SWEET PROJECT HOLDINGS LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

• Turnover

  +25%

  £107,474,976 → £134,311,526

• Cash

  -25.3%

  £36,254,338 → £27,068,319

• Net assets

  +42.6%

  £7,497,593 → £10,689,462

  highest in 4 filed years

• Employees

  +30.2%

  86 → 112

  highest in 4 filed years

• Operating profit

  -38.1%

  £5,801,362 → £3,590,274

• Profit before tax

  -17.1%

  £5,850,299 → £4,847,508

• Wages

  +56.9%

  £10,867,609 → £17,046,935

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

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.

1. SWEET PROJECT HOLDINGS LIMITED 2026-05-07 → present
2. SWEET PROJECT HOLDINGS LIMITED 2020-02-12 → 2026-05-07

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Sumer Auditco Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The director are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Group structure

1. SWEET PROJECT HOLDINGS LIMITED · parent
   1. G M Sweet Ltd
   2. Speare Developments Limited
   3. GMSL Investments Sl · Balearic Islands

Significant events

• “The year to 31 December 2024 saw a further increase in activity leading to turnover of £134.3m compared to £107.4m in the prior year.”
• “At the end of the current period, the Company recorded a profit for the year before taxation of £4.8m (2023: £5.8m).”
• “The increase in turnover can be mainly attributed to the company continually demonstrating its exceptional delivery capabilities on its secured projects and extending its portfolio of work in line with its client's ambitions and urgent requirements in both sectors of defence and data centres.”
• “Increased activity within the data centre market is reflective of continued growth and demand in the sector generally, as the requirement for data services and the utilisation of AI drives expansion.”
• “Defence related activity is also increasing as the various "repeat business" clients are now releasing restrained funding for long overdue projects now requiring urgent execution.”
• “The Company's financial position remains strong with net current assets of £10.03m at the reporting date. An increase of £3.1m from 31 December 2023.”
• “Recruitment of the right calibre of candidate and retention of same is key in a highly competitive labour market and will remain a challenge relative to the pace of growth.”
• “Stand out KPI's on the P&L side, apart from the companies' impressive boost in turnover includes a Gross Profit % of 6.5%, with an operating profit of 2.7%.”
• “Across the balance sheet, cash at bank fell from £36.2m in 2023 to £27.1m at the end of FY 2024.”
• “However, an increase in other receivables boosted the net working capital to £10m from the FY 2023 position of £7.2m.”
• “No dividends will be distributed for the year ended 31 December 2024.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.