SHELL EP OFFSHORE VENTURES LIMITED
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Cash
£12m
-28.3% lowest in 3 filed years
Net assets
£248m
+12% vs 2024
Employees
—
Average over period
Profit before tax
£28m
+118.6% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £27,200,000 | £43,800,000 | £56,800,000 | +29.7% | |
| Operating profit | £10,600,000 | -£200,000 | £3,900,000 | +2,050% | |
| Profit before tax | £21,800,000 | -£150,000,000 | £27,900,000 | +118.6% | |
| Net profit | £3,500,000 | -£116,400,000 | — | — | |
| Cash | £47,200,000 | £16,600,000 | £11,900,000 | -28.3% | |
| Total assets less current liabilities | £470,600,000 | £248,300,000 | £286,400,000 | +15.3% | |
| Net assets | £333,800,000 | £221,600,000 | £248,200,000 | +12% | |
| Equity | £333,800,000 | £221,600,000 | £248,200,000 | +12% | |
| Average employees | 0 | 0 | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £0 | £0 | — | — |
Values shown as filed in the company's annual accounts. — 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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 39.0% | -0.5% | 6.9% | |
| Net margin | 12.9% | — | — | |
| Return on capital employed | 2.3% | -0.1% | 1.4% | |
| Gearing (liabilities / total assets) | 45.2% | 45.3% | 17.5% | |
| Current ratio | 2.29x | 5.27x | 20.17x | |
| Interest cover | 1.83x | -0.04x | 0.81x |
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. 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 3 times since incorporation
- SHELL EP OFFSHORE VENTURES LIMITED 2005-12-12 → present
- ENTERPRISE OIL EXPLORATION LIMITED 1984-12-12 → 2005-12-12
- ENTERPRISE OIL (FULMAR) LIMITED 1983-09-01 → 1984-12-12
- BRITISH GAS (FULMAR) LIMITED 1982-11-26 → 1983-09-01
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the above, together with the Directors knowledge and experience of the market, the Directors consider it appropriate to prepare the financial statements for the year ended 31 December 2025 on a going concern basis.”
Significant events
- “On December 1, 2025, Shell and Equinor ASA completed a deal to combine their UK offshore oil and gas operations to form a new company, Adura Energy Limited.”
- “On 4 July 2025, the board approved the share capital reduction in aggregate amount of £532,200,000 thousands (532,200,000 shares) which is supported by a solvency statement.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 70 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SHELL CORPORATE SECRETARY LIMITED | Corporate Secretary | 2026-05-22 | — | — |
| BURDGE, Huw Edward James | Director | 2022-01-11 | Jun 1987 | British |
| COOGAN, Suzanne Maureen | Director | 2025-08-01 | Nov 1982 | Irish |
| MCALLISTER, Edward | Director | 2026-07-13 | Feb 1967 | British |
| SHELL CORPORATE DIRECTOR LIMITED | Corporate Director | 2018-07-19 | — | — |
Show 70 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GIBNEY, Vivien Murray | Secretary | 1998-03-30 | 1999-02-01 |
| INGRAM, Peter William Irving | Secretary | 1997-06-23 | 1998-03-30 |
| LEE, Jonathan Joshua | Secretary | 1992-07-10 | 1997-06-23 |
| TAYLOR, Richard George | Secretary | — | 1992-07-10 |
| WHITE, Mark Jonathan | Secretary | 1999-02-01 | 2002-06-30 |
| PECTEN SECRETARIES LIMITED | Corporate Secretary | 2022-11-01 | 2026-05-29 |
| SHELL CORPORATE SECRETARY LIMITED | Corporate Secretary | 2002-07-01 | 2022-11-01 |
| AL-JANABI, Ali | Director | 2024-09-05 | 2025-08-01 |
| ANDERSON, Mary Grace | Director | 2003-10-01 | 2007-05-18 |
| ARCHIBALD, Gary James | Director | 2012-06-15 | 2021-12-24 |
| ARMOUR, Andrew Richard, Doctor | Director | 1994-11-07 | 2002-02-01 |
| BOWEN, John Myles | Director | — | 1991-09-11 |
| BRASS, Lorin Lee | Director | 2002-05-08 | 2002-11-20 |
| BROCKLEBANK, Andrew Edward | Director | 2020-04-01 | 2025-12-01 |
| BURMEISTER, German | Director | 2021-08-10 | 2024-08-22 |
| CHAUHAN, Aman Shaktiman | Director | 2023-01-09 | 2025-02-06 |
| CONSTANT-GLEMAS, Simon Alan | Director | 2010-02-01 | 2012-06-22 |
| CRAIG, Ian | Director | 2001-11-01 | 2002-05-08 |
| DAFTER, Raymond Maurice | Director | 1991-11-11 | 1999-06-21 |
| DAVIES, Paul Graham Hamblin | Director | 2002-11-12 | 2005-12-08 |
| DIBUA, Egbeazien Philippa Cornelia | Director | 2024-06-01 | 2025-12-01 |
| EIDE, Marianne Wold | Director | 2016-10-18 | 2021-05-31 |
| FERSTL, Martin Ernst | Director | 2005-12-09 | 2007-12-31 |
| GARDY, Dominique | Director | 2002-05-08 | 2002-07-01 |
