EXCHANGER INDUSTRIES UK LIMITED
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Cash
£2.5m
-3.2% lowest in 3 filed years
Net assets
£11m
-15.1% lowest in 3 filed years
Employees
268
-2.9% vs 2024
Profit before tax
£376k
-83.8% lowest in 3 filed years
Net assets
3-year trend · vs Industrials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £47,070,729 | £39,530,623 | £39,799,807 | +0.7% | |
| Operating profit | £3,433,549 | £2,959,045 | £166,589 | -94.4% | |
| Profit before tax | £2,673,351 | £2,316,723 | £375,861 | -83.8% | |
| Net profit | £645,385 | — | £1,393,504 | — | |
| Cash | £3,163,384 | £2,634,692 | £2,549,729 | -3.2% | |
| Total assets less current liabilities | £13,984,448 | £19,830,990 | £11,474,331 | -42.1% | |
| Net assets | £11,970,146 | £12,411,195 | £10,539,832 | -15.1% | |
| Equity | £11,970,146 | £12,411,195 | £10,539,832 | -15.1% | |
| Average employees | 210 | 276 | 268 | -2.9% | |
| Wages | £5,744,067 | £6,616,617 | £6,206,607 | -6.2% | |
| Directors' remuneration | £1,209,078 | £2,120,844 | — | — |
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 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 7.3% | 7.5% | 0.4% | |
| Net margin | 1.4% | — | 3.5% | |
| Return on capital employed | 24.6% | 14.9% | 1.5% | |
| Gearing (liabilities / total assets) | 68.8% | 37.4% | — | |
| Current ratio | 0.97x | 1.44x | 0.99x | |
| Interest cover | 4.36x | 4.47x | 0.31x |
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
- Wilder Coe Ltd
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis. In assessing the appropriateness of this basis, the Directors have reviewed forecasts covering a period of at least 12 months from the date of approval of the financial statements and are satisfied that the Group and the Company will be able to meet their liabilities as they fall due.”
Group structure
- EXCHANGER INDUSTRIES UK LIMITED · parent
- Heatexchangerspares.com Limited 100%
- HRS Hevac Limited 100%
- HRS Heat Exchangers NZ Limited 100%
- HRS Heat Exchangers Limited 100%
- HRS International Limited 100%
- HRS Investments Limited 100%
- HRS Heat Exchangers, S.L.U. 100%
- HRS Heat Exchangers Sdn. Bhd. 100%
- HRS Heat Exchangers Pty Ltd 100%
- HRS Process Systems Ltd. 86%
- HRS Process Technology, Inc. 100%
- HRS Process Systems Ltd. 13.99%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| THOMAS, John | Director | 2020-11-20 | May 1970 | American |
| WILLIAMSON, David Simon | Director | 2023-04-19 | Oct 1957 | British |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| EL BAROUDI, Mark | Director | 2020-11-20 | 2025-02-17 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Exchanger Industries Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-11-20 | Ceased 2020-11-20 |
| Exchanger Industries Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2020-11-20 | Active |
Filing timeline
Last 20 of 28 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-11 | AA | accounts | Accounts with accounts type group | |
| 2026-08-14 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2026-08-14 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2026-03-24 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-03-24 | CH01 | officers | Change person director company with change date | |
| 2025-12-02 | AA | accounts | Accounts with accounts type group | |
| 2025-11-17 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-03-05 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-04 | AA | accounts | Accounts with accounts type full | |
| 2024-12-27 | AA01 | accounts | Change account reference date company previous shortened | |
| 2024-11-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-11-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-10-02 | AA | accounts | Accounts with accounts type group | |
| 2023-06-26 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-05-15 | AA | accounts | Accounts with accounts type full | |
| 2023-04-27 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-01-18 | SH01 | capital | Capital allotment shares | |
| 2023-01-18 | SH01 | capital | Capital allotment shares | |
| 2022-09-26 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- 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.