NEO NEXT+ ENERGY (UKCS) LIMITED

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -99.6%

  £157,098,004 → £606,264

• Cash

  +5,840.2%

  £79,988 → £4,751,439

• Net assets

  -19.3%

  -£59,192,644 → -£70,594,304

• Employees

  —

  Not reported

• Operating profit

  +86.5%

  -£67,499,439 → -£9,101,443

• Profit before tax

  +70.3%

  -£96,965,687 → -£28,801,675

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

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.

1. NEO NEXT+ ENERGY (UKCS) LIMITED 2026-03-30 → present
2. NEO ENERGY (UKCS) LIMITED 2019-11-19 → 2026-03-30
3. VERUS PETROLEUM (UKCS) LIMITED 2018-11-19 → 2019-11-19
4. VERUS PETROLEUM (UKCS) LIMITED LIMITED 2018-11-19 → 2018-11-19
5. CIECO EXPLORATION AND PRODUCTION (UK) LIMITED 1997-09-17 → 2018-11-19
6. CIECO UK LIMITED 1992-07-01 → 1997-09-17
7. GLADESTREAM LIMITED 1991-12-10 → 1992-07-01

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company is part of the NEO Energy Group Limited (the "Group") and has net current assets of $124.8 million as at 31 December 2024 (2023: $128.0 million), which includes net intercompany balances of $146.9 million (2023: $174.0 million) due from NEO Energy Group companies. As such it is reliant on continued financial support. The Directors have received a letter of support confirming that NEO Energy Consolidated Holdings Limited, the Company's indirect parent, will provide or procure sufficient funds as necessary to allow the Company to continue its operations for at least 12 months after these financial statements are signed.”

Significant events

• “During 2024, the Group enacted a series of inter-affiliate asset transfers to optimise the structure of the Group. On 1 March 2024, Golden Eagle and Western Isles assets were transferred within the Group from NEO Energy (UKCS) Limited to NEO Energy (ZEX) Limited.”
• “In the prior period, the Company surrendered $1.7m of group relief to inter-affiliate companies at no cost, which was later retrospectively charged for in 2024, resulting in other income of $0.4m.”
• “The Finch ruling consultation closed in January 2025, and revised guidance was issued in June 2025, allowing regulatory approvals for oil and gas projects to resume.”
• “During March 2025, the government launched consultations on the long-term tax regime and UKCS oil and gas licensing regime.”
• “On 3 March 2025, the Energy Profit Levy (EPL) extensions were substantially enacted.”
• “On 27 March 2025, NEO announced its combination with Repsol S.A.'s UK North Sea upstream business in a share for share transaction, expected to complete in Q3 2025.”

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

Filings

14

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

4

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.