How much does Tidewater Marine UK Ltd make?

Tidewater Marine UK Ltd reported revenue of £130m and a loss of £9.1m in the year to 31 Dec 2025, according to its accounts filed at Companies House.

How many employees does Tidewater Marine UK Ltd have?

Tidewater Marine UK Ltd reported an average of 42 employees in the year to 31 Dec 2025.

Is Tidewater Marine UK Ltd profitable?

No — Tidewater Marine UK Ltd reported a loss of £9.1m in the year to 31 Dec 2025.

Company No. 02541716 · Incorporated 21 Sep 1990

Tidewater Marine UK Ltd

Registered name: TIDEWATER MARINE UK LTD

Part of Gulfmark North Sea Limited group

Tidewater Marine UK Ltd made £130m revenue and a £9.1m loss in the year to 31 Dec 2025.

Tidewater Marine UK Ltd’s revenue fell 8% to £130m in the year to 31 Dec 2025, with a loss of £9.1m and 42 employees. The company is classified under “sea and coastal freight water transport” and is based in London; we hold 4 years of its filed accounts.

Full P&L filedSection H · Transportation and storageSIC 50200Sea and coastal freight water transport

Status: Active
Location: London, London
Age: 36 yrs · since 1990
Type: Private Limited Company

Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.

Latest accounts · year to 31 Dec 2025

Key figures

Revenue

£130m

Growth ▼7.7%

Profit

−£9.1m

Growth ▼160%

Profit margin

−7%

Gross 1.9%

Employees

Change ▲5%

Profit / employee

−£216k

Revenue/employee £3.1m

Profitable streak

0yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

4 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2022	31 Dec 2023	31 Dec 2024	31 Dec 2025
Disclosure	Full P&L	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£38.8m	£83.7m	£141m	£130m
Cost of sales	£36.5m	£92.2m	£136m	£127m
Gross profit	£382k	−£8.4m	£4.3m	£2.5m
Operating profit	£4m	−£12.1m	—	—
Profit before tax	£3.4m	−£12.1m	£16.4m	−£9m
Profit after tax	£3.4m	−£12.1m	£15.1m	−£9.1m
Profit (best available)	£3.4m	−£12.1m	£15.1m	−£9.1m
Staff costs	£2.1m	£2.8m	£3.9m	£3.6m
Employees (average)	23	29	40	42
Ratios
Profit margin	8.8%	−14.4%	10.7%	−7%
Gross margin	1%	−10.1%	3.1%	1.9%
Revenue per employee	£1.7m	£2.9m	£3.5m	£3.1m
Profit per employee	£148k	−£416k	£377k	−£216k
Growth (year on year)
Revenue growth	—	▲115.8%	▲68.2%	▼7.7%
Profit growth	—	▼454.8%	—	▼160%
Headcount growth	—	▲26.1%	▲37.9%	▲5%
Balance sheet — indirect signals, not revenue
Cash at bank	£4.4m	£6.8m	£4.1m	£3.9m
Net assets	£80.2m	£68.1m	£83.2m	£80.2m
Fixed assets	£76.9m	£73.3m	£98.5m	£83.6m
Current assets	£46.9m	£91.6m	£133m	£209m
Debtors	£3.5m	£12.1m	£12.9m	£13.5m
Deferred income	£3.7m	£4.9m	£4.2m	£4.8m
Source	FullAccounts · bulk data Sep 2024	FullAccounts · bulk data Sep 2024	FullAccounts · bulk data Sep 2025	FullAccounts · bulk data Sep 2026

Derived from the latest filing

How the business works

Profit margin: −7%; Profit ÷ revenue.
Gross margin: 1.9%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £3.1m; Revenue ÷ average employees.
Profit per employee: −£216k; Profit ÷ average employees.
Cash conversion: —; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 64.3%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 3.7%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 10.4%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: ▼4%; Now £80.2m
Cash at bank: ▼5%; Now £3.9m
Headcount: ▲5%; Now 42
Deferred income: ▲15%; Now £4.8m
Fixed assets: ▼15%; Now £83.6m

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Ownership chain

Gulfmark North Sea Limitedultimate parent75–100%
Tidewater Marine UK Ltdthis company

Bands show the share of ownership each company holds in the one below it.

Subsidiaries (1)

Gulfmark UK International LtdRev. — · Profit £5k

Sister companies (1)

Tidewater Personnel UK LtdRev. £472k · Profit £73k

From the Persons with Significant Control register (corporate controllers only).

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2025 (profit −£9.1m), from the Companies House accounts bulk data published Sep 2026. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.