BORGWARNER GATESHEAD LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. BORGWARNER GATESHEAD LIMITED 2018-02-01 → present
2. SEVCON LIMITED 1990-06-29 → 2018-02-01
3. TECH 1983-12-30 → 1990-06-29
4. TECHNICAL OPERATIONS LIMITED 1951-10-06 → 1983-12-30

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

Hazlewoods LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After making enquiries, the directors have assessed the future cash requirements of the company and have a reasonable expectation that the Company has adequate resources to continue to meet its liabilities as they fall due for a period of at least twelve months from the date of signing the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the report and financial statements.”

Group structure

1. BORGWARNER GATESHEAD LIMITED · parent
   1. BorgWarner Systems Lugo SRL 100% · Italy · Charger manufacturer

Significant events

• “On 1 June 2021, the trade and assets of the Company were sold to Turntide Technologies. All customers and open orders were transferred at that date. Employees were transferred over under TUPE to Turntide Technologies.”
• “In April 2024, £2,319,999 earn-out consideration was received from Turntide Technologies relating to the trade and assets purchase agreement.”
• “In May 2024, BorgWarner Systems Lugo SRL was sold to BorgWarner UK Holdings and Services Limited for $103,000,000. Profit on transaction was £77,468,366.”
• “During the year, the company undertook a reduction of its Capital Redemption Reserve and Share Premium Account totalling £28,695,854 and £11,934,519, respectively. The reduction was approved by shareholders via a special resolution and supported by a solvency statement signed by the directors.”

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

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

2

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  -35%

  £588,306 → £382,316

• Net assets

  +105.1%

  -£33,611,716 → £1,703,337

• Employees

  -25%

  4 → 3

• Profit before tax

  +4,307.9%

  -£1,908,677 → £80,315,053

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