RENEWABLE ENERGY SYSTEMS LIMITED
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Next accounts due
2026-07-31 (in 2mo)
Last filed for 2024-10-31
Confirmation statement due
2026-06-28 (in 1mo)
Last made up 2025-06-14
Watchouts
None on the register
Cash
£39M
-71.8% vs 2023
Net assets
£371M
-37.1% vs 2023
Employees
760
+11.3% vs 2023
Profit before tax
-£45M
-306.7% vs 2023
Name history
Renamed 1 time since incorporation
- RENEWABLE ENERGY SYSTEMS LIMITED 1981-11-25 → present
- ABLESPRING LIMITED 1981-10-08 → 1981-11-25
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-10-31
| Metric | Trend | 2023-10-31 | 2024-10-31 |
|---|---|---|---|
| Turnover | £78,942,000 | £97,339,000 | |
| Operating profit | -£22,719,000 | -£49,462,000 | |
| Profit before tax | -£11,184,000 | -£45,484,000 | |
| Net profit | -£11,580,000 | -£45,854,000 | |
| Cash | £138,453,000 | £39,101,000 | |
| Total assets less current liabilities | £597,547,000 | £377,884,000 | |
| Net assets | £589,944,000 | £371,137,000 | |
| Equity | £589,944,000 | £371,137,000 | |
| Average employees | 683 | 760 | |
| Wages | £46,384,000 | £57,086,000 |
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 | 2023-10-31 | 2024-10-31 |
|---|---|---|---|
| Operating margin | -28.8% | -50.8% | |
| Net margin | -14.7% | -47.1% | |
| Return on capital employed | -3.8% | -13.1% | |
| Current ratio | 3.67x | 0.92x | |
| Interest cover | -2.25x | -2.82x |
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
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The directors have considered the Group's cash flow forecast for a minimum of 12 months from the date of signing these financial statements. The directors of the Company are satisfied after appropriate consultation with the directors of the Group, and review of the forecasts and projections, and taking account of reasonable possible changes in trading performance (including taking into account risks and uncertainties such as the impact of uncertain development sales and the impact of recently established U.S. tariffs on imports (such as solar panels and modules sourced externally to the U.S.)) and current funds available, that the Company is able to operate for at least 12 months from the signing of this annual report and financial statements. For this reason the directors believe that the Company has adequate resources to continue in operational existence and therefore it is appropriate that the Company continues to adopt the going concern basis in preparing this annual report and financial statements.”
Group structure
- RENEWABLE ENERGY SYSTEMS LIMITED · parent
- Renewable Energy Centre Limited 100%
- Renewable Energy Group Limited 100%
- Wind Energy Systems Limited 100%
- White Newco B Limited 100%
- RES Australia Pty Limited 100%
- Ingeteam Power Technology SA
- Eşref Enerji Üretim Anonim Şirketi 0%
Significant events
- “The Company demonstrated its growth intentions in support services during the current year by completing the acquisition of the O&M division of Ingeteam Corporacion S.A. ("Ingeteam") a global O&M business headquartered in Albacete, Spain with c.1,800 employees on 1st March 2024.”
- “The decrease in net assets is driven by the loss after tax of £45.8 million and dividends of £176.3 million. The decrease in cash in bank and in hand is primarily driven by the continued investment in acquisitions of £189 million, cash absorbed by operations, which includes investment in a new ERP software of £19.0 million offset by loans repaid by related parties of £42 million and a divestment in corporate bonds of £101 million.”
- “On 1 May 2025, the Company entered into an Intra-group transfer agreement relating to the operations and maintenance ('O&M') business of the Company.”
