kellas north sea 2 limited
kellas north sea 2 limited Company Information
Company Number
10778448
Next Accounts
Sep 2025
Industry
Activities of other holding companies (not including agricultural, production, construction, distribution and financial services holding companies) n.e.c.
Shareholders
kellas north sea 1 limited
Group Structure
View All
Contact
Registered Address
suite 1 7th floor, 50 broadway, london, SW1H 0BL
Website
http://cats-ml.comkellas north sea 2 limited Estimated Valuation
Pomanda estimates the enterprise value of KELLAS NORTH SEA 2 LIMITED at £16.5m based on a Turnover of £8.2m and 2.01x industry multiple (adjusted for size and gross margin).
kellas north sea 2 limited Estimated Valuation
Pomanda estimates the enterprise value of KELLAS NORTH SEA 2 LIMITED at £63.3m based on an EBITDA of £8.1m and a 7.82x industry multiple (adjusted for size and gross margin).
kellas north sea 2 limited Estimated Valuation
Pomanda estimates the enterprise value of KELLAS NORTH SEA 2 LIMITED at £20.4m based on Net Assets of £15.5m and 1.31x industry multiple (adjusted for liquidity).
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Kellas North Sea 2 Limited Overview
Kellas North Sea 2 Limited is a live company located in london, SW1H 0BL with a Companies House number of 10778448. It operates in the activities of other holding companies n.e.c. sector, SIC Code 64209. Founded in May 2017, it's largest shareholder is kellas north sea 1 limited with a 100% stake. Kellas North Sea 2 Limited is a young, mid sized company, Pomanda has estimated its turnover at £8.2m with declining growth in recent years.
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Kellas North Sea 2 Limited Health Check
Pomanda's financial health check has awarded Kellas North Sea 2 Limited a 3.5 rating. We use a traffic light system to show it exceeds the industry average on 3 measures and has 4 areas for improvement. Company Health Check FAQs
3 Strong
1 Regular
4 Weak
Size
annual sales of £8.2m, make it smaller than the average company (£19m)
£8.2m - Kellas North Sea 2 Limited
£19m - Industry AVG
Growth
3 year (CAGR) sales growth of -5%, show it is growing at a slower rate (10.6%)
-5% - Kellas North Sea 2 Limited
10.6% - Industry AVG
Production
with a gross margin of 72.2%, this company has a lower cost of product (36.3%)
72.2% - Kellas North Sea 2 Limited
36.3% - Industry AVG
Profitability
an operating margin of 71.4% make it more profitable than the average company (4.6%)
71.4% - Kellas North Sea 2 Limited
4.6% - Industry AVG
Employees
with 43 employees, this is below the industry average (105)
- Kellas North Sea 2 Limited
105 - Industry AVG
Pay Structure
There is insufficient data available for this Key Performance Indicator!
- Kellas North Sea 2 Limited
- - Industry AVG
Efficiency
resulting in sales per employee of £190.3k, this is equally as efficient (£191.8k)
- Kellas North Sea 2 Limited
£191.8k - Industry AVG
Debtor Days
it gets paid by customers after 58 days, this is later than average (45 days)
58 days - Kellas North Sea 2 Limited
45 days - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Kellas North Sea 2 Limited
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - Kellas North Sea 2 Limited
- - Industry AVG
Cash Balance
There is insufficient data available for this Key Performance Indicator!
