PRIMER API LIMITED
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Cash
£11m
-38.9% lowest in 3 filed years
Net assets
-£8.2m
-402.3% lowest in 3 filed years
Employees
111
+24.7% highest in 4 filed years
Profit before tax
-£12m
+5.1% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
4-year trend · vs Technology median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2021-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | — | £2,860,051 | £6,483,262 | £14,018,836 | +116.2% | |
| Operating profit | — | -£15,368,283 | -£12,693,547 | -£9,279,639 | +26.9% | |
| Profit before tax | — | -£15,593,188 | -£13,119,774 | -£12,452,858 | +5.1% | |
| Net profit | — | -£12,082,562 | -£10,911,185 | -£11,348,812 | -4% | |
| Cash | — | £28,596,938 | £18,442,280 | £11,277,113 | -38.9% | |
| Total assets less current liabilities | — | £29,743,158 | £20,673,222 | £13,432,858 | -35% | |
| Net assets | — | £13,115,399 | £2,698,938 | -£8,159,219 | -402.3% | |
| Equity | — | £13,115,399 | £2,698,938 | -£8,159,219 | -402.3% | |
| Average employees | 61 | 85 | 89 | 111 | +24.7% | |
| Wages | — | £11,579,510 | £9,647,896 | £10,660,421 | +10.5% | |
| Directors' remuneration | — | £316,667 | £200,000 | £200,752 | +0.4% | |
| Directors' pension contributions | £NaN | £1,321 | £1,321 | £1,867 | +41.3% | |
| Highest paid director | £NaN | £316,667 | £201,321 | £202,619 | +0.6% |
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 | 2021-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|---|
| Operating margin | — | — | -195.8% | -66.2% | |
| Net margin | — | — | -168.3% | -81.0% | |
| Return on capital employed | — | -51.7% | -61.4% | -69.1% | |
| Gearing (liabilities / total assets) | — | 57.0% | 87.4% | 155.8% | |
| Current ratio | — | 38.95x | 30.97x | 12.05x | |
| Interest cover | — | -68.33x | -9.42x | -6.26x |
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. 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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Cooper Parry Group Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“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 or the 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
- PRIMER API LIMITED · parent
- Primer API SG Pte Ltd 100%
Significant events
- “Subsequent to the reporting date, the convertible loan notes converted into equity on 12 February 2026. Upon conversion, a total of 599,795 B2 Preferred shares were issued, resulting in a reduction in creditors falling due after more than one year and an increase in the company's equity of £21,592,077.”
- “The Parent company also completed a Series C equity fundraising round in May 2026. The Parent company issued preferred shares for total consideration of £53,349,335, which will be used to fund the continued growth and development of the business.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JUMEL, Pierre-Edouard | Secretary | 2022-12-16 | — | — |
| AKINBANJO, Paul Anthony | Director | 2019-12-09 | Jan 1986 | British |
| DE RYCKER, Sonali | Director | 2020-11-19 | Aug 1973 | British |
| LE ROUX, Gabriel Olivier | Director | 2019-12-09 | Nov 1989 | English |
| LUO, Roy | Director | 2021-10-11 | Mar 1989 | Canadian |
| MOFFAT, Robert Warriner | Director | 2020-03-27 | Jun 1978 | British |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Gabriel Olivier Le Roux | Individual | Shares 25–50%, Voting 25–50% | 2019-12-09 | Ceased 2020-11-19 |
| Mr Paul Anthony Akinbanjo | Individual | Shares 25–50%, Voting 25–50% | 2019-12-09 | Ceased 2020-11-19 |
Filing timeline
Last 20 of 75 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-06-03 MA Memorandum articles
- 2026-06-02 RESOLUTIONS Resolution
- 2026-02-21 MA Memorandum articles
- 2026-02-21 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-20 | AA | accounts | Accounts with accounts type group | |
| 2026-07-13 | AP01 | officers | Appoint person director company with name date | |
| 2026-06-03 | SH01 | capital | Capital allotment shares | |
| 2026-06-03 | MA | incorporation | Memorandum articles | |
| 2026-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-06-02 | RESOLUTIONS | resolution | Resolution | |
| 2026-05-19 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-21 | MA | incorporation | Memorandum articles | |
| 2026-02-21 | RESOLUTIONS | resolution | Resolution | |
| 2026-02-16 | SH01 | capital | Capital allotment shares | |
| 2025-12-22 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-22 | RP01AP01 | officers | Replacement filing of director appointment with name | |
| 2025-12-16 | CH01 | officers | Change person director company with change date | |
| 2025-12-16 | CH01 | officers | Change person director company with change date | |
| 2025-12-02 | CH01 | officers | Change person director company with change date | |
| 2025-10-04 | AA | accounts | Accounts with accounts type full | |
| 2025-05-23 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-12-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-20 | AA | accounts | Accounts with accounts type full | |
| 2024-01-03 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 16
- Capital events
- 2
- 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.