SEAPEAK TELECOM LTD
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2027-03-19 (in 10mo)
Last made up 2026-03-05
Watchouts
None on the register
Cash
£2M
Latest balance sheet
Net assets
£3M
Equity attributable
Employees
49
Average over period
Profit before tax
£369K
Period ending 2025-03-31
Net assets
2-year trend · vs Telecommunications median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £49,283,000 | £41,050,000 | |
| Operating profit | -£252,000 | -£146,000 | |
| Profit before tax | -£224,000 | £369,000 | |
| Net profit | -£467,000 | £713,000 | |
| Cash | £1,571,000 | £2,114,000 | |
| Total assets less current liabilities | £3,326,000 | £3,264,000 | |
| Net assets | £2,659,000 | £2,784,000 | |
| Equity | £2,659,000 | £2,784,000 | |
| Average employees | 63 | 49 | |
| Wages | £3,799,000 | £3,003,000 | |
| Directors' remuneration | £113,000 | — |
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
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | -0.5% | -0.4% | |
| Net margin | -0.9% | 1.7% | |
| Return on capital employed | -7.6% | -4.5% | |
| Gearing (liabilities / total assets) | 72.6% | 67.7% | |
| Current ratio | 1.21x | 1.39x |
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
- Beavis Morgan Audit Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors confirm that they consider that the going concern basis remains appropriate.”
Group structure
- SEAPEAK TELECOM LTD · parent
- Wavecrest Networks Limited 100%
- Wavecrest Innovations Limited 100%
- Wavecrest Communications France SAS 100%
Significant events
- “FY24 saw a major reorganisation within the group in which the business was split into three subsidiaries of Seapeak Telecom Ltd. This change allowed greater emphasis to be placed on the different business streams and prepared the Planettalk business for an intended disposal, which was completed in FY25.”
- “Following a decision to buyout the minority shareholder of Wavecrest Networks Limited (hereafter, 'WNL') in FY25, a decision has been taken to reverse the split of the PaaS business into a separate subsidiary, and the business of Wavecrest Innovations Limited (hereafter, 'WIL') was transferred back to WNL on 1 April 2025.”
- “An impairment charge of £207k (2024 £325k) was recognised in the period.”
- “The group also completed the payment of its only long term debt on schedule.”
- “After the reporting period, the trade, assets and liabilities of Wavecrest Innovations Limited were transferred to Wavecrest Networks Limited, two subsidiaries of the group Wavecrest Innovations Limited has stopped trading following the transfer.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 2 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GRANT, Kevin | Director | 2019-03-06 | Aug 1977 | British |
| LOCKWOOD, Geoffrey Alexander Vincent | Director | 2019-03-06 | Apr 1964 | British |
Show 2 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CUTHBERTSON, Simon Mark | Director | 2020-03-10 | 2022-06-14 |
| RODRIGUES, Daniel Vasconcelos | Director | 2022-10-20 | 2024-01-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Kevin Grant | Individual | Significant influence | 2022-12-01 | Active |
| Seapeak Group Holdings Limited | Corporate entity | Significant influence | 2022-03-04 | Active |
| Mr Geoff Lockwood | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2019-03-06 | Ceased 2022-12-01 |
| Mr Kevin Grant | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2019-03-06 | Ceased 2022-03-04 |
Filing timeline
Last 20 of 38 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-01-13 MA Memorandum articles
- 2023-01-13 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-17 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-03-16 | SH01 | capital | Capital allotment shares | |
| 2026-01-08 | AA | accounts | Accounts with accounts type group | |
| 2025-12-04 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2025-04-15 | AA | accounts | Accounts with accounts type group | |
| 2025-03-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-15 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-01-23 | TM01 | officers | Termination director company with name termination date | |
| 2024-01-12 | AA | accounts | Accounts with accounts type group | |
| 2023-04-18 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2023-04-12 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2023-04-11 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-03-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-01-13 | MA | incorporation | Memorandum articles | |
| 2023-01-13 | RESOLUTIONS | resolution | Resolution | |
| 2022-12-20 | AA | accounts | Accounts with accounts type group | |
| 2022-12-13 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2022-12-13 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2022-10-20 | CH01 | officers | Change person director company with change date | |
| 2022-10-20 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 1
- 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.