NAVARINO (UK) LIMITED
Get an alert when NAVARINO (UK) LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Cash
£19m
USD 24,900,281
+99% highest in 3 filed years
Net assets
£37m
USD 50,001,171
+22.6% highest in 3 filed years
Employees
315
+25.5% highest in 3 filed years
Profit before tax
£22m
USD 29,009,537
+25.3% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
4 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
3 PSCs ceased in last 24 months
Significant control changed hands — see the Ownership section.
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 | £88,449,520 | £108,105,344 | £142,460,546 | +31.8% | |
| Operating profit | £14,069,770 | £18,465,127 | £24,277,044 | +31.5% | |
| Profit before tax | £13,383,973 | £17,201,670 | £21,560,414 | +25.3% | |
| Net profit | £12,429,242 | £15,731,407 | £19,368,343 | +23.1% | |
| Cash | £10,115,492 | £9,298,809 | £18,506,340 | +99% | |
| Total assets less current liabilities | £38,970,796 | £43,714,152 | £70,605,723 | +61.5% | |
| Net assets | £23,838,291 | £30,306,033 | £37,161,777 | +22.6% | |
| Equity | £23,838,291 | £30,306,033 | £37,161,777 | +22.6% | |
| Average employees | 207 | 251 | 315 | +25.5% | |
| Wages | £7,266,029 | £9,114,334 | £13,673,303 | +50% | |
| Directors' remuneration | £1,325,766 | £1,322,424 | £2,415,312 | +82.6% |
Figures converted to GBP from USD at 0.743 per USD (Frankfurter spot rate) — hover any figure for the original. — 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 | 15.9% | 17.1% | 17.0% | |
| Net margin | 14.1% | 14.6% | 13.6% | |
| Return on capital employed | 36.1% | 42.2% | 34.4% | |
| Gearing (liabilities / total assets) | 56.7% | 47.2% | 58.0% | |
| Current ratio | 1.94x | 2.62x | 3.09x | |
| Interest cover | 20.52x | 14.61x | 8.94x |
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.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- BURGESS HODGSON AUDIT LIMITED
- 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 Group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”
Group structure
- NAVARINO (UK) LIMITED · parent
- Navarino Technology CY Limited 100%
- Navarino Single Member S.A. 100%
- Navarino PTE Ltd 100%
- Navarino HK Limited 100%
- Navarino Germany GMBH 100%
- Navarino USA Corp. 100%
- Forecode S.A. 60%
- Navarino Dubai DMCC 100%
- Navarino Elements P.C. 80%
- Navarino Elements CY Ltd 80%
- Navarino Japan 51%
- Castor Communications B.V. 100%
- Castor Platform Services B.V. 100%
- Castor Networks B.V. 100%
- Castor Marine B.V. 100%
- Castor Networks Fixed Services B.V. 100%
Significant events
- “On 11 February 2026, the Group entered into an amendment and restatement agreement in relation to the loan originally dated 30 May 2019, between Navarino (UK) Ltd and Santander UK PLC, for which the Group acts as guarantor. Under the terms of the amendment agreement, the revolving loan facility was increased from $60,275,000 to $90,275,000, representing an aggregate increase of $30,000,000.”
- “Depending on the duration of the conflict between Russia and Ukraine, the Israel-Gaza conflict and continued negative impact on economic activity, the Group might experience further negative results, and liquidity restraints and incur additional impairments on its assets in 2026 which relate to new developments that occurred after the reporting period.”
- “In early 2026 the Group announced that its founders Dimitris and Panos Tsikopoulos have entered into an agreement with ICG's European Corporate team to support the next stage of the Group's growth. As part of the transaction, the Group's founders will reinvest in the business, while existing investor Viasat will exit. ICG will collaborate closely with Dimitris and Panos Tsikopoulos, who will retain control of the Group, providing a bespoke financing solution to support their long-term strategic objectives.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BEMPEDELIS, Dimitrios | Director | 2026-03-19 | May 1973 | Greek |
| KASIMATI, Dafni Olga Effimia | Director | 2026-03-19 | Dec 1991 | Greek |
| KYRIAKOPOULOS, Athanasios | Director | 2023-12-07 | Aug 1969 | Greek |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BROUGH, Raymond Anthony | Director | 2015-11-24 | 2023-11-12 |
| EXARCHOS, Nicholas | Director | 2016-03-16 | 2026-03-19 |
| GUSTAVSSON, Hans Fredrik | Director | 2021-11-05 | 2024-05-31 |
| HORROCKS, Alison Claire | Director | 2015-12-30 | 2026-03-19 |
| MCDOUGAL, Patrick | Director | 2016-03-16 | 2017-03-22 |
| ROITHNER, Richard | Director | 2024-07-01 | 2026-03-19 |
| SPITHOUT, Ronald Hendrikus Wilhelmus | Director | 2019-01-23 | 2021-11-05 |
| TSIKOPOULOS, Panagiotis | Director | 2015-12-30 | 2026-03-19 |
| TUCKER, Timothy James | Director | 2017-03-22 | 2019-01-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Inmarsat Solutions Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2026-03-19 |
| Panagiotis Tsikopoulos | Individual | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2026-03-19 |
| Mr Dimitrios Tsikopoulos | Individual | Shares 25–50%, Voting 25–50% | 2016-04-06 | Ceased 2026-03-19 |
Filing timeline
Last 20 of 83 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-04-16 RESOLUTIONS Resolution
- 2026-04-16 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-10 | AA | accounts | Accounts with accounts type group | |
| 2026-04-16 | RESOLUTIONS | resolution | Resolution | |
| 2026-04-16 | MA | incorporation | Memorandum articles | |
| 2026-04-15 | PSC08 | persons-with-significant-control | Notification of a person with significant control statement | |
| 2026-03-26 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-26 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-26 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2026-03-24 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2026-03-24 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2026-03-24 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-24 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-24 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-24 | AP01 | officers | Appoint person director company with name date | |
| 2026-03-18 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-03-17 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-13 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-01-29 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2025-12-09 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-11-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-31 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 19
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 4
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.