OCTOPUS ENERGY OPERATIONS LIMITED

• ⚠

  Material uncertainty over going concern

  Reflecting the planned transfer of customers, associated ceasing of trading and therefore planned dormant status of the company going forward the directors have prepared the financial statements on a basis other than going concern reflecting the accounting requirements for a company in a hive up situation. Assets and liabilities are expected to be transferred to the fellow subsidiary at their carrying or higher amounts which will leave a solvent net asset position going forward. Accordingly, no material adjustments arose as a result of ceasing to apply the going concern basis.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. OCTOPUS ENERGY OPERATIONS LIMITED 2023-03-17 → present
2. BULB UK OPERATIONS LIMITED 2022-10-19 → 2023-03-17
3. CARP HIVECO LIMITED 2022-10-12 → 2022-10-19

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Reflecting the planned transfer of customers, associated ceasing of trading and therefore planned dormant status of the company going forward the directors have prepared the financial statements on a basis other than going concern reflecting the accounting requirements for a company in a hive up situation. Assets and liabilities are expected to be transferred to the fellow subsidiary at their carrying or higher amounts which will leave a solvent net asset position going forward. Accordingly, no material adjustments arose as a result of ceasing to apply the going concern basis.”

Significant events

• “Effective 30 September 2024, Octopus Energy Limited, an entity within the Octopus Energy Group, acquired 100% of the issued and outstanding share capital of OEOL from Octopus Energy Retail 2022 Limited, for a cash consideration of £349.5m.”
• “During the year ended 30 April 2025, FY25, the outstanding WAMA balance of £2.8 billion was paid in line with the agreed WAMA schedule.”
• “Following the end of the financial year, in September 2025, the treatment of certain items under the WAMA, as well as the final Profit Share balance and balance sheet reconciliation were finalised and agreed with Bulb in SAR. An amount relating to the final settlement position of these items totalling £18 million has been accrued in OEOL as at 30 April 2025, on behalf of the Company and Octopus Energy Retail 2022. In September 2025, following the year end, the final position, accrued as at 30 April 2025 was paid and settled in full.”
• “After the end of the financial period, OEOL began to transfer customers to Octopus Energy Limited, being OEOL's sole shareholder and another entity within the Octopus Energy Group. This reflects the planned and agreed consolidation of customers into Octopus Energy Limited.”

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

Filings

3

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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