ARCHER (UK) LIMITED
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Cash
£861K
-72.6% lowest in 3 filed years
Net assets
£14M
-60% lowest in 3 filed years
Employees
488
+3% highest in 3 filed years
Profit before tax
-£1M
-106.4% lowest in 3 filed years
Net assets
3-year trend · vs Energy median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £114,783,289 | £131,530,523 | £126,172,442 | -4.1% | |
| Operating profit | £4,704,831 | £13,199,520 | £183,767 | -98.6% | |
| Profit before tax | £4,951,139 | £15,999,396 | -£1,023,511 | -106.4% | |
| Net profit | £3,466,743 | £11,508,757 | -£1,607,535 | -114% | |
| Cash | £5,720,788 | £3,138,414 | £861,151 | -72.6% | |
| Total assets less current liabilities | £25,875,923 | £36,937,197 | £17,417,734 | -52.8% | |
| Net assets | £22,965,031 | £34,354,845 | £13,737,734 | -60% | |
| Equity | £22,965,031 | £34,354,845 | £13,737,734 | -60% | |
| Average employees | 461 | 474 | 488 | +3% | |
| Wages | £31,851,869 | £35,393,433 | £37,529,922 | +6% | |
| Directors' remuneration | £290,123 | £355,721 | £401,475 | +12.9% |
Values shown as filed in the company's annual accounts. — 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 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 4.1% | 10.0% | 0.1% | |
| Net margin | 3.0% | 8.7% | -1.3% | |
| Return on capital employed | 18.2% | 35.7% | 1.1% | |
| Gearing (liabilities / total assets) | 70.3% | 68.1% | — | |
| Current ratio | 1.37x | 1.43x | 1.18x | |
| Interest cover | — | 53.00x | 0.14x |
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.
Name history
Renamed 4 times since incorporation
- ARCHER (UK) LIMITED 2011-04-01 → present
- SEAWELL LIMITED 2007-10-16 → 2011-04-01
- SEADRILL LIMITED 2006-06-01 → 2007-10-16
- SMEDVIG DRILLING LIMITED 2002-04-18 → 2006-06-01
- BALERISE LIMITED 2002-03-18 → 2002-04-18
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company meets its day to day working capital requirements through cash flows from its operations. The Company's forecasts and projections, taking account of reasonably possibly changes in trading performance, show that the Company should be able to operate within the level of its current facilities. The directors of the Group successfully renegotiated the refinancing for the Group effective 6th February 2025, and consequently the directors of the Company have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.”
Group structure
- ARCHER (UK) LIMITED · parent
- Archer Elemental UK Ltd 60%
Significant events
- “During 2025, the Company's turnover decreased to £126.2m (2024: £131.5m). The majority of this reduction related to activity in the Coiled Tubing and Oiltools segments of the Well Services Division. Revenue in the Coiled Tubing Division reduced in the second half of the year as key clients reduced activity in the UK sector of the North Sea. Activity in Africa for the Oiltools Division reduced in 2025, as well as a deferral of work in the UK originally planned for 2025, into 2026.”
- “Operating profit reduced from £13.2m in 2024 to £0.1m in 2025.”
- “A large project in the Engineering Division which had been ongoing for approximately 2 years came to an end in early 2025...”
- “...demobilisation phase of the contract for the Archer Topaz MDR in the third quarter of 2025.”
- “During 2025 the company placed an order for a new workover rig. The purchase price is $6.2m with payments in instalments throughout 2026 (2024: £nil).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 14 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BURNESS PAULL LLP | Corporate Secretary | 2013-01-15 | — | — |
| DEY, Kenneth David | Director | 2012-09-19 | May 1959 | British |
| JORANGER, Espen | Director | 2016-05-01 | Dec 1977 | Norwegian |
| TODD, Adam Mark Alexander | Director | 2018-05-11 | Jul 1977 | Canadian |
Show 14 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| P & W SECRETARIES LIMITED | Corporate Nominee Secretary | 2002-03-18 | 2002-04-19 |
| PAULL & WILLIAMSONS | Corporate Secretary | 2002-04-19 | 2009-04-06 |
| PAULL & WILLIAMSONS LLP | Corporate Secretary | 2009-04-06 | 2013-01-15 |
| BAUSCH, Hans-Christoph | Director | 2012-09-19 | 2016-05-01 |
| BETHUELSEN, Lars | Director | 2008-04-01 | 2012-09-19 |
| BOUTHILLETTE, Maxime Louis | Director | 2012-09-19 | 2017-07-19 |
| BRICE, Robin | Director | 2017-07-19 | 2018-05-11 |
| HOLMAN, Gary | Director | 2011-01-14 | 2012-07-09 |
| IDSOE, Hugo | Director | 2016-06-22 | 2023-08-15 |
| LOVDAL, Alf Ragnar | Director | 2008-04-01 | 2009-09-01 |
| OSTHUS, Jon Olav | Director | 2002-04-19 | 2008-04-01 |
| RAE, Steven | Director | 2009-09-01 | 2012-09-19 |
| THORKILDSEN, Alf Christian | Director | 2002-04-19 | 2008-04-01 |
| P & W DIRECTORS LIMITED | Corporate Nominee Director | 2002-03-18 | 2002-04-19 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Danske Bank A/S As Agent For Various Finance Parties Pursuant To A Shares Security Granted By Archer Assets Uk Limited Created On 25 November 2010 | Corporate entity | Shares 75–100% | 2016-04-06 | Ceased 2023-04-25 |
| Archer Assets Uk Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 117 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-04-13 MA Memorandum articles
- 2023-04-13 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-23 | AA | accounts | Accounts with accounts type full | |
| 2026-03-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-07 | AA | accounts | Accounts with accounts type full | |
| 2025-03-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-05 | AA | accounts | Accounts with accounts type full | |
| 2024-03-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-11-03 | CH01 | officers | Change person director company with change date | |
| 2023-08-28 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-21 | AA | accounts | Accounts with accounts type full | |
| 2023-07-10 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-05-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-05-03 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-04-26 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-04-26 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-04-13 | MA | incorporation | Memorandum articles | |
| 2023-04-13 | RESOLUTIONS | resolution | Resolution | |
| 2023-04-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-11 | AA | accounts | Accounts with accounts type full | |
| 2022-03-31 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-21 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- 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.