PW DEFENCE LTD
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Cash
£1.6m
+108% highest in 3 filed years
Net assets
£14m
-4.4% vs 2024
Employees
159
+9.7% highest in 3 filed years
Profit before tax
£5.3m
-11.8% vs 2024
Net assets
3-year trend · vs Basic Materials 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 | £10,850,000 | £24,622,000 | £22,269,000 | -9.6% | |
| Operating profit | £791,000 | £1,009,000 | -£131,000 | -113% | |
| Profit before tax | £740,000 | £6,045,000 | £5,332,000 | -11.8% | |
| Net profit | £780,000 | £5,759,000 | £5,768,000 | +0.2% | |
| Cash | £1,503,000 | £792,000 | £1,647,000 | +108% | |
| Total assets less current liabilities | £12,611,000 | £16,237,000 | £15,979,000 | -1.6% | |
| Net assets | £11,180,000 | £14,589,000 | £13,952,000 | -4.4% | |
| Equity | £11,180,000 | £14,589,000 | £13,952,000 | -4.4% | |
| Average employees | 149 | 145 | 159 | +9.7% | |
| Wages | £3,558,000 | £5,327,000 | £5,667,000 | +6.4% | |
| Directors' remuneration | £110,000 | £205,000 | £181,000 | -11.7% | |
| Directors' pension contributions | £9,000 | £3,000 | — | — |
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 | 7.3% | 4.1% | -0.6% | |
| Net margin | 7.2% | 23.4% | 25.9% | |
| Return on capital employed | 6.3% | 6.2% | -0.8% | |
| Gearing (liabilities / total assets) | 31.1% | 44.0% | 70.1% | |
| Current ratio | 3.05x | 1.10x | 0.52x | |
| Interest cover | 15.51x | 2.04x | -0.02x |
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 3 times since incorporation
- PW DEFENCE LTD 2019-06-27 → present
- CHEMRING DEFENCE UK LIMITED 2007-11-01 → 2019-06-27
- PW DEFENCE LIMITED 2000-04-27 → 2007-11-01
- HALEY AND WELLER LIMITED 1949-02-01 → 2000-04-27
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“As a result of the above, the Directors have a reasonable expectation that the Group, which the Company is part of, has adequate resources to continue in operational existence and to meet its liabilities as they fall due for at least 12 months from the date of signing of these financial statements”
Group structure
- PW DEFENCE LTD · parent
- Wescom KDL Holdings Ltd (formerly KeTech Holdings Ltd) 100%
- Wescom KDL Ltd (formerly KeTech Defence Ltd) 100%
- B.C.B. International Limited 100%
- B.C.B. Marine Limited 100%
Significant events
- “On 17 January 2025, the Company acquired 100% of the share capital of BCB International Limited and its dormant subsidiary, B.C.B. Marine Limited for a total consideration of £19,802,000.”
- “On 2 December 2025, the trade, assets and liabilities of KeTech Defence Limited were transferred to the Company by way of a hive up...”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 47 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MELLORS, Benjamin John | Director | 2024-02-07 | May 1977 | British |
| MILLAR, Leanne Margaret | Director | 2021-01-29 | Aug 1974 | British |
| SCHNEIDERMAN, Mark Uzane | Director | 2025-07-31 | Jun 1980 | American |
| WILKINSON, Ross Philip | Director | 2021-01-29 | Jul 1977 | British |
Show 47 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ABBASS, Jay Ferris | Secretary | 2019-06-21 | 2019-10-28 |
| ELLARD, Sarah Louise | Secretary | 1997-05-06 | 2019-06-21 |
| KIRK, Joseph | Secretary | 2019-10-28 | 2021-01-29 |
| LEIGHTON, Iain Gordon Kerr | Secretary | 1995-05-22 | 1997-05-06 |
| SIMPSON, Paul | Secretary | 1992-02-05 | 1992-07-24 |
| SMITH, Raymond Arthur | Secretary | — | 1992-02-05 |
| VINE, Sylvia Elizabeth Faith | Secretary | 1992-07-24 | 1995-05-22 |
| ABBASS, Jay Ferris | Director | 2019-06-21 | 2021-01-29 |
| ASHER, Kenneth Robert | Director | 2011-11-01 | 2013-08-16 |
| BILLINGTON, Philip Gordon | Director | 1992-07-24 | 1997-05-06 |
| BOWERS, Steven John | Director | 2013-02-26 | 2016-09-30 |
| CALLAWAY, John Thomas | Director | 2001-11-08 | 2007-08-20 |
| CAMERON, Stuart James Spence | Director | 2015-03-12 | 2019-06-21 |
| DONALDSON, Alistair Stoddart | Director | 2001-05-01 | 2003-12-15 |
