OFFSHORE RENEWABLE ENERGY CATAPULT
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Cash
£22m
-6.4% vs 2025
Net assets
£24m
+12.1% highest in 3 filed years
Employees
306
-4.1% lowest in 3 filed years
Profit before tax
£3.1m
+14.8% highest in 3 filed years
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|
| Total income | £40,417,000 | £40,389,000 | £38,063,000 | -5.8% | |
| Operating profit | £1,919,000 | £1,943,000 | £2,371,000 | +22% | |
| Profit before tax | £2,407,000 | £2,690,000 | £3,088,000 | +14.8% | |
| Net profit | £1,684,000 | £1,962,000 | £2,581,000 | +31.5% | |
| Cash | £17,043,000 | £23,121,000 | £21,630,000 | -6.4% | |
| Total assets less current liabilities | £97,235,000 | £113,188,000 | £188,448,000 | +66.5% | |
| Net assets | £19,352,000 | £21,263,000 | £23,844,000 | +12.1% | |
| Equity | £19,352,000 | £21,263,000 | £23,844,000 | +12.1% | |
| Average employees | 325 | 319 | 306 | -4.1% | |
| Wages | £17,305,000 | £17,160,000 | £16,394,000 | -4.5% | |
| Directors' remuneration | £644,000 | £729,000 | £650,000 | -10.8% | |
| Directors' pension contributions | £16,000 | £17,000 | £17,000 | 0% | |
| Highest paid director | £302,000 | £242,000 | £285,000 | +17.8% |
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 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|
| Operating margin | 4.7% | 4.8% | 6.2% | |
| Net margin | 4.2% | 4.9% | 6.8% | |
| Return on capital employed | 2.0% | 1.7% | 1.3% | |
| Gearing (liabilities / total assets) | 83.0% | 83.3% | 88.3% | |
| Current ratio | 2.45x | 3.58x | 7.04x | |
| Interest cover | — | 5.92x | 7.90x |
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
- OFFSHORE RENEWABLE ENERGY CATAPULT 2014-04-09 → present
- NATIONAL RENEWABLE ENERGY CENTRE LIMITED 2010-04-26 → 2014-04-09
- NEW AND RENEWABLE ENERGY CENTRE LIMITED 2003-02-07 → 2010-04-26
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- AAB Audit & Accountancy Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors, having considered the continued landscape of geopolitical instability (e.g. Iran), are reassured that while there are short to medium term 'headwinds', in the longer term, the offshore renewable energy markets remain buoyant. The directors consider that the Company will continue to meet its financial obligations as they fall for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”
Group structure
- OFFSHORE RENEWABLE ENERGY CATAPULT · parent
- ORE Catapult Development Services Limited 100%
- Shandong TUS Offshore Renewable Energy Centre (TORC) Limited 30%
Significant events
- “In May 2025, ORE Catapult completed the first Launch Academy Scotland cohort.”
- “The Orsted Innovation Challenge, focusing on digital Operations and Maintenance Programmes was launched in FY 25/26.”
- “In 24/25 ORE Catapult secured £85.6m of capital grant funding over the next 4 years from UKRI. The funds are being used to upgrade our testing facilities at Blyth, enabling the evolution of the next generation of wind turbines in the UK.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 45 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| WALLS, Andrew Peter Lindsay | Secretary | 2021-08-27 | — | — |
| BONNAR, Ronnie | Director | 2019-01-01 | Sep 1963 | British |
| FOXLEY, Steven Robert | Director | 2024-12-31 | Jul 1976 | British |
| GARDINER, James | Director | 2020-12-10 | Apr 1965 | British |
| ROOIJEN, Huub Den | Director | 2018-07-01 | Dec 1959 | Dutch |
| SMITH, Alexandra Fiona | Director | 2020-01-09 | Mar 1975 | British |
| STEWART, Jane Claire | Director | 2022-03-01 | Sep 1972 | British |
| SYKES, Benjamin John | Director | 2021-06-01 | Apr 1965 | British |
| WALLS, Andrew Peter Lindsay | Director | 2021-06-24 | Jul 1968 | British |
| ZAHIROVIC, Maida | Director | 2024-08-01 | Feb 1986 | Danish |
Show 45 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BEATTIE, Steven James | Secretary | 2019-11-01 | 2021-08-27 |
| CHIPCHASE, Jill | Secretary | 2003-05-30 | 2006-06-16 |
| CURRIE, David Bernard | Secretary | 2015-02-09 | 2015-03-20 |
| CURRIE, David Bernard | Secretary | 2014-04-16 | 2015-02-02 |
| GAULT, Shareen Bibi | Secretary | 2017-08-01 | 2019-02-11 |
