CORO ENERGY PLC

C/O PINSENT MASONS LLP, 1, PARK ROW, LEEDS, LS1 5AB

Previous name: SAFFRON ENERGY PLC (changed on 05-Apr-2018)

Company Number: 10472005
Incorporation date: 10-Nov-2016
Status: Active
Entity type: Public Limited Company

SIC codes:
06200 Extraction of natural gas

SUMMARY

This company is 7.4 years old and is currently active. It is controlled by multiple entities. The company has positive equity (net assets) of USD 5.2 million which has decreased from the previous year's figure of USD 15 million. Retained earnings is negative (USD -55.3 million), which means the company has aggregate losses since it's inception or it has paid more dividends than it can afford; given the company's age, this is a sign of serious financial problems. The company has 3 active officers (directors or partners) who are or were officers of 22 other companies, 1 (4.5%) of which have since been dissolved or are proposed for strike off. The company has no public disputes filed on the Business Disputes Register. There are no court cases involving the company that we are aware of.

FINANCIALS (BETA)

Next accounts due: 30-Jun-2024
Accounts Filed: GROUP (31-Dec-2022)

P&L Financials:

Year end	Currency	Revenue	Interest Received	Interest Paid	Net Profit GBP
31-Dec-2019	USD		54,000	2,652,000	-17,192,000
31-Dec-2018	EUR	1,842,000	287,000	147,000	-9,852,000
31-Dec-2017	EUR

Balance Sheet Financials:

Year end	Currency	Cash	Current Assets	Current Liabilities	Debt	Share Capital	Premium Reserve	Retained Earnings	Net Assets
31-Dec-2019	USD	6,374,000	6,615,000	1,768,000	632,000	1,080,000	45,679,000	-55,263,000	5,182,000
31-Dec-2018	EUR	8,173,000	13,686,000	6,683,000		829,000	36,950,000	-32,485,000	15,016,000
31-Dec-2017	EUR					217,000	13,748,000	22,633,000	460,000

VALUATION EVENTS (BETA)

Year end	Currency	% Equity	Sum raised	Pre-Money Valuation*	Post-Money Valuation*	Enterprise Value**
31-Dec-2019	USD	23.24%	8,980,000	29,659,044	38,639,044	27,191,544
31-Dec-2018	EUR	73.82%	23,814,000	8,443,853	32,257,853	16,264,353

* Average valuation during the period
** Estimated based on average Cash and Debt levels during period

DISPUTES

No disputes filed on www.disputesregister.org

COMPANY SECRETARY

Status	Name	Appointed on	Resigned on	Occupation	Nationality	All apointments (active/resigned)
Active	AMBA SECRETARIES LIMITED	12 Dec 2017	16 Apr 2024			52 - 40
Resigned	CARGIL MANAGEMENT SERVICES LIMITED	10 Nov 2016	12 Dec 2017			103 - 1153

DIRECTORS

Status	Name	Appointed on	Resigned on	Occupation	Nationality	All appointments (active/resigned)	Dissolved companies (rate)
Active	Thomas Donald RICHARDSON	20 Jul 2023		Director	British	1 - 3	1 (25.0%)
Resigned	Naheed MEMON	14 Apr 2023	16 Feb 2024	Company Director	British	0 - 1	0 (0.0%)
Resigned	Stephen James BIRRELL	25 Mar 2022	16 Feb 2024	Company Director	British	13 - 5	1 (5.6%)
Resigned	Mark Glen HOOD	17 Mar 2021	24 Mar 2023	Director	British	1 - 10	2 (18.2%)
Resigned	Nicholas John, Dr COOPER	15 Jan 2020	02 Apr 2020	Director	British	3 - 57	14 (23.3%)
Resigned	Andrew Denis DENANN	22 Mar 2019	14 Jun 2022	Director	British	0 - 1	0 (0.0%)
Resigned	James Graeme MENZIES	01 May 2018	02 Apr 2020	Director	British	1 - 5	0 (0.0%)
Resigned	Ilham Akbar HABIBIE	15 Feb 2018	01 Mar 2019	Director	Indonesian	0 - 1	0 (0.0%)
Active	Marco FUMAGALLI	12 Dec 2017		None	Italian	3 - 3	0 (0.0%)
Active	James PARSONS	12 Dec 2017		None	British	5 - 14	1 (5.3%)
Resigned	Fiona Margaret MACAULAY	12 Dec 2017	25 Mar 2022	None	British	7 - 24	2 (6.5%)
Resigned	Kevin Christopher BAILEY	17 Jan 2017	12 Dec 2017	Social Entrepreneur	Australian	0 - 1	0 (0.0%)
Resigned	Christopher Alan JOHANNNSEN	17 Jan 2017	31 Dec 2017	Investor/ Banker	Austrian	0 - 1	0 (0.0%)
Resigned	David Robertson GARLAND	17 Jan 2017	09 Apr 2018	Lawyer	Australian	0 - 10	4 (40.0%)
Resigned	Michael George MASTERMAN	10 Nov 2016	12 Dec 2017	Chairman	Australian	0 - 2	1 (50.0%)
Resigned	LEA YEAT LIMITED	10 Nov 2016	10 Nov 2016			0 - 14	2 (14.3%)
Resigned	Philippa Anne KEITH	10 Nov 2016	10 Nov 2016	Chartered Secretary	British	17 - 425	138 (31.2%)
Resigned	Sara Melinda EDMONSON	10 Nov 2016	22 Oct 2018	Director	American	0 - 4	0 (0.0%)

