Pgs Exploration (uk) Limited

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pgs exploration (uk) limited Company Information

Company Number

02904391

Next Accounts

Sep 2025

Directors

William Ashby

Emma Taylor

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Shareholders

petroleum geo services (uk) ltd

Group Structure

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Industry

Support activities for petroleum and natural gas extraction

Registered Address

4 the heights brooklands, weybridge, surrey, KT13 0NY

Website

www.pgs.com

pgs exploration (uk) limited Estimated Valuation

£135m

Pomanda estimates the enterprise value of PGS EXPLORATION (UK) LIMITED at £135m based on Net Assets of £96.8m and 1.4x industry multiple (adjusted for liquidity).

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Pgs Exploration (uk) Limited is a live company located in surrey, KT13 0NY with a Companies House number of 02904391. It operates in the support activities for petroleum and natural gas mining sector, SIC Code 09100. Founded in March 1994, it's largest shareholder is petroleum geo services (uk) ltd with a 100% stake. Pgs Exploration (uk) Limited is a mature, mega sized company, Pomanda has estimated its turnover at £121.9m with healthy growth in recent years.

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Pomanda's financial health check has awarded Pgs Exploration (Uk) Limited a 5 rating. We use a traffic light system to show it exceeds the industry average on 7 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

7 Strong

1 Regular

3 Weak

Size

annual sales of £121.9m, make it larger than the average company (£16.6m)

Growth

3 year (CAGR) sales growth of 6%, show it is growing at a faster rate (3.4%)

EXPORT

Pgs Exploration (Uk) Limited's latest turnover from December 2023 is £121.9 million and the company has net assets of £96.8 million. According to their latest financial statements, Pgs Exploration (Uk) Limited has 129 employees and maintains cash reserves of £36.8 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Turnover	121,882,799	156,548,728	106,436,538	101,997,772	188,449,971	125,573,981	196,289,354	129,754,658	129,991,656	180,840,329	187,861,412	205,604,531	210,877,610	120,629,760	209,752,231
Other Income Or Grants
Cost Of Sales	104,247,354	134,621,703	104,012,724	106,076,495	173,411,825	126,215,653	212,264,680	138,268,803	117,790,336	195,341,009	165,401,724	189,340,680	198,565,371	134,109,852	185,371,975
Gross Profit	17,635,445	21,927,026	2,423,814	-4,078,723	15,038,146	-641,673	-15,975,326	-8,514,146	12,201,320	-14,500,680	22,459,689	16,263,851	12,312,239	-13,480,092	24,380,255
Admin Expenses	6,307,061	4,056,231	4,006,440	4,353,509	6,080,546	6,607,386	5,979,332	7,160,162	8,838,656	11,569,521	6,687,518	8,319,379	5,726,951	3,552,542	4,562,552
Operating Profit	11,328,384	17,870,795	-1,582,626	-8,432,232	8,957,600	-7,249,059	-21,954,658	-15,674,308	3,362,664	-26,070,201	15,772,171	7,944,472	6,585,288	-17,032,634	19,817,703
Interest Payable	613,647	4,739	166,510	392,870	523,768	113,755	1,884,964	1,277,314	1,380,566	2,362,677	882,680	592,834	29,553	320,144	238,141
Interest Receivable	4,257,621	1,157,794	1,845,743	1,662,086	1,218,456	732,195	4,806				900,055		949,566	1,540,033	2,924,449
Pre-Tax Profit	14,972,358	19,023,851	96,607	-7,163,015	9,652,289	-6,630,618	-23,834,815	-16,951,622	1,982,098	-28,432,878	15,789,547	7,351,638	7,505,300	-15,812,744	22,504,012
Tax	3,935,397	-4,839,678	-519,950	2,286,669	-3,047,242	-1,409,917	-2,800,609	-7,506,709	1,485,246	2,107,620	-5,725,605	-2,684,684	-506,907	2,998,947	-2,870,531
Profit After Tax	18,907,755	14,184,173	-423,343	-4,876,346	6,605,047	-8,040,535	-26,635,424	-24,458,330	3,467,344	-26,325,258	10,063,942	4,666,954	6,998,394	-12,813,797	19,633,481
Dividends Paid													25,807,902
Retained Profit	18,907,755	14,184,173	-423,343	-4,876,346	6,605,047	-8,040,535	-26,635,424	-24,458,330	3,467,344	-26,325,258	10,063,942	4,666,954	-18,809,509	-12,813,797	19,633,481
Employee Costs	14,996,841	20,747,117	15,461,828	17,913,108	20,239,143	22,982,456	20,990,948	20,992,103	24,770,538	30,562,885	22,131,637	20,540,507	15,377,449	13,724,689	11,618,204
Number Of Employees	129	121	117	158	178	188	201	210	233	229	220	215	200	184	179
EBITDA*	18,366,766	48,876,164	44,758,089	-2,991,459	54,133,656	13,891,692	-18,947,368	-12,432,723	7,205,492	-20,498,921	20,135,530	10,799,680	9,728,236	-13,715,400	23,935,426

