POLYPIPE LIMITED
Trading as Polypipe Building Services, the company manufactures plastic piping and water management solutions as a subsidiary of the Genuit Group.
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Cash
£29m
+13.8% highest in 3 filed years
Net assets
£508m
+6.4% highest in 3 filed years
Employees
2,554
+1.9% highest in 3 filed years
Profit before tax
£47m
-48.3% vs 2024
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 | £438,200,000 | £429,600,000 | £447,500,000 | +4.2% | |
| Operating profit | £35,100,000 | £100,500,000 | £50,200,000 | -50% | |
| Profit before tax | £24,000,000 | £91,100,000 | £47,100,000 | -48.3% | |
| Net profit | £12,800,000 | £80,000,000 | £28,800,000 | -64% | |
| Cash | £3,000,000 | £25,400,000 | £28,900,000 | +13.8% | |
| Total assets less current liabilities | £514,300,000 | £511,500,000 | £540,400,000 | +5.7% | |
| Net assets | £483,100,000 | £477,900,000 | £508,400,000 | +6.4% | |
| Equity | £483,100,000 | £477,800,000 | £508,400,000 | +6.4% | |
| Average employees | 2,515 | 2,507 | 2,554 | +1.9% | |
| Wages | £95,900,000 | £100,000,000 | £103,200,000 | +3.2% | |
| Directors' remuneration | — | £2,200,000 | £2,000,000 | -9.1% |
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 | 8.0% | 23.4% | 11.2% | |
| Net margin | 2.9% | 18.6% | 6.4% | |
| Return on capital employed | 6.8% | 19.6% | 9.3% | |
| Current ratio | 0.28x | 0.48x | 0.32x | |
| Interest cover | 3.16x | 9.95x | 3.41x |
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 2 times since incorporation
- POLYPIPE LIMITED 2009-05-01 → present
- POLYPIPE BUILDING PRODUCTS LIMITED 2000-04-07 → 2009-05-01
- POLYPIPE PLC 1973-02-28 → 2000-04-07
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“As a result, the Directors have satisfied themselves that the Group has adequate financial resources to continue to support the Company in operational existence for a period to 31 December 2027. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- POLYPIPE LIMITED · parent
- AAA Holdings Limited 100%
- Adey Commercial Limited 100%
- Adey Holdings (2008) Limited 100%
- Adey Innovation Limited 100%
- Adey Innovation LLC 100%
- Adey Innovation SAS 100%
- Adey Innovation (Shanghai) Water Treatment Technology Co. Ltd 100%
- Alderburgh Limited 100%
- Alderburgh Ireland Limited 100%
- Alpha Scientific Ltd 100%
- Cistermiser Limited 100%
- Combimate Limited 100%
- Davidson Holdings Limited 100%
- Environmental Sustainable Solutions Ltd 100%
- Equaflow Ltd 50%
- Genuit UFH Limited 100%
- Grey2Green Ltd 100%
- Hamsard 3774 Limited 100%
- Infra Green Limited 100%
- Keraflo Limited 100%
- Keytec Geomembranes Limited 100%
- Keytec Installation Services Limited 100%
- Living Roof Supplies Limited 100%
- London Bidco Limited 100%
- London Finco Limited 100%
- London Green Roof Company Limited 100%
- London Topco Limited 100%
- Manthorpe Building Products Holdings Limited 100%
- Manthorpe Building Products Limited 100%
- Monodraught Holdings Limited 100%
- Monodraught Limited 100%
- Monodraught Topco Limited 100%
- New Urban Standard B.V. 100%
- Nuaire Limited 100%
- Nu-heat (Holdings) Limited 100%
- Nu-heat UK Limited 100%
- Permavoid B.V. 100%
- Permavoid Limited 100%
- Permavoid Technologies Limited 100%
- Permavoid Technologies (USA) Limited 100%
- Plura Composites Ltd 100%
- Pocket Bed Limited 100%
- Polydeck Limited 100%
- Polypipe Building Products Limited 100%
- Polypipe Civils Limited 100%
- Polypipe Italia SRL 100%
- Polypipe Middle East FZE 100%
- Polypipe Middle East Water Technology LLC 100%
- Polypipe (Ulster) Limited 100%
- Robimatic Limited 100%
- Salamander Pumped Shower Systems Limited 100%
- Sky Garden Limited 100%
- Solutek Environmental Limited 100%
- Surestop Limited 100%
- Sustainable Water and Drainage Systems B.V. 50%
- Sustainable Water and Drainage Systems Limited 50%
- Talon Manufacturing Limited 100%
- Timoleon Sp z.o.o 100%
- Water Management Solutions LLC 49%
Significant events
- “On 29 August 2025, the Company acquired 100% of the voting rights and shares of Monodraught Topco Limited ('Monodraught'), a market leading solutions business who design, manufacture and maintain sustainable ventilation systems on a debt-free and cash-free basis, fully funded via the Group's existing debt facilities.”
