BALAENA ALPHA LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  +649,725,000%

  £1 → £6,497,251

  highest in 5 filed years

• Employees

  —

  Not reported

• Operating profit

  -100%

  £8,125,013 → -£2,750

• Profit before tax

  +49,978,746.2%

  £13 → £6,497,250

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

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. BALAENA ALPHA LIMITED 2022-01-06 → present
2. BALAENA OPERATIONS LTD 2021-01-18 → 2022-01-06

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton (NI) LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The financial statements have been prepared on a going concern basis. The ultimate parent of the Company has provided a letter of support which undertakes to provide the financial support recessary in order to enable the Company to meet their financial liabilities as they fall due for a period of a year from the date of approval of the financial statements.”

Group structure

1. BALAENA ALPHA LIMITED · parent
   1. Balaena Bravo Limited 100% · England · Holding Company
   2. Balaena Delta Limited 100% · Gibraltar · Holding company
   3. Balaena PropCo Limited 100% · Gibraltar · Holding company
   4. Gibdock Limited 100% · Gibraltar · Ship repair and conversion

Significant events

• “During the year, the Company wrote off intercompany loan balances amounting to £6.5 million previously payable to Balaena Delta Limited, as the amounts are no longer considered payable.”
• “On 24 May 2022, the Company and Balaena Bravo Limited entered into a loan agreement with Cheyne European Strategic Value Credit Fund II for £34,800,000 (including Junior Loan Notes of £6,500,000), guaranteed by related parties. In May 2024, the loan was repaid with a redemption premium of £8,125,000 via a £48,000,000 refinancing by Balaena PropCo Limited. During the year, the related amount of £6,500,000 was written off by the creditor and the liability has been derecognised. Accordingly, the amount has been removed from creditors.”

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

Filings

2

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.