PORT OF DUNDEE LIMITED
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Cash
£0
Latest balance sheet
Net assets
£22M
-0.4% vs 2024
Employees
47
-6% lowest in 3 filed years
Profit before tax
£238K
-86.5% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
After making enquiries, the Directors have a reasonable expectation that the Group will be able to meet its financial obligations as they fall due and has adequate resources to continue in operational existence for the foreseeable future. Whilst noting the Company's net current liabilities of £44m, and with a letter of support from the Group, the Directors of the Company have a reasonable expectation that the Group will be able to support the Company for the foreseeable future, being at least 12 months from the signing of this report. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Industrials 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 | £17,938,000 | £16,031,000 | £12,721,000 | -20.6% | |
| Operating profit | £6,267,000 | £4,136,000 | £2,663,000 | -35.6% | |
| Profit before tax | £3,729,000 | £1,757,000 | £238,000 | -86.5% | |
| Net profit | £2,984,000 | £1,806,000 | -£88,000 | -104.9% | |
| Cash | £1,000 | £0 | £0 | — | |
| Total assets less current liabilities | £23,470,000 | £25,789,000 | £25,909,000 | +0.5% | |
| Net assets | £20,483,000 | £22,275,000 | £22,194,000 | -0.4% | |
| Equity | £20,483,000 | £22,275,000 | £22,194,000 | -0.4% | |
| Average employees | 51 | 50 | 47 | -6% | |
| Wages | £2,486,000 | £2,625,000 | £2,216,000 | -15.6% | |
| Directors' remuneration | — | — | — | — |
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 | 34.9% | 25.8% | 20.9% | |
| Net margin | 16.6% | 11.3% | -0.7% | |
| Return on capital employed | 26.7% | 16.0% | 10.3% | |
| Gearing (liabilities / total assets) | 69.2% | 66.3% | — | |
| Current ratio | 0.12x | 0.09x | 0.05x | |
| Interest cover | 2.47x | 1.74x | 1.10x |
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 'Reduced Disclosure Framework'
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“After making enquiries, the Directors have a reasonable expectation that the Group will be able to meet its financial obligations as they fall due and has adequate resources to continue in operational existence for the foreseeable future. Whilst noting the Company's net current liabilities of £44m, and with a letter of support from the Group, the Directors of the Company have a reasonable expectation that the Group will be able to support the Company for the foreseeable future, being at least 12 months from the signing of this report. For this reason, they continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- PORT OF DUNDEE LIMITED · parent
- Grainfax Limited 100%
- AF Dundee Limited 100%
Significant events
- “No significant post balance sheet events.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 17 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SMYTH, Pamela June | Secretary | 2012-08-31 | — | British |
| MACGREGOR, Stuart Alastair | Director | 2024-12-09 | Feb 1971 | British |
| WALLACE, Stuart James | Director | 2017-03-31 | Apr 1970 | British |
Show 17 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| MCNEILL, Morag | Secretary | 2005-03-15 | 2012-08-31 |
| THOMPSON, Hugh Macrae | Secretary | 1995-11-24 | 1995-11-24 |
| TOTHILL, John Alan | Secretary | 1995-11-24 | 2005-03-15 |
| SHIELD & KYD WS | Corporate Secretary | 1995-01-16 | 1995-11-24 |
| CRAN, Carole Jean | Director | 2018-01-03 | 2024-11-08 |
| DOBBIE, George Taylor, Captain | Director | 1995-11-24 | 1997-06-13 |
| DUNCAN, Brownlow Gregor | Director | 1995-01-16 | 1995-11-24 |
| FAIR, James Stuart | Director | 1995-01-16 | 1995-11-24 |
| FLEMING, Alistair | Director | 1996-02-09 | 2001-02-05 |
| HAMMOND, Charles Graham | Director | 2001-02-05 | 2024-06-30 |
| MORRISON, Alexander Charles | Director | 1995-11-24 | 2005-05-06 |
| MURRAY, William Wilson | Director | 1995-11-24 | 2011-05-06 |
| PALMER, Nicola Catharine | Director | 2011-07-15 | 2012-08-20 |
| PATERSON, Stuart Randall | Director | 2011-04-06 | 2018-01-03 |
| SMITH, Alexander Craig | Director | 1996-02-16 | 2003-08-27 |
| SMITH, Terence Patrick | Director | 1995-11-24 | 2006-05-03 |
| WATSON, John James, Captain | Director | 1995-11-24 | 1996-02-16 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Forth Ports Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 140 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-30 | AA | accounts | Accounts with accounts type full | |
| 2026-01-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-24 | AA | accounts | Accounts with accounts type full | |
| 2025-01-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-09 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-15 | TM01 | officers | Termination director company with name termination date | |
| 2024-07-05 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-28 | AA | accounts | Accounts with accounts type full | |
| 2024-01-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-26 | AA | accounts | Accounts with accounts type full | |
| 2023-01-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-17 | AA | accounts | Accounts with accounts type full | |
| 2022-01-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-06-11 | AA | accounts | Accounts with accounts type full | |
| 2021-03-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-10-01 | AA | accounts | Accounts with accounts type full | |
| 2020-01-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2019-10-01 | AA | accounts | Accounts with accounts type full | |
| 2019-01-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2018-09-21 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- 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.