ITM POWER PLC
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Next accounts due
2026-10-31 (in 5mo)
Last filed for 2025-04-30
Confirmation statement due
2027-03-15 (in 10mo)
Last made up 2026-03-01
Watchouts
None on the register
Cash
£207M
-10.1% vs 2024
Net assets
£225M
-19.1% vs 2024
Employees
374
+92.8% vs 2024
Profit before tax
-£62M
-40,916.7% vs 2024
Name history
Renamed 1 time since incorporation
- ITM POWER PLC 2004-05-04 → present
- QUAYSHELFCO 1070 PLC 2004-03-01 → 2004-05-04
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-04-30
| Metric | Trend | 2024-04-30 | 2025-04-30 |
|---|---|---|---|
| Turnover | £16,113,000 | £26,040,000 | |
| Operating profit | -£10,882,000 | -£70,688,000 | |
| Profit before tax | -£150,000 | -£61,525,000 | |
| Net profit | -£317,000 | -£61,675,000 | |
| Cash | £230,348,000 | £207,041,000 | |
| Total assets less current liabilities | £359,790,000 | £320,661,000 | |
| Net assets | £277,594,000 | £224,539,000 | |
| Equity | £277,594,000 | £224,539,000 | |
| Average employees | 194 | 374 | |
| Wages | £9,280,000 | £10,796,000 |
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 | 2024-04-30 | 2025-04-30 |
|---|---|---|---|
| Operating margin | -67.5% | -271.5% | |
| Net margin | -2.0% | -236.8% | |
| Return on capital employed | -3.0% | -22.0% | |
| Gearing (liabilities / total assets) | 26.5% | 32.8% | |
| Current ratio | 18.09x | 21.35x | |
| Interest cover | -12.91x | -71.76x |
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
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have prepared a cash flow forecast for the period from the balance sheet date until 30 September 2026. This forecast indicates that the Group would expect to retain significant cash reserves. This should give the business sufficient funds to trade for the foreseeable future. The business continues in a forecasted cash outflow position, using funding generated from previous fundraises.”
Group structure
- ITM POWER PLC · parent
- Hydropulse GmbH 100%
- ITM Power (Ireland) Limited 100%
- ITM Power Germany GmbH 100%
- ITM Power US, Inc. 100%
- ITM Power Pty Ltd 100%
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 31 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| QUAYLE, Huan George | Secretary | 2024-02-19 | — | — |
| BOURNE, Simon, Dr | Director | 2009-11-23 | May 1975 | British |
| EAST, David Warren Arthur | Director | 2025-10-08 | Oct 1961 | British |
| GREEN, Martin Richard | Director | 2019-09-16 | Aug 1966 | British |
| GREY, Amy Elizabeth | Director | 2025-01-06 | Aug 1977 | British |
| HOWARTH, John Paul Patrick | Director | 2025-10-08 | Dec 1977 | British |
| NOWICKI, Juergen | Director | 2026-01-15 | Jan 1964 | German |
| PLOTHO, Matthias Von | Director | 2025-01-15 | Jun 1969 | German |
| SCHULZ, Dennis | Director | 2022-12-01 | Jul 1982 | German |
Show 31 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ALLEN, Andrew Charles | Secretary | 2022-09-30 | 2022-11-24 |
| ALLEN, Andrew Charles | Secretary | 2014-03-25 | 2019-09-16 |
| BAKER, Helen Alice | Secretary | 2021-10-25 | 2022-09-30 |
| CUNLIFFE, Barry Stuart | Secretary | 2010-02-04 | 2014-01-16 |
| HAM EDMONDS, Nicola | Secretary | 2019-09-16 | 2021-10-25 |
| HARGREAVES, Peter | Secretary | 2009-09-24 | 2010-02-04 |
| JACKSON, Brian | Secretary | 2014-01-16 | 2014-03-25 |
| SCOTT, Marcus John | Secretary | 2005-12-16 | 2009-09-24 |
| WILLIAMS, Victoria Elizabeth | Secretary | 2022-11-24 | 2024-02-19 |
| WREFORD, John Alan David | Secretary | 2004-04-14 | 2005-12-16 |
| NQH (CO SEC) LIMITED | Corporate Secretary | 2004-03-01 | 2004-04-14 |
| ALLEN, Andrew Charles | Director | 2018-05-21 | 2025-01-06 |
| BONE, Roger Bridgland, Sir | Director | 2014-06-03 | 2026-01-15 |
| COCKREM, Denise Patricia | Director | 2022-07-25 | 2025-10-08 |
| COOLEY, Graham Edward, Dr | Director | 2009-06-29 | 2022-12-01 |
| FREEMAN, Roger Norman | Director | 2010-10-01 | 2019-10-03 |
| HARGREAVES, Peter Kendal | Director | 2004-04-14 | 2017-10-31 |
| HEATHCOTE, Francis James | Director | 2004-04-14 | 2009-02-20 |
| HIGHGATE, Donald James, Dr | Director | 2004-04-14 | 2009-11-23 |
| LLOYD, Jonathan Anthony, Dr | Director | 2004-03-01 | 2008-04-24 |
| MASSEY, Stephen Leigh | Director | 2004-04-14 | 2008-01-01 |
| NOWICKI, Juergen | Director | 2019-11-01 | 2025-01-15 |
| PENDLEBURY, Robert Michael | Director | 2015-06-04 | 2020-07-31 |
| PUTNAM, Roger George, Professor | Director | 2006-05-15 | 2019-10-31 |
| RAE, Tom Reid | Director | 2020-12-03 | 2021-11-16 |
| ROE, Katherine Louise Margiad | Director | 2020-05-06 | 2023-09-29 |
| SMITH, Rachel Louise, Dr | Director | 2015-09-16 | 2023-01-30 |
| SMITH, Rachel, Dr | Director | 2015-09-10 | 2015-09-16 |
| STEELE, Charles Gervas Adrian | Director | 2004-04-14 | 2005-08-25 |
| WALKER, Peter Edward, The Rt Hon The Lord Walker Of Worcester | Director | 2004-06-25 | 2010-06-23 |
| WREFORD, John Alan David | Director | 2004-03-01 | 2006-01-31 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 245 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-02-21 RESOLUTIONS Resolution
- 2024-10-20 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-14 | SH01 | capital | Capital allotment shares | |
| 2026-03-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-02-21 | RESOLUTIONS | resolution | Resolution | |
| 2026-01-26 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-26 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-24 | AA | accounts | Accounts with accounts type group | |
| 2025-10-22 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-10-22 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-10-20 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-10 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-10 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-10 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-15 | CH01 | officers | Change person director company with change date | |
| 2025-03-13 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-02-13 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-08 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-08 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-20 | RESOLUTIONS | resolution | Resolution | |
| 2024-10-18 | AA | accounts | Accounts with accounts type group | |
| 2024-07-15 | RP04SH01 | capital | Second filing capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 13
- Capital events
- 2
- Officers appointed
- 3
- Officers resigned
- 2
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
FY2024 → FY2025 · period ending 2025-04-30 vs 2024-04-30
-
Turnover
+61.6%
£16,113,000 £26,040,000
-
Cash
-10.1%
£230,348,000 £207,041,000
-
Net assets
-19.1%
£277,594,000 £224,539,000
-
Employees
+92.8%
194 374
-
Operating profit
-549.6%
-£10,882,000 -£70,688,000
-
Profit before tax
-40,916.7%
-£150,000 -£61,525,000
-
Wages
+16.3%
£9,280,000 £10,796,000
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