ITHACA EXPLORATION LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-09-21 (in 4mo)
Last made up 2025-09-07
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
£5M
USD 6,260,000
-99.7% vs 2023
Employees
0
Average over period
Profit before tax
£112M
USD 150,063,000
+15% vs 2023
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | -£715,407 | £15,706,063 | |
| Profit before tax | £97,574,942 | £112,179,861 | |
| Net profit | £81,983,255 | £125,595,425 | |
| Cash | — | — | |
| Total assets less current liabilities | — | — | |
| Net assets | £1,380,095,687 | £4,679,674 | |
| Equity | £1,380,095,687 | £4,679,674 | |
| Average employees | 0 | 0 | |
| Wages | — | — | |
| Directors' remuneration | — | — |
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
—
Not reported
-
Cash
—
Not reported
-
Net assets
-99.7%
£1,380,095,687 £4,679,674
-
Employees
—
Not reported
-
Operating profit
+2,295.4%
-£715,407 £15,706,063
-
Profit before tax
+15%
£97,574,942 £112,179,861
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Gearing (liabilities / total assets) | 1.1% | 36.5% |
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 1 time since incorporation
- ITHACA EXPLORATION LIMITED 2013-04-23 → present
- VALIANT EXPLORATION LIMITED 2006-08-23 → 2013-04-23
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have obtained confirmation from Ithaca Energy plc that it will provide the necessary support to enable the Company to meet its obligations as they fall due. This confirmation is valid until 31 December 2026.”
Significant events
- “On 16 December 2024 the Company executed amendment and restatement deeds in relation of intercompany loan agreements. The amendment comprised the loans being made interest free from 1 January 2024 and extending the repayment date to 16 December 2034.”
- “Following the amendment, a dividend in specie was declared comprising a distribution of loan balances for an amount of $1,867.0 million.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 18 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 2013-04-19 | — | — |
| 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 18 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GHERGHETTA, Robert | Secretary | 2006-09-07 | 2008-01-17 |
| MILNE, Gavin Johnston | Secretary | 2008-01-17 | 2010-11-09 |
| SHAW, Sandra Nan Demby | Secretary | 2010-11-09 | 2013-04-19 |
| MD SECRETARIES LIMITED | Corporate Nominee Secretary | 2006-08-23 | 2006-09-07 |
| BRUCE, Alan Alexander | Director | 2021-09-20 | 2024-01-04 |
| BUCHANAN, Peter | Director | 2006-09-07 | 2013-04-25 |
| CRAWFORD, David Andrew | Director | 2021-02-01 | 2022-09-01 |
| CROOKALL, Philip | Director | 2006-09-07 | 2011-09-30 |
| DUNNETT, Bill | Director | 2020-08-24 | 2021-09-14 |
| EDGLEY, Steven Neville | Director | 2007-08-17 | 2010-04-30 |
| FORBES, Graham Andrew | Director | 2013-04-19 | 2021-01-31 |
| LEWIS, Mark Jonathan | Director | 2010-04-12 | 2013-04-25 |
| MANN, Paul James | Director | 2011-03-01 | 2013-04-25 |
| MCKENDRICK, Charles Iain | Director | 2013-04-19 | 2013-10-01 |
| MYERSON, Gilad | Director | 2021-06-14 | 2024-05-27 |
| SHAW, Sandra Nan Demby | Director | 2006-09-07 | 2013-04-25 |
| THOMAS, Leslie James | Director | 2013-10-01 | 2020-08-24 |
| MD DIRECTORS LIMITED | Corporate Nominee Director | 2006-08-23 | 2006-09-07 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ithaca Oil And Gas Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-10-19 | Active |
| Ithaca Petroleum Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2020-10-19 |
Filing timeline
Last 20 of 136 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-01-14 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-07 | AA | accounts | Accounts with accounts type full | |
| 2025-09-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-01 | CH01 | officers | Change person director company with change date | |
| 2025-01-20 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-01-14 | SH20 | capital | Legacy | |
| 2025-01-14 | CAP-SS | insolvency | Legacy | |
| 2025-01-14 | RESOLUTIONS | resolution | Resolution | |
| 2024-11-19 | MR05 | mortgage | Mortgage charge whole release with charge number | |
| 2024-11-19 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-10-31 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-25 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2024-10-20 | CH01 | officers | Change person director company with change date | |
| 2024-10-18 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-14 | AA | accounts | Accounts with accounts type full | |
| 2024-10-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-25 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-25 | AP01 | officers | Appoint person director company with name date | |
| 2024-01-19 | AA | accounts | Accounts with accounts type full | |
| 2024-01-12 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-07 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 2
- 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.