T G TUNNELLING (HOLDINGS) LIMITED
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Next accounts due
2026-07-31 (in 2mo)
Last filed for 2024-10-31
Confirmation statement due
2026-06-06 (in 1mo)
Last made up 2025-05-23
Watchouts
Cash
£7M
+40.4% highest in 3 filed years
Net assets
£17M
-17.7% vs 2023
Employees
746
+52.9% highest in 4 filed years
Profit before tax
-£2M
-152.2% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
2 PSCs ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
5-year trend · vs Industrials median
Accounts
5-year trend · latest reflected 2024-10-31
| Metric | Trend | 2020-10-31 | 2021-10-31 | 2022-10-31 | 2023-10-31 | 2024-10-31 |
|---|---|---|---|---|---|---|
| Turnover | — | — | — | £92,973,447 | £111,225,917 | |
| Operating profit | — | — | — | £4,445,771 | -£2,465,180 | |
| Profit before tax | — | — | — | £4,516,695 | -£2,359,753 | |
| Net profit | — | — | £748,150 | £3,412,269 | -£3,385,052 | |
| Cash | £0 | — | — | £5,271,600 | £7,401,990 | |
| Total assets less current liabilities | — | — | — | £23,556,756 | £22,240,042 | |
| Net assets | — | — | — | £20,595,513 | £16,946,686 | |
| Equity | — | — | — | £20,595,513 | £16,946,686 | |
| Average employees | — | 0 | 0 | 488 | 746 | |
| Wages | — | £0 | £0 | £71,417,296 | £83,283,215 | |
| Directors' remuneration | — | — | — | — | — |
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 2024-10-31 vs 2023-10-31
-
Turnover
+19.6%
£92,973,447 £111,225,917
-
Cash
+40.4%
£5,271,600 £7,401,990
highest in 3 filed years
-
Net assets
-17.7%
£20,595,513 £16,946,686
-
Employees
+52.9%
488 746
highest in 4 filed years
-
Operating profit
-155.4%
£4,445,771 -£2,465,180
-
Profit before tax
-152.2%
£4,516,695 -£2,359,753
-
Wages
+16.6%
£71,417,296 £83,283,215
highest in 4 filed years
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 | 2020-10-31 | 2021-10-31 | 2022-10-31 | 2023-10-31 | 2024-10-31 |
|---|---|---|---|---|---|---|
| Operating margin | — | — | — | 4.8% | -2.2% | |
| Net margin | — | — | — | 3.7% | -3.0% | |
| Return on capital employed | — | — | — | 18.9% | -11.1% | |
| Gearing (liabilities / total assets) | — | — | — | 34.8% | 41.3% | |
| Current ratio | — | — | — | 3.91x | 4.34x | |
| Interest cover | — | — | — | — | -9130.30x |
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
- Consolidated group
- Auditor
- SCC Chartered Accountants Ltd
- 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 group's and parent 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.”
Group structure
- T G TUNNELLING (HOLDINGS) LIMITED · parent
- T.G. Tunnelling Limited 100%
- Carnvalley Holdings Limited 100%
- Carnvalley Investments Limited 100%
Significant events
- “Apart from developments in the lodging allowances claim which is disclosed in note 17, there have been no significant post balance sheet events.”
- “The Group has recognised a provision in respect of historical employee lodging entitlements. The amount represents management's estimate of the obligation as at the reporting date and remains subject to ongoing review as further information becomes available. At 31 October 2024, the provision amounted to £5,293,356 (2023: £2,961,243).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GALLAGHER, Norah | Secretary | 2018-03-09 | — | — |
| GALLAGHER, Norah | Director | 2018-03-09 | Oct 1947 | Irish |
| GALLAGHER, Thomas | Director | 2021-05-04 | Jul 1980 | Irish |
| GALLAGHER, Thomas | Director | 2018-03-09 | May 1950 | Irish |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Thomas Gallagher | Individual | Shares 25–50%, Voting 25–50% | 2021-05-04 | Active |
| Mrs Norah Patricia Gallagher | Individual | Shares 25–50%, Voting 25–50% | 2018-03-09 | Ceased 2025-11-20 |
| Mr Thomas Gallagher | Individual | Shares 25–50%, Voting 25–50% | 2018-03-09 | Ceased 2025-11-20 |
Filing timeline
Last 20 of 31 total filings
Material constitutional events — rename, articles re-file, resolution
- 2021-05-29 MA Memorandum articles
- 2021-05-29 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-11-20 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2025-11-20 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-11-20 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-10-31 | AA | accounts | Accounts with accounts type group | |
| 2025-06-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-31 | AA | accounts | Accounts with accounts type group | |
| 2024-05-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-31 | AA | accounts | Accounts with accounts type group | |
| 2023-06-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-01 | AA | accounts | Accounts with accounts type group | |
| 2022-06-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-11-02 | AA | accounts | Accounts with accounts type group | |
| 2021-07-15 | AD01 | address | Change registered office address company with date old address new address | |
| 2021-05-29 | MA | incorporation | Memorandum articles | |
| 2021-05-29 | SH08 | capital | Capital name of class of shares | |
| 2021-05-29 | RESOLUTIONS | resolution | Resolution | |
| 2021-05-26 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-05-25 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2021-05-25 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2021-05-13 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- 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.