QINETIQ LIMITED
Operating as the principal UK subsidiary of the London Stock Exchange-listed QinetiQ Group plc, the company provides defence technology, engineering solutions, and testing and evaluation services for military, aerospace, and security clients.
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Cash
£185M
+22.7% vs 2024
Net assets
£768M
+2.1% vs 2024
Employees
5,367
+2.9% vs 2024
Profit before tax
£188M
-10.8% vs 2024
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £1,245,400,000 | £1,294,300,000 | +3.9% | |
| Operating profit | £175,400,000 | £150,700,000 | -14.1% | |
| Profit before tax | £211,300,000 | £188,400,000 | -10.8% | |
| Net profit | £165,000,000 | £144,800,000 | -12.2% | |
| Cash | £150,900,000 | £185,200,000 | +22.7% | |
| Total assets less current liabilities | £882,500,000 | £938,100,000 | +6.3% | |
| Net assets | £752,000,000 | £768,100,000 | +2.1% | |
| Equity | £752,000,000 | £768,100,000 | +2.1% | |
| Average employees | 5,218 | 5,367 | +2.9% | |
| Wages | £280,400,000 | £292,200,000 | +4.2% | |
| Directors' remuneration | £1,900,000 | £1,800,000 | -5.3% |
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 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 14.1% | 11.6% | |
| Net margin | 13.2% | 11.2% | |
| Return on capital employed | 19.9% | 16.1% | |
| Gearing (liabilities / total assets) | 45.5% | 45.8% | |
| Current ratio | 1.72x | 2.02x | |
| Interest cover | 38.98x | 20.93x |
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 2 times since incorporation
- QINETIQ LIMITED 2001-04-04 → present
- DEFENCE EVALUATION AND RESEARCH AGENCY LIMITED 1999-09-21 → 2001-04-04
- CLAUSEDIRECT LIMITED 1999-06-25 → 1999-09-21
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- 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. In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. However, because not all future events or conditions can be predicted, this conclusion is not a guarantee as to the company's ability to continue as a going concern.”
Group structure
- QINETIQ LIMITED · parent
- QinetiQ Limited
- QinetiQ Estates Limited
- QinetiQ Insurance PCC Limited
- QinetiQ PFP Limited Partnership
- QinetiQ Target Services Limited
Significant events
- “Orders in the year were £1,039.4m (2024:£994.5m) reflecting growth of 4.5% which was driven by strong performance in UK Defence. Subsequent to the year end, the Company announced a five-year, £1.54 billion extension to its Long Term Partnering Agreement (LTPA) with the UK's Ministry of Defence (MOD).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 37 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| FIELD, James Stephen | Secretary | 2022-07-28 | — | — |
| CASHIN, Heather Anne | Director | 2022-09-06 | Aug 1980 | British |
| COOPER, Martin Stephen | Director | 2024-10-25 | Nov 1974 | British |
| FIELD, James Stephen | Director | 2022-07-28 | Oct 1975 | British |
| MINNICAN, Grant Clark | Director | 2022-09-06 | Mar 1969 | British |
| MONTAGUE-FULLER, Peter Malcolm | Director | 2021-03-23 | Feb 1968 | British |
Show 37 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOARDMAN, Lynton David | Secretary | 2002-07-29 | 2011-01-14 |
| GRANT, Carmel Jane Elizabeth | Secretary | 2000-12-07 | 2001-04-25 |
| KAY, Sylvia Mary | Secretary | 2002-01-31 | 2002-07-29 |
| MAYO, Charles | Secretary | 1999-06-30 | 2000-12-07 |
| MESSENT, Jon | Secretary | 2011-01-14 | 2022-07-28 |
| PEACE, Elizabeth Ann | Secretary | 2001-04-25 | 2002-01-31 |
