spirit energy north sea oil limited

spirit energy north sea oil limited Company Information

Share SPIRIT ENERGY NORTH SEA OIL LIMITED
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Company Number

SC210361

Industry

Extraction of crude petroleum

 

Shareholders

spirit energy limited

Group Structure

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Contact

Registered Address

5th floor, iq building 15 justice mill lane, aberdeen, AB11 6EQ

spirit energy north sea oil limited Estimated Valuation

£0

Pomanda estimates the enterprise value of SPIRIT ENERGY NORTH SEA OIL LIMITED at £0 based on a Turnover of £1.1m and -20.39x industry multiple (adjusted for size and gross margin).

spirit energy north sea oil limited Estimated Valuation

£753.5m

Pomanda estimates the enterprise value of SPIRIT ENERGY NORTH SEA OIL LIMITED at £753.5m based on an EBITDA of £-17.1m and a -43.99x industry multiple (adjusted for size and gross margin).

spirit energy north sea oil limited Estimated Valuation

£34.7m

Pomanda estimates the enterprise value of SPIRIT ENERGY NORTH SEA OIL LIMITED at £34.7m based on Net Assets of £26.4m and 1.31x industry multiple (adjusted for liquidity).

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Spirit Energy North Sea Oil Limited Overview

Spirit Energy North Sea Oil Limited is a live company located in aberdeen, AB11 6EQ with a Companies House number of SC210361. It operates in the extraction of crude petroleum sector, SIC Code 06100. Founded in August 2000, it's largest shareholder is spirit energy limited with a 100% stake. Spirit Energy North Sea Oil Limited is a mature, small sized company, Pomanda has estimated its turnover at £1.1m with declining growth in recent years.

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Spirit Energy North Sea Oil Limited Health Check

Pomanda's financial health check has awarded Spirit Energy North Sea Oil Limited a 1 rating. We use a traffic light system to show it exceeds the industry average on 1 measures and has 7 areas for improvement. Company Health Check FAQs

Health Check Image
Health Rating1out of 5
positive_score

1 Strong

positive_score

1 Regular

positive_score

7 Weak

size

Size

annual sales of £1.1m, make it smaller than the average company (£57.8m)

£1.1m - Spirit Energy North Sea Oil Limited

£57.8m - Industry AVG

growth

Growth

3 year (CAGR) sales growth of -73%, show it is growing at a slower rate (13.3%)

-73% - Spirit Energy North Sea Oil Limited

13.3% - Industry AVG

production

Production

with a gross margin of -1541%, this company has a higher cost of product (42.1%)

-1541% - Spirit Energy North Sea Oil Limited

42.1% - Industry AVG

profitability

Profitability

an operating margin of -1620.9% make it less profitable than the average company (30.2%)

-1620.9% - Spirit Energy North Sea Oil Limited

30.2% - Industry AVG

employees

Employees

with 1 employees, this is below the industry average (54)

1 - Spirit Energy North Sea Oil Limited

54 - Industry AVG

paystructure

Pay Structure

There is insufficient data available for this Key Performance Indicator!

- - Spirit Energy North Sea Oil Limited

- - Industry AVG

efficiency

Efficiency

resulting in sales per employee of £1.1m, this is equally as efficient (£1.1m)

£1.1m - Spirit Energy North Sea Oil Limited

£1.1m - Industry AVG

debtordays

Debtor Days

There is insufficient data available for this Key Performance Indicator!

- - Spirit Energy North Sea Oil Limited

- - Industry AVG

creditordays

Creditor Days

its suppliers are paid after 30 days, this is slower than average (26 days)

30 days - Spirit Energy North Sea Oil Limited

26 days - Industry AVG

stockdays

Stock Days

it holds stock equivalent to 24 days, this is more than average (19 days)

24 days - Spirit Energy North Sea Oil Limited

19 days - Industry AVG

cashbalance

Cash Balance

There is insufficient data available for this Key Performance Indicator!

- - Spirit Energy North Sea Oil Limited

- - Industry AVG

debtlevel

Debt Level

it has a ratio of liabilities to total assets of 80.7%, this is a higher level of debt than the average (68.8%)

80.7% - Spirit Energy North Sea Oil Limited

68.8% - Industry AVG

SPIRIT ENERGY NORTH SEA OIL LIMITED financials

EXPORTms excel logo

Spirit Energy North Sea Oil Limited's latest turnover from December 2023 is £1.1 million and the company has net assets of £26.4 million. According to their latest financial statements, we estimate that Spirit Energy North Sea Oil Limited has 1 employee and maintains cash reserves of 0 as reported in the balance sheet.

