CRESCONET LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-06-12 (in 1mo)
Last made up 2025-05-29
Watchouts
None on the register
Cash
£2M
USD 2,824,000
-62.8% vs 2023
Net assets
£18M
USD 23,585,000
-9.8% vs 2023
Employees
74
-7.5% vs 2023
Profit before tax
-£3M
USD -3,395,000
+52.5% vs 2023
Net assets
3-year trend · vs Technology median
Accounts
3-year trend · latest reflected 2024-12-31
| Metric | Trend | 2021-06-24 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Turnover | — | £33,641,325 | £29,825,073 | |
| Operating profit | — | -£5,309,860 | -£2,453,465 | |
| Profit before tax | — | -£5,340,510 | -£2,537,938 | |
| Net profit | — | -£3,406,593 | -£2,300,217 | |
| Cash | £1,000 | £5,671,675 | £2,111,086 | |
| Total assets less current liabilities | — | £19,757,046 | £19,302,534 | |
| Net assets | £1,000 | £19,541,003 | £17,631,008 | |
| Equity | £1,000 | £19,541,003 | £17,631,008 | |
| Average employees | — | 80 | 74 | |
| Wages | — | £11,572,101 | £10,318,457 | |
| Directors' remuneration | — | £474,695 | £493,384 |
Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — 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
-11.3%
£33,641,325 £29,825,073
-
Cash
-62.8%
£5,671,675 £2,111,086
-
Net assets
-9.8%
£19,541,003 £17,631,008
-
Employees
-7.5%
80 74
-
Operating profit
+53.8%
-£5,309,860 -£2,453,465
-
Profit before tax
+52.5%
-£5,340,510 -£2,537,938
-
Wages
-10.8%
£11,572,101 £10,318,457
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 | 2021-06-24 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|
| Operating margin | — | -15.8% | -8.2% | |
| Net margin | — | -10.1% | -7.7% | |
| Return on capital employed | — | -26.9% | -12.7% | |
| Gearing (liabilities / total assets) | — | 37.6% | 35.0% | |
| Current ratio | — | 1.00x | 0.92x | |
| Interest cover | — | -173.24x | -29.04x |
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
- Ecovis Wingrave Yeats LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis. Forecast cash flows of the Group approved by management show positive cash flows into the future. The Directors have, at the time of approving the financial statements, a reasonable expectation that the Group has adequate resources to continue in operational existence for the period of at least 12 months. Management have undertaken an assessment and forecasted cashflows, which contemplates the continuity of normal business activities and the realisation of assets and discharge of liabilities in the normal course of business, and have concluded that the Group can pay its debt as and when they fall due.”
Group structure
- CRESCONET LIMITED · parent
- Aetheros Inc. 100%
- AOS Networks I LLC 100%
- Aetheros Mex, S. de R.L.de C.V 100%
- AOS Networks II LLC 100%
- CrescoNet LLC 100%
- Smart Earth Technologies, LLC 100%
- CrescoNet (UK) Ltd 100%
- CrescoNet (IRE) Ltd 100%
- AcquisCo Pty Ltd 100%
- GreenSync Pty Ltd 100%
- CrescoNet (Aus) Pty Ltd 100%
- CrescoNet (NZ) Ltd 100%
Significant events
- “On December 16, 2024, the United States Bankruptcy Court for the District of Delaware approved the Order and Final Decree closing the Chapter 11 (Subchapter V) case of Smart Earth Technologies, LLC ("SET"), which had originally filed-along with one affiliated debtor-voluntary petitions for relief on November 14, 2023.”
- “On 23 April 2025, the second tranche of $1.00 million was drawn from the $3.00 million secured promissory note issued by Aetheros Inc. established in November 2024.”
- “On 13 June 2025 and 19 December 2025, CrescoNet Limited raised a total of $1.70 million in debt funding from existing shareholders and management.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| VISTRA COSEC LIMITED | Corporate Secretary | 2021-06-14 | — | — |
| BLANKS, Cameron Robert | Director | 2021-06-14 | Aug 1970 | Australian |
| BROWNE, Joseph Anthony | Director | 2021-06-14 | Mar 1961 | Australian,Irish |
| CLARK, Adrian Colin | Director | 2021-06-14 | Nov 1979 | Australian |
| MCCULLAGH, Paul James | Director | 2022-04-01 | Jan 1952 | Irish |
| SAMMUT, Nicholas Johnny | Director | 2022-04-01 | Jun 1988 | American |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MCCULLAGH, Paul James | Director | 2021-06-14 | 2022-04-01 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 42 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-29 | AA | accounts | Accounts with accounts type group | |
| 2026-04-24 | CH04 | officers | Change corporate secretary company with change date | |
| 2025-11-19 | SH01 | capital | Capital allotment shares | |
| 2025-05-29 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-03-31 | AA | accounts | Accounts with accounts type group | |
| 2024-11-14 | SH01 | capital | Capital allotment shares | |
| 2024-10-14 | AA | accounts | Accounts with accounts type group | |
| 2024-10-02 | CH01 | officers | Change person director company with change date | |
| 2024-09-11 | SH01 | capital | Capital allotment shares | |
| 2024-05-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-04-19 | SH01 | capital | Capital allotment shares | |
| 2024-04-15 | CH01 | officers | Change person director company with change date | |
| 2024-04-15 | CH01 | officers | Change person director company with change date | |
| 2024-04-15 | CH01 | officers | Change person director company with change date | |
| 2024-04-15 | CH01 | officers | Change person director company with change date | |
| 2024-04-15 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-11-14 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-11-14 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-05-29 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-03-02 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 3
- 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.