- - Kellas North Sea 2 Limited
- - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 54.4%, this is a lower level of debt than the average (69.5%)
54.4% - Kellas North Sea 2 Limited
69.5% - Industry AVG
KELLAS NORTH SEA 2 LIMITED financials
Kellas North Sea 2 Limited's latest turnover from December 2023 is £8.2 million and the company has net assets of £15.5 million. According to their latest financial statements, we estimate that Kellas North Sea 2 Limited has 43 employees and maintains cash reserves of 0 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 | |
|---|---|---|---|---|---|---|---|
| Turnover | 8,185,000 | 8,166,000 | 7,452,000 | 9,430,000 | 9,647,000 | 3,042,000 | 0 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost Of Sales | 2,273,000 | 2,411,000 | 2,291,000 | 2,409,000 | 3,684,000 | 2,700,000 | 22,000 |
| Gross Profit | 5,912,000 | 5,755,000 | 5,161,000 | 7,021,000 | 5,963,000 | 342,000 | -22,000 |
| Admin Expenses | 70,000 | 65,000 | 69,000 | 70,000 | 54,000 | 2,000 | 65,000 |
| Operating Profit | 5,842,000 | 5,690,000 | 5,092,000 | 6,951,000 | 5,909,000 | 340,000 | -87,000 |
| Interest Payable | 253,000 | 100,000 | 3,116,000 | 3,156,000 | 3,064,000 | 2,153,000 | 38,000 |
| Interest Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Pre-Tax Profit | 5,589,000 | 5,590,000 | 1,976,000 | 3,868,000 | 2,845,000 | 1,183,000 | -1,084,000 |
| Tax | -359,000 | -114,000 | -443,000 | -312,000 | -124,000 | -179,000 | 2,000 |
| Profit After Tax | 5,230,000 | 5,476,000 | 1,533,000 | 3,556,000 | 2,721,000 | 1,004,000 | -1,082,000 |
| Dividends Paid | 0 | 0 | 0 | 4,000,000 | 0 | 1,600,000 | 0 |
| Retained Profit | 5,230,000 | 5,476,000 | 1,533,000 | -444,000 | 2,721,000 | -596,000 | -1,082,000 |
| Employee Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Number Of Employees | |||||||
| EBITDA* | 8,089,000 | 8,060,000 | 7,337,000 | 9,254,000 | 9,436,000 | 2,664,000 | -87,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | |
|---|---|---|---|---|---|---|---|
| Tangible Assets | 32,685,000 | 34,766,000 | 39,032,000 | 39,274,000 | 42,592,000 | 48,555,000 | 15,924,000 |
| Intangible Assets | 65,000 | 69,000 | 74,000 | 78,000 | 83,000 | 87,000 | 0 |
| Investments & Other | 0 | 0 | 0 | 0 | 934,000 | 934,000 | 15,924,000 |
| Debtors (Due After 1 year) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 32,750,000 | 34,835,000 | 39,106,000 | 39,352,000 | 43,609,000 | 48,642,000 | 15,924,000 |
| Stock & work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Debtors | 1,317,000 | 1,397,000 | 1,439,000 | 895,000 | 1,752,000 | 567,000 | 0 |
| Group Debtors | 7,000 | 7,000 | 7,000 | 17,044,000 | 9,862,000 | 1,634,000 | 0 |
| Misc Debtors | 0 | 0 | 0 | 0 | 51,000 | 0 | 0 |
| Cash | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 2,000 |
| total current assets | 1,324,000 | 1,404,000 | 1,446,000 | 17,939,000 | 11,665,000 | 2,201,000 | 2,000 |
| total assets | 34,074,000 | 36,239,000 | 40,552,000 | 57,291,000 | 55,274,000 | 50,843,000 | 15,926,000 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 6,529,000 | 14,354,000 | 0 | 0 | 24,000 | 0 | 0 |
| other short term finances | 0 | 0 | 0 | 0 | 5,400,000 | 5,400,000 | 0 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other current liabilities | 1,308,000 | 1,257,000 | 23,599,000 | 732,000 | 388,000 | 264,000 | 1,046,000 |
| total current liabilities | 7,837,000 | 15,611,000 | 23,599,000 | 732,000 | 5,812,000 | 5,664,000 | 1,046,000 |
| loans | 5,400,000 | 5,400,000 | 10,800,000 | 97,448,000 | 40,382,000 | 37,448,000 | 15,962,000 |
| hp & lease commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| provisions | 5,299,000 | 4,920,000 | 13,442,000 | 9,072,000 | 5,337,000 | 13,418,000 | 0 |
| total long term liabilities | 10,699,000 | 10,320,000 | 12,121,000 | 53,260,000 | 45,719,000 | 44,157,000 | 15,962,000 |
| total liabilities | 18,536,000 | 25,931,000 | 35,720,000 | 53,992,000 | 51,531,000 | 49,821,000 | 17,008,000 |
| net assets | 15,538,000 | 10,308,000 | 4,832,000 | 3,299,000 | 3,743,000 | 1,022,000 | -1,082,000 |
| total shareholders funds | 15,538,000 | 10,308,000 | 4,832,000 | 3,299,000 | 3,743,000 | 1,022,000 | -1,082,000 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | |
