FORMICA LIMITED
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Cash
£888k
Latest balance sheet
Net assets
£36m
lowest in 3 filed years
Employees
232
Average over period
Profit before tax
-£8.1m
Period ending 2025-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
Cash flow forecasts have been prepared, including a sensitivity for a severe but plausible downside scenario, both of which indicate that further funding will be required from the company's intermediate parent undertaking Broadview Materials B.V. The fact that the company's intermediate parent undertaking Broadview Materials B.V. does not provide a formal letter of financial support constitutes a material uncertainty that may cast significant doubt with regard to the company's ability to continue as a going concern.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Basic Materials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £44,824,000 | £35,708,000 | £41,380,000 | — | |
| Operating profit | -£36,912,000 | -£8,314,000 | -£5,685,000 | — | |
| Profit before tax | -£37,230,000 | -£8,528,000 | -£8,114,000 | — | |
| Net profit | -£37,230,000 | -£8,528,000 | -£8,114,000 | — | |
| Cash | £624,000 | £1,128,000 | £888,000 | — | |
| Total assets less current liabilities | £52,372,000 | £84,034,000 | £35,730,000 | — | |
| Net assets | £52,372,000 | £43,844,000 | £35,730,000 | — | |
| Equity | £52,372,000 | £43,844,000 | £35,730,000 | — | |
| Average employees | 282 | 215 | 232 | — | |
| Wages | £10,528,000 | £8,294,000 | £9,846,000 | — | |
| Directors' remuneration | £132,000 | £157,000 | £208,000 | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. Year-on-year comparison hidden: this filing covers about 24 months versus 24 months prior. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | -82.3% | -23.3% | -13.7% | |
| Net margin | -83.1% | -23.9% | -19.6% | |
| Return on capital employed | -70.5% | -9.9% | -15.9% | |
| Gearing (liabilities / total assets) | — | 52.9% | 62.0% | |
| Current ratio | 1.03x | 4.81x | 0.67x | |
| Interest cover | -43.94x | -7.00x | -1.99x |
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
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“Cash flow forecasts have been prepared, including a sensitivity for a severe but plausible downside scenario, both of which indicate that further funding will be required from the company's intermediate parent undertaking Broadview Materials B.V. The fact that the company's intermediate parent undertaking Broadview Materials B.V. does not provide a formal letter of financial support constitutes a material uncertainty that may cast significant doubt with regard to the company's ability to continue as a going concern.”
Group structure
- FORMICA LIMITED · parent
- Formica SAS 100%
- Formica Holding GmbH 100%
- Formica IKI Oy 100%
- Formica Sp.z.o.o. 100%
- Formica BV 100%
- Homapal GmbH 100%
- Nordic Facade Solutions Oy 100%
- Formica Skandinavien AB 100%
- Formica Norge A/S 100%
- Formica Danmark ApS 100%
Significant events
- “The third party UK sales business of Formica Limited was sold to Broadview Materials UK Limited on 27/03/2026. This follows the renaming of sister company Arpa UK (Ltd.) to Broadview Materials UK Limited to Broadview Materials UK Limited to enable the unification of a combined sales and distribution platform for Arpa®, FENIX®, Formica®, Homapal® and Getacore®. Formica Limited will continue to manufacture the same world leading products and sell to both Broadview Materials UK Limited and other intercompany counterparties across Europe.”
- “A capital injection amounting to £5.3m was made into Formica IKI Oy to meet Finnish statutory requirements.”
- “The assets of Nordic Facade Solutions Oy were transferred to Nordic Facade Solutions AB as of 01 January 2025, an entity incorporated by Trespa International B.V.”
