MAINETTI (UK) LIMITED

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. MAINETTI (UK) LIMITED 1997-03-01 → present
2. MAINETTI TECHNOLOGY LIMITED 1996-12-16 → 1997-03-01

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 102

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The company meets its day-to-day working capital requirements through cash from sales, banking facilities and advances from its parent company and fellow group companies. The Directors believe that based on the company's forecast, the company has sufficient working capital to meet its requirements for at least the coming year from the date of this report. The Directors have obtained a letter of support from its ultimate parent company confirming it will provide adequate financial support for a period of at least 12 months from the date of signing these financial statements, enabling the company to meet its continuing operating liabilities given the company is in a net current liability position of £2.1m (2023: £3.6m). The Directors have a reasonable expectation that the group has adequate resources to provide this support for at least 12 months from the date of signing these financial statements. On this basis, the Directors have a reasonable expectation that the company has adequate resources to continue operations for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.”

Significant events

• “During 2025, Mainetti (UK) Limited was approached by its landlord of the Wrexham site to vacate the remaining area under lease. Mainetti (UK) Limited agreed and exited the site on 1 July 2025. As part of the exit process, the Polyloop closed-loop equipment was paused and no alternative location for the machinery was identified. The cessation of related overheads resulted in a noticeable improvement in operating results. In light of this, the Board undertook a strategic review of the Polyloop equipment in November 2025. Following consideration of the commercial, technological and market factors, the Directors determined that the Polyloop operation should be discontinued and as the equipment will no longer be used in operations, the Polyloop plant, machinery and associated capitalised assets will be impaired to £nil during FY25 as no alternative economic use has been identified. On 21 October 2025, the Company experienced a cyber incident, which was promptly contained with limited impact on operations or financial performance on the business. The business continued as normal. All matters were reported to the appropriate authorities and regulators and the investigations continue.”

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

0

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

  -7%

  £15,135,416 → £14,076,732

• Cash

  -22%

  £91,055 → £70,992

• Net assets

  -434.4%

  £314,391 → -£1,051,253

• Employees

  -27.3%

  99 → 72

• Operating profit

  -1,042.8%

  -£338,733 → -£3,871,095

• Profit before tax

  -321.4%

  -£1,028,854 → -£4,335,603

• Wages

  -20.6%

  £4,404,840 → £3,499,021

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