U-POL LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. U-POL LIMITED 2002-09-23 → present
2. W.DAVID & SONS,LIMITED 1949-02-23 → 2002-09-23

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

Johnston Carmichael LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis which the directors consider to be appropriate. The directors have prepared forecasts for an appropriate look-forward period. In preparing those forecasts they have considered a plausible increase to sales and EBITDA compared to 2024 achievable due to sales in the NAM market recovering from the downturn in 2024 and new distribution opportunities in China. The directors also note that the company has positive cash, significant net current assets and net assets position as at the balance sheet date and as at the date of approving these financial statements. Consequently, the directors are confident that the company is in a robust financial position and will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Group structure

1. U-POL LIMITED · parent
   1. U-POL Canada Limited 100% · Canada · Distribution of automotive refinish products
   2. U-POL Netherlands B.V. 100% · Netherlands · Distribution of automotive refinish products
   3. U-POL Russia LLC 100% · Russia · Distribution of automotive refinish products

Significant events

• “As part of a global corporate initiative to simplify Axalta global organisational structure, during 2024 there were steps taken to formally strike-off the U-POL legal entities listed below.”
• “This process entailed the contribution and distribution of several intercompany loans between U-POL entities resulting in the release of them, and the distribution of shares to Axalta Coating Systems UK Holding Ltd, prior to the strike-off.”
• “U-POL Limited is now a wholly owned subsidiary of Axalta Coating Systems UK Holding Limited.”
• “As part of the continuation of integration with Axalta, U-POL will be transitioning to the Axalta ERP operating system which is planned for 2026 - this is expected to bring further synergies for the company.”

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

Filings

2

last 12 months

Capital events

1

last 24 months

Officers appointed

0

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

  -4.8%

  £105,728,000 → £100,624,000

• Cash

  -33.3%

  £12,749,000 → £8,503,000

  lowest in 3 filed years

• Net assets

  -56.7%

  £205,913,000 → £89,211,000

  lowest in 3 filed years

• Employees

  +0.6%

  311 → 313

  highest in 3 filed years

• Operating profit

  -23.7%

  £17,097,000 → £13,041,000

• Profit before tax

  -23.3%

  £18,067,000 → £13,866,000

  lowest in 3 filed years

• Wages

  +6.7%

  £13,303,000 → £14,194,000

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