ODFJELL DRILLING SHETLAND LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-03-18 (in 10mo)
Last made up 2026-03-04
Watchouts
None on the register
Cash
£2M
USD 2,909,386
+999.5% vs 2023
Net assets
£374M
USD 500,242,123
-5.9% vs 2023
Employees
—
Average over period
Profit before tax
£31M
USD 40,900,895
+4.1% vs 2023
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 | £62,402,822 | £62,170,499 | |
| Operating profit | £30,907,308 | £30,465,492 | |
| Profit before tax | £29,357,863 | £30,575,536 | |
| Net profit | £30,104,360 | £28,186,996 | |
| Cash | £197,803 | £2,174,917 | |
| Total assets less current liabilities | £400,066,653 | £375,972,290 | |
| Net assets | £397,574,812 | £373,956,883 | |
| Equity | £397,574,812 | £373,956,883 | |
| Average employees | — | — | |
| Wages | — | — | |
| Directors' remuneration | £0 | £0 |
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
-0.4%
£62,402,822 £62,170,499
-
Cash
+999.5%
£197,803 £2,174,917
-
Net assets
-5.9%
£397,574,812 £373,956,883
-
Employees
—
Not reported
-
Operating profit
-1.4%
£30,907,308 £30,465,492
-
Profit before tax
+4.1%
£29,357,863 £30,575,536
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 | 49.5% | 49.0% | |
| Net margin | 48.2% | 45.3% | |
| Return on capital employed | 7.7% | 8.1% | |
| Gearing (liabilities / total assets) | 1.3% | 3.1% | |
| Current ratio | 8.24x | 1.56x | |
| Interest cover | 19.17x | 182428.10x |
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 2 times since incorporation
- ODFJELL DRILLING SHETLAND LTD 2011-12-15 → present
- ODFJELL DRILLING CASPIAN LIMITED 2010-01-05 → 2011-12-15
- PACIFIC SHELF 1598 LIMITED 2009-11-23 → 2010-01-05
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Crowe U.K. LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Notwithstanding net current assets of $8M as of 31 December 2024 and a profit for the year then ended of $39M, the financial statements have been prepared on a going concern basis. The directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 21 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ASKVIK, Erik | Director | 2023-11-30 | Apr 1962 | Norwegian |
| CARBONE, John | Director | 2023-11-30 | Nov 1975 | Maltese |
| HARALDSEN, Øivind | Director | 2023-11-30 | Mar 1960 | Norwegian |
Show 21 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ARTHUR, Heather | Secretary | 2023-04-03 | 2023-06-27 |
| BASSON, Gillian | Secretary | 2023-06-27 | 2023-11-30 |
| BASSON, Gillian Alina | Secretary | 2021-03-29 | 2023-04-03 |
| WEBSTER, Patricia Lynne | Secretary | 2019-11-27 | 2021-03-19 |
| BURNESS PAULL LLP | Corporate Secretary | 2013-04-12 | 2019-11-13 |
| MD SECRETARIES LIMITED | Corporate Secretary | 2009-11-23 | 2010-07-26 |
| PAULL & WILLIAMSONS LLP | Corporate Secretary | 2010-07-26 | 2013-04-12 |
| BRYCE, Jon Oliver Sinclair | Director | 2009-12-30 | 2010-06-01 |
| CONNON, Roger Gordon | Director | 2009-11-23 | 2009-12-30 |
| DAVIS, Kirk Lightbourn | Director | 2017-03-03 | 2018-12-10 |
| GJERSDAL, Kjetil | Director | 2022-03-29 | 2023-11-30 |
| GJERSDAL, Kjetil | Director | 2016-01-15 | 2017-03-03 |
| LIEUNGH, Simen | Director | 2010-10-25 | 2022-03-29 |
| LOGAN, Robert Bruce | Director | 2010-06-16 | 2013-01-03 |
| MANN, Lesley | Director | 2013-02-20 | 2017-03-03 |
| MARSONER, Thomas Wolfgang Sebastian | Director | 2018-12-10 | 2020-02-27 |
| ODFJELL, Helene | Director | 2017-03-03 | 2023-11-30 |
| RUTHERFORD, John Arthur Thomas | Director | 2009-11-23 | 2009-12-30 |
| SHIACH, Alasdair Geddes | Director | 2020-03-03 | 2022-03-29 |
| SOLTVEIT, Roald Egil | Director | 2010-06-16 | 2016-01-15 |
| STEPHEN, Diane Elizabeth Macdonald | Director | 2022-03-29 | 2023-11-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Odfjell Drilling Ltd. | Corporate entity | Shares 25–50%, Voting 25–50%, Appoints directors | 2017-12-01 | Active |
Filing timeline
Last 20 of 137 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-08-05 | AA | accounts | Accounts with accounts type full | |
| 2025-03-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-13 | AA | accounts | Accounts with accounts type full | |
| 2024-03-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-03 | AD01 | address | Change registered office address company with date old address new address |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 16
- 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.