MONTANARO EUROPEAN SMALLER COMPANIES TRUST PLC
Get an alert when MONTANARO EUROPEAN SMALLER COMPANIES TRUST PLC files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Cash
£5.1m
-65.6% vs 2025
Net assets
£208m
-28.5% lowest in 3 filed years
Employees
—
Average over period
Profit before tax
£7.3m
+296.5% first positive since 2025
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | — | — | — | — | |
| Operating profit | — | -£3,178,000 | £8,127,000 | +355.7% | |
| Profit before tax | £15,006,000 | -£3,701,000 | £7,271,000 | +296.5% | |
| Net profit | £14,630,000 | -£4,237,000 | £6,688,000 | +257.8% | |
| Cash | £242,000 | £14,816,000 | £5,104,000 | -65.6% | |
| Total assets less current liabilities | £321,193,000 | £299,838,000 | £208,411,000 | -30.5% | |
| Net assets | £312,720,000 | £291,508,000 | £208,411,000 | -28.5% | |
| Equity | £312,720,000 | £291,508,000 | £208,411,000 | -28.5% | |
| Average employees | — | — | — | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | £106,000 | £135,870 | £141,356 | +4% | |
| Highest paid director | — | £41,942 | £40,231 | -4.1% |
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 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|
| Return on capital employed | — | -1.1% | 3.9% | |
| Gearing (liabilities / total assets) | 3.1% | 6.9% | 7.6% | |
| Current ratio | 0.70x | 1.22x | 0.36x | |
| Interest cover | — | -6.08x | 9.49x |
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 4 times since incorporation
- MONTANARO EUROPEAN SMALLER COMPANIES TRUST PLC 2006-09-04 → present
- ISIS SMALLER COMPANIES TRUST PLC 2004-06-23 → 2006-09-04
- IVORY & SIME UK SMALLER COMPANIES TRUST PLC 1996-07-08 → 2004-06-23
- I & S UK SMALLER COMPANIES TRUST PLC 1992-01-13 → 1996-07-08
- FIRST CHARLOTTE ASSETS TRUST PUBLIC LIMITED COMPANY 1981-05-05 → 1992-01-13
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on their assessment, and in the context of the Company's business model, strategy and operational arrangements set out above, the Directors have a reasonable expectation that the Company will be able to continue in operation and meet its liabilities as they fall due over the three year period to July 2029.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 22 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JUNIPER PARTNERS LTD | Corporate Secretary | 2023-07-01 | — | — |
| NEILLY, Gordon Joseph | Director | 2020-09-21 | Jul 1960 | British |
| ROXBURGH, Caroline Anne | Director | 2017-11-08 | Apr 1959 | British |
| WILLIAMS, Hillary Clare | Director | 2024-09-06 | Apr 1966 | British |
Show 22 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HANNAY, Keith Patrick | Secretary | 1998-10-28 | 2001-09-06 |
| HAY SMITH, Gordon Robert | Secretary | 2001-09-06 | 2007-02-02 |
| HUMPHRIES, Gordon John | Secretary | 1993-05-12 | 1998-10-28 |
| PATERSON-BROWN, Ian John | Secretary | — | 1993-05-12 |
| BMO INVESTMENT BUSINESS LIMITED | Corporate Secretary | 2007-02-02 | 2019-03-31 |
| LINK COMPANY MATTERS LIMITED | Corporate Secretary | 2019-04-01 | 2023-06-30 |
| BALFOUR, Peter Edward Gerald | Director | — | 1992-01-10 |
| BERESFORD, Wilfred John | Director | 1992-01-10 | 1994-06-22 |
| CURLING, Richard Michael | Director | 2015-11-02 | 2025-12-31 |
| FAULCONER HEATHCOAT GRANT, Ian | Director | — | 1989-09-19 |
| GRAHAM, Robert Bruce Mclaren | Director | 2003-06-24 | 2018-08-29 |
| HAMMOND CHAMBERS, Robert Alexander | Director | 2004-06-22 | 2018-08-29 |
| HOOD, Neil, Professor | Director | 1990-12-13 | 1998-06-24 |
| INGLIS, Ian Brownlie | Director | 1992-01-10 | 2003-06-24 |
| IRVINE, Andrew Robertson | Director | 1992-01-10 | 2018-08-29 |
| JOHNSTON, Thomas Lothian, Dr | Director | — | 1992-01-10 |
| LAURENSON, James Tait | Director | — | 2005-09-30 |
| LUMSDEN, John | Director | 1998-07-24 | 2012-07-19 |
| MARTIN, Richard Macintyre | Director | 2006-02-01 | 2015-11-12 |
| NEWBERY, Richard Geoffrey | Director | — | 1992-01-10 |
| SOMERSET WEBB, Merryn Rosemary | Director | 2011-03-28 | 2020-12-31 |
| WALKER, Michael Giles Neish | Director | 1990-08-21 | 2004-06-22 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 330 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-09-25 RESOLUTIONS Resolution
- 2026-04-09 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-25 | AA | accounts | Accounts with accounts type full | |
| 2026-09-25 | RESOLUTIONS | resolution | Resolution | |
| 2026-09-23 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-09-11 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-09-09 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-08-11 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-07-30 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-07-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-07-24 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-07-01 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-06-24 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-06-05 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-05-27 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-05-22 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-04-09 | RESOLUTIONS | resolution | Resolution | |
| 2026-04-09 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-04-01 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-26 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-05 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-02 | SH03 | capital | Capital return purchase own shares treasury capital date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 16
- 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.