MODUTEC LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2027-04-02 (in 11mo)
Last made up 2026-03-19
Watchouts
None on the register
Cash
£3M
+92.2% vs 2024
Net assets
£9M
+44.8% vs 2024
Employees
478
+28.2% vs 2024
Profit before tax
£4M
+74.4% vs 2024
Name history
Renamed 2 times since incorporation
- MODUTEC LIMITED 2020-06-10 → present
- RIGFIT7SEAS LIMITED 2019-10-02 → 2020-06-10
- RIGFIT OFFSHORE LIMITED 2002-03-19 → 2019-10-02
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £27,155,000 | £40,255,000 | |
| Operating profit | £2,222,000 | £3,987,000 | |
| Profit before tax | £2,155,000 | £3,759,000 | |
| Net profit | £2,095,000 | £3,164,000 | |
| Cash | £1,792,000 | £3,444,000 | |
| Total assets less current liabilities | £7,856,000 | £14,470,000 | |
| Net assets | £6,292,000 | £9,109,000 | |
| Equity | £6,292,000 | £9,109,000 | |
| Average employees | 373 | 478 | |
| Wages | £9,680,000 | £14,104,000 |
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 | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | 8.2% | 9.9% | |
| Net margin | 7.7% | 7.9% | |
| Return on capital employed | 28.3% | 27.6% | |
| Gearing (liabilities / total assets) | 50.3% | 61.3% | |
| Current ratio | 2.35x | 2.03x | |
| Interest cover | 33.16x | 15.95x |
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
- Anderson Anderson & Brown Audit LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate”
Group structure
- MODUTEC LIMITED · parent
- Seven Sea Services LLC 100%
- Seven Seas Decor W LL 100%
- Rigfit Middle East Ship Maintenance LLC 100%
- Modutec Arabia Contracting 100%
- Modutec Services and Contracting WLL 100%
- Modutec Repair and Maintenance W L L 100%
- Co-At Marine Limited 75%
- Bidston Holdings Limited 75%
- Seaking Electrical Limited 75%
Significant events
- “The acquisition enhanced Modutec's skill set and value proposition, as well as increasing reach into the defence and marine markets in Europe.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MATHESON, Andrew Campbell | Secretary | 2019-02-01 | — | — |
| ANDREW, Christopher | Director | 2022-09-15 | Aug 1988 | British |
| KNOWLES, Brian Andrew | Director | 2019-02-01 | Aug 1965 | British |
| MACGREGOR, Iain Ross | Director | 2019-02-01 | Jan 1982 | British |
| MACGREGOR, John Angus | Director | 2019-02-01 | Sep 1986 | British |
| MATHESON, Andrew Campbell | Director | 2019-02-01 | Oct 1981 | British |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HENDERSON, David | Secretary | 2002-03-19 | 2005-09-09 |
| MACDONALD, James Donald | Secretary | 2012-09-27 | 2019-02-01 |
| MAIR, Alexander Bruce | Secretary | 2009-06-11 | 2012-09-27 |
| JM TAYLOR LIMITED | Corporate Secretary | 2005-09-09 | 2009-06-11 |
| DEANS, Elaine | Director | 2002-03-19 | 2002-03-27 |
| HAMILTON, William | Director | 2009-06-11 | 2019-02-01 |
| HAY, Simon Alexander | Director | 2002-03-27 | 2004-06-14 |
| HENDERSON, David | Director | 2002-03-19 | 2005-09-09 |
| KNOWLES, Brian Andrew | Director | 2002-03-27 | 2016-05-31 |
| MACDONALD, James Donald | Director | 2011-11-04 | 2019-02-01 |
| MACGREGOR, Roderick James | Director | 2009-06-11 | 2019-02-01 |
| MAIR, Alexander Bruce | Director | 2009-06-11 | 2012-09-27 |
| PIKE, Jonathan | Director | 2005-09-08 | 2007-07-04 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Modutec Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-06-21 | Active |
| Envoy & Partners Limited | Corporate entity | Shares 75–100% | 2019-02-01 | Ceased 2019-06-21 |
| Global Energy (Holdings) Limited | Corporate entity | Shares 75–100% | 2016-10-01 | Ceased 2019-02-02 |
Filing timeline
Last 20 of 149 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-06-15 RESOLUTIONS Resolution
- 2023-06-15 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-03-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-02-23 | AA | accounts | Accounts with accounts type group | |
| 2025-04-30 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-04-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-01-07 | AA | accounts | Accounts with accounts type group | |
| 2024-04-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-02-20 | AA | accounts | Accounts with accounts type group | |
| 2023-06-15 | RESOLUTIONS | resolution | Resolution | |
| 2023-06-15 | MA | incorporation | Memorandum articles | |
| 2023-06-15 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2023-06-14 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-06-14 | SH01 | capital | Capital allotment shares | |
| 2023-04-13 | AA | accounts | Accounts with accounts type audit exemption subsiduary | |
| 2023-04-13 | PARENT_ACC | accounts | Legacy | |
| 2023-04-13 | AGREEMENT2 | other | Legacy | |
| 2023-04-13 | GUARANTEE2 | other | Legacy | |
| 2023-04-06 | CH01 | officers | Change person director company with change date | |
| 2023-04-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-11-24 | AP01 | officers | Appoint person director company with name date | |
| 2022-04-25 | CS01 | confirmation-statement | Confirmation statement with no updates |
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
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+48.2%
£27,155,000 £40,255,000
-
Cash
+92.2%
£1,792,000 £3,444,000
-
Net assets
+44.8%
£6,292,000 £9,109,000
-
Employees
+28.2%
373 478
-
Operating profit
+79.4%
£2,222,000 £3,987,000
-
Profit before tax
+74.4%
£2,155,000 £3,759,000
-
Wages
+45.7%
£9,680,000 £14,104,000
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