ITHACA ENERGY (UK) LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

• Turnover

  -77%

  £614,726,022 → £141,537,714

• Cash

  -28.3%

  £114,053,226 → £81,733,573

• Net assets

  +233.2%

  -£506,123,944 → £673,965,762

• Employees

  +6.8%

  592 → 632

• Operating profit

  -612.8%

  £256,914,854 → -£1,317,447,858

• Profit before tax

  +306%

  £205,682,889 → £835,121,477

• Wages

  +6.2%

  £63,956,792 → £67,892,652

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

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.

1. ITHACA ENERGY (UK) LIMITED 2004-09-23 → present
2. LEDGE 816 LIMITED 2004-08-16 → 2004-09-23

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Based on their assessment of the Group's financial position to the period 31 December 2026, the Company's Directors believe that the Group will be able to continue in operational existence and provide any necessary financial support to the Company for the 12 months from the date of signing. Accordingly, they continue to adopt the going concern basis of accounting in preparing the Company's financial statements.”

Group structure

1. ITHACA ENERGY (UK) LIMITED · parent
   1. Ithaca Minerals (North Sea) Limited 100% · Scotland
   2. Ithaca GSA Holdings Limited 100% · Jersey
   3. Ithaca MA Limited 100% · England & Wales
   4. Ithaca Oil & Gas Limited 100% · England & Wales
   5. Ithaca Zeta Limited 100% · England & Wales
   6. Ithaca SP (Holdings) Limited 100% · England & Wales

Significant events

• “On 29 January 2025, the Group announced a reorganisation and streamlining of the organisational structure for onshore staff which completed in 1H 2025.”
• “On 7 July, the Company acquired Japex E&P UK increasing the Group's equity in the Seagull field from 35% to 40%.”
• “On 18 June 2025, the Cambo licence was extended by 18 months from 31 March 2026 to 30 September 2027, confirming the regulator's trust in the Group's ability to continue progressing the project towards the licence milestones.”
• “On 18 November 2025, the Company signed a farm-in agreement with Shell UK for a 50% working interest in licences P2629 and P2630, located in the West of Shetland basin, containing the Tobermory gas discovery.”

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

Filings

7

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.