LOWE P27 BIDCO LIMITED
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Cash
—
Latest balance sheet
Net assets
-£95M
-21.7% lowest in 3 filed years
Employees
41
+7.9% highest in 3 filed years
Profit before tax
-£18M
+9.9% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The financial statements are prepared on the going concern basis, notwithstanding net current liabilities of £175.7m (31 December 2024: £38.7m) and net liabilities of £95.1m (31 December 2024: £78.2m) which the directors believe to be appropriate for the following reasons. The Company is dependent for its working capital on funds provided to it by fellow Group undertakings. The Company's ultimate undertaking has indicated that for at least 12 months from the date of approval of these financial statements, it will continue to make available such funds as are needed by the Company and in particular does not intend to seek repayment of the amounts currently made available.
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
Going-concern uncertainty disclosed
-
Negative shareholders' funds
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 | £4,137,408 | £6,298,804 | — | — | |
| Operating profit | -£514,621 | -£4,602,106 | -£764,670 | +83.4% | |
| Profit before tax | -£14,118,620 | -£20,160,368 | -£18,161,987 | +9.9% | |
| Net profit | -£14,118,620 | -£20,160,368 | -£18,161,987 | +9.9% | |
| Cash | — | — | — | — | |
| Total assets less current liabilities | £22,592,809 | £41,881,445 | -£95,146,829 | -327.2% | |
| Net assets | -£58,051,474 | -£78,211,842 | -£95,146,829 | -21.7% | |
| Equity | -£58,051,474 | -£78,211,842 | -£95,146,829 | -21.7% | |
| Average employees | 36 | 38 | 41 | +7.9% | |
| Wages | £2,652,901 | £3,025,866 | £3,372,857 | +11.5% | |
| Directors' remuneration | £554,319 | £642,846 | £623,214 | -3.1% |
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 | -12.4% | -73.1% | — | |
| Return on capital employed | -2.3% | -11.0% | — | |
| Gearing (liabilities / total assets) | 152.7% | 154.5% | — | |
| Current ratio | 0.34x | 0.62x | 0.29x | |
| Interest cover | -0.03x | -0.20x | -0.03x |
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 1 time since incorporation
- LOWE P27 BIDCO LIMITED 2020-10-23 → present
- P27 BIDCO LIMITED 2018-03-06 → 2020-10-23
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- KPMG
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The financial statements are prepared on the going concern basis, notwithstanding net current liabilities of £175.7m (31 December 2024: £38.7m) and net liabilities of £95.1m (31 December 2024: £78.2m) which the directors believe to be appropriate for the following reasons. The Company is dependent for its working capital on funds provided to it by fellow Group undertakings. The Company's ultimate undertaking has indicated that for at least 12 months from the date of approval of these financial statements, it will continue to make available such funds as are needed by the Company and in particular does not intend to seek repayment of the amounts currently made available.”
Group structure
- LOWE P27 BIDCO LIMITED · parent
- Frost Investments Limited 100%
- Lowe Refrigeration Solutions Limited 100%
- Lowe Rental Pte Limited 100%
- Lowe Rental Ltd 100%
- Lowe Rental Inc 100%
- Lowe Refrigeration Deutschland GmbH 100%
- Lotsenbüro für temporäre Bauten und mobile Lösungen GmbH 100%
- Lowe Rental Limited 100%
- Lowe Refrigeration Italia Srl 100%
- Lowe Refrigeration LLC 49%
- Lowe Rental Limited 100%
- Lowe Refrigeration Spain SL 100%
- PKL Topco Limited 100%
- PKL Group (UK) Ltd 100%
- Abbey Design Associates (Gloucester) Limited 100%
- LoweConex Group Limited 100%
- Lowe Arabia Rental Equipment LLC 100%
Significant events
- “On 28 January 2026 the entire share capital of P27 Topco Limited was acquired by Ermine Bidco Limited, a company incorporated and registered in England and Wales. As a result, the ultimate controlling party is Ermine Investco Limited, a company incorporated and registered in England and Wales.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 7 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DOWDS, Colin Nigel | Director | 2026-01-28 | Oct 1985 | British |
| MCCAUSLAND, Rachel | Director | 2022-03-28 | Apr 1985 | British |
Show 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BLOWER, Mark | Director | 2018-03-06 | 2026-01-28 |
| DAVIDSSON, Nils Olle | Director | 2022-03-28 | 2022-09-01 |
| LAVERY, Paul | Director | 2018-03-10 | 2022-03-28 |
| LOWRY, Rodney | Director | 2018-03-10 | 2026-01-28 |
| MCCALL, David Alexander Mervyn | Director | 2018-03-10 | 2018-08-31 |
| PAPE, Christopher Simon | Director | 2022-09-01 | 2026-01-28 |
| WYNN, Andrew Thomas | Director | 2018-03-06 | 2022-03-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| P27 Midco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-03-06 | Active |
Filing timeline
Last 20 of 58 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-05 | AA | accounts | Accounts with accounts type full | |
| 2026-03-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-03-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-05 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-03-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-03-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2026-02-03 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-02 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-03 | AA | accounts | Accounts with accounts type full | |
| 2025-06-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-06-27 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-03-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-06 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 16
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 3
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.