GEOEX MCG LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-30
Confirmation statement due
2027-04-04 (in 11mo)
Last made up 2026-03-21
Watchouts
None on the register
Cash
£5M
USD 6,184,868
+35.6% vs 2023
Net assets
£6M
USD 8,078,466
-25.4% lowest in 4 filed years
Employees
17
0% vs 2023
Profit before tax
-£2M
USD -2,733,195
-296.3% vs 2023
Net assets
7-year trend · vs Industrials median
Accounts
7-year trend · latest reflected 2024-12-30
| Metric | Trend | 2020-12-31 | 2021-12-30 | 2021-12-31 | 2022-12-30 | 2022-12-31 | 2023-12-30 | 2024-12-30 |
|---|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | — | £9,321,597 | £5,237,114 | |
| Operating profit | — | — | — | — | — | £965,998 | -£2,184,347 | |
| Profit before tax | — | — | — | — | — | £1,041,073 | -£2,043,205 | |
| Net profit | — | -£964,741 | — | £681,843 | — | £437,905 | -£2,058,454 | |
| Cash | — | £3,878,504 | — | £4,870,228 | — | £3,409,999 | £4,623,509 | |
| Total assets less current liabilities | — | £9,311,573 | — | £9,995,933 | — | £8,225,988 | £6,164,144 | |
| Net assets | — | £7,606,996 | — | £8,288,839 | — | £8,097,526 | £6,039,072 | |
| Equity | £8,683,878 | £7,606,996 | £7,606,996 | £8,288,839 | £8,288,839 | £8,097,526 | £6,039,072 | |
| Average employees | — | 15 | — | 14 | — | 17 | 17 | |
| Wages | — | — | — | — | — | £1,698,377 | £1,568,535 | |
| Directors' remuneration | — | — | — | — | — | £375,748 | £323,050 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-12-30 vs 2023-12-30
-
Turnover
-43.8%
£9,321,597 £5,237,114
-
Cash
+35.6%
£3,409,999 £4,623,509
-
Net assets
-25.4%
£8,097,526 £6,039,072
lowest in 4 filed years
-
Employees
0%
17 17
-
Operating profit
-326.1%
£965,998 -£2,184,347
-
Profit before tax
-296.3%
£1,041,073 -£2,043,205
-
Wages
-7.6%
£1,698,377 £1,568,535
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2020-12-31 | 2021-12-30 | 2021-12-31 | 2022-12-30 | 2022-12-31 | 2023-12-30 | 2024-12-30 |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | 10.4% | -41.7% | |
| Net margin | — | — | — | — | — | 4.7% | -39.3% | |
| Return on capital employed | — | — | — | — | — | 11.7% | -35.4% | |
| Gearing (liabilities / total assets) | — | — | — | — | — | 36.3% | 38.0% | |
| Current ratio | — | — | — | — | — | 1.81x | 1.78x | |
| Interest cover | — | — | — | — | — | 211.89x | -566.92x |
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
- GEOEX MCG LTD 2020-09-02 → present
- GEOEX LTD 2016-06-25 → 2020-09-02
- EICS (INTERNATIONAL) LIMITED 2003-07-17 → 2016-06-25
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Accendo Consulting Ltd
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- GEOEX MCG LTD · parent
- Geoex Panama S.A. 100%
- Geoex MCG LLC 100%
- Mulit Client Geophyiscal (Pte) Ltd 100%
- Mulitclient Geophysical Mexico 100%
- EICS de Mexico, S. de R.L. de C.V. 100%
Significant events
- “Following the successful acquisition of the PGS (now TGS) Norwegian Sea GeoStreamerXTM MC3D survey in 2023 covering 430sqkm of the Group's existing Froan and Frøya MC3D project, acquiring data orthogonal to the Frøya project, GXM participated in 2024 in the acquisition of an extension to the 2023 area covering a further 411sqkm.”
- “Furthermore, GXM embarked on a test-reprocessing of 150sqkm area from the Quad35 Hybrid MC3D and a line from our Regional Deep Imaging (RDI) MC2D. Results from these are expected in 2025 and will facilitate prefunded, full reprocessing of both of our Quad35 Hybrid MC3Ds (1,380sqkm) and the RDI MC2D (16,250 km). The Group has also in 2024 commenced the reprocessing of data from Venezuela.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GIBSON, Andrea | Secretary | 2021-11-25 | — | — |
| THOMAS, Kenneth | Secretary | 2020-06-24 | — | — |
| BENICHOU, Pierre | Director | 2020-06-24 | Mar 1940 | French |
| LIPSKY, Pascal | Director | 2003-07-22 | Oct 1958 | French |
| WOLDEN, Tom | Director | 2022-01-01 | Oct 1955 | Norwegian |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOTTRILL, Iain David | Secretary | 2009-01-26 | 2020-06-24 |
| LIPSKY, Esther Diane | Secretary | 2003-07-22 | 2009-01-26 |
| WAYNE, Harold | Nominee Secretary | 2003-07-17 | 2003-07-22 |
| BENICHOU, Pierre | Director | 2008-09-19 | 2015-06-30 |
| BOTTRILL, Iain David | Director | 2012-12-01 | 2020-06-24 |
| LIPSKY, Esther Diane | Director | 2003-07-22 | 2015-10-01 |
| WAYNE, Yvonne | Nominee Director | 2003-07-17 | 2003-07-22 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Pierre Benichou | Individual | Shares 25–50%, Voting 25–50% | 2016-07-01 | Ceased 2019-10-22 |
| Mr Pascal Lipsky | Individual | Significant influence | 2016-07-01 | Ceased 2019-10-22 |
| Mr Pascal Lipsky | Individual | Shares 25–50%, Voting 25–50% | 2016-07-01 | Active |
| Mr Pierre Benichou | Individual | Shares 25–50%, Voting 25–50%, Appoints directors, Significant influence | 2016-07-01 | Active |
Filing timeline
Last 20 of 116 total filings
Material constitutional events — rename, articles re-file, resolution
- 2020-09-02 RESOLUTIONS Resolution PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-12 | AA | accounts | Accounts with accounts type group | |
| 2025-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-06 | AA | accounts | Accounts with accounts type group | |
| 2024-03-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-11-07 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-08-09 | AA | accounts | Accounts with accounts type group | |
| 2023-07-28 | SH01 | capital | Capital allotment shares | |
| 2022-11-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-25 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-09-28 | AA | accounts | Accounts with accounts type group | |
| 2022-01-11 | AP01 | officers | Appoint person director company with name date | |
| 2021-12-08 | AP03 | officers | Appoint person secretary company with name date | |
| 2021-11-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-28 | AA | accounts | Accounts with accounts type group | |
| 2021-01-27 | AAMD | accounts | Accounts amended with accounts type group | |
| 2021-01-19 | AA | accounts | Accounts with accounts type group | |
| 2020-11-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2020-10-15 | SH06 | capital | Capital cancellation shares | |
| 2020-09-02 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- 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.