THYSON TECHNOLOGY LIMITED

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +17.8%

  £11,437,000 → £13,472,000

  highest in 5 filed years

• Cash

  +33.8%

  £3,177,000 → £4,252,000

  highest in 5 filed years

• Net assets

  +23.4%

  £5,213,000 → £6,434,000

• Employees

  +27.1%

  59 → 75

  highest in 5 filed years

• Operating profit

  +105.3%

  £584,000 → £1,199,000

• Profit before tax

  +131.9%

  £561,000 → £1,301,000

  highest in 5 filed years

• Wages

  +33.1%

  £2,741,000 → £3,647,000

  highest in 5 filed years

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

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.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Saffery LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. With a £26.3m order book at 31 December 2024, in addition to: A strong pipeline of new opportunities; the revenue growth expected through National Gas RIIO-2 works, RIIO-3 FEEDs and RIIO-3 works; further opportunities with other gas networks; growth of the Service side of the Business' operations as a result of increasing project completions, and; the medium term opportunities linked to the production, storage and transportation of low carbon Hydrogen, the directors are confident that the business will continue to remain profitable in the foreseeable future and generate positive future cash flows to fully support the asset carrying values. The directors have prepared a detailed integrated profit and loss account, balance sheet and cashflow forecast and are comfortable with the Group's position as a going concern. In making the going concern assessment, the directors have considered a period of at least 12 months from the date of signing these financial statements.”

Significant events

• “One of the significant impacts of the invasion of Ukraine has been the impact on international natural gas prices and publicised Government policies across Europe with an aim to reduce reliance on imported gas from Russia. This has led to an increase in demand across Europe for engineering capabilities not only for building new LNG terminals across Europe but also Government policies across Europe to reduce the use of fossil fuels in electricity generation and in accelerating a move to new greener technologies to use energy carriers such as low carbon hydrogen and green ammonia.”
• “Turnover increased by 18% to £13.5m (2023: £11.4m) through the combination of delivering a larger opening order book of £12.2m (Sept 2023: £6.5m) and the continued investment into green gas and decarbonisation projects coupled with the RIIO2 investment cycle across the gas transmission and distribution networks.”
• “Gross margin increased to 26% (2023: 22%) due to improvements in productivity and economies of scale.”
• “Administration expenses in the year increased to £2.2m representing a 22% increase compared to the prior year. The increase in administration expenses related to investment into training, recruitment fees and general inflation across overheads.”
• “Operating profit before amortisation, depreciation and interest increased to £1.3m from £0.7m in the previous year.”
• “On 30 September 2024 net assets were £6.4m (2023: £5.2m). Cash at bank increased to £4.3m (2023: £3.2m) due to the profit generated in the year.”
• “During the year the Company invested in the formation of a Digital Technology Division to focus on supporting its customer base with mitigating and managing cyber risk associated with operational technology deployed on national energy infrastructure assets.”
• “Recent projects include: (1) H100 a first-of-a-kind demonstration project delivering 100% green hydrogen gas to customers, providing evidence for future low-carbon policy decisions and a clear path towards net zero heating for the UK.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

12

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

4

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.