Spirit Europe Limited

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spirit europe limited Company Information

Live

Mature

Company Number

05088411

Next Accounts

Sep 2025

Industry

Other mining and quarrying n.e.c.

Directors

Scott McGinigal

Nicholas Harrison

Shareholders

spirit norway holding as

Group Structure

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Contact

Registered Address

millstream maidenhead road, windsor, berkshire, SL4 5GD

Website

http://bayerngasnorge.com

spirit europe limited Estimated Valuation

£360.2m

Pomanda estimates the enterprise value of SPIRIT EUROPE LIMITED at £360.2m based on Net Assets of £336.3m and 1.07x industry multiple (adjusted for liquidity).

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Spirit Europe Limited is a live company located in berkshire, SL4 5GD with a Companies House number of 05088411. It operates in the other mining and quarrying n.e.c. sector, SIC Code 08990. Founded in March 2004, it's largest shareholder is spirit norway holding as with a 100% stake. Spirit Europe Limited is a mature, unknown sized company, Pomanda has estimated its turnover at £0 with unknown growth in recent years.

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Pomanda's financial health check has awarded Spirit Europe Limited a 1 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 2 areas for improvement. Company Health Check FAQs

Health Rating1out of 5

1 Strong

0 Regular

2 Weak

Size

There is insufficient data available for this Key Performance Indicator!

Growth

There is insufficient data available for this Key Performance Indicator!

EXPORT

Spirit Europe Limited's latest turnover from December 2023 is 0 and the company has net assets of £336.3 million. According to their latest financial statements, we estimate that Spirit Europe Limited has 1 employee and maintains cash reserves of £19 thousand 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Income Or Grants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cost Of Sales	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Admin Expenses	32,000	0	-203,701,000	10,371,000	76,926,000	1,393,000	50,741,000	24,722,648	43,453,602	511,252	596,638	2,109,358	69,879,770	1,185,551	17,976,020
Operating Profit	-32,000	0	203,701,000	-10,371,000	-76,926,000	-1,393,000	-50,741,000	-24,722,648	-43,453,602	-511,252	-596,638	-2,109,358	-69,879,770	-1,185,551	-17,976,020
Interest Payable	584,000	315,000	222,000	237,000	264,000	145,000	4,792,000	6,360,937	10,063,590	10,628,733	6,001,084	1,467,502	502,438	291,391	509,245
Interest Receivable	0	0	0	0	0	328,000	4,193,000	12,762,451	14,947,368	25,088,158	9,302,434	5,637,012	2,709,360	967,495	288,639
Pre-Tax Profit	-616,000	-315,000	203,479,000	-10,608,000	-77,190,000	-1,225,000	-51,334,000	-24,558,885	-31,635,893	13,948,173	2,704,712	6,121,963	-66,193,151	3,122,381	-18,196,626
Tax	145,000	250,000	42,000	0	137,000	226,000	8,000	9,332	17,537	1,680,610	-252,110	-1,429,726	-347,440	-4,900	7,611,604
Profit After Tax	-471,000	-65,000	203,521,000	-10,608,000	-77,053,000	-999,000	-51,326,000	-24,549,553	-31,618,356	15,628,783	2,452,602	4,692,237	-66,540,591	3,117,481	-10,585,022
Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Retained Profit	-471,000	-65,000	203,521,000	-10,608,000	-77,053,000	-999,000	-51,326,000	-24,549,553	-31,618,356	15,628,783	2,452,602	4,692,237	-66,540,591	3,117,481	-10,585,022
Employee Costs	0	0	0	0	0	0	2,229,000	2,129,071	2,032,213	1,880,935	1,265,127	1,091,923	1,003,120	558,988	2,386,968
Number Of Employees	1	1	1	1	1	1	11	13	14	11	8	8	8	6	18
EBITDA*	-32,000	0	203,701,000	-10,371,000	-76,926,000	-1,362,000	-50,741,000	-24,562,142	-43,239,452	-297,102	-415,438	-1,954,443	-69,769,126	-1,184,825	-17,863,256

