NEO NEXT+ ENERGY UPSTREAM UK LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-02-25 (in 9mo)
Last made up 2026-02-11
Watchouts
Cash
—
Latest balance sheet
Net assets
£2B
USD 2,220,663,000
+25,628.9% vs 2023
Employees
208
-1.4% vs 2023
Profit before tax
£269M
USD 360,062,000
+95.8% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £185,393 | £1,166,928 | |
| Operating profit | -£73,283,247 | -£11,483,143 | |
| Profit before tax | £137,448,606 | £269,164,985 | |
| Net profit | £136,148,613 | £268,919,040 | |
| Cash | — | — | |
| Total assets less current liabilities | £1,420,389,474 | £1,660,060,552 | |
| Net assets | £6,452,119 | — | |
| Equity | £6,452,119 | £264,970,472 | |
| Average employees | 211 | 208 | |
| Wages | £27,790,237 | £26,703,297 | |
| Directors' remuneration | £3,506,765 | £2,822,008 |
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
+529.4%
£185,393 £1,166,928
-
Cash
—
Not reported
-
Net assets
—
Not reported
-
Employees
-1.4%
211 208
-
Operating profit
+84.3%
-£73,283,247 -£11,483,143
-
Profit before tax
+95.8%
£137,448,606 £269,164,985
-
Wages
-3.9%
£27,790,237 £26,703,297
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -39528.6% | -984.0% | |
| Net margin | 73437.8% | 23045.0% | |
| Return on capital employed | -5.2% | -0.7% | |
| Gearing (liabilities / total assets) | 99.8% | — | |
| Interest cover | -0.47x | -0.08x |
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 5 times since incorporation — the current trading name was adopted 2026-03-31
- NEO NEXT+ ENERGY UPSTREAM UK LIMITED 2026-03-31 → present
- NEO ENERGY UPSTREAM UK LIMITED 2019-11-19 → 2026-03-31
- VERUS PETROLEUM UK LIMITED 2014-09-23 → 2019-11-19
- BRIDGE ENERGY UK LIMITED 2010-06-01 → 2014-09-23
- SILVERSTONE ENERGY LIMITED 2005-02-25 → 2010-06-01
- ASHLINN LIMITED 2005-02-11 → 2005-02-25
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company is part of the NEO Energy Group Limited (the "Group") and has net current liabilities of $1,090 8 million as at 31 December 2024 (2023 net current liabilities $1,369 1 million), which includes net intercompany balances of $1,434 2 million (2023 $2,215 3 million) due to NEO Energy Group subsidiaries. As such it is reliant on continued financial support. The directors have received a letter of support confirming that NEO Energy Consolidated Holdings Limited, the Company's immediate parent, will provide or procure sufficient funds as necessary to allow the Company to continue its operations for at least 12 months after these financial statements are signed.”
Group structure
- NEO NEXT+ ENERGY UPSTREAM UK LIMITED · parent
- NEO Energy (CNS) Limited 1%
- NEO Energy (Exploration) Limited 1%
- NEO Energy Oil & Gas Limited (dissolved in 2025) 1%
- NEO Energy (SNS) Limited 1%
- NEO Energy (Production) Limited 1%
- NEO Energy Enterprises Limited (dissolved in 2025) 1%
- NEO Energy Enterprises (North Sea) Limited (dissolved 2024) 1%
- NEO Energy (North Sea) Limited (dissolved 2024) 1%
- NEO Energy (UKCS) Limited 1%
- NEO Energy Production UK Limited 1%
- NEO Energy (ZNS) Limited (dissolved 2025) 1%
- NEO Energy Pathway Limited 1%
- NEO Energy (ZNI) Limited 1%
- NEO Energy (ZEX) Limited 1%
- NEO Energy (ZEL) Limited 1%
- NEO Energy (ZPL) Limited 1%
- NEO Energy Central North Sea Limited 1%
- NEO Energy (ZOG) Limited (dissolved 2025) 1%
- NEO Energy Natural Resources Limited 1%
- NEO Energy Petroleum Limited 1%
- NEO Energy (GBA) Limited 1%
Significant events
- “On 27 March 2025, NEO Energy Group Limited (the immediate parent company of the Company) announced that it would combine with Repsol SA 's UK North Sea upstream business in a share for share transaction. On completion, NEO will be owned 55% by funds managed by HitecVision and 45% by Repsol SA. Completion of the transaction is subject to customary regulatory approvals and is expected in Q3 of 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 45 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MCINTOSH, Andrew Graham | Secretary | 2025-07-29 | — | — |
| BURNESS PAULL LLP | Corporate Secretary | 2013-01-14 | — | — |
| GAIR, Robert Huw | Director | 2023-01-20 | Oct 1980 | British |
| MCINTOSH, Andrew Graham | Director | 2020-07-03 | Jul 1973 | British |
| PAYER, Nicolas Bertrand | Director | 2026-03-30 | Sep 1965 | French |
| RIGARDO, Ferdinando | Director | 2025-07-29 | Feb 1965 | Italian |
Show 45 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MCINTOSH, Andrew Graham | Secretary | 2015-04-14 | 2024-09-02 |
| PRESLY, Victoria Katie | Secretary | 2024-09-02 | 2025-07-29 |
| P & W SECRETARIES LIMITED | Corporate Nominee Secretary | 2005-02-11 | 2005-02-22 |
