PROTEAN ELECTRIC LIMITED

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  Material uncertainty over going concern

  Despite concluding it is appropriate to prepare the accounts on the going concern basis, the Directors recognise that the wider group support is not a formal legal commitment, and consequently a material uncertainty exists, as explained further in Note 1.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

• ·

  Going-concern uncertainty disclosed

• ·

  Negative shareholders' funds

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

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.

1. PROTEAN ELECTRIC LIMITED 2009-04-14 → present
2. ELECTRIC MOTOR WORKS LIMITED 2008-11-12 → 2009-04-14

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

UHY Hacker Young

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Despite concluding it is appropriate to prepare the accounts on the going concern basis, the Directors recognise that the wider group support is not a formal legal commitment, and consequently a material uncertainty exists, as explained further in Note 1.”

Group structure

1. PROTEAN ELECTRIC LIMITED · parent
   1. Protean Electric (Tianjin) Co. Ltd 100% · China · design and development of electric In-Wheel motors

Significant events

• “After the reporting date, on 26 February 2026, the Company entered into a deed of loan waiver with its parent company, Protean Electric Holdings Limited under which all outstanding inter-company debt was irrevocably waived.”
• “Following the above event the ownership of the Company was transferred from Protean Electric Holdings Ltd to BD Auto & Energy Limited.”
• “On 26 February 2026 the Company entered into a deed of capitalisation with BD Auto and Energy Ltd. Under the terms of the deed, intercompany debt of €43.75 million and US$ 17.0 million (together with accrued interest) outstanding at 31 December 2025 was released in exchange for the issue of 1,000 fully paid ordinary shares of £1 each.”
• “On 2 March 2026, BD Auto & Energy Limited disposed of its entire interest in the Company to Exedy Corporation, a company incorporated in Japan.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

17

last 12 months

Capital events

1

last 24 months

Officers appointed

6

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.