NSMP OPERATIONS 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

  -6.1%

  £162,932,000 → £152,940,000

• Cash

  -11.8%

  £1,766,000 → £1,557,000

• Net assets

  +24.6%

  £191,228,000 → £238,270,000

• Employees

  -5%

  20 → 19

• Operating profit

  +28.9%

  £50,257,000 → £64,789,000

• Profit before tax

  +29.8%

  £48,487,000 → £62,924,000

• Wages

  +18.6%

  £4,527,000 → £5,369,000

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

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have undertaken a rigorous assessment of going concern and liquidity over a period to 31 December 2026 ('the going concern period'). This includes review of financial forecasts through to the end of December 2026 which reflect severe, but plausible downside scenarios. The directors have also considered as part of this assessment the impact of events which have arisen following the balance sheet date and up to the date of issue of these financial statements. Due to the existence of a shared Group treasury function, the Directors have received confirmation from Selkie Investments Midstream Topco Limited, the Company's parent undertaking, that it intends to support the Company for the period to 31 December 2026, by directing cash flows to ensure the Company has sufficient funds available.”

Significant events

• “The Company was formed in December 2015 for the purpose of owning and operating midstream gas infrastructure assets in the North Sea.”
• “NSMP Operations Limited ("the Company") is part of the Selkie Investments Group ("the Group") that was formed in September 2018 for the purpose of owning and operating midstream gas infrastructure assets in the North Sea. The Group comprises one parent company, Selkie Investments Midstream Topco Limited, and 15 subsidiaries.”
• “The increase in profit after tax is a result of lower depreciation charge resulting from the change in useful life associated with SFGT.”
• “SFGT processed 186 bcf of gas in the year (2023: 191 bcf) from a number of fields in the NNS and WoS. The decrease in the volumes processed during the year is attributable to the impact of reduced production from the GLA and Martin Linge fields.”
• “The Company continues to target a number of future transportation and processing opportunities to enhance the future utilisation of its midstream infrastructure assets in the medium to longer term.”
• “Successful refinancing of banking facilities enabled a distribution, through the repayment of accrued shareholder loan note interest, to our Shareholders in Q4 2024.”
• “The Board approved a distribution, through the repayment of accrued shareholder loan note interest, during the year while ensuring the retention of appropriate capital within the Group to facilitate the needs of the business.”
• “In early 2024, Angela Fletcher joined the business as Chief Commercial Officer following Paul Turner's retirement. Later in the year, after Sayma Cox stepped down as CEO in November, Richard Ozsanlav, the CFO, was also appointed as interim CEO. Angela Fletcher was named as the permanent CEO in early 2025.”
• “The decision to refinance the business was one of the Company's strategic plans for 2024, aimed at optimising our financial structure to ensure a fit-for-purpose capital structure was in place for the medium-term as well as facilitating potential further growth. The process was initiated in the spring of 2024 and completed in October 2024.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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.