PODSYSTEM LIMITED
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Cash
£6.3K
-96.2% lowest in 6 filed years
Net assets
£19M
-7% first positive since 2022
Employees
0
-100% lowest in 6 filed years
Profit before tax
-£1.5M
-105.7% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Accounts not prepared on a going-concern basis
However, due to the intention to wind up the company, these accounts have been prepared on a basis other than a going concern basis.
-
Audit opinion: Qualified
Latest auditor's report carried a non-clean opinion.
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
6-year trend · vs Telecommunications median
Accounts
6-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2019-09-30 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | £3,149,617 | £0 | -100% | |
| Operating profit | — | — | — | — | -£1,496,260 | -£1,134,084 | +24.2% | |
| Profit before tax | — | — | — | — | £25,293,032 | -£1,454,174 | -105.7% | |
| Net profit | — | — | — | — | £25,293,032 | -£1,454,174 | -105.7% | |
| Cash | £86,939 | £142,208 | £193,418 | £99,912 | £167,423 | £6,282 | -96.2% | |
| Total assets less current liabilities | £1,149,928 | £3,015,902 | £1,558,300 | -£4,618,921 | £20,674,111 | £19,219,937 | -7% | |
| Net assets | £935,349 | -£34,491 | -£1,541,685 | -£4,618,921 | £20,674,111 | £19,219,937 | -7% | |
| Equity | £935,349 | -£34,491 | -£1,541,685 | -£4,618,921 | £20,674,111 | £19,219,937 | -7% | |
| Average employees | 3 | 4 | 3 | 2 | 4 | 0 | -100% | |
| Wages | — | — | — | — | £558,701 | £0 | -100% | |
| Directors' remuneration | — | — | — | — | £238,059 | £0 | -100% |
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 | 2019-09-30 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -47.5% | — | |
| Return on capital employed | — | — | — | — | -7.2% | -5.9% | |
| Gearing (liabilities / total assets) | — | — | — | — | 34.2% | 1.0% | |
| Current ratio | — | — | — | — | 2.86x | 96.74x | |
| Interest cover | — | — | — | — | -6.46x | — |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Gravita Audit II Limited
- Audit opinion
- Qualified
- Going concern
- Not a going concern (break-up basis)
“However, due to the intention to wind up the company, these accounts have been prepared on a basis other than a going concern basis.”
Significant events
- “On 1 January 2024 the company's trade and assets were sold to Giesecke+Devrient Mobile Security TCD UK Limited, a group company.”
- “In June 2024, proceedings against the company were initiated by the former joint venture partner at the International Court of Arbitration in respect of a damages claim of £3.2m.”
- “On 19 December 2024 a liquidator was appointed in respect of Luner.io Limited, the company's former subsidiary.”
- “On 1 November 2023, the company terminated its joint venture agreement in respect of operations in Mexico for commercial reasons.”
- “The company's subsidiaries in Hong Kong, Spain and USA were sold within the G+D group on 31 December 2023 for consideration of €32.6m.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
1 active · 12 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ELLIOTT, Alistair Jeffrey | Director | 2021-07-07 | Apr 1974 | British |
Show 12 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| LOWE, Alan | Secretary | 2000-08-09 | 2012-01-26 |
| TOWERS CLARK, Charles | Secretary | 1999-09-27 | 2000-08-09 |
| TOWERS-CLARK, Charles William | Secretary | 2012-01-26 | 2020-12-01 |
| LOWE, Alan | Director | 2000-08-09 | 2012-01-26 |
| ROSE, Thomas Michael | Director | 2020-12-01 | 2021-08-27 |
| STARK, Richard | Director | 1999-09-27 | 2007-07-10 |
| THOROGOOD, Thomas Edward | Director | 2004-09-01 | 2010-10-01 |
| TOWERS CLARK, Charles | Director | 1999-09-27 | 2020-12-01 |
| TOWERS-CLARK, Richard James | Director | 1999-09-27 | 2007-07-10 |
| TOWERS-CLARK, Sandra Towers-Clark Patricia Monique | Director | 2016-05-24 | 2020-12-01 |
| TOWERS-CLARK, Sandra Towers-Clark Patricia Monique | Director | 2014-10-01 | 2015-09-01 |
| TOWERS-CLARK, Sandra Towers-Clark Patricia Monique | Director | 2012-01-26 | 2014-10-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Giesecke+Devrient Mobile Security Tcd Uk Limited | Corporate entity | Shares 75–100% | 2025-03-31 | Active |
| Giesecke+Devrient Mobile Security Germany Gmbh | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-07-07 | Ceased 2025-03-31 |
| Mr Charles William Towers-Clark | Individual | Shares 25–50% | 2016-04-06 | Ceased 2021-07-07 |
| Mrs Sandra Patricia Monique Towers-Clark | Individual | Shares 25–50% | 2016-04-06 | Ceased 2021-07-07 |
Filing timeline
Last 20 of 126 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-01-20 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-14 | AD02 | address | Change sail address company with new address | |
| 2026-03-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-29 | AA | accounts | Accounts with accounts type full | |
| 2025-11-19 | AA | accounts | Accounts with accounts type full | |
| 2025-08-04 | AA | accounts | Accounts with accounts type small | |
| 2025-05-22 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-05-21 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-05-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-11 | AA | accounts | Accounts with accounts type small | |
| 2024-04-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-20 | RESOLUTIONS | resolution | Resolution | |
| 2023-03-23 | DISS40 | gazette | Gazette filings brought up to date | |
| 2023-03-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-03-07 | GAZ1 | gazette | Gazette notice compulsory | |
| 2022-03-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-12-17 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2021-08-27 | TM01 | officers | Termination director company with name termination date | |
| 2021-08-27 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2021-08-27 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2021-07-22 | MR04 | mortgage | Mortgage satisfy charge full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- 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.