Number of active directors: 3
Average tenure of active directors: 4.5 years
Average tenure of resigned directors: 1.4 years
Average active director Dissolution Rate: 10.1%

DIRECTOR APPOINTMENTS IN OTHER COMPANIES

Name	Thomas Donald RICHARDSON	Marco FUMAGALLI	James PARSONS
PREP SCHOOLS TRUST (00961616) - Active	✔
ASCENT RESOURCES PLC (05239285) - Active		✔	✔
SOUND ENERGY PLC (05344804) - Active		✔	✔
ECHO ENERGY PLC (05483127) - Active		✔	✔
CORO EUROPE LIMITED (05811564) - Active			✔
METALLON CORPORATION LIMITED (06223345) - In Administration	✔
SOUND OIL LIMITED (09714412) - Active			✔
SOUND ENERGY MOROCCO EAST LIMITED (09923108) - Active			✔
SOUND ENERGY MOROCCO SOUTH LIMITED (10015721) - Active			✔
SOUND ENERGY MERIDJA LIMITED (10171798) - Active			✔
SOURCEBIO INTERNATIONAL LIMITED (10269474) - Active		✔
CORO ENERGY PLC (10472005) - Active	✔	✔	✔
ECHO ENERGY HOLDINGS (UK) LTD (10756541) - Active			✔
ECHO ENERGY BOLIVIA (HOLD CO 1) UK LTD (10760859) - Active			✔
ECHO ENERGY BOLIVIA (OP CO 1) UK LTD (10761861) - Active			✔
ECHO ENERGY BOLIVIA (HOLD CO 2) UK LTD (10762120) - Active			✔
ECHO ENERGY BOLIVIA (OP CO 2) UK LTD (10763803) - Active			✔
ASCENT HISPANIC RESOURCES UK LIMITED (11436071) - Active - Proposal to Strike off			✔
C4 ENERGY LTD (11558414) - Active		✔	✔
SOUND ENERGY NEW VENTURES LIMITED (11839292) - Active			✔
CORO CLEAN ENERGY VIETNAM LIMITED (13676018) - Active			✔
ASCENT CLAIM ENTITLEMENT SPV LTD (15331521) - Active			✔
LEKOIL MANAGEMENT SERVICES (UK) LIMITED (FC032853) - Active	✔

SHAREHOLDERS (BETA)

Shareholder name	Share class	Shares at confirmation date
Shareholder name	Share class	2016-11-10
PO VALLEY ENERGY LIMITED	ORDINARY	50,000 100%

SHAREHOLDINGS (BETA)

no shareholding data

CONTROLLED COMPANIES / CONTROLLING ENTITIES

- 50%-75%:Mr John Cyril Stuttaford - ceased
- >75%:Mrs Philippa Anne Keith - active
>75%:Cargil Management Services Limited (02601236 - United Kingdom) ceased
- >75%:Lo Holding Sa (Ch-660.1.793.002-5 - Geneva, Switzerland) active
25-50%:Lombard Odier Asset Management (Europe) Limited (07099556 - United Kingdom) ceased
>75%:Po Valley Energy Limited (087741571 - Australia) ceased

Controlling entities above

CORO ENERGY PLC

Controlled companies below

>75%:CORO CLEAN ENERGY LIMITED (11357376 - UK) active
- >75%:CORO CLEAN ENERGY VIETNAM LIMITED (13676018 - UK) active
>75%:CORO EUROPE LIMITED (05811564 - UK) ceased
>75%:CORO ENERGY ASIA LIMITED (11466087 - UK) active
>75%:CORO ENERGY HOLDINGS CELL A LIMITED (11864741 - UK) active
- >75%:CORO EUROPE LIMITED (05811564 - UK) active
>75%:CORO ASIA RENEWABLES LTD (SC620760 - UK) active

LATE PAYMENTS REPORT

This company has not filed any late payment reports possibly because it is not considered \'Large\'.

