NEO NEXT + ENERGY DELTA LIMITED

• ⚠

  Material uncertainty over going concern

  The Directors do not currently have full visibility over the cash flow forecasts, funding position or future intentions of the combined group. These conditions, along with the other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

  -16.1%

  £432,618,674 → £363,138,970

• Cash

  —

  Not reported

• Net assets

  +15.2%

  £1,076,024,520 → £1,239,586,604

• Employees

  —

  Not reported

• Operating profit

  -17.4%

  £173,972,490 → £143,772,894

• Profit before tax

  -6.8%

  £200,743,066 → £187,172,759

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. NEO NEXT + ENERGY DELTA LIMITED 2026-04-02 → present
2. NEO ENERGY DELTA LIMITED 2025-08-04 → 2026-04-02
3. REPSOL DELTA LIMITED 2023-11-08 → 2025-08-04
4. REPSOL SINOPEC DELTA LIMITED 2017-10-19 → 2023-11-08

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors do not currently have full visibility over the cash flow forecasts, funding position or future intentions of the combined group. These conditions, along with the other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern.”

Significant events

• “On November 27th the Company received a Prohibition Notice from the Health and Safety Executive on the Fulmar Alpha installation in relation to concerns with deluge system performance.”
• “Management made the decision to shut down production operations at Montrose and Bleo Holm facilities due to systems falling short of performance standards.”
• “On 27 March 2025 Repsol E&P and NEO Energy Group Limited ("NEO UK") announced an agreement to consolidate their UK North Sea upstream businesses through a share-for-share combination.”
• “The group performed a review of its onshore operating model and identified changes necessary to ensure efficient, sustainable operations into the future. A collective consultation for the onshore team started on 19 April 2024 leading to up to 64 redundancies.”

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

Filings

19

last 12 months

Capital events

0

last 24 months

Officers appointed

5

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.