ITHACA EF LIMITED
Formerly known as Eni Elgin/Franklin Limited, the business operates as an oil and gas extraction subsidiary of the London Stock Exchange-listed North Sea producer Ithaca Energy Plc.
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Cash
—
Latest balance sheet
Net assets
—
Equity attributable
Employees
—
Average over period
Profit before tax
—
Period ending 2025-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
2 PSCs ceased in last 24 months
Significant control changed hands — see the Ownership section.
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 | £452,608,252 | £436,766,157 | £287,355,844 | -34.2% | |
| Operating profit | £358,513,492 | £203,170,965 | — | — | |
| Profit before tax | £367,005,020 | £192,980,739 | — | — | |
| Net profit | £125,142,767 | £94,845,591 | — | — | |
| Cash | £127,971,447 | £14,919,612 | — | — | |
| Total assets less current liabilities | £690,259,649 | £606,891,913 | — | — | |
| Net assets | £146,215,093 | £70,959,885 | — | — | |
| Equity | £146,215,093 | £70,959,885 | — | — | |
| 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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 79.2% | 46.5% | — | |
| Net margin | 27.6% | 21.7% | — | |
| Return on capital employed | 51.9% | 33.5% | — | |
| Gearing (liabilities / total assets) | 83.8% | 90.8% | — | |
| Current ratio | 5.99x | 0.96x | — | |
| Interest cover | 75.01x | 14.18x | — |
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.
Name history
Renamed 4 times since incorporation — the current trading name was adopted 2024-12-18
- ITHACA EF LIMITED 2024-12-18 → present
- ENI ELGIN/FRANKLIN LIMITED 2003-04-10 → 2024-12-18
- AGIP ELGIN/FRANKLIN LIMITED 2000-12-14 → 2003-04-10
- BRITISH-BORNEO ELGIN/FRANKLIN LIMITED 1999-08-05 → 2000-12-14
- PRECIS (1756) LIMITED 1999-05-18 → 1999-08-05
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors consider the preparation of the financial statements on a going concern basis to be appropriate.”
Group structure
- ITHACA EF LIMITED · parent
- Ithaca UKCS Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 45 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 |
| VASQUES, Luciano Maria | Director | 2022-10-13 | Apr 1963 | Italian |
Show 45 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 | 1999-07-28 | 2000-06-30 |
| TREZZA, Mila | Secretary | 2017-11-09 | 2020-07-01 |
| OFFICE ORGANIZATION & SERVICES LIMITED | Corporate Secretary | 1999-06-11 | 1999-07-28 |
| SWIFT INCORPORATIONS LIMITED | Corporate Nominee Secretary | 1999-05-18 | 1999-06-11 |
| AGGOGERI, Nicolo' | Director | 2021-05-28 | 2022-10-13 |
| BELOTTI, Angelo | Director | 2000-05-11 | 2001-05-10 |
| 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 | 1999-07-28 | 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 |
| FERRARA, Gianluigi | Director | 2017-06-13 | 2022-03-24 |
| FERRARA, Gianluigi | Director | 2000-05-11 | 2003-08-21 |
| GAYNOR, Alan Jonathan | Director | 1999-07-28 | 2000-05-11 |
| GIULIANELLI, Matilde | Director | 2003-08-21 | 2006-05-16 |
| GIUSTO, Manfredi | Director | 2019-11-18 | 2020-08-06 |
| HEMMENS, Philip Duncan | Director | 2011-09-19 | 2016-05-17 |
| HILL, Peter Julian, Dr | Director | 1999-07-28 | 2000-05-11 |
| HOLLIDAY, Steven John | Director | 1999-07-28 | 2000-05-11 |
| IANNIELLO, Antonio, Doctor | Director | 2000-05-11 | 2001-05-10 |
| KEENAN, Nicholas Mark | Director | 2010-01-22 | 2010-11-15 |
| LORATO, Roberto | Director | 2001-05-10 | 2002-08-08 |
| LUSURIELLO, Luigino | Director | 2007-11-09 | 2009-06-15 |
| MCATEER, Julie Elizabeth | Director | 2024-10-03 | 2024-10-03 |
| MICHELL, Michael John | Director | 2001-05-10 | 2010-01-22 |
| MIDMER, Richard Neil | Director | 2000-02-14 | 2000-05-11 |
| MONGINI, Adriano | Director | 2021-04-08 | 2021-05-28 |
| 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 |
| PENFOLD, Diane June | Director | 1999-05-18 | 1999-07-28 |
| PIRO, Luigi | Director | 2016-05-17 | 2017-01-05 |
| POLO, Franco, Dr | Director | 2010-07-14 | 2011-09-19 |
| RINALDI, Francesca | Director | 2017-06-12 | 2019-11-18 |
| SGANZERLA, Ennio | Director | 2000-05-11 | 2001-05-10 |
| TALAMONTI, Marco | Director | 2006-05-16 | 2012-04-10 |
| 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 |
| WILSON, Clare Alice | Director | 1999-05-18 | 1999-07-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ithaca Energy (Uk) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2025-06-20 | Active |
| Ithaca Energy Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-10-03 | Ceased 2025-06-20 |
| Eni Uk Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2024-10-03 |
Filing timeline
Last 20 of 211 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-24 RESOLUTIONS Resolution
- 2024-12-24 MA Memorandum articles
- 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 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2026-02-12 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2026-02-12 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-27 | AA | accounts | Accounts with accounts type full | |
| 2025-08-01 | CH01 | officers | Change person director company with change date | |
| 2025-02-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-01-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-24 | RESOLUTIONS | resolution | Resolution | |
| 2024-12-24 | MA | incorporation | Memorandum articles | |
| 2024-12-18 | CERTNM | change-of-name | Certificate change of name company | |
| 2024-10-25 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-10-21 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-10-20 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-10-18 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-18 | CH01 | officers | Change person director company with change date | |
| 2024-10-18 | PSC05 | persons-with-significant-control | Change to a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- 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.