PW DEFENCE LTD

• ⚠

  Material uncertainty over going concern

  The Directors are aware that the Group is currently engaged in an active sales process which may complete within 12 months from the date of the approval of the financial statements and may result in a change in ownership and control of the Group and Company. This may result in changes within the Group's structure and the assumptions made above. This creates inherent uncertainty around the intentions of the owners of the Company for the duration of the going concern review period, with regards to the ongoing business and as a result, a material uncertainty is considered to exist that may cast significant doubt on the Company's ability to continue as a going concern.

1. PW DEFENCE LTD 2019-06-27 → present
2. CHEMRING DEFENCE UK LIMITED 2007-11-01 → 2019-06-27
3. PW DEFENCE LIMITED 2000-04-27 → 2007-11-01
4. HALEY AND WELLER LIMITED 1949-02-01 → 2000-04-27

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)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors are aware that the Group is currently engaged in an active sales process which may complete within 12 months from the date of the approval of the financial statements and may result in a change in ownership and control of the Group and Company. This may result in changes within the Group's structure and the assumptions made above. This creates inherent uncertainty around the intentions of the owners of the Company for the duration of the going concern review period, with regards to the ongoing business and as a result, a material uncertainty is considered to exist that may cast significant doubt on the Company's ability to continue as a going concern.”

Group structure

1. PW DEFENCE LTD · parent
   1. KeTech Holdings Ltd 100% · Wilne Mill, Draycott, Derby, DE72 3QJ · Holding Company
   2. KeTech Defence Ltd 100% · Wilne Mill, Draycott, Derby, DE72 3QJ · Manufacture and Trading

Significant events

• “On 5 January 2024, the Company acquired the entire share capital of KeTech Holdings Limited and its subsidiary KeTech Defence Limited, a company which provides chemical and vapour detection to the Defence sector.”
• “The Company made an operating profit in the year of £1,009,000 (2023: £791,000), which included costs relating to the loss of capacity from the incident in 2023.”
• “On 17 January 2025, the Company acquired the entire share capital of B.C.B International Limited, a company registered in England and Wales.”
• “The Group is currently engaged in an active sales process which may complete within 12 months from the date of the approval of the financial statements and may result in a change in ownership and control of the Group.”

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

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +126.9%

  £10,850,000 → £24,622,000

• Cash

  -47.3%

  £1,503,000 → £792,000

• Net assets

  +30.5%

  £11,180,000 → £14,589,000

• Employees

  -2.7%

  149 → 145

• Operating profit

  +27.6%

  £791,000 → £1,009,000

• Profit before tax

  +716.9%

  £740,000 → £6,045,000

• Wages

  +49.7%

  £3,558,000 → £5,327,000

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