PULSE CLEAN ENERGY LIMITED
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Cash
£3.1m
-82.6% vs 2024
Net assets
£205m
+41.6% highest in 5 filed years
Employees
—
Average over period
Profit before tax
£40m
+328.9% highest in 5 filed years
Net assets
5-year trend · vs Utilities median
Accounts
5-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2021-05-31 | 2022-05-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|
| Turnover | £15,426,011 | £16,360,239 | £14,960,000 | £18,813,000 | £13,466,000 | -28.4% | |
| Operating profit | £9,682,894 | £4,848,636 | £4,113,000 | -£11,857,000 | -£18,111,000 | -52.7% | |
| Profit before tax | £351,744 | -£2,049,716 | -£5,318,000 | -£17,268,000 | £39,532,000 | +328.9% | |
| Net profit | — | — | -£5,229,000 | -£16,870,000 | £42,462,000 | +351.7% | |
| Cash | £2,895,397 | £7,970,886 | £20,223,000 | £17,613,000 | £3,072,000 | -82.6% | |
| Total assets less current liabilities | £52,521,824 | £54,394,887 | £114,579,000 | £196,800,000 | £289,569,000 | +47.1% | |
| Net assets | £6,974,279 | £3,807,376 | £80,569,000 | £144,845,000 | £205,076,000 | +41.6% | |
| Equity | £6,974,279 | £3,807,376 | £80,569,000 | £144,845,000 | £205,076,000 | +41.6% | |
| Average employees | 7 | 9 | 23 | — | — | — | |
| Wages | — | — | £3,015,000 | £31,000 | — | — | |
| Directors' remuneration | — | — | £1,288,000 | — | £799,000 | — |
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 | 2021-05-31 | 2022-05-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|---|---|
| Operating margin | 62.8% | 29.6% | 27.5% | -63.0% | -134.5% | |
| Net margin | — | — | -35.0% | -89.7% | — | |
| Return on capital employed | 18.4% | 8.9% | 3.6% | -6.0% | -6.3% | |
| Gearing (liabilities / total assets) | — | — | 66.1% | 58.2% | — | |
| Current ratio | — | — | 0.54x | 0.65x | 4.45x | |
| Interest cover | 1.03x | 0.70x | 0.44x | -1.53x | -1.55x |
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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- PULSE CLEAN ENERGY LIMITED 2022-01-27 → present
- GREEN FROG POWER LIMITED 2010-04-26 → 2022-01-27
- GREEN FROG GRID NE LIMITED 2009-10-26 → 2010-04-26
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Having considered the above, the Directors have determined that there are no material uncertainties relating to events or conditions that may cast significant doubt upon the Group's ability to continue as a going concern, and consider it appropriate to prepare the financial statements on the going concern basis of accounting.”
Group structure
- PULSE CLEAN ENERGY LIMITED · parent
- Pulse Clean Energy UK Limited 100%
- Pulse Clean Energy SPV Bell Limited 100%
- Pulse Clean Energy SPV Cavendish Limited 100%
- Pulse Clean Energy SPV Anning Limited 100%
- Pulse Clean Energy SPV Watt Limited 100%
- Pulse Clean Energy SPV Anderson Limited 100%
- Pulse Clean Energy SPV Freehold Anderson Limited 100%
- Pulse Clean Energy SPV Johnson 1 Limited 100%
- Pulse Clean Energy SPV Johnson 2 Limited 100%
- Pulse Clean Energy SPV Johnson 3 Limited 100%
Significant events
- “During the year, the Company disposed of two entities, being Pulse Clean Energy SPV Franklin Ltd and Pulse Clean Energy SPV Rubin Ltd, to a fellow group company Pulse Clean Energy Holdings Ltd. This resulted in a gain on disposal of £65.8m reflecting the consideration of £53.3m and the net disposal of liabilities.”
- “At the end of the year, the Company sold its investments in Pulse Clean Energy SPV Rubin Limited and Pulse Clean Energy SPV Franklin Limited to Pulse Clean Energy Holdings Limited, the immediate parent company of the Group.”
- “Subsequent to the reporting date, the Pulse Clean Energy SPV Watt Ltd entered into a settlement agreement in relation to claims arising from the liquidation of a contractor during the year and the associated breach of contract. Under the terms of the agreement, the Company has received cash proceeds of $6.3 million (£4.7 million) after the reporting date.”
