AIRCRAFT RESEARCH ASSOCIATION LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-07-06 (in 2mo)
Last made up 2025-06-22
Watchouts
None on the register
Cash
£2M
+272.6% vs 2023
Net assets
-£3M
-256.6% vs 2023
Employees
149
+9.6% vs 2023
Profit before tax
-£6M
-378.5% vs 2023
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 | £13,916,573 | £10,554,405 | |
| Operating profit | -£1,090,887 | -£5,582,818 | |
| Profit before tax | -£1,154,929 | -£5,526,507 | |
| Net profit | -£1,379,929 | -£5,729,826 | |
| Cash | £426,894 | £1,590,496 | |
| Total assets less current liabilities | £3,867,121 | -£2,359,423 | |
| Net assets | £2,233,098 | -£3,496,724 | |
| Equity | £2,233,098 | -£3,496,724 | |
| Average employees | 136 | 149 | |
| Wages | £6,477,008 | £7,244,212 |
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 |
|---|---|---|---|
| Operating margin | -7.8% | -52.9% | |
| Net margin | -9.9% | -54.3% | |
| Return on capital employed | -28.2% | 236.6% | |
| Current ratio | 0.80x | 0.53x | |
| Interest cover | -16.95x | -104.32x |
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
- Auditor
- MHA
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have reasonable expectation, taking full account of the five-year Business Plan and Financial Strategy, that the Association has adequate financial resources to continue its operational existence for the foreseeable future.”
Significant events
- “During 2024 an extensive maintenance programme was undertaken within the Associations wind tunnel facilities, ensuring business critical activities were developed and modernised. This reduced the gross income for the year within its Aerodynamic line of business due to the facilities being partly unavailable during 2024.”
- “At the balance sheet date the performance bonds have been cancelled.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 49 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAE SYSTEMS CORPORATE SECRETARY LIMITED | Corporate Secretary | 2025-10-06 | — | — |
| ASHFIELD, Nathan | Director | 2022-04-11 | May 1976 | British |
| BARRATT, Matthew John | Director | 2023-09-21 | Apr 1985 | British |
| GRZYWNA, Jayne Helen | Director | 2023-09-21 | Dec 1977 | British |
| HOLMES, David Samuel John | Director | 2023-09-21 | Nov 1967 | British |
| WARBURTON, Jon | Director | 2026-01-01 | Apr 1966 | British |
Show 49 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CARR, Malcolm Paul | Secretary | 1992-03-10 | 2000-08-31 |
| LLOYD-DAVIES, Ian | Secretary | — | 1991-10-31 |
| RENTLE, Kieron John | Secretary | 2000-09-01 | 2016-07-12 |
| SHRIBBS, Robert Eric | Secretary | 2016-07-12 | 2021-04-27 |
| ARNALL, John | Director | — | 1993-12-31 |
| BALMFORD, David Ernest Hall | Director | — | 1995-11-01 |
| BARTON, Hilary Ann | Director | 2005-03-08 | 2012-12-07 |
| BARZEGAR, Behrooz | Director | 2001-06-01 | 2017-05-26 |
| BYHAM, Geoffrey Malcolm | Director | 1995-11-01 | 2005-05-31 |
| CLARKSON, Christopher Douglas Sylvester | Director | 1999-02-03 | 2008-06-06 |
| COHEN, Kim | Director | 1995-07-14 | 1998-10-05 |
| CUTTEL, Diane | Director | 2010-06-04 | 2012-01-19 |
| DUNMORE, Karen Sarah | Director | 2009-10-19 | 2011-07-31 |
| DUNN, John David, Dr | Director | 2012-03-23 | 2022-09-23 |
| EDWARDS, Michael | Director | — | 1995-07-14 |
| GARDNER, David | Director | — | 1992-05-18 |
| GARWOOD, Keith Ronald | Director | 1995-08-01 | 2002-10-31 |
| GRAHAM, Neil | Director | 2008-06-06 | 2019-01-11 |
| GREGSON, Lorraine | Director | 2011-10-12 | 2019-01-11 |