Data source: Companies HousePomanda Estimates

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Turnover1,057,00011,722,00055,475,00056,046,00077,672,000102,084,00051,340,00056,292,00094,549,000151,897,000193,535,000282,861,000253,999,000273,303,000258,047,000
Other Income Or Grants-363,00058,0000000000000000
Cost Of Sales16,982,00038,995,00047,009,00031,655,00051,944,00082,651,00057,484,00067,935,00096,107,00095,227,000135,294,000142,339,000143,312,000183,948,000234,642,000
Gross Profit-16,288,000-27,215,0008,466,00024,391,00025,728,00019,433,000-6,144,000-11,643,000-1,558,00056,670,00058,241,000140,522,000110,687,00089,355,00023,405,000
Admin Expenses845,0001,162,00010,865,00032,594,0006,324,0003,798,000-26,452,000-2,644,000-6,047,000109,927,00023,019,00052,016,0007,307,0009,205,00050,218,000
Operating Profit-17,133,000-28,377,000-2,399,000-8,203,00019,404,00015,635,00020,308,000-8,999,0004,489,000-53,257,00035,222,00088,506,000103,380,00080,150,000-26,813,000
Interest Payable2,000,0002,341,0001,803,0003,137,0004,416,0002,340,0003,944,0004,248,0005,045,0003,361,0002,935,00019,821,00032,869,00013,005,0007,376,000
Interest Receivable5,132,0002,195,000369,0001,851,0003,901,0001,920,00011,572,00010,457,0008,000729,000177,00023,198,00033,548,00012,059,0009,110,000
Pre-Tax Profit-14,001,000-28,523,000-3,833,000-9,489,00018,889,00017,147,00022,791,000-30,035,000-13,170,000-73,584,00032,464,00091,883,000104,059,00079,204,000-25,079,000
Tax-644,00017,141,00033,505,000-11,756,000-21,447,000-389,000-27,300,000156,0008,862,00017,982,000-26,382,0007,081,000-52,896,00021,212,00037,398,000
Profit After Tax-14,645,000-11,382,00029,672,000-21,245,000-2,558,00016,758,000-4,509,000-29,879,000-4,308,000-55,602,0006,082,00098,964,00051,163,000100,416,00012,319,000
Dividends Paid0150,000,00000000000000035,000,000
Retained Profit-14,645,000-161,382,00029,672,000-21,245,000-2,558,00016,758,000-4,509,000-29,879,000-4,308,000-55,602,0006,082,00098,964,00051,163,000100,416,000-22,681,000
Employee Costs0000014,231,5999,437,91413,478,68519,058,71322,129,33324,644,60232,396,51133,737,26932,376,8410
Number Of Employees111838681123911331541962633473604000
EBITDA*-17,130,000-25,702,00014,055,00010,224,00027,557,00046,821,00047,333,000-381,00026,408,000-25,445,00077,895,000149,731,000144,851,000129,551,00055,499,000

