GENEL ENERGY SOMALILAND LIMITED
Operating as a subsidiary of the London Stock Exchange-listed Genel Energy plc, the company manages the group's oil and gas exploration licences and support activities in Somaliland.
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Cash
—
Latest balance sheet
Net assets
—
Equity attributable
Employees
22
-18.5% vs 2023
Profit before tax
-£607K
USD -807,000
+32.9% vs 2023
Profit before tax
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 | — | — | — | |
| Operating profit | -£904,307 | -£607,382 | +32.8% | |
| Profit before tax | -£903,556 | -£606,630 | +32.9% | |
| Net profit | -£903,556 | -£606,630 | +32.9% | |
| Cash | — | — | — | |
| Total assets less current liabilities | — | — | — | |
| Net assets | — | — | — | |
| Equity | — | — | — | |
| Average employees | 27 | 22 | -18.5% | |
| Wages | £275,126 | £261,595 | -4.9% | |
| Directors' remuneration | — | — | — |
Figures converted to GBP from USD at 0.752 per USD (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
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors believe that preparing the financial statements on a going concern basis is appropriate due to the continued financial support of the ultimate parent company Genel Energy plc. The Company is dependent on financial support from Genel Energy plc as it is not currently generating funds of its own and it is in a net liability position. In this respect, the confirmation has been obtained from Genel Energy plc that intends to support the Company for at least 12 months following the signing of the annual report for the year ended 31 December 2024. The Directors have assessed that the Group's forecast liquidity provides adequate headroom over the forecast expenditure and planned exploration drilling campaigns, the ability to service the interest and comply with the bond covenants. As a result, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and consequently the financial statements have been prepared on a going concern basis.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KARANIA, Chandni | Secretary | 2017-06-06 | — | — |
| ADAMS, Michael John | Director | 2015-03-19 | Sep 1967 | British |
| CLEMENTS, Luke Nicholas | Director | 2015-06-30 | Apr 1978 | British |
| FREEAR, Andrew Philip | Director | 2024-02-01 | Nov 1982 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ROBERTSON, Sarah Elizabeth Highton | Secretary | 2013-02-18 | 2017-06-06 |
| MCCONNACHIE, David John | Director | 2012-06-28 | 2015-06-30 |
| PROCTOR, Charles Richard Faraday | Director | 2012-06-28 | 2015-03-19 |
| WEIR, John Paul | Director | 2022-07-12 | 2024-02-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Genel Energy Africa Exploration Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 43 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-06-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-12 | AA | accounts | Accounts with accounts type full | |
| 2024-07-12 | AA | accounts | Accounts with accounts type full | |
| 2024-06-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-30 | CH01 | officers | Change person director company with change date | |
| 2024-02-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-01 | AP01 | officers | Appoint person director company with name date | |
| 2023-08-08 | AA | accounts | Accounts with accounts type full | |
| 2023-06-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-19 | AA | accounts | Accounts with accounts type full | |
| 2022-07-14 | AP01 | officers | Appoint person director company with name date | |
| 2022-06-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-23 | AA | accounts | Accounts with accounts type full | |
| 2021-07-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-09-09 | AA | accounts | Accounts with accounts type full | |
| 2020-07-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2019-08-06 | AA | accounts | Accounts with accounts type full | |
| 2019-07-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2018-07-19 | AA | accounts | Accounts with accounts type full | |
| 2018-07-09 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months