* 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	0	0	0	0	0	57,000	88,000	183,566	289,924	444,480	592,368	217,835	394,579	4,117	1,462
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	10,925,205
Investments & Other	344,025,000	344,025,000	344,025,000	140,324,000	151,168,000	228,057,000	228,051,000	277,042,503	108,033,171	65,025,090	25,090	25,090	1,103,689	77,462,756	0
Debtors (Due After 1 year)	46,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Fixed Assets	344,071,000	344,025,000	344,025,000	140,324,000	151,168,000	228,114,000	228,139,000	277,226,069	108,323,095	65,469,570	617,458	242,925	1,498,268	77,466,873	10,926,667
Stock & work in progress	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Trade Debtors	0	0	0	0	0	0	0	0	0	0	0	0	0	0	29,807
Group Debtors	145,000	315,000	88,000	100,000	411,000	243,000	43,131,000	65,543,475	180,342,080	198,279,238	190,170,156	113,898,565	71,163,358	29,645,434	0
Misc Debtors	0	0	0	0	295,000	296,000	62,000	124,435	139,802	1,829,716	82,093	50,994	107,008	37,943	135,500
Cash	19,000	51,000	51,000	52,000	52,000	66,000	647,000	1,101,642	10,303,489	6,335,597	2,628,780	5,134,729	350,467	5,561,245	4,132,556
misc current assets	0	0	0	0	0	0	0	0	0	0	0	0	1,342,066	0	6,283,437
total current assets	164,000	366,000	139,000	152,000	758,000	605,000	43,840,000	66,769,552	190,785,371	206,444,551	192,881,029	119,084,288	72,962,899	35,244,622	10,581,300
total assets	344,235,000	344,391,000	344,164,000	140,476,000	151,926,000	228,719,000	271,979,000	343,995,621	299,108,466	271,914,121	193,498,487	119,327,213	74,461,167	112,711,495	21,507,967
Bank overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Bank loan	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,144,245
Trade Creditors	0	0	0	0	0	0	15,000	64,214	40,384	93,915	91,065	30,012	84,744	20,307	360,497
Group/Directors Accounts	7,922,000	7,607,000	7,315,000	7,148,000	7,222,000	6,961,000	49,096,000	70,394,825	50,702	3,080,330	2,383,863	62,312,979	189,447	13,925,655	0
other short term finances	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other current liabilities	0	0	0	0	768,000	769,000	880,000	223,372	265,564	576,411	1,439,735	2,146,952	644,766	100,941	3,596,614
total current liabilities	7,922,000	7,607,000	7,315,000	7,148,000	7,990,000	7,730,000	49,991,000	70,682,411	356,650	3,750,656	3,914,663	64,489,943	918,957	14,046,903	7,101,356
loans	0	0	0	0	0	0	0	0	168,461,369	124,345,206	126,382,345	18,109,852	41,507,029	88,820	0
hp & lease commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accruals and Deferred Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
provisions	0	0	0	0	0	0	0	0	0	9,456	21,459	0	0	0	13,667,028
total long term liabilities	0	0	0	0	0	0	0	0	168,461,369	124,354,662	126,403,804	18,109,852	41,507,029	88,820	6,833,514
total liabilities	7,922,000	7,607,000	7,315,000	7,148,000	7,990,000	7,730,000	49,991,000	70,682,411	168,818,019	128,105,318	130,318,467	82,599,795	42,425,986	14,135,723	13,934,870
net assets	336,313,000	336,784,000	336,849,000	133,328,000	143,936,000	220,989,000	221,988,000	273,313,210	130,290,447	143,808,803	63,180,020	36,727,418	32,035,181	98,575,772	7,573,097
total shareholders funds	336,313,000	336,784,000	336,849,000	133,328,000	143,936,000	220,989,000	221,988,000	273,313,210	130,290,447	143,808,803	63,180,020	36,727,418	32,035,181	98,575,772	7,573,097

