PROJECT POSEIDON TOPCO LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-04 (in 6mo)
Last made up 2025-10-21
Watchouts
None on the register
Cash
£2M
+165.3% vs 2023
Net assets
£54M
+20,012.2% highest in 3 filed years
Employees
108
+12.5% vs 2023
Profit before tax
£10M
+109.9% vs 2023
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · latest reflected 2024-12-31
| Metric | Trend | 2021-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Turnover | — | £34,082,057 | £47,479,191 | |
| Operating profit | — | £10,349,321 | £15,080,246 | |
| Profit before tax | — | £4,936,823 | £10,360,111 | |
| Net profit | — | £1,966,963 | £5,975,325 | |
| Cash | — | £867,646 | £2,301,470 | |
| Total assets less current liabilities | — | £45,278,324 | £53,559,911 | |
| Net assets | £0 | -£268,980 | £53,559,911 | |
| Equity | £0 | -£268,980 | £53,559,911 | |
| Average employees | — | 96 | 108 | |
| Wages | — | £5,839,374 | £6,911,499 | |
| Directors' remuneration | — | £695,075 | £804,850 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+39.3%
£34,082,057 £47,479,191
-
Cash
+165.3%
£867,646 £2,301,470
-
Net assets
+20,012.2%
-£268,980 £53,559,911
highest in 3 filed years
-
Employees
+12.5%
96 108
-
Operating profit
+45.7%
£10,349,321 £15,080,246
-
Profit before tax
+109.9%
£4,936,823 £10,360,111
-
Wages
+18.4%
£5,839,374 £6,911,499
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 | 2021-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Operating margin | — | 30.4% | 31.8% | |
| Net margin | — | 5.8% | 12.6% | |
| Return on capital employed | — | 22.9% | 28.2% | |
| Gearing (liabilities / total assets) | — | 100.4% | 24.8% | |
| Current ratio | — | 0.79x | 1.09x | |
| Interest cover | — | 1.91x | 3.13x |
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
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors, having made due and careful enquiry, are of the opinion that the Group has adequate working capital and investment funding to execute its operations over the Going Concern period to 30 June 2026. The business has prepared detailed financial projections and has funding in place for the Going Concern period.”
Group structure
- PROJECT POSEIDON TOPCO LIMITED · parent
- Project Poseidon Midco Limited 100%
- Project Poseidon Bidco Limited 100%
- Subsea Technology & Rentals Limited 100%
- Subsea Technology & Rentals Australia Pty Ltd 100%
- STR Asia Pacific PTE Ltd 100%
- Subsea Technology & Rentals Inc 100%
- Subsea Technology & Rentals Norway AS 100%
Significant events
- “On 6th December 2024 Star Neptune Bidco Limited acquired 100% of the share capital of Project Poseidon Topco Limited. Star Neptune Topco Limited has been the ultimate parent entity since 6th December 2024.”
- “During 2024 the STR Group secured a new investor to support future geographic and complementary service and product expansion opportunities. The STR Group has initiated a New Product Development plan and during 2025, the first new product, the SeaCast, has achieved commercialization status.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BANNERMAN, Stuart Charles | Director | 2024-12-06 | Dec 1962 | British |
| STEELE, Stephen Samuel James | Director | 2022-01-14 | Sep 1973 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BENFIELD, James Oliver | Director | 2021-10-22 | 2024-12-06 |
| DYER, Andy | Director | 2022-01-14 | 2024-03-15 |
| JOHNSTONE, Scott Ewan Lincon | Director | 2022-01-14 | 2023-12-31 |
| MATTHEWS, Charles Lewis | Director | 2022-01-14 | 2024-12-06 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Star Neptune Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-12-06 | Active |
Filing timeline
Last 20 of 31 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-01-22 MA Memorandum articles
- 2025-01-22 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-04 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-09 | AA | accounts | Accounts with accounts type group | |
| 2025-02-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-01-22 | MA | incorporation | Memorandum articles | |
| 2025-01-22 | RESOLUTIONS | resolution | Resolution | |
| 2025-01-21 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-01-21 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2025-01-09 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-09 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-09 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-11 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-09-30 | AA | accounts | Accounts with accounts type group | |
| 2024-03-25 | TM01 | officers | Termination director company with name termination date | |
| 2024-01-03 | TM01 | officers | Termination director company with name termination date | |
| 2023-11-21 | SH01 | capital | Capital allotment shares | |
| 2023-10-31 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-11 | AA | accounts | Accounts with accounts type group | |
| 2022-11-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-11-07 | AA | accounts | Accounts with accounts type dormant | |
| 2022-02-04 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- 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.