INEOS FPS LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-19 (in 6mo)
Last made up 2025-11-05
Watchouts
None on the register
Cash
£14M
+1.4% vs 2023
Net assets
£63M
-35.8% vs 2023
Employees
478
-1.8% vs 2023
Profit before tax
-£29M
+37.2% vs 2023
Net assets
2-year trend · vs Energy median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £331,532,000 | £319,125,000 | |
| Operating profit | -£38,048,000 | -£23,806,000 | |
| Profit before tax | -£46,545,000 | -£29,245,000 | |
| Net profit | -£47,699,000 | -£35,124,000 | |
| Cash | £13,423,000 | £13,613,000 | |
| Total assets less current liabilities | £399,338,000 | £352,312,000 | |
| Net assets | £97,975,000 | £62,851,000 | |
| Equity | £97,975,000 | £62,851,000 | |
| Average employees | 487 | 478 | |
| Wages | £38,944,000 | £40,643,000 | |
| Directors' remuneration | £0 | £0 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-3.7%
£331,532,000 £319,125,000
-
Cash
+1.4%
£13,423,000 £13,613,000
-
Net assets
-35.8%
£97,975,000 £62,851,000
-
Employees
-1.8%
487 478
-
Operating profit
+37.4%
-£38,048,000 -£23,806,000
-
Profit before tax
+37.2%
-£46,545,000 -£29,245,000
-
Wages
+4.4%
£38,944,000 £40,643,000
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -11.5% | -7.5% | |
| Net margin | -14.4% | -11.0% | |
| Return on capital employed | -9.5% | -6.8% | |
| Gearing (liabilities / total assets) | 81.3% | 87.1% | |
| Current ratio | 0.77x | 0.96x | |
| Interest cover | -2.39x | -1.67x |
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
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“After making enquiries, the directors have a reasonable expectation that the parent's going concern assessment confirms that there is sufficient forecast committed liquidity headroom for the parent to provide this support and the Company will therefore have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Company continues to adopt the going concern basis in preparing its financial statements.”
Significant events
- “The Company completed a refinancing of the term loan and revolving credit facility with lenders on 29 April 2024 which extended the loan maturity to December 2027.”
- “The Company invested £19,319,000 in assets under construction. The major activity centred around the ongoing construction of two new ground flares at Kinneil.”
- “The Company extended the terms of the financing facility with lenders. The amendment and restatement relates to the term loan and revolving credit facility agreement. The original loan maturity was the end of December 2025 which has been extended to 31 December 27.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 8 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GARDNER, Andrew Ronald | Director | 2017-07-04 | Jan 1967 | British |
| MACANGUS, Ewan Neil | Director | 2021-08-05 | Sep 1971 | British |
| MOUND, Christopher Garrick | Director | 2019-03-06 | Apr 1982 | British |
| RAYMOND, Gareth Alan | Director | 2020-11-11 | Aug 1970 | British |
Show 8 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ALI, Yasin Stanley, Mr. | Secretary | 2017-03-08 | 2021-11-30 |
| COLLINGS, Stuart Michael | Director | 2018-03-28 | 2020-11-11 |
| GINNS, Jonathan Frank, Mr. | Director | 2017-03-08 | 2017-07-04 |
| HEPBURN, Gerard Stephen | Director | 2017-07-04 | 2019-03-06 |
| LEASK, Graeme Wallace | Director | 2017-03-08 | 2017-07-04 |
| MCNALLY, John Paul | Director | 2017-07-04 | 2018-09-05 |
| MILNE, Gordon David | Director | 2017-07-04 | 2021-08-05 |
| SMEETON, Debra | Director | 2017-03-08 | 2017-07-04 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ineos Industries Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-06-15 | Active |
| Ineos Uk E&P Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-07-17 | Ceased 2020-06-15 |
| Ineos Industries Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-08-17 | Ceased 2018-07-17 |
| Sir James Arthur Ratcliffe | Individual | Shares 50–75%, Voting 50–75%, Appoints directors | 2017-03-08 | Ceased 2017-08-17 |
| Ineos Holdings Ag | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-03-08 | Ceased 2017-03-08 |
Filing timeline
Last 20 of 165 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-01 | AA | accounts | Accounts with accounts type full | |
| 2025-02-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-06 | AA | accounts | Accounts with accounts type full | |
| 2024-03-08 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-10-02 | AA | accounts | Accounts with accounts type full | |
| 2023-02-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-10-28 | CH01 | officers | Change person director company with change date | |
| 2022-09-21 | AA | accounts | Accounts with accounts type full | |
| 2022-03-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-15 | TM02 | officers | Termination secretary company with name termination date | |
| 2021-09-27 | AA | accounts | Accounts with accounts type full | |
| 2021-08-16 | TM01 | officers | Termination director company with name termination date | |
| 2021-08-16 | AP01 | officers | Appoint person director company with name date | |
| 2021-07-30 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-07-30 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-07-30 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-03-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2020-12-01 | TM01 | officers | Termination director company with name termination date | |
| 2020-12-01 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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.