| SWIFT INCORPORATIONS LIMITED | Corporate Nominee Secretary | 1999-06-25 | 1999-06-30 |
| ARMITAGE, Richard Andrew | Director | 1999-06-30 | 2000-12-07 |
| BOARDMAN, Lynton David | Director | 2007-03-19 | 2011-01-14 |
| BORG, Caroline | Director | 2021-11-25 | 2024-04-16 |
| BRENDISH, Clayton Mark | Director | 2001-06-04 | 2002-07-05 |
| BRIERLEY, Andrew John | Director | 2010-05-17 | 2015-03-20 |
| CHISHOLM, John Alexander Raymond, Sir | Director | 2001-04-25 | 2006-10-01 |
| COFFIN, Malcolm Andrew, Dr | Director | 2017-01-03 | 2022-08-11 |
| COLMAN, Adrian Maxwell | Director | 2008-03-13 | 2008-08-15 |
| EGAN, John Leopold, Sir | Director | 2001-04-25 | 2002-05-07 |
| FRYER, Jack Raymond | Director | 2001-07-01 | 2002-07-05 |
| JAGGER, Terence | Director | 2000-12-07 | 2001-06-01 |
| JOHNSON, Christopher Brian | Director | 2010-10-20 | 2013-09-30 |
| KRUTH, Harold Edwin | Director | 2002-07-04 | 2005-09-12 |
| LING, Christopher Adam | Director | 2009-02-25 | 2011-02-01 |
| LOVE, Graham Carvell | Director | 2001-04-25 | 2009-10-28 |
| LUCKHURST, Stephen James | Director | 2008-03-13 | 2010-05-17 |
| MAYO, Charles | Director | 1999-06-30 | 2000-12-07 |
| MELLORS, David Anthony | Director | 2008-08-20 | 2016-12-31 |
| MESSENT, Jon | Director | 2011-01-14 | 2022-07-28 |
| NEVILLE JONES, Lilian Pauline, Baroness | Director | 2001-07-25 | 2002-07-05 |
| PALETHORPE, Mark John | Director | 2008-03-13 | 2008-04-08 |
| PEACE, Elizabeth Ann | Director | 2000-12-07 | 2001-04-25 |
| QUINN, Leo Martin | Director | 2010-09-15 | 2014-12-31 |
| RICHARDSON, Clive Robert | Director | 2008-03-13 | 2009-02-03 |
| SMITH, David Miles | Director | 2020-07-22 | 2021-11-25 |
| SYMONDS, Jonathan Richard | Director | 2001-04-25 | 2002-07-05 |
| WEBB, Douglas Russell | Director | 2005-09-12 | 2008-05-30 |
| WEBSTER, Stephen | Director | 2013-12-05 | 2021-04-30 |
| YOUNGKIN, Glenn Allen | Director | 2003-02-28 | 2006-01-18 |
| INSTANT COMPANIES LIMITED | Corporate Nominee Director | 1999-06-25 | 1999-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Qinetiq Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 206 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-10 | AA | accounts | Accounts with accounts type full | |
| 2025-09-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-30 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-08 | AA | accounts | Accounts with accounts type full | |
| 2024-04-23 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-09 | AA | accounts | Accounts with accounts type full | |
| 2023-05-02 | CH01 | officers | Change person director company with change date | |
| 2022-10-12 | AA | accounts | Accounts with accounts type full | |
| 2022-09-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-12 | AP01 | officers | Appoint person director company with name date | |
| 2022-09-12 | AP01 | officers | Appoint person director company with name date | |
| 2022-08-23 | TM01 | officers | Termination director company with name termination date | |
| 2022-07-28 | TM01 | officers | Termination director company with name termination date | |
| 2022-07-28 | TM02 | officers | Termination secretary company with name termination date | |
| 2022-07-28 | AP01 | officers | Appoint person director company with name date | |
| 2022-07-28 | AP03 | officers | Appoint person secretary company with name date | |
| 2021-11-29 | AP01 | officers | Appoint person director company with name date | |
| 2021-11-29 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- 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.