DEEP SEA ATLANTIC (UK) LTD
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Cash
£7.3M
USD 9,701,237
+165.3% vs 2024
Net assets
£275M
USD 365,650,863
-1.1% vs 2024
Employees
0
Average over period
Profit before tax
£42M
USD 56,244,536
+234.9% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
Notwithstanding net current liabilities of $5M and a profit of $54M, the financial statements are prepared on a going concern basis. The company received a Letter of Support from Odfjell Rig III Ltd, confirming financial support and not seeking repayment for 12 months. However, the directors acknowledge that there can be no certainty that this support will continue.
Net assets
3-year trend · vs Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £48,084,595 | £56,916,389 | £78,172,800 | +37.3% | |
| Operating profit | £9,998,803 | £12,412,569 | £42,135,557 | +239.5% | |
| Profit before tax | £10,194,969 | £12,625,118 | £42,279,588 | +234.9% | |
| Net profit | £14,497,003 | £11,993,862 | £40,165,609 | +234.9% | |
| Cash | £12,734,406 | £2,749,072 | £7,292,518 | +165.3% | |
| Total assets less current liabilities | £267,927,510 | £277,812,964 | £274,863,462 | -1.1% | |
| Net assets | £267,927,510 | £277,812,964 | £274,863,462 | -1.1% | |
| Equity | £267,927,510 | £277,812,964 | £274,863,462 | -1.1% | |
| Average employees | — | 0 | 0 | — | |
| Wages | £481,979 | — | — | — | |
| Directors' remuneration | — | £0 | £6,091 | — |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 20.8% | 21.8% | 53.9% | |
| Net margin | 30.1% | 21.1% | 51.4% | |
| Return on capital employed | 3.7% | 4.5% | 15.3% | |
| Gearing (liabilities / total assets) | — | 13.6% | 9.4% | |
| Current ratio | 0.33x | 0.29x | 0.50x |
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.
Name history
Renamed 1 time since incorporation
- DEEP SEA ATLANTIC (UK) LTD 2017-02-03 → present
- NEWCO DSA (UK) LTD 2017-01-30 → 2017-02-03
Audit & accounting basis
- Accounting basis
- FRS 102
- Auditor
- Crowe U.K. LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“Notwithstanding net current liabilities of $5M and a profit of $54M, the financial statements are prepared on a going concern basis. The company received a Letter of Support from Odfjell Rig III Ltd, confirming financial support and not seeking repayment for 12 months. However, the directors acknowledge that there can be no certainty that this support will continue.”
Significant events
- “On 18 April 2026, during running of the Blowout Preventer ("BOP") on the Deepsea Atlantic, an incident occurred causing the BOP to drop to the seabed at an approximate depth of 1,100 metres. No personnel were injured during the incident and the rig is secure. At this stage, it is too early to reliably estimate any potential financial impact resulting from the incident.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ASKVIK, Erik | Director | 2023-11-30 | Apr 1962 | Norwegian |
| CARBONE, John | Director | 2023-11-30 | Nov 1975 | Maltese |
| HARALDSEN, Øivind, Mr. | Director | 2023-11-30 | Mar 1960 | Norwegian |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ARTHUR, Heather | Secretary | 2023-04-03 | 2023-06-27 |
| BASSON, Gillian | Secretary | 2023-06-27 | 2023-11-30 |
| BASSON, Gillian Alina | Secretary | 2021-03-29 | 2023-04-03 |
| WEBSTER, Patricia Lynne | Secretary | 2019-11-27 | 2021-03-19 |
| BURNESS PAULL LLP | Corporate Secretary | 2017-01-30 | 2019-11-13 |
| DAVIS, Kirk Lightbourn | Director | 2017-03-03 | 2018-12-10 |
| GJERSDAL, Kjetil | Director | 2022-03-29 | 2023-11-30 |
| LIEUNGH, Simen | Director | 2017-03-03 | 2022-03-29 |
| MARSONER, Thomas Wolfgang Sebastian | Director | 2018-12-10 | 2020-02-27 |
| ODFJELL, Helene | Director | 2017-03-03 | 2023-11-30 |
| SAEBO, Atle | Director | 2017-01-30 | 2017-03-03 |
| SHIACH, Alasdair Geddes | Director | 2020-03-03 | 2022-03-29 |
| STEPHEN, Diane Elizabeth Macdonald | Director | 2022-03-29 | 2023-11-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Odfjell Drilling Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-01-30 | Active |
Filing timeline
Last 20 of 113 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-15 | AA | accounts | Accounts with accounts type full | |
| 2026-02-17 | ANNOTATION | miscellaneous | Legacy | |
| 2026-02-17 | ANNOTATION | miscellaneous | Legacy | |
| 2026-02-17 | ANNOTATION | miscellaneous | Legacy | |
| 2026-01-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-07-31 | AA | accounts | Accounts with accounts type full | |
| 2025-01-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-17 | AA | accounts | Accounts with accounts type full | |
| 2024-02-02 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 17
- Capital events
- 0
- 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.