TSL LIMITED
Operating as a wholly owned subsidiary of Tonroe Group Limited, the company provides engineering design services for industrial processes and production facilities.
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Cash
£70m
+41.1% highest in 3 filed years
Net assets
£56m
+28.3% highest in 3 filed years
Employees
372
+47.6% highest in 3 filed years
Profit before tax
£25m
-7% vs 2024
Watch the reel
Our short-form breakdown of TSL LIMITED's latest filing
TSL Projects is the biggest industrial engineering designer in the UK. They just posted nearly £600m in turnover, but the profit margins are feeling the squeeze. 📉🏗️
Net assets
3-year trend · vs Industrials 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 | £296,655,000 | £526,598,000 | £591,586,000 | +12.3% | |
| Operating profit | £9,819,000 | £26,582,000 | £23,151,000 | -12.9% | |
| Profit before tax | £9,898,000 | £26,702,000 | £24,831,000 | -7% | |
| Net profit | £7,374,000 | £19,801,000 | £18,517,000 | -6.5% | |
| Cash | £31,100,000 | £49,425,000 | £69,723,000 | +41.1% | |
| Total assets less current liabilities | £26,394,000 | £49,311,000 | £76,652,000 | +55.4% | |
| Net assets | £25,890,000 | £43,711,000 | £56,068,000 | +28.3% | |
| Equity | £25,890,000 | £43,711,000 | £56,068,000 | +28.3% | |
| Average employees | 193 | 252 | 372 | +47.6% | |
| Wages | £16,495,000 | £23,879,000 | £32,610,000 | +36.6% | |
| Directors' remuneration | £369,000 | £531,000 | £671,000 | +26.4% |
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 | 3.3% | 5.0% | 3.9% | |
| Net margin | 2.5% | 3.8% | 3.1% | |
| Return on capital employed | 37.2% | 53.9% | 30.2% | |
| Gearing (liabilities / total assets) | 80.6% | 78.7% | 75.4% | |
| Current ratio | 1.21x | 1.29x | 1.46x |
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
- TSL LIMITED 2018-11-29 → present
- TSL PROJECTS LIMITED 2003-09-04 → 2018-11-29
- EXCLUSIVE PREVIEW LIMITED 2002-07-23 → 2003-09-04
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Consequently, the Directors are confident the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and have prepared the financial statements on a going concern basis.”
Significant events
- “On 31 March 2026, Rockland Concrete (a division of TSL Limited) was sold to Rockland Concrete Limited in a trade and assets deal for fair market consideration. The turnover and gross profit of the Rockland Concrete division included in the 2025 results is £20.6 million and £2.3 million respectively.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| WILD, Jacqueline | Secretary | 2003-09-04 | — | British |
| BEASLEY, Matthew John | Director | 2024-04-01 | Jan 1984 | British |
| MCDONNELL, Michael Aidan | Director | 2003-09-04 | Apr 1974 | Irish |
| PORTER, Elizabeth | Director | 2021-01-04 | Jul 1963 | British |
| SHARMA, Chetan | Director | 2025-09-26 | Jun 1984 | British |
| WILD, Jacqueline | Director | 2003-09-04 | Jul 1967 | British |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| JAMES, Peta Elizabeth Ann | Nominee Secretary | 2002-07-23 | 2003-09-04 |
| BROOKES, Graeme | Director | 2021-01-04 | 2024-04-01 |
| CARA, Helen Bina | Nominee Director | 2002-07-23 | 2003-09-04 |
| MAGEE, Philip Andrew | Director | 2003-09-04 | 2004-01-15 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tonroe Group Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 95 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-30 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2026-07-30 | AA | accounts | Accounts with accounts type full | |
| 2025-10-07 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-23 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-07-04 | AA | accounts | Accounts with accounts type full | |
| 2024-08-07 | AA | accounts | Accounts with accounts type full | |
| 2024-07-26 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-05-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-04-10 | AP01 | officers | Appoint person director company with name date | |
| 2023-08-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-07-14 | AA | accounts | Accounts with accounts type full | |
| 2022-08-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-07-26 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2022-05-27 | AA | accounts | Accounts with accounts type full | |
| 2022-04-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2021-07-23 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-06-09 | AA | accounts | Accounts with accounts type full | |
| 2021-06-04 | CH01 | officers | Change person director company with change date | |
| 2021-05-25 | AP01 | officers | Appoint person director company with name date | |
| 2021-05-25 | 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
- 1
- 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.