- “On 16/04/2026, Pulse Clean Energy SPV Johnson 1 Limited entered into a Balance of Plant contract worth £20.5m.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 26 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KAY, Alison Barbara | Director | 2022-01-25 | May 1964 | British |
| SIMS, Polina | Director | 2021-10-06 | Mar 1978 | Canadian |
| WILLS, Trevor Alexander | Director | 2023-10-26 | Oct 1983 | British,Canadian |
Show 26 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BEAUMONT, Neil Geoffrey | Secretary | 2014-05-30 | 2018-09-26 |
| BEENY, John Peter | Secretary | 2010-09-13 | 2010-12-20 |
| GUDGEON, Richard Keith | Secretary | 2010-12-20 | 2014-05-30 |
| IRVING-BELL, John | Secretary | 2009-10-26 | 2010-09-13 |
| BATES, David Philip Geoffrey | Director | 2018-10-12 | 2020-10-16 |
| BEAUMONT, Neil Geoffrey | Director | 2016-02-24 | 2018-09-26 |
| BEENY, John Peter | Director | 2009-10-26 | 2011-06-07 |
| BELLIZIA, Guilio | Director | 2014-05-28 | 2019-02-06 |
| CATTO, Ivor Douglas | Director | 2023-04-26 | 2024-06-04 |
| CHAMIE, Nick | Director | 2022-07-19 | 2022-12-21 |
| COLES, Joseph Tidboald | Director | 2010-07-19 | 2011-02-10 |
| CRAIG, Gareth Irons | Director | 2016-01-20 | 2019-02-06 |
| CRAWFORD, Richard | Director | 2011-06-07 | 2014-05-30 |
| ENTRACT, Jonathan Mark | Director | 2019-02-06 | 2020-12-08 |
| FORMUZIEWICH, Timothy Gerald | Director | 2021-10-06 | 2022-07-19 |
| GARCIA, Carlos Abuin | Director | 2019-02-06 | 2020-12-08 |
| GUDGEON, Richard Keith | Director | 2011-02-08 | 2014-05-30 |
| HALL-SMITH, James Edward | Director | 2011-06-07 | 2020-12-08 |
| JONES, Mark Wesley | Director | 2009-10-27 | 2021-10-06 |
| MASSARA, Paul Joseph | Director | 2022-01-25 | 2023-11-30 |
| MENDES, Matthew | Director | 2021-10-06 | 2024-06-04 |
| STONE, Andrew Peter | Director | 2017-01-19 | 2019-05-31 |
| TAYLOR, Jeremy William Kirwan | Director | 2009-10-26 | 2021-10-06 |
| TOWNSHEND, Henry Roscoe | Director | 2017-01-19 | 2020-10-16 |
| WILLS, Trevor Alexander | Director | 2022-12-21 | 2023-04-26 |
| WILLS, Trevor Alexander | Director | 2021-10-06 | 2022-06-07 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Pulse Clean Energy Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-10-06 | Active |
| Gfp (Holdings) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2021-10-06 |
| Infrared Capital Partners (Management) Llp | Corporate entity | Significant influence | 2016-04-06 | Ceased 2020-12-08 |
Filing timeline
Last 20 of 165 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-01-07 RESOLUTIONS Resolution
- 2024-06-13 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-14 | AA | accounts | Accounts with accounts type group | |
| 2026-03-02 | SH01 | capital | Capital allotment shares | |
| 2025-11-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-08 | AA | accounts | Accounts with accounts type group | |
| 2025-08-04 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-08-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-24 | SH01 | capital | Capital allotment shares | |
| 2025-01-17 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2025-01-07 | RESOLUTIONS | resolution | Resolution | |
| 2024-12-17 | SH01 | capital | Capital allotment shares | |
| 2024-12-17 | SH01 | capital | Capital allotment shares | |
| 2024-10-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-26 | CH01 | officers | Change person director company with change date | |
| 2024-09-13 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-06-13 | RESOLUTIONS | resolution | Resolution | |
| 2024-06-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-06-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-17 | AA | accounts | Accounts with accounts type group | |
| 2024-05-15 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-12-01 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 4
- 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.