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Tangible Assets	2,501,184	913,757	2,986,961	9,999,257	13,760,269	8,973,804	8,533,205	9,401,211	11,879,693	16,121,372	14,373,088	11,719,404	10,569,225	11,923,338	14,375,120
Intangible Assets	24,678,566	21,975,991	35,240,339		27,380,428	57,110,470	25,834,335	41,679,062	61,337,328
Investments & Other	20,534	20,534	20,421	47,383,587	19,073	20,828	20,828				1		1	1
Debtors (Due After 1 year)											1,787,600	2,765,944	7,171,859	8,816,025	1,949,419
Total Fixed Assets	27,200,284	22,910,283	38,247,722	57,382,844	41,159,771	66,105,103	34,388,368	51,080,273	73,217,022	16,121,372	16,160,689	14,485,348	17,741,086	20,739,365	16,324,539
Stock & work in progress										77,383,865	102,724,493	51,117,951	27,104,401	15,629,451	24,321,202
Trade Debtors	15,905,070	42,610,172	13,272,856	7,674,712	24,719,777	31,916,206	24,902,668	36,933,988	35,152,848	56,042,216	14,083,959	12,748,092	24,247,992	13,852,870	25,852,109
Group Debtors	72,669,404	37,438,003	28,609,802	32,870,404	33,494,718	7,692,061	34,001,441	10,308,977	10,848,820	4,279,203	26,064,081	3,587,170	6,267,908	45,859,186	40,942,936
Misc Debtors	8,884,852	29,251,303	6,123,939	4,079,465	15,896,420	2,555,475	3,018,505	4,077,282	11,883,486	5,395,378	22,447,178	14,229,253	19,473,176	16,332,280	24,672,957
Cash	36,801,453	575,738	7,407,320	5,762,347	160,651	281,983	2,764,560	1,187,610	315,558	5,598,465	2,491,660	16,622	366,849	291,659	9,205,982
misc current assets										5,641,641					539,187
total current assets	134,260,780	109,875,217	55,413,918	50,386,929	74,271,567	42,445,726	64,687,175	52,507,859	58,200,713	154,340,769	167,811,371	81,699,089	77,460,328	91,965,447	125,534,373
total assets	161,461,065	132,785,500	93,661,640	107,769,773	115,431,338	108,550,829	99,075,543	103,588,132	131,417,735	170,462,141	183,972,060	96,184,437	95,201,413	112,704,811	141,858,913
Bank overdraft
Bank loan
Trade Creditors	734,481	649,976	904,021	606,016	2,309,272	4,006,248	2,047,585	3,013,877	2,764,166	5,339,410	4,507,228	2,127,555	2,975,907	8,187,504	8,085,243
Group/Directors Accounts	36,489,496	26,089,085	7,952,403	3,709,618	18,847,565	11,153,569	4,281,823	42,540,826	50,278,389	77,103,222	81,080,762	18,396,947	19,019,595	9,362,190	13,990,628
other short term finances
hp & lease commitments	517,295	15,795	535,658	1,951,726	1,566,901	1,049,427
other current liabilities	21,315,747	22,895,277	18,733,898	36,188,637	21,440,727	32,688,456	24,132,019	16,943,187	13,943,715	23,389,301	20,012,510	15,131,125	15,342,113	15,104,340	24,810,321
total current liabilities	59,057,021	49,650,134	28,125,982	42,455,997	44,164,466	48,897,701	30,461,428	62,497,892	66,986,270	105,831,934	105,600,500	35,655,627	37,337,616	32,654,034	46,886,193
loans					2,472,857	2,535,448	3,358,968	2,908,073
hp & lease commitments	5,413,046	5,018,954		2,430,746	4,397,740
Accruals and Deferred Income
other liabilities	12,636	59,232	21,991	20,051	55,017		43,258	113,470	2,568,459	3,078,276	1,982,902	1,782,196	1,424,991	5,989,844	5,409,204
provisions	227,452	214,026	2,204,681	2,600,074										1,533,841	1,100,198
total long term liabilities	5,653,135	5,292,213	2,226,673	5,050,873	6,925,616	2,535,448	3,402,227	3,021,544	2,568,459	3,078,276	1,982,902	1,782,197	1,424,992	7,523,686	6,509,404
total liabilities	64,710,156	54,942,347	30,352,655	47,506,870	51,090,082	51,433,149	33,863,655	65,519,436	69,554,730	108,910,210	107,583,403	37,437,823	38,762,608	40,177,720	53,395,597
net assets	96,750,908	77,843,153	63,308,985	60,262,904	64,341,256	57,117,680	65,211,888	38,068,696	61,863,005	61,551,931	76,388,657	58,746,614	56,438,805	72,527,091	88,463,316
total shareholders funds	96,750,908	77,843,153	63,308,985	60,262,904	64,341,256	57,117,680	65,211,888	38,068,696	61,863,005	61,551,931	76,388,657	58,746,614	56,438,805	72,527,091	88,463,316

