IC MULTI REC LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2027-03-03 (in 10mo)
Last made up 2026-02-17
Watchouts
None on the register
Cash
£31M
-29.8% vs 2023
Net assets
£777M
-3.3% vs 2023
Employees
0
Average over period
Profit before tax
-£13M
+78.3% vs 2023
Name history
Renamed 2 times since incorporation
- IC MULTI REC LIMITED 2023-04-26 → present
- IC MULTI REC PLC 2019-07-01 → 2023-04-26
- IC MULTI REC LIMITED 2019-02-18 → 2019-07-01
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £50,794,688 | £57,011,178 | |
| Operating profit | -£2,986,979 | £20,723,670 | |
| Profit before tax | -£60,357,819 | -£13,088,920 | |
| Net profit | -£61,154,434 | -£14,147,901 | |
| Cash | £43,551,602 | £30,577,539 | |
| Total assets less current liabilities | £1,428,831,699 | £1,395,630,481 | |
| Net assets | £804,074,150 | £777,258,924 | |
| Equity | £683,847,296 | £665,736,567 | |
| Average employees | 0 | 0 | |
| Wages | — | — |
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 | -5.9% | 36.4% | |
| Net margin | -120.4% | -24.8% | |
| Return on capital employed | -0.2% | 1.5% | |
| Gearing (liabilities / total assets) | 48.0% | 46.9% | |
| Current ratio | 0.60x | 0.65x | |
| Interest cover | -0.08x | 0.49x |
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 102
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers CI LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Taking the refinancing into consideration and the ongoing activities of the Group, after making enquiries and having considered cash flow forecasts, the Directors have formed a judgement, at the time of approving these consolidated financial statements, that there is a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future, being at least 12 months from the date of approving these consolidated financial statements”
Group structure
- IC MULTI REC LIMITED · parent
- IC Multi Holdco Limited 100%
- IC Multi LS Limited 100%
- Greenford B4 Holding Unit Trust 95%
- Peel Logistics UK Unit Trust 80%
Significant events
- “On 4 September 2025, the Group completed the sale of another subsidiary. The sale resulted in the full repayment of the external loan held by the related subsidiary.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MOURANT GOVERNANCE SERVICES (UK) LIMITED | Corporate Secretary | 2019-07-01 | — | — |
| PHULL, Ajay Singh | Director | 2020-07-08 | Aug 1988 | British |
| SAUL, Richard Martin | Director | 2019-06-28 | Aug 1974 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ABBAS, Nidae | Director | 2019-02-18 | 2020-06-17 |
| BOURGEOIS, Etienne | Director | 2021-12-06 | 2024-07-22 |
| DUBOIS, Sylvain | Director | 2019-06-28 | 2021-12-06 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| La Caisse De Depot Et Placement Du Quebec | Legal person | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-02-18 | Active |
Filing timeline
Last 20 of 46 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-04-26 CERT10 Certificate re registration public limited company to private
- 2023-04-26 RESOLUTIONS Resolution
- 2023-04-26 RR02 Reregistration public to private company
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-12-16 | AA | accounts | Accounts with accounts type group | |
| 2025-03-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-20 | AA | accounts | Accounts with accounts type group | |
| 2024-07-25 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-23 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-12-19 | SH01 | capital | Capital allotment shares | |
| 2023-08-03 | AA | accounts | Accounts with accounts type group | |
| 2023-05-16 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-04-26 | CERT10 | change-of-name | Certificate re registration public limited company to private | |
| 2023-04-26 | MAR | incorporation | Re registration memorandum articles | |
| 2023-04-26 | RESOLUTIONS | resolution | Resolution | |
| 2023-04-26 | RR02 | change-of-name | Reregistration public to private company | |
| 2023-03-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-07-06 | AA | accounts | Accounts with accounts type group | |
| 2022-02-25 | CH04 | officers | Change corporate secretary company with change date | |
| 2022-02-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-15 | AA | accounts | Accounts with accounts type interim | |
| 2021-12-06 | AP01 | officers | Appoint person director company with name date | |
| 2021-12-06 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- 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 2024-12-31 vs 2023-12-31
-
Turnover
+12.2%
£50,794,688 £57,011,178
-
Cash
-29.8%
£43,551,602 £30,577,539
-
Net assets
-3.3%
£804,074,150 £777,258,924
-
Employees
—
Not reported
-
Operating profit
+793.8%
-£2,986,979 £20,723,670
-
Profit before tax
+78.3%
-£60,357,819 -£13,088,920
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