PROJECT STEEL ACQUIRECO LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-09-11 (in 4mo)
Last made up 2025-08-28
Watchouts
None on the register
Cash
£3M
Latest balance sheet
Net assets
£9M
Equity attributable
Employees
101
Average over period
Profit before tax
-£640K
Period ending 2024-12-31
Net assets
1-year trend · vs Industrials median
Accounts
1-year trend · latest reflected 2024-12-31
| Metric | Trend | 2024-12-31 |
|---|---|---|
| Turnover | £8,955,015 | |
| Operating profit | -£571,655 | |
| Profit before tax | -£640,289 | |
| Net profit | -£617,670 | |
| Cash | £3,128,283 | |
| Total assets less current liabilities | £8,906,078 | |
| Net assets | £8,608,142 | |
| Equity | £8,608,142 | |
| Average employees | 101 | |
| Wages | £4,977,401 | |
| Directors' remuneration | £383,138 |
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
Latest filed period vs the prior one
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 |
|---|---|---|
| Operating margin | -6.4% | |
| Net margin | -6.9% | |
| Return on capital employed | -6.4% | |
| Current ratio | 1.66x | |
| Interest cover | -6.17x |
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
“The directors consider the group and the company as going concerns. 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.”
Group structure
- PROJECT STEEL ACQUIRECO LIMITED · parent
- Antibody Analytics Limited T/A RoukenBio 100%
- Rouken Bio Limited 100%
Significant events
- “The directors believe that the strategic investments made in 2024 will support sustainable growth in 2025 and beyond.”
- “As at 31 December 2024, Antibody Analytics Limited failed to comply with covenants that form part of the loan agreement with Scottish Enterprise. The directors do not expect that this will lead to an immediate repayment of the loan however the balance remaining outstanding at the end of 2024 has been disclosed within creditors less than one year as a result of the failure to meet the requirements of the covenants.”
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 30 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 | |
|---|---|---|---|---|
| 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 | |
| 2024-09-02 | PSC04 | persons-with-significant-control | Change to a person with significant control |
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.