FORTESCUE ZERO LIMITED
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Cash
£10m
+80.5% vs 2024
Net assets
£95m
+200.8% highest in 5 filed years
Employees
948
+30% highest in 5 filed years
Profit before tax
-£160m
-120% lowest in 5 filed years
Watch the reel
Our short-form breakdown of FORTESCUE ZERO LIMITED's latest filing
Fortescue Zero (formerly Williams Advanced Engineering) sees losses widen to £73m as battery manufacturing heads to China. 🔋
Net assets
5-year trend · vs Consumer Discretionary median
Accounts
5-year trend · Δ = latest vs prior filed period · latest reflected 2025-06-30
| Metric | Trend | 2019-12-31 | 2020-12-31 | 2023-06-30 | 2024-06-30 | 2025-06-30 | Δ vs prior |
|---|---|---|---|---|---|---|---|
| Turnover | £63,654,000 | £42,581,000 | £112,623,000 | £111,725,000 | £80,679,000 | -27.8% | |
| Operating profit | £221,000 | -£13,739,000 | -£20,230,000 | -£64,497,000 | -£143,464,000 | -122.4% | |
| Profit before tax | £221,000 | -£14,073,000 | -£22,348,000 | -£72,590,000 | -£159,692,000 | -120% | |
| Net profit | £221,000 | -£14,574,000 | -£22,348,000 | -£72,590,000 | -£162,369,000 | -123.7% | |
| Cash | £8,646,000 | £0 | £12,297,000 | £5,580,000 | £10,070,000 | +80.5% | |
| Total assets less current liabilities | — | — | £66,410,000 | £90,020,000 | £118,832,000 | +32% | |
| Net assets | £25,747,000 | £11,173,000 | -£21,434,000 | -£94,024,000 | £94,795,000 | +200.8% | |
| Equity | £25,747,000 | £11,173,000 | -£21,434,000 | -£94,024,000 | £94,795,000 | +200.8% | |
| Average employees | 264 | 288 | 510 | 729 | 948 | +30% | |
| Wages | — | — | £31,724,000 | £55,928,000 | £69,560,000 | +24.4% | |
| Directors' remuneration | £315,000 | £432,000 | £2,375,000 | £4,376,000 | £1,099,000 | -74.9% |
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 | 2019-12-31 | 2020-12-31 | 2023-06-30 | 2024-06-30 | 2025-06-30 |
|---|---|---|---|---|---|---|
| Operating margin | 0.3% | -32.3% | -18.0% | -57.7% | -177.8% | |
| Net margin | 0.3% | -34.2% | -19.8% | -65.0% | — | |
| Return on capital employed | — | — | -30.5% | -71.6% | -120.7% | |
| Gearing (liabilities / total assets) | — | — | — | 163.8% | 54.6% | |
| Current ratio | — | — | 2.09x | 1.54x | 1.12x | |
| Interest cover | — | -41.13x | -9.55x | -7.97x | -8.71x |
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
- FORTESCUE ZERO LIMITED 2024-06-12 → present
- WAE TECHNOLOGIES LIMITED 2022-11-11 → 2024-06-12
- WILLIAMS ADVANCED ENGINEERING LIMITED 2012-03-29 → 2022-11-11
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The parent company has confirmed its intention to provide ongoing financial support for a period of at least 12 months from the date of signing of these financial statements. On this basis, the financial statements have been prepared on a going concern basis.”
Group structure
- FORTESCUE ZERO LIMITED · parent
- WAE Joint Ventures Limited 100%
Significant events
- “In September 2025, the directors initiated a rightsizing exercise to align the Company's footprint, capabilities and cost base with the parent's long-term strategic priorities. Following consultation with affected employees, the redundancy process has been concluded.”
- “From September 2025 to June 2026, as part of the recapitalisation of the Company, a total of 163,955,332 ordinary shares were issued at par to its parent undertaking.”
- “In December 2025, WAE Joint Ventures Limited disposed of its full interest in Hyperbat Limited for proceeds of £133k.”
