WELL-SAFE SOLUTIONS LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2027-02-21 (in 9mo)
Last made up 2026-02-07
Watchouts
None on the register
Cash
£8M
Latest balance sheet
Net assets
-£24M
Equity attributable
Employees
—
Average over period
Profit before tax
-£60M
Period ending 2025-03-31
Name history
Renamed 1 time since incorporation
- WELL-SAFE SOLUTIONS LIMITED 2017-02-16 → present
- SLLP 181 LIMITED 2017-02-08 → 2017-02-16
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £129,122,000 | £90,924,000 | |
| Operating profit | £4,239,000 | -£45,165,000 | |
| Profit before tax | -£5,212,000 | -£59,992,000 | |
| Net profit | -£4,339,000 | -£61,666,000 | |
| Cash | — | £8,151,000 | |
| Total assets less current liabilities | — | — | |
| Net assets | — | -£23,761,000 | |
| Equity | — | -£23,761,000 | |
| Average employees | — | — | |
| Wages | £30,597,000 | £32,480,000 |
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 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 3.3% | -49.7% | |
| Net margin | -3.4% | -67.8% | |
| Current ratio | — | 1.58x | |
| Interest cover | 0.44x | -3.03x |
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
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Management and Directors have performed their annual going concern assessment based on 2 plausible scenarios, a base case and low case cash flow forecast, for the going concern assessment period to 31 March 2027 and have concluded that the going concern basis of preparation of the financial statements remains appropriate. In addition, the Directors considered the recent extension of bondholder debt and obtained a letter of support from the principal shareholder, Glenrinnes Farms Limited, who has confirmed that it will provide any required additional funding to support Well-Safe Solutions Limited until at least 31 March 2027.”
Group structure
- WELL-SAFE SOLUTIONS LIMITED · parent
- Well-Safe Solutions B.V. 100%
- Well-Safe Guardian Limited 100%
- Well-Safe Protector Limited 100%
- Well-Safe Defender Limited 100%
- Well-Safe Finance Limited 100%
- Well-Safe Solutions PTY Ltd 100%
- Well-Safe Asset Limited 100%
- Well-Safe Solutions Sdn. Bhd. 100%
Significant events
- “A £25m fund raising exercise was successfully completed in March 2025 to sustain the business through soft market conditions over 2025.”
- “Increased activity is now visible in 2026 and beyond, as demonstrated by a significant increase in tendering activity.”
- “A £15m bridging facility was secured in March 2026 from current investors to fund rig reactivation costs across the Group.”
- “On 26 May 2025, a 100% owned subsidiary for the Company was established in Malaysia, Well-Safe Solutions Sdn. Bhd.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MURRAY, Graeme Scott | Secretary | 2025-01-20 | — | — |
| LEITH, Derek | Director | 2024-02-01 | Mar 1963 | British |
| LOCKE, Alasdair James Dougall | Director | 2017-08-01 | Aug 1953 | British |
| METHERELL, Julian Richard | Director | 2019-10-31 | Jun 1963 | British |
| MILTON, Philip Stephen | Director | 2017-08-01 | Jul 1971 | British |
| WARWICK, Paul Cyril | Director | 2017-08-01 | Apr 1953 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CORMACK, Alan Fraser | Secretary | 2017-09-27 | 2025-01-20 |
| STRONACHS SECRETARIES LIMITED | Corporate Secretary | 2017-02-08 | 2017-09-27 |
| FORBES, Neil David | Director | 2017-02-08 | 2017-02-17 |
| PATTERSON, Mark Alexander Pirie | Director | 2017-02-17 | 2019-10-31 |
| RENNIE, David Alan | Director | 2017-02-08 | 2017-02-17 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Glenrinnes Farms Limited | Corporate entity | Shares 50–75%, Voting 25–50% | 2017-08-01 | Active |
Filing timeline
Last 20 of 97 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-04-15 MA Memorandum articles
- 2025-04-15 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-01 | AA | accounts | Accounts with accounts type group | |
| 2026-03-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-17 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-10 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-02-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-02-10 | SH10 | capital | Capital variation of rights attached to shares | |
| 2026-02-04 | SH01 | capital | Capital allotment shares | |
| 2025-12-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-02 | AA | accounts | Accounts with accounts type group | |
| 2025-04-15 | MA | incorporation | Memorandum articles | |
| 2025-04-15 | RESOLUTIONS | resolution | Resolution | |
| 2025-02-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-02-10 | SH03 | capital | Capital return purchase own shares | |
| 2025-01-22 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-01-22 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-01-17 | SH06 | capital | Capital cancellation shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 13
- Capital events
- 4
- Officers appointed
- 0
- Officers resigned
- 0
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
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31