HORNSEA 1 LIMITED
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Cash
£9.5M
-69.7% lowest in 3 filed years
Net assets
£364M
-17% first positive since 2023
Employees
0
Average over period
Profit before tax
-£36M
+65.1% highest in 3 filed years
Watch the reel
Our short-form breakdown of HORNSEA 1 LIMITED's latest filing
Hornsea 1 operates a massive offshore wind farm in the North Sea. They pulled in £605m in revenue last year, but the heavy debt required to build the infrastructure takes a massive bite out of the profits. 💨
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £573,678,742 | £564,612,834 | £605,357,671 | +7.2% | |
| Operating profit | £15,322,588 | £26,765,337 | £80,333,487 | +200.1% | |
| Profit before tax | -£126,560,201 | -£102,153,231 | -£35,626,297 | +65.1% | |
| Net profit | -£177,388,321 | -£149,226,960 | -£74,697,726 | +49.9% | |
| Cash | £34,579,391 | £31,469,839 | £9,521,763 | -69.7% | |
| Total assets less current liabilities | £4,054,503,623 | £3,610,268,481 | £3,233,447,731 | -10.4% | |
| Net assets | -£587,473,911 | £438,246,951 | £363,549,225 | -17% | |
| Equity | -£587,473,911 | £438,246,951 | £363,549,225 | -17% | |
| Average employees | — | 0 | 0 | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | — | £0 | £0 | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 2.7% | 4.7% | 13.3% | |
| Net margin | -30.9% | -26.4% | -12.3% | |
| Return on capital employed | 0.4% | 0.7% | 2.5% | |
| Gearing (liabilities / total assets) | 114.3% | 88.1% | 89.0% | |
| Current ratio | 2.69x | 1.99x | 1.86x | |
| Interest cover | 0.10x | 0.20x | 0.66x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- HORNSEA 1 LIMITED 2017-11-22 → present
- HERON WIND LIMITED 2011-05-19 → 2017-11-22
Audit & accounting basis
- Accounting basis
- UK-adopted International Accounting Standards
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis... Whilst potentially severe but plausible downside scenarios have been identified, the directors have concluded that, based on the mitigations put in place, these risks and uncertainties do not impact the going concern conclusion.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 47 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ANDREW, Edmund George | Director | 2023-09-29 | Jan 1987 | British |
| BURGESS, Benjamin Michael | Director | 2026-04-23 | Jul 1982 | British |
| CLAXTON, Samuel James | Director | 2025-03-07 | Nov 1988 | British |
| DI SALLE, Filippo | Director | 2022-10-27 | Apr 1972 | Italian |
| JENSEN, Thomas Krogh | Director | 2025-05-27 | Nov 1972 | Danish |
| POWER, Fiona Catherine | Director | 2025-09-23 | Aug 1987 | British |
| RIDLEY, Matthew Derek George | Director | 2026-04-23 | Jan 1978 | British |
| SANCHO PERIS, Sara | Director | 2026-04-23 | Aug 1979 | Spanish |
| SWAIN, Martin James | Director | 2026-04-23 | Dec 1975 | British |
| YENDOLE, Hugh Alistair | Director | 2025-05-27 | Feb 1968 | British |
Show 47 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOWN, Andrew John | Secretary | 2014-06-04 | 2015-02-04 |
| HARDE, Joern | Secretary | 2011-05-19 | 2014-06-04 |
| AGRAWAL, Deepak Kumar | Director | 2018-11-26 | 2022-11-01 |
| BISCHOFF, Wolfgang Stefan, Dr | Director | 2014-05-19 | 2015-02-04 |
| BISCHOFF, Wolfgang | Director | 2011-05-19 | 2014-05-19 |
| BOWYER, Richard Charles | Director | 2013-02-14 | 2015-02-04 |
| CHESHIRE, Brent | Director | 2015-11-09 | 2017-06-01 |
| CLARK, Duncan Guy | Director | 2013-02-27 | 2014-01-29 |
| DUNN, Ian Robert | Director | 2024-07-29 | 2026-04-23 |
| EINSET, Erik | Director | 2018-11-26 | 2022-10-27 |
| GEORGE, Philip Roger Perkins | Director | 2022-07-21 | 2022-10-27 |
| GRAY, Julian Charles | Director | 2022-07-21 | 2025-09-23 |
| HAWKES, Darren John | Director | 2015-11-09 | 2018-02-02 |
| HENNEMEYER, Paul | Director | 2011-10-06 | 2013-02-14 |