* Earnings Before Interest, Tax, Depreciation and Amortisation

Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Tangible Assets198,000201,00014,290,000116,416,000174,908,00083,830,00099,181,000121,026,000103,615,000112,861,000157,687,000144,062,000231,630,000223,282,000296,526,000
Intangible Assets0000000004,0006,399,00025,715,00028,341,0001,821,0000
Investments & Other90,236,000217,443,000384,949,000716,000451,0001,439,00000000708,00011,000552,00060,000
Debtors (Due After 1 year)00042,077,00064,778,0000000000000
Total Fixed Assets90,434,000217,644,000399,239,00077,483,000114,530,00083,830,00099,181,000121,026,000103,615,000112,865,000164,086,000169,777,000259,971,000225,103,000296,526,000
Stock & work in progress1,138,000929,0004,604,0005,432,00010,816,0006,280,0006,220,0001,748,0003,800,0004,163,00011,590,0006,985,0008,393,0002,888,0004,755,000
Trade Debtors0011,147,0005,589,00007,258,00012,608,0008,544,0008,222,00014,175,0003,670,00016,170,00010,474,00014,655,00010,384,000
Group Debtors42,213,00046,000229,000316,075,000342,174,000318,195,000310,195,000327,918,000335,935,000297,716,000264,996,000312,863,000973,013,000667,025,000349,230,000
Misc Debtors1,951,0003,185,0004,198,0006,304,0007,424,0007,016,0006,421,0001,354,0001,491,0002,470,00012,806,00027,205,00047,926,00026,583,00033,025,000
Cash01,570,000362,000123,000466,000276,0000196,0000232,0001,106,0001,155,0001,882,0003,198,000201,000
misc current assets788,0006,065,000761,0003,858,0001,979,0004,158,0002,117,0007,215,00024,290,00045,008,000126,863,0006,276,0002,388,0003,227,0007,779,000
total current assets46,090,00011,795,00021,301,000337,381,000362,859,000343,183,000337,561,000346,975,000373,738,000363,764,000421,031,000370,654,0001,044,076,000717,576,000405,374,000
total assets136,524,000229,439,000420,540,000414,864,000477,389,000427,013,000436,742,000468,001,000477,353,000476,629,000585,117,000540,431,0001,304,047,000942,679,000701,900,000
Bank overdraft12,745,00000000160,00004,779,000000000
Bank loan000000000000000
Trade Creditors 1,427,000512,000188,000791,000353,00053,0002,438,000519,0001,281,0002,191,0001,792,0001,645,0002,904,0005,933,00012,678,000
Group/Directors Accounts53,00053,0001,771,000000000000000
other short term finances4,0009,485,00002,320,0003,489,0001,900,00000002,044,0001,736,0001,084,000210,0001,456,000
hp & lease commitments0012,662,00012,204,00010,561,0000000000000
other current liabilities75,775,000119,154,00072,685,00019,289,00056,556,00051,956,00074,453,00072,640,00063,363,00038,049,00081,491,000105,802,000921,971,000668,722,000475,365,000
total current liabilities90,004,000129,204,00087,306,00034,604,00070,959,00053,909,00077,051,00073,159,00069,423,00040,240,00085,327,000109,183,000925,959,000674,865,000489,499,000
loans0123,000724,00032,143,00062,294,000270,0002,398,00000090,813,00001,220,0004,675,0004,515,000
hp & lease commitments003,180,00015,699,00030,842,0000000000000
Accruals and Deferred Income000270,000411,000461,000278,00000000000
other liabilities000000000001,828,0003,800,00000
provisions20,124,00059,700,000126,700,000381,148,000361,638,000351,296,000349,558,000416,282,000383,866,000431,528,000271,430,000320,958,000405,476,000287,884,000367,928,000
total long term liabilities20,124,00059,823,000130,604,000207,288,000212,682,000176,379,000176,256,000208,141,000191,933,000215,764,000226,528,000162,307,000207,758,000148,617,000188,479,000
total liabilities110,128,000189,027,000217,910,000241,892,000283,641,000230,288,000253,307,000281,300,000261,356,000256,004,000311,855,000271,490,0001,133,717,000823,482,000677,978,000
net assets26,396,00040,412,000202,630,000172,972,000193,748,000196,725,000183,435,000186,701,000215,997,000220,625,000273,262,000268,941,000170,330,000119,197,00023,922,000
total shareholders funds26,396,00040,412,000202,630,000172,972,000193,748,000196,725,000183,435,000186,701,000215,997,000220,625,000273,262,000268,941,000170,330,000119,197,00023,922,000
Dec 2023Dec 2022Dec 2021Dec 2020Dec 2019Dec 2018Dec 2017Dec 2016Dec 2015Dec 2014Dec 2013Dec 2012Dec 2011Dec 2010Dec 2009
Operating Activities
Operating Profit-17,133,000-28,377,000-2,399,000-8,203,00019,404,00015,635,00020,308,000-8,999,0004,489,000-53,257,00035,222,00088,506,000103,380,00080,150,000-26,813,000
Depreciation3,0002,675,00016,454,00018,427,0008,153,00031,186,00027,025,0008,618,00021,919,00027,812,00042,673,00061,225,00041,471,00049,401,00082,312,000
Amortisation000000000000000
Tax-644,00017,141,00033,505,000-11,756,000-21,447,000-389,000-27,300,000156,0008,862,00017,982,000-26,382,0007,081,000-52,896,00021,212,00037,398,000
Stock209,000-3,675,000-828,000-5,384,0004,536,00060,0004,472,000-2,052,000-363,000-7,427,0004,605,000-1,408,0005,505,000-1,867,0004,755,000
Debtors40,933,000-12,343,000-354,471,000-44,331,00081,907,0003,245,000-8,592,000-7,832,00031,287,00032,889,000-74,766,000-675,175,000323,150,000315,624,000392,639,000
Creditors915,000324,000-603,000438,000300,000-2,385,0001,919,000-762,000-910,000399,000147,000-1,259,000-3,029,000-6,745,00012,678,000
Accruals and Deferred Income-43,379,00046,469,00053,126,000-37,408,0004,550,000-22,314,0002,091,0009,277,00025,314,000-43,442,000-24,311,000-816,169,000253,249,000193,357,000475,365,000
Deferred Taxes & Provisions-39,576,000-67,000,000-254,448,00019,510,00010,342,0001,738,000-66,724,00032,416,000-47,662,000160,098,000-49,528,000-84,518,000117,592,000-80,044,000367,928,000
Cash flow from operations-140,956,000-12,750,000200,934,00030,723,000-65,141,00020,166,000-38,561,00050,590,000-18,912,00084,130,00047,982,000-68,551,000131,112,000-56,426,000551,474,000
Investing Activities
capital expenditure011,414,00085,672,00040,065,000-99,231,000-15,835,000-5,180,000-26,029,000-12,669,00023,409,000-36,982,00028,969,000-76,339,00022,022,000-378,838,000
Change in Investments-127,207,000-167,506,000384,233,000265,000-988,0001,439,0000000-708,000697,000-541,000492,00060,000
cash flow from investments127,207,000178,920,000-298,561,00039,800,000-98,243,000-17,274,000-5,180,000-26,029,000-12,669,00023,409,000-36,274,00028,272,000-75,798,00021,530,000-378,898,000
Financing Activities
Bank loans000000000000000
Group/Directors Accounts0-1,718,0001,771,000000000000000
Other Short Term Loans -9,481,0009,485,000-2,320,000-1,169,0001,589,0001,900,000000-2,044,000308,000652,000874,000-1,246,0001,456,000
Long term loans-123,000-601,000-31,419,000-30,151,00062,024,000-2,128,0002,398,00000-90,813,00090,813,000-1,220,000-3,455,000160,0004,515,000
Hire Purchase and Lease Commitments0-15,842,000-12,061,000-13,500,00041,403,0000000000000
other long term liabilities0000000000-1,828,000-1,972,0003,800,00000
share issue629,000-836,000-14,000469,000-419,000-3,468,0001,243,000583,000-320,0002,965,000-1,761,000-353,000-30,000-5,141,00046,603,000
interest3,132,000-146,000-1,434,000-1,286,000-515,000-420,0007,628,0006,209,000-5,037,000-2,632,000-2,758,0003,377,000679,000-946,0001,734,000
cash flow from financing-5,843,000-9,658,000-45,477,000-45,637,000104,082,000-4,116,00011,269,0006,792,000-5,357,000-92,524,00084,774,000484,0001,868,000-7,173,00054,308,000
cash and cash equivalents
cash-1,570,0001,208,000239,000-343,000190,000276,000-196,000196,000-232,000-874,000-49,000-727,000-1,316,0002,997,000201,000
overdraft12,745,0000000-160,000160,000-4,779,0004,779,000000000
change in cash-14,315,0001,208,000239,000-343,000190,000436,000-356,0004,975,000-5,011,000-874,000-49,000-727,000-1,316,0002,997,000201,000

