BTU (INSTALLATION & MAINTENANCE) LIMITED
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Cash
£2.2M
-27.5% vs 2024
Net assets
£8.3M
+14.9% highest in 6 filed years
Employees
125
+3.3% highest in 6 filed years
Profit before tax
£1.4M
+113.7% highest in 6 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 PSCs ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
6-year trend · vs Industrials median
Accounts
6-year trend · Δ = latest vs prior filed period · latest reflected 2025-10-31
| Metric | Trend | 2020-10-31 | 2021-10-31 | 2022-10-31 | 2023-10-31 | 2024-10-31 | 2025-10-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|---|
| Turnover | £13,711,971 | £16,844,645 | £18,855,724 | £22,035,919 | £21,308,982 | £22,987,763 | +7.9% | |
| Operating profit | £591,208 | £806,264 | £731,882 | £462,024 | £511,638 | £1,254,934 | +145.3% | |
| Profit before tax | £593,082 | £806,747 | £737,532 | £526,792 | £634,234 | £1,355,545 | +113.7% | |
| Net profit | £524,642 | £669,152 | £615,124 | £424,213 | £443,132 | £1,081,980 | +144.2% | |
| Cash | £1,437,743 | £1,577,500 | £2,222,464 | £2,883,408 | £3,096,443 | £2,243,718 | -27.5% | |
| Total assets less current liabilities | — | — | — | £6,807,069 | £7,239,501 | £8,321,481 | +14.9% | |
| Net assets | — | — | — | — | £7,239,501 | £8,321,481 | +14.9% | |
| Equity | £5,141,808 | £5,810,960 | £6,426,084 | £6,807,069 | £7,239,501 | £8,321,481 | +14.9% | |
| Average employees | 79 | 90 | 115 | 122 | 121 | 125 | +3.3% | |
| Wages | £3,527,574 | £4,112,726 | £5,008,443 | £5,588,406 | £5,908,969 | £5,833,679 | -1.3% | |
| Directors' remuneration | £142,225 | £158,297 | £260,263 | £271,038 | £271,579 | £272,093 | +0.2% |
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 | 2020-10-31 | 2021-10-31 | 2022-10-31 | 2023-10-31 | 2024-10-31 | 2025-10-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | 4.3% | 4.8% | 3.9% | 2.1% | 2.4% | 5.5% | |
| Net margin | 3.8% | 4.0% | 3.3% | 1.9% | 2.1% | 4.7% | |
| Return on capital employed | — | — | — | 6.8% | 7.1% | 15.1% | |
| Gearing (liabilities / total assets) | — | — | — | — | 39.4% | 42.2% | |
| Current ratio | — | — | — | 2.47x | 2.54x | 2.37x |
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 1 time since incorporation
- BTU (INSTALLATION & MAINTENANCE) LIMITED 2010-11-01 → present
- B.T.U. (MAINTENANCE) LIMITED 1981-05-13 → 2010-11-01
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ward Williams Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Significant events
- “A key milestone during the year was the successful completion of a Management Buyout on 31 October 2025. Andrew McCracken and Paul Bass completed the acquisition of the Company from the former owner, Paul Merritt, who resigned as a director at that date.”
- “The MBO has simplified the ownership structure, removed legacy share option arrangements, and aligned management fully with the long-term success of the Company.”
- “During the year, the Group formally cancelled these options, rendering them invalid. As no further service or performance conditions were required and no additional sharebased payment expense arose, the previously recognised sharebased payment reserve of £176,072 has been transferred to retained earnings reserves.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BASS, Paul William | Secretary | 2011-09-01 | — | — |
| BASS, Paul William | Director | 2011-09-01 | Jan 1968 | British |
| MCCRACKEN, Andrew Leslie | Director | 2010-11-01 | Dec 1970 | British |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FIRTH, Graham Stuart | Secretary | 2010-10-01 | 2011-08-31 |
| MERRITT, Diana Elizabeth | Secretary | — | 2010-09-30 |
| BANKS, Robert Michael | Director | 2001-04-01 | 2004-07-09 |
| CATON, Barry Pier | Director | — | 1999-03-31 |
| FIRTH, Graham Stuart | Director | 2010-11-01 | 2011-08-31 |
| MERRITT, Alan Frederick James | Director | — | 1996-09-24 |
| MERRITT, Paul David | Director | 1996-09-24 | 2025-10-31 |
| PORTESS, Norman | Director | 1998-10-01 | 2001-11-07 |
| SHARP, Peter Arthur | Director | — | 1998-02-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Paul William Bass | Individual | Significant influence | 2025-10-31 | Ceased 2025-10-31 |
| Mr Andrew Leslie Mccracken | Individual | Significant influence | 2025-10-31 | Ceased 2025-10-31 |
| Btu Holdings Ltd | Corporate entity | Shares 75–100% | 2025-10-31 | Active |
| Mr Paul David Merritt | Individual | Significant influence (as trust) | 2016-06-30 | Ceased 2025-10-31 |
Filing timeline
Last 20 of 128 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-30 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2026-06-30 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2026-06-30 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2026-06-02 | AA | accounts | Accounts with accounts type full | |
| 2026-01-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-11-18 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-10-31 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-10-31 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-10-31 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-10-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-10 | AA | accounts | Accounts with accounts type full | |
| 2024-10-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-04-22 | AA | accounts | Accounts with accounts type full | |
| 2023-09-25 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-06-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-07 | CH01 | officers | Change person director company with change date | |
| 2023-05-04 | AA | accounts | Accounts with accounts type full | |
| 2022-10-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
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.