	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009
Operating Activities
Operating Profit	11,328,384	17,870,795	-1,582,626	-8,432,232	8,957,600	-7,249,059	-21,954,658	-15,674,308	3,362,664	-26,070,201	15,772,171	7,944,472	6,585,288	-17,032,634	19,817,703
Depreciation	1,069,341	1,055,126	5,186,931	5,440,772	5,002,934	3,267,644	3,007,290	3,241,586	3,842,828	5,571,280	4,363,358	2,855,208	3,142,949	3,317,233	4,117,723
Amortisation	5,969,041	29,950,244	41,153,785		40,173,122	17,873,107
Tax	3,935,397	-4,839,678	-519,950	2,286,669	-3,047,242	-1,409,917	-2,800,609	-7,506,709	1,485,246	2,107,620	-5,725,605	-2,684,684	-506,907	2,998,947	-2,870,531
Stock									-77,383,865	-25,340,628	51,606,541	24,013,550	11,474,950	-8,691,751	24,321,202
Debtors	-11,840,151	61,292,881	3,382,015	-29,486,333	31,947,173	-19,758,872	10,602,366	-6,564,907	-7,831,643	1,333,980	31,052,358	-23,830,477	-27,699,425	-8,557,058	93,417,420
Creditors	84,505	-254,045	298,006	-1,703,257	-1,696,976	1,958,664	-966,292	249,711	-2,575,244	832,182	2,379,673	-848,353	-5,211,596	102,261	8,085,243
Accruals and Deferred Income	-1,579,530	4,161,379	-17,454,739	14,747,910	-11,247,729	8,556,437	7,188,832	2,999,472	-9,445,586	3,376,791	4,881,385	-210,988	237,773	-9,705,981	24,810,321
Deferred Taxes & Provisions	13,426	-1,990,655	-395,393	2,600,074									-1,533,841	433,643	1,100,198
Cash flow from operations	32,660,715	-15,339,715	23,303,999	44,426,269	6,194,536	42,755,748	-26,127,803	-10,125,341	81,885,416	9,824,320	-60,987,917	6,872,582	18,938,141	-2,637,722	-62,677,965
Investing Activities
capital expenditure	-11,328,384	-15,667,817	-74,568,759	25,700,668	-20,232,479	-52,857,486	13,705,443	18,895,163	-60,938,477	-7,319,564	-7,017,042	-4,005,387	-1,788,836	-865,451	-18,492,843
Change in Investments		113	-47,363,166	47,364,514	-1,756		20,828			-1		-1		1
cash flow from investments	-11,328,384	-15,667,930	-27,205,593	-21,663,846	-20,230,723	-52,857,486	13,684,615	18,895,163	-60,938,477	-7,319,563	-7,017,042	-4,005,386	-1,788,836	-865,452	-18,492,843
Financing Activities
Bank loans
Group/Directors Accounts	10,400,411	18,136,682	4,242,786	-15,137,947	7,693,996	6,871,746	-38,259,003	-7,737,562	-26,824,833	-3,977,540	62,683,815	-622,649	9,657,406	-4,628,439	13,990,628
Other Short Term Loans
Long term loans				-2,472,857	-62,591	-823,520	450,895	2,908,073
Hire Purchase and Lease Commitments	895,592	4,499,091	-3,846,814	-1,582,169	4,915,214	1,049,427
other long term liabilities	-46,596	37,241	1,940	-34,966	55,017	-43,258	-70,212	-2,454,989	-509,817	1,095,374	200,706	357,205	-4,564,853	580,640	5,409,204
share issue		349,995	3,469,424	797,994	618,529	-53,673	53,778,616	664,020	-3,156,270	11,488,532	7,578,101	-2,359,145	2,721,223	-3,122,428	68,829,835
interest	3,643,974	1,153,055	1,679,233	1,269,216	694,688	618,440	-1,880,158	-1,277,314	-1,380,566	-2,362,677	17,375	-592,834	920,013	1,219,889	2,686,308
cash flow from financing	14,893,381	24,176,064	5,546,569	-17,160,729	13,914,853	7,619,162	14,020,138	-7,897,772	-31,871,486	6,243,689	70,479,997	-3,217,423	8,733,789	-5,950,338	90,915,975
cash and cash equivalents
cash	36,225,715	-6,831,582	1,644,973	5,601,695	-121,332	-2,482,576	1,576,950	872,052	-5,282,907	3,106,805	2,475,038	-350,227	75,190	-8,914,323	9,205,982
overdraft
change in cash	36,225,715	-6,831,582	1,644,973	5,601,695	-121,332	-2,482,576	1,576,950	872,052	-5,282,907	3,106,805	2,475,038	-350,227	75,190	-8,914,323	9,205,982

