ETL SYSTEMS LIMITED
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Next accounts due
2027-02-28 (in 9mo)
Last filed for 2025-05-31
Confirmation statement due
2027-03-16 (in 10mo)
Last made up 2026-03-02
Watchouts
None on the register
Cash
£3M
-36.8% vs 2024
Net assets
£41M
+14.1% vs 2024
Employees
187
+7.5% vs 2024
Profit before tax
£5M
-21.4% vs 2024
Net assets
2-year trend · vs Technology median
Accounts
2-year trend · latest reflected 2025-05-31
| Metric | Trend | 2024-05-31 | 2025-05-31 |
|---|---|---|---|
| Turnover | £29,016,593 | £30,371,640 | |
| Operating profit | £6,810,782 | £5,326,842 | |
| Profit before tax | £6,939,851 | £5,454,684 | |
| Net profit | £7,364,112 | £5,044,172 | |
| Cash | £5,396,227 | £3,409,851 | |
| Total assets less current liabilities | £37,480,560 | £44,150,948 | |
| Net assets | £35,848,500 | £40,892,672 | |
| Equity | £35,848,500 | £40,892,672 | |
| Average employees | 174 | 187 | |
| Wages | £9,568,084 | £10,523,901 | |
| Directors' remuneration | £1,097,367 | £933,789 |
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
Year-on-year
FY2024 → FY2025 · period ending 2025-05-31 vs 2024-05-31
-
Turnover
+4.7%
£29,016,593 £30,371,640
-
Cash
-36.8%
£5,396,227 £3,409,851
-
Net assets
+14.1%
£35,848,500 £40,892,672
-
Employees
+7.5%
174 187
-
Operating profit
-21.8%
£6,810,782 £5,326,842
-
Profit before tax
-21.4%
£6,939,851 £5,454,684
-
Wages
+10%
£9,568,084 £10,523,901
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-05-31 | 2025-05-31 |
|---|---|---|---|
| Operating margin | 23.5% | 17.5% | |
| Net margin | 25.4% | 16.6% | |
| Return on capital employed | 18.2% | 12.1% | |
| Current ratio | 8.58x | 3.86x | |
| Interest cover | — | 61.69x |
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
- ETL SYSTEMS LIMITED 2006-06-06 → present
- ETL HOLDINGS LIMITED 2003-05-06 → 2006-06-06
- FEREX SOLUTIONS LTD 2003-02-26 → 2003-05-06
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- S&W Audit
- 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. 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.”
Group structure
- ETL SYSTEMS LIMITED · parent
- ETL Systems Inc 100%
- Spacepath Communications Limited 100%
- ETL Systems Canada Inc 100%
Significant events
- “On 18 October 2024, ETL Systems Limited bought 100% of the share capital of Spacepath Communications Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| STEPHENS, Paul Christopher | Secretary | 2014-04-24 | — | — |
| BAYAR, Esen, Dr | Director | 2003-04-29 | Jun 1957 | British |
| DUNNE, Kevin Leslie | Director | 2023-01-23 | Jun 1979 | British |
| HILDITCH, Ian Graham | Director | 2003-04-29 | Jun 1962 | British |
| STEPHENS, Paul Christopher | Director | 2014-04-24 | Mar 1962 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HILDITCH, Ian Graham | Secretary | 2003-04-29 | 2014-04-24 |
| FORM 10 SECRETARIES FD LTD | Corporate Nominee Secretary | 2003-02-26 | 2003-04-29 |
| BAYAR, Mine | Director | 2016-04-15 | 2020-01-24 |
| HILDITCH, Joanna | Director | 2016-04-15 | 2020-01-24 |
| KANTER, Ralph Thomas Ludwig | Director | 2009-12-16 | 2013-07-30 |
| VERKROOST, Fredrik Christiaan | Director | 2014-05-01 | 2020-01-23 |
| FORM 10 DIRECTORS FD LTD | Corporate Nominee Director | 2003-02-26 | 2003-04-29 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Cbpe Capital Llp | Corporate entity | Voting 25–50%, Appoints directors | 2020-03-04 | Ceased 2021-12-20 |
| Cbpe Capital Ix Gp Llp | Corporate entity | Shares 25–50% | 2020-03-04 | Ceased 2021-12-20 |
| Etl Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-01-23 | Active |
| Mr Ian Graham Hilditch | Individual | Shares 25–50% | 2016-04-06 | Ceased 2020-01-23 |
| Dr Esen Bayar | Individual | Shares 25–50% | 2016-04-06 | Ceased 2020-01-23 |
Filing timeline
Last 20 of 116 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-28 | AA | accounts | Accounts with accounts type full | |
| 2026-03-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-04-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-03-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-02-11 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-11-02 | AA | accounts | Accounts with accounts type full | |
| 2024-03-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-10 | AA | accounts | Accounts with accounts type full | |
| 2023-03-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-02-02 | AP01 | officers | Appoint person director company with name date | |
| 2022-11-02 | AA | accounts | Accounts with accounts type full | |
| 2022-03-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-20 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2021-12-20 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2021-12-02 | AA | accounts | Accounts with accounts type full | |
| 2021-03-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-12-04 | AA | accounts | Accounts with accounts type group | |
| 2020-04-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2020-04-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2020-03-05 | CS01 | confirmation-statement | Confirmation statement with updates |
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.