| HARDING, Steven | Director | 2019-01-11 | 2023-09-21 |
| HILL, Roland John | Director | — | 1995-08-01 |
| HIND, James Malcolm | Director | 2003-08-27 | 2005-04-27 |
| HODGKINSON, Martin Andrew | Director | 1993-10-26 | 2006-07-11 |
| HOLTON, Stephen Anthony | Director | 2007-02-19 | 2017-12-31 |
| HUTCHINGS, Paul | Director | 2021-09-16 | 2023-12-18 |
| JOB, Christopher Stephen | Director | 2006-07-12 | 2022-04-11 |
| JUPP, Jeffrey Addison | Director | 1993-03-09 | 2001-05-31 |
| KEMP, John Douglas | Director | — | 2004-07-31 |
| KIRK, Geoffrey Eric, Professor | Director | — | 2005-03-08 |
| LAUGHER, Richard David Frederick John | Director | — | 1993-10-01 |
| LEE, Raymond Norman | Director | 1998-05-13 | 1999-10-31 |
| LEWIS, Stuart John | Director | 1993-05-04 | 1998-05-13 |
| LOLLER, Carl Peter, Dr | Director | 2009-09-01 | 2019-08-23 |
| METHVEN, Paul | Director | 2004-08-01 | 2010-06-04 |
| PARKINSON, Emma Suzanne | Director | 2024-01-31 | 2026-04-23 |
| PEARCE, Wayne | Director | 2023-09-21 | 2024-03-01 |
| RUFFLES, Philip Charles | Director | — | 1992-03-10 |
| SAUNDERS, Trevor Bantock | Director | 1992-07-14 | 1993-05-04 |
| SCAIFE, Richard | Director | 1999-10-01 | 2000-12-31 |
| SCOTT, Gavin | Director | 2004-12-01 | 2009-10-19 |
| SCOTT-WILSON, Timothy Hew | Director | — | 1999-02-03 |
| SWADLING, Sidney John | Director | — | 1993-05-12 |
| TAYLOR, Victor David | Director | — | 2005-10-06 |
| TERRY, Andrew | Director | 2013-12-06 | 2019-12-31 |
| TIMMS, Stephen | Director | 2005-12-05 | 2007-12-04 |
| WAKE, Alison Jane | Director | 2001-02-01 | 2003-08-27 |
| WHITESIDE, Paul Vernon | Director | 2007-12-04 | 2009-09-01 |
| YOUNG, Geoffrey Maurice | Director | 1994-02-01 | 1998-05-13 |
| YOUNG, Kevin | Director | 2019-01-11 | 2023-09-21 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bae Systems Plc | Corporate entity | Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 220 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-24 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-20 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2026-01-21 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-07 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-10-04 | AA | accounts | Accounts with accounts type full | |
| 2025-07-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-12 | AA | accounts | Accounts with accounts type full | |
| 2024-07-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-01 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-13 | CH01 | officers | Change person director company with change date | |
| 2023-12-12 | CH01 | officers | Change person director company with change date | |
| 2023-12-12 | CH01 | officers | Change person director company with change date | |
| 2023-12-12 | CH01 | officers | Change person director company with change date | |
| 2023-10-09 | CH01 | officers | Change person director company with change date | |
| 2023-09-21 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-21 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-21 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-21 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 2
- 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
-24.2%
£13,916,573 £10,554,405
-
Cash
+272.6%
£426,894 £1,590,496
-
Net assets
-256.6%
£2,233,098 -£3,496,724
-
Employees
+9.6%
136 149
-
Operating profit
-411.8%
-£1,090,887 -£5,582,818
-
Profit before tax
-378.5%
-£1,154,929 -£5,526,507
-
Wages
+11.8%
£6,477,008 £7,244,212
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