FORTREA CLINICAL RESEARCH UNIT LIMITED

1. FORTREA CLINICAL RESEARCH UNIT LIMITED 2023-04-28 → present
2. LABCORP CLINICAL RESEARCH UNIT LIMITED 2021-06-25 → 2023-04-28
3. COVANCE CLINICAL RESEARCH UNIT LIMITED 1996-11-04 → 2021-06-25
4. CORNING BESSELAAR CRU LIMITED 1995-04-10 → 1996-11-04
5. GH BESSELAAR ASSOCIATES CRU LIMITED 1992-07-30 → 1995-04-10
6. GHBA 1991-10-17 → 1992-07-30

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

Consolidated group

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company has made a profit after tax and before, other comprehensive income of £1,759k (2023 - £12,848k) and the Statement of Financial Position shows net current assets of £26,172k (2023 - £71,466k); shareholder's funds of £35,242k (2023 - £82,030k) and cash balances of £4,921k (2022 -£2,229k). At the time of approving the financial statements, the Company is in a net asset position, and the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. Management are therefore confident in the ability of the Company continuing as a going concern.”

Significant events

• “The Company's 2024 performance was impacted by two key factors: the transition to our new facility at Drapers Yard and delays related to Medicines and Healthcare Products Regulatory Agency (MHRA) timelines.”
• “The loan with Fortrea Inc. was fully repaid during the year, and interest income contributed to a pre-tax profit of £13.2m.”
• “Shareholder's funds at the year-end decreased to £35.2m (2023 - £82.0m). ... The decrease in amounts owed by group undertakings is primarily driven by the £49.4m dividend declared during the year.”
• “As operations stabilise following the spin-off, the Company plans to bring currently outsourced safety lab activities back in-house to improve efficiency and enhance margins.”
• “In 2024, Fortrea has officially committed to the Science Based Targets initiative (SBTI), a corporate climate action organization that enables companies and financial institutions to set greenhouse gas (GHG) emission reduction targets.”

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

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

  -5.9%

  £63,143,000 → £59,444,000

• Cash

  +120.8%

  £2,229,000 → £4,921,000

• Net assets

  -57%

  £82,030,000 → £35,242,000

• Employees

  -2.8%

  363 → 353

• Operating profit

  -22.7%

  £16,185,000 → £12,503,000

• Profit before tax

  -26.9%

  £18,137,000 → £13,264,000

• Wages

  +4.1%

  £19,797,000 → £20,617,000

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