ITP ENGINES UK LIMITED

1. ITP ENGINES UK LIMITED 2008-09-10 → present
2. DUNWILCO (1535) LIMITED 2008-02-29 → 2008-09-10

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

IFRS

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors believe that the company has sufficient cash and liquidity to continue to be able to settle its debts, as and when they fall due, for a period of at least 18 months from the date of approval of these financial statements. In making this assessment, the future cash flow forecasts for the period up to the end of December 2026 have been considered, including utilising a severe but plausible downside scenario to the latest forecasts. Due to the impact of the closure of the Lincoln site and the macroeconomic environment in which the company operates (and is likely to be operating in for the immediate future) the directors have requested and obtained a letter of support from the parent company. Whilst not legally binding, based upon discussions with the group finance team around the ability and intent of the parent company to provide the required support, as and when needed, and based upon prior support being made available to the company the directors have concluded that this support will be available and hence the going concern basis of preparation has been deemed to be appropriately applied.”

Group structure

1. ITP ENGINES UK LIMITED · parent
   1. Power Jets (Research and Development) Limited 100% · England and Wales · Dormant company

Significant events

• “On 29 November 2023, it was announced that there was a risk that the companies Lincoln site could be closed in 2025. The company began collective consultation on 12 December 2023. On 6 March 2024, and following the period of consultation, the company confirmed the closure of the ITP Engines UK Limited Lincoln Site.”
• “On 6 March 2024, the company confirmed the decisions to close the ITP Engines UK Limited site at Lincoln. The decision still stands, and actions to support the site closure are ongoing, including regular communication with the effected employees.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -15.5%

  £16,071,000 → £13,572,000

• Cash

  -83.9%

  £2,013,000 → £325,000

• Net assets

  -11%

  £10,778,000 → £9,588,000

• Employees

  -14%

  129 → 111

• Operating profit

  +62.3%

  -£3,406,000 → -£1,283,000

• Profit before tax

  +63.9%

  -£3,544,000 → -£1,281,000

• Wages

  -9.6%

  £6,496,000 → £5,873,000

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