UTS GROUP HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  For the year ended 31 December 2024, the group returned an operating loss of 5.6m, which includes other non-operating non-cash adjustments including increased inventory provisions, and write downs ( 5.2m). The impairment of prior period investments and other provisions ( 19.8m) drove a net loss of 28.9m for the year. At the year end and after these adjustments, the net current assets were 1.3m. Since the year end, the group secured new funding support via equity capital and implemented a group-wide restructuring programme to reduce costs to operate profitably and consolidate operations to better serve the core customer base. At the date of approval, many of the restructuring steps have been successfully completed, with some actions ongoing. These actions were not finalised within the anticipated timeframe due to the scale and complexity of the group restructuring and competing operational priorities. ... At the reporting date, certain elements of the wider group restructuring are ongoing. The Directors note that these actions could not be concluded within the original anticipated timeframe due to the scale and complexity of the group-wide restructuring programme, competing operational priorities, and the need to ensure continuity of trade during the process.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  2 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

• Turnover

  +12.6%

  £77,287,765 → £87,053,442

• Cash

  +3.1%

  £1,140,437 → £1,176,274

• Net assets

  +127.5%

  -£11,221,578 → £3,087,478

  highest in 3 filed years

• Employees

  +13%

  292 → 330

  highest in 3 filed years

• Operating profit

  -349.3%

  £2,264,268 → -£5,644,625

• Profit before tax

  -156.1%

  -£11,287,978 → -£28,911,515

• Wages

  +24.3%

  £8,559,946 → £10,641,706

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

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.

1. UTS GROUP HOLDINGS LIMITED 2025-02-07 → present
2. TROY INDEPENDENT INVESTMENTS LIMITED 2021-09-14 → 2025-02-07

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Bishop Fleming Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“For the year ended 31 December 2024, the group returned an operating loss of 5.6m, which includes other non-operating non-cash adjustments including increased inventory provisions, and write downs ( 5.2m). The impairment of prior period investments and other provisions ( 19.8m) drove a net loss of 28.9m for the year. At the year end and after these adjustments, the net current assets were 1.3m. Since the year end, the group secured new funding support via equity capital and implemented a group-wide restructuring programme to reduce costs to operate profitably and consolidate operations to better serve the core customer base. At the date of approval, many of the restructuring steps have been successfully completed, with some actions ongoing. These actions were not finalised within the anticipated timeframe due to the scale and complexity of the group restructuring and competing operational priorities. ... At the reporting date, certain elements of the wider group restructuring are ongoing. The Directors note that these actions could not be concluded within the original anticipated timeframe due to the scale and complexity of the group-wide restructuring programme, competing operational priorities, and the need to ensure continuity of trade during the process.”

Group structure

1. UTS GROUP HOLDINGS LIMITED · parent
   1. D.H.S. Tool Supply Co. Limited 1%
   2. Bideford Tool Limited 1%
   3. Euro Grind Marketing Limited 1%
   4. South Western Tool Supplies Limited 1%
   5. Cook's of Bedford Limited 1%
   6. Bideford Tool (Devon) Limited 1%
   7. Kalem Limited 1%
   8. Howard Lee & Son Limited 1%
   9. Barnes JB Limited 1%
   10. ABT Machine Tools & Tooling Limited 1%
   11. Kelvin Powertools Limited 1%
   12. Drake Tooling and Abrasives Limited 1%
   13. Drake Tooling Holdings Limited 1%
   14. Toolshop Direct Limited 1%
   15. Mettex Fasteners Limited 1%
   16. Euro Grind Limited 1%
   17. United Tooling Solutions Limited 1%
   18. United Tooling Solutions II Limited 1%
   19. MOL Tools & Abrasives Limited (Incorporated in the UK) 1%
   20. Grahams Machinery Sales Limited 1%
   21. Nuts & Bolts Ltd 1%
   22. Fastfix Bristol Limited 1%
   23. E. A. Martin & Son Ltd 1%
   24. MOL Tools & Abrasives Limited (incorporated in Ireland) 1%
   25. Jaymac (Derby) Limited 1%
   26. Scott Direct Limited 1%
   27. Scott Direct (Peterhead) Limited 1%
   28. S.I.I.S. Limited 1%
   29. Seahawk Apparel Limited 1%

Significant events

• “In March 2024, United Tooling Solutions Group ("UTS") acquired Scott Direct Ltd and SIIS Ltd, both operating within Scotland across eight sites combined. These strategic additions to the Group further strengthened UTS' position in the Scottish region, geographically and with supply categories to market through the combination of the existing two group businesses already operating in the territory.”
• “UTS' parent company, Troy (UK) Limited entered trading difficulty in October 2024 which led to a major supply chain restriction to all its customers. UTS traded separately and at arm's length from Troy but procured 40% its supply chain via Troy, resulting in large scale customer fulfilment challenges, and a subsequent fall in revenue.”
• “As a result of these adjustments, the Group posted a loss before taxation of 28.9m.”
• “Since the year end, the group secured new funding support via equity capital and implemented a group-wide restructuring programme to reduce costs to operate profitably and consolidate operations to better serve the core customer base.”
• “On 7 February 2025, Troy (UK) Limited, a parent of the Company, entered administration.”
• “On 17 February 2025, a creditor of 25.6m owing by United Tooling Solutions Limited to UTS Group Holdings Limited, a group company, was agreed to be released in whole consideration for the allotment and issue of shares, with this debt converting to equity and improving the net assets of United Tooling Solutions Limited by 25.6m.”
• “On 26 November 2025, the ultimate controlling party became UTS (Atlas) Limited (Company number 16862045), of UTS Group, Unit 4, Westleigh Business Park, Winchester Avenue, Blaby, Leicester, LE8 4EZ, which is registered in England.”
• “On 30 January 2026, the Company completed the sale of its wholly owned subsidiaries, MOL Tools & Abrasives Limited and E.A. Martin Limited registered in the UK, and MOL Tools & Abrasives Limited registered in the Republic of Ireland. The disposals occurred after the year end and is therefore treated as a non adjusting event for the purposes of these financial statements.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

20

last 12 months

Capital events

1

last 24 months

Officers appointed

2

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.