FTV PROCLAD INTERNATIONAL LIMITED

1. FTV PROCLAD INTERNATIONAL LIMITED 2008-01-10 → present
2. PROCLAD INTERNATIONAL LIMITED 2002-01-03 → 2008-01-10
3. BI MARINE & OFFSHORE LIMITED 1995-07-18 → 2002-01-03
4. BROMSGROVE MARINE & OFFSHORE LIMITED 1992-03-25 → 1995-07-18
5. JAMES NAYLOR (NUMBER TWO) LIMITED 1985-07-05 → 1992-03-25
6. JAMES NAYLOR LIMITED 1975-05-20 → 1985-07-05

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 101

Reporting scope

Standalone (parent only)

Auditor

Johnston Carmichael LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have prepared the financial statements on a going concern basis. In making their assessment the directors have considered the company's financial results in the year being a profit after tax of £551,965, Net Current liabilities of £3,860,029 after excluding intercompany receivables of £8,493,095 which contributes to an overall Net asset position of £6,932,970 and the pipeline of work. The directors have prepared a detailed cashflow projections out to December 2026 that demonstrate that the company can meet its obligations as they fall due.”

Group structure

1. FTV PROCLAD INTERNATIONAL LIMITED · parent
   1. FTV Proclad UK Limited
   2. Proclad Heat Treatment Limited
   3. Proclad Induction Bending Limited
   4. IODS Pipe Clad Limited

Significant events

• “The company has seen a revival of core market growth over the course of 2024, with order activity levels continuing to increase within defence and the oil and gas sector projects.”
• “The company's orderbook experienced significant growth, leading to increased recruitment levels and the demand for multiple shift pattern working to keep pace with output levels. Sales in the year of £12.4M were 12% higher than prior year.”
• “Along with it's experienced technical R&D centre, the company possesses transferrable engineering resources and specialist sector accreditations. This will enable the company to grow new revenue streams within the nuclear and renewable sector. This enables adverse spread of attained revenues which resulted in gross margins continued increase.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  +12.4%

  £11,041,398 → £12,413,713

• Cash

  +13,163.8%

  £7,637 → £1,012,953

• Net assets

  +8.7%

  £6,381,005 → £6,932,970

• Employees

  +10.6%

  104 → 115

• Operating profit

  +691%

  £128,078 → £1,013,155

• Profit before tax

  +206%

  £296,470 → £907,311

• Wages

  +8.6%

  £4,210,332 → £4,570,423

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