WILDANET LIMITED
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Cash
£6.6m
+98.5% highest in 6 filed years
Net assets
-£115m
-35.5% lowest in 6 filed years
Employees
179
-15.6% vs 2024
Profit before tax
-£30m
+59.4% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
A material uncertainty exists in relation to the Company's future funding requirements, contingent on future performance and differing strategic options, and would potentially result in funding being withheld or its longer-term funding requirement increasing significantly. These circumstances indicate a material uncertainty.
-
Going-concern uncertainty disclosed
-
Negative shareholders' funds
Net assets
6-year trend · vs Telecommunications median
Accounts
6-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2020-11-30 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|---|
| Turnover | — | — | £655,532 | £1,367,658 | £1,757,580 | £2,513,624 | +43% | |
| Operating profit | — | — | -£7,174,998 | -£9,115,410 | -£63,263,523 | -£14,453,591 | +77.2% | |
| Profit before tax | — | — | -£9,067,355 | -£14,054,341 | -£74,304,963 | -£30,202,486 | +59.4% | |
| Net profit | -£989,835 | -£7,695,180 | -£8,840,402 | -£13,908,443 | -£74,282,826 | -£30,202,486 | +59.3% | |
| Cash | £104,937 | £1,912,892 | £592,660 | £685,402 | £3,334,701 | £6,619,969 | +98.5% | |
| Total assets less current liabilities | £116,516 | £7,206,843 | £19,553,119 | £54,963,659 | £9,922,365 | — | — | |
| Net assets | £2,982 | -£4,340,689 | -£9,161,091 | -£14,479,369 | -£85,062,196 | — | — | |
| Equity | £2,982 | -£4,340,689 | -£9,161,091 | -£14,479,369 | — | -£115,264,682 | — | |
| Average employees | 22 | 57 | 119 | 184 | 212 | 179 | -15.6% | |
| Wages | — | — | £2,471,744 | £3,725,341 | £5,609,441 | £3,881,882 | -30.8% | |
| Directors' remuneration | — | — | £658,076 | £675,538 | £522,832 | £519,641 | -0.6% | |
| Directors' pension contributions | £NaN | £NaN | £16,377 | £16,581 | £12,821 | £12,934 | +0.9% | |
| Highest paid director | £NaN | £NaN | £166,160 | £216,962 | £199,618 | £204,043 | +2.2% |
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 | 2020-11-30 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|---|---|---|
| Return on capital employed | — | — | -36.7% | -16.6% | -637.6% | — | |
| Gearing (liabilities / total assets) | 99.7% | 149.6% | 139.6% | 122.5% | 288.1% | — | |
| Current ratio | — | — | 0.83x | 0.44x | — | — | |
| Interest cover | — | — | -3.78x | -1.85x | -5.72x | -0.91x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- WILDANET LIMITED 2018-01-31 → present
- VERGIS LIMITED 2017-01-26 → 2018-01-31
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PKF Francis Clark
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“A material uncertainty exists in relation to the Company's future funding requirements, contingent on future performance and differing strategic options, and would potentially result in funding being withheld or its longer-term funding requirement increasing significantly. These circumstances indicate a material uncertainty.”
Significant events
- “On 25 February 2026 Wildanet Limited, entered into an agreement to terminate a contract for delivery of its network, for which a final reconciliation of amounts due to and by each party was agreed. incurring a termination fee of £1.5m.”
- “On 16 March 2026 and 18 March 2026 Wildanet Limited, also entered into change requests with BDUK that descoped its remaining build on 2 contracts covering southwest Cornwall (Lot 32.02) and central Cornwall (Lot 32.03) respectively.”
- “On 23 April 2026 Wildanet Limited entered into an amendment agreement with its senior lenders to extend the maturity date to 24 May 2030, reduce the overall interest cost on a tranche of its Term Loan and convert its revolving credit facility into a Term Loan Facility.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 11 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ADCOCK, Simon Mark Peter | Director | 2023-01-27 | Sep 1975 | British |
| HARRIMAN, Martin | Director | 2025-01-09 | Mar 1962 | British |
| INGAMELLS, Stevie | Director | 2023-06-23 | Oct 1992 | British |
| MADHVANI, Jai | Director | 2024-05-31 | Jun 1979 | British |
| PADDISON, Mark | Director | 2018-05-11 | Apr 1965 | British |
Show 11 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BACHMANN, Peter George Ka-Yin | Director | 2020-12-21 | 2023-01-27 |
| BEST, Stephen John | Director | 2023-08-24 | 2025-10-08 |
| BUTTERY, Paul Andrew | Director | 2021-07-22 | 2024-06-30 |
| CALVERT, Ian | Director | 2017-01-26 | 2023-06-23 |
| DEADMAN, Barrington Peter | Director | 2018-04-03 | 2019-10-01 |
| GLEN, Andrew Christopher | Director | 2019-01-22 | 2020-12-21 |
| MCKAY, Charles Richard Harvey | Director | 2017-12-18 | 2022-04-21 |
| MCKAY, Charles Richard Harvey | Director | 2017-12-11 | 2017-12-11 |
| MINSHULL, Eddie Peter | Director | 2021-01-08 | 2021-07-22 |
| WILLIAMS, Martin Glyndwr Hurst | Director | 2022-05-05 | 2024-04-29 |
| WYLDE-ARCHIBALD, Helen Rachael | Director | 2021-01-08 | 2025-03-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Wildanet Midco 2 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-05-09 | Active |
| Wildanet Holdco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-05-08 | Ceased 2024-05-09 |
| Gresham House (Nominees) Limited | Corporate entity | Shares 50–75%, Voting 75–100% | 2022-05-13 | Ceased 2024-05-08 |
| Gresham House Bsi Infrastructure Lp | Corporate entity | Shares 25–50%, Voting 50–75% | 2020-12-21 | Ceased 2022-05-13 |
| Mr David John Reddaway-Richards | Individual | Shares 25–50% | 2017-12-30 | Ceased 2018-05-11 |
| Mrs Miriam Frances Mckay | Individual | Shares 25–50% | 2017-12-30 | Ceased 2018-05-11 |
| Mr Ian Calvert | Individual | Shares 75–100%, Shares 75–100% (as trust), Shares 75–100% (as firm), Voting 75–100%, Voting 75–100% (as trust), Voting 75–100% (as firm), Appoints directors, Appoints directors (as trust), Appoints directors (as firm) | 2017-01-26 | Ceased 2020-12-21 |
Filing timeline
Last 20 of 200 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-28 | AA | accounts | Accounts with accounts type full | |
| 2026-08-28 | AA | accounts | Accounts with accounts type full | |
| 2026-05-15 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-12 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-05-12 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-05-12 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-05-12 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-29 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-28 | CH01 | officers | Change person director company with change date | |
| 2025-10-17 | AAMD | accounts | Accounts amended with accounts type full | |
| 2025-04-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-03-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-01-09 | AP01 | officers | Appoint person director company with name date | |
| 2024-12-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-12 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-12-04 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-11-14 | RP04SH01 | capital | Second filing capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 2
- Officers appointed
- 0
- 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.