&G LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-18 (in 6mo)
Last made up 2025-11-04
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
-£70M
-611.8% vs 2023
Employees
0
Average over period
Profit before tax
-£103M
-62.9% vs 2023
Name history
Renamed 1 time since incorporation
- ITHACA SP O&G LIMITED 2022-07-01 → present
- SICCAR POINT ENERGY U.K. LIMITED 2015-11-05 → 2022-07-01
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £49,539,659 | £87,326,909 | |
| Operating profit | -£38,341,735 | -£71,998,517 | |
| Profit before tax | -£63,418,829 | -£103,295,033 | |
| Net profit | -£34,482,580 | -£60,232,024 | |
| Cash | — | — | |
| Total assets less current liabilities | £32,495,923 | -£16,861,379 | |
| Net assets | -£9,844,329 | -£70,076,353 | |
| Equity | -£9,844,329 | -£70,076,353 | |
| 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 | -77.4% | -82.4% | |
| Net margin | -69.6% | -69.0% | |
| Return on capital employed | -118.0% | 427.0% | |
| Gearing (liabilities / total assets) | 102.2% | 115.6% | |
| Current ratio | 0.05x | 0.03x | |
| Interest cover | -1.53x | -2.30x |
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
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on their assessment of the Group's financial position to the period 31 December 2026, the Company's Directors believe that the Group will be able to continue in operational existence and provide any necessary financial support to the Company for the 12 months from the date of signing. Accordingly, they continue to adopt the going concern basis of accounting in preparing the Company's financial statements.”
Significant events
- “On 29 January 2025, the Group announced a reorganisation and streamlining of the organisational structure for onshore staff which completed in 1H 2025. There is no significant impact on the Company as the Company has no employees.”
- “On 7 July 2023, the inter-company group acquisition of Captain from Ithaca Minerals (North Sea) Limited respectively generated goodwill of $99.7m.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 2022-06-30 | — | — |
| FRIEDMAN, Yaniv | Director | 2024-07-01 | Apr 1974 | Israeli |
| LEWIS, Iain Clifford Scobbie | Director | 2022-09-01 | Dec 1977 | British |
| MCATEER, Julie Elizabeth | Director | 2024-05-27 | Mar 1969 | British |
| VASQUES, Luciano Maria | Director | 2024-10-03 | Apr 1963 | Italian |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| SHEACH, David Alexander | Secretary | 2015-11-05 | 2022-06-30 |
| BARTHOLOMEW, Iain Douglas, Dr | Director | 2015-11-05 | 2022-06-30 |
| BRUCE, Alan Alexander | Director | 2022-06-30 | 2024-01-04 |
| CRAWFORD, David Andrew | Director | 2022-06-30 | 2022-09-01 |
| FLEMING, Douglas Weir | Director | 2015-11-05 | 2022-06-30 |
| MYERSON, Gilad | Director | 2022-06-30 | 2024-05-27 |
| ROGER, Jonathan Leslie | Director | 2015-11-05 | 2022-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ithaca Spe Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 61 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-08-03 RESOLUTIONS Resolution
- 2023-08-03 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-27 | AA | accounts | Accounts with accounts type full | |
| 2025-12-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-01 | CH01 | officers | Change person director company with change date | |
| 2024-12-06 | AA | accounts | Accounts with accounts type full | |
| 2024-11-19 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2024-11-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-28 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2024-10-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-10-20 | CH01 | officers | Change person director company with change date | |
| 2024-10-18 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-25 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-25 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-12 | TM01 | officers | Termination director company with name termination date | |
| 2024-01-08 | AA | accounts | Accounts with accounts type full | |
| 2023-12-07 | CH01 | officers | Change person director company with change date | |
| 2023-09-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-08-03 | RESOLUTIONS | resolution | Resolution | |
| 2023-08-03 | MA | incorporation | Memorandum articles |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- 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
+76.3%
£49,539,659 £87,326,909
-
Cash
—
Not reported
-
Net assets
-611.8%
-£9,844,329 -£70,076,353
-
Employees
—
Not reported
-
Operating profit
-87.8%
-£38,341,735 -£71,998,517
-
Profit before tax
-62.9%
-£63,418,829 -£103,295,033
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