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
£169m
-9% vs 2025
Net assets
£798m
+3.9% highest in 3 filed years
Employees
5,026
-6.4% lowest in 3 filed years
Profit before tax
£245m
+29.9% highest in 3 filed years
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £1,245,400,000 | £1,294,300,000 | £1,387,700,000 | +7.2% | |
| Operating profit | £175,400,000 | £150,700,000 | £207,000,000 | +37.4% | |
| Profit before tax | £211,300,000 | £188,400,000 | £244,800,000 | +29.9% | |
| Net profit | £165,000,000 | £144,800,000 | £193,800,000 | +33.8% | |
| Cash | £150,900,000 | £185,200,000 | £168,600,000 | -9% | |
| Total assets less current liabilities | £882,500,000 | £938,100,000 | £972,600,000 | +3.7% | |
| Net assets | £752,000,000 | £768,100,000 | £798,300,000 | +3.9% | |
| Equity | £752,000,000 | £768,100,000 | £798,300,000 | +3.9% | |
| Average employees | 5,218 | 5,367 | 5,026 | -6.4% | |
| Wages | £280,400,000 | £292,200,000 | £291,000,000 | -0.4% | |
| Directors' remuneration | £1,900,000 | £1,800,000 | £2,000,000 | +11.1% | |
| Directors' pension contributions | £100,000 | £100,000 | £100,000 | 0% | |
| Highest paid director | £1,032,000 | £554,000 | £1,000,000 | +80.5% |
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 | 2026-03-31 |
|---|---|---|---|---|
| Operating margin | 14.1% | 11.6% | 14.9% | |
| Net margin | 13.2% | 11.2% | 14.0% | |
| Return on capital employed | 19.9% | 16.1% | 21.3% | |
| Gearing (liabilities / total assets) | 45.5% | 48.0% | 47.2% | |
| Current ratio | 1.72x | 2.02x | 2.02x | |
| Interest cover | 38.98x | 20.93x | 28.36x |
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
- IFRS
- Reporting scope
- Standalone (parent only)
- Abridged
- Yes — abridged accounts (limited disclosure)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“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.”
Group structure
- QINETIQ LIMITED · parent
- Qinetic Limited 100%
- QinetiQ Estates Limited 100%
- QinetiQ Insurance PCC Limited 100%
- QinetiQ PFP Limited Partnership
- QinetiQ Target Services Limited 100%
Significant events
- “In June 2023, in Virgin Media Limited v NTL Pension Trustees II Limited, the UK High Court ruled that specific historical amendments to contracted-out defined benefit schemes in the period from 6 April 1997 to 3 April 2016 were invalid as they lacked a confirmation under section 37 of the Pension Schemes Act 1993 from the scheme's actuary. Following a review of the equivalent documentation by the Scheme's lawyers, we consider that there is no need for any further investigation at this stage and that the probability of a significant financial impact is remote.”
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 207 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-04 | AA | accounts | Accounts with accounts type full | |
| 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 |
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.