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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PGS EXPLORATION (UK) LIMITED group structure

Pgs Exploration (Uk) Limited has no subsidiary companies.

Ultimate parent company

PETROLEUM GEO-SERVICES AS

#0126969

PETROLEUM GEO-SERVICES (UK) LIMITED

02874539

2 parents

PGS EXPLORATION (UK) LIMITED

02904391

PGS EXPLORATION (UK) LIMITED Shareholders

petroleum geo services (uk) ltd

100%

Pgs Exploration (Uk) Limited currently has 3 directors. The longest serving directors include Mr William Ashby (Mar 2025) and Ms Emma Taylor (Mar 2025).

officer	age	start	end	role
Mr William Ashby	49 years	Mar 2025	-	Director
Ms Emma Taylor	50 years	Mar 2025	-	Director
Mr William Ashby	49 years	Mar 2025	-	Director

P&L

December 2023

turnover

121.9m

-22%

operating profit

11.3m

-37%

gross margin

14.5%

+3.3%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

December 2023

net assets

96.8m

+0.24%

total assets

161.5m

+0.22%

cash

36.8m

+62.92%

net assets

Total assets minus all liabilities

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company number

02904391

Type

Private limited with Share Capital

industry

09100 - Support activities for petroleum and natural gas extraction

incorporation date

March 1994

ultimate parent company

PETROLEUM GEO-SERVICES AS

previous names

3002nd single member shelf trading company limited (March 1994)

address

4 the heights brooklands, weybridge, surrey, KT13 0NY

A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.

We found 4 charges/mortgages relating to pgs exploration (uk) limited. Currently there are 1 open charges and 3 have been satisfied in the past.

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pgs exploration (uk) limited Company Information

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pgs exploration (uk) limited Estimated Valuation

pgs exploration (uk) limited Estimated Valuation

Pgs Exploration (uk) Limited Overview

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PGS EXPLORATION (UK) LIMITED financials

pgs exploration (uk) limited Credit Report and Business Information

Pgs Exploration (uk) Limited Competitor Analysis

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pgs exploration (uk) limited directors

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