BOREAS HOLDCO LIMITED

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

• Turnover

  -6.8%

  £112,214,000 → £104,540,000

• Cash

  -27.4%

  £3,895,000 → £2,827,000

• Net assets

  +20.2%

  -£140,761,000 → -£112,293,000

• Employees

  —

  Not reported

• Operating profit

  -0.8%

  £61,446,000 → £60,925,000

• Profit before tax

  +4.4%

  £34,232,000 → £35,726,000

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

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.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Due to the Group and the Company receiving its funding from its shareholder in the form of a loan rather than as equity, the Group has net current liabilities and net liabilities and the Company has net current liabilities and net assets as of 31 December 2024. To ensure that the Group and the Company are able to discharge their liabilities over the going concern period ending 30 September 2026, the directors have received written confirmation from their ultimate shareholder, CDPQ, that requests to call any amount either in the form of interest payments or principal repayments in relation to the outstanding shareholder loan will only be made to the extent that such amount is available for the Group and Company and that making such payment would not result in the Group or Company becoming insolvent during the going concern period.”

Group structure

1. BOREAS HOLDCO LIMITED · parent
   1. Boreas (Investment) Limited 99.99% · United Kingdom · to own and operate jointly the London Array project

Significant events

• “The main component failures relate to a known design defect, which is being addressed through a structured replacement programme; these are not expected to recur beyond the current campaign (2024 to 2027).”
• “The joint operation London Array has a contingent liability of £3,359k (2023: £3,359k) due to a cable repair for installation of a replacement sub-sea cable caused by workmanship error. Liability expected to rest with installer contractor, under warranty contract.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.