GLOBAL MARINE GROUP HOLDINGS LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-02-06 (in 9mo)
Last made up 2026-01-23
Watchouts
Cash
£13M
-27% vs 2023
Net assets
-£11M
+24.7% vs 2023
Employees
371
-18.8% vs 2023
Profit before tax
£4M
+117.2% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
5 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Name history
Renamed 1 time since incorporation
- GLOBAL MARINE GROUP HOLDINGS LIMITED 2025-06-26 → present
- JFL-GMG HOLDINGS, LTD 2020-01-24 → 2025-06-26
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 | £133,527,057 | £131,286,879 | |
| Operating profit | -£12,930,319 | £10,936,990 | |
| Profit before tax | -£24,198,666 | £4,161,601 | |
| Net profit | -£24,694,589 | £4,120,089 | |
| Cash | £18,063,010 | £13,192,735 | |
| Total assets less current liabilities | £81,570,052 | -£3,237,954 | |
| Net assets | -£13,967,383 | -£10,513,714 | |
| Equity | -£13,967,383 | -£10,513,714 | |
| Average employees | 457 | 371 | |
| Wages | £27,676,056 | £25,144,552 |
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 | -9.7% | 8.3% | |
| Net margin | -18.5% | 3.1% | |
| Return on capital employed | -15.9% | -337.8% | |
| Gearing (liabilities / total assets) | 106.7% | 107.3% | |
| Current ratio | 0.82x | 0.39x | |
| Interest cover | -0.75x | 0.91x |
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 102
- Reporting scope
- Consolidated group
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have assessed the wider Group's projected business activities and available financial resources and detailed cash forecasts. This includes a review of a base case and reasonably plausible downside scenarios and in all cases the group has sufficient means to continue as a going concern for a period of not less than twelve months from the signing date. After making appropriate inquiries the directors have a reasonable expectation that the wider group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors' continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- GLOBAL MARINE GROUP HOLDINGS LIMITED · parent
- Trafalgar AcquistionCo Limited 100%
- Global Marine Holdings Limited 100%
- Global Marine Systems Limited 100%
- Global Marine Systems (Americas) Inc 100%
- Global Marine Cable Systems Pte Limited 100%
- Vibro-Einspultechnik Dukerund Wasserbau GmbH 100%
- Global Marine Systems (Depots) Limited 100%
- Global Marine Systems (Guernsey) Limited 100%
- Global Marine Systems Pension Trustee Limited 100%
- Global Marine Systems (Bermuda) Limited 100%
- Global Marine Systems (Investments) Limited 100%
- Global Marine Systems (Vessels II) Limited 100%
- Red Sky Subsea Limited 100%
- Global Marine Systems (Vessels) Limited 100%
- Global Marine Search Limited 100%
- Global Marine Systems (Netherlands) BV 100%
- Global Marine Systems Oil & Gas Limited 100%
- GMSL Employee Benefit Trust Limited 100%
Significant events
- “Subsequent to year end on 04 March 2025, Keppel Infrastructure Fund ("KIF") completed the acquisition of JFL-GMG Holdings Ltd Group.”
- “On 04 March 2025 the term loan owed to Deutsche Bank of $31m and the second lien lending owed to JFL-GMG Holdings LLC of $61m was repaid in full.”
- “On 30 July 2024, JFL-GMG sold its entire holding of 265,564 shares in RovCo Limited to JFL-ROV-HOLDCO LTD, a company also under the control of JFL-GMG Holdings LLC, for $3.2m.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 14 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CABLE, Jaime Violet | Secretary | 2020-03-17 | — | — |
| DESLANDES, Paul Stephen | Director | 2026-01-14 | Nov 1974 | British |
| MAH, Su Hui Sabrina | Director | 2025-07-31 | Nov 1987 | Singaporean |
| PEARCE, Stephen Clarke | Director | 2026-01-14 | May 1971 | British |
| POON, Jonathan Chun Yu | Director | 2025-04-25 | Sep 1988 | Hong Konger |
| TANG, Yuen Yee | Director | 2025-05-07 | Feb 1989 | Malaysian |
| THOMSON, Leanne Maree | Director | 2022-12-01 | Apr 1969 | British |
Show 14 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ALLISON, Nathanael Chester | Director | 2020-03-17 | 2022-11-25 |
| CHIANG, Chang Jopy | Director | 2025-03-04 | 2025-05-07 |
| DANIEL, Michael John | Director | 2020-03-17 | 2021-09-20 |
| DOUGLAS, Ian David | Director | 2020-03-17 | 2022-10-10 |
| FAGERSTAL, Dick Helgeson | Director | 2020-03-17 | 2025-03-04 |
| GILLESPIE, Mark Alexander | Director | 2021-09-20 | 2022-05-13 |
| HARMAN, Alexander | Director | 2020-01-24 | 2025-03-04 |
| LIU, Marc Lei | Director | 2025-03-04 | 2025-07-31 |
| NEILSON-WATTS, Bruce James | Director | 2020-03-17 | 2026-01-14 |
| RATTNER, David Leonard | Director | 2020-01-24 | 2025-03-04 |
| SHAHA, Mark Roy Charles | Director | 2022-10-10 | 2026-01-14 |
| TANG, Yee Yuen | Director | 2025-05-05 | 2025-05-05 |
| TAY, Sharon Lin Li | Director | 2025-03-04 | 2025-04-24 |
| TAYLOR, John James | Director | 2020-03-17 | 2022-01-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Pangea Uk Bidco Limited | Corporate entity | Shares 75–100% | 2026-04-22 | Active |
Filing timeline
Last 20 of 74 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-30 RESOLUTIONS Resolution
- 2025-06-26 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-24 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2026-04-24 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2026-03-30 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2026-03-30 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-30 | SH20 | capital | Legacy | |
| 2026-03-30 | CAP-SS | insolvency | Legacy | |
| 2026-01-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-23 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-23 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-23 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-23 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-16 | CH01 | officers | Change person director company with change date | |
| 2025-12-15 | CH01 | officers | Change person director company with change date | |
| 2025-12-15 | CH01 | officers | Change person director company with change date | |
| 2025-09-15 | AA | accounts | Accounts with accounts type group | |
| 2025-08-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-26 | CERTNM | change-of-name | Certificate change of name company | |
| 2025-06-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 2
- Officers appointed
- 4
- Officers resigned
- 5
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
-1.7%
£133,527,057 £131,286,879
-
Cash
-27%
£18,063,010 £13,192,735
-
Net assets
+24.7%
-£13,967,383 -£10,513,714
-
Employees
-18.8%
457 371
-
Operating profit
+184.6%
-£12,930,319 £10,936,990
-
Profit before tax
+117.2%
-£24,198,666 £4,161,601
-
Wages
-9.1%
£27,676,056 £25,144,552
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