INDUSTRIAL PHYSICS PRODUCT INTEGRITY LIMITED
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Cash
£159K
-39.3% vs 2023
Net assets
£26M
+377.1% vs 2023
Employees
54
+28.6% vs 2023
Profit before tax
-£1.6M
-725.7% vs 2023
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £7,526,123 | £9,074,846 | +20.6% | |
| Operating profit | £215,996 | £200,317 | -7.3% | |
| Profit before tax | £250,092 | -£1,564,852 | -725.7% | |
| Net profit | £172,577 | -£1,608,844 | -1,032.2% | |
| Cash | £261,271 | £158,568 | -39.3% | |
| Total assets less current liabilities | £6,209,326 | £27,491,697 | +342.7% | |
| Net assets | £5,552,236 | £26,487,544 | +377.1% | |
| Equity | £5,552,236 | £26,487,544 | +377.1% | |
| Average employees | 42 | 54 | +28.6% | |
| Wages | £2,853,304 | £2,993,351 | +4.9% | |
| Directors' remuneration | £173,504 | £152,325 | -12.2% |
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 |
|---|---|---|---|
| Operating margin | 2.9% | 2.2% | |
| Net margin | 2.3% | -17.7% | |
| Return on capital employed | 3.5% | 0.7% | |
| Gearing (liabilities / total assets) | 32.4% | 43.1% | |
| Current ratio | 3.46x | 0.60x | |
| Interest cover | 6.33x | 2.36x |
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 3 times since incorporation
- INDUSTRIAL PHYSICS PRODUCT INTEGRITY LIMITED 2020-05-15 → present
- SYSTECH INSTRUMENTS LIMITED 2002-03-21 → 2020-05-15
- MADDERLAKE SCIENTIFIC LIMITED 1994-01-28 → 2002-03-21
- MADDERLAKE ENTERPRISES LIMITED 1991-03-13 → 1994-01-28
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Wenn Townsend
- 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. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.”
Group structure
- INDUSTRIAL PHYSICS PRODUCT INTEGRITY LIMITED · parent
- Industrial Physics China Co., Ltd 100%
- Torus Technology Group Limited 100%
- Torus Measurement Systems Limited 100%
- Torus Automation Limited 100%
- Torus Americas Inc. 100%
- MP Calibration Services Limited 100%
Significant events
- “On 28 June 2024, the company acquired 100% of the issued share capital of Torus Technology Group Limited, obtaining control. The principal activity of Torus Technology Group Limited is a holding company for a group that manufacture special purpose dimensional measurement equipment. Exceptional expenses incurred as part of the Torus Group acquisition during the year.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BUTLER, Leigh Kelly | Director | 2021-10-01 | Jun 1976 | British |
| LYON, Barry Robert | Director | 2024-02-23 | Feb 1978 | American |
| WEYERS, John Russell | Director | 2024-02-23 | Jul 1984 | American |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CUMMINGS, Bryan | Secretary | 1998-01-14 | 1999-02-09 |
| HANKS, Stephen Edward | Secretary | 1999-02-09 | 2017-01-31 |
| HIGGS, Philippa | Secretary | 1991-05-13 | 1998-01-14 |
| COMBINED SECRETARIAL SERVICES LIMITED | Corporate Nominee Secretary | 1991-03-13 | 1991-05-13 |
| CUMMINGS, Bryan | Director | 1991-05-13 | 2017-01-31 |
| HIGGS, Philippa | Director | 1991-05-13 | 1998-01-14 |
| LACROSSE, Michael James | Director | 2017-01-31 | 2018-12-15 |
| LINDEMANN, Douglas John | Director | 2017-01-31 | 2021-11-11 |
| NEVILLE, James Patrick | Director | 2017-01-31 | 2023-10-31 |
| RUTTER, Ronald | Director | 1991-05-13 | 2001-07-01 |
| THUON, Michael Andrew | Director | 2018-11-12 | 2024-03-15 |
| WINSON, Robert John | Director | 1991-05-13 | 2017-01-31 |
| COMBINED SECRETARIAL SERVICES LIMITED | Corporate Nominee Director | 1991-03-13 | 1991-05-13 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Kkr & Co Inc | Corporate entity | Shares 75–100%, Voting 75–100% | 2023-07-19 | Active |
| University Of Texas Endowment | Corporate entity | Significant influence | 2017-03-12 | Ceased 2017-03-12 |
| Peter Mcguire | Individual | Significant influence | 2017-01-31 | Ceased 2023-07-19 |
| Morgan Jones | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-01-31 | Ceased 2023-07-19 |
Filing timeline
Last 20 of 151 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-12-22 | AA | accounts | Accounts with accounts type full | |
| 2025-03-21 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-02-05 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2025-01-14 | SH01 | capital | Capital allotment shares | |
| 2024-05-10 | AA | accounts | Accounts with accounts type full | |
| 2024-04-18 | TM01 | officers | Termination director company with name termination date | |
| 2024-03-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-03-17 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2024-03-17 | PSC09 | persons-with-significant-control | Withdrawal of a person with significant control statement | |
| 2024-03-14 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-02-26 | AP01 | officers | Appoint person director company with name date | |
| 2024-02-26 | AP01 | officers | Appoint person director company with name date | |
| 2023-12-21 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-12-19 | PSC08 | persons-with-significant-control | Notification of a person with significant control statement | |
| 2023-12-11 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-12-08 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2023-11-03 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-02 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-08-02 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-08-02 | MR04 | mortgage | Mortgage satisfy charge full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 1
- Capital events
- 2
- 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.