| LINFOOT, Richard John | Secretary | 2003-03-03 | 2003-05-30 |
| MARR, Richard Donald | Secretary | 2006-06-28 | 2014-03-31 |
| WALLS, Andrew Peter Lindsay | Secretary | 2019-02-11 | 2019-11-01 |
| WALLS, Andrew Peter Lindsay | Secretary | 2015-03-20 | 2017-08-01 |
| WALLS, Andrew Peter Lindsay | Secretary | 2015-02-02 | 2015-02-09 |
| WARD HADAWAY COMPANY SECRETARIAL SERVICES LIMITED | Corporate Secretary | 2003-02-07 | 2003-03-03 |
| AIRLIE, Adrienne Anne | Director | 2019-11-01 | 2019-12-06 |
| BEATTIE, Steven James | Director | 2019-11-01 | 2021-08-27 |
| BROWN, Julian Andrew | Director | 2021-06-01 | 2024-06-01 |
| CLOUGH, John William | Director | 2011-05-06 | 2013-05-04 |
| EVERARD, Ian Douglas | Director | 2003-04-15 | 2005-09-08 |
| FELLS, Ian, Prof | Director | 2003-02-07 | 2005-09-30 |
| FLOYD, Christopher Gordon, Dr | Director | 2012-06-01 | 2015-05-31 |
| GLOVER, Lesley Anne, Prof. Dame | Director | 2016-04-01 | 2025-04-01 |
| GREENWOOD, Miriam Valerie | Director | 2014-03-31 | 2015-01-23 |
| HALLSWORTH, Frederick Stanislaus | Director | 2015-03-20 | 2024-03-31 |
| HOOD, Colin William, Dr | Director | 2014-03-31 | 2021-12-08 |
| IKWUE, Anthony, Dr | Director | 2011-04-27 | 2012-02-01 |
| JAMIESON, Andrew John | Director | 2014-03-31 | 2024-07-09 |
| KENNEDY, Malcolm William, Dr | Director | 2003-06-27 | 2012-02-01 |
| KING, Julia Elizabeth, Professor Dame | Director | 2015-03-20 | 2021-05-06 |
| LIDDELL, Helen Lawrie, Baroness | Director | 2014-03-31 | 2016-04-01 |
| LINFOOT, Richard John | Director | 2003-05-30 | 2006-01-31 |
| MARR, Richard Donald | Director | 2006-06-28 | 2014-03-31 |
| MCDONALD, James Rufus, Professor Sir | Director | 2014-03-31 | 2020-10-06 |
| MCINTOSH, Jeffrey Alder | Director | 2012-02-01 | 2014-03-31 |
| MCNEAL, Hugh Peter | Director | 2016-07-01 | 2023-12-31 |
| MILL, Andrew | Director | 2005-09-08 | 2019-01-31 |
| MOORE, Alan Geoffrey | Director | 2014-03-31 | 2019-07-16 |
| MURCH, Trevor James | Director | 2011-12-01 | 2014-03-31 |
| RICKETT, William Francis Sebastian | Director | 2010-10-01 | 2013-05-31 |
| RUTHERFORD, Alan Gray, Dr | Director | 2003-05-30 | 2011-12-01 |
| SAUNDERS, Robert William | Director | 2014-03-31 | 2015-11-20 |
| TAVNER, Peter John, Professor | Director | 2006-09-01 | 2007-07-01 |
| THOMPSON, Ruth | Director | 2007-07-01 | 2013-05-17 |
| WALLS, Andrew Peter Lindsay | Director | 2015-03-20 | 2019-11-01 |
| WALLS, Andrew Peter Lindsay | Director | 2015-02-02 | 2015-02-09 |
| WHITE, Anthony Alfred Leigh, Dr | Director | 2006-03-24 | 2012-05-31 |
| WHITE, Anthony Alfred Leigh, Dr | Director | 2003-10-29 | 2006-02-15 |
| WILSON, Brian David Henderson, Rt Hon | Director | 2005-10-26 | 2006-08-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Andrew John Jamieson | Individual | Significant influence | 2016-06-01 | Ceased 2020-10-06 |
| Mr Colin William Hood | Individual | Significant influence | 2016-06-01 | Ceased 2020-10-06 |
Filing timeline
Last 20 of 173 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-09 | AA | accounts | Accounts with accounts type group | |
| 2026-08-03 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-07 | AA | accounts | Accounts with accounts type group | |
| 2025-04-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-01-08 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-01 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-10 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-03 | AA | accounts | Accounts with accounts type group | |
| 2024-06-03 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-02 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-03 | TM01 | officers | Termination director company with name termination date | |
| 2023-07-17 | AA | accounts | Accounts with accounts type group | |
| 2023-02-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-12 | AA | accounts | Accounts with accounts type group | |
| 2022-03-29 | AP01 | officers | Appoint person director company with name date | |
| 2022-02-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-08 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- 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.