GLEDHILL BUILDING PRODUCTS LIMITED

1. GLEDHILL BUILDING PRODUCTS LIMITED 2003-09-03 → present
2. HALLCO 906 LIMITED 2003-06-02 → 2003-09-03

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

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. As at 31 December, the company had net assets of £933,000 (2023: £1,322,000), net current liabilities of £373,000 (2023: net current assets of £610,000) and generated a loss after tax of £520,000 (2023: £283,000). The company has no external debt. The Company is part of the group headed up by Atlantic Société Française de Développement Thermique (the ultimate parent company), a French unlisted company. The Group has considerable financial resources and continues to trade profitably. All Company cash balances are pooled with the ultimate parent company on a regular basis and are not held in the individual companies. They are available to be drawn down to meet its liabilities as they fall due. The Directors have received a letter of support from the ultimate parent company confirming that it will continue to provide financial support for the foreseeable future, up to and including 30 September 2026. Based on this confirmation, and after reviewing the financial forecasts, the Directors have a reasonable expectation, under both the base case and severe but plausible downside scenarios, that the company will turn profitable and generate sufficient cash flows in order to meet its liabilities as they fall due. Therefore the Directors have concluded that the company will have the ability to continue as a going concern throughout the going concern assessment period up to and including 30 September 2026. Based on this, the Directors have concluded it is appropriate for the financial statements to prepared on a going concern basis.”

Significant events

• “Turnover for the year was £43,879,000, a 9.5% increase on prior year and reflects the Company's continuing growth within a buoyant cylinder market, increasing market share during the period.”
• “Operating margin improved on prior year due to successfully implementing a price increase in the year which helped to offset the sharp increase in commodity prices and energy costs.”
• “The loss for the year increased on prior year due to the large deferred tax charge in the current year.”
• “In addition, the Company continues to invest significant funds into its infrastructure, people and new product developments to position the business to take advantage of the growing cylinder market as the transition of the UK heating markets to decarbonised products such as heat pumps continues.”
• “No dividends will be distributed for the year ended 31 December 2024.”
• “Research and development costs of £216,000 have been incurred in the period (2023: £144,000).”

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

Filings

2

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

  +9.5%

  £40,078,000 → £43,879,000

• Cash

  —

  Not reported

• Net assets

  -39.3%

  £1,322,000 → £802,000

• Employees

  +4.4%

  227 → 237

• Operating profit

  +179.3%

  -£174,000 → £138,000

• Profit before tax

  +54.2%

  -£413,000 → -£189,000

• Wages

  +5.9%

  £6,877,000 → £7,280,000

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