JOHNSON MATTHEY HYDROGEN TECHNOLOGIES LIMITED

1. JOHNSON MATTHEY HYDROGEN TECHNOLOGIES LIMITED 2022-04-01 → present
2. JOHNSON MATTHEY FUEL CELLS LIMITED 2002-03-12 → 2022-04-01

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

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Notwithstanding net liabilities of £428,543,000 as at 31 March 2025 and a loss for the financial year then ended of £164,184,000, the accounts have been prepared on a going concern basis which the directors consider to be appropriate. The directors have prepared a cash flow forecast for a period of 12 months from the date of approval of these accounts which indicates that, taking account of reasonably possible downsides, the company will have sufficient funds, through its overdraft facility and funding from its ultimate parent company, Johnson Matthey Plc, to meet its liabilities as they fall due for that period. Those forecasts are dependent on Johnson Matthey Plc not seeking repayment of the loan amounts currently due to the group, which at 31 March 2025 amounted to £566,953,000. Johnson Matthey Plc has indicated its intention to continue to make available such funds as are needed by the company through a letter of support, and that it does not intend to seek repayment of the amounts due at the balance sheet date, for the period of at least 12 months from the date the financial statements are approved and signed. Thus, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.”

Group structure

1. JOHNSON MATTHEY HYDROGEN TECHNOLOGIES LIMITED · parent
   1. Johnson Matthey Fuel Cells Japan Limited 100% · Japan

Significant events

• “In the year ended 31 March 2024, assets related to the Runcorn facility were impaired. At 31 March 2024 the business had received an offer to buy the assets and lease for £900,000. The assets were impaired by £5,738,000 to £900,000 to reflect the fair value less costs to sell upon classification as "held for sale". On 1 August 2024 the sale was completed with £900,000 proceeds paid to the company resulting in no gain or loss on disposal.”

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

1

last 12 months

Officers resigned

2

last 12 months

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

• Turnover

  -23.3%

  £72,766,000 → £55,789,000

• Cash

  —

  Not reported

• Net assets

  -62.1%

  -£264,295,000 → -£428,543,000

• Employees

  -17.4%

  535 → 442

• Operating profit

  -164.5%

  -£60,276,000 → -£159,424,000

• Profit before tax

  -132.9%

  -£81,804,000 → -£190,562,000

• Wages

  -19.7%

  £30,573,000 → £24,535,000

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