GREY TECHNOLOGY LIMITED

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

  +4.2%

  £48,008,786 → £50,005,818

• Cash

  -16.4%

  £27,796,132 → £23,233,914

  lowest in 4 filed years

• Net assets

  +12.1%

  £46,227,197 → £51,798,269

  highest in 4 filed years

• Employees

  -11.9%

  134 → 118

  lowest in 4 filed years

• Operating profit

  +598.1%

  -£1,925,366 → £9,589,936

  first positive since 2023

• Profit before tax

  +1,345.3%

  -£823,091 → £10,249,782

  first positive since 2023

• Wages

  +33.7%

  £3,708,270 → £4,959,178

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.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Ballards LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.”

Group structure

1. GREY TECHNOLOGY LIMITED · parent
   1. Gtech USA Inc 100% · United States · dormant company
   2. Grey Technology (Shanghai) Co Ltd 100%

Significant events

• “2023 was a transitional year for the business. The economic climate for trade continued to be challenging and appropriate steps were taken to implement efficiencies and purchase a warehouse to reduce costs.”
• “The launch of AirRAM 3 was delayed until 2024 to make further enhancements to its design.”
• “profits were hit by a one off payment of £2m for dilapidations to our previously outsourced facility.”
• “2023 returned a loss after tax of £1.2m (2022 £1.9m profit). However, it should be noted this includes exceptional costs of (£3.2m) relating to two retail partners which stretch back to 2017, without which a £2m profit would have been achieved in the year.”
• “long-term progress has been encouraging and expectations are for an improved trading profit in 2024, though this will be reduced by a buy back of 10% of the companies own shares and cash extraction which resulted from a change to the owners marital status.”

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

1

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.