DRAX CORPORATE LIMITED
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Cash
£133m
-37.5% lowest in 3 filed years
Net assets
-£106m
-121.1% lowest in 3 filed years
Employees
710
-8.6% vs 2024
Profit before tax
-£353m
-243.9% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
Noting the written confirmation of Group support, from Drax Group Holdings Limited, to help the Company honour its liabilities as they fall due, the Directors have assessed the ability of the Group to support when required and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the 12 months from the date of signing these financial statements.
-
Going-concern uncertainty disclosed
-
Negative shareholders' funds
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £152,300,000 | £141,600,000 | £166,800,000 | +17.8% | |
| Operating profit | -£221,200,000 | -£116,600,000 | -£578,800,000 | -396.4% | |
| Profit before tax | -£236,100,000 | £245,100,000 | -£352,700,000 | -243.9% | |
| Net profit | -£211,400,000 | £285,200,000 | -£310,400,000 | -208.8% | |
| Cash | £294,300,000 | £212,500,000 | £132,800,000 | -37.5% | |
| Total assets less current liabilities | £1,923,000,000 | £1,308,500,000 | £518,500,000 | -60.4% | |
| Net assets | £705,900,000 | £503,400,000 | -£106,100,000 | -121.1% | |
| Equity | £705,900,000 | £503,400,000 | -£106,100,000 | -121.1% | |
| Average employees | 638 | 777 | 710 | -8.6% | |
| Wages | £70,200,000 | £76,000,000 | £71,100,000 | -6.4% | |
| Directors' remuneration | £3,200,000 | £3,100,000 | £3,400,000 | +9.7% |
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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | -145.2% | -82.3% | — | |
| Net margin | -138.8% | — | -186.1% | |
| Return on capital employed | -11.5% | -8.9% | -111.6% | |
| Gearing (liabilities / total assets) | — | 87.8% | 103.1% | |
| Current ratio | 0.63x | 0.32x | 0.25x | |
| Interest cover | -1.64x | -0.71x | -3.62x |
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.
Name history
Renamed 1 time since incorporation
- DRAX CORPORATE LIMITED 2017-04-05 → present
- DRAX FINANCE LIMITED 2005-09-13 → 2017-04-05
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“Noting the written confirmation of Group support, from Drax Group Holdings Limited, to help the Company honour its liabilities as they fall due, the Directors have assessed the ability of the Group to support when required and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the 12 months from the date of signing these financial statements.”
Group structure
- DRAX CORPORATE LIMITED · parent
- Drax Asia (Japan) K.K. 100%
- Drax Holdings Limited 100%
- Pinnacle Renewable Energy Inc. 100%
- Abergelli Power Limited 100%
- Alabama Pellets LLC 100%
- C-Capture Limited 3%
- Carbon Removals Denmark A/S 100%
- Houston Pellet Inc. 33%
- Lavington Pellet Limited Partnership 75%
Significant events
- “Subsequent to the year end, on 30 March 2026, a Group subsidiary acquired 100% Ordinary shareholding of Drax BESS EK Limited for an upfront consideration of £2.8 million and a deferred consideration of £1.4 million, whose principal activity is the development of building projects.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 20 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DUNN, Rebecca | Secretary | 2026-03-19 | — | — |
| GARDINER, Dwight Daniel Willard | Director | 2016-01-01 | Jun 1964 | British,American |
| LEMMINK, Frank Hendrikus | Director | 2025-10-03 | Apr 1968 | Dutch |
| PEACOCK, Daniel Andrew | Director | 2026-03-19 | Mar 1979 | British |
| SHEFFIELD, Paul Nathan | Director | 2021-10-27 | Feb 1975 | British |
Show 20 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GLADDEN, Brett | Secretary | 2019-02-01 | 2025-12-05 |
| HUDSON, Philip John | Secretary | 2007-05-15 | 2016-06-30 |
| MCCALLUM, David | Secretary | 2016-07-01 | 2019-01-31 |
| ROTHWELL, Peter Jeffrey | Secretary | 2005-10-20 | 2007-05-15 |
| NOROSE COMPANY SECRETARIAL SERVICES LIMITED | Corporate Secretary | 2005-09-13 | 2005-10-20 |
| THE COMPANY REGISTRATION AGENTS LIMITED | Corporate Nominee Secretary | 2005-09-13 | 2005-09-13 |
| BARKER, Timothy Gwynne | Director | 2005-10-20 | 2006-01-16 |
| BOYD, Gordon Alexander | Director | 2005-10-20 | 2008-08-31 |
| EMERY, Peter Richard | Director | 2005-10-20 | 2015-12-31 |
| GRASBY, Patrick Michael | Director | 2005-10-20 | 2006-01-16 |
| HORSFIELD, Gordon Christopher | Director | 2005-10-20 | 2006-09-18 |
| KOSS, Andrew Robert | Director | 2016-01-01 | 2020-04-07 |
| QUINLAN, Anthony James | Director | 2008-09-01 | 2015-05-31 |
| SCOTT, Michael Iain | Director | 2014-10-21 | 2015-12-31 |
| SKELTON, Andrew Keith | Director | 2019-06-13 | 2025-10-03 |
| TAYLOR, Paul | Director | 2011-12-09 | 2015-12-31 |
| THOMPSON, Dorothy Carrington | Director | 2005-10-20 | 2014-10-21 |
| LUCIENE JAMES LIMITED | Corporate Director | 2005-09-13 | 2005-09-13 |
| NOROSE COMPANY SECRETARIAL SERVICES LIMITED | Corporate Director | 2005-09-13 | 2005-10-20 |
| NORTON ROSE LIMITED | Corporate Director | 2005-09-13 | 2005-10-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Drax Group Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors, Significant influence | 2016-04-06 | Active |
Filing timeline
Last 20 of 177 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-26 | AA | accounts | Accounts with accounts type full | |
| 2026-06-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-03-23 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-03-23 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-18 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-10-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-10 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-10 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-10 | AA | accounts | Accounts with accounts type full | |
| 2024-11-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-22 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-07-23 | AA | accounts | Accounts with accounts type full | |
| 2024-05-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-04-08 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-02-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-11-06 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2023-10-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-19 | AA | accounts | Accounts with accounts type full | |
| 2022-12-20 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- 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.