TURNTIDE DRIVES LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-03-10 (in 10mo)
Last made up 2026-02-24
Watchouts
None on the register
Cash
£1M
+53.5% highest in 4 filed years
Net assets
-£27M
-23.2% lowest in 4 filed years
Employees
88
-9.3% lowest in 4 filed years
Profit before tax
-£7M
+20.4% highest in 3 filed years
Net assets
5-year trend · vs Consumer Discretionary median
Accounts
5-year trend · latest reflected 2024-12-31
| Metric | Trend | 2021-02-24 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|
| Turnover | — | — | — | £9,476,119 | £10,300,269 | |
| Operating profit | — | — | — | -£7,128,602 | -£4,812,886 | |
| Profit before tax | — | — | -£12,256,424 | -£8,346,259 | -£6,640,654 | |
| Net profit | — | — | -£11,535,987 | -£7,403,154 | -£5,104,938 | |
| Cash | — | £99,855 | £1,227,443 | £867,972 | £1,332,047 | |
| Total assets less current liabilities | — | -£3,070,213 | -£14,606,200 | -£21,797,551 | -£26,858,573 | |
| Net assets | — | — | -£14,606,200 | -£22,009,354 | -£27,114,292 | |
| Equity | — | -£3,070,213 | -£14,606,200 | -£22,009,354 | -£27,114,292 | |
| Average employees | — | 103 | 100 | 97 | 88 | |
| Wages | — | — | — | £5,635,638 | £5,732,964 | |
| Directors' remuneration | — | — | — | — | — |
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
+8.7%
£9,476,119 £10,300,269
-
Cash
+53.5%
£867,972 £1,332,047
highest in 4 filed years
-
Net assets
-23.2%
-£22,009,354 -£27,114,292
lowest in 3 filed years
-
Employees
-9.3%
97 88
lowest in 4 filed years
-
Operating profit
+32.5%
-£7,128,602 -£4,812,886
-
Profit before tax
+20.4%
-£8,346,259 -£6,640,654
highest in 3 filed years
-
Wages
+1.7%
£5,635,638 £5,732,964
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 | 2021-02-24 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|---|
| Operating margin | — | — | — | -75.2% | -46.7% | |
| Net margin | — | — | — | -78.1% | -49.6% | |
| Return on capital employed | — | — | — | 32.7% | 17.9% | |
| Current ratio | — | — | — | 0.19x | 0.19x | |
| Interest cover | — | — | — | -5.85x | -2.59x |
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
- TURNTIDE DRIVES LIMITED 2021-06-10 → present
- CSL 2 LIMITED 2021-02-25 → 2021-06-10
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Sumer Auditco Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on the going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, subject to the continued support of the UK Group headed by Turntide Transport Ltd, and ultimate parent company, Turntide Technologies Inc ("TT Inc").”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| COX, Mark | Director | 2022-10-28 | Nov 1977 | British |
| HORNYAK, Steven Mark, Mr. | Director | 2024-06-11 | Nov 1965 | American |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOYLE, Matthew | Director | 2021-02-25 | 2022-01-28 |
| KARIM, Michael Salim | Director | 2021-06-01 | 2024-08-30 |
| MORRIS, Ryan Jeffrey | Director | 2021-06-01 | 2023-10-08 |
| PENNISON, Christopher Roy | Director | 2021-10-19 | 2023-12-31 |
| SHAKOORI, Roya | Director | 2021-06-01 | 2022-10-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Collingwood Solutions Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-02-25 | Active |
Filing timeline
Last 20 of 32 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-01-07 MA Memorandum articles
- 2026-01-07 RESOLUTIONS Resolution
- 2025-03-31 RESOLUTIONS Resolution
- 2025-03-31 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-07 | MA | incorporation | Memorandum articles | |
| 2026-01-07 | RESOLUTIONS | resolution | Resolution | |
| 2025-12-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-23 | AA | accounts | Accounts with accounts type full | |
| 2025-03-31 | RESOLUTIONS | resolution | Resolution | |
| 2025-03-31 | MA | incorporation | Memorandum articles | |
| 2025-02-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-01-29 | AA | accounts | Accounts with accounts type full | |
| 2024-08-30 | TM01 | officers | Termination director company with name termination date | |
| 2024-08-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-06-14 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-02 | AA | accounts | Accounts with accounts type small | |
| 2024-02-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-02 | TM01 | officers | Termination director company with name termination date | |
| 2023-10-11 | TM01 | officers | Termination director company with name termination date | |
| 2023-05-19 | AA | accounts | Accounts with accounts type small | |
| 2023-02-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-02 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- 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.