DEEP SEA STAVANGER (UK) LTD

Figures converted to GBP from USD at 0.748 per USD (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

• Turnover

  +5.1%

  £50,475,914 → £53,067,289

• Cash

  —

  Not reported

• Net assets

  -10%

  £325,080,918 → £292,515,062

• Employees

  —

  Not reported

• Operating profit

  +8%

  £18,563,765 → £20,054,360

• Profit before tax

  +8.4%

  £18,764,860 → £20,346,050

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.

1. DEEP SEA STAVANGER (UK) LTD 2017-02-03 → present
2. NEWCO DSS (UK) LTD 2017-01-30 → 2017-02-03

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Notwithstanding net current assets of $23M as of 31 December 2024 and a profit for the year then ended of $27M, the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons. The company meets it day to day working capital requirements, bank overdraft, together with operational cash flows, intercompany loans and trading balances with the group headed by Odfjell Drilling Limited, the ultimate parent company. The directors have prepared cash flow forecasts for a period of 12 months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the company will have sufficient funds, to meet its liabilities as they fall due for that period. The budget for 2025 shows that the company will generate sufficient funds for going concern. The company has also received a Letter of Support from the parent company Odfjell Invest Ltd and this financial support will include: "Not seeking the repayment of amounts advanced to the Company by the Parent and/or other members of the Parent group unless adequate alternative financing has been secured by the Company". This undertaking will remain in place for the foreseeable future and will not be withdrawn during a period of 12 months from the date of signing of the Financial Statements. Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Significant events

• “During the year, Equinor exercised further work for Deepsea Stavanger under the continued optionality mechanism, extending the Deepsea Stavanger's firm backlog into April 2025. The rig was awarded a five-year firm contract back in 2023 with Aker BP ASA, which is scheduled to commence after the planned SPS in April 2025.”

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

Filings

3

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.