SHELL QGC UPSTREAM 1 LIMITED
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Cash
—
Latest balance sheet
Net assets
£3.3bn
AUD 6,652,140,000
-0.3% vs 2024
Employees
—
Average over period
Profit before tax
£7.2m
AUD 14,554,000
+101.6% first positive since 2024
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | — | — | — | — | |
| Operating profit | -£262,032 | £257,133 | — | — | |
| Profit before tax | £9,122,460 | -£459,973,298 | £7,223,546 | +101.6% | |
| Net profit | £6,444,385 | -£462,497,157 | £5,362,815 | +101.2% | |
| Cash | — | — | — | — | |
| Total assets less current liabilities | £4,611,306,417 | £3,312,236,068 | £3,301,637,880 | -0.3% | |
| Net assets | £4,611,306,417 | £3,312,236,068 | £3,301,637,880 | -0.3% | |
| Equity | £4,611,306,417 | £3,312,236,068 | £3,301,637,880 | -0.3% | |
| Average employees | 0 | 0 | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £0 | £0 | — | — | |
| Directors' pension contributions | £0 | £0 | — | — | |
| Highest paid director | £0 | £0 | — | — |
Figures converted to GBP from AUD at 0.496 per AUD (Frankfurter spot rate) — hover any figure for the original. — 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 | 2025-12-31 |
|---|---|---|---|---|
| Return on capital employed | -0.0% | 0.0% | — | |
| Gearing (liabilities / total assets) | 0.0% | 0.2% | 0.1% | |
| Current ratio | 95.36x | 35.06x | 44.89x | |
| Interest cover | -0.20x | 0.22x | — |
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
- SHELL QGC UPSTREAM 1 LIMITED 2017-10-03 → present
- BG 123 LIMITED 2008-04-30 → 2017-10-03
- ALNERY NO. 2773 LIMITED 2008-04-09 → 2008-04-30
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have considered the potential risks and uncertainties relating to ongoing wars, geo-political events and its related economic impact on the Company's business, credit, market, and liquidity position. Based on the above, together with the Directors knowledge and experience of the market, the Directors consider it appropriate to prepare the financial statements for the year ended 31 December 2025 on a going concern basis.”
Group structure
- SHELL QGC UPSTREAM 1 LIMITED · parent
- BNG (Surat) Pty Ltd* 99%
- Condamine 1 Pty Ltd* 99%
- Condamine 2 Pty Ltd* 99%
- Condamine 3 Pty Ltd* 99%
- Condamine 4 Pty Ltd* 99%
- Condamine Power Station Pty Ltd* 99%
- New South Oil Pty Ltd* 99%
- QCLNG Pty Ltd* 99%
- QGC (B7) Pty Ltd* 99%
- QGC (Exploration) Pty Ltd* 99%
- QGC (Infrastructure) Pty Ltd* 99%
- QGC Midstream Services Pty Ltd* 99%
- QGC Northern Forestry Pty Ltd* 99%
- QGC Pty Limited* 99%
- QGC Sales Qld Pty Ltd* 99%
- QGC Upstream Investments Pty Ltd* 99%
- QGC Upstream Limited Partnership 99%
- Queensland Gas Company Pty Ltd* 99%
- Roma Petroleum Pty Limited* 99%
- SGA (Queensland) Pty Ltd* 99%
- SGAI Pty Limited* 99%
- Starzap Pty Ltd* 99%
- Sunshine 685 Pty Limited* 99%
- Sunshine Gas Pty Limited* 99%
- Walloons Coal Seam Gas Company Pty Limited* 74%
- Gas Resources Limited* 99%
Significant events
- “Subsequent to the end of the reporting period, the Company paid interim dividends amounting to $300 million.”
- “The conflict in the Middle East has led to significant and ongoing disruption across global energy markets, creating uncertainty around supply, pricing and operational stability. Stakeholders are increasingly focused on potential impacts on people, operations, contractual performance and the availability of key products.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 25 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PECTEN SECRETARIES LIMITED | Corporate Secretary | 2022-11-01 | — | — |
| CONNELL, Jeffrey Graham | Director | 2021-09-14 | Jul 1973 | British |
| LU, Jennifer | Director | 2024-05-23 | Oct 1979 | Australian |
Show 25 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BARRY, Chloe Silvana | Secretary | 2013-07-22 | 2016-06-30 |
| DUNN, Rebecca Louise | Secretary | 2011-09-26 | 2016-05-31 |
| ENNETT, Cayley Louise | Secretary | 2015-10-01 | 2016-06-30 |
| HUBBER, Keith Michael | Secretary | 2008-04-29 | 2008-09-02 |
| INMAN, Carol Susan | Secretary | 2008-09-02 | 2013-07-22 |
| MCCULLOCH, Alan William | Secretary | 2008-09-02 | 2012-04-27 |
| ALNERY INCORPORATIONS NO. 1 LIMITED | Corporate Secretary | 2008-04-09 | 2008-04-29 |
| SHELL CORPORATE SECRETARY LIMITED | Corporate Secretary | 2016-06-30 | 2022-11-01 |
| ARCHIBALD, Gary James | Director | 2016-06-30 | 2019-10-01 |
| BOND, Simon Edward | Director | 2019-10-01 | 2020-10-06 |
| EGLINGTON, Sarah | Director | 2020-10-06 | 2025-08-22 |
| HALL, Graham | Director | 2008-04-29 | 2016-06-30 |
| HARRISON, Clare | Director | 2020-01-31 | 2022-05-31 |
| HOWELL, Kim Michael Sebastian | Director | 2008-04-29 | 2011-07-19 |
| JAMIESON, Michael Alan | Director | 2015-03-02 | 2016-06-30 |
| O'DRISCOLL, John Patrick | Director | 2008-04-29 | 2011-12-19 |
| PINE, Lucinda Sarah Louise | Director | 2022-05-31 | 2024-05-23 |
| RITCHIE, Lindsey Jane | Director | 2016-06-30 | 2021-09-01 |
| STEWART, John Charles Wilkie | Director | 2008-10-20 | 2012-08-28 |
| UNGER, Stephen Robert | Director | 2011-07-27 | 2016-06-30 |
| WALSH, Mandy Jane | Director | 2008-10-20 | 2016-06-30 |
| WARRILOW, David Andrew | Director | 2016-06-30 | 2020-01-31 |
| ZINNER, Pedro | Director | 2012-02-13 | 2014-02-28 |
| ALNERY INCORPORATIONS NO. 1 LIMITED | Corporate Director | 2008-04-09 | 2008-04-29 |
| ALNERY INCORPORATIONS NO. 2 LIMITED | Corporate Director | 2008-04-09 | 2008-04-29 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bg 456 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 186 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-11-04 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-28 | AA | accounts | Accounts with accounts type full | |
| 2026-06-25 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-06-05 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-06-05 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2026-06-03 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-11-04 | SH20 | capital | Legacy | |
| 2025-11-04 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-11-04 | CAP-SS | insolvency | Legacy | |
| 2025-11-04 | RESOLUTIONS | resolution | Resolution | |
| 2025-09-04 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-07 | AA | accounts | Accounts with accounts type full | |
| 2025-06-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-24 | AA | accounts | Accounts with accounts type full | |
| 2024-06-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-03 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-28 | AA | accounts | Accounts with accounts type full | |
| 2023-06-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-11-28 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2022-11-18 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- 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.