METHAX UK LIMITED
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Cash
—
Latest balance sheet
Net assets
-£34m
USD -45,176,000
-6.4% vs 2024
Employees
—
Average over period
Profit before tax
-£4.1m
USD -5,592,000
-3.6% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The Company has made a loss of US$5,592 (2024: US$5,032) in the year and has net current liabilities of US$62 (2024: US$ 13 net current liability). The entity acts as a holding company within the Group and is dependent on the Group for continuing support. The company has received a letter of support from, Galileo Global Technologies Limited
-
Going-concern uncertainty disclosed
-
Negative shareholders' funds
Net assets
3-year trend · vs Energy 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 | — | — | — | — | |
| Operating profit | -£5,491 | -£3,980 | -£2,226 | +44.1% | |
| Profit before tax | -£3,678,224 | -£4,005,094 | -£4,149,907 | -3.6% | |
| Net profit | -£3,678,224 | -£4,005,094 | -£4,149,907 | -3.6% | |
| Cash | — | £796 | — | — | |
| Total assets less current liabilities | — | £13,635,785 | -£33,503,525 | -345.7% | |
| Net assets | — | -£31,505,890 | -£33,525,788 | -6.4% | |
| Equity | — | — | — | — | |
| Average employees | — | — | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | — | £0 | £0 | — | |
| Directors' pension contributions | — | £0 | £0 | — |
Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — 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 |
|---|---|---|---|---|
| Return on capital employed | — | -0.0% | — | |
| Gearing (liabilities / total assets) | — | 330.9% | 363.5% | |
| Current ratio | — | 0.13x | — | |
| Interest cover | -0.00x | -0.00x | -0.00x |
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 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Moore Kingston Smith LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The Company has made a loss of US$5,592 (2024: US$5,032) in the year and has net current liabilities of US$62 (2024: US$ 13 net current liability). The entity acts as a holding company within the Group and is dependent on the Group for continuing support. The company has received a letter of support from, Galileo Global Technologies Limited”
Group structure
- METHAX UK LIMITED · parent
- Galileo Technologies S.A. 56%
Significant events
- “On December 15, 2025, the parent company, Galileo Global Technologies Limited ("GGT"), implemented a comprehensive financial restructuring pursuant to which a substantial portion of the Group's existing indebtedness was converted into equity and the terms of the remaining financing arrangements were amended and restated.”
- “Following the comprehensive financial restructuring and change of control implemented on December 15, 2025 (see note 15), the Group successfully completed an additional bond issuance ("Tap Issue") on January 22, 2026, for a nominal value of USD 1,397 plus USD 1,397 of "Rolled-Up Bonds".”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| AZTEC FINANCIAL SERVICES (UK) LIMITED | Corporate Secretary | 2016-12-21 | — | — |
| FLETCHER, David Ian | Director | 2025-12-15 | Mar 1965 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DE LA ORDEN, Ulises | Director | 2016-12-21 | 2024-08-15 |
| DEL CAMPO, Osvaldo Claudio | Director | 2016-12-21 | 2024-08-15 |
| DICKINSON, Mark Simon | Director | 2016-12-21 | 2018-12-06 |
| OBEROI, Salil | Director | 2018-12-06 | 2025-12-15 |
| SIKORSKI, Thomas Joseph | Director | 2016-12-21 | 2025-12-15 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Galileo Global Technologies | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-12-21 | Ceased 2016-12-21 |
| Galileo Global Technologies Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-12-21 | Active |
Filing timeline
Last 20 of 50 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-07 RESOLUTIONS Resolution
- 2026-03-07 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-04 | AA | accounts | Accounts with accounts type full | |
| 2026-04-02 | AA | accounts | Accounts with accounts type full | |
| 2026-03-07 | RESOLUTIONS | resolution | Resolution | |
| 2026-03-07 | MA | incorporation | Memorandum articles | |
| 2026-02-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-19 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-18 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-18 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-14 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-20 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-31 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-21 | AA | accounts | Accounts with accounts type full | |
| 2024-09-05 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-05 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-24 | AUD | auditors | Auditors resignation company | |
| 2023-09-26 | AA | accounts | Accounts with accounts type full | |
| 2022-12-28 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 2
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.