NEO NEXT+ ENERGY UPSTREAM UK LIMITED
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Cash
£473m
USD 637,469,000
+29.2% vs 2024
Net assets
£32m
USD 42,850,000
-88.7% vs 2024
Employees
180
-13.5% lowest in 3 filed years
Profit before tax
£55m
USD 74,081,000
-80.8% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
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 | £194,540 | £0 | £0 | — | |
| Operating profit | -£76,899,121 | -£12,226,202 | -£174,923,933 | -1,330.7% | |
| Profit before tax | £144,230,468 | £286,582,299 | £54,976,623 | -80.8% | |
| Net profit | £142,866,332 | £286,320,439 | £54,044,527 | -81.1% | |
| Cash | — | £366,284,623 | £473,075,325 | +29.2% | |
| Total assets less current liabilities | £1,490,473,015 | £1,767,480,898 | £1,508,678,293 | -14.6% | |
| Net assets | £6,770,474 | £282,116,364 | £31,799,629 | -88.7% | |
| Equity | £6,770,474 | £282,116,364 | £31,799,629 | -88.7% | |
| Average employees | 211 | 208 | 180 | -13.5% | |
| Wages | £29,161,437 | £28,431,232 | £24,007,421 | -15.6% | |
| Directors' remuneration | £3,679,793 | £3,004,616 | £2,241,187 | -25.4% | |
| Highest paid director | £1,121,745 | £1,152,499 | £749,536 | -35% |
Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — 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 |
|---|---|---|---|---|
| Return on capital employed | -5.2% | -0.7% | -11.6% | |
| Gearing (liabilities / total assets) | 99.8% | 92.5% | 99.1% | |
| Current ratio | — | 0.57x | 0.56x | |
| Interest cover | -0.47x | -0.08x | -1.16x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. 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 directors have no reason to believe that material uncertainty exists that may cast doubt about the Company’s ability to continue as a going concern or its ability to continue with the current and planned banking arrangements.”
Group structure
- NEO NEXT+ ENERGY UPSTREAM UK LIMITED · parent
- NEO NEXT+ Energy (CNS) Limited 100%
- NEO NEXT+ Energy (Exploration) Limited 100%
- NEO NEXT+ Energy (SNS) Limited 100%
- NEO NEXT+ Energy (Production) Limited 100%
- NEO NEXT+ Energy (UKCS) Limited 100%
- NEO NEXT+ Energy PUK Limited 100%
- NEO NEXT+ Energy Pathway Limited 100%
- NEO NEXT+ Energy (ZNI) Limited 100%
- NEO NEXT+ Energy (ZEX) Limited 100%
- NEO NEXT+ Energy (ZEL) Limited 100%
- NEO NEXT+ Energy (ZPL) Limited 100%
- NEO NEXT+ Energy Central North Sea Limited 100%
- NEO NEXT+ Energy Natural Resources Limited 100%
- NEO NEXT+ Energy Petroleum Limited 100%
- NEO NEXT+ Energy GT Limited 100%
- NEO NEXT+ Energy (GBA) Limited 100%
Significant events
- “On 8 December 2025, the Group announced its intention to combine with TotalEnergies' UK offshore oil & gas production business.”
- “On 15 March 2026, the Board approved and paid a dividend of $700.0 million, at $7.0 million per share.”
- “On 30 March 2026 the Company passed a special resolution, changing its name from NEO Energy Upstream UK Limited to NEO NEXT+ Energy Upstream UK Limited.”
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 293 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-31 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-29 | AA | accounts | Accounts with accounts type full | |
| 2026-08-05 | SH01 | capital | Capital allotment shares | |
| 2026-08-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-05-25 | CH01 | officers | Change person director company with change date | |
| 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 |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 16
- Capital events
- 2
- Officers appointed
- 1
- Officers resigned
- 1
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.