CORRELA LIMITED
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Cash
£6.1m
-57.9% lowest in 3 filed years
Net assets
£11m
-28.9% vs 2024
Employees
361
+3.7% vs 2024
Profit before tax
£11m
+31.3% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Confirmation statement overdue
Due 2026-10-05.
-
5 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
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 | £70,513,000 | £69,573,000 | £67,767,000 | -2.6% | |
| Operating profit | £4,406,000 | £7,887,000 | £10,489,000 | +33% | |
| Profit before tax | £1,705,000 | £8,098,000 | £10,635,000 | +31.3% | |
| Net profit | £1,820,000 | £8,129,000 | £8,477,000 | +4.3% | |
| Cash | £9,207,000 | £14,441,000 | £6,083,000 | -57.9% | |
| Total assets less current liabilities | £10,623,000 | £16,581,000 | £11,770,000 | -29% | |
| Net assets | £9,890,000 | £16,000,000 | £11,377,000 | -28.9% | |
| Equity | £9,890,000 | £16,000,000 | £11,377,000 | -28.9% | |
| Average employees | 388 | 348 | 361 | +3.7% | |
| Wages | £20,437,000 | £20,810,000 | £22,931,000 | +10.2% | |
| Directors' remuneration | £1,041,000 | £1,437,000 | £2,185,000 | +52.1% | |
| Directors' pension contributions | £0 | £0 | £20,000 | — | |
| Highest paid director | £453,000 | £441,000 | £71,000 | -83.9% |
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 | 6.2% | 11.3% | 15.5% | |
| Net margin | 2.6% | 11.7% | 12.5% | |
| Return on capital employed | 41.5% | 47.6% | 89.1% | |
| Gearing (liabilities / total assets) | 64.8% | 49.3% | 52.8% | |
| Current ratio | 1.48x | 1.96x | 1.79x |
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.
Name history
Renamed 1 time since incorporation
- CORRELA LIMITED 2021-01-29 → present
- XOSERVE SUBSIDIARY A LTD 2020-12-04 → 2021-01-29
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Taking into account the above factors, the Directors have considered the financial position of the Company and cash flow forecasts... and have concluded that the Company will be able to meet its liabilities as they fall due within the going concern review period.”
Group structure
- CORRELA LIMITED · parent
- Cloud KB Limited 100%
- Meter Asset Tracking Services Limited 100%
- Climanet Limited 100%
Significant events
- “During the year, the wider Group underwent a change in ownership, whereby Project Mercury Topco Limited was acquired by Project Corvalis Topco Limited(including the subsidiaries, referred to as 'Group').”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 10 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CHANDRAPPA GOWDA BIPIN, Chandra, Dr | Director | 2026-09-03 | Apr 1980 | Indian |
| DWARKANATH, Vijay | Director | 2026-09-03 | Mar 1970 | British |
| SHARMA, Ankit | Director | 2026-09-03 | Aug 1982 | British |
Show 10 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| PALMER, Victoria Margaret | Secretary | 2021-03-01 | 2021-04-30 |
| BOWEN, David Randall John | Director | 2022-05-25 | 2023-10-20 |
| FOSTER, Lee Robert | Director | 2021-03-31 | 2023-03-31 |
| JESSUP, Alexander Robert | Director | 2022-10-17 | 2026-09-03 |
| JONES, Sian Julia | Director | 2020-12-04 | 2026-09-03 |
| NAYLOR, Mark Mckenzie | Director | 2022-01-25 | 2022-10-17 |
| SIMPSON, Sandra Louise | Director | 2021-03-31 | 2026-09-03 |
| SPOTTISWOODE, Clare Mary Joan | Director | 2020-12-04 | 2021-03-31 |
| SZABO, Andrew Frank | Director | 2021-03-31 | 2026-09-03 |
| TROMANS, Sarah Barbara | Director | 2023-11-03 | 2026-09-03 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Project Mercury Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-03-31 | Active |
| Xoserve Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-12-04 | Ceased 2021-03-31 |
Filing timeline
Last 20 of 53 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-29 | AP01 | officers | Appoint person director company with name date | |
| 2026-09-29 | AP01 | officers | Appoint person director company with name date | |
| 2026-09-29 | TM01 | officers | Termination director company with name termination date | |
| 2026-09-29 | AP01 | officers | Appoint person director company with name date | |
| 2026-09-29 | TM01 | officers | Termination director company with name termination date | |
| 2026-09-29 | TM01 | officers | Termination director company with name termination date | |
| 2026-09-29 | TM01 | officers | Termination director company with name termination date | |
| 2026-09-29 | TM01 | officers | Termination director company with name termination date | |
| 2026-09-15 | AA | accounts | Accounts with accounts type full | |
| 2026-09-01 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-08-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-30 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-11-28 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-11-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-11-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-11-27 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-11-24 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-10-01 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-18 | AA | accounts | Accounts with accounts type full | |
| 2025-06-18 | AD03 | address | Move registers to sail company with new address |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 18
- Capital events
- 0
- Officers appointed
- 3
- Officers resigned
- 5
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.