spirit north sea gas limited
spirit north sea gas limited Company Information
Company Number
SC182822
Next Accounts
Sep 2025
Industry
Extraction of crude petroleum
Shareholders
spirit energy limited
Group Structure
View All
Contact
Registered Address
5th floor, iq building 15 justice mill lane, aberdeen, AB11 6EQ
Website
centrica.comspirit north sea gas limited Estimated Valuation
Pomanda estimates the enterprise value of SPIRIT NORTH SEA GAS LIMITED at £15.6m based on a Turnover of £15.6m and 1x industry multiple (adjusted for size and gross margin).
spirit north sea gas limited Estimated Valuation
Pomanda estimates the enterprise value of SPIRIT NORTH SEA GAS LIMITED at £16.4m based on an EBITDA of £7.6m and a 2.16x industry multiple (adjusted for size and gross margin).
spirit north sea gas limited Estimated Valuation
Pomanda estimates the enterprise value of SPIRIT NORTH SEA GAS LIMITED at £78.7m based on Net Assets of £59.9m and 1.31x industry multiple (adjusted for liquidity).
Edit your figures and get a professional valuation report.
Spirit North Sea Gas Limited Overview
Spirit North Sea Gas Limited is a live company located in aberdeen, AB11 6EQ with a Companies House number of SC182822. It operates in the extraction of crude petroleum sector, SIC Code 06100. Founded in February 1998, it's largest shareholder is spirit energy limited with a 100% stake. Spirit North Sea Gas Limited is a mature, mid sized company, Pomanda has estimated its turnover at £15.6m with unknown growth in recent years.
Upgrade for unlimited company reports & a free credit check
Spirit North Sea Gas Limited Health Check
Pomanda's financial health check has awarded Spirit North Sea Gas Limited a 3 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 £15.6m, make it smaller than the average company (£57.8m)
£15.6m - Spirit North Sea Gas Limited
£57.8m - Industry AVG
Growth
There is insufficient data available for this Key Performance Indicator!
- Spirit North Sea Gas Limited
- - Industry AVG
Production
with a gross margin of 24.8%, this company has a higher cost of product (42.1%)
24.8% - Spirit North Sea Gas Limited
42.1% - Industry AVG
Profitability
an operating margin of 22.2% make it less profitable than the average company (30.2%)
22.2% - Spirit North Sea Gas Limited
30.2% - Industry AVG
Employees
with 15 employees, this is below the industry average (54)
- Spirit North Sea Gas Limited
54 - Industry AVG
Pay Structure
There is insufficient data available for this Key Performance Indicator!
- Spirit North Sea Gas Limited
- - Industry AVG
Efficiency
resulting in sales per employee of £1m, this is equally as efficient (£1.1m)
- Spirit North Sea Gas Limited
£1.1m - Industry AVG
Debtor Days
it gets paid by customers after 4 days, this is earlier than average (25 days)
4 days - Spirit North Sea Gas Limited
25 days - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - Spirit North Sea Gas Limited
- - Industry AVG
Stock Days
it holds stock equivalent to 5 days, this is less than average (19 days)
5 days - Spirit North Sea Gas Limited
19 days - Industry AVG
Cash Balance
There is insufficient data available for this Key Performance Indicator!