| HJELM, Jacob | Director | 2020-02-25 | 2024-10-31 |
| HOLST, Jesper Krarup | Director | 2012-08-24 | 2015-09-21 |
| KINSELLA, Andy | Director | 2014-05-19 | 2015-02-04 |
| KINSELLA, Andy | Director | 2011-05-19 | 2014-05-19 |
| KOLOF, Klaus | Director | 2011-05-19 | 2011-10-06 |
| KONDASKAR, Shivani Ajitkumar | Director | 2023-09-29 | 2025-06-13 |
| LILLEY, Stephen Bernard | Director | 2022-08-25 | 2023-05-01 |
| LINDHARDT, Johan Hee | Director | 2018-09-03 | 2019-01-11 |
| LINDHARDT, Johan Hee | Director | 2018-03-05 | 2018-08-31 |
| MØRCH, Henriette Holm | Director | 2017-06-01 | 2020-02-25 |
| NEUBERT, Martin | Director | 2014-11-03 | 2015-11-09 |
| O'CONNELL, Vanessa | Director | 2020-02-25 | 2021-05-31 |
| O'CONNELL, Vanessa | Director | 2018-06-25 | 2020-02-25 |
| ORD, Jonathan Nicholas | Director | 2024-07-29 | 2025-09-03 |
| ORD, Jonathan Nicholas | Director | 2022-11-01 | 2024-07-29 |
| PARRA ESTESO, Ramon | Director | 2023-05-01 | 2026-04-23 |
| PEDERSEN, Lars Thaaning, Mr. | Director | 2013-05-28 | 2014-11-03 |
| PEDERSEN, Per Alva Hjelmsted | Director | 2014-12-15 | 2014-12-15 |
| PEDERSEN, Per Alva Hjelmsted | Director | 2014-12-15 | 2015-11-09 |
| PEDERSEN, Per Hjelmsted | Director | 2011-12-16 | 2014-12-15 |
| SAROBE SCHURER, Thomas Dennis Elliot | Director | 2022-07-21 | 2022-08-25 |
| SHERRINGTON, Christopher Marshall | Director | 2014-01-29 | 2016-06-09 |
| SKAKKEBAEK, Christian Troels | Director | 2011-12-16 | 2013-02-27 |
| SMITH, Cameron Ewen | Director | 2014-04-23 | 2015-02-04 |
| SORENSON, Christina Grumstrup | Director | 2013-02-27 | 2013-05-28 |
| SYKES, Benjamin John | Director | 2015-11-09 | 2020-02-27 |
| VASUDEV, Partha | Director | 2024-03-01 | 2024-03-01 |
| WAKEFIELD, Nathan John | Director | 2022-10-27 | 2023-09-15 |
| WESTWOOD, Benjamin | Director | 2020-02-25 | 2025-03-17 |
| WESTWOOD, Benjamin | Director | 2019-02-22 | 2020-02-25 |
| WHELAN, Fintan Michael | Director | 2011-05-19 | 2014-04-23 |
| WINTER, Robert Guy Stewart | Director | 2011-05-19 | 2011-05-19 |
| YATES, Hamish Donald Stewart | Director | 2021-05-31 | 2023-09-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Hornsea 1 Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-01-17 | Active |
| Ørsted A/S | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-06-09 | Ceased 2018-01-17 |
Filing timeline
Last 20 of 218 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-12-05 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-23 | AA | accounts | Accounts with accounts type full | |
| 2026-05-05 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-05 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-01 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-01 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-01 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-05 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-12-05 | SH20 | capital | Legacy | |
| 2025-12-05 | CAP-SS | insolvency | Legacy | |
| 2025-12-05 | RESOLUTIONS | resolution | Resolution | |
| 2025-11-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-30 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-30 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-18 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-07 | AA | accounts | Accounts with accounts type full | |
| 2025-08-01 | CH01 | officers | Change person director company with change date | |
| 2025-06-18 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-17 | CH01 | officers | Change person director company with change date | |
| 2025-05-30 | RP04AP01 | officers | Second filing of director appointment with name |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 17
- Capital events
- 2
- Officers appointed
- 5
- Officers resigned
- 4
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.