MTI WELDING TECHNOLOGIES LTD

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

Consolidated group

Auditor

MHA Audit Services LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on the going concern basis which the directors believe to be appropriate for the following reasons. Despite the delayed completion of a large friction welding contract the company and group have strong cash and net asset levels at 31 December 2024 and no external bank borrowings. Due to these challenges and the existence of a long-term loan from the US parent company, the company and group is dependent for its working capital on funds provided to it by Manufacturing Technologies Inc., the group's ultimate parent undertaking. Manufacturing Technologies Inc., has provided the company and group with an undertaking that for at least 12 months from the date of approval of these financial statements, it will continue to make available such funds as are needed by the company and group and will not seek repayment of the amounts currently made available. This should enable the company and group to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment.”

Group structure

1. MTI WELDING TECHNOLOGIES LTD · parent
   1. Federal Resistance Limited 100% · UK · Dormant
   2. Prospot Limited 100% · UK · Manufacturing of friction and resistance welding machinery
   3. Prospot SK, LLC 100% · Slovakia · Manufacturing of friction and resistance welding machinery

Significant events

• “Turnover increased by 11% due to a number of factors with a strong year in the Resistance Welding entities and the completion of a large rebuild contract for a Rotary Friction Aerospace customer.”
• “Profit for the year increased slightly in the year to £155,972, with Rotary Friction Welding fixed price contracts seeing the overall margins remain constant at 27.9%.”
• “The Group expect the markets in 2025 to continue to be steady and at times slow but feel with increased product lines and further sales investment that they will continue to maintain a healthy sales backlog.”
• “The group has strong order books for resistance welding as we enter 2025 and beyond.”
• “The friction welding business continues to look to take advantage of the FWT acquisition and push to supply a more competitive product in the market place.”
• “The Friction welding entity made two key personnel acquisitions bringing significant product experience into both its engineering and sales departments further strengthening the group's position to compete effectively in the friction welding market.”
• “The group continues to invest in new technologies, developing opportunities in the Low Force Friction Welding market and looking to re-establish itself as a prominent supplier of Friction Stir Welding Technology.”
• “This will help the business to continue to grow its product offering in the electric/hybrid powertrain markets.”

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

  +10.7%

  £15,952,388 → £17,656,540

• Cash

  +3%

  £3,537,788 → £3,644,975

• Net assets

  +4.5%

  £2,869,731 → £2,999,106

• Employees

  -5.1%

  99 → 94

• Operating profit

  +510.4%

  £114,620 → £699,664

• Profit before tax

  +150.6%

  -£110,197 → £55,729

• Wages

  -11.6%

  £3,347,056 → £2,959,630

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