CRONDALL ENERGY HOLDINGS LTD

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

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.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

PKF Francis Clark

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 Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. CRONDALL ENERGY HOLDINGS LTD · parent
   1. Crondall Energy Ltd 100% · UK · consultancy to the offshore energy sector
   2. Crondall Energy Consultants Ltd 100% · UK · consultancy to the offshore energy sector
   3. Crondall Energy Subsea Ltd 100% · UK · consultancy to the offshore energy sector
   4. Crondall Energy Consultants PTE Ltd 100% · Singapore · consultancy to the offshore energy sector
   5. Crondall Energy Consultants Inc 100% · USA · consultancy to the offshore energy sector
   6. Crondall Energy Consultants AS 100% · Norway · consultancy to the offshore energy sector
   7. Buoyant Production Technologies Limited 100% · UK · consultancy to the offshore energy sector

Significant events

• “The Company was incorporated on 9 January 2024 and acquired Crondall Energy Limited and its subsidiaries as part of a management buyout on 28 March 2024.”
• “The acquisition of Crondall Energy Limited was funded in part by two loan facilities taken out with ThinCats, totalling £2 million.”
• “During the period the oil and gas market in the UK North Sea continued to see reduced capital spend as economic and fiscal uncertainty prevailed, against the backdrop of a change in UK government, which reduced investor confidence.”
• “During the period, BPT has received full funding from Petronas Research SDN BHD to build and test a demonstrator scale model of the technology, to prove its readiness for use in offshore energy projects.”
• “The demonstrator was installed offshore Falmouth during July, where it will remain for 3 months of testing.”
• “The research and development effort and cost involved in getting the project to this stage has contributed to an R&D tax credit of £227,739 being recognised in the income statement during the year.”
• “The group has long-term bank loans with floating interest rates, which exposes it to fluctuations in market interest rates. A significant rise in rates could increase borrowing costs and adversely affect profitability and cash flow.”
• “The group is also exposed to credit risk, primarily in relation to trade receivables from clients.”
• “A significant proportion of revenue may be derived from a limited number of clients or large-scale projects.”

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

Filings

3

last 12 months

Capital events

2

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.