RIELLO LIMITED

• ⚠

  Material uncertainty over going concern

  The financial statements have been prepared on a going concern basis. However as noted above there is a potential pending sale of the Company which is expected to result in a change in ownership and control of the Company within 12 months of the date of approval of this report and financial statements. In the event of a change in ownership, the directors cannot assess or control all circumstances in the future of the Company. This includes, but it is not limited to the strategy and plan for the Company and the intent and ability of any new owners to continue to operate and finance the Company. The going concern assessment of the Company is therefore subject to uncertainties relating to the potential change in ownership of the Company and the actual funding requirements and financing arrangements post completion as the existing parental support is not expected to continue.

1. RIELLO LIMITED 1989-03-08 → present
2. HYDRAQUEST (OIL & GAS BURNERS) LIMITED 1978-12-31 → 1989-03-08
3. BILTONQUEST LIMITED 1976-05-28 → 1978-12-31

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

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The financial statements have been prepared on a going concern basis. However as noted above there is a potential pending sale of the Company which is expected to result in a change in ownership and control of the Company within 12 months of the date of approval of this report and financial statements. In the event of a change in ownership, the directors cannot assess or control all circumstances in the future of the Company. This includes, but it is not limited to the strategy and plan for the Company and the intent and ability of any new owners to continue to operate and finance the Company. The going concern assessment of the Company is therefore subject to uncertainties relating to the potential change in ownership of the Company and the actual funding requirements and financing arrangements post completion as the existing parental support is not expected to continue.”

Significant events

• “On the 7th May 2025, Carrier announced its intent to divest the entire global Riello business, including the Riello, Beretta, Vokėra and Sylber brands, along with its global commercial, R&D and manufacturing operations. This decision to explore divestiture is part of Carrier's portfolio transformation towards intelligent climate and energy solutions, with increased focused on renewables products.”

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

1

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%

  £27,768,000 → £31,203,000

• Cash

  -20.9%

  £8,867,000 → £7,016,000

• Net assets

  +33%

  £8,022,000 → £10,671,000

• Employees

  -4.8%

  21 → 20

• Operating profit

  +27.9%

  £2,076,000 → £2,656,000

• Profit before tax

  +27.9%

  £2,076,000 → £2,656,000

• Wages

  +6.5%

  £1,016,000 → £1,082,000

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