LARGE DIAMETER DRILLING LIMITED
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Cash
£2.2M
-51.5% vs 2023
Net assets
-£43M
-25.6% vs 2023
Employees
111
-15.3% vs 2023
Profit before tax
-£19M
+33.7% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
Based on the latest financial projections, the company has sufficient funds to continue to meet its liabilities for at least twelve months if the payable with Acteon Group Limited is not redeemed. However, the director has not received confirmation of support. A severe downside scenario could break the cashflow model. Material uncertainties exist that cast significant doubt on the company's ability to continue as a going concern.
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £89,013,000 | £58,196,000 | -34.6% | |
| Operating profit | -£25,995,000 | -£13,108,000 | +49.6% | |
| Profit before tax | -£29,023,000 | -£19,238,000 | +33.7% | |
| Net profit | -£28,156,000 | -£8,786,000 | +68.8% | |
| Cash | £4,592,000 | £2,229,000 | -51.5% | |
| Total assets less current liabilities | -£23,489,000 | -£36,466,000 | -55.2% | |
| Net assets | -£34,372,000 | -£43,158,000 | -25.6% | |
| Equity | -£34,372,000 | — | — | |
| Average employees | 131 | 111 | -15.3% | |
| Wages | £6,964,000 | £6,277,000 | -9.9% | |
| Directors' remuneration | £15,000 | £0 | -100% |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -29.2% | -22.5% | |
| Net margin | -31.6% | -15.1% | |
| Gearing (liabilities / total assets) | 154.9% | 216.8% | |
| Current ratio | 0.63x | 0.40x | |
| Interest cover | -7.60x | -2.09x |
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.
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“Based on the latest financial projections, the company has sufficient funds to continue to meet its liabilities for at least twelve months if the payable with Acteon Group Limited is not redeemed. However, the director has not received confirmation of support. A severe downside scenario could break the cashflow model. Material uncertainties exist that cast significant doubt on the company's ability to continue as a going concern.”
Group structure
- LARGE DIAMETER DRILLING LIMITED · parent
- LDD Australia Pty Ltd 100%
Significant events
- “Challenging offshore windfarm project contract (commenced 2022) became loss-making in 2023 due to customer specification changes and design challenges, leading to a renegotiated contract. Further loss provision of £12.1M (2023: £24.4M) recognised as an exceptional item due to its size and incidence.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
1 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BOUFFARD, Brice Marc René | Director | 2026-03-11 | May 1970 | French |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| OVENDEN, Kevin Francis | Secretary | 2007-07-23 | 2016-06-13 |
| BOUFFARD, Brice Marc | Director | 2024-05-29 | 2026-01-22 |
| BRUGGAIER, Bernhard, Dr | Director | 2007-07-23 | 2024-05-30 |
| CLARK, Jason Charles | Director | 2007-07-24 | 2020-08-10 |
| DALE, Nicholas Matthew | Director | 2020-08-27 | 2023-02-06 |
| MOSES, Maurice | Director | 2026-01-22 | 2026-03-11 |
| OVENDEN, Kevin Francis | Director | 2007-07-23 | 2009-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Acteon Group Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 74 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-07-16 RESOLUTIONS Resolution
- 2024-06-12 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-11 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-27 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-01-26 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-26 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-03 | AA | accounts | Accounts with accounts type full | |
| 2025-11-18 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-08-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-01 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-05-01 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-12-20 | AA | accounts | Accounts with accounts type full | |
| 2024-08-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-25 | CH01 | officers | Change person director company with change date | |
| 2024-07-16 | RESOLUTIONS | resolution | Resolution | |
| 2024-06-12 | MA | incorporation | Memorandum articles | |
| 2024-06-06 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-06 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-02 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-10-17 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 2
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.