| PAULL & WILLIAMSONS | Corporate Secretary | 2005-02-22 | 2009-04-06 |
| PAULL & WILLIAMSONS LLP | Corporate Secretary | 2009-04-06 | 2013-01-14 |
| ADAMS, Robert Stephen | Director | 2020-07-03 | 2023-01-20 |
| ALTON, Russell Alexander | Director | 2020-09-01 | 2023-01-20 |
| BACHMANN, Martin | Director | 2019-09-30 | 2020-10-07 |
| BANDLIEN, Einar Hans | Director | 2010-04-27 | 2012-04-30 |
| BEGBIE, Roderick Mcintosh | Director | 2014-10-01 | 2015-06-26 |
| BRISTER, Matthew | Director | 2005-04-29 | 2010-04-27 |
| BRUNTON, James | Director | 2009-06-10 | 2013-11-30 |
| COOK, Robert | Director | 2007-05-30 | 2009-06-10 |
| CURRAN, Alan Thomas | Director | 2014-12-18 | 2019-09-30 |
| DURWARD, Craig | Director | 2013-12-03 | 2014-02-26 |
| EDWARDS, Ernest Joseph | Director | 2010-04-27 | 2013-12-04 |
| ERTVAAG, Ole | Director | 2017-06-14 | 2020-07-03 |
| GAIR, David John | Director | 2018-05-16 | 2020-07-03 |
| GAMBLIN, Nigel | Director | 2013-12-03 | 2014-02-25 |
| GJELSVIK, Einar | Director | 2019-09-30 | 2020-10-07 |
| GJELSVIK, Einar | Director | 2014-03-20 | 2019-01-18 |
| HALVORSEN, Gunnar | Director | 2014-04-14 | 2019-09-30 |
| HALVORSEN, Gunnar | Director | 2014-03-20 | 2014-04-14 |
| HARRIS, Paul | Director | 2020-09-01 | 2024-10-11 |
| HIDE, Hans Olav | Director | 2015-04-14 | 2015-06-26 |
| HOOKE, Nicholas John | Director | 2019-09-30 | 2020-07-03 |
| HORTON, Stephen Thomas | Director | 2006-02-23 | 2008-12-23 |
| KNIGHT, John Nicholas | Director | 2019-01-18 | 2020-07-03 |
| MANZI, Catriona Evelyn | Director | 2024-09-02 | 2025-07-29 |
| MCKENZIE, Craig | Director | 2024-10-22 | 2025-07-29 |
| MCMANUS, David | Director | 2018-05-16 | 2019-09-30 |
| MUNRO, Simon | Director | 2005-02-22 | 2010-04-27 |
| NICOL, Peter William | Director | 2014-02-26 | 2015-06-21 |
| OLSEN, Pål Reiulf | Director | 2014-04-14 | 2014-10-01 |
| PERVIS, Kevin, Dr | Director | 2013-04-06 | 2014-03-18 |
| REED, Pal Magnus | Director | 2017-06-14 | 2020-07-03 |
| REYNOLDS, Thomas Hamilton | Director | 2011-03-16 | 2013-11-28 |
| REYNOLDS, Thomas Hamilton | Director | 2009-06-10 | 2010-04-27 |
| ROSS, Hamish Hector Lawrence | Director | 2005-02-22 | 2005-04-29 |
| ROWE, Martin James | Director | 2021-08-26 | 2024-10-11 |
| SHEIKH, Adam Alum | Director | 2025-07-29 | 2026-03-30 |
| THOMS, Malcolm Shaw | Director | 2013-12-03 | 2015-06-21 |
| VABO, Harald | Director | 2014-03-20 | 2014-04-14 |
| WHYATT, Michael | Director | 2015-04-14 | 2019-09-30 |
| P & W DIRECTORS LIMITED | Corporate Nominee Director | 2005-02-11 | 2005-02-22 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Neo Next+ Energy Consolidated Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-04-24 | Active |
| Bnp Paribas Sa | Corporate entity | Shares 75–100% | 2020-07-23 | Ceased 2025-06-11 |
| Ranelagh Nominees Limited | Corporate entity | Shares 75–100% | 2018-11-19 | Ceased 2020-07-23 |
| Neo Energy Group Limited | Corporate entity | Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2024-04-24 |
Filing timeline
Last 20 of 289 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-31 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-07 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-02 | AP01 | officers | Appoint person director company with name date | |
| 2026-04-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-01 | SH01 | capital | Capital allotment shares | |
| 2026-04-01 | MR05 | mortgage | Mortgage charge whole release with charge number | |
| 2026-04-01 | MR05 | mortgage | Mortgage charge whole release with charge number | |
| 2026-03-31 | CERTNM | change-of-name | Certificate change of name company | |
| 2026-03-30 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-02-24 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-02-24 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-10-10 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-04 | AA | accounts | Accounts with accounts type full | |
| 2025-08-28 | CH01 | officers | Change person director company with change date | |
| 2025-08-05 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-05 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-05 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-05 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-08-05 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-05 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-07-17 | PSC05 | persons-with-significant-control | Change to a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 1
- Officers appointed
- 3
- Officers resigned
- 4
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.