- - Spirit North Sea Gas Limited
- - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 45.4%, this is a lower level of debt than the average (68.8%)
45.4% - Spirit North Sea Gas Limited
68.8% - Industry AVG
SPIRIT NORTH SEA GAS LIMITED financials
Spirit North Sea Gas Limited's latest turnover from December 2023 is £15.6 million and the company has net assets of £59.9 million. According to their latest financial statements, we estimate that Spirit North Sea Gas Limited has 15 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 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 15,553,000 | 71,225,000 | 7,053,000 | 0 | 0 | 0 | 0 | 0 | 0 | 212,264,000 | 287,961,000 | 262,505,000 | 282,563,000 | 198,248,000 | 232,226,000 |
| Other Income Or Grants | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Cost Of Sales | 11,693,000 | 11,446,000 | 706,000 | 0 | 0 | 156,581,000 | 125,573,000 | 162,600,000 | 154,961,000 | 179,213,000 | 151,336,000 | ||||
| Gross Profit | 3,860,000 | 59,779,000 | 6,347,000 | 0 | 0 | 55,683,000 | 162,388,000 | 99,905,000 | 127,602,000 | 19,035,000 | 80,890,000 | ||||
| Admin Expenses | 408,000 | 13,078,000 | -11,191,000 | 0 | 0 | 184,821,000 | 99,963,000 | 15,545,000 | -9,704,000 | 65,563,000 | 92,759,000 | ||||
| Operating Profit | 3,452,000 | 46,701,000 | 17,538,000 | -186,000 | -401,259,000 | 0 | -7,826,000 | 0 | -129,138,000 | 62,425,000 | 84,360,000 | 137,306,000 | -46,528,000 | -11,869,000 | |
| Interest Payable | 1,843,000 | 1,000 | 323,000 | 2,744,000 | 2,320,000 | 0 | 0 | 101,000 | 261,000 | 4,199,000 | 3,782,000 | 19,368,000 | 41,274,000 | 15,124,000 | 3,898,000 |
| Interest Receivable | 4,155,000 | 306,000 | 17,000 | 1,330,000 | 2,076,000 | 411,000 | 36,000 | 4,945,000 | 10,133,000 | 3,679,000 | 6,077,000 | 19,011,000 | 35,055,000 | 10,831,000 | 675,000 |
| Pre-Tax Profit | 5,764,000 | 47,006,000 | 20,643,000 | -1,600,000 | -401,503,000 | 411,000 | 3,061,000 | 5,647,000 | 10,563,000 | -129,479,000 | 64,720,000 | 84,003,000 | 131,087,000 | -50,821,000 | -15,092,000 |
| Tax | -6,556,000 | -24,224,000 | -13,393,000 | 1,670,000 | -150,000 | -88,000 | -1,415,000 | -2,186,000 | -6,106,000 | 106,723,000 | 3,079,000 | -8,112,000 | -118,953,000 | -1,406,000 | -39,031,000 |
| Profit After Tax | -792,000 | 22,782,000 | 7,250,000 | 70,000 | -401,653,000 | 323,000 | 1,646,000 | 3,461,000 | 4,457,000 | -22,756,000 | 67,799,000 | 75,891,000 | 12,134,000 | -52,227,000 | -54,123,000 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Profit | -792,000 | 22,782,000 | 7,250,000 | 70,000 | -401,653,000 | 323,000 | -5,282,000 | 4,854,000 | -114,542,000 | -22,756,000 | 67,799,000 | 75,891,000 | 12,134,000 | -52,227,000 | -54,123,000 |
| Employee Costs | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Number Of Employees | |||||||||||||||
| EBITDA* | 7,602,000 | 53,201,000 | 17,959,000 | -186,000 | -401,259,000 | 0 | -7,826,000 | 10,229,000 | 120,910,000 | 133,696,000 | 169,659,000 | 222,719,000 | 35,670,000 | 61,315,000 |
* 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 | 28,052,000 | 31,618,000 | 35,672,000 | 4,163,000 | 4,339,000 | 304,000 | 304,000 | 8,153,000 | 911,921,000 | 999,183,000 | 804,437,000 | 667,239,000 | 558,806,000 | 522,858,000 | 661,573,000 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 65,628,000 | 53,766,000 | 38,872,000 | 68,231,000 | 152,972,000 | 138,658,000 | 0 |
