MERLIN CYCLES LIMITED
Get an alert when MERLIN CYCLES LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Cash
£407k
-57.6% lowest in 6 filed years
Net assets
£7.1m
-55.5% vs 2024
Employees
39
+5.4% vs 2024
Profit before tax
£4.6m
+47.4% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
As a result of the Company's security guarantee and the uncertainty surrounding the ongoing compliance with the loan covenants, a material uncertainty exists that may cast significant doubt upon the Company's ability to continue as a going concern.
-
Going-concern uncertainty disclosed
Net assets
6-year trend · vs Consumer Discretionary median
Accounts
6-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2020-10-31 | 2021-10-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|---|
| Turnover | £36,273,877 | £31,425,546 | £29,368,090 | £25,432,477 | £24,500,863 | £22,079,081 | -9.9% | |
| Operating profit | £2,948,943 | £4,956,862 | £4,394,248 | £1,102,909 | £2,695,151 | £3,885,604 | +44.2% | |
| Profit before tax | £2,897,436 | £4,919,065 | £4,557,579 | £1,249,804 | £3,108,208 | £4,580,392 | +47.4% | |
| Net profit | £2,287,963 | £3,947,998 | £3,807,440 | £955,689 | £2,330,530 | £3,435,171 | +47.4% | |
| Cash | £3,473,665 | £4,527,954 | £609,819 | £831,967 | £958,961 | £406,774 | -57.6% | |
| Total assets less current liabilities | £6,015,831 | £9,537,754 | £12,715,690 | £13,661,868 | £15,991,251 | £7,121,057 | -55.5% | |
| Net assets | £5,518,826 | £8,891,824 | £12,699,264 | £13,654,953 | £15,985,483 | £7,112,634 | -55.5% | |
| Equity | £5,518,826 | £8,891,824 | £12,699,264 | £13,654,953 | £15,985,483 | £7,112,634 | -55.5% | |
| Average employees | 45 | 40 | 33 | 36 | 37 | 39 | +5.4% | |
| Wages | £1,035,791 | £959,196 | £1,009,393 | £949,451 | £966,674 | £990,366 | +2.5% | |
| Directors' remuneration | £9,918 | £8,819 | £57,938 | £91,709 | £91,709 | £94,500 | +3% | |
| Directors' pension contributions | — | — | — | £11,030 | £11,791 | £12,174 | +3.2% |
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 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | 8.1% | 15.8% | 15.0% | 4.3% | 11.0% | 17.6% | |
| Net margin | 6.3% | 12.6% | 13.0% | 3.8% | 9.5% | 15.6% | |
| Return on capital employed | 49.0% | 52.0% | 34.6% | 8.1% | 16.9% | 54.6% | |
| Gearing (liabilities / total assets) | 53.4% | 30.9% | 17.4% | 11.1% | 11.6% | 22.5% | |
| Current ratio | — | — | — | 8.99x | 8.65x | 4.44x | |
| Interest cover | 56.51x | — | — | — | — | — |
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
- PM+M Solutions for Business LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“As a result of the Company's security guarantee and the uncertainty surrounding the ongoing compliance with the loan covenants, a material uncertainty exists that may cast significant doubt upon the Company's ability to continue as a going concern.”
Significant events
- “In June 2026, the lender formally confirmed that it would not exercise this right in respect of the covenant breaches identified to that date.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| OLDHAM, Andrew James | Director | 2022-04-07 | Jun 1971 | British |
| CYCLEFUSION GMBH | Corporate Director | 2022-04-07 | — | — |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MOSS, Deborah | Secretary | 1993-06-11 | 2022-04-07 |
| PARAMOUNT COMPANY SEARCHES LIMITED | Corporate Nominee Secretary | 1993-06-11 | 1993-06-11 |
| MOSS, John Alan | Director | 1993-06-11 | 2022-04-07 |
| PARAMOUNT PROPERTIES (UK) LIMITED | Corporate Nominee Director | 1993-06-11 | 1993-06-11 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Absolut Bikes Uk Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-08-06 | Active |
Filing timeline
Last 20 of 104 total filings
Material constitutional events — rename, articles re-file, resolution
- 2022-05-19 CC04 Statement of companys objects
- 2022-05-13 RESOLUTIONS Resolution
- 2022-05-12 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-29 | AA | accounts | Accounts with accounts type full | |
| 2026-06-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-06-09 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-06-09 | CH01 | officers | Change person director company with change date | |
| 2026-06-09 | CH01 | officers | Change person director company with change date | |
| 2025-07-22 | AA | accounts | Accounts with accounts type full | |
| 2025-06-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-09-24 | AA | accounts | Accounts with accounts type full | |
| 2024-06-07 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-06-23 | AA | accounts | Accounts with accounts type full | |
| 2023-06-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-10-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-06-16 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-06-01 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-05-19 | CC04 | change-of-constitution | Statement of companys objects | |
| 2022-05-13 | RESOLUTIONS | resolution | Resolution | |
| 2022-05-12 | MA | incorporation | Memorandum articles | |
| 2022-04-08 | AP02 | officers | Appoint corporate director company with name date | |
| 2022-04-07 | AA01 | accounts | Change account reference date company current extended | |
| 2022-04-07 | TM02 | officers | Termination secretary company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- 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.