APEC LIMITED
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Cash
£28m
-30.4% vs 2024
Net assets
£28m
-2.8% vs 2024
Employees
87
-16.3% lowest in 3 filed years
Profit before tax
-£631k
-107.5% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Accounts not prepared on a going-concern basis
In the second half of the period, the Company's activities began to be undertaken to its fellow subsidiary Ferraris Piston Service Limited. On 31 December 2025, the Company ceased trading. The directors intend to wind up the company and, accordingly, they have prepared the financial statements on a basis other than going concern.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Consumer Discretionary 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 | £85,231,000 | £83,389,000 | £77,087,000 | -7.6% | |
| Operating profit | £6,177,000 | £8,462,000 | -£631,000 | -107.5% | |
| Profit before tax | £6,177,000 | £8,461,000 | -£631,000 | -107.5% | |
| Net profit | £4,729,000 | £6,344,000 | -£789,000 | -112.4% | |
| Cash | £25,002,000 | £39,858,000 | £27,723,000 | -30.4% | |
| Total assets less current liabilities | £22,311,000 | £28,655,000 | £32,850,000 | +14.6% | |
| Net assets | £22,311,000 | £28,655,000 | £27,866,000 | -2.8% | |
| Equity | £22,311,000 | £28,655,000 | £27,866,000 | -2.8% | |
| Average employees | 109 | 104 | 87 | -16.3% | |
| Wages | £3,798,000 | £3,903,000 | £3,473,000 | -11% | |
| Directors' remuneration | £120,000 | £0 | £0 | — |
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 —. 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 | 7.2% | 10.1% | -0.8% | |
| Net margin | 5.5% | 7.6% | -1.0% | |
| Return on capital employed | 27.7% | 29.5% | -1.9% | |
| Gearing (liabilities / total assets) | 72.3% | 71.1% | 29.4% | |
| Current ratio | 1.35x | 1.38x | 5.96x |
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.
Name history
Renamed 1 time since incorporation
- APEC LIMITED 1998-06-01 → present
- AUTOMOTIVE POWER EQUIPMENT CO (BRISTOL) LIMITED 1965-06-08 → 1998-06-01
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Not a going concern (break-up basis)
“In the second half of the period, the Company's activities began to be undertaken to its fellow subsidiary Ferraris Piston Service Limited. On 31 December 2025, the Company ceased trading. The directors intend to wind up the company and, accordingly, they have prepared the financial statements on a basis other than going concern.”
Significant events
- “On 31 December 2025, the Company ceased trading. In 2026, the Company exited its leased premises in Bristol with a reverse lease premium payment of £1.4m.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 29 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GALVIN, Cade Ashby | Director | 2025-08-21 | Mar 1986 | British |
| RICHARDSON, Stephen William | Director | 2019-12-31 | Aug 1969 | British |
Show 29 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BLAKEMAN, David John | Secretary | 2005-10-11 | 2007-01-02 |
| COOMBES, John Frederick | Secretary | 2017-12-31 | 2025-08-21 |
| EDEN, Jonathan Clive | Secretary | 2016-11-04 | 2017-12-31 |
| GREGSON, Robin Anthony | Secretary | 2009-12-31 | 2011-10-01 |
| MACDONALD, Stuart Randolph | Secretary | 2007-01-02 | 2009-12-31 |
| MACGEEKIE, Glenda | Secretary | 2011-10-01 | 2016-11-04 |
| MAGGS, Jenny | Secretary | — | 2005-10-11 |
| ANDRE, Denis | Director | 2016-11-04 | 2018-10-31 |
| BLACKBURN, Peter Edward | Director | 2008-04-01 | 2016-02-29 |
| BLAKEMAN, David John | Director | 2005-10-11 | 2007-01-02 |
| BROWN, Alistair Stuart | Director | 2016-11-04 | 2019-12-31 |
| BRUCE, Andrew Campbell | Director | 2009-05-22 | 2016-11-04 |
| COOMBES, John Frederick | Director | 2017-12-31 | 2025-12-31 |
| DAVIS, Neil Anthony | Director | 2005-10-12 | 2017-11-30 |
| DYSON, David Victor, Mr. | Director | 2005-10-11 | 2009-05-19 |
| EDEN, Jonathan Clive | Director | 2016-03-01 | 2016-11-04 |
| FISHER, Steven Charles | Director | 1991-01-01 | 2021-03-17 |
| GREGSON, Robin Anthony | Director | 2009-06-09 | 2016-11-04 |
| JONES, Angela Mary | Director | 2006-03-14 | 2007-11-12 |
| JONES, Peter | Director | 2009-05-22 | 2013-12-31 |
| LAFONT, Jean-Jacques Mathieu | Director | 2016-11-04 | 2019-12-31 |
| MAGGS, Jenny | Director | — | 2005-10-11 |
| MAGGS, Roger Lewis | Director | — | 2005-10-11 |
| O SHEA, Julie Patricia | Director | 1999-04-01 | 2004-09-30 |
| RECARTE, Jose Manuel Oficial Degui | Director | — | 1992-05-04 |
| SARASA, Jose Maria Leoz | Director | — | 1992-05-04 |
| SURGENOR, Henry Kenneth | Director | 2005-10-11 | 2009-09-30 |
| WAINWRIGHT, Terence Michael | Director | 2017-11-30 | 2020-12-31 |
| WAINWRIGHT, Terence Michael | Director | 2005-10-11 | 2016-11-04 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Fps Distribution Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-06-30 | Active |
Filing timeline
Last 20 of 185 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-10-06 | AA | accounts | Accounts with accounts type full | |
| 2026-02-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-05 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-06 | AA | accounts | Accounts with accounts type full | |
| 2025-08-21 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-21 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-08-21 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-01-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-11 | AA | accounts | Accounts with accounts type full | |
| 2024-01-29 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-13 | AA | accounts | Accounts with accounts type full | |
| 2023-05-12 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-02-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-06 | AA | accounts | Accounts with accounts type full | |
| 2022-08-22 | CH01 | officers | Change person director company with change date | |
| 2022-01-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-11-04 | AA | accounts | Accounts with accounts type full | |
| 2021-09-21 | AA01 | accounts | Change account reference date company previous extended | |
| 2021-05-04 | AD01 | address | Change registered office address company with date old address new address | |
| 2021-04-26 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 1
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.