- “During the year the Company paid an interim dividend of £176,320,000”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 26 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HEARTH, Dominic James | Secretary | 2004-05-10 | — | British |
| BIRKWOOD, Rachael Claire | Director | 2025-07-30 | Sep 1976 | British |
| BRANDT, Henrik Norgaard | Director | 2024-04-30 | Jul 1981 | Danish |
| HEARTH, Dominic James | Director | 2014-12-03 | Feb 1966 | British |
| HUNTER, Ian George | Director | 2019-03-13 | Apr 1984 | British |
| IRVIN, Maria | Director | 2023-04-19 | May 1971 | British |
| MEDINA SANCHEZ, Eduardo | Director | 2021-11-01 | May 1969 | Spanish |
| WHITFORD, Lucy | Director | 2019-03-13 | Oct 1972 | British |
Show 26 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COWEN, Brendon Raymond | Secretary | — | 1998-09-21 |
| O'NEILL, Michael Robert | Secretary | 1997-04-21 | 2004-05-10 |
| ANDERSON, Michael Broughton, Dr | Director | 2003-11-20 | 2016-09-30 |
| ARMITANO, Jean-Marc Gabriel Henri | Director | 2014-06-06 | 2017-07-26 |
| CATTO, Ivor Douglas | Director | 2016-10-07 | 2021-10-31 |
| CHRISTIE, Vincent William | Director | — | 1998-09-21 |
| COOMBS, Michael Andrew | Director | 2006-10-20 | 2010-08-16 |
| COWEN, Brendon Raymond | Director | — | 1998-09-21 |
| HUGHES, Steven William | Director | 2016-05-23 | 2019-11-28 |
| JENKINS, David Stannard | Director | 2006-06-13 | 2009-02-25 |
| JOYCE, Donald Crawford | Director | 2010-12-07 | 2021-12-31 |
| MACDOUGALL, Gordon Alan | Director | 2014-11-19 | 2016-07-29 |
| MARSH, Chris Michael | Director | 2018-01-17 | 2023-04-06 |
| MATACZYNSKI, Craig Allen | Director | 2007-06-25 | 2009-02-25 |
| MAYS, Ian David, Dr | Director | — | 2016-10-31 |
| MCALPINE, Cullum | Director | 1998-09-04 | 2009-02-25 |
| MCALPINE, Gavin Malcolm, Dr | Director | 2005-05-20 | 2017-07-26 |
| MORGAN, Christopher Alec | Director | 2003-11-20 | 2015-10-31 |
| MURPHY, Paula | Director | 2023-07-14 | 2025-06-18 |
| O'NEILL, Michael Robert | Director | 2003-11-20 | 2008-07-01 |
| PICKEN, Ted Richard | Director | 2014-11-19 | 2016-10-31 |
| RUFFLE, Rachel | Director | 2014-11-19 | 2023-07-31 |
| RUSSELL, Richard Paul | Director | 2017-07-26 | 2024-04-30 |
| SHELLEY, Miles Colin | Director | 1998-09-04 | 2014-11-19 |
| WOOLF, Robert Anthony | Director | — | 1998-09-04 |
| WOTHERSPOON, Robert John William | Director | 1997-01-29 | 1998-09-04 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Renewable Energy Systems Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 246 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-18 | CH01 | officers | Change person director company with change date | |
| 2025-07-31 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-19 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-12 | AA | accounts | Accounts with accounts type full | |
| 2024-10-22 | CH01 | officers | Change person director company with change date | |
| 2024-10-16 | CH01 | officers | Change person director company with change date | |
| 2024-07-23 | AA | accounts | Accounts with accounts type full | |
| 2024-07-09 | CH01 | officers | Change person director company with change date | |
| 2024-06-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-05-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-02 | AP01 | officers | Appoint person director company with name date | |
| 2023-11-20 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-07-31 | TM01 | officers | Termination director company with name termination date | |
| 2023-07-14 | AP01 | officers | Appoint person director company with name date | |
| 2023-06-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-05-24 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-04-22 | AA | accounts | Accounts with accounts type full | |
| 2023-04-20 | TM01 | officers | Termination director company with name termination date | |
| 2023-04-19 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- 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 2024-10-31 vs 2023-10-31
-
Turnover
+23.3%
£78,942,000 £97,339,000
-
Cash
-71.8%
£138,453,000 £39,101,000
-
Net assets
-37.1%
£589,944,000 £371,137,000
-
Employees
+11.3%
683 760
-
Operating profit
-117.7%
-£22,719,000 -£49,462,000
-
Profit before tax
-306.7%
-£11,184,000 -£45,484,000
-
Wages
+23.1%
£46,384,000 £57,086,000
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