| Investments & Other | 360,000 | 360,000 | 19,252,000 | 4,163,000 | 4,339,000 | 304,000 | 304,000 | 8,130,000 | 8,130,000 | 8,130,000 | 8,130,000 | 11,326,000 | 11,326,000 | 11,326,000 | 15,442,000 |
| Debtors (Due After 1 year) | 78,982,000 | 76,250,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Fixed Assets | 107,394,000 | 108,228,000 | 54,924,000 | 4,163,000 | 4,339,000 | 304,000 | 304,000 | 8,153,000 | 977,549,000 | 1,052,949,000 | 843,309,000 | 735,470,000 | 711,778,000 | 661,516,000 | 661,573,000 |
| Stock & work in progress | 192,000 | 392,000 | 85,000 | 0 | 0 | 0 | 0 | 0 | 11,978,000 | 18,527,000 | 12,138,000 | 14,060,000 | 6,006,000 | 6,301,000 | 210,000 |
| Trade Debtors | 181,000 | 255,000 | 171,000 | 0 | 0 | 0 | 0 | 0 | 656,000 | 668,000 | 2,520,000 | 4,303,000 | 5,057,000 | 1,490,000 | 355,000 |
| Group Debtors | 0 | 0 | 2,000 | 12,083,000 | 11,873,000 | 286,171,000 | 293,482,000 | 234,353,000 | 713,682,000 | 371,171,000 | 342,116,000 | 602,267,000 | 1,001,173,000 | 634,852,000 | 417,667,000 |
| Misc Debtors | 1,835,000 | 721,000 | 902,000 | 0 | 9,000 | 9,000 | 9,000 | 58,000 | 5,495,000 | 20,311,000 | 19,222,000 | 14,339,000 | 99,313,000 | 65,890,000 | 35,162,000 |
| Cash | 0 | 87,000 | 1,000,000 | 1,000,000 | 1,001,000 | 1,123,000 | 116,000 | 132,000 | 0 | 1,465,000 | 348,000 | 611,000 | 2,538,000 | 3,720,000 | 5,322,000 |
| misc current assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 27,173,000 | 149,221,000 | 9,358,000 | 69,416,000 | 0 | 444,000 | 841,000 | 34,745,000 |
| total current assets | 2,208,000 | 1,455,000 | 2,160,000 | 13,083,000 | 12,883,000 | 287,303,000 | 293,607,000 | 261,716,000 | 881,032,000 | 421,500,000 | 445,760,000 | 635,580,000 | 1,114,531,000 | 713,094,000 | 493,461,000 |
| total assets | 109,602,000 | 109,683,000 | 57,084,000 | 17,246,000 | 17,222,000 | 287,607,000 | 293,911,000 | 269,869,000 | 1,858,581,000 | 1,474,449,000 | 1,289,069,000 | 1,371,050,000 | 1,826,309,000 | 1,374,610,000 | 1,155,034,000 |
| Bank overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,409,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Bank loan | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Creditors | 0 | 2,000 | 0 | 0 | 0 | 0 | 0 | 0 | 5,930,000 | 7,336,000 | 7,171,000 | 9,893,000 | 21,905,000 | 3,566,000 | 10,974,000 |
| Group/Directors Accounts | 29,104,000 | 28,941,000 | 1,849,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 13,336,000 | 11,032,000 | 12,454,000 | 1,557,000 | 10,424,000 | 8,183,000 | 9,166,000 | 25,000 | 1,106,720,000 | 488,477,000 | 326,957,000 | 559,041,000 | 1,059,348,000 | 797,511,000 | 479,485,000 |
| total current liabilities | 42,440,000 | 39,975,000 | 14,303,000 | 1,557,000 | 10,424,000 | 8,183,000 | 9,166,000 | 25,000 | 1,114,059,000 | 495,813,000 | 334,128,000 | 568,934,000 | 1,081,253,000 | 801,077,000 | 490,459,000 |
| loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 55,000 |
| 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 | 820,000 | 0 | 0 |
| other liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,218,000 | 1,200,000 |
| provisions | 7,287,000 | 6,410,000 | 6,450,000 | 0 | 0 | 0 | 0 | 4,442,000 | 1,122,380,000 | 1,297,472,000 | 1,117,508,000 | 957,632,000 | 976,808,000 | 649,570,000 | 700,170,000 |
