GRIFFON MARINE LIMITED
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Cash
£910K
-84.5% vs 2024
Net assets
-£11M
-52.2% vs 2024
Employees
113
-9.6% vs 2024
Profit before tax
-£3.8M
-62.7% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £26,547,540 | £14,941,909 | -43.7% | |
| Operating profit | -£564,035 | -£2,039,853 | -261.7% | |
| Profit before tax | -£2,309,053 | -£3,757,980 | -62.7% | |
| Net profit | -£2,326,400 | -£3,757,980 | -61.5% | |
| Cash | £5,881,442 | £910,259 | -84.5% | |
| Total assets less current liabilities | £19,526,205 | £7,678,756 | -60.7% | |
| Net assets | -£7,201,047 | -£10,959,027 | -52.2% | |
| Equity | -£7,201,047 | -£10,959,027 | -52.2% | |
| Average employees | 125 | 113 | -9.6% | |
| Wages | £5,221,975 | £5,146,572 | -1.4% | |
| Directors' remuneration | £319,723 | £384,848 | +20.4% |
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 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | -2.1% | -13.7% | |
| Net margin | -8.8% | -25.2% | |
| Return on capital employed | -2.9% | -26.6% | |
| Gearing (liabilities / total assets) | 127.9% | 197.8% | |
| Current ratio | 3.69x | 2.45x | |
| Interest cover | -0.32x | -1.17x |
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 2 times since incorporation — the current trading name was adopted 2025-03-19
- GRIFFON MARINE LIMITED 2025-03-19 → present
- GRIFFON HOVERWORK LIMITED 2009-04-02 → 2025-03-19
- HOVERWORK LIMITED 1965-06-30 → 2009-04-02
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Menzies LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors recognise that it is currently a challenging climate in which to operate and that world events present many uncertainties, however the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”
Significant events
- “The Company changed its name from Griffon Hoverwork Limited to Griffon Marine Limited during the year.”
- “A stock impairment of £1.98m on the valuation of a pre-owned hovercraft has caused gross margins to decrease to 15% (2024 -19%).”
- “Included within exceptional administrative expenses... is an exceptional foreign exchange gain (2024 - loss) on the maturity of a hedged value of Japanese Yen (JPY)...”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 24 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HANSFORD, Annette | Secretary | 2024-04-01 | — | — |
| DOWNER, Mark John | Director | 2024-10-01 | Oct 1969 | British |
| GAGGERO, James Peter George | Director | 2008-04-11 | Aug 1959 | British |
| GAGGERO, Nicholas James | Director | 2020-03-31 | Dec 1985 | British |
| HOWES, Emily Louise | Director | 2021-03-09 | Jul 1979 | British |
| NAVAS, Philip | Director | 2021-03-09 | Nov 1980 | British |
| REED, Andrew Stephen | Director | 2018-10-15 | Jun 1986 | British |
Show 24 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MACKIE, Ian | Secretary | 2016-10-18 | 2021-02-10 |
| MAYHEW, Nicola Louise | Secretary | 2011-11-18 | 2016-10-18 |
| PALIN, Guy Mainwaring | Secretary | — | 2001-07-24 |
| THOMSON, Simon Patrick | Secretary | 2010-06-23 | 2011-11-18 |
| TOMLINSON, Sarah Ann | Secretary | 2021-02-10 | 2024-02-26 |
| WHITE, Peter Gerald | Secretary | 2001-07-24 | 2009-04-30 |
| APPS, Nigel Mark | Director | 2010-07-14 | 2015-11-17 |
| ATTWOOD, Christopher Raymond | Director | 2010-08-05 | 2011-05-10 |
| ATTWOOD, Christopher Raymond | Director | 2008-04-11 | 2010-07-01 |
| BARTON, Robert Henry | Director | — | 2012-04-26 |
| BLAND, Christopher Donald Jack | Director | — | 2010-10-26 |
| BOX, Richard Kevin | Director | 2001-02-25 | 2011-02-01 |
| GAME, Henry Michael | Director | 2010-04-01 | 2016-02-23 |
| GIFFORD, Edwin William Henry, Dr | Director | — | 2001-07-24 |
| GIFFORD, John Hugh | Director | 2009-04-03 | 2011-02-01 |
| HOOPER, Catherine Fiona | Director | 2011-04-01 | 2012-11-30 |
| MACKIE, Ian | Director | 2017-02-20 | 2021-02-28 |
| MAY, Iain Richard Campbell | Director | 2008-09-11 | 2010-03-31 |
| MOORE, Derrick | Director | 2010-11-26 | 2011-04-06 |
| PALIN, Guy Mainwaring | Director | — | 2001-07-24 |
| TRENCH, Michael Robert Alfred Stanley | Director | 2015-11-17 | 2017-01-31 |
| WAKEHAM, Neal | Director | 2009-05-01 | 2010-07-02 |
| WENT, Adrian Charles | Director | 2009-04-20 | 2025-05-22 |
| WHITE, Peter Gerald | Director | 2003-07-28 | 2009-04-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bland Group Uk Holdings Limited | Corporate entity | Shares 75–100% (as firm) | 2016-04-06 | Active |
Filing timeline
Last 20 of 202 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-03-19 CERTNM Certificate change of name company PDF
- 2023-04-08 MA Memorandum articles
- 2023-04-08 RESOLUTIONS Resolution
- 2023-03-20 CC04 Statement of companys objects
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-06 | AA | accounts | Accounts with accounts type full | |
| 2026-01-02 | SH01 | capital | Capital allotment shares | |
| 2025-08-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-22 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-19 | CERTNM | change-of-name | Certificate change of name company | |
| 2025-03-06 | CH01 | officers | Change person director company with change date | |
| 2025-03-06 | CH01 | officers | Change person director company with change date | |
| 2024-10-22 | AA | accounts | Accounts with accounts type full | |
| 2024-10-08 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-11 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-03-11 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-12-28 | AA | accounts | Accounts with accounts type full | |
| 2023-08-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-04-08 | MA | incorporation | Memorandum articles | |
| 2023-04-08 | RESOLUTIONS | resolution | Resolution | |
| 2023-03-20 | CC04 | change-of-constitution | Statement of companys objects | |
| 2022-11-22 | CH01 | officers | Change person director company with change date | |
| 2022-11-22 | CH01 | officers | Change person director company with change date | |
| 2022-11-21 | AD02 | address | Change sail address company with old address new address |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 1
- 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.