ITM POWER UK LIMITED

1. ITM POWER UK LIMITED 2024-12-06 → present
2. ITM POWER (TRADING) LIMITED 2007-04-30 → 2024-12-06
3. QUAYSHELFCO 1214 LIMITED 2007-03-13 → 2007-04-30

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 101

Reporting scope

Standalone (parent only)

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 remain cash positive without the requirement for further fund raising based on delivering the existing pipeline and therefore will be able to support the operations of its principal subsidiary for at least 12 months from the date of approval of these financial statements. The accounts have therefore been prepared on a going concern basis.”

Group structure

1. ITM POWER UK LIMITED · parent
   1. ITM Power Shelfco Limited 100% · UK · Research

Significant events

• “Since the product launch in May, during the financial year, we have already announced three NEPTUNE V contracts for eight units, totalling 40MW, along with two Front-End Engineering Design (FEED) contracts of 50MW and 10MW respectively. Since year-end, we sold a NEPTUNE V unit to Westnetz and were selected by Uniper for their 120MW Humber H2ub (Green) project in the UK, which will consist of six 20MW POSEIDON core electrolysis process modules.”

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

1

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

  +69%

  £16,218,000 → £27,407,000

• Cash

  +50.1%

  £3,719,000 → £5,582,000

• Net assets

  -86.5%

  £36,742,000 → £4,974,000

• Employees

  -6.6%

  317 → 296

• Operating profit

  -1.5%

  -£33,240,000 → -£33,748,000

• Profit before tax

  +10.4%

  -£40,046,000 → -£35,896,000

• Wages

  +7.8%

  £15,246,000 → £16,432,000

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