HYDRIL PCB LIMITED

1. HYDRIL PCB LIMITED 2007-12-04 → present
2. FLOWGUARD LIMITED 2005-07-11 → 2007-12-04
3. HYDRIL NEW MILLS LIMITED 2005-06-28 → 2005-07-11
4. WEIR FLOWGUARD LIMITED 2004-12-23 → 2005-06-28
5. WEIR VALVES & CONTROLS FLOWGUARD LIMITED 2002-09-12 → 2004-12-23
6. FLOWGUARD LIMITED 1979-12-31 → 2002-09-12
7. SPINSPICER LIMITED 1979-05-09 → 1979-12-31

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 101

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“When assessing the going concern assumption, the directors and management have considered the company's working capital and funding requirements in 2025 and 2026. In addition, HMH Holding B.V., the ultimate parent company, has provided a letter of support confirming it will continue to support the company by providing adequate strategic, operational and financial assistance to enable the company to continue its business operations as a going concern for the foreseeable future, and for a period of at least 12 months from the date of signing of these financial statements. HMH Holding B.V. also confirmed it will not recall or demand any repayment of any other loans or advances due to it by the company as at 31 December 2024, except that insofar as the funds of the company permits repayment and that such repayment will not adversely affect the ability of the company to carry on their business operations as a going concern. Based on the above, the directors consider it appropriate to prepare the financial statements on a going concern basis.”

Group structure

1. HYDRIL PCB LIMITED · parent
   1. Hydril Pressure Controlling Arabia Limited 70% · Saudi Arabia

Significant events

• “As a consequence of the funding requirements required to fund the joint venture within the group, the company has signed a participation agreement where they, together with other participants, guarantee jointly and severally for up to $5,000,000 (excluding interest and expenses) for any amount outstanding under the Facility Agreement with DNB Bank ASA.”
• “As at 31 December 2024 the company, together with other related parties, jointly and severely guaranteed to repay a debt of its ultimate holding company in the event that timely payments of the loan by the ultimate holding company are not made. The guarantee has a limit of £719,079,000 (2023: £706,936,000) (excluding interest and expenses).”
• “As at 31 December 2024 there was also a duty deferment guarantee amounting to £200,000 (2023: £200,000) issued on behalf of the company.”

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

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +7.2%

  £48,132,000 → £51,603,000

• Cash

  -1.4%

  £4,735,000 → £4,668,000

• Net assets

  +37.7%

  £18,381,000 → £25,302,000

• Employees

  +27.5%

  40 → 51

• Operating profit

  -17.1%

  £20,215,000 → £16,766,000

• Profit before tax

  -8.7%

  £20,748,000 → £18,940,000

• Wages

  -3.3%

  £2,720,000 → £2,629,000

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