ITHACA UKCS LIMITED
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Cash
£0
USD 0
-100% vs 2024
Net assets
£187k
USD 252,000
+182.2% vs 2024
Employees
0
Average over period
Profit before tax
-£305k
USD -411,000
-20.9% vs 2024
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £42,980 | £742 | -98.3% | |
| Operating profit | -£312,798 | -£120,223 | +61.6% | |
| Profit before tax | -£252,308 | -£305,009 | -20.9% | |
| Net profit | -£289,717 | £399,258 | +237.8% | |
| Cash | £8,755 | £0 | -100% | |
| Total assets less current liabilities | £4,360,872 | £2,906,865 | -33.3% | |
| Net assets | -£227,635 | £187,013 | +182.2% | |
| Equity | -£227,635 | £187,013 | +182.2% | |
| Average employees | 0 | 0 | — | |
| Wages | — | — | — | |
| Directors' remuneration | — | — | — |
Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Return on capital employed | -7.2% | -4.1% | |
| Gearing (liabilities / total assets) | 104.6% | 94.7% | |
| Current ratio | 1.91x | 2.05x | |
| Interest cover | -2.49x | -0.65x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 5 times since incorporation — the current trading name was adopted 2024-12-18
- ITHACA UKCS LIMITED 2024-12-18 → present
- ENI UKCS LIMITED 2003-04-10 → 2024-12-18
- AGIP (UKCS) LIMITED 2000-12-14 → 2003-04-10
- BRITISH-BORNEO UK LIMITED 1998-10-23 → 2000-12-14
- BRITISH-BORNEO OIL & GAS LIMITED 1991-12-10 → 1998-10-23
- NORSK HYDRO OIL & GAS LIMITED 1971-08-04 → 1991-12-10
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on their assessment of the Group’s financial position... the Company’s Directors believe that the Group will be able to continue in operational existence... Accordingly, they continue to adopt the going concern basis of accounting”
Significant events
- “The Company's result for the financial year, primarily driven by an increase to the tax credit, was a profit of $0.5 million (2024: $0.4 million loss)... There was no production during 2025 as the only well in the field was offline for essential planned maintenance.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 55 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| FRIEDMAN, Yaniv | Director | 2024-10-03 | Apr 1974 | Israeli |
| LEWIS, Iain Clifford Scobbie | Director | 2024-10-03 | Dec 1977 | British |
| MCATEER, Julie Elizabeth | Director | 2024-10-03 | Mar 1969 | British |
| VASQUES, Luciano Maria | Director | 2022-10-13 | Apr 1963 | Italian |
Show 55 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| D'ABREO, Riordan | Secretary | 2020-07-01 | 2024-10-03 |
| DAL BELLO, Francesca | Secretary | 2007-07-06 | 2017-11-09 |
| FAGAN, Daragh Patrick Feltrim | Secretary | 2000-06-30 | 2007-07-06 |
| HUDDLE, Stephen Charles | Secretary | 1999-11-16 | 2000-06-30 |
| KJELLBERG, Christian Heiret | Secretary | — | 1991-12-09 |
| PETER, Patricia Anne | Secretary | 1994-05-11 | 1999-11-16 |
| TREZZA, Mila | Secretary | 2017-11-09 | 2020-07-01 |
| FRASER & RUSSELL | Corporate Secretary | 1991-12-09 | 1994-05-11 |
| AGGOGERI, Nicolo' | Director | 2021-05-28 | 2022-10-13 |
| AMBROSE, Michael John | Director | 1999-04-07 | 1999-06-17 |
| BECKETT, Michael Ernest | Director | 1991-12-09 | 1999-05-11 |
| BILLER, Odd Ivar | Director | — | 1991-12-09 |
| BREIVIK, Svein | Director | — | 1991-12-09 |
| BROOKS, Samuel David | Director | 1991-12-09 | 1998-05-28 |
| CASTIGLIONI, Fabio | Director | 2009-06-15 | 2010-07-14 |
| CHACON, Oswaldo | Director | 2012-04-10 | 2014-09-24 |
| CHIARINI, Alberto | Director | 2004-09-01 | 2006-04-03 |
| COLVIN, William | Director | 1992-03-31 | 1999-11-05 |
| DE MARCO, Claudio | Director | 2017-01-05 | 2017-06-12 |
| DI LORENZO, Vincenzo | Director | 2006-04-03 | 2007-11-09 |
