ORBITAL MARINE POWER (ORKNEY) PLC

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

  +366.4%

  £150,090 → £700,058

• Cash

  -89.2%

  £33,558 → £3,621

  lowest in 3 filed years

• Net assets

  -35.7%

  £3,917,961 → £2,519,943

  lowest in 3 filed years

• Employees

  —

  Not reported

• Operating profit

  +32.1%

  -£1,540,048 → -£1,045,091

• Profit before tax

  +22.5%

  -£1,803,239 → -£1,398,018

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. ORBITAL MARINE POWER (ORKNEY) PLC 2018-10-10 → present
2. WARNESS TIDAL POWER PLC 2018-09-26 → 2018-10-10

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Johnston Carmichael 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 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.”

Significant events

• “The Orbital O2 construction project was delivered for the Company through an Engineering, Procurement and Construction (EPC) contract with its parent organisation Orbital Marine Power Limited (Orbital). The successful installation and commissioning of the world's most powerful and advanced tidal stream turbine in the fast-flowing waters of the Fall of Warness in Orkney in July 2021 signaled the end of the construction phase of this flagship O2 project.”
• “A number of O2 upgrades were completed through 2023 and 2024 with the turbine now having passed through its re-commissioning work-up program, including generation at the full 2MW setpoint...”
• “All debt repayment obligations were met through 2024 but due to delays experienced through the upgrade and re-commissioning program of the O2, the £4 million debt instrument invested in Orbital Projects Holdings Limited by Scottish National Investment Bank was increased in March 2024 by an additional £1 million and the term of the facility extended by two years (to 2036).”

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

Filings

4

last 12 months

Capital events

0

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.