|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||
| Operating Profit | 5,842,000 | 5,690,000 | 5,092,000 | 6,951,000 | 5,909,000 | 340,000 | -87,000 |
| Depreciation | 2,243,000 | 2,365,000 | 2,245,000 | 2,303,000 | 3,527,000 | 2,324,000 | 0 |
| Amortisation | 4,000 | 5,000 | 0 | 0 | 0 | 0 | 0 |
| Tax | -359,000 | -114,000 | -443,000 | -312,000 | -124,000 | -179,000 | 2,000 |
| Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debtors | -80,000 | -42,000 | -16,493,000 | 6,274,000 | 9,464,000 | 2,201,000 | 0 |
| Creditors | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accruals and Deferred Income | 51,000 | -22,342,000 | 22,867,000 | 344,000 | 124,000 | -782,000 | 1,046,000 |
| Deferred Taxes & Provisions | 379,000 | -8,522,000 | 4,370,000 | 3,735,000 | -8,081,000 | 13,418,000 | 0 |
| Cash flow from operations | 8,240,000 | -22,876,000 | 50,624,000 | 6,747,000 | -8,109,000 | 12,920,000 | 961,000 |
| Investing Activities | |||||||
| capital expenditure | |||||||
| Change in Investments | 0 | 0 | 0 | -934,000 | 0 | -14,990,000 | 15,924,000 |
| cash flow from investments | |||||||
| Financing Activities | |||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | -7,825,000 | 14,354,000 | 0 | -24,000 | 24,000 | 0 | 0 |
| Other Short Term Loans | 0 | 0 | 0 | -5,400,000 | 0 | 5,400,000 | 0 |
| Long term loans | 0 | -5,400,000 | -86,648,000 | 57,066,000 | 2,934,000 | 21,486,000 | 15,962,000 |
| Hire Purchase and Lease Commitments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| other long term liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| share issue | |||||||
| interest | -253,000 | -100,000 | -3,116,000 | -3,156,000 | -3,064,000 | -2,153,000 | -38,000 |
| cash flow from financing | -8,078,000 | 8,854,000 | -89,764,000 | 48,486,000 | -106,000 | 27,433,000 | 15,924,000 |
| cash and cash equivalents | |||||||
| cash | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
kellas north sea 2 limited Credit Report and Business Information
Kellas North Sea 2 Limited Competitor Analysis
Perform a competitor analysis for kellas north sea 2 limited by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mid companies, companies in SW1H area or any other competitors across 12 key performance metrics.
kellas north sea 2 limited Ownership
KELLAS NORTH SEA 2 LIMITED group structure
Kellas North Sea 2 Limited has 1 subsidiary company.
Ultimate parent company
SILVERSTREAM HOLDINGS LTD
#0119497
2 parents
KELLAS NORTH SEA 2 LIMITED
10778448
1 subsidiary
kellas north sea 2 limited directors
Kellas North Sea 2 Limited currently has 2 directors. The longest serving directors include Mr Thomas Luypaert (Jan 2020) and Mr Nathan Morgan (Feb 2023).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Thomas Luypaert | United Kingdom | 37 years | Jan 2020 | - | Director |
| Mr Nathan Morgan | Scotland | 47 years | Feb 2023 | - | Director |
P&L
December 2023turnover
8.2m
0%
operating profit
5.8m
+3%
gross margin
72.3%
+2.49%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
15.5m
+0.51%
total assets
34.1m
-0.06%
cash
0
0%
net assets
Total assets minus all liabilities
kellas north sea 2 limited company details
company number
10778448
Type
Private limited with Share Capital
industry
64209 - Activities of other holding companies (not including agricultural, production, construction, distribution and financial services holding companies) n.e.c.
incorporation date
May 2017
age
8
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
antin north sea 2 limited (September 2019)
accountant
-
auditor
ERNST & YOUNG LLP
address
suite 1 7th floor, 50 broadway, london, SW1H 0BL
Bank
-
Legal Advisor
-
kellas north sea 2 limited Charges & Mortgages
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 3 charges/mortgages relating to kellas north sea 2 limited. Currently there are 1 open charges and 2 have been satisfied in the past.
kellas north sea 2 limited Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
Click to start generating capital raising & share issue transactions for KELLAS NORTH SEA 2 LIMITED. This can take several minutes, an email will notify you when this has completed.
kellas north sea 2 limited Companies House Filings - See Documents
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