| ELLARD, Sarah Louise | Director | 2014-07-24 | 2019-06-21 |
| EVANS, David Roger | Director | 1992-07-24 | 2005-04-04 |
| FLOWERS, Michael James | Director | 2014-07-24 | 2018-06-30 |
| GIBBS, Raymond John | Director | 1997-05-06 | 1999-08-20 |
| GREENWOOD, Paul Anthony | Director | 2000-05-01 | 2006-10-31 |
| HELME, Michael John | Director | 2006-01-09 | 2013-05-31 |
| HILL, Robert Seamus | Director | 2012-05-01 | 2015-05-31 |
| HUGHES, John Gwynlleu | Director | 2019-06-21 | 2021-01-29 |
| HYDE, David Philip | Director | 2014-02-03 | 2019-02-28 |
| JAMES, Ben Luke | Director | 2009-02-20 | 2012-04-30 |
| KENT, Lionel James Harding, Colonel | Director | — | 1992-12-31 |
| LEWIS, Andrew Gregory | Director | 2017-01-19 | 2019-06-21 |
| MACRO, Clive Hugh | Director | 2009-02-19 | 2011-11-23 |
| MCCANN, Anthony Joseph | Director | — | 1992-02-07 |
| MOROTINI, Hans Georg | Director | 2007-02-01 | 2010-09-01 |
| MURPHY, Peter John | Director | 2021-07-21 | 2024-03-01 |
| ORD, Michael | Director | 2018-07-01 | 2019-06-21 |
| PAPWORTH, Mark Harry | Director | 2012-11-05 | 2014-07-24 |
| POTTER, Trevor Philip Edgar | Director | — | 2002-05-01 |
| PRICE, David John | Director | 2005-04-04 | 2012-10-26 |
| RAYNER, Paul Adrian | Director | 1999-08-20 | 2012-07-31 |
| SIMPSON, Paul | Director | — | 1998-01-11 |
| SINCLAIR-LEE, Robin | Director | 1992-11-02 | 1995-11-09 |
| SMITH, Brian John | Director | 1994-11-30 | 1997-04-01 |
| TRISTRAM, Andrew | Director | 2010-09-01 | 2012-01-09 |
| TRISTRAM, Andrew | Director | 2008-06-02 | 2009-02-19 |
| VINE, Sylvia Elizabeth Faith | Director | 1992-07-24 | 1995-05-22 |
| WALKER, Andrew David | Director | 2021-02-11 | 2021-07-21 |
| WALKER, Andrew David | Director | 2020-10-14 | 2021-01-29 |
| WHYTE, David Francis | Director | 1992-07-24 | 1996-02-20 |
| WOOD, Guy John | Director | 2002-11-01 | 2006-10-31 |
| YOUNG, James Alistair | Director | 2004-06-01 | 2006-10-31 |
| YOUNG, Stephen Allen | Director | 2020-03-20 | 2021-01-29 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Jay Ferris Abbass | Individual | Shares 25–50% (as firm), Voting 25–50% (as firm), Appoints directors (as firm), Significant influence (as firm) | 2019-06-21 | Ceased 2021-01-29 |
| Mr John Gwynlleu Hughes | Individual | Shares 25–50% (as firm), Voting 25–50% (as firm), Appoints directors (as firm), Significant influence (as firm) | 2019-06-21 | Ceased 2021-01-29 |
| Pwd Group Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2019-06-21 | Active |
| Chemring Group Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-06-30 | Ceased 2019-06-21 |
Filing timeline
Last 20 of 329 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-08-28 MA Memorandum articles
- 2025-08-18 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-16 | AA | accounts | Accounts with accounts type full | |
| 2026-03-16 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-12-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-11-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-26 | AA | accounts | Accounts with accounts type full | |
| 2025-08-28 | MA | incorporation | Memorandum articles | |
| 2025-08-18 | RESOLUTIONS | resolution | Resolution | |
| 2025-08-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-08 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-11-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-11 | AA | accounts | Accounts with accounts type full | |
| 2024-03-08 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-07 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-25 | AA | accounts | Accounts with accounts type full | |
| 2022-11-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-22 | AA | accounts | Accounts with accounts type full | |
| 2022-06-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-11-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-07-21 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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.