MACFARLAN SMITH LIMITED
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Cash
£4.6M
-48.7% lowest in 3 filed years
Net assets
£71M
+5.2% vs 2024
Employees
333
+0.9% vs 2024
Profit before tax
-£5.3M
+51.5% highest in 3 filed years
Net assets
3-year trend · vs Health Care 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 | £104,872,000 | £77,852,000 | £72,496,000 | -6.9% | |
| Operating profit | -£88,435,000 | -£10,683,000 | -£4,884,000 | +54.3% | |
| Profit before tax | -£88,681,000 | -£10,912,000 | -£5,287,000 | +51.5% | |
| Net profit | -£88,993,000 | -£10,768,000 | -£5,328,000 | +50.5% | |
| Cash | £7,671,000 | £8,926,000 | £4,583,000 | -48.7% | |
| Total assets less current liabilities | — | £77,289,000 | £73,534,000 | -4.9% | |
| Net assets | £78,527,000 | £67,759,000 | £71,265,000 | +5.2% | |
| Equity | £78,527,000 | £67,759,000 | £71,265,000 | +5.2% | |
| Average employees | 360 | 330 | 333 | +0.9% | |
| Wages | £20,944,000 | £18,453,000 | £19,991,000 | +8.3% | |
| Directors' remuneration | £322,000 | £385,000 | £409,000 | +6.2% |
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 |
|---|---|---|---|---|
| Operating margin | -84.3% | -13.7% | -6.7% | |
| Net margin | -84.9% | -13.8% | -7.3% | |
| Return on capital employed | — | -13.8% | -6.6% | |
| Gearing (liabilities / total assets) | 26.4% | 27.7% | 16.9% | |
| Current ratio | 5.41x | — | — | |
| Interest cover | — | -46.65x | -12.12x |
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 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have assessed the Company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. Management has prepared detailed cash flow forecasts and considered a range of downside scenarios to evaluate the potential impact on liquidity.”
Group structure
- MACFARLAN SMITH LIMITED · parent
- Macfarlan Smith B.V. 100%
Significant events
- “A voluntary severance programme was initiated and agreed in 2025. Agreement was reached with 21 employees who will leave the business between December 2025 and April 2026. A provision of £1,475,000 relates to voluntary severance to be paid.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 45 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JAMES, Andrew David | Secretary | 2024-04-23 | — | — |
| GRANT, Craig Maclan, Dr | Director | 2020-10-13 | Mar 1970 | British |
| LASSONDE, Scott Gerard | Director | 2024-04-23 | Feb 1974 | American |
| RILEY, Michael Anthony | Director | 2023-05-09 | Nov 1976 | American |
Show 45 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BARLOW, Victoria | Secretary | 2019-12-03 | 2022-05-31 |
| BICKNELL, Simon Michael | Secretary | 1989-12-08 | 1990-08-10 |
| BRUCE-WATT, Linda | Secretary | 2020-04-16 | 2021-02-05 |
| FARRANT, Simon | Secretary | 2002-02-28 | 2020-03-31 |
| HYDE, Jonathan Laurence Patrick | Secretary | — | 1989-12-08 |
| MCNEILLAGE, James Kean | Secretary | 1995-05-03 | 2000-09-25 |
| OEHLER, Ross | Secretary | 2022-05-31 | 2023-11-30 |
| SOMERVILLE, Hugh | Secretary | 2000-09-25 | 2002-02-28 |
| THOM, Gordon | Secretary | 1990-08-10 | 1995-05-03 |
| BICKNELL, Simon Michael | Director | 1990-07-01 | 1990-08-04 |
| BLAKER, Graham Joseph, Dr | Director | — | 1990-08-10 |
| BONI, Debra Elenor | Director | 2000-06-01 | 2005-10-24 |
| BORDET, Antoine | Director | 2017-06-14 | 2017-10-05 |
| CAIRNS, Stewart | Director | 1996-02-02 | 1999-04-30 |
| COOK, James | Director | 1990-08-10 | 1999-06-18 |
| COOKE, Terrence Bernard | Director | 2018-04-12 | 2021-10-29 |
| COPLEY, Malcolm Norman | Director | 1990-08-10 | 1997-06-30 |
| DOOLEY, Michael Anthony | Director | 2000-06-01 | 2003-08-28 |
