ADEY INNOVATION LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-01-17 (in 8mo)
Last made up 2026-01-03
Watchouts
None on the register
Cash
£3M
+1.1% vs 2023
Net assets
£92M
+7.7% vs 2023
Employees
152
-6.7% vs 2023
Profit before tax
£8M
+54.8% vs 2023
Name history
Renamed 1 time since incorporation
- ADEY INNOVATION LIMITED 2017-12-18 → present
- ADEY LTD 2003-12-22 → 2017-12-18
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £41,976,000 | £39,580,000 | |
| Operating profit | £5,370,000 | £7,075,000 | |
| Profit before tax | £5,428,000 | £8,400,000 | |
| Net profit | £3,185,000 | £6,616,000 | |
| Cash | £3,102,000 | £3,135,000 | |
| Total assets less current liabilities | £90,161,000 | £96,277,000 | |
| Net assets | £85,654,000 | £92,270,000 | |
| Equity | — | — | |
| Average employees | 163 | 152 | |
| Wages | — | — |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 12.8% | 17.9% | |
| Net margin | 7.6% | 16.7% | |
| Return on capital employed | 6.0% | 7.3% | |
| Gearing (liabilities / total assets) | 25.2% | 23.7% | |
| Current ratio | 0.91x | 0.69x | |
| Interest cover | 64.70x | 102.54x |
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 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company continues to meet its day-to-day working capital and other funding requirements through a combination of cash generated from operations, cash deposits and long-term funding from the Group as required. As the Company is reliant on the continued support of the Group, due to the way the intra-group funding structure is managed, the Directors have obtained a letter of support from the ultimate parent company, Genuit Group plc, stating that it is their intention to provide financial support for the going concern period up to 31 December 2026.”
Group structure
- ADEY INNOVATION LIMITED · parent
- Adey Commercial Limited 100%
- Adey Innovation LLC 100%
- Adey Innovation SAS 100%
- Adey Innovation (Shanghai) Water Treatment Technology Co. Ltd 100%
- Alpha Scientific Ltd 100%
Significant events
- “During the year, an exercise was undertaken by the Group to recognise interest on intercompany loans. As a result, an interest receivable from group undertakings of £1,322k has been recognised in the Income Statement.”
- “The Company's profit for the year before taxation was £8.4m compared to £5.4m in the prior year. The increase in profit was driven by a number of initiatives delivered by the business during the year.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 18 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| VERSLUYS, Emma Gayle | Secretary | 2021-02-10 | — | — |
| PULLEN, Timothy Neil | Director | 2023-11-01 | Nov 1977 | British |
| VORIH, Joseph Michael | Director | 2022-02-28 | Jul 1967 | American |
Show 18 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ADEY, Andrea Nicola | Secretary | 2003-12-22 | 2016-06-06 |
| SWIFT INCORPORATIONS LIMITED | Corporate Nominee Secretary | 2003-12-22 | 2003-12-22 |
| ADEY, Andrea Nicola | Director | 2007-11-01 | 2016-06-06 |
| ADEY, Christopher John | Director | 2003-12-22 | 2016-06-06 |
| BARNES, Stewart | Director | 2009-11-20 | 2012-03-20 |
| BROWN, Dean | Director | 2016-06-06 | 2021-02-10 |
| DAVIES, Edward Arthur | Director | 2016-06-06 | 2019-10-16 |
| DAVIES, Edward Arthur | Director | 2010-12-14 | 2013-10-07 |
| HOWARD, Rebekah Louise | Director | 2010-01-27 | 2013-10-07 |
| JAMES, Paul Anthony | Director | 2021-02-10 | 2023-09-30 |
| MEAD, Haimish Mccoll | Director | 2010-01-27 | 2013-10-07 |
| PAYNE, Martin Keith | Director | 2021-02-10 | 2022-02-28 |
| SADLER, Philip | Director | 2010-01-27 | 2011-04-04 |
| STEVENS, Kelvin Eugene | Director | 2011-09-01 | 2013-10-07 |
| STRUDLEY, Paul | Director | 2012-04-01 | 2013-10-07 |
| VAUGHAN, John David | Director | 2019-10-23 | 2020-04-15 |
| WEBBER, Matthew William David | Director | 2019-10-23 | 2021-02-10 |
| WILLIAMS, Roger Thomas | Director | 2010-01-27 | 2012-01-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Adey Holdings (2008) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 119 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-02 | AA | accounts | Accounts with accounts type full | |
| 2025-01-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-21 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-06-04 | AA | accounts | Accounts with accounts type full | |
| 2024-01-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-02 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-10 | AA | accounts | Accounts with accounts type full | |
| 2023-10-03 | TM01 | officers | Termination director company with name termination date | |
| 2023-01-04 | AA | accounts | Accounts with accounts type full | |
| 2023-01-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-12 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2022-08-23 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-07-13 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-03-01 | TM01 | officers | Termination director company with name termination date | |
| 2022-02-28 | AP01 | officers | Appoint person director company with name date | |
| 2021-12-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-12-08 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2021-10-05 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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 2024-12-31 vs 2023-12-31
-
Turnover
-5.7%
£41,976,000 £39,580,000
-
Cash
+1.1%
£3,102,000 £3,135,000
-
Net assets
+7.7%
£85,654,000 £92,270,000
-
Employees
-6.7%
163 152
-
Operating profit
+31.8%
£5,370,000 £7,075,000
-
Profit before tax
+54.8%
£5,428,000 £8,400,000
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