FORTITUDE SHIPPING LIMITED
Operating as a wholly owned subsidiary of the Petredec Group, the company manages a fleet of handy-size gas carriers dedicated to the maritime transport of liquefied petroleum gas, ethane, olefins, and ammonia.
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Cash
£5.2m
USD 6,988,000
-7.3% lowest in 3 filed years
Net assets
£1.9m
USD 2,500,000
+38% vs 2024
Employees
8
+33.3% highest in 3 filed years
Profit before tax
£17m
USD 23,162,000
-32.2% vs 2024
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 | £109,206,986 | £114,488,294 | £99,004,088 | -13.5% | |
| Operating profit | £24,666,667 | £33,972,501 | £23,603,865 | -30.5% | |
| Profit before tax | £15,163,880 | £25,406,912 | £17,214,418 | -32.2% | |
| Net profit | £15,124,489 | £25,380,899 | £17,196,581 | -32.2% | |
| Cash | £6,489,781 | £5,603,122 | £5,193,608 | -7.3% | |
| Total assets less current liabilities | — | £71,333,333 | £39,316,983 | -44.9% | |
| Net assets | £1,978,447 | £1,346,711 | £1,858,045 | +38% | |
| Equity | £1,978,447 | £1,346,711 | £1,858,045 | +38% | |
| Average employees | 4 | 6 | 8 | +33.3% | |
| Wages | £2,255,667 | £2,548,495 | £2,124,861 | -16.6% | |
| Directors' remuneration | — | £1,869,194 | £1,218,878 | -34.8% |
Figures converted to GBP from USD at 0.743 per USD (Frankfurter spot rate) — hover any figure for the original. — 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 | 22.6% | 29.7% | 23.8% | |
| Net margin | 13.8% | 22.2% | 17.4% | |
| Return on capital employed | — | 47.6% | 60.0% | |
| Gearing (liabilities / total assets) | 98.4% | 98.8% | 97.9% | |
| Current ratio | 0.44x | 0.51x | 0.51x | |
| Interest cover | 2.57x | 3.98x | 3.68x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte (NI) Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on this assessment, the Directors are satisfied that the Company will have sufficient resources to meet its operational and financial obligations as they fall due. The Directors are hence of the opinion that it is appropriate to prepare financial statements of the Company on a going concern basis.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HODGES, Joshua Kumbirai | Director | 2025-05-06 | Feb 1988 | British |
| LAGIER, Jean-Marie | Director | 2025-10-21 | Jul 1981 | Swiss |
| TOWEY, Maurice Andrew Michael | Director | 2022-05-26 | Oct 1975 | Irish |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BULLEN, James Robert | Director | 2023-10-16 | 2025-04-15 |
| FEARN, Giles Duncan | Director | 2022-05-26 | 2023-10-16 |
| PAPAIOANNOU, Ioannis Vagos | Director | 2025-04-15 | 2025-10-21 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 37 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-31 | AA | accounts | Accounts with accounts type full | |
| 2026-07-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-06-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-10-21 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-21 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-30 | AA | accounts | Accounts with accounts type full | |
| 2025-06-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-06 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-10 | AA | accounts | Accounts with accounts type full | |
| 2024-06-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-05-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-05-29 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-12-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-10-18 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-16 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
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.