spirit energy north sea oil limited Credit Report and Business Information

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Low Risk50 - 70
Moderate Risk30 - 50
High Risk20 - 30
Very High Risk0 - 20
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Spirit Energy North Sea Oil Limited Competitor Analysis

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Perform a competitor analysis for spirit energy north sea oil limited by selecting its closest rivals, whether from the MINING AND QUARRYING sector, other small companies, companies in AB11 area or any other competitors across 12 key performance metrics.

spirit energy north sea oil limited Ownership

SPIRIT ENERGY NORTH SEA OIL LIMITED group structure

Spirit Energy North Sea Oil Limited has no subsidiary companies.

Ultimate parent company

2 parents

SPIRIT ENERGY NORTH SEA OIL LIMITED

SC210361

SPIRIT ENERGY NORTH SEA OIL LIMITED Shareholders

spirit energy limited 100%

spirit energy north sea oil limited directors

Spirit Energy North Sea Oil Limited currently has 3 directors. The longest serving directors include Mr Girish Kabra (Aug 2022) and Mr Scott McGinigal (Sep 2023).

officercountryagestartendrole
Mr Girish KabraScotland46 years Aug 2022- Director
Mr Scott McGinigal53 years Sep 2023- Director
Mr Nicholas Harrison58 years Jul 2024- Director

P&L

December 2023

turnover

1.1m

-91%

operating profit

-17.1m

-40%

gross margin

-1540.9%

+563.72%

turnover

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

Balance Sheet

December 2023

net assets

26.4m

-0.35%

total assets

136.5m

-0.4%

cash

0

-1%

net assets

Total assets minus all liabilities

spirit energy north sea oil limited company details

company number

SC210361

Type

Private limited with Share Capital

industry

06100 - Extraction of crude petroleum

incorporation date

August 2000

age

25

incorporated

UK

ultimate parent company

accounts

Full Accounts

last accounts submitted

December 2023

previous names

centrica north sea oil limited (December 2017)

venture north sea oil limited (September 2011)

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accountant

-

auditor

DELOITTE LLP

address

5th floor, iq building 15 justice mill lane, aberdeen, AB11 6EQ

Bank

BARCLAYS BANK PLC

Legal Advisor

-

spirit energy north sea oil 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 5 charges/mortgages relating to spirit energy north sea oil limited. Currently there are 0 open charges and 5 have been satisfied in the past.

spirit energy north sea oil 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 ENERGY NORTH SEA OIL LIMITED. This can take several minutes, an email will notify you when this has completed.

spirit energy north sea oil limited Companies House Filings - See Documents

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