HEROES TECHNOLOGY LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-05-06 (in 1y)
Last made up 2026-04-22
Watchouts
Cash
£4M
-10.5% lowest in 3 filed years
Net assets
-£30M
-93.7% lowest in 3 filed years
Employees
102
-15% vs 2023
Profit before tax
-£21M
+47.1% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
We draw attention to note 2 to the financial statements, which indicates that the Group's senior debt facility is contractually due for repayment in June 2027. The Group does not currently have sufficient cash resources to settle the loan in full at the repayment date, and at the date of approval of these financial statements, no alternative committed refinancing arrangements have been secured.
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · latest reflected 2024-12-31
| Metric | Trend | 2021-05-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Turnover | — | £78,635,000 | £98,473,000 | |
| Operating profit | — | -£34,902,000 | -£11,537,000 | |
| Profit before tax | — | -£39,498,000 | -£20,900,000 | |
| Net profit | — | -£33,118,000 | -£19,337,000 | |
| Cash | £9,547,721 | £4,774,000 | £4,273,000 | |
| Total assets less current liabilities | £16,240,142 | -£9,138,000 | £47,335,000 | |
| Net assets | £7,271,954 | -£15,651,000 | -£30,321,000 | |
| Equity | £7,271,954 | -£15,651,000 | -£30,321,000 | |
| Average employees | 16 | 120 | 102 | |
| Wages | — | £7,906,000 | £8,792,000 | |
| Directors' remuneration | — | £483,000 | £530,000 |
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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+25.2%
£78,635,000 £98,473,000
-
Cash
-10.5%
£4,774,000 £4,273,000
lowest in 3 filed years
-
Net assets
-93.7%
-£15,651,000 -£30,321,000
lowest in 3 filed years
-
Employees
-15%
120 102
-
Operating profit
+66.9%
-£34,902,000 -£11,537,000
-
Profit before tax
+47.1%
-£39,498,000 -£20,900,000
-
Wages
+11.2%
£7,906,000 £8,792,000
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 | 2021-05-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Operating margin | — | -44.4% | -11.7% | |
| Net margin | — | -42.1% | -19.6% | |
| Return on capital employed | — | 381.9% | -24.4% | |
| Gearing (liabilities / total assets) | — | 122.2% | 153.3% | |
| Current ratio | — | 0.34x | 2.71x | |
| Interest cover | — | -4.16x | -1.23x |
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
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“We draw attention to note 2 to the financial statements, which indicates that the Group's senior debt facility is contractually due for repayment in June 2027. The Group does not currently have sufficient cash resources to settle the loan in full at the repayment date, and at the date of approval of these financial statements, no alternative committed refinancing arrangements have been secured.”
Group structure
- HEROES TECHNOLOGY LTD · parent
- Onco Group Limited 100%
- KG Physio Ltd 100%
- Davaon Limited 100%
- Boba Inc. 100%
- Heroes Iberia SLU 100%
- Heroes Technology (US) LLC 100%
- Heroes Growth GmbH 100%
- Heroes Retail Ltd 100%
- Tutti Frutti Direct Holdings Ltd 100%
- Tutti Frutti Direct Limited 100%
- Tutti Bambini (Xiamen) Ltd 100%
Significant events
- “On 3 July 2024, the Company underwent an organisational restructuring by which the entire share capital of the Company was acquired by a newly formed holding company (HTL Holdco Limited; the "Holding Company") for a nominal consideration.”
- “As part of the restructuring, the Group successfully refinanced its senior debt facility ($73.5m as at June 2024), extending its maturity to December 2026.”
- “On 13 February 2025, the Group completed the acquisition of the iL Tutto business in Australia.”
- “In March 2025, the Group entered into a revenue-based financing arrangement with Shopify in the amount of AUD 2.9m.”
- “Subsequent to the reporting date, the Group secured additional short-term funding of approximately $3m to support working capital requirements.”
- “Subsequent to the reporting date, developments relating to US tariff regulations may result in a potential reimbursement of previously incurred tariff charges.”
- “Subsequent to the reporting date, the Group completed the strike-off of Tutti Frutti Direct Holdings Ltd and started the strike off of Davaon Limited as part of ongoing legal entity simplification.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 11 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KUFRIN, Brandon Matthew | Director | 2024-07-03 | Sep 1981 | British |
| MILLER, Duncan Scott | Director | 2026-02-04 | Aug 1964 | British |
Show 11 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ZUCKER, Alastair James | Secretary | 2021-04-14 | 2023-11-16 |
| BRUNI, Alessio | Director | 2020-05-26 | 2024-07-03 |
| BRUNI, Giancarlo | Director | 2023-07-14 | 2024-07-03 |
| BRUNI, Riccardo | Director | 2020-05-26 | 2024-07-03 |
| CIRILLO, Riccardo | Director | 2023-07-14 | 2024-07-03 |
| GEIST III, William Carroll | Director | 2023-04-18 | 2024-07-03 |
| LIBBY, William | Director | 2022-02-11 | 2023-04-18 |
| MAIFREDI, Cesare | Director | 2020-11-03 | 2024-07-03 |
| PATEL, Karan Shiv | Director | 2020-11-03 | 2024-07-03 |
| PIKE, Nicholas John | Director | 2024-02-08 | 2024-07-03 |
| SHARMA-BURFORD, Neil Kamal | Director | 2025-11-28 | 2026-02-05 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Htl Holdco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-07-03 | Active |
| Mr. Alessio Bruni | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2020-05-26 | Ceased 2020-10-31 |
| Mr Riccardo Bruni | Individual | Shares 25–50%, Voting 25–50%, Appoints directors | 2020-05-26 | Ceased 2020-10-31 |
Filing timeline
Last 20 of 76 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-11-11 RESOLUTIONS Resolution
- 2024-11-11 MA Memorandum articles
- 2024-11-11 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-04 | AA | accounts | Accounts with accounts type group | |
| 2026-05-01 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-02-12 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-04 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-11 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-23 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-07-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-05-07 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-04-08 | AA | accounts | Accounts with accounts type group | |
| 2024-11-11 | RESOLUTIONS | resolution | Resolution | |
| 2024-11-11 | MA | incorporation | Memorandum articles | |
| 2024-11-11 | RESOLUTIONS | resolution | Resolution | |
| 2024-11-04 | SH08 | capital | Capital name of class of shares | |
| 2024-11-03 | SH10 | capital | Capital variation of rights attached to shares | |
| 2024-07-10 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-07-10 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2024-07-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-09 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 2
- Officers appointed
- 1
- Officers resigned
- 1
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.