COURT CASES

No Court Cases found

PATENTS

No Patents found

COMPETITORS

(Based on Sic code: 06200 Extraction of natural gas)

Company	Registered Address	Company Number	YE Date	Revenue GBP	Net Profit GBP	Other SIC codes
INEOS UK E&P HOLDINGS LIMITED	BRODIES HOUSE, 31-33 UNION GROVE, ABERDEEN, SCOTLAND, AB10 6SD	SC200459	2017-12-31	434,937,000	-492,006,000
BG SOUTH ASIA LNG LIMITED	SHELL CENTRE, YORK ROAD, LONDON, SE1 7NA	08879512	2017-12-31	365,832,000	2,928,000
INEOS UK SNS LIMITED	ANCHOR HOUSE, 15-19 BRITTEN STREET, LONDON, ENGLAND, SW3 3TY	01021338	2017-12-31	150,753,000	-3,806,000
ENI JPDA 03-13 LIMITED	ENI HOUSE, 10 EBURY BRIDGE ROAD, LONDON, SW1W 8PZ	02664257	2017-12-31	108,456,000	24,857,000
CENTRICA STORAGE LIMITED	WOODLAND HOUSE, WOODLAND PARK, HESSLE, UNITED KINGDOM, HU13 0FA	03294124	2017-12-31	79,000,000	78,000,000	35220-Distribution of gaseous fuels through mains 49500-Transport via pipeline 82990-Other business support service activities not elsewhere classified
ANTIN CATS LIMITED	SUITE 1 7TH FLOOR, 50 BROADWAY, LONDON, UNITED KINGDOM, SW1H 0BL	08021886	2017-12-31	75,474,000	41,424,000
PKM OILFIELD SERVICES LIMITED	ANSTEY HOUSE WEST ROAD, FORNCETT ST. PETER, NORWICH, NORFOLK, NR16 1LF	06499803	2018-03-31	126,420	0
D T SERVICES 30 LIMITED	BOWERSCROFT BULLS GREEN ROAD, TOFT MONKS, BECCLES, SUFFOLK, UNITED KINGDOM, NR34 0DR	10258967	2018-06-30	49,263	0
WPH INSPECTIONS LIMITED	18 CONSTABLE DRIVE, BRADWELL, GREAT YARMOUTH, NORFOLK, ENGLAND, NR31 9RA	08306381	2018-11-30	39,614	0
JG SERVICES (GT. YARMOUTH) LTD	16 ST. NICHOLAS DRIVE, CAISTER ON SEA GREAT YARMOUTH, NORFOLK, NR30 5QS	06583805	2018-01-05	34,663	0
DRAKE ADVISORY LTD.	194 STANLEY ROAD, TEDDINGTON, MIDDLESEX, TW11 8UE	02708271	2017-04-30	217	0
WEST POINT SETANA TRADING LIMITED	38 LATHAM AVENUE, LATHAM AVENUE, FRODSHAM, ENGLAND, WA6 0ER	08551609	2018-05-31	0	0
BG LNG INVESTMENTS LIMITED	SHELL CENTRE, LONDON, UNITED KINGDOM, SE1 7NA	06945433	0000-00-00	0	0
INEOS OFFSHORE BCS LIMITED	ANCHOR HOUSE, 15-19 BRITTEN STREET, LONDON, ENGLAND, SW3 3TY	09687203	0000-00-00	0	0
INEOS UPSTREAM HOLDINGS LIMITED	ANCHOR HOUSE, 15-19 BRITTEN STREET, LONDON, ENGLAND, SW3 3TY	10645161	0000-00-00	0	0

LIQUIDATION RISK (BETA)

This company is Active. Statistically, Active companies have a low probability of being liquidated within a year.
Here are our probability predictions:

Basis	Liquidation within 3 months	Liquidation within 6 months	Liquidation within 12 months	Prediction confidence
CORO ENERGY PLC	0.9%	3.6%	7.1%	Medium
Other companies Active in the same sector	Too few competitors


Age	0.6%	2.5%	4.9%	Medium
Company Type	1.7%	4.0%	5.9%	Medium
Accounts category	0.6%	1.5%	2.5%	Medium
Accounting Month	0.6%	2.4%	5.5%	Medium
Sic code count	0.7%	3.5%	7.0%	Medium

VALUATION (BETA)

Valuation ratios as at 2024-03-31

	Market Cap GBP	Enterprise Value GBP	PE	EV/Revenue	EV/EBITDA
CORO ENERGY PLC	5,590,000	27,202,700		11.4	-13.7
Oil Gas and Coal ( 57 companies)	92,897,430,000	156,898,847,345	3.4 (median)	0.8 (median)	N/A