WELL-SAFE DEFENDER LIMITED

1. WELL-SAFE DEFENDER LIMITED 2022-05-04 → present
2. SLLP 356 LIMITED 2022-03-07 → 2022-05-04

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 101

Reporting scope

Standalone (parent only)

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.”

Significant events

• “In June 2025, following reduced contract activities, the Well-Safe Defender rig was warmed stacked and offshore employee headcount reduced accordingly.”
• “The Well-Safe Defender signed a contract with EnQuest for a multi-year contract commencing in 2026 and extending into 2027. The contract is expected to generate revenues in excess of $45million. The contract also includes options for further activity between 2028 and 2034, creating a multi-year strategic partnership.”

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

Filings

8

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

  +9%

  £38,436,000 → £41,878,000

• Cash

  -79.1%

  £344,000 → £72,000

• Net assets

  -25%

  £11,231,000 → £8,424,000

• Employees

  —

  Not reported

• Operating profit

  -111.6%

  £19,573,000 → -£2,271,000

• Profit before tax

  -121.8%

  £16,582,000 → -£3,613,000

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