- “In January 2026, the Company announced the expansion of its battery intelligence capability, with the acquisition of a US based business.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 24 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| FINCH, Rupert | Secretary | 2022-02-28 | — | — |
| BOLL, Rebecca | Director | 2025-10-15 | Jul 1971 | British |
| FINCH, Rupert | Director | 2023-01-16 | Nov 1978 | British |
| HESTER, Travis Scott | Director | 2026-03-27 | Nov 1971 | Australian,American |
| MCKEIVER, Philip | Director | 2025-05-12 | Jul 1969 | Australian |
| PAGET, Apple | Director | 2025-05-12 | Oct 1977 | Australian |
Show 24 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BIDDLE, Mark | Secretary | 2012-03-29 | 2019-12-31 |
| WILSON, Cameron | Secretary | 2022-02-28 | 2023-04-13 |
| ARMSTRONG, Nicholas Dawborn Tyrrell | Director | 2019-12-31 | 2022-02-28 |
| BIDDLE, Mark | Director | 2012-03-29 | 2019-12-31 |
| BURNS, Alexander Mark | Director | 2012-03-29 | 2013-05-29 |
| COATES, Ellen | Director | 2025-05-12 | 2025-08-12 |
| COPLAND, Christopher John | Director | 2024-06-19 | 2025-05-30 |
| EVANS, Louise Margaret | Director | 2012-03-29 | 2014-11-28 |
| FREUD, Zachary | Director | 2019-12-31 | 2022-02-28 |
| FULTZ, Darren Adam | Director | 2020-10-05 | 2022-02-28 |
| GALES, Jean Marc | Director | 2021-04-14 | 2022-02-28 |
| HUTCHINSON, Richard Mark | Director | 2023-03-12 | 2025-05-30 |
| JOSEPH, Mark William | Director | 2019-12-31 | 2022-02-28 |
| JUDSON, Judith Fletcher | Director | 2023-11-01 | 2024-06-19 |
| KINCH, Alan Royston | Director | 2016-09-16 | 2017-01-31 |
| LAFFERTY, Douglas James | Director | 2017-10-16 | 2020-09-25 |
| LAZARUS, Edmund Alfred | Director | 2019-12-31 | 2022-02-28 |
| O'DRISCOLL, Michael Patrick | Director | 2014-08-18 | 2020-10-05 |
| SAVAGE, Matthew Louis Charles | Director | 2020-10-05 | 2022-02-28 |
| TUALLY, Gemma Louise | Director | 2022-02-28 | 2023-03-12 |
| URDING, Rian | Director | 2025-05-30 | 2025-10-13 |
| WARD, Emily Teresa | Director | 2023-03-12 | 2023-09-04 |
| WELLS, Ian Damien | Director | 2022-02-28 | 2023-01-16 |
| WILSON, Craig Beresford | Director | 2019-12-31 | 2023-11-07 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Fortescue Green Fleet Pty Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-12-21 | Ceased 2023-09-12 |
| Joule Bidco Limited | Corporate entity | Shares 75–100% | 2019-12-31 | Ceased 2022-12-21 |
| Williams Grand Prix Engineering Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2019-12-31 |
Filing timeline
Last 20 of 108 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-08 | TM01 | officers | Termination director company with name termination date | |
| 2026-07-07 | AA | accounts | Accounts with accounts type full | |
| 2026-06-18 | SH01 | capital | Capital allotment shares | |
| 2026-04-01 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-18 | SH01 | capital | Capital allotment shares | |
| 2026-01-12 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-12-16 | SH01 | capital | Capital allotment shares | |
| 2025-10-17 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-17 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-19 | SH01 | capital | Capital allotment shares | |
| 2025-09-05 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-25 | AA | accounts | Accounts with accounts type full | |
| 2025-06-23 | SH01 | capital | Capital allotment shares | |
| 2025-05-30 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-30 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-30 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-16 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-06 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 5
- Officers appointed
- 2
- Officers resigned
- 2
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.