SALTCO LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-07-16 (in 2mo)
Last made up 2025-07-02
Watchouts
None on the register
Cash
£22M
Latest balance sheet
Net assets
£12M
Equity attributable
Employees
436
Average over period
Profit before tax
-£37M
Period ending 2024-12-31
Net assets
2-year trend · vs Telecommunications median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2024-03-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £4,291,412 | £11,557,119 | |
| Operating profit | -£16,079,185 | -£17,445,392 | |
| Profit before tax | -£34,365,709 | -£37,487,488 | |
| Net profit | -£34,401,946 | -£37,510,363 | |
| Cash | £28,628,599 | £21,515,159 | |
| Total assets less current liabilities | £162,149,639 | £226,482,827 | |
| Net assets | £19,493,239 | £11,981,196 | |
| Equity | £19,493,239 | £11,981,196 | |
| Average employees | 321 | 436 | |
| Wages | £11,413,304 | £13,249,195 | |
| Directors' remuneration | £1,113,336 | £702,689 |
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
FY2024 → FY2024 · period ending 2024-12-31 vs 2024-03-31
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -374.7% | -150.9% | |
| Net margin | -801.6% | -324.6% | |
| Return on capital employed | -9.9% | -7.7% | |
| Current ratio | 3.47x | 2.74x | |
| Interest cover | -1.07x | -0.87x |
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
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- RSM UK Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Parent support has been provided, hence the company's directors have continued to adopt the going concern basis.”
Group structure
- SALTCO LIMITED · parent
- Brsk ISP Limited 100%
- Brsk SA (Pty) Limited 100%
- BRSK Limited 100%
Significant events
- “2024 was a transformative year for the Group, marked by operational expansion, financial strengthening, and a significant strategic merger.”
- “Secured £75 million in committed Loan Facility funding, complementing the £150 million facility obtained in the prior financial period.”
- “Merged with Substantial Group, creating one of the UK's largest and most capital-efficient alternative networks, with a combined footprint of 2.2 million Premises Passed (2) and a target of nearly 3 million by end-2025.”
- “In May 2025, Substantial Group raised a further £160 million in junior debt from two new investors, I Squared Capital and Palistar Capital.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HORNE, Renier Theuns Wynand | Director | 2022-07-12 | Jul 1987 | British |
| KOCK, Johannes Hermanus Michiel | Director | 2022-07-12 | Apr 1985 | South African |
| PARKER, Andrew Holden | Director | 2022-07-12 | Dec 1989 | South African |
| PRETORIUS, Johan Christiaan Rudolph | Director | 2022-07-12 | Jan 1976 | South African |
| WADSWORTH, Wil Imran | Director | 2024-08-16 | Feb 1989 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CHELOT, Jeremy Jules Robert | Director | 2024-08-16 | 2025-03-31 |
| GLENDINNING, Steven Edward | Director | 2024-10-15 | 2025-10-31 |
| GLENDINNING, Steven Edward | Director | 2022-07-12 | 2024-10-15 |
| IOVINO, Giorgio | Director | 2022-07-12 | 2026-04-15 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Saltco Ii Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-11-23 | Active |
| Steven Edward Glendinning | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-07-12 | Ceased 2022-08-15 |
Filing timeline
Last 20 of 71 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-03-21 RESOLUTIONS Resolution
- 2025-11-21 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-22 | TM01 | officers | Termination director company with name termination date | |
| 2026-04-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-04-09 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-25 | SH01 | capital | Capital allotment shares | |
| 2026-03-21 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2026-03-21 | SH20 | capital | Legacy | |
| 2026-03-21 | CAP-SS | insolvency | Legacy | |
| 2026-03-21 | RESOLUTIONS | resolution | Resolution | |
| 2026-02-23 | SH01 | capital | Capital allotment shares | |
| 2026-02-07 | SH01 | capital | Capital allotment shares | |
| 2025-11-28 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-11-21 | SH20 | capital | Legacy | |
| 2025-11-21 | CAP-SS | insolvency | Legacy | |
| 2025-11-21 | RESOLUTIONS | resolution | Resolution | |
| 2025-11-14 | SH01 | capital | Capital allotment shares | |
| 2025-11-03 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-24 | SH01 | capital | Capital allotment shares | |
| 2025-10-24 | RP01SH01 | miscellaneous | Legacy | |
| 2025-09-22 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 10
- Officers appointed
- 0
- Officers resigned
- 2
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.