VELOCYS LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-03-02 (in 10mo)
Last made up 2026-02-16
Watchouts
None on the register
Cash
£4M
+149.3% vs 2023
Net assets
-£10M
-290.3% vs 2023
Employees
54
+31.7% vs 2023
Profit before tax
-£31M
-82.4% vs 2023
Name history
Renamed 3 times since incorporation — the current trading name was adopted 2024-12-09
- VELOCYS LIMITED 2024-12-09 → present
- VELOCYS PLC 2013-09-24 → 2024-12-09
- OXFORD CATALYSTS GROUP PLC 2006-04-12 → 2013-09-24
- PIMCO 2445 LIMITED 2006-02-16 → 2006-04-12
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 | £61,000 | £158,000 | |
| Operating profit | -£14,978,000 | -£30,479,000 | |
| Profit before tax | -£17,198,000 | -£31,374,000 | |
| Net profit | -£16,564,000 | -£30,713,000 | |
| Cash | £1,423,000 | £3,547,000 | |
| Total assets less current liabilities | £20,057,000 | -£5,303,000 | |
| Net assets | £5,088,000 | -£9,683,000 | |
| Equity | £5,088,000 | -£9,683,000 | |
| Average employees | 41 | 54 | |
| Wages | £6,974,000 | £5,784,000 |
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 | -24554.1% | -19290.5% | |
| Net margin | -27154.1% | -19438.6% | |
| Return on capital employed | -74.7% | 574.8% | |
| Gearing (liabilities / total assets) | 81.6% | 153.3% | |
| Current ratio | 0.98x | 0.27x | |
| Interest cover | -6.61x | -20.31x |
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
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Under both the base case and a severe but plausible downside scenario, the Company has sufficient resources to continue in operation for a period of at least twelve months from the date of approval of these financial statements Taking account of the matters described above, the Directors are confident that the Company and the parent company will have sufficient funds to continue to meet their liabilities as they fall due for at least twelve months from the date of approval of these financial statements and therefore have prepared the financial statements on a going concern basis”
Group structure
- VELOCYS LIMITED · parent
- Velocys Technologies Limited 100%
- Velocys (USA Holdings) LLC 100%
- Altalto Ltd 100%
- Velocys Projects Ltd 100%
- Velocys, Inc 100%
- VMH Assets LLC 100%
- Altalto Immingham Holdings Ltd 100%
- Altalto Immingham Ltd 100%
- Oxford Catalysts UK Limited 100%
- Oxford Catalysts Trustees Limited 100%
- Velocys Project Solutions, LLC 100%
- YellowRock GTL Services, LLC 100%
- Ashtabula Energy, LLC 100%
- JAB Land-Ashtabula LLC 100%
- Westlake GTL, LLC 100%
- Taeda Holdings LLC 100%
- Taeda (Natchez) Holdings LLC 100%
- Bayou Fuels LLC 100%
Significant events
- “On 17 January 2024, the Company was acquired by Madison by way of a Court-sanctioned Scheme of Arrangement under Part 26 of the Companies Act 2006.”
- “On 9 December 2024, the Company re-registered from a public company to a private company and as a result changed its name from Velocys plc to Velocys Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 33 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BONE, Kevin Alan | Director | 2024-01-17 | May 1970 | British |
| DIENSTAG, Joshua Samuel | Director | 2024-01-17 | Jul 1980 | American |
| ONG, Sei Wei | Director | 2025-09-01 | Apr 1977 | Singaporean |
| VIERGUTZ, Matthew | Director | 2025-02-12 | Jan 1975 | American |
Show 33 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BARNES, Paul Martin | Secretary | 2006-03-29 | 2007-12-28 |
| BATE, David | Secretary | 2024-07-17 | 2025-01-19 |
| GORMAN, Jeremy Philip | Secretary | 2015-09-29 | 2024-07-17 |
| ROBERTSON, Susan Mary | Secretary | 2007-12-28 | 2015-09-29 |
| PINSENT MASONS SECRETARIAL LIMITED | Corporate Secretary | 2006-02-16 | 2006-03-29 |
| ALLONBY, Ross Wilson | Director | 2015-12-08 | 2017-06-15 |
| BARNES, Paul Martin | Director | 2006-03-29 | 2007-12-28 |
| BARTON, William, Dr | Director | 2006-03-29 | 2008-05-14 |
| CHATTERJI, Mark Andrew | Director | 2015-09-29 | 2017-04-25 |
