INDURENT RETAIL PROPCO LIMITED
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Cash
£8.8k
lowest in 3 filed years
Net assets
£2.2m
Equity attributable
Employees
—
Average over period
Profit before tax
-£16k
Period ending 2025-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
3-year trend · vs Real Estate median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £298,845 | £95,739 | — | — | |
| Operating profit | £217,886 | £67,028 | -£15,434 | — | |
| Profit before tax | £172,730 | £53,858 | -£15,570 | — | |
| Net profit | £172,730 | £53,858 | -£15,570 | — | |
| Cash | £106,679 | £34,088 | £8,814 | — | |
| Total assets less current liabilities | £2,168,267 | £2,222,125 | £2,206,555 | — | |
| Net assets | £2,168,267 | £2,222,125 | £2,206,555 | — | |
| Equity | £2,168,267 | £2,222,125 | £2,206,555 | — | |
| Average employees | — | — | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | — | — | — | — |
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 —. Year-on-year comparison hidden: this filing covers about 9 months versus 12 months prior. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 72.9% | 70.0% | — | |
| Net margin | 57.8% | 56.3% | — | |
| Return on capital employed | 10.0% | 3.0% | -0.7% | |
| Gearing (liabilities / total assets) | 56.1% | 0.4% | 0.5% | |
| Current ratio | 0.05x | 4.58x | 0.86x | |
| Interest cover | 4.78x | 4.89x | — |
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 1 time since incorporation
- INDURENT RETAIL PROPCO LIMITED 2026-06-02 → present
- TILSTONE RETAIL LIMITED 2016-01-08 → 2026-06-02
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have obtained a letter of support from Wapping Topco Limited (formerly Warehouse REIT Limited), committing to support the Company as required and ensure it has sufficient liquidity to continue trading for at least 12 months from the date of approval of these financial statements. The Directors are also not aware of any material uncertainties that may cast significant doubt upon the Group or this Company's ability to continue as a going concern.”
Significant events
- “On 20 February 2026, the Board signed a handover and termination agreement with Tilstone Partners Limited, simultaneously Indurent Management Limited was appointed as the investment manager for the Group.”
- “On 27 March 2026, the Company entered into a novation agreement with the Parent entity to push down an external loan as noted in Note 12 through the novation of intercompany debt owed within the Group to the Parent entity.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
11 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MUFG CORPORATE GOVERNANCE LIMITED | Corporate Secretary | 2018-03-29 | — | — |
| BRIAN, Charles Thibaut Olivier Augustin | Director | 2025-10-10 | Sep 1992 | French |
| CAREY, Julian Roger | Director | 2025-10-10 | Jun 1981 | British |
| GOENKA, Sumedha | Director | 2025-09-09 | Jul 1990 | Indian |
| KRAUSE, Peter Christopher | Director | 2025-09-09 | Jan 1986 | American |
| LUTTON, William Logan Cameron | Director | 2025-10-10 | Sep 1987 | British |
| OLSEN, Thomas Anthony Lewis | Director | 2025-10-10 | Jul 1976 | British |
| PATEL, Anand Jay | Director | 2025-10-10 | Dec 1995 | British |
| PORTER, Nicholas Anthony Robin | Director | 2025-10-10 | Sep 1983 | British |
| ROSS, Francis Simon | Director | 2025-10-14 | Oct 1987 | Irish |
| TOLLEY, Christopher Simon | Director | 2025-10-10 | Apr 1989 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BIRD, Andrew Charles | Director | 2016-01-08 | 2025-09-09 |
| HOPE, Simon Richard | Director | 2016-05-27 | 2018-03-29 |
| KIRTON, Neil William | Director | 2018-03-29 | 2025-09-09 |
| PITMAN, Aimee Joan Geraldine | Director | 2018-03-29 | 2025-09-09 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tilstone Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-06-30 | Active |
| Nicola Bird | Individual | Shares 25–50%, Voting 25–50% | 2016-05-27 | Ceased 2016-06-30 |
| Simon Hope | Individual | Shares 25–50%, Voting 25–50% | 2016-05-27 | Ceased 2016-06-30 |
| Mrs Margaret Myfanwy Hope | Individual | Shares 25–50%, Voting 25–50% | 2016-05-27 | Ceased 2016-06-30 |
| Mr Andrew Charles Bird | Individual | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2016-06-30 |
Filing timeline
Last 20 of 102 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-06-02 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-02 | AD03 | address | Move registers to sail company with new address | |
| 2026-09-02 | AD02 | address | Change sail address company with new address | |
| 2026-09-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-09-01 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-09-01 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-08-19 | AA | accounts | Accounts with accounts type full | |
| 2026-08-04 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-06-02 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2026-06-02 | CERTNM | change-of-name | Certificate change of name company | |
| 2026-05-26 | AP01 | officers | Appoint person director company with name date | |
| 2026-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-03 | CH01 | officers | Change person director company with change date | |
| 2026-02-02 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 0
- Officers appointed
- 10
- Officers resigned
- 3
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.