SPI PILING LTD

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -32%

  £14,076,532 → £9,577,881

  lowest in 4 filed years

• Cash

  +6,434.3%

  £172 → £11,239

• Net assets

  -46.7%

  £2,872,026 → £1,531,535

  lowest in 6 filed years

• Employees

  -9.7%

  62 → 56

• Operating profit

  -100.4%

  -£577,555 → -£1,157,420

  lowest in 4 filed years

• Profit before tax

  -101.1%

  -£583,679 → -£1,173,684

  lowest in 6 filed years

• Wages

  -7.7%

  £3,107,374 → £2,867,905

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers

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.

1. SPI PILING LTD 2017-03-04 → present
2. SPI APPLETON LIMITED 2012-09-14 → 2017-03-04
3. STEEL PILE INSTALLATIONS LIMITED 1999-11-29 → 2012-09-14

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Barlow Andrews LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company has incurred losses in recent financial periods. Although, to date, the company has generated a modest profit after the year end, the directors recognise that the overall financial position remains sensitive to trading performance and the timing of cash flows. No formal forecasts have been prepared; however, the directors review the company's reserves on a regular basis. The directors have also taken into account letters of support received from a group undertaking and a related company. Having considered these factors, the directors believe that the company will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.”

Group structure

1. SPI PILING LTD · parent
   1. Appleton Piling Limited 100% · England and Wales · Dormant
   2. SPI Appleton Limited 100% · England and Wales · Dormant

Significant events

• “We have experienced challenging trading conditions in 2025 with projects continuing to be delayed. Turnover significantly decreased to £9.5m from £14m in 2024, with pre tax results being a loss of £1.1m compared to a loss of £583k in 2024.”
• “The 2024-2025 financial year saw a slowdown in geotechnical and construction sectors, reduced work due to project delays and uncertainty. The Building Safety Act impacted development timing, postponing projects and reducing workload certainty, leading to a decline in turnover and an operating loss.”
• “Trading conditions remained challenging into 2025-2026, but previously delayed schemes are progressing to construction, improving forward visibility of work. Directors anticipate activity levels to improve as deferred projects are released, though timing and value remain subject to market and client decisions.”
• “Wider geopolitical and regulatory developments, including ongoing conflict in Ukraine and the Middle East, continue to impact the business through economic uncertainty, volatile energy/material costs, and supply chain disruptions. The Building Safety Act further causes project approval and commencement delays, affecting workload visibility. Directors monitor these factors closely.”
• “The company is party to unlimited cross-guarantee arrangements with associated companies in respect of overdrawn bank accounts. The aggregate overdrawn balances of the other guaranteed entities at 31 August 2025 amounted to £3.2m (2024: £4.4m).”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.