ELECTRIC GLASS FIBER UK, LTD.
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Cash
£1.6m
-39.7% lowest in 3 filed years
Net assets
£2m
-84.7% lowest in 3 filed years
Employees
239
-3.2% lowest in 3 filed years
Profit before tax
-£11m
-216.3% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Accounts not prepared on a going-concern basis
As the company has ceased to trade and the directors are in the process of a controlled wind down, sale and/or liquidation of assets, the directors have not prepared the financial statements on a going concern basis. For further details the effect of this, please see note 22.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2022-12-31 | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £66,396,000 | £56,104,000 | £54,925,000 | -2.1% | |
| Operating profit | £8,325,000 | -£2,274,000 | -£9,813,000 | -331.5% | |
| Profit before tax | £7,611,000 | -£3,475,000 | -£10,990,000 | -216.3% | |
| Net profit | £7,414,000 | -£3,467,000 | -£11,255,000 | -224.6% | |
| Cash | £6,283,000 | £2,615,000 | £1,577,000 | -39.7% | |
| Total assets less current liabilities | £15,731,000 | £13,088,000 | £2,067,000 | -84.2% | |
| Net assets | £15,731,000 | £13,075,000 | £1,995,000 | -84.7% | |
| Equity | £15,731,000 | £13,075,000 | £1,995,000 | -84.7% | |
| Average employees | 250 | 247 | 239 | -3.2% | |
| Wages | £9,481,000 | £9,516,000 | £9,522,000 | +0.1% | |
| Directors' remuneration | £193,000 | £171,000 | £262,000 | +53.2% | |
| Directors' pension contributions | £10,000 | £11,000 | £16,000 | +45.5% | |
| Highest paid director | — | £171,000 | £192,000 | +12.3% |
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 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Operating margin | 12.5% | -4.1% | -17.9% | |
| Net margin | 11.2% | -6.2% | -20.5% | |
| Return on capital employed | 52.9% | -17.4% | -474.7% | |
| Gearing (liabilities / total assets) | 67.8% | 67.6% | 94.6% | |
| Current ratio | 0.97x | 0.98x | 0.67x | |
| Interest cover | 11.66x | -1.89x | -8.34x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Not a going concern (break-up basis)
“As the company has ceased to trade and the directors are in the process of a controlled wind down, sale and/or liquidation of assets, the directors have not prepared the financial statements on a going concern basis. For further details the effect of this, please see note 22.”
Significant events
- “On 3rd April 2025, NEG, the parent company of EGFU, resolved at the Board of Directors meeting to cease the operation of EGFU and announced of Strategic Review of Composites Business at EGFU.”
- “Subsequently, following approximately two and a half months of consideration, NEG determined at the Board of Directors meeting held on 18th June 2025 that suspending EGFU's business activities and proceeding with liquidation would be the most appropriate course of action to enable an early turnaround of the NEG Group's composites business.”
- “Production at EGFU was scheduled to cease in late June 2025, after which NEG proceeded with the settlement of receivables and payables and made preparations for liquidation.”
- “Following the cessation of its business operations in June 2025, the Company complied with applicable UK employment legislation by appropriately conducting the statutory redundancy procedures, including required advance briefing and consultation, and completed employee redundancies, with total redundancy payments amounting to £4,128k.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
1 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| OTANI, Masanori, Mr. | Director | 2025-10-20 | Jan 1964 | Japanese |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BAKKER, Teun | Director | 2024-02-19 | 2025-08-31 |
| HASUNO, Masao | Director | 2024-01-20 | 2024-02-19 |
| KEETON, Steven | Director | 2020-06-01 | 2024-01-19 |
| STEWART, Brian Keith | Director | 2016-10-01 | 2020-06-01 |
| TAKAGI, Toshiaki | Director | 2025-09-01 | 2025-10-19 |
| TAKEUCHI, Hirokazu | Director | 2016-07-08 | 2016-10-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Nippon Electric Glass Co., Ltd. | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-07-08 | Active |
Filing timeline
Last 20 of 35 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-14 | AA | accounts | Accounts with accounts type full | |
| 2026-07-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-21 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-20 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-08 | AA | accounts | Accounts with accounts type full | |
| 2024-07-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-02-20 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-20 | AP01 | officers | Appoint person director company with name date | |
| 2024-01-24 | TM01 | officers | Termination director company with name termination date | |
| 2024-01-24 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-01 | AA | accounts | Accounts with accounts type full | |
| 2023-07-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-07 | AA | accounts | Accounts with accounts type full | |
| 2022-07-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-10-02 | AA | accounts | Accounts with accounts type full | |
| 2021-07-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-06-30 | AD01 | address | Change registered office address company with date old address new address |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- 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.