BORR ARABIA III (UK) LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-02-12 (in 9mo)
Last made up 2026-01-29
Watchouts
None on the register
Cash
£23K
+244.4% vs 2023
Net assets
£9M
+996.2% vs 2023
Employees
—
Average over period
Profit before tax
£11M
+1,690.4% vs 2023
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 | £6,651,594 | £25,305,411 | |
| Operating profit | -£470,719 | £11,002,224 | |
| Profit before tax | -£687,176 | £10,928,836 | |
| Net profit | -£1,020,015 | £10,161,601 | |
| Cash | £6,672 | £22,980 | |
| Total assets less current liabilities | -£1,020,015 | £93,154,188 | |
| Net assets | -£1,020,015 | £9,141,586 | |
| Equity | -£1,020,015 | £9,141,586 | |
| Average employees | — | — | |
| 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 | -7.1% | 43.5% | |
| Net margin | -15.3% | 40.2% | |
| Return on capital employed | 46.1% | 11.8% | |
| Current ratio | 0.22x | 0.94x | |
| Interest cover | — | 34.28x |
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
- 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 operating profit for the year ended December 31, 2024 is $14.8 million and was principally generated by the charter of the jack up rig 'Arabia III'. The operating loss in the period ended December 31, 2023 of $0.6 million arose as the jack up rig 'Arabia III' was acquired in February 2023 and began depreciation at this point, however the charter of the jack up rig 'Arabia III' did not commence until August 29, 2023 leading to an operational loss in the period ended December 31, 2023).”
- “In the period ended December 31, 2023, the Company surrendered a total of $5.4 million of group relief to inter-affiliate companies at no cost. At the date of surrender, the Company had insufficient distributable reserves to support the distribution at the time. As a result, during 2024, the Board of the Company resolved to retrospectively charged for the amounts surrendered, resulting in amounts recorded through 'Income tax charge' in the statement of comprehensive income of $0.8 million being the determined value of surrendered relief.”
- “In March 2024 and August 2024, Borr IHC Limited issued $200.0 million and $150.0 million principal amount of additional 10% Senior Secured Notes due in 2028, respectively, under the same terms and conditions as the $1,025.0 million Senior Secured Notes due 2028 issued in November 2023. In addition, in August 2024, the Company amended the $30.0 million Guarantee Facility which is part of the $180 million Super Senior Credit Facility by increasing the Guarantee Facility to $45.0 million and the total Super Senior Credit Facility to $195.0 million.”
- “Pursuant to a Loan Agreement dated December 19, 2024 between the Company and Borr (UK) Holdings Limited with a maturity on April 30, 2031, the loan attracts interest at 10% per annum and and is unsecured, repayments of 1/72 of the principal of $120 million are due on a quarterly basis beginning with January 1, 2025, therefore $6.7 million is shown within Creditors: amounts falling due within one year.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BRODIES SECRETARIAL SERVICES LIMITED | Corporate Secretary | 2023-01-30 | — | — |
| DE ROSSI, Valerio, Dr | Director | 2023-01-30 | May 1967 | Italian |
| TINDALL, Christopher David | Director | 2025-06-20 | May 1993 | British |
| TOBING, Joseph Amudi Lumban | Director | 2023-01-30 | May 1973 | Indonesian |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| LIE, Andreas Lavik | Director | 2023-01-30 | 2025-06-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Borr (Uk) Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-01-22 | Active |
| Borr Jack-Up Assets (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-01-30 | Ceased 2024-01-22 |
Filing timeline
Last 20 of 35 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-09-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-09-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-09-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-09-05 | AA | accounts | Accounts with accounts type full | |
| 2025-06-25 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-25 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-09-25 | AA | accounts | Accounts with accounts type full | |
| 2024-08-21 | AA01 | accounts | Change account reference date company previous shortened | |
| 2024-08-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-08-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-08-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-03-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-01-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-01-30 | CH01 | officers | Change person director company with change date | |
| 2024-01-29 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
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
+280.4%
£6,651,594 £25,305,411
-
Cash
+244.4%
£6,672 £22,980
-
Net assets
+996.2%
-£1,020,015 £9,141,586
-
Employees
—
Not reported
-
Operating profit
+2,437.3%
-£470,719 £11,002,224
-
Profit before tax
+1,690.4%
-£687,176 £10,928,836
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