DRAX CORPORATE LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-10-28 (in 5mo)
Last made up 2025-10-14
Watchouts
None on the register
Cash
£278M
-5.5% vs 2023
Net assets
£503M
-28.7% vs 2023
Employees
777
+21.8% vs 2023
Profit before tax
£245M
+203.8% vs 2023
Name history
Renamed 1 time since incorporation
- DRAX CORPORATE LIMITED 2017-04-05 → present
- DRAX FINANCE LIMITED 2005-09-13 → 2017-04-05
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £152,300,000 | £141,600,000 | |
| Operating profit | -£221,200,000 | -£116,600,000 | |
| Profit before tax | -£236,100,000 | £245,100,000 | |
| Net profit | -£211,400,000 | £285,200,000 | |
| Cash | £294,300,000 | £278,200,000 | |
| Total assets less current liabilities | £1,923,000,000 | £1,598,100,000 | |
| Net assets | £705,900,000 | £503,400,000 | |
| Equity | £705,900,000 | £503,400,000 | |
| Average employees | 638 | 777 | |
| Wages | £70,200,000 | £76,000,000 |
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 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -145.2% | -82.3% | |
| Net margin | -138.8% | 201.4% | |
| Return on capital employed | -11.5% | -7.3% | |
| Current ratio | 0.63x | 0.36x | |
| Interest cover | -1.64x | -0.71x |
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
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Noting the written confirmation of Group support to help the Company honour its liabilities as they fall due, the Directors have assessed the ability of the Group to support when required and have a reasonable expectation that the Company has adequate resources to continue in operational existence for the 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- DRAX CORPORATE LIMITED · parent
- Drax Asia (Japan) K.K. 100%
- Drax Holdings Limited 100%
- Drax Research and Innovation Holdco Limited 100%
- Drax Smart Generation Holdco Limited 100%
- Drax Smart Sourcing Holdco Limited 100%
- Drax Smart Supply Holdco Limited 100%
- Pinnacle Renewable Energy Inc. 100%
Significant events
- “During 2024, the Company refinanced a number of existing facilities to extend the average debt maturity profile. The total borrowings in the Company increased £70.3 million to £768.2 million (2023: £697.9 million).”
- “During April 2024, the Company repaid the intra-Group lending in respect of the USD $500.0 million loan notes, which enabled the Group to redeem the $500.0 million loan notes early. During May 2024, another Group company also issued €350.0 million euro (EUR) denominated senior secured notes, with a 2029 maturity date.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 20 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DUNN, Rebecca | Secretary | 2026-03-19 | — | — |
| GARDINER, Dwight Daniel Willard | Director | 2016-01-01 | Jun 1964 | British,American |
| LEMMINK, Frank Hendrikus | Director | 2025-10-03 | Apr 1968 | Dutch |
| PEACOCK, Daniel Andrew | Director | 2026-03-19 | Mar 1979 | British |
| SHEFFIELD, Paul Nathan | Director | 2021-10-27 | Feb 1975 | British |
Show 20 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GLADDEN, Brett | Secretary | 2019-02-01 | 2025-12-05 |
| HUDSON, Philip John | Secretary | 2007-05-15 | 2016-06-30 |
| MCCALLUM, David | Secretary | 2016-07-01 | 2019-01-31 |
| ROTHWELL, Peter Jeffrey | Secretary | 2005-10-20 | 2007-05-15 |
| NOROSE COMPANY SECRETARIAL SERVICES LIMITED | Corporate Secretary | 2005-09-13 | 2005-10-20 |
| THE COMPANY REGISTRATION AGENTS LIMITED | Corporate Nominee Secretary | 2005-09-13 | 2005-09-13 |
| BARKER, Timothy Gwynne | Director | 2005-10-20 | 2006-01-16 |
| BOYD, Gordon Alexander | Director | 2005-10-20 | 2008-08-31 |
| EMERY, Peter Richard | Director | 2005-10-20 | 2015-12-31 |
| GRASBY, Patrick Michael | Director | 2005-10-20 | 2006-01-16 |
| HORSFIELD, Gordon Christopher | Director | 2005-10-20 | 2006-09-18 |
| KOSS, Andrew Robert | Director | 2016-01-01 | 2020-04-07 |
| QUINLAN, Anthony James | Director | 2008-09-01 | 2015-05-31 |
| SCOTT, Michael Iain | Director | 2014-10-21 | 2015-12-31 |
| SKELTON, Andrew Keith | Director | 2019-06-13 | 2025-10-03 |
| TAYLOR, Paul | Director | 2011-12-09 | 2015-12-31 |
| THOMPSON, Dorothy Carrington | Director | 2005-10-20 | 2014-10-21 |
| LUCIENE JAMES LIMITED | Corporate Director | 2005-09-13 | 2005-09-13 |
| NOROSE COMPANY SECRETARIAL SERVICES LIMITED | Corporate Director | 2005-09-13 | 2005-10-20 |
| NORTON ROSE LIMITED | Corporate Director | 2005-09-13 | 2005-10-20 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Drax Group Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors, Significant influence | 2016-04-06 | Active |
Filing timeline
Last 20 of 175 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-23 | AP03 | officers | Appoint person secretary company with name date | |
| 2026-03-23 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-23 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-18 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-10-27 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-10 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-10 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-10 | AA | accounts | Accounts with accounts type full | |
| 2024-11-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-08-22 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-07-23 | AA | accounts | Accounts with accounts type full | |
| 2024-05-03 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-04-08 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-02-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-11-06 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2023-10-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-19 | AA | accounts | Accounts with accounts type full | |
| 2022-12-20 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2022-10-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-20 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 0
- 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
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-7%
£152,300,000 £141,600,000
-
Cash
-5.5%
£294,300,000 £278,200,000
-
Net assets
-28.7%
£705,900,000 £503,400,000
-
Employees
+21.8%
638 777
-
Operating profit
+47.3%
-£221,200,000 -£116,600,000
-
Profit before tax
+203.8%
-£236,100,000 £245,100,000
-
Wages
+8.3%
£70,200,000 £76,000,000
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