FOUNDRIES.IO LIMITED
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Next accounts due
2026-06-30 (in 1mo)
Last filed for 2024-09-30
Confirmation statement due
2026-08-17 (in 3mo)
Last made up 2025-08-03
Watchouts
None on the register
Cash
£2M
-51.1% vs 2023
Net assets
£5M
+311.5% vs 2023
Employees
12
-55.6% vs 2023
Profit before tax
-£7M
-44.8% vs 2023
Name history
Renamed 1 time since incorporation
- FOUNDRIES.IO LIMITED 2018-09-12 → present
- OPEN SOURCE FOUNDRIES LIMITED 2017-08-04 → 2018-09-12
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 |
|---|---|---|---|
| Turnover | £1,660,666 | £1,349,380 | |
| Operating profit | -£4,072,610 | -£1,714,627 | |
| Profit before tax | -£4,532,497 | -£6,562,369 | |
| Net profit | -£4,015,367 | -£6,182,197 | |
| Cash | £3,566,299 | £1,743,229 | |
| Total assets less current liabilities | £1,129,704 | £4,649,005 | |
| Net assets | £1,129,704 | £4,649,005 | |
| Equity | £1,129,704 | £4,649,005 | |
| Average employees | 27 | 12 | |
| Wages | £2,604,185 | £1,281,906 |
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 | 2023-09-30 | 2024-09-30 |
|---|---|---|---|
| Operating margin | -245.2% | -127.1% | |
| Net margin | -241.8% | -458.2% | |
| Return on capital employed | -360.5% | -36.9% | |
| Gearing (liabilities / total assets) | 84.0% | 10.5% | |
| Current ratio | 3.28x | 5.92x | |
| Interest cover | -8.02x | -0.35x |
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
“The financial statements are prepared on the going concern basis. The directors have considered future cash forecasts and revenue projections, based on prudent market data, in their consideration of going concern to allow the Company to meet its liabilities as they fall due and the directors therefore have a reasonable expectation that the Company will be able to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements.”
Significant events
- “On 1 March 2024, Qualcomm Innovation Center, Inc. a wholly owned subsidiary of Qualcomm Incorporated ('Qualcomm') (NASDAQ: QCOM) acquired the company.”
- “As part of the acquisition, the employees of the Company were transferred to other Qualcomm entities.”
- “As a result of the acquisition, the convertible loan notes were settled in full.”
- “The subsidiary Foundries.io Inc was dissolved on 20 September 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| VISTRA COSEC LIMITED | Corporate Secretary | 2025-06-24 | — | — |
| SINGHAI, Sandeep | Director | 2024-03-01 | Jun 1971 | American |
| TURNER, Kathryn Elizabeth | Director | 2024-03-01 | Dec 1978 | British |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HUBBARD, Julia | Secretary | 2020-07-20 | 2023-03-31 |
| WILLIAMS, Susan Carol | Secretary | 2023-04-01 | 2024-03-01 |
| WOLLEY, Hugh Seymour | Secretary | 2019-05-31 | 2020-07-20 |
| BOOTH, Robert Alec | Director | 2017-08-04 | 2019-05-31 |
| DREW, Ian Ashley | Director | 2017-10-23 | 2024-03-01 |
| GREY, George Christopher | Director | 2017-08-04 | 2024-03-01 |
| HUBBARD, Julia Elizabeth | Director | 2021-06-17 | 2023-03-31 |
| VISVANATHAN, Krishna | Director | 2019-09-06 | 2024-03-01 |
| IQ CAPITAL DIRECTORS NOMINEES LTD | Corporate Director | 2021-04-23 | 2024-03-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Qualcomm Incorporated | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2024-03-01 | Active |
| Mr Robert Alec Booth | Individual | Shares 25–50%, Voting 25–50% | 2017-08-04 | Ceased 2017-10-25 |
| Mr George Christopher Grey | Individual | Shares 25–50%, Voting 25–50% | 2017-08-04 | Ceased 2017-10-25 |
Filing timeline
Last 20 of 76 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-03-13 RESOLUTIONS Resolution
- 2024-03-13 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-28 | CH04 | officers | Change corporate secretary company with change date | |
| 2025-08-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-08 | AA | accounts | Accounts with accounts type full | |
| 2025-07-01 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2024-08-28 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-08-18 | AA | accounts | Accounts with accounts type group | |
| 2024-06-07 | AD04 | address | Move registers to registered office company with new address | |
| 2024-04-06 | SH10 | capital | Capital variation of rights attached to shares | |
| 2024-03-26 | SH01 | capital | Capital allotment shares | |
| 2024-03-21 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-03-20 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2024-03-13 | RESOLUTIONS | resolution | Resolution | |
| 2024-03-13 | MA | incorporation | Memorandum articles | |
| 2024-03-07 | CH01 | officers | Change person director company with change date | |
| 2024-03-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-03-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-03-07 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-03-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-07 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 0
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 2024-09-30 vs 2023-09-30
-
Turnover
-18.7%
£1,660,666 £1,349,380
-
Cash
-51.1%
£3,566,299 £1,743,229
-
Net assets
+311.5%
£1,129,704 £4,649,005
-
Employees
-55.6%
27 12
-
Operating profit
+57.9%
-£4,072,610 -£1,714,627
-
Profit before tax
-44.8%
-£4,532,497 -£6,562,369
-
Wages
-50.8%
£2,604,185 £1,281,906
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