	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	-32,000	0	203,701,000	-10,371,000	-76,926,000	-1,393,000	-50,741,000	-24,722,648	-43,453,602	-511,252	-596,638	-2,109,358	-69,879,770	-1,185,551	-17,976,020
Depreciation	0	0	0	0	0	31,000	0	160,506	214,150	214,150	181,200	154,915	110,644	726	112,764
Amortisation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax	145,000	250,000	42,000	0	137,000	226,000	8,000	9,332	17,537	1,680,610	-252,110	-1,429,726	-347,440	-4,900	7,611,604
Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Debtors	-124,000	227,000	-12,000	-606,000	167,000	-42,654,000	-22,474,910	-114,813,972	-19,627,072	9,856,705	76,302,690	42,679,193	41,586,989	29,518,070	165,307
Creditors	0	0	0	0	0	-15,000	-49,214	23,830	-53,531	2,850	61,053	-54,732	64,437	-340,190	360,497
Accruals and Deferred Income	0	0	0	-768,000	-1,000	-111,000	656,628	-42,192	-310,847	-863,324	-707,217	1,502,186	543,825	-3,495,673	3,596,614
Deferred Taxes & Provisions	0	0	0	0	0	0	0	0	-9,456	-12,003	21,459	0	0	-13,667,028	13,667,028
Cash flow from operations	237,000	23,000	203,755,000	-10,533,000	-76,957,000	41,392,000	-27,650,676	90,242,800	-23,968,677	-9,345,674	-77,594,943	-44,615,908	-111,095,293	-48,210,686	7,207,180
Investing Activities
capital expenditure	0	0	0	0	57,000	0	95,566	-54,148	-59,594	-66,262	-555,733	21,829	-501,106	10,921,824	-11,039,431
Change in Investments	0	0	203,701,000	-10,844,000	-76,889,000	6,000	-48,991,503	169,009,332	43,008,081	65,000,000	0	-1,078,599	-76,359,067	77,462,756	0
cash flow from investments	0	0	-203,701,000	10,844,000	76,946,000	-6,000	49,087,069	-169,063,480	-43,067,675	-65,066,262	-555,733	1,100,428	75,857,961	-66,540,932	-11,039,431
Financing Activities
Bank loans	0	0	0	0	0	0	0	0	0	0	0	0	0	-3,144,245	3,144,245
Group/Directors Accounts	315,000	292,000	167,000	-74,000	261,000	-42,135,000	-21,298,825	70,344,123	-3,029,628	696,467	-59,929,116	62,123,532	-13,736,208	13,925,655	0
Other Short Term Loans	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long term loans	0	0	0	0	0	0	0	-168,461,369	44,116,163	-2,037,139	108,272,493	-23,397,177	41,418,209	88,820	0
Hire Purchase and Lease Commitments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
other long term liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
share issue	0	0	0	0	0	0	790	167,572,316	18,100,000	65,000,000	24,000,000	0	0	87,885,194	18,158,119
interest	-584,000	-315,000	-222,000	-237,000	-264,000	183,000	-599,000	6,401,514	4,883,778	14,459,425	3,301,350	4,169,510	2,206,922	676,104	-220,606
cash flow from financing	-269,000	-23,000	-55,000	-311,000	-3,000	-41,952,000	-21,897,035	75,856,584	64,070,313	78,118,753	75,644,727	42,895,865	29,888,923	99,431,528	21,081,758
cash and cash equivalents
cash	-32,000	0	-1,000	0	-14,000	-581,000	-454,642	-9,201,847	3,967,892	3,706,817	-2,505,949	4,784,262	-5,210,778	1,428,689	4,132,556
overdraft	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
change in cash	-32,000	0	-1,000	0	-14,000	-581,000	-454,642	-9,201,847	3,967,892	3,706,817	-2,505,949	4,784,262	-5,210,778	1,428,689	4,132,556

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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SPIRIT EUROPE LIMITED group structure

Spirit Europe Limited has 1 subsidiary company.

Ultimate parent company

CENTRICA PLC

03033654

SPIRIT NORWAY HOLDING AS

#0025974

2 parents

SPIRIT EUROPE LIMITED

05088411

1 subsidiary

SPIRIT ENERGY SOUTHERN NORTH SEA LIMITED

05735294

SPIRIT EUROPE LIMITED Shareholders

spirit norway holding as

100%

Spirit Europe Limited currently has 2 directors. The longest serving directors include Mr Scott McGinigal (Sep 2023) and Mr Nicholas Harrison (Jul 2024).

officer	country	age	start	end	role
Mr Scott McGinigal		53 years	Sep 2023	-	Director
Mr Nicholas Harrison		58 years	Jul 2024	-	Director

P&L

December 2023

turnover

operating profit

-32k

gross margin

turnover

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

Balance Sheet

December 2023

net assets

336.3m

total assets

344.2m

cash

19k

-0.63%

net assets

Total assets minus all liabilities

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company number

05088411

Type

Private limited with Share Capital

industry

08990 - Other mining and quarrying n.e.c.

incorporation date

March 2004

ultimate parent company

CENTRICA PLC

previous names

spirit europe ltd (May 2018)

bayerngas uk limited (December 2017)

address

millstream maidenhead road, windsor, berkshire, SL4 5GD

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spirit europe limited Company Information

spirit europe limited Estimated Valuation

spirit europe limited Estimated Valuation

spirit europe limited Estimated Valuation

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