| GREEN, Malcolm Leslie Hodder, Professor | Director | 2006-03-29 | 2008-05-14 |
| HOLLAND, Philip Malcolm | Director | 2019-01-01 | 2024-01-17 |
| JAMIESON, Andrew, Dr | Director | 2010-02-01 | 2015-11-21 |
| JUNGELS, Pierre Jean Marie Henri, Dr | Director | 2006-03-29 | 2019-12-09 |
| LIEW, May | Director | 2024-01-17 | 2024-08-08 |
| LIPSKI, Roy | Director | 2006-03-29 | 2015-08-11 |
| MARKEY, Ann | Director | 2021-07-26 | 2024-01-17 |
| MESSEM, Darran Keith | Director | 2019-01-01 | 2024-01-17 |
| MORRIS, Andrew James Sinclair | Director | 2017-06-01 | 2022-06-21 |
| NAYLOR, Andrew James, Doctor | Director | 2006-03-29 | 2007-05-14 |
| PUMMELL, David William | Director | 2016-01-06 | 2018-12-03 |
| QUIGLEY, Thomas Kelly | Director | 2021-07-26 | 2024-01-17 |
| ROBERTSON, Susan Mary | Director | 2008-05-14 | 2017-07-21 |
| SANDERSON, Philip Thomas Edward | Director | 2024-12-03 | 2025-02-12 |
| SANDERSON, Philip Thomas Edward | Director | 2022-06-22 | 2024-01-17 |
| SCHUBERT, Paul Frederick, Dr | Director | 2013-07-01 | 2018-12-04 |
| SCUDAMORE, Jeremy Paul | Director | 2007-03-01 | 2011-08-29 |
| SHAW, Sandra Nan Demby | Director | 2012-10-01 | 2021-09-30 |
| TAN, Kimberly | Director | 2024-08-08 | 2025-09-01 |
| VERLOOP, Jan, Dr Ir | Director | 2006-03-29 | 2016-09-20 |
| WAREBORN, Henrik Sven Gunnar | Director | 2018-11-13 | 2024-11-27 |
| WEST, Julian Daniel | Director | 2013-07-01 | 2018-02-06 |
| XIAO, Tiancun, Dr | Director | 2006-03-29 | 2008-05-14 |
| PINSENT MASONS DIRECTOR LIMITED | Corporate Director | 2006-02-16 | 2006-03-29 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Madison Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-01-17 | Active |
| Demetris Ioannides | Individual | significant-influence-or-control-as-trust | 2017-07-24 | Ceased 2018-08-10 |
| Tatyana Haykin | Individual | significant-influence-or-control-as-trust | 2017-07-24 | Ceased 2018-08-10 |
| David Davidovich | Individual | significant-influence-or-control-as-trust | 2017-07-24 | Ceased 2018-08-10 |
Filing timeline
Last 20 of 345 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-09 CERT10 Certificate re registration public limited company to private
- 2024-12-09 RR02 Reregistration public to private company
- 2024-12-09 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-02 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-07 | AA | accounts | Accounts with accounts type group | |
| 2025-09-02 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-01 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-03-05 | ANNOTATION | miscellaneous | Legacy | |
| 2025-02-26 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-02-25 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-25 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-13 | SH06 | capital | Capital cancellation shares | |
| 2025-01-20 | SH03 | capital | Capital return purchase own shares | |
| 2025-01-19 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-12-12 | SH06 | capital | Capital cancellation shares | |
| 2024-12-09 | CERT10 | change-of-name | Certificate re registration public limited company to private | |
| 2024-12-09 | MAR | incorporation | Re registration memorandum articles | |
| 2024-12-09 | RR02 | change-of-name | Reregistration public to private company | |
| 2024-12-09 | RESOLUTIONS | resolution | Resolution | |
| 2024-12-03 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-27 | TM01 | officers | Termination director company with name termination date | |
| 2024-11-18 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 4
- Officers appointed
- 1
- Officers resigned
- 1
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
+159%
£61,000 £158,000
-
Cash
+149.3%
£1,423,000 £3,547,000
-
Net assets
-290.3%
£5,088,000 -£9,683,000
-
Employees
+31.7%
41 54
-
Operating profit
-103.5%
-£14,978,000 -£30,479,000
-
Profit before tax
-82.4%
-£17,198,000 -£31,374,000
-
Wages
-17.1%
£6,974,000 £5,784,000
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