PULSE CLEAN ENERGY TOPCO LIMITED
Get an alert when PULSE CLEAN ENERGY TOPCO LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-08-10 (in 3mo)
Last made up 2025-07-27
Watchouts
None on the register
Cash
£20M
+0.6% vs 2023
Net assets
£136M
+63.5% vs 2023
Employees
31
+40.9% vs 2023
Profit before tax
-£30M
-139.7% vs 2023
Name history
Renamed 1 time since incorporation
- PULSE CLEAN ENERGY TOPCO LIMITED 2021-12-06 → present
- VALENCE UK TOPCO LTD 2021-07-28 → 2021-12-06
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £14,702,000 | £18,813,000 | |
| Operating profit | -£969,000 | -£23,276,000 | |
| Profit before tax | -£12,504,000 | -£29,974,000 | |
| Net profit | -£11,489,000 | -£28,405,000 | |
| Cash | £20,223,000 | £20,336,000 | |
| Total assets less current liabilities | £225,806,000 | £295,431,000 | |
| Net assets | £83,089,000 | £135,819,000 | |
| Equity | £83,089,000 | £135,819,000 | |
| Average employees | 22 | 31 | |
| Wages | £3,748,000 | £4,685,000 |
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 | -6.6% | -123.7% | |
| Net margin | -78.1% | -151.0% | |
| Return on capital employed | -0.4% | -7.9% | |
| Current ratio | 3.53x | 4.25x | |
| Interest cover | -0.08x | -3.33x |
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
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have assessed the Group's and the Company's ability to continue as a going concern for a period of 12 months from the date of signing the financial statements. Accordingly, the directors consider that it is appropriate to continue to adopt the going concern in preparing the financial statements.”
Group structure
- PULSE CLEAN ENERGY TOPCO LIMITED · parent
- Pulse Clean Energy UK Limited 100%
- Pulse Clean Energy Limited 100%
- Pulse Clean Energy Holdings Limited 100%
- Pulse Clean Energy Finance Limited 100%
- Pulse Clean Energy SPV Bell Limited 100%
- Pulse Clean Energy SPV Cavendish Limited 100%
- Pulse Clean Energy SPV Watt Limited 100%
- Pulse Clean Energy SPV Rubin Limited 100%
- Pulse Clean Energy SPV Anning Limited 100%
- Pulse Clean Energy SPV Franklin Limited 100%
- Pulse Clean Energy SPV Anderson Limited 100%
- Pulse Clean Energy SPV Freehold Anderson Limited 100%
- Pulse Clean Energy SPV Johnson 1 Limited 100%
- Pulse Clean Energy SPV Johnson 2 Limited 100%
- Pulse Clean Energy SPV Johnson 3 Limited 100%
- Pulse Clean Energy Development Limited 100%
- Pulse Clean Energy Services Limited 100%
- Pulse Clean Energy Solutions Limited 100%
Significant events
- “On 31st July 2025, the group entered in to a £220m credit facility with a with a syndicate of banks that expires in 31 July 2028.”
- “On 4th August 2025 as part of the new financing facility, the group entered in to hedging arrangements for new interest swaps on total drawdowns of £59.5m.”
- “On 20th June 2025 the group received an equity increase in share capital from IMCO totalling £17.9m.”
- “On 19th September 2025 the group entered in to a balance of plant contract with an external contractor for the sum of £20.4m in relation to the ongoing construction on the pathfinder asset that is currently held in Pulse Clean Energy SPV Franklin Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CATTO, Ivor Douglas | Director | 2024-06-04 | Aug 1966 | British |
| KAY, Alison Barbara | Director | 2022-12-21 | May 1964 | British |
| MENDES, Matthew | Director | 2024-06-04 | Aug 1981 | Canadian |
| SIMS, Polina | Director | 2021-07-28 | Mar 1978 | Canadian |
| WILLS, Trevor Alexander | Director | 2023-10-26 | Oct 1983 | British,Canadian |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FORMUZIEWICH, Timothy Gerald | Director | 2021-07-28 | 2022-07-19 |
| MASSARA, Paul Joseph | Director | 2022-07-19 | 2023-09-07 |
| MENDES, Matthew | Director | 2021-07-28 | 2022-12-21 |
| WILLS, Trevor | Director | 2021-07-28 | 2022-07-19 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Imco Valence Aggregator Ltd | Corporate entity | Appoints directors | 2021-07-28 | Ceased 2021-07-28 |
| Imco Valence Lp | Corporate entity | Shares 75–100%, Voting 75–100% | 2021-07-28 | Ceased 2021-07-28 |
Filing timeline
Last 20 of 48 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-09-07 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-05 | SH01 | capital | Capital allotment shares | |
| 2025-10-09 | AA | accounts | Accounts with accounts type group | |
| 2025-07-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-24 | CH01 | officers | Change person director company with change date | |
| 2025-06-24 | SH01 | capital | Capital allotment shares | |
| 2025-01-14 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2025-01-10 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-12-17 | SH01 | capital | Capital allotment shares | |
| 2024-12-17 | SH01 | capital | Capital allotment shares | |
| 2024-08-08 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-06-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-06-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-05-17 | AA | accounts | Accounts with accounts type group | |
| 2024-05-15 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-11-02 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-11 | SH01 | capital | Capital allotment shares | |
| 2023-09-11 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-07 | RESOLUTIONS | resolution | Resolution | |
| 2023-08-17 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2023-08-11 | CS01 | confirmation-statement | Confirmation statement with updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 6
- 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
+28%
£14,702,000 £18,813,000
-
Cash
+0.6%
£20,223,000 £20,336,000
-
Net assets
+63.5%
£83,089,000 £135,819,000
-
Employees
+40.9%
22 31
-
Operating profit
-2,302.1%
-£969,000 -£23,276,000
-
Profit before tax
-139.7%
-£12,504,000 -£29,974,000
-
Wages
+25%
£3,748,000 £4,685,000
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