BORR ODIN (UK) LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-01-20 (in 8mo)
Last made up 2026-01-06
Watchouts
None on the register
Cash
£1K
Latest balance sheet
Net assets
£14M
+160.1% vs 2023
Employees
—
Average over period
Profit before tax
£4M
-17.6% vs 2023
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £17,973,314 | £18,263,899 | |
| Operating profit | £14,063,010 | £11,911,787 | |
| Profit before tax | £4,731,653 | £3,897,702 | |
| Net profit | £4,525,574 | £8,662,713 | |
| Cash | — | £1,483 | |
| Total assets less current liabilities | £6,937,732 | £71,491,475 | |
| Net assets | £5,409,933 | £14,072,646 | |
| Equity | £5,409,933 | £14,072,646 | |
| Average employees | — | — | |
| Wages | — | — |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 78.2% | 65.2% | |
| Net margin | 25.2% | 47.4% | |
| Return on capital employed | 202.7% | 16.7% | |
| Gearing (liabilities / total assets) | 93.5% | 85.1% | |
| Current ratio | 0.18x | 1.09x | |
| Interest cover | 1.51x | 1.49x |
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
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors, based on the current financial projections and the facilities available, in addition to taking into account reasonably possible changes in trading performance and making enquiries, believe that the Company has adequate financial resources to continue in operation for the foreseeable future. The directors have received confirmation that the ultimate parent company, Borr Drilling Limited, will provide further funding to the Company as required for a period of at least 12 months after these financial statements are signed. For this reason, they continue to adopt the going concern basis in preparing the financial statements.”
Significant events
- “On June 16, 2025, the Company received a notice of temporary suspension of operation for the rig "Odin" which was effective on June 1, 2025 for a period of 30 days. Following this, alternative deployment options have been explored, and we have secured a Letter of Intent from an independent oil company in Mexico for a 60-day accommodation and drilling program, expected to commence in 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BRODIES SECRETARIAL SERVICES LIMITED | Corporate Secretary | 2019-01-07 | — | — |
| DE ROSSI, Valerio, Dr | Director | 2020-02-17 | May 1967 | Italian |
| TINDALL, Christopher David | Director | 2025-06-20 | May 1993 | British |
| TOBING, Joseph Amudi Lumban | Director | 2023-03-20 | May 1973 | Indonesian |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BURNARD, Claire Maria Elizabeth | Director | 2020-02-17 | 2023-03-20 |
| GADDINI, Andrew Daniel | Director | 2019-01-07 | 2020-02-17 |
| LIE, Andreas Lavik | Director | 2021-04-30 | 2025-06-20 |
| SUTHERLAND, Darren | Director | 2019-01-07 | 2020-02-17 |
| VAALER, Magnus | Director | 2020-02-17 | 2021-04-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Borr Mexico Ventures Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-01-22 | Active |
| Borr Jack-Up Assets (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-02-22 | Ceased 2024-01-22 |
| Borr Mexico Ventures Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-12-23 | Ceased 2023-02-22 |
| Den Norske Nominees Limited | Corporate entity | Shares 75–100% | 2019-07-08 | Ceased 2019-12-23 |
| Borr (Uk) Holdings Limited | Corporate entity | Voting 75–100%, Appoints directors | 2019-01-07 | Ceased 2019-12-23 |
Filing timeline
Last 20 of 88 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-11-28 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-01-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-11-28 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-11-28 | SH20 | capital | Legacy | |
| 2025-11-28 | CAP-SS | insolvency | Legacy | |
| 2025-11-28 | RESOLUTIONS | resolution | Resolution | |
| 2025-10-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-09-08 | AA | accounts | Accounts with accounts type full | |
| 2025-06-25 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-25 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-11-14 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-09-24 | AA | accounts | Accounts with accounts type full | |
| 2024-08-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-08-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-08-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-03-20 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-01-30 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 2
- Officers appointed
- 1
- Officers resigned
- 1
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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+1.6%
£17,973,314 £18,263,899
-
Cash
—
Not reported
-
Net assets
+160.1%
£5,409,933 £14,072,646
-
Employees
—
Not reported
-
Operating profit
-15.3%
£14,063,010 £11,911,787
-
Profit before tax
-17.6%
£4,731,653 £3,897,702
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