BOREALIS MARITIME LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-02-01 (in 9mo)
Last made up 2026-01-18
Watchouts
None on the register
Cash
£9M
+13.2% highest in 4 filed years
Net assets
£12M
+12.6% highest in 4 filed years
Employees
62
+40.9% highest in 4 filed years
Profit before tax
£6M
-4.1% vs 2023
Net assets
4-year trend · vs Industrials median
Accounts
4-year trend · latest reflected 2024-12-31
| Metric | Trend | 2019-12-31 | 2020-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|
| Turnover | — | — | £16,545,244 | £18,104,223 | |
| Operating profit | — | — | £6,828,927 | £6,634,737 | |
| Profit before tax | — | — | £6,694,817 | £6,418,273 | |
| Net profit | — | £3,354,941 | £5,141,854 | £4,969,721 | |
| Cash | £748,052 | £901,975 | £8,008,843 | £9,069,763 | |
| Total assets less current liabilities | £2,249,145 | £3,929,003 | £10,844,378 | £12,208,053 | |
| Net assets | £2,239,715 | £3,923,686 | £10,839,061 | £12,202,736 | |
| Equity | £2,239,715 | £3,923,686 | £10,839,061 | £12,202,736 | |
| Average employees | 19 | 26 | 44 | 62 | |
| Wages | — | — | £5,722,967 | £7,054,249 | |
| Directors' remuneration | — | — | £1,025,064 | £942,150 |
Values shown as filed in the company's annual accounts. — 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
+9.4%
£16,545,244 £18,104,223
-
Cash
+13.2%
£8,008,843 £9,069,763
highest in 4 filed years
-
Net assets
+12.6%
£10,839,061 £12,202,736
highest in 4 filed years
-
Employees
+40.9%
44 62
highest in 4 filed years
-
Operating profit
-2.8%
£6,828,927 £6,634,737
-
Profit before tax
-4.1%
£6,694,817 £6,418,273
-
Wages
+23.3%
£5,722,967 £7,054,249
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|
| Operating margin | — | — | 41.3% | 36.6% | |
| Net margin | — | — | 31.1% | 27.5% | |
| Return on capital employed | — | — | 63.0% | 54.3% | |
| Gearing (liabilities / total assets) | — | — | 45.0% | 44.3% | |
| Current ratio | — | — | 2.14x | 2.21x | |
| Interest cover | — | — | 37.01x | 24.65x |
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 102
- Reporting scope
- Consolidated group
- Auditor
- Orcom Civvals Audit Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have, at the time of issuing the financial statements, an expectation that the Group will generate sufficient working capital and have adequate resources to continue in operational existence for the foreseeable future. In making their assessment, the directors have prepared budgets and cash flow forecasts covering a period of 12 months from the date of approval of these financial statements (the going concern assessment period). Based on this assessment, the directors consider that the Group will have sufficient funds to meet its working capital requirements during that period. The directors remain alert to the risks prevalent in a commercial environment and continue to take steps to minimize or mitigate these risks to the Group. These include, but not limited to, the impact of both global and local economic performance on shipping markets, events of global significance and impact of the wars in Ukraine and the Middle East), the Group's reputation with shipping investors, and the typical risks associated with the maritime industry.”
Group structure
- BOREALIS MARITIME LIMITED · parent
- Aengus Agency Limited 100%
- Aurora Marine Fuels Limited 91.5%
- Aurora Offshore AS 75%
- Aurora Offshore (Middle East) LLC 75%
- Aurora Mooring & Services AS 90%
- Australis Maritime Limited 100%
- Borealis Holding (HKG) Limited 46.75%
- Borealis Maritime GmbH & Co. KG 100%
- Borealis Maritime Verwaltungs GmbH 100%
- Hanseatic Unity Chartering (UK) Limited 100%
- Aurora Offshore Management AS 100%
- Aurora 1 AS 100%
- Aurora Offshore Limited 100%
- Aurora Shipholding AS 100%
- Aurora Shipping One AS 100%
- Borealis Services Limited 100%
- Northern Light Crew Management Limited 100%
- BM Short-Sea I Limited 100%
- Bomar Shipmanagement GmbH & Co KG 100%
- Bomar Shipmanagement Verwaltungsgesellschaft mbH 100%
Significant events
- “The Company has since the reporting date paid dividends of £2,000,000 cash.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SAKELLIS, Elias | Director | 2017-11-15 | Jul 1976 | British |
| TOEPFER, Christoph Egon Ludolf | Director | 2010-01-18 | Apr 1970 | German |
| WILKINS, Anna Katherine | Director | 2023-10-06 | Jan 1981 | British |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| RYE-FLORENTZ, Frederik Nicolai | Secretary | 2010-01-18 | 2017-09-30 |
| GUNESSEE, Ashvin | Director | 2019-11-11 | 2023-10-06 |
| MURRAY, William John | Director | 2015-10-22 | 2016-09-26 |
| RYE-FLORENTZ, Frederik Nicolai, Mr. | Director | 2010-01-18 | 2017-09-30 |
| SMAKOWSKI, Simon | Director | 2019-11-11 | 2020-04-15 |
| TOPHAM, Nicholas Andrew | Director | 2017-01-19 | 2018-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Elias Sakellis | Individual | Shares 25–50%, Voting 25–50% | 2020-06-02 | Active |
| Mr Frederik Nicolai Rye-Florentz | Individual | Shares 25–50% | 2016-04-06 | Ceased 2020-03-17 |
| Mr Christoph Egon Ludolf Toepfer | Individual | Shares 50–75%, Voting 50–75% | 2016-04-06 | Active |
Filing timeline
Last 20 of 115 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-13 | CH01 | officers | Change person director company with change date | |
| 2026-02-13 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2026-02-13 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2026-02-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-08 | AA | accounts | Accounts with accounts type group | |
| 2025-01-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-31 | AA | accounts | Accounts with accounts type group | |
| 2024-01-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-09 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2023-11-09 | CH01 | officers | Change person director company with change date | |
| 2023-11-06 | AA | accounts | Accounts with accounts type group | |
| 2023-10-10 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-10 | TM01 | officers | Termination director company with name termination date | |
| 2023-03-13 | AA | accounts | Accounts with accounts type group | |
| 2023-01-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-16 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-11-16 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-10-21 | MR04 | mortgage | Mortgage satisfy charge part | |
| 2022-10-21 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-01-18 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- 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.