SMULDERS PROJECTS UK LIMITED
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Cash
£998K
-14.1% lowest in 3 filed years
Net assets
£6.5M
+189.4% highest in 3 filed years
Employees
209
+16.8% highest in 3 filed years
Profit before tax
£5.2M
+150.1% highest in 3 filed years
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £31,157,000 | £80,572,000 | £78,839,000 | -2.2% | |
| Operating profit | £2,326,000 | £3,342,000 | £5,963,000 | +78.4% | |
| Profit before tax | £926,000 | £2,093,000 | £5,235,000 | +150.1% | |
| Net profit | £1,140,000 | £2,093,000 | £4,257,000 | +103.4% | |
| Cash | £3,052,000 | £1,162,000 | £998,000 | -14.1% | |
| Total assets less current liabilities | £54,879,000 | £50,681,000 | £49,459,000 | -2.4% | |
| Net assets | £155,000 | £2,248,000 | £6,505,000 | +189.4% | |
| Equity | £155,000 | £2,248,000 | £6,505,000 | +189.4% | |
| Average employees | 114 | 179 | 209 | +16.8% | |
| Wages | £5,688,000 | £9,225,000 | £11,272,000 | +22.2% | |
| Directors' remuneration | £0 | £0 | — | — |
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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 7.5% | 4.1% | 7.6% | |
| Net margin | 3.7% | 2.6% | 5.4% | |
| Return on capital employed | 4.2% | 6.6% | 12.1% | |
| Gearing (liabilities / total assets) | 99.8% | 97.4% | 92.4% | |
| Current ratio | 0.54x | 0.37x | 0.48x | |
| Interest cover | 1.66x | 2.66x | 8.12x |
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
- SMULDERS PROJECTS UK LIMITED 2016-11-24 → present
- SMULDERS UK LIMITED 2016-04-29 → 2016-11-24
Audit & accounting basis
- Accounting basis
- FRS 102 §1A
- Reporting scope
- Standalone (parent only)
- Abridged
- Yes — abridged accounts (limited disclosure)
- Auditor
- UNW LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Taking all the above factors into account, the directors have a reasonable expectation that the company has adequate resources to meet its liabilities as they fall due and continue in operational existence for the foreseeable future without significant curtailment of operations, Accordingly, the financial statements are prepared on a going concern basis with no material uncertainty identified.”
Significant events
- “Work commenced on the Baltic Power Project of 72 TP's in 2024, with completion of this project in June 2025.”
- “In July 2025, the Inch Cape Project of one Offshore Transfer Module (OTM) and one Jacket was also completed.”
- “2025 brought the manufacturing of two Baltyk Power Jackets, with an expected fulfilment date of October 2026.”
- “The start up of the Hornsea Project commenced in May 2025, with requirements of 133 boat landings, anode cages and SIP's.”
- “The purchase of the yard by Smulders in 2021 brought the existing lease agreement between the Company and Shepherd Offshore Group to an end. However, a new agreement of a put option deed was entered into, which allows the Company to sell the freehold back to Shepherd Offshore Group at any time within a period of 10 years, should the Company come to a point of having no project work. The put option is still in place and at this date, there is no need to execute the option.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DE RYCKER, Jan Adolf | Director | 2026-01-31 | Jan 1978 | Belgian |
| MUYLAERT, David Frederik Maria | Director | 2026-01-31 | Oct 1975 | Belgian |
| SANNEN, Gunter | Director | 2016-04-29 | Nov 1970 | Belgian |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| IEMANTS, Raf | Director | 2016-04-29 | 2026-01-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Smulders Group Nv | Corporate entity | Shares 75–100% | 2016-04-29 | Active |
Filing timeline
Last 20 of 30 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-29 | AA | accounts | Accounts with accounts type full | |
| 2026-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-11 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-12 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-09 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-31 | AA | accounts | Accounts with accounts type full | |
| 2025-06-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-02-20 | AA | accounts | Accounts with accounts type full | |
| 2024-05-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-04-17 | AA | accounts | Accounts with accounts type full | |
| 2023-06-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-22 | AA | accounts | Accounts with accounts type full | |
| 2022-05-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-07-14 | AA | accounts | Accounts with accounts type full | |
| 2021-05-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-08-04 | AA | accounts | Accounts with accounts type full | |
| 2020-06-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-01-15 | AUD | auditors | Auditors resignation company | |
| 2019-10-16 | AAMD | accounts | Accounts amended with accounts type full | |
| 2019-10-07 | AA | accounts | Accounts with accounts type total exemption full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 1
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.