PULSE CLEAN ENERGY HOLDINGS LIMITED
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Cash
£7.9m
Latest balance sheet
Net assets
£196m
+26% highest in 3 filed years
Employees
2
0% vs 2024
Profit before tax
£12m
+148.1% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Confirmation statement overdue
Due 2026-08-10.
Net assets
3-year trend · vs Consumer Discretionary 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 | — | — | — | — | |
| Operating profit | -£31,000 | -£22,725,000 | £14,011,000 | +161.7% | |
| Profit before tax | -£2,230,000 | -£24,506,000 | £11,781,000 | +148.1% | |
| Net profit | -£1,803,000 | -£24,643,000 | £11,132,000 | +145.2% | |
| Cash | — | — | £7,877,000 | — | |
| Total assets less current liabilities | £98,877,000 | £155,212,000 | £195,565,000 | +26% | |
| Net assets | £98,877,000 | £155,211,000 | £195,565,000 | +26% | |
| Equity | £98,877,000 | £155,211,000 | £195,565,000 | +26% | |
| Average employees | — | 2 | 2 | 0% | |
| Wages | — | £1,338,000 | £996,000 | -25.6% | |
| Directors' remuneration | — | — | £799,000 | — |
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 |
|---|---|---|---|---|
| Return on capital employed | -0.0% | -14.6% | 7.2% | |
| Gearing (liabilities / total assets) | 19.0% | 14.7% | 29.4% | |
| Current ratio | 0.03x | 0.03x | 0.10x | |
| Interest cover | -0.01x | -12.76x | 6.28x |
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
- PULSE CLEAN ENERGY HOLDINGS LIMITED 2021-12-06 → present
- VALENCE UK BIDCO LTD 2021-07-28 → 2021-12-06
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Abridged
- Yes — abridged accounts (limited disclosure)
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Having considered the above, the Directors have determined that there are no material uncertainties relating to events or conditions that may cast significant doubt upon the Group's ability to continue as a going concern, and consider it appropriate to prepare the financial statements on the going concern basis of accounting.”
Group structure
- PULSE CLEAN ENERGY HOLDINGS LIMITED · parent
- Pulse Clean Energy Limited 100%
- Pulse Clean Energy Solutions Limited 100%
- Pulse Clean Energy UK Limited 100%
- Pulse Clean Energy SPV Bell Limited 100%
- Pulse Clean Energy SPV Cavendish Limited 100%
- Pulse Clean Energy SPV Rubin Limited 100%
- Pulse Clean Energy SPV Anning Limited 100%
- Pulse Clean Energy SPV Franklin Limited 100%
- Pulse Clean Energy SPV Watt Limited 100%
- Pulse Clean Energy SPV Anderson Limited 100%
- Pulse Clean Energy SPV Freehold Anderson Limited 100%
- Pulse Clean Energy SPV Johnson 1 Limited 100%
- Pulse Clean Energy SPV Johnson 2 Limited 100%
- Pulse Clean Energy SPV Johnson 3 Limited 100%
- Pulse Clean Energy Services Limited 100%
- Pulse Clean Energy Development Limited 100%
Significant events
- “The Group continued to manage its existing STOR contracts during the year, which concluded in March 2025.”
- “Equity injections increased share capital investment by £29.2 million, while shareholder loans and associated interest of £20.9 million were repaid during 2025.”
- “In Q3 2025, the existing £175 million external credit facility was refinanced with a new £220 million credit facility provided by a syndicate of lenders and maturing in July 2028.”
- “On 21 April 2026, Pulse Clean Energy SPV Franklin Limited, a subsidiary company of Pulse Clean Energy Holdings Limited, entered into a £52.5m (bilateral) Construction Bridge Facilities Agreement with a termination date of 31 May 2029.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KAY, Alison Barbara | Director | 2022-12-21 | May 1964 | British |
| SIMS, Polina | Director | 2021-07-28 | Mar 1978 | Canadian |
| WILLS, Trevor Alexander | Director | 2023-10-26 | Oct 1983 | British,Canadian |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FORMUZIEWICH, Timothy Gerald | Director | 2021-07-28 | 2022-07-19 |
| MASSARA, Paul Joseph | Director | 2022-07-19 | 2023-09-07 |
| MENDES, Matthew | Director | 2021-07-28 | 2022-12-21 |
| WILLS, Trevor | Director | 2021-07-28 | 2022-07-19 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Pulse Clean Energy Topco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-07-28 | Active |
Filing timeline
Last 20 of 47 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-13 | AA | accounts | Accounts with accounts type full | |
| 2026-04-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-01-05 | SH01 | capital | Capital allotment shares | |
| 2025-10-08 | AA | accounts | Accounts with accounts type full | |
| 2025-08-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-08-04 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-07-29 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-24 | SH01 | capital | Capital allotment shares | |
| 2024-12-17 | SH01 | capital | Capital allotment shares | |
| 2024-12-17 | SH01 | capital | Capital allotment shares | |
| 2024-07-29 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-06-19 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-05-17 | AA | accounts | Accounts with accounts type small | |
| 2024-05-15 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-11-02 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-11 | SH01 | capital | Capital allotment shares | |
| 2023-09-11 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-03 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 4
- 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.