READ LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-07-09 (in 2mo)
Last made up 2025-06-25
Watchouts
None on the register
Cash
-£3M
+25.3% vs 2023
Net assets
-£2M
-4.8% vs 2023
Employees
7
+16.7% vs 2023
Profit before tax
-£988K
-27.3% vs 2023
Name history
Renamed 2 times since incorporation
- READ LIMITED 2000-12-11 → present
- READ HOLDINGS LIMITED 1996-10-02 → 2000-12-11
- PICKERINGS LIMITED 1887-11-15 → 1996-10-02
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | -£3,137,000 | -£3,457,000 | |
| Profit before tax | -£776,000 | -£988,000 | |
| Net profit | -£2,000 | -£81,000 | |
| Cash | -£3,643,000 | -£2,721,000 | |
| Total assets less current liabilities | -£1,033,000 | -£1,524,000 | |
| Net assets | -£1,683,000 | -£1,764,000 | |
| Equity | -£1,683,000 | -£1,764,000 | |
| Average employees | 6 | 7 | |
| Wages | £1,747,000 | £1,991,000 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Return on capital employed | 303.7% | 226.8% | |
| Interest cover | -20.37x | -13.77x |
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
- Standalone (parent only)
- Auditor
- RSM UK Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Notwithstanding net current liabilities of £2.9m (2023: £2.4m) at the balance sheet date, which include amounts due to group undertakings of £31m (2023: £30m), these financial statements have been prepared on the going concern basis. As explained above, the company is reliant on the continued financial support of its parent group to fund its working capital needs and has received confirmation of continuing financial support from Kiplun Limited, such that it will continue to make sufficient funds available to the company for at least the next 12 months following approval of these financial statements, to allow the company to meet its liabilities as they fall due in the normal course of business and will not seek repayment of amounts currently made available to the company by group undertakings. Consequently, at the date of approval of these financial statements, the directors believe that sufficient funds will continue to be made available by the Group and therefore the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Directors continue to prepare the financial statements on a going concern basis.”
Group structure
- READ LIMITED · parent
- Pickerings Europe Limited 100%
- Pickerings Limited 100%
- Pickerings Lifts Limited 100%
- Pickerings Building Services Limited 100%
- All Counties Finance Limited 100%
- Pickerings Manufacturing Limited 100%
- Globe Elevators Limited 100%
- Universal Lifts Limited 100%
- Universal Lift Systems Limited 100%
Significant events
- “The company incurred political expenditure of £37,000 (2023: £nil) in relation to the election campaign of the Conservative Party.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ANGUS, Stephen | Secretary | 2014-12-01 | — | — |
| FOTHERGILL, John Donald Read | Director | 1991-11-06 | Apr 1961 | British |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| APPLEBY, Denis | Secretary | — | 1992-09-30 |
| BELL, Martin Thomas | Secretary | 2001-04-05 | 2007-06-28 |
| HUMPHREYS, David John | Secretary | 1992-10-01 | 2001-04-05 |
| MIDDLETON, Robert George | Secretary | 2007-06-28 | 2014-07-31 |
| APPLEBY, Denis | Director | — | 1993-03-31 |
| BELL, Martin Thomas | Director | 1999-09-29 | 2007-07-25 |
| FOTHERGILL, John Christopher Read | Director | — | 1996-11-14 |
| HOPE, Trevor Thomas | Director | 1996-02-26 | 2000-03-22 |
| HUMPHREYS, David John | Director | 1999-09-29 | 2001-04-05 |
| MIDDLETON, Robert George | Director | 2007-07-25 | 2014-07-31 |
| PATTISON, John Richard | Director | — | 1996-06-30 |
| PICKERING, John Philip | Director | 2013-12-02 | 2025-05-21 |
| WHITE, Robert William | Director | — | 1996-11-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Kiplun Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-11-11 | Active |
| Mr John Donald Read Fothergill | Individual | Significant influence | 2016-07-15 | Active |
Filing timeline
Last 20 of 156 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-06 | AA | accounts | Accounts with accounts type full | |
| 2025-07-07 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-05-21 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-24 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-12-24 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2024-09-30 | AA | accounts | Accounts with accounts type full | |
| 2024-06-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-02 | AA | accounts | Accounts with accounts type full | |
| 2023-07-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-06 | AA | accounts | Accounts with accounts type full | |
| 2022-06-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-30 | AA | accounts | Accounts with accounts type full | |
| 2021-06-30 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-01-04 | AA | accounts | Accounts with accounts type full | |
| 2020-07-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2019-10-04 | AA | accounts | Accounts with accounts type full | |
| 2019-07-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2018-10-01 | AA | accounts | Accounts with accounts type full | |
| 2018-07-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2017-10-06 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- 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.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
—
Not reported
-
Cash
+25.3%
-£3,643,000 -£2,721,000
-
Net assets
-4.8%
-£1,683,000 -£1,764,000
-
Employees
+16.7%
6 7
-
Operating profit
-10.2%
-£3,137,000 -£3,457,000
-
Profit before tax
-27.3%
-£776,000 -£988,000
-
Wages
+14%
£1,747,000 £1,991,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers