UNITED TOOLING SOLUTIONS LIMITED

• ⚠

  Material uncertainty over going concern

  For the year ended 31 December 2024, although the group returned an operating loss of £3.3m, which includes other non-operating non-cash adjustments including increased inventory provisions, and write downs (£3.0m). The impairment of prior period investments and other provisions (£11.4m) drove a net loss of £16.1m for the year. At the year end and after these adjustments, the net current liabilities were £28.6m. Since the year end, the group secured new funding support via equity capital and implemented a group-wide restructuring programme to reduce costs to operate profitably and consolidate operations to better serve the core customer base. At the date of approval, many of the restructuring steps have been successfully completed, with some actions ongoing. These actions were not finalised within the anticipated timeframe due to the scale and complexity of the group restructuring and competing operational priorities.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

• Turnover

  +18.9%

  £47,266,265 → £56,214,148

• Cash

  +73%

  £349,778 → £604,943

• Net assets

  -805.2%

  £1,998,476 → -£14,092,730

  lowest in 3 filed years

• Employees

  +20.4%

  206 → 248

  highest in 3 filed years

• Operating profit

  -823.7%

  -£355,520 → -£3,284,009

• Profit before tax

  -37%

  -£11,536,301 → -£15,805,779

• Wages

  +26%

  £6,017,304 → £7,583,651

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

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. UNITED TOOLING SOLUTIONS LIMITED 2017-02-24 → present
2. QUORUM (DEVON) LIMITED 2015-10-28 → 2017-02-24

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Bishop Fleming Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“For the year ended 31 December 2024, although the group returned an operating loss of £3.3m, which includes other non-operating non-cash adjustments including increased inventory provisions, and write downs (£3.0m). The impairment of prior period investments and other provisions (£11.4m) drove a net loss of £16.1m for the year. At the year end and after these adjustments, the net current liabilities were £28.6m. Since the year end, the group secured new funding support via equity capital and implemented a group-wide restructuring programme to reduce costs to operate profitably and consolidate operations to better serve the core customer base. At the date of approval, many of the restructuring steps have been successfully completed, with some actions ongoing. These actions were not finalised within the anticipated timeframe due to the scale and complexity of the group restructuring and competing operational priorities.”

Group structure

1. UNITED TOOLING SOLUTIONS LIMITED · parent
   1. D.H.S. Tool Supply Co. Limited 100% · England
   2. Bideford Tool Limited 100% · England
   3. Euro Grind Marketing Limited 100% · England
   4. South Western Tool Supplies Limited 100% · England
   5. Jaymac (Derby) Limited 100% · England
   6. Cooks of Bedford Limited 100% · England
   7. Bideford Tool (Devon) Limited 100% · England
   8. Kalem Limited 100% · England
   9. Howard Lee & Son Limited 100% · England
   10. Barnes JB Limited 100% · England
   11. ABT Machine Tools & Tooling Limited 100% · Scotland
   12. Kelvin Powertools Limited 100% · England
   13. Drake Tooling and Abrasives Limited 100% · England
   14. Drake Tooling Holdings Limited 100% · England
   15. Toolshop Direct Limited 100% · England
   16. Mettex Fasteners Limited 100% · England
   17. Euro Grind Limited 100% · England
   18. Scott Direct Limited 100% · Scotland
   19. Scott Direct (Peterhead) Limited 100% · Scotland
   20. Seahawk Apparel Limited 100% · Scotland
   21. S.I.I.S. Limited 100% · Scotland

Significant events

• “In March 2024, United Tooling Solutions Group ("UTS") acquired Scott Direct Ltd and SIIS Ltd, both operating within Scotland across eight sites combined. These strategic additions to the Group further strengthened UTS' position in the Scottish region, geographically and with supply categor”
• “UTS' parent company, Troy (UK) Ltd entered trading difficulty in October 2024 which led to a major supply chain restriction to all its customers.”
• “Due to the challenges with the supply chain, the final quarter of 2024 saw a large-scale adverse impact to revenue and profitable returns. Online B2C and wholesale channels were impacted the greatest by the supply chain restrictions from Troy (UK) Limited, with the core B2B business see”
• “On 7 February 2025, Troy (UK) Limited, a parent of the Company, entered administration. This event occurred after the balance sheet date and does not provide evidence of conditions that existed at that date and therefore no adjustment has been made to these financial statements.”
• “On 17 February 2025, a creditor of £25.6m owing by United Tooling Solutions Limited to UTS Group Holdings Limited, a group company, was agreed to be released in whole consideration for the allotment and issue of shares, with this debt converting to equity and improving the net assets”
• “On 26 November 2025, the ultimate controlling party became UTS (Atlas) Limited (Company number 16862045), of UTS Group, Unit 4, Westleigh Business Park, Winchester Avenue, Blaby, Leicester, LE8 4EZ, which is registered in England.”

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

Filings

20

last 12 months

Capital events

1

last 24 months

Officers appointed

2

last 12 months

Officers resigned

3

last 12 months

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