SHELF SUBSEA HOLDINGS UK LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-08-01 (in 3mo)
Last made up 2025-07-18
Watchouts
Cash
£23M
AUD 42,407,568
+151.4% vs 2023
Net assets
£17M
AUD 32,462,389
+1,457.6% vs 2023
Employees
250
-35.1% vs 2023
Profit before tax
£20M
AUD 37,228,781
+149.2% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Audit opinion: Qualified
Latest auditor's report carried a non-clean opinion.
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · latest reflected 2024-12-31
| Metric | Trend | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Turnover | — | £131,369,347 | £111,128,261 | |
| Operating profit | — | £10,621,283 | £21,714,769 | |
| Profit before tax | — | £7,980,363 | £19,885,045 | |
| Net profit | — | £6,837,005 | £17,778,497 | |
| Cash | — | £9,009,754 | £22,651,195 | |
| Total assets less current liabilities | — | £13,610,080 | £32,802,589 | |
| Net assets | £34,975,451 | £1,113,198 | £17,339,167 | |
| Equity | — | £1,113,198 | £17,339,167 | |
| Average employees | 3 | 385 | 250 | |
| Wages | £0 | £14,222,213 | £12,684,144 | |
| Directors' remuneration | — | £1,409,220 | £1,562,696 |
Figures converted to GBP from AUD at 0.534 per AUD (Frankfurter spot rate) — hover any figure for the original. — 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
-15.4%
£131,369,347 £111,128,261
-
Cash
+151.4%
£9,009,754 £22,651,195
-
Net assets
+1,457.6%
£1,113,198 £17,339,167
-
Employees
-35.1%
385 250
-
Operating profit
+104.4%
£10,621,283 £21,714,769
-
Profit before tax
+149.2%
£7,980,363 £19,885,045
-
Wages
-10.8%
£14,222,213 £12,684,144
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 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Operating margin | — | 8.1% | 19.5% | |
| Net margin | — | 5.2% | 16.0% | |
| Return on capital employed | — | 78.0% | 66.2% | |
| Gearing (liabilities / total assets) | — | 97.7% | 66.7% | |
| Current ratio | — | 1.07x | 2.04x | |
| Interest cover | — | 3.85x | 10.22x |
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
- Hall Morrice LLP
- Audit opinion
- Qualified
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- SHELF SUBSEA HOLDINGS UK LIMITED · parent
- Shelf Subsea Services UK Limited 100%
- Shelf Subsea Services Pte. Ltd 100%
- Shelf Subsea Solutions Pte. Ltd 100%
- Bintang Subsea (S) Pte. Ltd 100%
- Shelf Subsea Australia Pty Ltd 100%
- PT Bintang Subsea Indonesia 100%
- Bintang Subsea Ventures (m) Sdn. Bhd 100%
- Shelf Subsea Holdings Pte. Ltd 100%
Significant events
- “Following a strategic review, the Group completed the sale of its subsidiaries on 21 May 2025. As a result, the Group has transitioned from an operating business to an investment holding company with no active trading operations post 21 May 2025.”
- “Subsequent to year end, the group completed the sale of Shelf Subsea Services Pte Ltd. Following this transaction, the subsidiary entered into new financing arrangements with its new parent. As the company was no longer part of the group at that date, these arrangements are not expected to have any impact on the group.”
- “On 20 May 2025, a subsidiary of the Company, Shelf Subsea Holdings Pte ("SSH"), entered into a Share Purchase Agreement ("SPA"), pursuant to which SSH sold 100% of the shares in its subsidiary, Shelf Subsea Services Pte Ltd., being 24,136,369 fully paid ordinary shares to DeepOcean APAC AS, a company incorporated in Oslo, Norway. This transaction was completed on 21 May 2025. Following the transaction, Shelf Subsea Services Pte Ltd. (and each subsidiary of that company) ceased to be a subsidiary of the Group.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ALLEN, Marshall Kipling | Director | 2016-07-19 | Sep 1966 | Australian |
| O'MAHONY, James | Director | 2016-08-10 | Jun 1980 | Australian |
| WELSH, Colin Ian | Director | 2017-07-31 | Dec 1959 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| TMF CORPORATE ADMINISTRATION SERVICES LIMITED | Corporate Secretary | 2016-07-29 | 2020-09-30 |
| STUART, Peter John | Director | 2016-07-29 | 2020-07-17 |
| WYPER, Alastair Blackwood | Director | 2016-07-29 | 2017-11-09 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 55 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-06-02 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-16 | AA | accounts | Accounts with accounts type group | |
| 2025-10-21 | DISS40 | gazette | Gazette filings brought up to date | |
| 2025-10-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-17 | DISS16(SOAS) | dissolution | Dissolved compulsory strike off suspended | |
| 2025-10-07 | GAZ1 | gazette | Gazette notice compulsory | |
| 2025-07-02 | SH06 | capital | Capital cancellation shares | |
| 2025-07-02 | SH03 | capital | Capital return purchase own shares | |
| 2025-06-03 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-06-02 | SH20 | capital | Legacy | |
| 2025-06-02 | CAP-SS | insolvency | Legacy | |
| 2025-06-02 | RESOLUTIONS | resolution | Resolution | |
| 2024-09-30 | AA | accounts | Accounts with accounts type group | |
| 2024-08-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-02-08 | CH01 | officers | Change person director company with change date | |
| 2023-11-17 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-10-16 | AA | accounts | Accounts with accounts type group | |
| 2023-07-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-26 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-11-09 | AA | accounts | Accounts with accounts type group | |
| 2022-07-27 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 4
- 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.