PIPELINE INDUCTION HEAT LIMITED
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Cash
£2.8M
+6.6% highest in 3 filed years
Net assets
£17M
+115.7% highest in 3 filed years
Employees
134
-5% lowest in 3 filed years
Profit before tax
£12M
+55.4% highest in 3 filed years
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 | £40,959,000 | £41,358,000 | £50,691,000 | +22.6% | |
| Operating profit | -£8,372,000 | £7,906,000 | £12,301,000 | +55.6% | |
| Profit before tax | -£8,350,000 | £7,906,000 | £12,289,000 | +55.4% | |
| Net profit | -£7,883,000 | £7,313,000 | £9,137,000 | +24.9% | |
| Cash | £2,023,000 | £2,591,000 | £2,761,000 | +6.6% | |
| Total assets less current liabilities | £2,277,000 | £9,399,000 | £18,085,000 | +92.4% | |
| Net assets | £586,000 | £7,899,000 | £17,036,000 | +115.7% | |
| Equity | £586,000 | £7,899,000 | £17,036,000 | +115.7% | |
| Average employees | 152 | 141 | 134 | -5% | |
| Wages | £8,641,000 | £8,537,000 | £8,478,000 | -0.7% | |
| Directors' remuneration | £377,000 | £318,000 | £325,000 | +2.2% |
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 | -20.4% | 19.1% | 24.3% | |
| Net margin | -19.2% | 17.7% | 18.0% | |
| Return on capital employed | -367.7% | 84.1% | 68.0% | |
| Gearing (liabilities / total assets) | 98.0% | 77.6% | 60.6% | |
| Current ratio | 0.97x | 1.28x | 1.65x |
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
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have prepared the financial statements on the going concern basis as they do not intend to liquidate the Company or to cease its operations, and as they have concluded that the Company's financial position means that this is realistic. They have also concluded that there are no material uncertainties that could have cast significant doubt over its ability to continue as a going concern for at least a year from the date of approval of the financial statements ("the going concern period").”
Significant events
- “Signing of longer-term arrangements with key customers securing a robust backlog aligning the Company for sustainable growth.”
- “Strong financial performance in 2025 demonstrates a step change in performance, which has continued into 2026 where we are executing at scale, delivering major global projects.”
- “Investment in resource to support economic transition to less carbon dependent global economy and addressing carbon footprint by investing in a regional approach and localised workforce.”
- “Presence of branches in Indonesia, Norway, Canada, Nigeria, Australia, Turkey, Kingdom of Saudi Arabia and Kazakhstan.”
- “Achieving above sector average on environmental score in 2025 ESG assessment by APEX Group.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 36 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HOLLAND, Duncan | Secretary | 2024-07-31 | — | — |
| HOLLAND, Duncan | Director | 2024-07-31 | Sep 1977 | British |
| MCSHANE, Paul Joseph | Director | 2016-11-01 | May 1978 | Irish |
| PIASERE, Mauro | Director | 2025-08-11 | May 1967 | Italian |
| SANNE, Bjarne Christopher Petersen | Director | 2025-05-20 | Oct 1988 | Norwegian |
Show 36 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COSTELLO, Steven John | Secretary | 2013-10-31 | 2022-08-19 |
| HAYHURST, Fred | Secretary | 2011-03-11 | 2013-10-31 |
| LANIGAN, Philip Nicholas | Secretary | 2022-08-19 | 2024-07-31 |
| ROBINSON, Paul James | Secretary | — | 2011-03-11 |
| ALLEN, Caroline | Director | 2018-01-08 | 2021-12-07 |
| BOND, Philip Michael | Director | 1999-12-22 | 2011-09-01 |
| BOND, Philip Michael | Director | — | 1997-06-12 |
| BURKE, James Richard | Director | 1996-10-04 | 1997-06-12 |
| CAREY, Malcolm Timothy | Director | 1997-06-13 | 2011-09-01 |
| CAREY, Malcolm Timothy | Director | 1995-11-08 | 1996-04-10 |
| CASTREC, Frederic | Director | 2022-08-19 | 2025-08-14 |
| COGZELL, Matthew James | Director | 2011-09-01 | 2012-06-01 |
| COWLEY, John Mitchell | Director | 2011-09-01 | 2015-01-08 |
| DAVISON, Thomas Patrick | Director | 2013-05-20 | 2015-09-01 |
| EVANS, Calvin Paul | Director | 1997-06-13 | 2011-09-01 |
| EVANS, Calvin Paul | Director | — | 1997-06-12 |
| FRANCIS, Norman R | Director | 1995-11-08 | 1996-04-15 |
| GARDNER, Philip D | Director | 1996-10-04 | 1997-06-12 |
| GOFF, Brian Charles | Director | — | 1997-06-12 |
| JUMPSEN, David Thomas | Director | — | 1997-06-06 |
| LAAKE, Gregory Duane | Director | 2005-04-04 | 2011-06-30 |
| LANIGAN, Philip Nicholas | Director | 2022-08-19 | 2024-07-31 |
| MACKAY, James Innes | Director | 2022-08-19 | 2026-02-26 |
| MOKLAK, Paul Daniel | Director | 2016-11-01 | 2018-02-28 |
| NORRIS, Windell Derwood | Director | — | 1996-01-01 |
| RAMSDEN, Albert | Director | 1999-12-22 | 2003-05-07 |
| RHODES, Fiona Elizabeth | Director | 2015-09-07 | 2018-01-08 |
| SMILEY, Mark Richard | Director | 2015-01-08 | 2016-10-31 |
| SMITH, Michael Peter | Director | — | 2008-08-18 |
| SOOD, Amit Kumar | Director | 2011-09-01 | 2016-10-31 |
| STUBBS, Susan | Director | 2012-06-01 | 2016-10-31 |
| TEIXEIRA, Bruno Claudio Oliveira | Director | 2021-12-07 | 2023-05-23 |
| WENDELL BIGGERS, Mark | Director | 2001-11-16 | 2004-02-13 |
| WOOD, Delma Dale | Director | 1997-06-13 | 2001-11-16 |
| WOOD, Delma Dale | Director | — | 1995-10-05 |
| WYNNE HUGHES, Adam Rhys | Director | 2011-09-01 | 2023-06-16 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| P I H Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 229 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-10 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-06-06 | AA | accounts | Accounts with accounts type full | |
| 2026-06-02 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-04-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-07 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-10 | AA | accounts | Accounts with accounts type full | |
| 2025-09-05 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-28 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-06 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-10 | AA | accounts | Accounts with accounts type full | |
| 2025-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-01 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-08-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-08-01 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-01 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-02 | AA | accounts | Accounts with accounts type full | |
| 2024-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-28 | PSC05 | persons-with-significant-control | Change to a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 2
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.