ITHACA MA LIMITED
Formerly known as Marubeni Oil & Gas, Ithaca MA Limited operates as an oil and gas extraction subsidiary within the Ithaca Energy group.
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Cash
—
Latest balance sheet
Net assets
£26m
USD 35,674,000
-63.5% lowest in 3 filed years
Employees
0
Average over period
Profit before tax
£31m
USD 41,157,000
+269.9% highest in 3 filed years
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 | £380,676,969 | £345,546,800 | £267,258,627 | -22.7% | |
| Operating profit | £44,216,348 | £9,841,611 | £51,493,878 | +423.2% | |
| Profit before tax | £24,018,670 | -£17,975,963 | £30,543,228 | +269.9% | |
| Net profit | -£41,496,705 | £5,935,212 | -£38,298,330 | -745.3% | |
| Cash | — | — | — | — | |
| Total assets less current liabilities | £820,636,963 | £447,895,575 | £386,103,154 | -13.8% | |
| Net assets | £448,746,470 | £72,500,796 | £26,474,212 | -63.5% | |
| Equity | £448,746,470 | £72,500,796 | £26,474,212 | -63.5% | |
| Average employees | 0 | 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 | 11.6% | 2.8% | 19.3% | |
| Net margin | -10.9% | 1.7% | -14.3% | |
| Return on capital employed | 5.4% | 2.2% | 13.3% | |
| Gearing (liabilities / total assets) | 72.5% | 90.8% | 96.0% | |
| Current ratio | 1.08x | 0.34x | 0.27x | |
| Interest cover | 2.19x | 0.35x | 2.45x |
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 2 times since incorporation
- ITHACA MA LIMITED 2022-03-15 → present
- ITHACA OIL & GAS (U.K.) LIMITED 2022-02-07 → 2022-03-15
- MARUBENI OIL & GAS (U.K.) LIMITED 2000-03-09 → 2022-02-07
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 to the period 30 September 2027, the Company's Directors believe that the Group will be able to continue in operational existence and provide any necessary financial support to the Company for the 12 months from the date of signing.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 29 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 2022-02-04 | — | — |
| FRIEDMAN, Yaniv | Director | 2024-07-01 | Apr 1974 | Israeli |
| LEWIS, Iain Clifford Scobbie | Director | 2022-09-01 | Dec 1977 | British |
| MCATEER, Julie Elizabeth | Director | 2024-05-27 | Mar 1969 | British |
| VASQUES, Luciano Maria | Director | 2024-10-03 | Apr 1963 | Italian |
Show 29 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ANZAI, Osamu | Secretary | 2000-03-09 | 2002-10-01 |
| INOUE, Masataka | Secretary | 2005-01-26 | 2006-07-03 |
| ISE, Toshiaki | Secretary | 2002-10-01 | 2005-01-26 |
| MORITA, Takeo | Secretary | 2016-04-01 | 2022-02-04 |
| NISHIMURA, Tomoharu | Secretary | 2006-07-03 | 2007-04-24 |
| THOMAS, Howard | Nominee Secretary | 2000-03-09 | 2000-03-09 |
| TOYOTA, Hiromasa | Secretary | 2011-04-15 | 2016-04-01 |
| UCHIDA, Koichi | Secretary | 2007-04-24 | 2011-04-15 |
| ANZAI, Osamu | Director | 2000-03-09 | 2002-10-01 |
| BRUCE, Alan Alexander | Director | 2022-02-04 | 2024-01-04 |
| CRAWFORD, David Andrew | Director | 2022-02-04 | 2022-09-01 |
| FOSTER, William Arthur | Director | 2000-03-09 | 2008-03-31 |
| FURUYAMA, Shinya | Director | 2021-04-01 | 2022-02-04 |
| INOUE, Masataka | Director | 2005-01-14 | 2007-04-24 |
| KOKUBU, Fumiya | Director | 2002-04-01 | 2003-04-15 |
| KONISHI, Koniharu | Director | 2003-03-20 | 2004-04-01 |
| KONISHI, Kuniharu | Director | 2000-03-14 | 2002-04-01 |
| MORITA, Takeo | Director | 2016-04-01 | 2022-02-04 |
| MYERSON, Gilad | Director | 2022-02-04 | 2024-05-27 |
| NIENOW, Gary | Director | 2008-03-31 | 2022-02-04 |
| SATO, Shoetsu, Mr. | Director | 2010-04-01 | 2016-04-01 |
| SATO, Shoetsu | Director | 2004-04-01 | 2007-07-03 |
| SHIKAMURA, Toshifumi | Director | 2007-07-03 | 2010-04-01 |
| SHIKAMURA, Toshifumi | Director | 2002-10-01 | 2002-12-31 |
| SUZUKI, Isao | Director | 2016-04-01 | 2021-04-01 |
| TANAKA, Kazuaki | Director | 2003-03-20 | 2008-03-31 |
| TOYOTA, Hiromasa | Director | 2011-04-15 | 2016-04-01 |
| TOYOTA, Hiromasa | Director | 2007-07-03 | 2008-03-31 |
| UCHIDA, Koichi | Director | 2008-03-31 | 2011-04-15 |
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 | 2022-02-04 | Active |
| Marubeni North Sea Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors (as firm), Significant influence (as firm) | 2016-04-06 | Ceased 2022-02-04 |
Filing timeline
Last 20 of 204 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-09-09 MA Memorandum articles
- 2024-09-09 RESOLUTIONS Resolution
- 2024-09-05 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 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 | |
| 2026-01-19 | RP01SH01 | miscellaneous | Legacy | |
| 2025-12-27 | AA | accounts | Accounts with accounts type full | |
| 2025-09-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-01 | CH01 | officers | Change person director company with change date | |
| 2024-11-19 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2024-11-01 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-10-25 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2024-10-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-10-21 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-20 | CH01 | officers | Change person director company with change date | |
| 2024-09-09 | MA | incorporation | Memorandum articles | |
| 2024-09-09 | RESOLUTIONS | resolution | Resolution | |
| 2024-09-05 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2024-09-05 | SH20 | capital | Legacy | |
| 2024-09-05 | CAP-SS | insolvency | Legacy | |
| 2024-09-05 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- 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.