GUNVOR UK LIMITED

Company number

11629504

Status

Active

Incorporation

2018-10-18

Last accounts made up

2024-12-31

Account category

FULL

Primary SIC

35230

Hubs

UK Energy & Climate

Values shown as filed in iXBRL accounts. — indicates the figure was not present in the extracted filing (either not filed under that concept or absent from the period). About these numbers

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Bourner Bullock Chartered Accountants

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company is dependent on the support of the Group as a going concern. The directors consider it appropriate to prepare the accounts on a going concern basis as that assumes further support will be obtained when and if needed. 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 original financial statements were authorised for issue.”

Significant events

• “In 2024, the Company continued its track record of solid performance, posting a net profit of GBP 28 million. The result reflects a return to more normalised energy markets compared with the previous two years, which featured significant volatility related to the global pandemic, the energy crisis, and international sanctions on Russia.”
• “The Company's revenue decreased to GBP 96 million reflective of the decline in commodities prices, down from GBP 147 million the previous year. The Company continued to focus on trading energy transition commodities.”
• “During the year the Company declared and paid a dividend of GBP 100 million. No further dividends have been declared or paid by the Company since the end of the financial year.”
• “The Gunvor Group's strength—which has enabled it to become one of the largest independent traders in the world—is in being agile and entrepreneurial in the face of new challenges, changing markets, and rapidly identifying and pursuing opportunities. Advanced analytics ensure quick decision-making. Sound governance and robust compliance limit risk.”
• “Gunvor further upholds a working environment that fosters openness, cooperation, and interaction. It seeks to stimulate innovation and improvement, and encourage employees to bring new ideas and speak their minds.”
• “To help foster the next generation of trading talent, Gunvor launched during the year its own Graduate Program, an opportunity for young, talented professionals who are eager to learn about and to work in the world's energy supply chain, on global and local levels.”
• “Environment and community: Gunvor continued to focus on trading energy transition commodities, which comprised more than 30% of total traded volumes.”
• “Risk management and business conduct: Capitalising on the 2024 resolution of all investigations relating to Ecuador business with the U.S. and Swiss authorities, the Group has undertaken a project to review and enhance its Global Compliance program.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers