TIRO SIDON UK LLP

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

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“With ongoing firm TSA activity until June 2026 and the potential for extension, as well as the Papa Terra O&M contract, Members have a reasonable expectation that the Partnership has adequate resources to allow it to continue to trade for the foreseeable future. Accordingly, they adopt the going concern basis in preparing the annual report and account.”

Group structure

1. TIRO SIDON UK LLP · parent
   1. OOG-TKP FPSO GmbH 0.5% · Austria · General Partner
   2. OOG-TKP FPSO GmbH & Co KG 0.5% · Austria · FPSO owner
   3. OOG-TKP Oil Services Ltd. 0.5% · Cayman Island · Oil services company
   4. OOG-TKP FPSO Producao De Petroleo Ltda 0.5% · Brazil · FPSO Operator
   5. OOG-TKP Operator Holdings Ltd 0.5% · Cayman Island · Holding company

Significant events

• “In February 2025, KG entered into an agreement with the client Karoon to sell the Cidade de Itajaí FPSO for continued use for $115 million. The vessel was delivered to its buyers in the second quarter of 2025. Following the sale of Itajaí in Q2 2025, KG entered into a Transitional Services Agreement (TSA) with Karoon. The agreement includes an option to remain in effect until the end of June 2026.”
• “In July 2025, KG received a termination notice from Brava for the Papa Terra O&M contract. In October 2025, KG reached an agreement with Brava to extend the non-termination period until the end of March 2027, during which the contract will continue at a reduced rate with eligibility for a monthly bonus. The original contract end date of December 2027, with possible extensions, remains unchanged, and from March 2027 onward the client may terminate the contract without a termination fee.”
• “In August 2025, Altera Infrastructure Holdings Limited entered into an agreement to sell its entire FPSO business to global investment firm Carlyle. The transaction is subject to customary closing conditions and regulatory approvals. The business to be acquired includes Altera Infrastructure FPSO Holdings Limited and Altera Infrastructure Production Holding Limited, together with all of their wholly-owned and non-wholly owned subsidiaries, including the Company. Upon completion of the sale, the Company will have a change in its ultimate parent. Carlyle's investment will support the Altera Infrastructure FPSO business and continue to build on a successful track record in redeployments.”
• “On 23 September 2025, Tiro Sidon UK LLP approved and paid a distribution of $36.5 million to its designated members, Altera Infrastructure Production Holdings Limited and Altera Infrastructure Coöperatief U.A., in accordance with their relevant proportions and the LLP Agreement, after confirming the LLP's ability to meet its liabilities and the fair value of its assets.”

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

Filings

4

last 12 months

Capital events

0

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.

• Turnover

  —

  Not reported

• Cash

  -99.3%

  £3,876,205 → £26,686

• Net assets

  -36.6%

  £81,401,038 → £51,590,808

• Employees

  —

  Not reported

• Operating profit

  +48.7%

  -£369,904 → -£189,770

• Profit before tax

  -25.3%

  £13,997,776 → £10,454,411

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