| total long term liabilities | 7,287,000 | 6,410,000 | 6,450,000 | 0 | 0 | 0 | 0 | 2,221,000 | 561,190,000 | 648,736,000 | 558,754,000 | 478,816,000 | 489,224,000 | 326,003,000 | 351,340,000 |
| total liabilities | 49,727,000 | 46,385,000 | 20,753,000 | 1,557,000 | 10,424,000 | 8,183,000 | 9,166,000 | 2,246,000 | 1,675,249,000 | 1,144,549,000 | 892,882,000 | 1,047,750,000 | 1,570,477,000 | 1,127,080,000 | 841,799,000 |
| net assets | 59,875,000 | 63,298,000 | 36,331,000 | 15,689,000 | 6,798,000 | 279,424,000 | 284,745,000 | 267,623,000 | 183,332,000 | 329,900,000 | 396,187,000 | 323,300,000 | 255,832,000 | 247,530,000 | 313,235,000 |
| total shareholders funds | 59,875,000 | 63,298,000 | 36,331,000 | 15,689,000 | 6,798,000 | 279,424,000 | 284,745,000 | 267,623,000 | 183,332,000 | 329,900,000 | 396,187,000 | 323,300,000 | 255,832,000 | 247,530,000 | 313,235,000 |
| 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 | 3,452,000 | 46,701,000 | 17,538,000 | -186,000 | -401,259,000 | 0 | -7,826,000 | 0 | -129,138,000 | 62,425,000 | 84,360,000 | 137,306,000 | -46,528,000 | -11,869,000 | |
| Depreciation | 4,150,000 | 6,500,000 | 421,000 | 0 | 0 | 0 | 10,065,000 | 108,578,000 | 225,858,000 | 71,271,000 | 85,299,000 | 85,413,000 | 82,198,000 | 73,184,000 | |
| Amortisation | 0 | 0 | 0 | 0 | 0 | 0 | 164,000 | 0 | 24,190,000 | 0 | 0 | 0 | 0 | 0 | |
| Tax | -6,556,000 | -24,224,000 | -13,393,000 | 1,670,000 | -150,000 | -88,000 | -1,415,000 | -2,186,000 | -6,106,000 | 106,723,000 | 3,079,000 | -8,112,000 | -118,953,000 | -1,406,000 | -39,031,000 |
| Stock | -200,000 | 307,000 | 85,000 | 0 | 0 | 0 | 0 | -11,978,000 | -6,549,000 | 6,389,000 | -1,922,000 | 8,054,000 | -295,000 | 6,091,000 | 210,000 |
| Debtors | 3,772,000 | 76,151,000 | -11,008,000 | 201,000 | -274,298,000 | -7,311,000 | 59,080,000 | -485,422,000 | 327,683,000 | 28,292,000 | -257,051,000 | -484,634,000 | 403,311,000 | 249,048,000 | 453,184,000 |
| Creditors | -2,000 | 2,000 | 0 | 0 | 0 | 0 | 0 | -5,930,000 | -1,406,000 | 165,000 | -2,722,000 | -12,012,000 | 18,339,000 | -7,408,000 | 10,974,000 |
| Accruals and Deferred Income | 2,304,000 | -1,422,000 | 10,897,000 | -8,867,000 | 2,241,000 | -983,000 | 9,141,000 | -1,106,695,000 | 618,243,000 | 161,520,000 | -232,084,000 | -501,127,000 | 262,657,000 | 318,026,000 | 479,485,000 |
| Deferred Taxes & Provisions | 877,000 | -40,000 | 6,450,000 | 0 | 0 | 0 | -4,442,000 | -1,117,938,000 | -175,092,000 | 179,964,000 | 159,876,000 | -19,176,000 | 327,238,000 | -50,600,000 | 700,170,000 |
| Cash flow from operations | 653,000 | -48,941,000 | 32,836,000 | -7,584,000 | -124,870,000 | 6,240,000 | -1,725,120,000 | 534,601,000 | 320,818,000 | 105,812,000 | 308,984,000 | 39,143,000 | 759,519,000 | ||
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | 0 | -18,892,000 | 15,089,000 | -176,000 | 4,035,000 | 0 | -7,826,000 | 0 | 0 | 0 | -3,196,000 | 0 | 0 | -4,116,000 | 15,442,000 |
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Group/Directors Accounts | 163,000 | 27,092,000 | 1,849,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 0 | 0 | 0 | 0 | 0 | 0 | -55,000 | 55,000 |
| 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 | -1,218,000 | 18,000 | 1,200,000 |
