PROPULSION TECHNOLOGIES LIMITED

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

  -21%

  £18,868,598 → £14,911,508

• Cash

  0%

  £10,000 → £10,000

• Net assets

  -31.2%

  -£5,791,188 → -£7,598,543

• Employees

  +7%

  43 → 46

• Operating profit

  -154.9%

  £2,959,304 → -£1,623,932

• Profit before tax

  -226.2%

  £1,969,668 → -£2,486,299

• Wages

  -5.2%

  £2,008,931 → £1,904,517

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. PROPULSION TECHNOLOGIES LIMITED 2025-12-03 → present
2. HOFER POWERTRAIN PRODUCTS UK LTD. 2016-08-19 → 2025-12-03

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Constantin

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. The directors are satisfied that the business is where they would expect it to be given its relatively early stage of development. The company is now operating profitably and that is expected to continue in the coming years. The directors therefore consider that the going concern basis for preparing the financial statements is entirely appropriate.”

Significant events

• “As of 30.09.2025 bad debts were provided of £4,162,000. Of this amount £3,553,817 relates to trade receivables outstanding as at 31 December 2024 and £608,183 pertains to post year-end balances in connection with the insolvency of Powertrain Warwick Ltd (formerly Hofer Powertrain UK Limited). Following this development, the company has restructured its supply chain operations and now operates as a tier one automotive supplier, supplying directly to the end customer. This strategic change has ensured that operations remain unaffected and mitigates future credit risk exposure.”
• “Following the year-end the ElringKlinger Group has introduced a cost reduction programme named 'Streamline'. The aim of the programme is to reduce personnel expenditure by optimising capacity levels, improving the company's ability to compete on a sustainable basis. As a result of the programme, five employees have been made redundant following the year-end.”
• “Elring Klinger AG (EKAG) has held ongoing negotiations with Hofer AG to try and acquire their 47% shareholding in Hofer Powertrain Products UK Limited. As both Hofer AG and its subsidiary Powertrain Warwick Ltd (formerly Hofer Powertrain UK Limited) are now in administration, EKAG have subsequently been in negotiations with the appointed Administrators to acquire the shares, and at this current time the outcome is still uncertain.”

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

Filings

13

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

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