VERASTAR LIMITED
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Cash
£9M
-33.2% vs 2024
Net assets
-£94M
-37% vs 2024
Employees
377
-35.7% vs 2024
Profit before tax
-£26M
+21.3% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The group's latest forecasts indicate that an amendment or waiver of the EBITDA covenant is likely to be required from potentially as early as the end of October 2026 onwards. If the group is unable to obtain such waivers or secure a reset of the covenant, one possible outcome is that the lender may demand full repayment of the SFA, and the group does not have sufficient cash on hand to make this repayment, which would have consequences for the company as an Obligor. These conditions, along with the other matters explained in note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.
Net assets
2-year trend · vs Telecommunications median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-04-30
| Metric | Trend | 2024-04-30 | 2025-04-30 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £45,097,000 | £41,724,000 | -7.5% | |
| Operating profit | -£45,587,000 | -£10,988,000 | +75.9% | |
| Profit before tax | -£32,937,000 | -£25,936,000 | +21.3% | |
| Net profit | -£33,377,000 | -£25,304,000 | +24.2% | |
| Cash | £13,497,000 | £9,022,000 | -33.2% | |
| Total assets less current liabilities | -£68,393,000 | -£89,914,000 | -31.5% | |
| Net assets | -£68,393,000 | -£93,697,000 | -37% | |
| Equity | -£68,393,000 | -£93,697,000 | -37% | |
| Average employees | 586 | 377 | -35.7% | |
| Wages | £19,214,000 | £14,686,000 | -23.6% | |
| Directors' remuneration | £932,000 | £1,700,000 | +82.4% |
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 | 2024-04-30 | 2025-04-30 |
|---|---|---|---|
| Operating margin | -101.1% | -26.3% | |
| Net margin | -74.0% | -60.6% | |
| Current ratio | 0.42x | 0.28x |
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 3 times since incorporation
- VERASTAR LIMITED 2015-10-09 → present
- UNIVERSAL UTILITIES LIMITED 2011-04-07 → 2015-10-09
- UNIVERSAL UTILITIES PUBLIC LIMITED COMPANY 2006-12-06 → 2011-04-07
- UNIVERSAL UTILITIES LIMITED 1998-11-13 → 2006-12-06
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The group's latest forecasts indicate that an amendment or waiver of the EBITDA covenant is likely to be required from potentially as early as the end of October 2026 onwards. If the group is unable to obtain such waivers or secure a reset of the covenant, one possible outcome is that the lender may demand full repayment of the SFA, and the group does not have sufficient cash on hand to make this repayment, which would have consequences for the company as an Obligor. These conditions, along with the other matters explained in note 2 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.”
Group structure
- VERASTAR LIMITED · parent
- Clear Business Water Limited 100%
- Economy Gas Limited 100%
- Sinq Power Limited 100%
- TBO Services Limited 100%
- LittleNLarge.com Limited 100%
- Inspire Group Services Limited 100%
- Inspire Merchant Services Limited 100%
- Inspire Payment Services Limited 100%
Significant events
- “During 2025, the company incurred exceptional costs of £7,171k (2024: £23,697k) including a loss of £4,414k on sale of assets. The company also had non-recurring administrative expenses of £1,646k relating to consultancy and advisor fees for financial restructuring and £1,099k in relation to operational restructuring and remuneration costs.”
- “Exceptional costs incurred during the year ended 30 April 2024 included £3,562k relating to consultancy and advisor fees for strategic projects and £1,631k in relation to restructuring and remuneration costs. The company also made a contribution of £18,503k to the employee benefit trust during 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 10 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GROVES, Emma Louise | Secretary | 2024-07-05 | — | — |
| BRIGHT, John Benjamin | Director | 2025-09-01 | Jan 1977 | British |
| HULL, Lee Robert | Director | 2020-10-31 | Nov 1975 | British |
| LORD, Georgina Kathryn | Director | 2024-03-11 | Sep 1982 | British |
Show 10 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HILL, Gillian Elizabeth | Secretary | 2015-12-03 | 2024-07-04 |
| SHAW, Emma Louise | Secretary | 2013-02-22 | 2015-12-03 |
| WHELTON, Mark Kevin | Secretary | 1998-11-13 | 2013-02-22 |
| DOHERTY, Paul Nicholas | Director | 2011-11-28 | 2024-05-14 |
| EAGLETON, Antony Sean | Director | 2007-07-01 | 2008-06-20 |
| EARLE, Christopher James | Director | 2006-03-14 | 2020-10-31 |
| NOWOSAD, Piotr | Director | 2014-02-12 | 2021-07-20 |
| PALMER, Janette | Director | 2007-06-01 | 2019-07-31 |
| PALMER, Stephen | Director | 1998-11-13 | 2011-04-26 |
| PERKINS, Jonathan William | Director | 2024-03-11 | 2025-11-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Verastar Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 139 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-08-02 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-03 | AA | accounts | Accounts with accounts type full | |
| 2025-12-04 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-02 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-28 | AA | accounts | Accounts with accounts type full | |
| 2025-02-07 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-03 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2024-11-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-09 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-07-09 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-05-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-14 | AP01 | officers | Appoint person director company with name date | |
| 2024-03-13 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-07 | AA | accounts | Accounts with accounts type full | |
| 2023-11-14 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-09-28 | AA | accounts | Accounts with accounts type full | |
| 2023-08-03 | SH01 | capital | Capital allotment shares | |
| 2023-08-02 | RESOLUTIONS | resolution | Resolution | |
| 2023-07-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-11-22 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- 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.