PROJECT STEEL ACQUIRECO LIMITED
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Cash
£2.6M
Latest balance sheet
Net assets
£10M
Equity attributable
Employees
108
Average over period
Profit before tax
£549K
Period ending 2025-12-31
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £8,955,015 | £11,219,763 | — | |
| Operating profit | -£571,655 | £609,947 | — | |
| Profit before tax | -£640,289 | £548,993 | — | |
| Net profit | -£617,670 | £1,483,280 | — | |
| Cash | £3,128,283 | £2,617,199 | — | |
| Total assets less current liabilities | £8,906,078 | £10,737,316 | — | |
| Net assets | £8,608,142 | £10,208,389 | — | |
| Equity | £8,608,142 | £10,208,389 | — | |
| Average employees | 101 | 108 | — | |
| Wages | £4,977,401 | £4,933,297 | — | |
| Directors' remuneration | £383,138 | £360,786 | — |
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 —. Year-on-year comparison hidden: this filing covers about 12 months versus 16 months prior. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Operating margin | -6.4% | 5.4% | |
| Net margin | -6.9% | 13.2% | |
| Return on capital employed | -6.4% | 5.7% | |
| Gearing (liabilities / total assets) | 29.7% | 23.6% | |
| Current ratio | 1.66x | 2.25x | |
| Interest cover | -6.17x | 6.63x |
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
- Azets Audit Services
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- PROJECT STEEL ACQUIRECO LIMITED · parent
- Antibody Analytics Limited T/A RoukenBio 100%
- Rouken Bio Limited 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MAY, Liam Steven | Director | 2023-10-12 | Nov 1985 | British |
| MCCLUSKEY, Paul | Director | 2024-05-03 | Dec 1963 | British |
| MCDONALD, Alan Thomas | Director | 2024-05-03 | Feb 1980 | British |
| UPSALL, Andrew Richard | Director | 2023-08-29 | Sep 1979 | British |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Miss Michahaila Julia Downie | Individual | Shares 25–50%, Voting 25–50% | 2023-10-16 | Active |
| Northedge Capital Nominee Ltd | Corporate entity | Voting 25–50% | 2023-10-12 | Active |
| Andrew Richard Upsall | Individual | Shares 50–75%, Voting 50–75% | 2023-08-29 | Active |
Filing timeline
Last 20 of 31 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-07-09 MA Memorandum articles
- 2025-07-09 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-21 | AA | accounts | Accounts with accounts type group | |
| 2025-09-29 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-09-12 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2025-09-11 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-31 | SH06 | capital | Capital cancellation shares | |
| 2025-07-28 | SH06 | capital | Capital cancellation shares | |
| 2025-07-09 | MA | incorporation | Memorandum articles | |
| 2025-07-09 | SH01 | capital | Capital allotment shares | |
| 2025-07-09 | RESOLUTIONS | resolution | Resolution | |
| 2025-05-22 | AA | accounts | Accounts with accounts type group | |
| 2024-09-26 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2024-09-26 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2024-09-26 | CH01 | officers | Change person director company with change date | |
| 2024-09-26 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-09-26 | CH01 | officers | Change person director company with change date | |
| 2024-09-26 | CH01 | officers | Change person director company with change date | |
| 2024-09-26 | CH01 | officers | Change person director company with change date | |
| 2024-09-17 | AA01 | accounts | Change account reference date company current extended | |
| 2024-09-02 | PSC01 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-09-02 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 3
- 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.