HELLENES LIMITED

• ⚠

  Material uncertainty over going concern

  It is the responsibility of the Directors to prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Company will continue in business. Following the sale of trade and assets during 2024, the Company is not expected to have any further activity and in the near future the Directors intend to take appropriate actions so that the Company can be struck off the Register of Companies. Accordingly, they adopt a basis other than going concern in preparing the financial statements.

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

• Turnover

  -48.9%

  £3,485,000 → £1,782,000

• Cash

  0%

  £1,050,000 → £1,050,000

• Net assets

  0%

  £1,674,000 → £1,674,000

• Employees

  -90%

  30 → 3

• Operating profit

  +140.4%

  £235,000 → £565,000

• Profit before tax

  +1,615.7%

  £249,000 → £4,272,000

• Wages

  -68%

  £1,346,000 → £431,000

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

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. 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.

1. HELLENES LIMITED 2019-02-28 → present
2. CAIRNS SERVICES (ABERDEEN) LIMITED 2016-12-28 → 2019-02-28

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“It is the responsibility of the Directors to prepare the financial statements on a going concern basis unless it is inappropriate to presume that the Company will continue in business. Following the sale of trade and assets during 2024, the Company is not expected to have any further activity and in the near future the Directors intend to take appropriate actions so that the Company can be struck off the Register of Companies. Accordingly, they adopt a basis other than going concern in preparing the financial statements.”

Significant events

• “On 13 February 2024, 50% share capital of the Company was purchased by National Oilwell Varco UK Limited. On 3 May 2024 the remaining 50% share capital of the Company was purchased by National Oilwell Varco UK Limited.”
• “On 1 June 2024 the Company sold its trade and assets to NOV Downhole Eurasia Limited in exchange for a note amounting to GBP £5,799,000.”
• “On 4 December 2024, the Directors passed a special resolution to reduce the Share premium account from £25,000 to £nil and this amount was credited to the Profit and Loss Account.”
• “On 6 December 2024 the Company declared a dividend in specie to the Company's sole shareholder, National Oilwell Varco UK Limited, consisting of the £5,799,000 loan note with NOV Downhole Eurasia Limited.”
• “As the Company is no longer trading, there have been no significant events affecting the Company since the year end.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.