TXO SYSTEMS LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-06-30
Confirmation statement due
2026-06-27 (in 1mo)
Last made up 2025-06-13
Watchouts
None on the register
Cash
£978K
-84.1% lowest in 5 filed years
Net assets
£16M
+9.4% highest in 5 filed years
Employees
121
+1.7% highest in 5 filed years
Profit before tax
£2M
+1,107% vs 2023
Net assets
6-year trend · vs Telecommunications median
Accounts
6-year trend · latest reflected 2024-06-30
| Metric | Trend | 2019-06-30 | 2020-06-30 | 2021-06-30 | 2022-06-30 | 2023-06-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | £23,472,397 | £24,225,939 | |
| Operating profit | — | — | — | — | -£2,566,838 | £1,705,674 | |
| Profit before tax | — | — | — | — | -£175,035 | £1,762,682 | |
| Net profit | £2,386,314 | £2,051,120 | £2,323,303 | — | £2,988,727 | £1,406,324 | |
| Cash | £1,203,978 | £2,724,824 | £4,533,831 | — | £6,144,893 | £977,502 | |
| Total assets less current liabilities | £6,979,528 | £8,956,941 | £10,766,460 | — | £15,084,947 | £16,491,271 | |
| Net assets | £6,783,867 | £8,598,882 | £10,415,566 | — | £14,945,256 | £16,351,580 | |
| Equity | £6,783,867 | £8,598,882 | £10,415,566 | £8,563,787 | £14,945,256 | £16,351,580 | |
| Average employees | 117 | 111 | 108 | — | 119 | 121 | |
| Wages | £4,510,020 | £4,657,391 | £5,167,329 | — | £8,512,665 | £5,612,742 | |
| Directors' remuneration | — | — | — | — | £3,653,729 | £164,335 |
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
FY2023 → FY2024 · period ending 2024-06-30 vs 2023-06-30
-
Turnover
+3.2%
£23,472,397 £24,225,939
-
Cash
-84.1%
£6,144,893 £977,502
lowest in 5 filed years
-
Net assets
+9.4%
£14,945,256 £16,351,580
highest in 5 filed years
-
Employees
+1.7%
119 121
highest in 5 filed years
-
Operating profit
+166.5%
-£2,566,838 £1,705,674
-
Profit before tax
+1,107%
-£175,035 £1,762,682
-
Wages
-34.1%
£8,512,665 £5,612,742
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 | 2019-06-30 | 2020-06-30 | 2021-06-30 | 2022-06-30 | 2023-06-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -10.9% | 7.0% | |
| Net margin | — | — | — | — | 12.7% | 5.8% | |
| Return on capital employed | — | — | — | — | -17.0% | 10.3% | |
| Gearing (liabilities / total assets) | — | — | — | — | 46.9% | 44.8% | |
| Current ratio | — | — | — | — | 1.77x | 1.88x | |
| Interest cover | — | — | — | — | -261.87x | 315.57x |
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 1 time since incorporation
- TXO SYSTEMS LTD 2011-01-10 → present
- TRANSMISSION ONLY LTD 2005-06-13 → 2011-01-10
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Abridged
- Yes — abridged accounts (limited disclosure)
- Auditor
- UHY Hacker Young
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The group's principal financial instruments comprise bank balances and group banking loans, denominated in a mixture of sterling, dollars and euros. Cash generation across the group remains strong and with further growth forecast across all areas of the business, alongside access to sufficient cash reserves and additional lending facilities, the directors are pleased to state their assessment that the going concern remains appropriate.”
Group structure
- TXO SYSTEMS LTD · parent
- MMX Communications Services Limited 100%
- TXO Systems Inc. 100%
- TXO Systems Limitada 100%
- TXO Systems Pty. 100%
- TXO Systems SAS 100%
- TXO Systems AB 100%
Significant events
- “Following the majority investment in the TXO Group, headed by TXO Systems Ltd, in June 2023 by Towerbrook Capital Partners ("Towerbrook"), the group subsequently acquired two businesses in December 2023. Both strengthened the group's service capability, a key strategic objective, and included Lynx (UK) Limited and Teqport Service GmbH. Further acquisitions are expected in the next period of account, with a strong pipeline of opportunities built post the initial acquisitions. Geographic expansion of the group was seen with the opening of our Australian facility in the period under review.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 12 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CAMPBELL, John Michael Joseph | Director | 2025-08-11 | Dec 1967 | British |
| MOUNTFORD, Thomas Edward | Director | 2025-07-14 | Sep 1986 | British |
| SCOTT, Jonathan Cape | Director | 2026-01-26 | Jun 1966 | British |
Show 12 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| OCKENDEN, Rachel | Secretary | 2005-06-13 | 2013-12-16 |
| BETTINGTON, Stuart Ian | Director | 2006-09-01 | 2011-08-31 |
| COAKLEY, Calvin Lloyd | Director | 2012-10-01 | 2023-06-20 |
| GRIFFITHS, Simon Graham | Director | 2018-12-20 | 2025-02-25 |
| GROSE, Ian Russell | Director | 2025-02-25 | 2025-08-20 |
| OCKENDEN, Alan John | Director | 2005-06-13 | 2023-06-20 |
| OCKENDEN, Rachel | Director | 2005-06-13 | 2023-06-20 |
| PEARCE, Darren Lee | Director | 2015-11-02 | 2024-07-26 |
| PRITCHARD, Ann | Director | 2008-10-20 | 2023-06-20 |
| SEDDAR, Farid | Director | 2024-07-26 | 2024-11-18 |
| WILLIAMS, David Richard | Director | 2022-04-16 | 2023-11-10 |
| WORT, Simon James | Director | 2024-07-26 | 2025-08-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Txo Delta Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-06-20 | Active |
| Mr Alan John Ockenden | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2017-06-13 | Ceased 2023-06-20 |
| Mrs Rachel Ockenden | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2017-06-13 | Ceased 2023-06-20 |
Filing timeline
Last 20 of 144 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-09-15 RP04SH01 Legacy PDF
- 2025-04-11 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-15 | RP04SH01 | change-of-name | Legacy | |
| 2025-09-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-08-22 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-22 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-20 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-14 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-13 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-04-11 | RESOLUTIONS | resolution | Resolution | |
| 2025-04-03 | SH01 | capital | Capital allotment shares | |
| 2025-02-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-28 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-21 | AA01 | accounts | Change account reference date company current extended | |
| 2025-02-20 | AA | accounts | Accounts with accounts type full | |
| 2024-11-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-31 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-31 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-26 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-26 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-12-22 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 1
- Officers appointed
- 3
- Officers resigned
- 2
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.