KINCARDINE OFFSHORE WINDFARM LIMITED
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Cash
£15m
+78.3% highest in 3 filed years
Net assets
-£109m
-44.3% lowest in 3 filed years
Employees
0
-100% lowest in 3 filed years
Profit before tax
-£44m
-878.4% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
3-year trend · vs Utilities 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 | £44,709,469 | £51,115,737 | £36,074,265 | -29.4% | |
| Operating profit | -£6,639,306 | £25,315,779 | -£35,913,794 | -241.9% | |
| Profit before tax | -£36,186,372 | -£4,537,967 | -£44,397,361 | -878.4% | |
| Net profit | -£30,168,871 | -£3,511,340 | -£33,525,083 | -854.8% | |
| Cash | £2,117,515 | £8,480,247 | £15,120,411 | +78.3% | |
| Total assets less current liabilities | £370,608,869 | -£37,163,821 | £284,820,799 | +866.4% | |
| Net assets | -£72,103,763 | -£75,615,103 | -£109,140,186 | -44.3% | |
| Equity | -£72,103,763 | -£75,615,103 | -£109,140,186 | -44.3% | |
| Average employees | 6 | 6 | 0 | -100% | |
| Wages | — | — | — | — | |
| Directors' remuneration | £0 | £0 | — | — |
Values shown as filed in the company's annual accounts. — 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 |
|---|---|---|---|---|
| Operating margin | -14.8% | 49.5% | -99.6% | |
| Net margin | -67.5% | -6.9% | -92.9% | |
| Return on capital employed | -1.8% | — | -12.6% | |
| Gearing (liabilities / total assets) | 118.4% | 120.0% | 131.1% | |
| Current ratio | 1.57x | 0.09x | 0.44x | |
| Interest cover | -0.22x | 0.85x | -4.17x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company has obtained a letter of support from its Parent Company, Cajamarca LT Invest S.L., to provide financial support, which would enable the Company to continue operational existence for the foreseeable future”
Significant events
- “4 of the 5 turbines suffered generator failure leading to a provision for repair costs of broken generators of £40M.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 12 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GARCIA DIAZ, Raul | Director | 2025-02-05 | Mar 1977 | Spanish |
| HUERTAS, Victor Jose Benayas | Director | 2026-01-02 | Nov 1972 | Spanish |
| MACASKILL, Allan | Director | 2014-04-15 | Jun 1955 | British |
| ROYO IBANEZ, Carlos Javier | Director | 2023-06-15 | Nov 1969 | Spanish |
| STEPHEN, Nicol Ross, Lord | Director | 2014-04-15 | Mar 1960 | British |
Show 12 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| D.W. COMPANY SERVICES LIMITED | Corporate Secretary | 2014-04-15 | 2018-03-16 |
| ALTOLAGUIRRE, Jaime | Director | 2018-02-05 | 2023-02-14 |
| BARAT VINACUA, Carlos | Director | 2016-11-17 | 2017-12-03 |
| BENITO, Tomás Jesús Fanjul | Director | 2023-02-14 | 2025-12-01 |
| FERNANDEZ GARCIA, Jose Antonio | Director | 2016-10-14 | 2023-02-14 |
| FERNANDEZ MELERO, Marta | Director | 2023-09-15 | 2026-02-18 |
| GOMEZ JENE, Eugenio Felix | Director | 2016-10-14 | 2016-11-17 |
| GONZALEZ WIEDMAIER, Juan Cristobel | Director | 2016-10-14 | 2023-02-14 |
| GUERRA BENITEZ, Mr. Miguel Angel | Director | 2023-02-14 | 2025-02-05 |
| HEPBURN, Alexander, Mr. | Director | 2017-12-15 | 2018-02-05 |
| PEREZ ALONSO, Aida | Director | 2016-10-14 | 2023-09-15 |
| RODRIGUEZ, Marta Nogueroles | Director | 2023-02-14 | 2023-06-15 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Pilot Offshore Renewables Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 55 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-18 | AA | accounts | Accounts with accounts type full | |
| 2026-04-24 | CH01 | officers | Change person director company with change date | |
| 2026-04-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-02-24 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-06 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-02 | AA | accounts | Accounts with accounts type full | |
| 2025-04-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-02-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-06 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-27 | AA | accounts | Accounts with accounts type full | |
| 2024-04-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-16 | AA | accounts | Accounts with accounts type full | |
| 2023-10-05 | TM01 | officers | Termination director company with name termination date | |
| 2023-10-05 | AP01 | officers | Appoint person director company with name date | |
| 2023-06-20 | TM01 | officers | Termination director company with name termination date | |
| 2023-06-20 | AP01 | officers | Appoint person director company with name date | |
| 2023-05-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-04-03 | AP01 | officers | Appoint person director company with name date | |
| 2023-03-22 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 2
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.