| FARRANT, Simon | Director | 2009-07-01 | 2020-03-31 |
| FOWLER, John Bailey | Director | 2011-10-03 | 2017-05-12 |
| GARNER, Nicholas Paul | Director | 2009-07-01 | 2011-10-03 |
| GREEN, Kenneth Malcolm | Director | 1997-03-10 | 2001-12-31 |
| HODGES, Garry Raymond | Director | 2012-11-19 | 2014-04-06 |
| HOUGHTON, Richard Charles | Director | 1998-04-01 | 2000-05-31 |
| HUNT, John Anthony | Director | — | 1990-08-10 |
| JAMIESON, Gordon | Director | 1996-03-22 | 1999-04-30 |
| JONES, Dennis Gareth | Director | 2014-07-01 | 2016-07-31 |
| KILBURN, Roger Michael | Director | 2008-02-04 | 2011-10-03 |
| MACLEOD, Robert James | Director | 2010-06-28 | 2014-07-01 |
| MACRAE, Alexander Morgan | Director | 2000-11-20 | 2001-10-31 |
| MERCER, David Snedden | Director | 1995-01-04 | 2007-11-30 |
| MILNE, Lindsay Anne | Director | 2020-12-01 | 2022-05-31 |
| MORGAN, David William | Director | 2002-01-31 | 2009-07-21 |
| OGDEN, Helen Isabella Grace | Director | 2011-10-03 | 2017-04-18 |
| OGDEN, Helen Isabella Grace | Director | 2000-06-01 | 2005-10-24 |
| PAYNE, David Martin | Director | 2021-10-28 | 2026-05-21 |
| PAYNE, David Martin | Director | 2018-04-12 | 2020-10-13 |
| PICKARD, Edward | Director | 1999-05-04 | 2000-11-20 |
| SHELDRICK, John Nicholas | Director | 2002-01-31 | 2009-09-07 |
| SMALLEY, Henry Marshall | Director | — | 1997-09-25 |
| SMITH, William Henry | Director | 2000-06-01 | 2005-10-24 |
| STAPEL, Nicolaas | Director | 2022-05-31 | 2023-05-03 |
| TASKER, Julian Charles Edward | Director | 2017-06-14 | 2018-10-12 |
| THOMPSON, Steven | Director | 2017-10-18 | 2018-03-29 |
| WESZTERGOM, Andrew Peter | Director | 2020-10-13 | 2024-03-25 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Veranova 2 Ltd. | Corporate entity | Shares 25–50%, Voting 25–50% | 2022-05-31 | Active |
| Veranova 1 Ltd. | Corporate entity | Shares 50–75%, Voting 50–75%, Appoints directors | 2022-05-31 | Active |
| Johnson Matthey Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-05-07 | Ceased 2022-05-31 |
| Meconic Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2019-05-07 |
Filing timeline
Last 20 of 236 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-23 | AA | accounts | Accounts with accounts type full | |
| 2026-05-22 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-01-09 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-12-19 | SH01 | capital | Capital allotment shares | |
| 2025-10-07 | AA | accounts | Accounts with accounts type full | |
| 2025-01-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-07 | AA | accounts | Accounts with accounts type full | |
| 2024-04-25 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-04-25 | AP01 | officers | Appoint person director company with name date | |
| 2024-04-08 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-05 | AA | accounts | Accounts with accounts type full | |
| 2024-01-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-05 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-05-17 | TM01 | officers | Termination director company with name termination date | |
| 2023-05-17 | AP01 | officers | Appoint person director company with name date | |
| 2023-04-04 | AA | accounts | Accounts with accounts type full | |
| 2023-03-30 | AUD | auditors | Auditors resignation company | |
| 2023-02-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-12-08 | AA01 | accounts | Change account reference date company current shortened |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 1
- Officers appointed
- 0
- Officers resigned
- 1
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.