| share issue | |||||||||||||||
| interest | 2,312,000 | 305,000 | -306,000 | -1,414,000 | -244,000 | 411,000 | 36,000 | 4,844,000 | 9,872,000 | -520,000 | 2,295,000 | -357,000 | -6,219,000 | -4,293,000 | -3,223,000 |
| cash flow from financing | -156,000 | 31,582,000 | 14,935,000 | 7,407,000 | 128,783,000 | -5,233,000 | 22,440,000 | 84,281,000 | -22,154,000 | -44,051,000 | 7,383,000 | -8,780,000 | -11,269,000 | -17,808,000 | 365,390,000 |
| cash and cash equivalents | |||||||||||||||
| cash | -87,000 | -913,000 | 0 | -1,000 | -122,000 | 1,007,000 | -16,000 | 132,000 | -1,465,000 | 1,117,000 | -263,000 | -1,927,000 | -1,182,000 | -1,602,000 | 5,322,000 |
| overdraft | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,409,000 | 1,409,000 | 0 | 0 | 0 | 0 | 0 | 0 |
| change in cash | -87,000 | -913,000 | 0 | -1,000 | -122,000 | 1,007,000 | -16,000 | 1,541,000 | -2,874,000 | 1,117,000 | -263,000 | -1,927,000 | -1,182,000 | -1,602,000 | 5,322,000 |
spirit north sea gas limited Credit Report and Business Information
Spirit North Sea Gas Limited Competitor Analysis
Perform a competitor analysis for spirit north sea gas limited by selecting its closest rivals, whether from the MINING AND QUARRYING sector, other mid companies, companies in AB11 area or any other competitors across 12 key performance metrics.
spirit north sea gas limited Ownership
SPIRIT NORTH SEA GAS LIMITED group structure
Spirit North Sea Gas Limited has 3 subsidiary companies.
Ultimate parent company
2 parents
SPIRIT NORTH SEA GAS LIMITED
SC182822
3 subsidiaries
spirit north sea gas limited directors
Spirit North Sea Gas Limited currently has 3 directors. The longest serving directors include Mr Girish Kabra (Aug 2022) and Mr Scott McGinigal (Sep 2023).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Girish Kabra | Scotland | 46 years | Aug 2022 | - | Director |
| Mr Scott McGinigal | 53 years | Sep 2023 | - | Director | |
| Mr Nicholas Harrison | 58 years | Jul 2024 | - | Director |
P&L
December 2023turnover
15.6m
-78%
operating profit
3.5m
-93%
gross margin
24.9%
-70.43%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
59.9m
-0.05%
total assets
109.6m
0%
cash
0
-1%
net assets
Total assets minus all liabilities
spirit north sea gas limited company details
company number
SC182822
Type
Private limited with Share Capital
industry
06100 - Extraction of crude petroleum
incorporation date
February 1998
age
27
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
December 2023
previous names
centrica north sea gas limited (December 2017)
venture north sea gas limited (September 2011)
See moreaccountant
-
auditor
DELLOITTE LLP
address
5th floor, iq building 15 justice mill lane, aberdeen, AB11 6EQ
Bank
BARCLAYS BANK PLC
Legal Advisor
-
spirit north sea gas 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 7 charges/mortgages relating to spirit north sea gas limited. Currently there are 0 open charges and 7 have been satisfied in the past.
spirit north sea gas 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 SPIRIT NORTH SEA GAS LIMITED. This can take several minutes, an email will notify you when this has completed.
spirit north sea gas limited Companies House Filings - See Documents
| date | description | view/download |
|---|
