BAE SYSTEMS GCS INTERNATIONAL LIMITED
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Cash
£41M
+19.8% highest in 3 filed years
Net assets
£60M
-53.5% lowest in 3 filed years
Employees
253
+15.5% highest in 3 filed years
Profit before tax
£34M
-3% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The financial statements have been prepared on the going concern basis, notwithstanding net current liabilities of £30,313k (2024: £33,837k). The Company is dependent for its working capital on funds provided to it by BAE Systems plc, its ultimate parent, who has indicated it will continue to make funds available for at least 12 months from the date of approval of these financial statements. The directors acknowledge there can be no certainty that this support will continue.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Industrials 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 | £109,234,000 | £156,728,000 | £194,780,000 | +24.3% | |
| Operating profit | £25,988,000 | £34,564,000 | £33,728,000 | -2.4% | |
| Profit before tax | £25,459,000 | £35,101,000 | £34,056,000 | -3% | |
| Net profit | £24,452,000 | £34,454,000 | £23,828,000 | -30.8% | |
| Cash | £41,000 | £33,940,000 | £40,646,000 | +19.8% | |
| Total assets less current liabilities | £98,428,000 | £138,658,000 | £72,527,000 | -47.7% | |
| Net assets | £96,521,000 | £129,564,000 | £60,233,000 | -53.5% | |
| Equity | £96,521,000 | £129,564,000 | £60,233,000 | -53.5% | |
| Average employees | 198 | 219 | 253 | +15.5% | |
| Wages | £11,965,000 | £13,327,000 | £15,914,000 | +19.4% | |
| Directors' remuneration | £346,000 | £381,000 | £379,000 | -0.5% |
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 | 23.8% | 22.1% | 17.3% | |
| Net margin | 22.4% | 22.0% | 12.2% | |
| Return on capital employed | 26.4% | 24.9% | 46.5% | |
| Gearing (liabilities / total assets) | 49.5% | 37.2% | 58.0% | |
| Current ratio | 0.36x | 1.00x | 1.15x | |
| Interest cover | 22.90x | — | — |
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
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The financial statements have been prepared on the going concern basis, notwithstanding net current liabilities of £30,313k (2024: £33,837k). The Company is dependent for its working capital on funds provided to it by BAE Systems plc, its ultimate parent, who has indicated it will continue to make funds available for at least 12 months from the date of approval of these financial statements. The directors acknowledge there can be no certainty that this support will continue.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAE SYSTEMS CORPORATE SECRETARY LIMITED | Corporate Secretary | 2025-09-17 | — | — |
| BARSHINGER, Matthew Gregory | Director | 2025-03-01 | May 1974 | American |
| BORTON, John Aubrey Lodge | Director | 2023-01-24 | Dec 1988 | British |
| MILLER II, John | Director | 2022-12-08 | Jun 1961 | American |
| TYSON, Katrina | Director | 2026-01-14 | Jun 1988 | British |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| EFFANGA, Betse Geraldine | Secretary | 2024-12-18 | 2025-09-17 |
| HOLDING, Ann-Louise | Secretary | 2019-02-14 | 2024-12-18 |
| ELDRIDGE, Alice M. | Director | 2019-06-04 | 2022-12-08 |
| GRAHAM, Ian Thomas | Director | 2019-02-14 | 2019-05-24 |
| HOWAT, David Scott | Director | 2019-02-14 | 2022-10-21 |
| MCLEAN, Sallyann | Director | 2019-02-14 | 2026-01-14 |
| OLIVET, Tara Wilcox | Director | 2022-10-25 | 2025-03-01 |
| RAYCHAWDHURI, Bijon Neil | Director | 2022-10-21 | 2022-10-21 |
| STEVENSON, James Duncan | Director | 2019-02-14 | 2022-12-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Bae Systems (Holdings) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-02-14 | Active |
Filing timeline
Last 20 of 41 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-03 | AA | accounts | Accounts with accounts type full | |
| 2026-03-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-01-19 | AP01 | officers | Appoint person director company with name date | |
| 2026-01-19 | TM01 | officers | Termination director company with name termination date | |
| 2025-09-24 | AA | accounts | Accounts with accounts type full | |
| 2025-09-18 | AP04 | officers | Appoint corporate secretary company with name date | |
| 2025-09-18 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-04-24 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-16 | TM01 | officers | Termination director company with name termination date | |
| 2025-02-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-02-13 | CH01 | officers | Change person director company with change date | |
| 2024-12-23 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-12-18 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-08-09 | AA | accounts | Accounts with accounts type full | |
| 2024-02-13 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-12-14 | CH03 | officers | Change person secretary company with change date | |
| 2023-12-14 | CH01 | officers | Change person director company with change date | |
| 2023-12-12 | CH01 | officers | Change person director company with change date | |
| 2023-12-06 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-12-04 | AD01 | address | Change registered office address company with date old address new address |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 0
- 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.