WELDEX (INTERNATIONAL) OFFSHORE HOLDINGS LIMITED
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Next accounts due
2026-08-31 (in 3mo)
Last filed for 2024-11-30
Confirmation statement due
2026-07-01 (in 2mo)
Last made up 2025-06-17
Watchouts
None on the register
Cash
£2M
+52,100% highest in 4 filed years
Net assets
£37M
+0.2% vs 2023
Employees
96
-3% vs 2023
Profit before tax
£712K
-94% vs 2023
Net assets
7-year trend · vs Industrials median
Accounts
7-year trend · latest reflected 2024-11-30
| Metric | Trend | 2020-12-01 | 2021-11-30 | 2021-12-01 | 2022-11-30 | 2022-12-01 | 2023-11-30 | 2024-11-30 |
|---|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | — | £26,633,000 | £23,631,000 | |
| Operating profit | — | — | — | — | — | £16,160,000 | £3,115,000 | |
| Profit before tax | — | — | — | — | — | £11,885,000 | £712,000 | |
| Net profit | — | -£3,384,000 | — | -£3,521,000 | — | £11,751,000 | £56,000 | |
| Cash | — | £6,000 | — | £14,000 | — | £4,000 | £2,088,000 | |
| Total assets less current liabilities | — | £57,924,000 | — | £57,777,000 | — | £88,867,000 | £82,989,000 | |
| Net assets | — | -£36,693,000 | — | -£40,214,000 | — | £36,614,000 | £36,670,000 | |
| Equity | -£33,309,000 | -£36,693,000 | -£36,693,000 | -£40,214,000 | -£40,214,000 | £36,614,000 | £36,670,000 | |
| Average employees | — | 0 | — | 0 | — | 99 | 96 | |
| Wages | — | — | — | — | — | £6,282,000 | £6,303,000 | |
| Directors' remuneration | — | — | — | — | — | £639,000 | £867,000 |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-11-30 vs 2023-11-30
-
Turnover
-11.3%
£26,633,000 £23,631,000
-
Cash
+52,100%
£4,000 £2,088,000
highest in 4 filed years
-
Net assets
+0.2%
£36,614,000 £36,670,000
-
Employees
-3%
99 96
-
Operating profit
-80.7%
£16,160,000 £3,115,000
-
Profit before tax
-94%
£11,885,000 £712,000
-
Wages
+0.3%
£6,282,000 £6,303,000
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 | 2020-12-01 | 2021-11-30 | 2021-12-01 | 2022-11-30 | 2022-12-01 | 2023-11-30 | 2024-11-30 |
|---|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | — | 60.7% | 13.2% | |
| Net margin | — | — | — | — | — | 44.1% | 0.2% | |
| Return on capital employed | — | — | — | — | — | 18.2% | 3.8% | |
| Current ratio | — | — | — | — | — | 2.97x | 1.75x | |
| Interest cover | — | — | — | — | — | 3.77x | 1.26x |
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 1 time since incorporation
- WELDEX (INTERNATIONAL) OFFSHORE HOLDINGS LIMITED 2010-07-09 → present
- WELDEX OFFSHORE 123 LIMITED 2010-06-17 → 2010-07-09
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Anderson Anderson & Brown Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- WELDEX (INTERNATIONAL) OFFSHORE HOLDINGS LIMITED · parent
- Weldex (International) Offshore Limited 100%
Significant events
- “On 24th April 2025, the Directors passed a resolution to reduce the share premium account from £68,081k to £951k.”
- “The decrease in profit before taxation is primarily attributable to exceptional items arising from the restructuring undertaken in 2023.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MCGILVRAY, Margaret Joan | Secretary | 2010-07-08 | — | British |
| MCGILVRAY, Dugald Mitchell | Director | 2010-06-21 | Nov 1944 | British |
| MCGILVRAY, Iain Mitchell | Director | 2010-06-21 | Nov 1972 | British |
| MCGILVRAY, Margaret Joan | Director | 2010-06-21 | Aug 1968 | British |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| D M COMPANY SERVICES LIMITED | Corporate Secretary | 2010-06-17 | 2010-07-08 |
| ARROWSMITH, James Vaughan | Director | 2016-11-30 | 2021-12-09 |
| BENNETT, Dougal Gareth Stuart | Director | 2021-12-09 | 2023-09-27 |
| CAPLAN, William Frederick | Director | 2014-06-09 | 2023-09-27 |
| COCKWILL, Karl Nicholas | Director | 2021-12-09 | 2023-09-27 |
| FRASER, Nicol Roderick | Director | 2012-05-01 | 2021-12-09 |
| LIGERTWOOD, Mark Murray | Director | 2010-06-17 | 2012-05-01 |
| MILLER, Simon Edward | Director | 2012-05-01 | 2014-06-09 |
| YARROW, Norman Murray | Director | 2010-06-21 | 2016-11-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ms Margaret Joan Mcgilvray | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2023-09-27 | Active |
| Mr Dugald Mitchell Mcgilvray | Individual | Voting 25–50%, Appoints directors | 2023-09-27 | Active |
| Mr Iain Mcgilvray | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2023-09-27 | Active |
| Dunedin Llp/Dunedin Capital Partners(Gpii) Ltd | Corporate entity | Shares 50–75% | 2018-03-09 | Ceased 2023-09-27 |
Filing timeline
Last 20 of 92 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-25 MA Memorandum articles
- 2026-03-25 RESOLUTIONS Resolution
- 2025-05-06 RESOLUTIONS Resolution
- 2023-12-22 RESOLUTIONS Resolution
- 2023-12-21 MA Memorandum articles
- 2023-10-19 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-26 | SH08 | capital | Capital name of class of shares | |
| 2026-03-25 | MA | incorporation | Memorandum articles | |
| 2026-03-25 | RESOLUTIONS | resolution | Resolution | |
| 2025-10-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-29 | AA | accounts | Accounts with accounts type group | |
| 2025-05-06 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-05-06 | SH20 | capital | Legacy | |
| 2025-05-06 | CAP-SS | insolvency | Legacy | |
| 2025-05-06 | RESOLUTIONS | resolution | Resolution | |
| 2024-08-30 | AA | accounts | Accounts with accounts type group | |
| 2024-08-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-12-22 | RESOLUTIONS | resolution | Resolution | |
| 2023-12-21 | MA | incorporation | Memorandum articles | |
| 2023-11-16 | AA | accounts | Accounts with accounts type group | |
| 2023-10-23 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2023-10-23 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2023-10-23 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2023-10-19 | RESOLUTIONS | resolution | Resolution | |
| 2023-10-19 | SH01 | capital | Capital allotment shares | |
| 2023-10-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 3
- 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.