HORATIO INVESTMENTS LIMITED
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Next accounts due
2026-11-30 (in 6mo)
Last filed for 2025-02-28
Confirmation statement due
2027-03-01 (in 10mo)
Last made up 2026-02-15
Watchouts
None on the register
Cash
£932K
-58.5% vs 2024
Net assets
-£74M
-7.8% lowest in 4 filed years
Employees
45
-42.3% vs 2024
Profit before tax
-£11M
+17% vs 2024
Net assets
6-year trend · vs Financials median
Accounts
6-year trend · latest reflected 2025-02-28
| Metric | Trend | 2020-02-29 | 2021-02-28 | 2022-02-28 | 2023-02-28 | 2024-02-29 | 2025-02-28 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | £19,960,812 | £13,769,214 | |
| Operating profit | — | — | — | — | -£12,704,173 | -£10,589,730 | |
| Profit before tax | — | — | — | — | -£13,119,242 | -£10,889,362 | |
| Net profit | — | — | -£2,968,176 | -£1,883,475 | -£11,427,939 | -£10,446,823 | |
| Cash | — | — | £5,484,395 | £625,475 | £2,243,229 | £931,847 | |
| Total assets less current liabilities | — | — | £111,233 | -£897,242 | -£67,692,464 | -£73,088,344 | |
| Net assets | — | — | £111,233 | -£1,772,242 | -£68,266,395 | -£73,596,531 | |
| Equity | £3,756,463 | £3,079,409 | £111,233 | -£1,772,242 | -£68,266,395 | -£73,596,531 | |
| Average employees | — | — | — | — | 78 | 45 | |
| Wages | — | — | — | — | £4,973,689 | £2,786,315 | |
| Directors' remuneration | — | — | — | — | — | £53,333 |
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 2025-02-28 vs 2024-02-29
-
Turnover
-31%
£19,960,812 £13,769,214
-
Cash
-58.5%
£2,243,229 £931,847
-
Net assets
-7.8%
-£68,266,395 -£73,596,531
lowest in 4 filed years
-
Employees
-42.3%
78 45
-
Operating profit
+16.6%
-£12,704,173 -£10,589,730
-
Profit before tax
+17%
-£13,119,242 -£10,889,362
-
Wages
-44%
£4,973,689 £2,786,315
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 | 2020-02-29 | 2021-02-28 | 2022-02-28 | 2023-02-28 | 2024-02-29 | 2025-02-28 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | — | -63.6% | -76.9% | |
| Net margin | — | — | — | — | -57.3% | -75.9% | |
| Return on capital employed | — | — | — | — | 18.8% | 14.5% | |
| Current ratio | — | — | — | — | 0.17x | 0.12x | |
| Interest cover | — | — | — | — | -29.52x | -27.04x |
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
- HORATIO INVESTMENTS LIMITED 2018-03-01 → present
- WAVEPOWER TECHNOLOGIES LIMITED 2015-05-13 → 2018-03-01
- HORATIO INVESTMENTS LIMITED 2009-11-19 → 2015-05-13
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Bishop Fleming Audit Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The majority shareholder of the Group, and ultimate controlling party, Adam Norris, has provided a letter of support confirming continued financial backing for at least the next 12 months, and has confirmed that no balances owing between the Group that are interest free, unsecured and repayable on demand, will be recalled unless the corresponding company has sufficient liquidity to be able to meet such payments and other financial obligations as they fall due, and remain a going concern for at least 12 months from signing the financial statements.”
Group structure
- HORATIO INVESTMENTS LIMITED · parent
- PST Holdings Limited 85%
- Pure Electric Limited 100%
- Sirron Technologies Limited 100%
- Pure E-Mobility GmbH 100%
- Pure Electric France SAS 100%
- Pure Electric Espana SL 100%
Significant events
- “After the year-end, further equity investments have been made in PST Holdings Limited, a subsidiary of the Company, totalling approximately £2.4m through the allotment of Ordinary B shares.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 8 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| QUAYSECO LIMITED | Corporate Secretary | 2016-12-16 | — | — |
| NORRIS, Adam | Director | 2017-06-12 | May 1971 | British |
Show 8 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOWLES, Martin Andrew | Director | 2017-06-12 | 2024-03-29 |
| BOWLES, Martin Andrew | Director | 2010-01-11 | 2017-03-15 |
| GILLAN, Mark Andrew, Professor | Director | 2017-03-15 | 2017-06-20 |
| MITCHELL-HARRIS, Scott Andrew | Director | 2015-05-11 | 2015-07-31 |
| NICOLAOU, Theofanis | Director | 2014-05-14 | 2015-05-11 |
| NORRIS, Adam | Director | 2014-04-24 | 2017-03-15 |
| NORRIS, Adam | Director | 2009-11-19 | 2010-06-15 |
| RUBIE-TODD, David Christian | Director | 2015-05-11 | 2017-05-24 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Adam Norris | Individual | Shares 75–100%, Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 99 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-07-12 MA Memorandum articles
- 2024-07-12 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-02 | AA | accounts | Accounts with accounts type group | |
| 2025-03-28 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-02-24 | AA | accounts | Accounts with accounts type group | |
| 2025-02-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-14 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-11-14 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-11-14 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-11-14 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-11-14 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-07-12 | MA | incorporation | Memorandum articles | |
| 2024-07-12 | RESOLUTIONS | resolution | Resolution | |
| 2024-04-03 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-30 | AA | accounts | Accounts with accounts type group | |
| 2023-03-02 | AA | accounts | Accounts with accounts type group | |
| 2023-02-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-02-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-10-13 | AA | accounts | Accounts with accounts type total exemption full | |
| 2021-04-14 | 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
- 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.