NORSE ATLANTIC UK LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-05-23 (this month)
Last made up 2025-05-09
Watchouts
Cash
£1M
USD 1,918,000
-75.7% lowest in 4 filed years
Net assets
-£72M
USD -96,839,000
-116.3% lowest in 4 filed years
Employees
—
Average over period
Profit before tax
-£39M
USD -52,115,000
+17.1% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
In the Board of Directors' opinion, the going concern assumption is present and applies as basis for the Company's financial statements, but under the conditions present, the going concern assumption is subject to uncertainty.
Net assets
6-year trend · vs Consumer Discretionary median
Accounts
6-year trend · latest reflected 2024-12-31
| Metric | Trend | 2021-05-09 | 2021-05-10 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | £8,051,251 | £150,190,626 | £208,669,358 | |
| Operating profit | — | — | — | — | -£36,012,559 | -£31,683,487 | |
| Profit before tax | — | — | — | — | -£46,977,648 | -£38,958,660 | |
| Net profit | — | — | -£780,843 | -£9,025,516 | -£46,977,648 | -£38,958,660 | |
| Cash | — | — | £3,265,654 | £24,998,454 | £5,902,669 | £1,433,804 | |
| Total assets less current liabilities | — | — | — | — | £319,291,321 | £196,742,169 | |
| Net assets | — | — | £3,219,257 | £15,193,741 | -£33,464,155 | -£72,392,166 | |
| Equity | — | — | £9,657,771 | £0 | -£33,464,155 | -£72,392,166 | |
| Average employees | 0 | — | 9 | 94 | — | — | |
| Wages | — | — | £509,201 | £5,878,571 | £16,918,592 | £21,829,259 | |
| Directors' remuneration | — | — | — | — | £897,062 | £953,129 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+38.9%
£150,190,626 £208,669,358
highest in 3 filed years
-
Cash
-75.7%
£5,902,669 £1,433,804
lowest in 4 filed years
-
Net assets
-116.3%
-£33,464,155 -£72,392,166
lowest in 4 filed years
-
Employees
—
Not reported
-
Operating profit
+12%
-£36,012,559 -£31,683,487
-
Profit before tax
+17.1%
-£46,977,648 -£38,958,660
-
Wages
+29%
£16,918,592 £21,829,259
highest in 4 filed years
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2021-05-09 | 2021-05-10 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -24.0% | -15.2% | |
| Net margin | — | — | — | -112.1% | -31.3% | -18.7% | |
| Return on capital employed | — | — | — | — | -11.3% | -16.1% | |
| Gearing (liabilities / total assets) | — | — | 2.8% | 78.1% | 108.3% | 124.4% | |
| Current ratio | — | — | — | — | 0.76x | 0.45x | |
| Interest cover | — | — | — | — | -3.35x | -2.87x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Kreston Reeves LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“In the Board of Directors' opinion, the going concern assumption is present and applies as basis for the Company's financial statements, but under the conditions present, the going concern assumption is subject to uncertainty.”
Significant events
- “In December 2024, the Parent completed an equity direct private placement towards major shareholder BT Larsen & Co Limited affiliated by CEO Bjørn Tore Larsen, for new shares equal to 15% of the outstanding share capital. The issuance was done at NOK 5.00 per share, bringing in the NOK amount equivalent of USD 8.7 million. In addition, BT Larsen & Co Limited, provided Norse with a new shareholder loan of USD 6.3 million, bringing the total proceeds of new capital up into the amount of USD 15.0 million.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BOILING, Ben | Director | 2021-05-10 | Nov 1979 | British |
| JOMAAS, Anders Hall | Director | 2023-12-18 | Feb 1977 | Norwegian |
| READ, Sarah Louise Allen | Director | 2024-08-07 | Mar 1974 | British |
| THOMAS, David William | Director | 2021-10-28 | May 1971 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BORG, Maria | Director | 2021-10-12 | 2024-08-07 |
| HODGES, Andrew | Director | 2021-10-12 | 2022-10-31 |
| LARSEN, Bjorn Tore | Director | 2022-03-02 | 2023-12-22 |
| LIVINGS, Jeffrey Steven | Director | 2022-11-01 | 2023-02-07 |
| SWAIN, Sean | Director | 2023-02-07 | 2025-10-30 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 33 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-29 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-09-24 | AA | accounts | Accounts with accounts type full | |
| 2025-06-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-18 | AA | accounts | Accounts with accounts type full | |
| 2024-08-13 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-13 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-11 | AP01 | officers | Appoint person director company with name date | |
| 2024-01-10 | TM01 | officers | Termination director company with name termination date | |
| 2023-05-30 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-05-23 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-05-18 | AA | accounts | Accounts with accounts type full | |
| 2023-04-20 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-04-12 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-02-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-02-20 | AP01 | officers | Appoint person director company with name date | |
| 2023-02-17 | TM01 | officers | Termination director company with name termination date | |
| 2022-11-08 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-11-03 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
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.