GENEL ENERGY SARTA LIMITED
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Cash
£359K
USD 477,000
-72.5% vs 2023
Net assets
-£123M
USD -163,081,000
+0.6% vs 2023
Employees
0
Average over period
Profit before tax
£721K
USD 959,000
+102.9% vs 2023
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £2,716,680 | — | — | |
| Operating profit | -£24,429,076 | £720,890 | +103% | |
| Profit before tax | -£24,684,658 | £720,890 | +102.9% | |
| Net profit | -£24,684,658 | £720,890 | +102.9% | |
| Cash | £1,305,721 | £358,566 | -72.5% | |
| Total assets less current liabilities | -£123,312,035 | -£122,589,641 | +0.6% | |
| Net assets | -£123,312,035 | -£122,589,641 | +0.6% | |
| Equity | — | — | — | |
| Average employees | 0 | 0 | — | |
| Wages | — | — | — | |
| Directors' remuneration | £0 | £0 | — |
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 |
|---|---|---|---|
| Gearing (liabilities / total assets) | 1725.9% | 25228.0% | |
| Current ratio | 0.03x | 0.00x | |
| Interest cover | -95.58x | — |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- GENEL ENERGY SARTA LIMITED 2019-01-28 → present
- GENEL ENERGY NO.3 LIMITED 2018-11-20 → 2019-01-28
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors believe that preparing the financial statements on a going concern basis is appropriate due to the continued financial support of the ultimate parent company Genel Energy plc. The Company is dependent on financial support from Genel Energy plc as it is not currently generating funds of its own and it is in a net liability position. In this respect, the confirmation has been obtained from Genel Energy plc that intends to support the Company for at least 12 months following the signing of the annual report for the year ended 31 December 2024. The Directors have assessed that the Genel Energy plc group's (the "Group") forecasted liquidity provides adequate headroom over the forecast expenditure, ability to service the interest and comply with the bond covenants.”
Significant events
- “A Settlement, Relinquishment, and Termination Agreement ('RTA') between the Kurdistan Regional Government of Iraq ('KRG'), Genel Energy Sarta Ltd. and Chevron Iraq (Sarta) Ltd. (together 'Contractors') was signed on 20 April 2025. As per the agreement, the KRG released the Contractors from all liabilities owed to the KRG and the Contractors released the KRG from all liabilities owed to the Contractors. This has provided additional evidence regarding the collectability and settlement of the balances existing as at reporting date therefore identified as an adjusting event under IAS 10 and all relevant balances have been adjusted in the relevant notes.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KARANIA, Chandni | Secretary | 2018-11-20 | — | — |
| ADAMS, Michael John | Director | 2018-11-20 | Sep 1967 | British |
| CLEMENTS, Luke Nicholas | Director | 2022-07-12 | Apr 1978 | British |
| WEIR, John Paul | Director | 2020-02-04 | Oct 1960 | British |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HIGGS, William George, Dr | Director | 2018-11-20 | 2020-02-04 |
| IKAHEIMONEN, Esa Tapani | Director | 2018-11-20 | 2022-03-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Genel Energy Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-11-20 | Active |
Filing timeline
Last 20 of 25 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-12 | AA | accounts | Accounts with accounts type full | |
| 2024-11-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-19 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-07-11 | AA | accounts | Accounts with accounts type full | |
| 2024-05-30 | CH01 | officers | Change person director company with change date | |
| 2023-11-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-20 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-09-05 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-08-08 | AA | accounts | Accounts with accounts type full | |
| 2022-11-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-19 | AA | accounts | Accounts with accounts type full | |
| 2022-07-14 | AP01 | officers | Appoint person director company with name date | |
| 2022-03-16 | TM01 | officers | Termination director company with name termination date | |
| 2021-11-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-23 | AA | accounts | Accounts with accounts type full | |
| 2021-01-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-09-09 | AA | accounts | Accounts with accounts type full | |
| 2020-02-13 | AP01 | officers | Appoint person director company with name date | |
| 2020-02-13 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 1
- 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.