BAXI HEATING UK LIMITED

1. BAXI HEATING UK LIMITED 2002-10-11 → present
2. BAXI HEATING LIMITED 1999-12-07 → 2002-10-11
3. BAXI GOLD LIMITED 1999-11-12 → 1999-12-07

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

Affirmed

“Based on the Company's cashflow forecasts and future profit projections, which makes assumptions about trading, the market, inflation and other operational impacts as detailed in the Strategic report, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future, despite the uncertainties of the current economic environment. The directors have considered a severe but plausible change in trading and the resulting impact upon the Company's forecasts and projections, which show the company would still be able to continue to operate. Thus, the directors continue to adopt the going concern basis in preparing the annual report and financial statements.”

Group structure

1. BAXI HEATING UK LIMITED · parent
   1. BDR Thermea Ireland Limited 100% · Republic of Ireland · Distribution
   2. Packaged Plant Solutions Limited 100% · Dormant - in liquidation

Significant events

• “The year saw a continuation of a significant market downturn, with the UK Residential boiler market down by approximately 10% compared to the previous year reflecting an ongoing period of low consumer economic confidence.”
• “Following consultation throughout 2023, the UK Government confirmed in November 2023 that they would be introducing a Clean Heat Market Mechanism (CHMM) in 2024. In March 2024, the UK Government announced the start of the CHMM would be delayed by one year, which was confirmed following closure of a consultation in May 2024. In November 2024 the new Labour Government announced their version of CHMM, which will come into effect from April 2025.”
• “In October 2024, the Group launched 'Strategy 2030: Focus, Transform, Reform', which set out where BDR Thermea Group will be by 2030 and how it will get there.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

2

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

  -6.7%

  £347,897,000 → £324,562,000

• Cash

  -34.5%

  £54,358,000 → £35,586,000

• Net assets

  +8.6%

  £552,490,000 → £600,218,000

• Employees

  +0.2%

  1,280 → 1,282

• Operating profit

  -6%

  £41,600,000 → £39,118,000

• Profit before tax

  +9.8%

  £68,057,000 → £74,729,000

• Wages

  +3.3%

  £50,398,000 → £52,046,000

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