PETRICORE LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-10-14 (in 5mo)
Last made up 2025-09-30
Watchouts
None on the register
Cash
£423K
USD 565,448
-53.1% vs 2023
Net assets
£5M
USD 6,320,589
-9% lowest in 5 filed years
Employees
286
-14.6% vs 2023
Profit before tax
£2M
USD 3,209,620
-38.8% vs 2023
Net assets
6-year trend · vs Industrials median
Accounts
6-year trend · latest reflected 2024-12-31
| Metric | Trend | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | £32,583,198 | £30,267,307 | |
| Operating profit | — | — | — | — | £4,368,204 | £3,617,775 | |
| Profit before tax | — | — | — | — | £3,921,170 | £2,399,357 | |
| Net profit | — | -£9,466,674 | £1,304,431 | -£2,333,640 | £2,509,613 | £1,333,790 | |
| Cash | £13,622 | £45,941 | £381,479 | £3,155 | £901,049 | £422,702 | |
| Total assets less current liabilities | — | — | — | £7,598,341 | £7,176,825 | £6,019,974 | |
| Net assets | — | £6,766,099 | £8,070,530 | £5,915,190 | £5,192,141 | £4,724,967 | |
| Equity | — | — | — | £2,110,410 | £5,192,141 | £4,724,967 | |
| Average employees | — | 5 | 5 | 5 | 335 | 286 | |
| Wages | — | £0 | £0 | £0 | £8,761,510 | £8,325,975 | |
| Directors' remuneration | — | — | — | — | £2,414,365 | £1,428,512 |
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 2024-12-31 vs 2023-12-31
-
Turnover
-7.1%
£32,583,198 £30,267,307
-
Cash
-53.1%
£901,049 £422,702
-
Net assets
-9%
£5,192,141 £4,724,967
lowest in 5 filed years
-
Employees
-14.6%
335 286
-
Operating profit
-17.2%
£4,368,204 £3,617,775
-
Profit before tax
-38.8%
£3,921,170 £2,399,357
-
Wages
-5%
£8,761,510 £8,325,975
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 | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | 13.4% | 12.0% | |
| Net margin | — | — | — | — | 7.7% | 4.4% | |
| Return on capital employed | — | — | — | — | 60.9% | 60.1% | |
| Current ratio | — | — | — | — | 1.04x | 1.03x | |
| Interest cover | — | — | — | — | 8.96x | 2.67x |
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
- PETRICORE LIMITED 2015-09-25 → present
- DRILLING TECHNOLOGIES LIMITED 2008-02-27 → 2015-09-25
- FINAMATICS DATA SERVICES LIMITED 2006-06-02 → 2008-02-27
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- SPW (UK) LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Directors' use of the going concern basis of accounting is appropriate. No material uncertainties identified casting doubt on the group's ability to continue as a going concern for at least twelve months from when the financial statements are authorised for issue.”
Group structure
- PETRICORE LIMITED · parent
- Drilltek S.A. de C.V. 95%
- DTK Laboratories Inc. 100%
- Stratascan Mexico S.A. de C.V. 99.97%
- Petricore Norway AS 100%
Significant events
- “Pemex in being reorganised and in the current year ending 2025, there has been a significant delays in payments. This had an impact in the overall activities and group turnover for the current year is forecasted to be much lower. Management is conducting a review and to restructure operational activities to enhance overall productivity and efficiency.”
- “On 1 January 2024, Codego AS merged with Petricore Norway AS.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 8 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HJELMELAND, Odd Svein | Director | 2008-04-18 | Nov 1949 | Norwegian |
| LAWRENCE, John David | Director | 2008-04-18 | Mar 1955 | British |
| OSTHUS, Bernt Eivind | Director | 2008-04-18 | Dec 1970 | Norwegian |
| PALAVICINI CHAM, Carlos Alberto | Director | 2022-10-27 | Jul 1974 | Mexican |
| WELSVIK, Robert Per Otto | Director | 2013-12-05 | Apr 1960 | Norwegian |
Show 8 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| PAGE, Stephen Richard | Secretary | 2013-07-08 | 2019-04-30 |
| ALDBRIDGE SERVICES LONDON LIMITED | Corporate Secretary | 2006-06-02 | 2013-07-08 |
| CONROY, Michael John | Director | 2008-12-23 | 2014-04-01 |
| LYNGSTAD, Ola Petter Tandle | Director | 2011-01-30 | 2012-02-08 |
| PAGE, Stephen Richard | Director | 2006-06-02 | 2019-04-30 |
| SHYLA, Aliaksandr | Director | 2006-06-02 | 2006-11-12 |
| TOZER, Richard | Director | 2008-12-23 | 2012-07-30 |
| TOZER, Richard | Director | 2008-12-12 | 2008-12-12 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 133 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-20 | AA | accounts | Accounts with accounts type group | |
| 2025-10-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-04-30 | AA | accounts | Accounts with accounts type group | |
| 2025-03-08 | DISS40 | gazette | Gazette filings brought up to date | |
| 2025-03-04 | GAZ1 | gazette | Gazette notice compulsory | |
| 2024-10-15 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-02-28 | AA | accounts | Accounts with accounts type group | |
| 2023-10-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-13 | SH01 | capital | Capital allotment shares | |
| 2023-02-06 | AP01 | officers | Appoint person director company with name date | |
| 2022-12-01 | AA | accounts | Accounts with accounts type group | |
| 2022-09-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-06-08 | SH01 | capital | Capital allotment shares | |
| 2022-01-26 | AA | accounts | Accounts with accounts type group | |
| 2021-11-18 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2021-11-12 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-06-24 | CH01 | officers | Change person director company with change date | |
| 2021-05-25 | AA | accounts | Accounts with accounts type group | |
| 2021-05-21 | CH01 | officers | Change person director company with change date | |
| 2021-05-13 | CH01 | officers | Change person director company with change date |
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.