| DI LORENZO, Vincenzo | Director | 2000-05-11 | 2001-05-10 |
| ENGER, Thorleif | Director | — | 1991-12-09 |
| FERRARA, Gianluigi | Director | 2017-06-13 | 2022-03-24 |
| FERRARA, Gianluigi | Director | 2000-05-11 | 2003-08-21 |
| GAYNOR, Alan Jonathan | Director | 1991-12-09 | 2000-05-11 |
| GIULIANELLI, Matilde | Director | 2003-08-21 | 2006-05-16 |
| GIUSTO, Manfredi | Director | 2019-11-18 | 2020-08-06 |
| HANCOCK, Timothy John Pennington | Director | 1995-05-10 | 1999-01-31 |
| HEMMENS, Philip Duncan | Director | 2011-09-19 | 2016-05-17 |
| HILL, Peter Julian, Dr | Director | 1999-09-22 | 2000-05-11 |
| HOLLIDAY, Steven John | Director | 1999-09-22 | 2000-05-11 |
| HUDDLE, Stephen Charles | Director | 1999-09-22 | 2000-05-11 |
| KEENAN, Nicholas Mark | Director | 2010-01-22 | 2010-11-15 |
| LANDER, John Hugh Russell | Director | 1996-01-19 | 1997-10-29 |
| LORATO, Roberto | Director | 2001-05-10 | 2002-08-08 |
| LUSURIELLO, Luigino | Director | 2007-11-09 | 2009-06-15 |
| MCATEER, Julie | Director | 2024-10-03 | 2024-10-03 |
| MICHELL, Michael John | Director | 2000-05-11 | 2010-01-22 |
| MIDMER, Richard Neil | Director | 2000-02-14 | 2000-05-11 |
| MONGINI, Adriano | Director | 2021-04-08 | 2021-05-28 |
| MORPETH, Douglas, Sir | Director | 1991-12-09 | 1995-05-10 |
| PAGANO, Ciro Antonio | Director | 2020-08-06 | 2021-04-08 |
| PAGANO, Francesco | Director | 2022-03-24 | 2024-10-03 |
| PASQUA, Roberto | Director | 2014-09-24 | 2017-06-13 |
| PIRO, Luigi | Director | 2016-05-17 | 2017-01-05 |
| POLO, Franco, Dr | Director | 2010-07-14 | 2011-09-19 |
| REID, Robert Paul, Sir | Director | 1994-12-07 | 1999-05-11 |
| RENDLE, Michael Russel | Director | 1991-12-09 | 1999-05-11 |
| RINALDI, Francesca | Director | 2017-06-12 | 2019-11-18 |
| SPEIRS, John Garrett | Director | — | 1991-12-09 |
| TALAMONTI, Marco | Director | 2006-05-16 | 2012-04-10 |
| TANNIELLO, Antonio | Director | 2000-05-11 | 2001-05-10 |
| THOMAS, David Howard | Director | 2002-08-08 | 2004-09-01 |
| TREZZA, Mila | Director | 2010-11-15 | 2020-10-30 |
| WATERLOW, Richard Philip | Director | 2020-12-08 | 2024-10-03 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ithaca Ef Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-08-29 | Active |
| Eni Uk Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2024-08-29 |
Filing timeline
Last 20 of 265 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-24 MA Memorandum articles
- 2024-12-24 RESOLUTIONS Resolution
- 2024-12-18 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-14 | AA | accounts | Accounts with accounts type full | |
| 2026-08-20 | CH01 | officers | Change person director company with change date | |
| 2026-06-17 | CH01 | officers | Change person director company with change date | |
| 2026-02-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-27 | AA | accounts | Accounts with accounts type full | |
| 2025-08-01 | CH01 | officers | Change person director company with change date | |
| 2025-02-28 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-02-28 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-01-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-01-24 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-12-24 | MA | incorporation | Memorandum articles | |
| 2024-12-24 | RESOLUTIONS | resolution | Resolution | |
| 2024-12-18 | CERTNM | change-of-name | Certificate change of name company | |
| 2024-12-16 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-25 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-10-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-17 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- 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.