| GASKELL, Ralph Neil | Director | 2002-05-08 | 2003-11-03 |
| GORDON, Jonathan Stuart | Director | 2009-04-01 | 2013-12-31 |
| HADFIELD, John Paul Simeon | Director | 2016-10-18 | 2017-01-09 |
| HAND, Austin Francis | Director | 2008-08-06 | 2015-02-28 |
| HARRIS, Edward John | Director | 1991-11-11 | 1994-11-07 |
| HARRISON, Nicholas Charles | Director | 2006-06-07 | 2009-03-27 |
| HART, William Allan | Director | 2003-10-01 | 2006-09-30 |
| HEARNE, Graham James, Sir | Director | — | 1994-11-07 |
| HOPE, Peter Mark | Director | 1994-11-07 | 1999-05-20 |
| JAIN, Saurabh | Director | 2021-10-01 | 2024-06-01 |
| JANSSENS, Guy Peter Jacobus Agnes | Director | 2006-06-07 | 2008-11-30 |
| JONES, Howard Edwin Lotgering | Director | 2018-05-28 | 2021-09-30 |
| JUNGELS, Pierre Jean Marie Henri, Dr | Director | 1997-01-01 | 2001-10-31 |
| KAPPELLE, Derk | Director | 2003-10-01 | 2006-05-19 |
| KEIR, Campbell Anderson | Director | 2008-04-04 | 2014-12-31 |
| KEMSHELL, David Michael | Director | 2015-03-01 | 2016-09-30 |
| KINGSTON, Peter Eric | Director | — | 1992-07-06 |
| KLAP, Frits Michiel Alexander | Director | 2016-10-18 | 2017-12-31 |
| LAIDLAW, William Samuel Hugh | Director | 2001-11-01 | 2002-05-08 |
| LAZARE, Olivier Marie Charles, Mr. | Director | 2017-09-01 | 2021-06-01 |
| LONGDEN, Andrew William | Director | 2003-11-03 | 2005-03-15 |
| MARTIN, David John | Director | 2006-10-02 | 2008-07-31 |
| MAXWELL, Robert James | Director | 2020-04-01 | 2023-01-10 |
| MURPHY, Aidan John | Director | 2021-06-01 | 2021-08-10 |
| OUELLETTE, Shannon Lorraine | Director | 2018-02-12 | 2020-03-31 |
| PATERSON, Iain Stayton | Director | — | 1998-09-01 |
| PATEY, Roger Howard | Director | 2003-02-05 | 2003-12-01 |
| PINK, Michael John | Director | 1994-11-07 | 1996-12-31 |
| ROBBE, Engelhardt Marinus | Director | 2003-02-05 | 2003-10-01 |
| SHILSTON, Andrew Barkley | Director | 1993-12-08 | 2002-05-08 |
| SMART, Erica Jane | Director | 2021-07-05 | 2024-06-01 |
| SPROUSE, Rolynda Ann | Director | 2014-01-30 | 2016-10-31 |
| STRENG, Chris | Director | 2002-07-15 | 2002-10-31 |
| TALBOT, Graham Stuart | Director | 2008-12-05 | 2010-02-01 |
| VAN BERGEN, Duncan Herman | Director | 2014-08-20 | 2017-08-31 |
| VAN BUNNIK, Johannes Simon Maria | Director | 2017-03-01 | 2018-04-16 |
| VAN DER MEIDEN, Leendert Huibert | Director | 2010-01-01 | 2013-01-31 |
| VAN POLLEN, Albartus Hendrik | Director | 2007-12-17 | 2009-12-31 |
| VASEY, Bethan Sara | Director | 2025-02-06 | 2025-12-01 |
| VIOTTI, Carlo, Dr | Director | 1994-11-07 | 1998-01-08 |
| WALMSLEY, John Arthur | Director | — | 1993-12-08 |
| WATT, John Ferguson | Director | — | 1994-11-07 |
| WATTS, Kevin Paul | Director | 1998-02-12 | 2002-05-08 |
| WEST, Julian Daniel | Director | 1991-11-11 | 1996-03-25 |
| WIGGETT, Alan | Director | — | 1991-11-11 |
| WISEMAN, Richard Max | Director | 2002-05-08 | 2005-10-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Enterprise Oil Limited | Corporate entity | Shares 75–100% (as firm), Voting 75–100% (as firm), Appoints directors (as firm) | 2016-04-06 | Active |
Filing timeline
Last 20 of 300 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-07-07 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-28 | AA | accounts | Accounts with accounts type full | |
| 2026-08-03 | AP01 | officers | Appoint person director company with name date | |
| 2026-06-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-06-05 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2026-06-03 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-03-05 | SH01 | capital | Capital allotment shares | |
| 2026-02-17 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-12 | SH01 | capital | Capital allotment shares | |
| 2025-12-31 | CH01 | officers | Change person director company with change date | |
| 2025-12-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-10 | AA | accounts | Accounts with accounts type full | |
| 2025-08-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-14 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-07 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-07-07 | RESOLUTIONS | resolution | Resolution | |
| 2025-07-07 | CAP-SS | insolvency | Legacy | |
| 2025-07-07 | SH20 | capital | Legacy | |
| 2025-06-23 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-02-24 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 4
- Officers appointed
- 2
- Officers resigned
- 4
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.