- “On 26 September 2025, the Group acquired 100% of the voting rights and shares of Davidson Holdings Limited ('Davidson'), a group of three businesses consisting of Woodley (Reading), Talon (Gillingham) and Salamander (Sunderland), on a debt-free and cash-free basis, fully funded via the Group's existing debt facilities.”
- “On 22 July 2025, the Group exercised the option to extend the Sustainability-Linked Revolving Credit Facility (RCF) to 9 August 2028, securing a facility of £310.3m to August 2027 and £285.6m to August 2028, with an uncommitted accordion facility of up to £50.0m.”
- “On 24 September 2025 the Note Purchase and Private Shelf Agreement originally dated 10 August 2022 was amended and restated, extending the uncommitted facility to 9 August 2028 for an amount of $180.0m, c. £133m (previously £125.0m).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 33 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| VERSLUYS, Emma Gayle | Secretary | 2017-06-28 | — | — |
| PULLEN, Timothy Neil | Director | 2023-11-01 | Nov 1977 | British |
| VORIH, Joseph Michael | Director | 2022-02-28 | Jul 1967 | American |
Show 33 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| COX, Edward Alan | Secretary | — | 1999-06-30 |
| HOLLOWAY, David John | Secretary | 2004-10-07 | 2006-02-08 |
| PAYNE, Martin Keith | Secretary | 2016-05-25 | 2017-06-28 |
| SHEPHERD, Peter David | Secretary | 2006-02-08 | 2016-05-25 |
| SMITH, Andrew | Secretary | 1999-06-30 | 2004-10-07 |
| ALLEN, Gary James | Director | 1999-05-25 | 2001-05-11 |
| BAKER, Bryan William | Director | — | 1994-07-27 |
| BOWES LYON, Michael Fergus, Earl Of Strathmore And Kinghorne | Director | 1994-08-30 | 1999-05-19 |
| CORR, James Joseph | Director | 1995-11-20 | 2000-06-30 |
| HALL, David Graham | Director | 2005-09-02 | 2017-10-02 |
| HARDY, Michael Harry | Director | — | 2004-06-01 |
| HARRISON, Geoffrey | Director | — | 1999-05-19 |
| HICKEY, Thoams Myron | Director | 2007-04-27 | 2008-11-14 |
| HOLLOWAY, David John | Director | 2004-10-07 | 2006-02-08 |
| ILLINGWORTH, Richard Blair | Director | 2004-06-01 | 2005-10-04 |
| JAMES, Paul Anthony | Director | 2018-03-16 | 2023-09-30 |
| JONES, Brian Charles William | Director | 1998-09-09 | 2004-06-11 |
| LAMB, Martin James | Director | 2001-03-01 | 2005-09-02 |
| MCDONALD, Kevin | Director | — | 1999-05-19 |
| MORGAN, Howard | Director | 2005-09-02 | 2007-08-14 |
| MORININGSTAR, John | Director | 2005-09-02 | 2007-04-27 |
| PAYNE, Martin Keith | Director | 2016-05-25 | 2022-02-28 |
| PERREY, Peter | Director | — | 1999-05-19 |
| POINTON, Raymond Barry | Director | 1999-05-25 | 2001-03-01 |
| PULLEN, Matthew Grant | Director | 2021-11-01 | 2023-06-30 |
| RICE, Paul Michael | Director | 2005-10-18 | 2015-12-31 |
| ROBERTS, Victor John | Director | — | 1998-03-31 |
| SABIN, Glen Brian | Director | 2017-10-02 | 2021-11-01 |
| SHEPHERD, Peter David | Director | 2006-02-08 | 2016-05-25 |
| SLACK, Trevor John | Director | 1999-05-25 | 2005-09-02 |
| SMITH, Andrew | Director | 2000-06-30 | 2004-10-07 |
| STOCK, Bryan | Director | — | 1995-11-20 |
| WENDER, Justin Bellows | Director | 2005-10-07 | 2007-08-14 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Paul Anthony James | Individual | Significant influence | 2018-03-16 | Ceased 2022-11-17 |
| Mr Martin Keith Payne | Individual | Significant influence | 2016-05-25 | Ceased 2022-02-28 |
| Mr David Graham Hall | Individual | Significant influence | 2016-04-06 | Ceased 2017-10-02 |
| Pipe Holdings Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 353 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-14 | AA | accounts | Accounts with accounts type full | |
| 2025-11-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-06 | AA | accounts | Accounts with accounts type full | |
| 2024-11-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-04 | AA | accounts | Accounts with accounts type full | |
| 2023-11-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-11-02 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-10 | AA | accounts | Accounts with accounts type full | |
| 2023-10-03 | TM01 | officers | Termination director company with name termination date | |
| 2023-07-05 | TM01 | officers | Termination director company with name termination date | |
| 2022-11-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-17 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2022-11-17 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2022-10-07 | AA | accounts | Accounts with accounts type full | |
| 2022-08-23 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-08-23 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-08-23 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-08-23 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-03-01 | TM01 | officers | Termination director company with name termination date | |
| 2022-02-28 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- 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.