UK Companies House feature
ORBITAL MARINE POWER (ORKNEY) PLC
Cash
£34K
-96.4% vs 2022
Net assets
£4M
-31.5% vs 2022
Employees
0
Average over period
Profit before tax
-£2M
-761.6% vs 2022
Profile
- Company number
- SC609187
- Status
- Active
- Incorporation
- 2018-09-26
- Last accounts made up
- 2024-12-31
- Account category
- FULL
- Primary SIC
- 35110
- Hubs
- UK Energy & Climate
Net assets
4-year trend · vs UK Energy & Climate median
Accounts
4-year trend · latest 2023-12-31
| Metric | Trend | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 |
|---|---|---|---|---|---|
| Turnover | — | — | — | — | |
| Operating profit | — | — | — | — | |
| Profit before tax | — | — | -£209,300 | -£1,803,239 | |
| Net profit | — | — | -£209,300 | -£1,803,239 | |
| Cash | — | — | £921,285 | £33,558 | |
| Total assets less current liabilities | — | — | £9,587,706 | £7,543,864 | |
| Net assets | — | — | £5,721,200 | £3,917,961 | |
| Equity | -£805,104 | -£1,069,500 | £5,721,200 | £3,917,961 | |
| Average employees | — | — | — | 0 | |
| 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
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Johnston Carmichael LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Significant events
- “The Orbital O2 construction project was delivered for the Company through an Engineering, Procurement and Construction (EPC) contract with its parent organisation Orbital Marine Power Limited (Orbital). The successful installation and commissioning of the world's most powerful and advanced tidal stream turbine in the fast-flowing waters of the Fall of Warness in Orkney in July 2021 signaled the end of the construction phase of this flagship O2 project.”
- “A number of O2 upgrades were completed through 2023 and 2024 with the turbine now having passed through its re-commissioning work-up program, including generation at the full 2MW setpoint...”
- “All debt repayment obligations were met through 2024 but due to delays experienced through the upgrade and re-commissioning program of the O2, the £4 million debt instrument invested in Orbital Projects Holdings Limited by Scottish National Investment Bank was increased in March 2024 by an additional £1 million and the term of the facility extended by two years (to 2036).”
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
4 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MILNE, Christopher David | Secretary | 2018-09-26 | — | — |
| GEORGE, Sian Lee, Dr | Director | 2019-05-30 | Sep 1972 | British |
| MILNE, Christopher David | Director | 2018-09-26 | May 1979 | British |
| SCOTT, Andrew Heggie | Director | 2018-09-26 | Jul 1977 | British |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Abundance Security Trustee Ltd | Corporate entity | Shares 75–100% | 2019-07-09 | Active |
| Orbital Marine Power Limited | Corporate entity | Voting 75–100%, Appoints directors | 2018-09-26 | Ceased 2022-08-10 |
Filing timeline
Last 20 of 41 total filings
| Date | Type | Category | Description |
|---|---|---|---|
| 2025-12-31 | AA | accounts | accounts with accounts type full |
| 2025-10-09 | CS01 | confirmation-statement | confirmation statement with no updates |
| 2025-09-03 | DISS40 | gazette | gazette filings brought up to date |
| 2025-09-02 | GAZ1 | gazette | gazette notice compulsory |
| 2024-10-01 | CS01 | confirmation-statement | confirmation statement with no updates |
| 2024-06-27 | AA | accounts | accounts with accounts type full |
| 2023-09-26 | CS01 | confirmation-statement | confirmation statement with no updates |
| 2023-06-30 | AA | accounts | accounts with accounts type full |
| 2022-10-07 | CS01 | confirmation-statement | confirmation statement with updates |
| 2022-08-19 | PSC05 | persons-with-significant-control | change to a person with significant control |
| 2022-08-18 | MR04 | mortgage | mortgage satisfy charge full |
| 2022-08-18 | MR04 | mortgage | mortgage satisfy charge full |
| 2022-08-10 | PSC07 | persons-with-significant-control | cessation of a person with significant control |
| 2022-07-18 | MR01 | mortgage | mortgage create with deed with charge number charge creation date |
| 2022-07-18 | MR01 | mortgage | mortgage create with deed with charge number charge creation date |
| 2022-07-18 | 466(Scot) | mortgage | mortgage alter floating charge with number |
| 2022-07-15 | MR01 | mortgage | mortgage create with deed with charge number charge creation date |
| 2022-07-12 | SH01 | capital | capital allotment shares |
| 2022-07-11 | AA | accounts | accounts with accounts type full |
| 2022-07-11 | 466(Scot) | mortgage | mortgage alter floating charge with number |
Credit score
Altman Z″ (private-firm) · reference 2023-12-31
-1.72
DISTRESS
Altman Z″
- Working capital / Total assets -0.207 × 6.56 = -1.36
- Retained earnings / Total assets 0.000 × 3.26 = +0.00
- EBIT / Total assets -0.140 × 6.72 = -0.94
- Book equity / Total liabilities 0.556 × 1.05 = +0.58
Bands: > 2.6 safe · 1.1–2.6 grey · < 1.1 distress. Z″ is a public-formula baseline, not a substitute for adverse-data signals (CCJs, charges, gazette notices) — those land in a later pass.
Activity Score
Composite activity score · components 0–100 · reference 2026-05-09
18.6
COLD
/ 100
- Filings velocity 33
- Capital events 0
- Officer churn 0
- Headcount trajectory 50
- Accounts trajectory 19
- 4 filing(s) in last 12 months
- Net Assets -32% YoY