FRANK'S TUBULARS INTERNATIONAL 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

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company has net liabilities of ($395,000) as at 31 December 2024 (2023: net liabilities $286,000). The financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons. The directors have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the company will have sufficient funds, through funding from its ultimate parent company to meet its liabilities as they fall due for that period. Additionally, the directors have no intention to wind up the company and plan to resume operational activity in Q'4 2025 when it is safe to operate in Israel, as new projects are expected.”

Significant events

• “Activity levels in Israel have continued to decline, primarily due to the completion of existing projects and the initiation and completion of a Well Test project during the current year. Operations in the country remain limited, largely due to the ongoing political uncertainty.”
• “This trend is expected to improve slightly in the coming years following the recent contract win of a Tubular Running Service (TRS), which provides an encouraging outlook for the Company's activities in Israel.”
• “The potential reimplementation of tariffs in the U.S. introduces a layer of uncertainty for the industry. The proposed tariffs on imports from key trade partners in Europe including Israel (where Frank's Tubulars International Limited primarily operates) could disrupt established energy trade”

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

Filings

2

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

  -33%

  £1,249,815 → £837,658

• Cash

  +88.8%

  £1,789,474 → £3,378,058

• Net assets

  -38.1%

  -£212,009 → -£292,809

• Employees

  —

  Not reported

• Operating profit

  +58.5%

  -£292,809 → -£121,572

• Profit before tax

  -176.3%

  £159,377 → -£121,572

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