A P P WHOLESALE LIMITED
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Cash
£5.5m
+4,419% vs 2024
Net assets
£31m
-34.7% lowest in 3 filed years
Employees
234
-3.3% lowest in 3 filed years
Profit before tax
£1m
-11.1% lowest in 3 filed years
Watch the reel
Our short-form breakdown of A P P WHOLESALE LIMITED's latest filing
APP Wholesale is one of the biggest plumbing distributors in the UK, but massive revenue doesn't always equal massive profit. 🪠📉
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 | £220,851,626 | £199,122,000 | £194,537,000 | -2.3% | |
| Operating profit | £4,938,798 | £384,000 | £108,000 | -71.9% | |
| Profit before tax | £5,158,559 | £1,157,000 | £1,028,000 | -11.1% | |
| Net profit | £4,116,711 | £1,970,000 | £1,071,000 | -45.6% | |
| Cash | £11,022,635 | £121,000 | £5,468,000 | +4,419% | |
| Total assets less current liabilities | £47,475,959 | £49,926,000 | £34,038,000 | -31.8% | |
| Net assets | £45,100,980 | £47,280,000 | £30,867,000 | -34.7% | |
| Equity | £45,100,980 | £47,280,000 | £30,867,000 | -34.7% | |
| Average employees | 253 | 242 | 234 | -3.3% | |
| Wages | £9,367,964 | £8,918,000 | £8,878,000 | -0.4% | |
| Directors' remuneration | £618,927 | £493,000 | £606,000 | +22.9% |
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 | 2.2% | 0.2% | 0.1% | |
| Net margin | 1.9% | 1.0% | 0.6% | |
| Return on capital employed | 10.4% | 0.8% | 0.3% | |
| Gearing (liabilities / total assets) | — | 51.1% | 62.1% | |
| Current ratio | 1.57x | 1.73x | 1.37x | |
| Interest cover | 8.85x | 1.61x | 0.34x |
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
- A P P WHOLESALE LIMITED 2019-11-26 → present
- A P P WHOLESALE PLC 2008-04-02 → 2019-11-26
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Abridged
- Yes — abridged accounts (limited disclosure)
- Auditor
- Grant Thornton UK LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Company considers that it will be able to meet its liabilities as they fall due for a period of at least 12 months from the date of approval of these financial statements having received a letter of support from Lords Group Trading plc, the ultimate parent company, to provide funding as required, in addition to not requiring the repayment of any amounts advanced to the Company by any members of the Group unless adequate alternative financing has been obtained by the Company.”
Group structure
- A P P WHOLESALE LIMITED · parent
- DH&P HRP Holdings Limited 90%
- DH&P Trade Counter Holdings Limited 90%
- Direct Heating and Plumbing Merchants Limited 90%
- Direct Heating and Plumbing Trade Counters Limited 90%
- Ultimate Renewables Supplies Limited 90%
Significant events
- “On 13 January 2026, the Company purchased the 3.6% minority interest held by one of the former owners of its subsidiaries, DH&P Trade Counters Holdings Limited and DH&P HRP Holdings Limited, for total consideration of £0.5 million, increasing the Company's ownership of this business to 93.6%.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
7 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ALCRAFT, Matthew James | Director | 2025-01-17 | Nov 1979 | British |
| BECKINGHAM, David James | Director | 2025-12-16 | Jul 1972 | British |
| KILPATRICK, Stuart Charles | Director | 2024-06-04 | Oct 1962 | British |
| LAKE, Neil Simon | Director | 2023-06-01 | Nov 1964 | British |
| PATEL, Shanker Bhupendrabhai | Director | 2019-12-06 | Feb 1971 | British |
| STANFORD, Craig | Director | 2022-01-25 | May 1985 | British |
| WEBBER, Matthew William David | Director | 2025-09-16 | May 1979 | British |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BROCKMAN, Michael John | Secretary | 2008-04-02 | 2019-12-06 |
| PATEL, Rajen Bhupendrabhai | Secretary | 2019-12-06 | 2021-06-24 |
| WATERLOW SECRETARIES LIMITED | Corporate Secretary | 2008-04-02 | 2008-04-02 |
| BROCKMAN, Michael John | Director | 2008-04-02 | 2024-09-30 |
| DAY, Christopher Michael | Director | 2019-12-06 | 2024-05-17 |
| FULTON, David | Director | 2008-04-02 | 2021-06-09 |
| HOLTON, Timothy David | Director | 2019-12-06 | 2021-11-16 |
| KNIGHT, Shane | Director | 2023-06-01 | 2025-11-03 |
| PIERCE, Allan Paul | Director | 2008-04-02 | 2021-05-31 |
| PIERCE, Matthew David | Director | 2008-04-02 | 2022-07-05 |
| SNELL, Stuart Brian | Director | 2011-11-03 | 2023-06-01 |
| WATERLOW NOMINEES LIMITED | Corporate Director | 2008-04-02 | 2008-04-02 |
| WATERLOW SECRETARIES LIMITED | Corporate Director | 2008-04-02 | 2008-04-02 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Lords Builders Merchants Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-06-07 | Active |
| Lords Group Trading Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-12-06 | Ceased 2021-06-07 |
| Mr Allan Paul Pierce | Individual | Shares 75–100% | 2016-04-06 | Ceased 2019-12-06 |
Filing timeline
Last 20 of 126 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-21 | AA | accounts | Accounts with accounts type full | |
| 2026-04-09 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-04-07 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-01-25 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-30 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-25 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-29 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-14 | AA | accounts | Accounts with accounts type full | |
| 2025-06-17 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-06-17 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-02-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-01-27 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-08 | AA | accounts | Accounts with accounts type full | |
| 2024-07-23 | CH01 | officers | Change person director company with change date | |
| 2024-06-12 | AP01 | officers | Appoint person director company with name date | |
| 2024-05-29 | TM01 | officers | Termination director company with name termination date | |
| 2024-02-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-25 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-10-25 | MR04 | mortgage | Mortgage satisfy charge full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 0
- Officers appointed
- 2
- 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.