ONNEC GROUP LIMITED
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Cash
£8.3M
-22.5% vs 2024
Net assets
£10M
+425.8% vs 2024
Employees
722
-1.4% vs 2024
Profit before tax
£16M
+1,151.3% vs 2024
Net assets
2-year trend · vs Technology median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £136,637,822 | £192,998,119 | +41.2% | |
| Operating profit | £3,519,147 | £18,541,237 | +426.9% | |
| Profit before tax | £1,263,315 | £15,807,848 | +1,151.3% | |
| Net profit | £1,062,462 | £13,472,803 | +1,168.1% | |
| Cash | £10,667,167 | £8,269,622 | -22.5% | |
| Total assets less current liabilities | £11,660,385 | £10,816,227 | -7.2% | |
| Net assets | -£3,144,320 | £10,243,460 | +425.8% | |
| Equity | -£3,144,320 | £10,243,460 | +425.8% | |
| Average employees | 732 | 722 | -1.4% | |
| Wages | £41,634,217 | £42,562,386 | +2.2% | |
| Directors' remuneration | £628,167 | £769,459 | +22.5% |
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 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Operating margin | 2.6% | 9.6% | |
| Net margin | 0.8% | 7.0% | |
| Return on capital employed | 30.2% | 171.4% | |
| Gearing (liabilities / total assets) | 105.7% | 85.1% | |
| Current ratio | 1.03x | 1.05x | |
| Interest cover | 1.53x | 6.60x |
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 3 times since incorporation
- ONNEC GROUP LIMITED 2022-07-06 → present
- EXCELREDSTONE SERVICES LIMITED 2018-12-11 → 2022-07-06
- EXCEL I.T SERVICES LIMITED 2008-03-18 → 2018-12-11
- BARNCREST NO.244 LIMITED 2008-01-09 → 2008-03-18
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have assessed the Group's current forecasts, considering reasonable changes in trading performance. Based on this review, the Directors believe that the Group will continue to operate within the resources currently available to it. The Directors accordingly continue to adopt the going concern basis in preparing these financial statements. In light of the current trading, pipeline, cash position and revised forecasts, the directors have assessed the required downturn in revenue and EBITDA for a covenant breach to occur and concluded that a breach is unlikely to occur. This therefore does not impact the basis of preparation of the financial statements and there is no material uncertainty in this regard.”
Group structure
- ONNEC GROUP LIMITED · parent
- ExcelRedstone Limited 100%
- Onnec Germany GmbH 100%
- Onnec Group UK Limited 100%
- Onnec IQ Limited 100%
- Onnec Holdings Limited 100%
- Onnec Holdings Ireland Limited 100%
- Onnec Ireland Limited 100%
- Onnec Group Northern Ireland Limited 100%
- Onnec Denmark Aps 100%
- Onnec USA Inc 100%
- Onnec Singapore PTE Ltd 100%
- Onnec Switzerland GmbH 100%
- Onnec Luxembourg S.a.r.L. 100%
- Onnec Belgium B.V. 100%
- Onnec Netherlands B.V. 100%
- Onnec Services Sweden AB 100%
- Onnec Sweden AB 100%
- Onnec IT Infrastructure Solutions Spain S.L. 100%
- Onnec Network Installation and Maintenance LLC 100%
- Onnec Japan G.K. 100%
- Onnec Finland OY 100%
- Onnec Malaysia SDN BHD 100%
- Onnec Thailand 100%
Significant events
- “During the year, Onnec Services Sweden AB became dormant necessitating an impairment of the investment valued at £95,851. Additionally, it was identified that its investment in Onnec Sweden AB was over accrued by £99,532 in respect of contingent consideration, as such, the Company has reversed its impact.”
- “On 22 October, the company repurchased and cancelled 750,000 ordinary B shares of £0.01 each.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 8 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HORGAN, Barry John | Secretary | 2013-01-15 | — | — |
| BUDD, Mark Andrew | Director | 2021-04-01 | Sep 1975 | British |
| HORGAN, Barry John | Director | 2013-01-15 | Aug 1971 | Irish |
| HUINCK, Philippe | Director | 2023-10-09 | Jan 1966 | Dutch |
| MOELLER-JENSEN, Jakob | Director | 2008-03-27 | Mar 1973 | Danish |
| MORRISH, Simon Hobart Charles | Director | 2008-06-02 | Oct 1974 | British |
Show 8 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HORGAN, Barry John | Secretary | 2008-03-27 | 2013-01-14 |
| FOOT ANSTEY SARGENT SECRETARIAL LIMITED | Corporate Secretary | 2008-01-09 | 2008-03-27 |
| HORGAN, Barry John | Director | 2008-03-27 | 2013-01-14 |
| JEFFREYS, Gary | Director | 2008-04-09 | 2011-01-14 |
| PORTER, Matthew | Director | 2019-02-28 | 2023-10-05 |
| SMITH, Mark Edward | Director | 2008-04-09 | 2017-09-05 |
| FOOT ANSTEY SARGENT INCORPORATIONS LIMITED | Corporate Director | 2008-01-09 | 2008-03-27 |
| FOOT ANSTEY SARGENT SECRETARIAL LIMITED | Corporate Director | 2008-01-09 | 2008-03-27 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Solar Ventus Limited | Corporate entity | Voting 25–50% | 2021-04-01 | Active |
Filing timeline
Last 20 of 165 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-10-22 RESOLUTIONS Resolution
- 2025-09-11 RESOLUTIONS Resolution
- 2025-01-09 RESOLUTIONS Resolution
- 2025-01-09 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-29 | AA | accounts | Accounts with accounts type group | |
| 2026-01-05 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-22 | RESOLUTIONS | resolution | Resolution | |
| 2025-10-22 | SH06 | capital | Capital cancellation shares | |
| 2025-10-22 | SH03 | capital | Capital return purchase own shares | |
| 2025-09-11 | RESOLUTIONS | resolution | Resolution | |
| 2025-07-31 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-04-16 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-04-08 | AA | accounts | Accounts with accounts type group | |
| 2025-02-24 | AA01 | accounts | Change account reference date company previous extended | |
| 2025-02-07 | SH01 | capital | Capital allotment shares | |
| 2025-02-06 | SH01 | capital | Capital allotment shares | |
| 2025-02-06 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-02-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-01-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-01-22 | AA | accounts | Accounts with accounts type group | |
| 2025-01-13 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-01-09 | RESOLUTIONS | resolution | Resolution | |
| 2025-01-09 | MA | incorporation | Memorandum articles | |
| 2025-01-08 | SH10 | capital | Capital variation of rights attached to shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 5
- 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.