- “Subsequent to the reporting date, the loan facility agreement with the parent company was extended, with the maturity date revised from its previous term to 31 December 2030.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 46 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BROWNE, Maryana | Secretary | 2023-12-12 | — | — |
| VAN DER ZEE, Martijn | Director | 2020-10-01 | Feb 1987 | Dutch |
| VAN OS, Wouter | Director | 2024-06-05 | Feb 1983 | Dutch |
Show 46 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BROOKS, Charles Alan, Mr (Assistant Company Secretary) | Secretary | — | 1995-02-03 |
| DOBSON, Cy | Secretary | — | 1996-09-09 |
| DODDS, Judith | Secretary | 1998-09-01 | 2004-01-01 |
| FAN, George | Secretary | 1998-05-01 | 1998-07-20 |
| MCGREGOR, Joanne | Secretary | 2004-01-01 | 2023-12-11 |
| SCHNEIDER, David Theodore | Secretary | 1998-07-20 | 1998-09-01 |
| INVENSYS SECRETARIES LIMITED | Corporate Secretary | 1996-09-09 | 1998-05-01 |
| ADAMS, William | Director | — | 2002-01-01 |
| ADAMSON, Mark Duncan | Director | 2002-01-01 | 2013-02-28 |
| ALDERSON, Peter | Director | 1995-02-28 | 2009-12-31 |
| BAX, Erik Jan | Director | 2020-01-31 | 2020-09-30 |
| BOANAS, John | Director | — | 1993-01-31 |
| BOLLMAN, Robert Gerard | Director | 2014-10-31 | 2016-11-11 |
| BOX, Leigh Jeffrey | Director | 2010-01-01 | 2019-06-03 |
| BROWN, Robert Casson | Director | 1996-09-09 | 1997-12-31 |
| BULA, Agnese | Director | 2022-02-18 | 2023-06-20 |
| CROW, Richard John | Director | — | 1996-03-09 |
| CRUICKSHANK, Dennis Alan | Director | 1996-09-09 | 1998-05-01 |
| DE PATER, Jan Melle Willem Ruurd | Director | 2014-06-25 | 2015-10-15 |
| FAN, George | Director | 1998-05-01 | 2002-02-27 |
| FOREMAN, Paul Andrew | Director | 2012-03-20 | 2020-11-20 |
| GILL, Mark Richard | Director | 2015-01-16 | 2015-11-09 |
| HALL, Peter Denis | Director | 1995-02-28 | 2016-10-28 |
| KRAUS, Robert Gerard | Director | — | 1995-02-03 |
| LANGONE, Vincent Peter | Director | — | 1995-06-30 |
| LLOYD, Christopher Mark | Director | 2002-01-01 | 2003-09-30 |
| MARSHALL, Peter | Director | 1993-01-31 | 1995-02-28 |
| MASON, Neil Laurence | Director | 2015-11-09 | 2022-02-04 |
| MASON, Neil Laurence | Director | 2010-08-16 | 2015-01-16 |
| MCKENZIE, Bevan John | Director | 2017-01-01 | 2019-06-03 |
| OLSON, Nicholas John | Director | 2013-04-08 | 2014-10-31 |
| PALLAS, David | Director | 2009-03-23 | 2014-06-25 |
| POLLINGTON, Richard Simon | Director | 2008-03-12 | 2017-08-09 |
| ROEST, William Jon | Director | 2008-03-14 | 2013-04-08 |
| RUSH, Peter John | Director | 2016-10-28 | 2020-01-31 |
| SCHNEIDER, David Theodore | Director | 1998-07-20 | 2002-02-27 |
| SCHNEIDER, David Theodore | Director | — | 1995-06-30 |
| SMITH, Alan | Director | — | 1995-01-15 |
| STEVENS, David John | Director | 1997-12-31 | 1998-05-01 |
| STYLES, David James | Director | 2008-03-12 | 2008-10-01 |
| THOM, James Demmink | Director | 1996-09-09 | 1998-05-01 |
| WHISKER, Jonathan Barclay | Director | 2008-03-12 | 2010-08-20 |
| WILLIAMS, Ivor Edward, Dr | Director | — | 1992-10-12 |
| WORLEY, David Kenrick | Director | 2008-03-14 | 2012-03-20 |
| WORTMAN, Kirk | Director | 1998-05-01 | 2002-02-27 |
| ZUCKERMAN, Paul | Director | 2013-02-28 | 2016-02-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Formica Holdco (Uk) Limited | Corporate entity | Shares 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 288 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-31 | AA | accounts | Accounts with accounts type full | |
| 2026-07-13 | TM02 | officers | Termination secretary company with name termination date | |
| 2026-07-13 | AP01 | officers | Appoint person director company with name date | |
| 2026-07-13 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-15 | AA | accounts | Accounts with accounts type full | |
| 2024-12-13 | AA | accounts | Accounts with accounts type full | |
| 2024-12-12 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-11-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-12 | AP01 | officers | Appoint person director company with name date | |
| 2023-12-12 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-12-11 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-11-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-24 | AA | accounts | Accounts with accounts type full | |
| 2023-06-22 | TM01 | officers | Termination director company with name termination date | |
| 2022-10-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-08-02 | AA | accounts | Accounts with accounts type full | |
| 2022-02-23 | AP01 | officers | Appoint person director company with name date | |
| 2022-02-10 | TM01 | officers | Termination director company with name termination date | |
| 2021-11-03 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- 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.