TH UK & IRELAND LIMITED
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Cash
£4m
+11.8% vs 2023
Net assets
£2.3m
-90.3% lowest in 4 filed years
Employees
1,837
-13% vs 2023
Profit before tax
-£21m
+37.4% vs 2023
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
4-year trend · vs Consumer Discretionary median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | £46,041,922 | £87,947,750 | £105,362,598 | £99,097,191 | -5.9% | |
| Operating profit | — | — | -£33,762,712 | -£21,211,245 | +37.2% | |
| Profit before tax | -£3,054,689 | -£15,170,113 | -£33,719,756 | -£21,118,788 | +37.4% | |
| Net profit | -£2,662,815 | -£14,973,107 | -£33,991,118 | -£21,436,206 | +36.9% | |
| Cash | £2,124,156 | £6,575,971 | £3,533,876 | £3,950,762 | +11.8% | |
| Total assets less current liabilities | £32,708,390 | £53,143,283 | £27,730,285 | £6,921,944 | -75% | |
| Net assets | £32,492,390 | £52,519,283 | £23,741,433 | £2,305,227 | -90.3% | |
| Equity | £32,492,390 | £52,519,283 | £23,741,433 | £2,305,227 | -90.3% | |
| Average employees | 1,033 | 2,218 | 2,111 | 1,837 | -13% | |
| Wages | £15,554,982 | £29,154,765 | £33,333,264 | £35,142,103 | +5.4% | |
| Directors' remuneration | £222,591 | £233,365 | £231,462 | £187,819 | -18.9% |
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 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|
| Operating margin | — | — | -32.0% | -21.4% | |
| Net margin | -5.8% | -17.0% | -32.3% | -21.6% | |
| Return on capital employed | — | — | -121.8% | -306.4% | |
| Gearing (liabilities / total assets) | — | — | 61.7% | 95.2% | |
| Current ratio | — | — | 0.42x | 0.30x |
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
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The accompanying financial statements have been prepared on a going concern basis, which assumes the company will continue in operation for the foreseeable future.”
Significant events
- “Since the year end, as part of Company's regular active management of the store portfolio and continuous cost management, certain stores have been closed and certain non-trading leases exited.”
- “On 12 March 2026, the company's majority shareholder and RBI agreed to extend the term of the Master Franchise Development Agreement for a further 20 years.”
- “Following such recapitalisation, all agreed amounts due by the Company to related parties at the end of December 2025 will have been settled by capitalising £26.7m into equity and repaying £0.4m in cash.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ALPERI SUAREZ, Lucas | Director | 2026-03-05 | Mar 1986 | Spanish |
| DHALIWAL, Gurprit | Director | 2016-07-29 | Dec 1982 | British |
| DHILLON, Jaipal Singh | Director | 2016-07-29 | Sep 1990 | British |
| KANDOLA, Surinder Singh | Director | 2016-07-29 | Mar 1965 | British |
| MABY, Alex | Director | 2024-07-29 | Jan 1974 | British |
| MALACARNE ROSSI, Renato | Director | 2025-12-30 | Jan 1979 | Italian |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BRIGLEB, Christopher | Director | 2024-08-21 | 2025-12-30 |
| DI SILVIO, Andrea | Director | 2021-04-30 | 2024-08-21 |
| HYDES, Kevin John | Director | 2018-02-02 | 2024-07-29 |
| KANDOLA, Jatinder | Director | 2016-07-29 | 2018-02-02 |
| LLOBELL, Jose Luis | Director | 2024-08-21 | 2025-12-30 |
| MACEDO, Alexandre Grein De | Director | 2018-02-02 | 2020-04-03 |
| MASSON DE SOUZA E SILVA, Adriana | Director | 2025-12-30 | 2026-03-05 |
| MAYER, Elena | Director | 2020-04-03 | 2022-05-06 |
| MUNIZ, Lucas Lopes, Mr. | Director | 2016-12-21 | 2020-04-03 |
| PAGANO, Antonio John | Director | 2016-07-29 | 2016-12-21 |
| SANTELMO, Thiago Temer | Director | 2022-05-06 | 2024-08-21 |
| SESE, Elias Diaz | Director | 2016-07-29 | 2018-02-02 |
| SHEAR, David Chan | Director | 2020-04-03 | 2021-04-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Surinder Singh Kandola | Individual | Shares 50–75% | 2016-07-29 | Active |
Filing timeline
Last 20 of 68 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-30 RESOLUTIONS Resolution
- 2025-01-30 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-30 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-28 | AA | accounts | Accounts with accounts type full | |
| 2026-03-25 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2026-03-16 | SH01 | capital | Capital allotment shares | |
| 2026-03-05 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-05 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-09 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-16 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-16 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-04-14 | AA | accounts | Accounts with accounts type full | |
| 2025-01-30 | RESOLUTIONS | resolution | Resolution | |
| 2025-01-23 | SH01 | capital | Capital allotment shares | |
| 2024-09-10 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-10 | AP01 | officers | Appoint person director company with name date | |
| 2024-09-10 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-03 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-12 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-12 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 2
- Officers appointed
- 2
- 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.