BORR GALAR (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 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors, based on the current financial projections and the facilities available, in addition to taking into account reasonably possible changes in trading performance and making enquiries, believe that the Company has adequate financial resources to continue in operation for the foreseeable future. The directors have received confirmation that the ultimate parent company, Borr Drilling Limited, will provide further funding to the Company as required for a period of at least 12 months after these financial statements are signed. For this reason, they continue to adopt the going concern basis in preparing the financial statements.”

Significant events

• “The rig operations were suspended on January 8, 2025 and the rig recommenced operations on May 14, 2025.”
• “Effective April 1, 2024, the bareboat charter agreements were terminated. Also effective April 1, 2024, the Company entered into a new fixed-rate bareboat charter agreement with Irish Energy Drilling Assets, DAC ("Irco"). The new bareboat charter agreement is expected to remain in effect until December 31, 2025.”
• “On January 8, 2025, the Company received a notice of temporary suspension of operation for the rig "Galar". The rig resumed operations in May 14, 2025. The Company and Irco have agreed to extend the contract by the length of the suspension period so the contract will now end on May 7, 2026.”

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

Filings

12

last 12 months

Capital events

2

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  -2.1%

  £19,432,913 → £19,017,791

• Cash

  —

  Not reported

• Net assets

  +13.7%

  £29,002,965 → £32,981,468

• Employees

  —

  Not reported

• Operating profit

  -41.2%

  £22,073,388 → £12,969,607

• Profit before tax

  -63.7%

  £12,738,325 → £4,627,872

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