DEEP SEA ATLANTIC (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

  +18.4%

  £47,818,597 → £56,601,534

• Cash

  -78.4%

  £12,663,961 → £2,733,864

• Net assets

  +3.7%

  £266,445,366 → £276,276,135

• Employees

  —

  Not reported

• Operating profit

  +24.1%

  £9,943,490 → £12,343,904

• Profit before tax

  +23.8%

  £10,138,571 → £12,555,277

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 ATLANTIC (UK) LTD 2017-02-03 → present
2. NEWCO DSA (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 liabilities of $42M as of 31 December 2024 and a profit for the year then ended of $16M, the financial statements have been prepared on a going concern basis which the directors consider to be appropriate for the following reasons. 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.”

Significant events

• “In 2024, Deepsea Atlantic operated on the Johan Sverdrup phase 2 development under the Master Frame Agreement with Equinor until July. The rig completed the 5-year Special Periodic Survey (SPS) in July/August with net idle time of 19 days. After the SPS the rig continued on the Equinor contract. The rig was working on 17 different wells during the year and achieved a financial uptime of 98.1%.”
• “Deepsea Atlantic is expected to work on the extended Johan Sverdrup phase 2 contract until May 2025. The rig will then start operating under the recently announced amended Equinor contract until further notice on the Norwegian sector of the North Sea due to the delay of the Rosebank project in the UK sector.”
• “Deep Sea Atlantic (UK) Ltd has a dormant branch in the United Arab Emirates (UAE) which is being liquidated during 2025, and there has been no activity during 2024.”
• “1 December 2023 the rig owning subsidiaries together with their immediate parent companies completed a tax relocation from the United Kingdom to Malta. Later in December 2023 the mobile offshore rigs were transferred from the Dubai branches to the Malta taxable companies.”

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

Filings

16

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.