PRINCESS YACHTS LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-07-12 (in 2mo)
Last made up 2025-06-28
Watchouts
None on the register
Cash
£17M
+10.9% vs 2023
Net assets
-£60M
-39.2% vs 2023
Employees
2,885
-8.6% vs 2023
Profit before tax
-£17M
+74% vs 2023
Name history
Renamed 3 times since incorporation
- PRINCESS YACHTS LIMITED 2017-06-14 → present
- PRINCESS YACHTS PLC 2017-06-14 → 2017-06-14
- PRINCESS YACHTS INTERNATIONAL PLC 2001-08-02 → 2017-06-14
- MARINE PROJECTS (PLYMOUTH) LIMITED 1965-08-12 → 2001-08-02
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 | £310,522,000 | £378,079,000 | |
| Operating profit | -£61,535,000 | -£8,099,000 | |
| Profit before tax | -£65,277,000 | -£16,999,000 | |
| Net profit | -£65,277,000 | -£16,999,000 | |
| Cash | £15,039,000 | £16,674,000 | |
| Total assets less current liabilities | -£1,155,000 | -£10,826,000 | |
| Net assets | -£43,082,000 | -£59,951,000 | |
| Equity | -£43,082,000 | -£59,951,000 | |
| Average employees | 3,158 | 2,885 | |
| Wages | £121,680,000 | £111,418,000 |
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 | -19.8% | -2.1% | |
| Net margin | -21.0% | -4.5% | |
| Return on capital employed | 5327.7% | 74.8% | |
| Gearing (liabilities / total assets) | 117.8% | 129.3% | |
| Current ratio | 0.75x | 0.68x | |
| Interest cover | -13.92x | -0.91x |
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 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“After consideration of the above matters, the Directors are of the opinion that it remains appropriate to prepare the financial statements on a going concern basis.”
Group structure
- PRINCESS YACHTS LIMITED · parent
- Felix Engineering Ltd 100%
- Princess Yachts Hong Kong Limited 100%
- Princess Yachts USA Inc. 100%
- Princess Yachts Europe B.V 100%
Significant events
- “The arrival of KPS as the new majority shareholder in 2023 and the subsequent support brought by them has invigorated an ambitious turnaround plan for 2024 continuing into 2025.”
- “The Company launched two new boats in 2024, the F58 and S80.”
- “Under the most recent restatement of the agreement in June 2024, financial covenants were adjusted and reset with the first test date set to 31 January 2025. Repayments of the facility commenced in December 2024 (June 2024 repayment deferred to March 2025).”
- “The Company has obtained a post year end waiver in respect of the clear down requirement for the six month period ended 31 August 2025.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 29 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BRATT, Adrian Richard | Secretary | 2017-03-14 | — | — |
| BRATT, Adrian Richard | Director | 2017-07-05 | Sep 1971 | British |
| CLARE, Simon Oliver | Director | 2023-10-13 | Mar 1968 | British |
| GREEN, William Daniel | Director | 2004-09-01 | Jan 1976 | British |
| LAWRENCE, Andrew | Director | 2023-10-13 | Jun 1980 | British |
| REED, Annie-Jane | Director | 2023-10-13 | May 1974 | British |
| SANGER, Ross Christian | Director | 2025-08-18 | May 1971 | British |
| SMALE, James Matthew | Director | 2023-10-13 | Nov 1980 | British |
Show 29 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BURNHAM, David Gordon | Secretary | 1994-02-01 | 2001-09-03 |
| GALE, Russell John | Secretary | 2001-09-03 | 2015-03-27 |
| PAGE, John Stanley | Secretary | — | 1994-02-01 |
| SANGER, Ross Christian | Secretary | 2015-04-15 | 2016-03-02 |
| BALMFORTH, Ian | Director | 2017-07-05 | 2019-10-31 |
| BARKER, David John | Director | 2003-04-22 | 2004-04-05 |
| BURNHAM, David Gordon | Director | — | 2008-07-09 |
| CAHILL, Paul Alexander | Director | 2022-08-31 | 2025-03-21 |
| DUFFIN, Ian Andrew | Director | 2004-12-06 | 2015-02-28 |
| DYOS, Andrew Richard | Director | 2017-07-05 | 2017-11-27 |
| EDGE, John William | Director | — | 1992-02-29 |
| GATES, Christopher John | Director | 1992-02-20 | 2019-08-02 |
| HASLAM, Kiran Jay | Director | 2017-07-05 | 2021-10-14 |
| HEDIN, Erik Magni | Director | 2024-10-25 | 2025-08-18 |
| HOOPER, Grant Andres | Director | 2017-11-09 | 2019-11-15 |
| KING, David Stewart | Director | — | 2015-08-06 |
| LAMBERT, Richard | Director | 2013-05-01 | 2014-06-30 |
| LANGMAID, Peter Anthony | Director | — | 2003-03-31 |
| MACKENZIE, Paul George | Director | 2017-07-05 | 2023-09-12 |
| MAXA, Graham Malcolm | Director | 2017-07-05 | 2024-12-17 |
| MORLEY, Peter Kenneth | Director | 1995-05-22 | 1996-03-01 |
| PEARS, Matthew Anthony | Director | 2019-07-16 | 2020-05-17 |
| PYLE, David | Director | 1994-09-01 | 2016-03-10 |
| RIDLEY, Stephen | Director | 2003-04-28 | 2004-04-26 |
| STOYEL, Rodney | Director | 2004-02-02 | 2004-04-05 |
| TURNER, Paul Michael | Director | 2018-02-26 | 2023-05-19 |
| VINEY, Michael | Director | — | 1991-08-04 |
| WILLIAMS, Andrew Nicolas | Director | 2011-01-24 | 2011-11-22 |
| WRIGHT, Benjamin Paul | Director | 2017-08-31 | 2020-06-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Princess Yachts (Holdings) Limited | Corporate entity | Shares 75–100% | 2016-05-06 | Active |
Filing timeline
Last 20 of 250 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-09-08 | AA | accounts | Accounts with accounts type full | |
| 2025-08-18 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-18 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-03-24 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-31 | AA | accounts | Accounts with accounts type full | |
| 2024-12-20 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-23 | AA | accounts | Accounts with accounts type full | |
| 2023-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-25 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-07-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-06-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-05-25 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- 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
+21.8%
£310,522,000 £378,079,000
-
Cash
+10.9%
£15,039,000 £16,674,000
-
Net assets
-39.2%
-£43,082,000 -£59,951,000
-
Employees
-8.6%
3,158 2,885
-
Operating profit
+86.8%
-£61,535,000 -£8,099,000
-
Profit before tax
+74%
-£65,277,000 -£16,999,000
-
Wages
-8.4%
£121,680,000 £111,418,000
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