PALLETWAYS (UK) LIMITED
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Cash
£7.4m
+128.3% highest in 3 filed years
Net assets
£43m
-45.5% lowest in 3 filed years
Employees
741
+3.9% highest in 3 filed years
Profit before tax
£25m
+13.3% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
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 | £349,078,000 | £246,057,000 | £270,684,000 | +10% | |
| Operating profit | £29,719,000 | £19,303,000 | £23,930,000 | +24% | |
| Profit before tax | £32,437,000 | £22,160,000 | £25,118,000 | +13.3% | |
| Net profit | £25,628,000 | £17,729,000 | £18,293,000 | +3.2% | |
| Cash | £3,598,000 | £3,239,000 | £7,395,000 | +128.3% | |
| Total assets less current liabilities | £80,071,000 | £93,949,000 | £54,625,000 | -41.9% | |
| Net assets | £62,101,000 | £79,828,000 | £43,490,000 | -45.5% | |
| Equity | £62,101,000 | £79,828,000 | £43,490,000 | -45.5% | |
| Average employees | 690 | 713 | 741 | +3.9% | |
| Wages | £41,556,000 | £29,268,000 | £31,592,000 | +7.9% | |
| Directors' remuneration | £848,000 | £628,000 | £724,000 | +15.3% | |
| Directors' pension contributions | £54,000 | £38,000 | £39,000 | +2.6% | |
| Highest paid director | £622,000 | £459,000 | £545,000 | +18.7% |
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 | 8.5% | 7.8% | 8.8% | |
| Net margin | 7.3% | 7.2% | 6.8% | |
| Return on capital employed | 37.1% | 20.5% | 43.8% | |
| Gearing (liabilities / total assets) | 44.8% | 35.7% | 42.3% | |
| Current ratio | 0.83x | 1.23x | 1.86x | |
| Interest cover | 18.57x | 14.07x | 20.99x |
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 101 Reduced Disclosure Framework
- Reporting scope
- Standalone (parent only)
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The forecasts indicate that even in the severe but plausible downside scenario it would have sufficient funds to operate to continue to meet its liabilities as they fall due for payment for the forecast year. Consequently, the directors have prepared the financial statements for the year ended 31 December 2025 on a going concern basis.”
Significant events
- “The Company's ultimate owners changed on 3rd March 2026 following the acquisition of a majority stake of the Palletways Group by Waterland Private Equity. The Palletways Group is now headed up by Gular Topco Limited.”
- “As per the DP World Limited financial statements for the year ended 31 December 2025, on 3 March 2026, the Group sold its 100% controlling stake in its subsidiary, the Palletways Group, for a total consideration of US$487 million (£366 million).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 34 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GITTINS, Robert William | Director | 2018-08-21 | Dec 1963 | British |
| HARGREAVES, Gemma Victoria Louise | Director | 2018-08-21 | Jun 1982 | British |
| PARDAL FERNANDES, Jose Carlos | Director | 2025-06-19 | Aug 1970 | Portuguese |
Show 34 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ASTON, Stephen Richard, Mr. | Secretary | 1994-04-13 | 2002-04-25 |
| HALLIDAY, Martin John | Secretary | 2002-06-26 | 2004-07-27 |
| HUNDLEBY, Susan Jane | Secretary | 2005-04-11 | 2013-01-21 |
| MATURI, Julian | Secretary | 2002-04-25 | 2002-06-26 |
| REYNOLDS, Andrew David Finch | Secretary | 2013-10-01 | 2016-07-05 |
| WILSON, James | Secretary | 2004-07-27 | 2013-10-01 |
| COMBINED SECRETARIAL SERVICES LIMITED | Corporate Nominee Secretary | 1994-04-13 | 1994-04-13 |
| ASHTON, Peter David | Director | 2002-04-25 | 2004-07-27 |
| ASTON, Stephen Richard, Mr. | Director | 1994-04-13 | 2002-04-25 |
| ASTON, Sylvia | Director | 2000-11-01 | 2002-04-25 |
| DRURY, David Martin | Director | 1997-05-16 | 2002-04-25 |
| HALLIDAY, Martin John | Director | 2002-06-26 | 2004-07-27 |
| HEANEY, Paul Christopher | Director | 1999-09-01 | 2004-07-27 |
| HEATON, Charles Robert | Director | 2016-10-07 | 2017-04-03 |
| HIBBERT, Andrew | Director | 1994-04-13 | 2002-04-25 |
| HIBBERT, Craig Stuart | Director | 2002-05-29 | 2016-08-30 |
| HIBBERT, Craig Stuart | Director | 1996-08-01 | 2002-04-25 |
| HIBBERT, Rebecca | Director | 2000-11-01 | 2002-04-25 |
| HUNDLEBY, Susan Jane | Director | 2005-04-11 | 2013-01-21 |
| HYATT, Jonathan Wade | Director | 2003-06-30 | 2005-04-29 |
| LEES, Ian | Director | 1996-08-01 | 1999-01-31 |
| MATURI, Julian | Director | 2013-01-31 | 2016-10-13 |
| MATURI, Julian | Director | 2001-01-02 | 2004-07-27 |
| MEADOWS, Simon Nicholas | Director | 2019-07-01 | 2025-06-19 |
| MYATT, Richard Geoffrey | Director | 2017-08-11 | 2019-07-01 |
| REYNOLDS, Andrew David Finch | Director | 2013-07-31 | 2016-10-18 |
| TURNER, Andrew John | Director | 2007-04-14 | 2013-07-31 |
| WALMSLEY, David John | Director | 2016-10-07 | 2018-03-02 |
| WATERHOUSE, Stephen Gilroy | Director | 1999-09-01 | 2002-04-25 |
| WILSON, James | Director | 2004-07-27 | 2019-07-01 |
| YOUNG, Martyn John | Director | 2011-09-28 | 2014-05-31 |
| ZUBIALDE URRALBURU, Luis | Director | 2014-05-01 | 2019-07-18 |
| COMBINED NOMINEES LIMITED | Corporate Nominee Director | 1994-04-13 | 1994-04-13 |
| COMBINED SECRETARIAL SERVICES LIMITED | Corporate Nominee Director | 1994-04-13 | 1994-04-13 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Dp World Palletways Group Ltd | Corporate entity | Significant influence | 2022-06-29 | Ceased 2026-03-03 |
| Palletways Finance Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-06-29 | Ceased 2022-06-29 |
| Palletways Group Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-06-29 | Active |
| Palletways Holdings Limited | Corporate entity | Shares 75–100% | 2017-01-01 | Ceased 2022-06-29 |
Filing timeline
Last 20 of 179 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-17 | AA | accounts | Accounts with accounts type full | |
| 2026-07-02 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-04-27 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2026-01-13 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2026-01-13 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-12-17 | AA | accounts | Accounts with accounts type full | |
| 2025-12-03 | DISS40 | gazette | Gazette filings brought up to date | |
| 2025-12-02 | GAZ1 | gazette | Gazette notice compulsory | |
| 2025-07-31 | CH01 | officers | Change person director company with change date | |
| 2025-06-19 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-19 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-01 | AA | accounts | Accounts with accounts type full | |
| 2024-04-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-04-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-04-20 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-04-20 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2022-12-06 | AA | accounts | Accounts with accounts type full | |
| 2022-08-02 | AA01 | accounts | Change account reference date company current extended |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- 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.