MERITOR HEAVY VEHICLE SYSTEMS LIMITED

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

• ◆

  5 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

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.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

UHY Hacker Young

Audit opinion

Qualified

Going concern

Affirmed

“Whilst the company has net current liabilities of £130,137,000 this is driven by the classification of the long-term loan due to Meritor Arvin Finance Ireland Limited (hereafter AFI) as due within one year owing to the existence of a call option enabling AFI to call the loan annually in August each year. The directors have received confirmation from AFI that the call option will not be exercised in August 2024. In addition the company has received a letter of support from AFI who have guaranteed the company £50k to meet its day to day working capital requirements for a period of at least twelve months from signing the 2024 financial statements. The directors deem this amount to be sufficient to cover the company's financial obligations and legacy warranty commitments in this period and have assessed AFI to have sufficient resources to provide this support. In addition, the company is part of the wider Cummins Inc. group. The directors have concluded that the company has sufficient resources to continue to pay amounts due for at least twelve months from the date of signing the financial statements and meet any liabilities as they fall due.”

Group structure

1. MERITOR HEAVY VEHICLE SYSTEMS LIMITED · parent
   1. Meritor (China) Holdings Limited 100% · China · Holding company
   2. Meritor Aftermarket Netherlands BV 100% · Netherlands · Sales and marketing
   3. Meritor Aftermarket Spain S.A.U. 100% · Spain · Sales and marketing
   4. Meritor Aftermarket UK Limited 100% · UK · Sales and marketing
   5. Meritor Commercial Vehicle Systems India Private Limited 99.97% · India · Manufacturing of equipment for motor vehicles and trailers
   6. Meritor Drivetrain Systems (Nanjing) Company Limited 100% · China · Merchandising of drivetrain systems
   7. Meritor Germany GmbH 25.95% · Germany · Sales and marketing
   8. Meritor Heavy Vehicle Systems (Manufacturing) Limited 100% · Holding company
   9. Meritor Holdings (Barbados) Limited 100% · Barbados · Holding company
   10. Xuzhou Meritor Axle Company Limited 60% · China · Merchandising of mining truck axles

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

5

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  —

  Not reported

• Net assets

  -9.1%

  -£109,112,000 → -£119,073,000

• Employees

  —

  Not reported

• Operating profit

  -202.2%

  -£45,000 → -£136,000

• Profit before tax

  -2,983.9%

  -£323,000 → -£9,961,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers