UK Companies House feature
FLOTATION ENERGY LIMITED
Cash
—
Latest balance sheet
Net assets
—
Equity attributable
Employees
134
+152.8% vs 2022
Profit before tax
—
Period ending 2023-12-31
Profile
- Company number
- SC597702
- Status
- Active
- Incorporation
- 2018-05-21
- Last accounts made up
- 2024-12-31
- Account category
- GROUP
- Primary SIC
- 35110
- Hubs
- UK Energy & Climate
Accounts
2-year trend · latest 2023-12-31
| Metric | Trend | 2022-12-31 | 2023-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | — | — | |
| Profit before tax | — | — | |
| Net profit | £2,238,048 | £3,031,767 | |
| Cash | — | — | |
| Total assets less current liabilities | — | — | |
| Net assets | — | — | |
| Equity | — | — | |
| Average employees | 53 | 134 | |
| Wages | — | — |
Values shown as filed in iXBRL accounts. — indicates the figure was not present in the extracted filing (either not filed under that concept or absent from the period). About these numbers
Audit & accounting basis
From AI-extracted PDF accounts
- Accounting basis
- IFRS
- Reporting scope
- Consolidated (group)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“At the time of approving the financial statements, the directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Group has received a letter of financial support from its parent company, TEPCO Renewable Power, Inc., stating its current intention to continue to provide such funding to the Company and the Group as is necessary to enable the Company and Group to continue in operational existence and to meet their liabilities as they fall due, until 31 July 2026.”
Subsidiaries
- Flotation Energy Pty Ltd · 100% held · Australia · Development of offshore wind farm sites
- Flotation Energy Taiwan Ltd · 100% held · Taiwan · Development of offshore wind farm sites
- Seadragon Offshore Wind PTY Ltd · 100% held · Australia · Development of offshore wind farm sites
- Seadragon Holdco Ltd · 100% held · Scotland · Development of offshore wind farm sites
- Taiwan Offshore Wind Ltd · 100% held · Scotland · Dormant
- Flotation Energy Japan Co. Ltd · 100% held · Japan · Development of offshore wind farm sites
- Blackwater Offshore Wind Holdco Limited · 100% held · Scotland · Dormant
- Greystones Offshore Wind Holdco Limited · 100% held · Scotland · Dormant
- White Cross Offshore Wind Holdco Ltd · 100% held · Scotland · Dormant
- Blackwater OWL Windfarm Limited · 100% held · Ireland · Dormant
- Greystones OWL Windfarm Limited · 100% held · Ireland · Dormant
- White Cross Offshore Windfarm Ltd · 100% held · Scotland · Dormant
Significant events
- “On 6 of February 2025 the Company signed a sale and purchase agreement to sell its share of Morecambe Holdco Limited. At this date the Company subscribed for 11,588,297 £1 C shares of Morecambe Holdco Limited, and the loan notes due from this entity to Flotation Energy were repaid. All shares held by Flotation Energy in Morecambe Holdco Limited, including the newly subscribed shares, were agreed to be sold. Completion on this sale transaction is expected to take place in the later part of 2025.”
- “On the 27 of February 2025, the Company issued 55,000,000 Ordinary shares of £1 each.”
- “On 25 July 2025, it was announced that the Company's Chief Executive Officer Lord Nicol Stephen will retire at the end of September 2025.”
Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers
People
6 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| FUJISHIRO, Toru | Director | 2022-11-11 | Feb 1973 | Japanese |
| HONDA, Masaki | Director | 2022-11-11 | Aug 1971 | Japanese |
| ICHIYAMA, Shinichiro | Director | 2022-11-11 | May 1972 | Japanese |
| IKENOUCHI, Takehiko | Director | 2025-07-01 | Dec 1969 | Japanese |
| MACLEOD, Barry John | Director | 2025-01-01 | Feb 1974 | British |
| ROSE, Andrew Matthew | Director | 2025-04-01 | Aug 1976 | British |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| STEPHEN, Nicol, Lord | Secretary | 2019-02-22 | 2019-03-05 |
| ADDLESHAW GODDARD (SCOTLAND) SECRETARIAL LIMITED | Corporate Secretary | 2019-03-05 | 2022-11-11 |
| DOBSON, Jonathan | Director | 2021-02-25 | 2025-03-31 |
| DONALDSON, Andrew Raymond | Director | 2019-02-22 | 2021-04-22 |
| GILBERT, Martin James | Director | 2021-02-25 | 2022-11-11 |
| INOUE, Shinsuke | Director | 2022-11-11 | 2025-06-30 |
| MACASKILL, Allan | Director | 2018-05-21 | 2022-11-11 |
| SAWYER, Timothy Christian | Director | 2020-08-04 | 2023-10-31 |
| STEPHEN, Nicol Ross, Lord | Director | 2018-05-21 | 2025-09-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tokyo Electric Power Company Holdings, Incorporated | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-11-11 | Active |
| Macaskill Associates Limited | Corporate entity | Shares 25–50% | 2020-05-30 | Ceased 2022-11-01 |
| Mr Allan Macaskill | Individual | Voting 25–50% | 2018-05-21 | Ceased 2022-11-01 |
| Nicol Stephen | Individual | Shares 25–50%, Voting 25–50% | 2018-05-21 | Ceased 2022-11-01 |
Filing timeline
Last 20 of 98 total filings
| Date | Type | Category | Description |
|---|---|---|---|
| 2026-03-10 | RESOLUTIONS | resolution | resolution |
| 2026-03-10 | SH01 | capital | capital allotment shares |
| 2025-11-24 | TM01 | officers | termination director company with name termination date |
| 2025-08-22 | AA | accounts | accounts with accounts type group |
| 2025-07-03 | AP01 | officers | appoint person director company with name date |
| 2025-07-03 | TM01 | officers | termination director company with name termination date |
| 2025-05-22 | CS01 | confirmation-statement | confirmation statement with updates |
| 2025-05-21 | CH01 | officers | change person director company with change date |
| 2025-05-21 | CH01 | officers | change person director company with change date |
| 2025-04-02 | AP01 | officers | appoint person director company with name date |
| 2025-04-01 | TM01 | officers | termination director company with name termination date |
| 2025-03-12 | SH01 | capital | capital allotment shares |
| 2025-03-04 | MA | incorporation | memorandum articles |
| 2025-03-04 | RESOLUTIONS | resolution | resolution |
| 2025-02-18 | MR01 | mortgage | mortgage create with deed with charge number charge creation date |
| 2025-01-06 | AP01 | officers | appoint person director company with name date |
| 2024-10-31 | PSC02 | persons-with-significant-control | notification of a person with significant control |
| 2024-10-30 | PSC09 | persons-with-significant-control | withdrawal of a person with significant control statement |
| 2024-10-29 | CH01 | officers | change person director company with change date |
| 2024-10-22 | CH01 | officers | change person director company with change date |
Credit score
Altman Z″ — composite of working capital, retained earnings, EBIT, and leverage
Activity Score
Composite activity score · components 0–100 · reference 2026-05-09
66.2
WARM
/ 100
- Filings velocity 75
- Capital events 40
- Officer churn 75
- Headcount trajectory 100
- Accounts trajectory 50
- 9 filing(s) in last 12 months
- 2 capital event(s) in last 24 months
- 1 appointed, 2 resigned (12mo)
- Employees +153% YoY