XLINKS LIMITED
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Cash
£5.6M
-82.7% vs 2024
Net assets
-£14M
-141.5% lowest in 6 filed years
Employees
87
+61.1% highest in 6 filed years
Profit before tax
-£57M
-46.6% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
-
Negative shareholders' funds
Net assets
6-year trend · vs Technology median
Accounts
6-year trend · Δ = latest vs prior filed period · latest reflected 2025-08-31
| Metric | Trend | 2020-03-31 | 2021-08-31 | 2022-08-31 | 2023-08-31 | 2024-08-31 | 2025-08-31 | Δ vs prior |
|---|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | — | — | — | — | |
| Operating profit | — | — | — | -£17,167,082 | -£40,966,928 | -£57,168,045 | -39.5% | |
| Profit before tax | — | — | — | -£17,140,017 | -£38,999,956 | -£57,186,985 | -46.6% | |
| Net profit | — | — | — | -£17,140,017 | -£39,164,209 | -£55,785,921 | -42.4% | |
| Cash | — | — | £90,320 | £20,526,600 | £32,127,916 | £5,571,568 | -82.7% | |
| Total assets less current liabilities | £736,536 | £2,879,793 | £14,407,702 | £26,764,956 | £33,705,371 | £7,142,703 | -78.8% | |
| Net assets | — | — | — | £26,764,956 | £33,686,008 | -£13,993,438 | -141.5% | |
| Equity | £736,536 | £2,879,793 | £14,407,702 | £26,764,956 | £33,686,008 | — | — | |
| Average employees | 0 | 2 | 8 | 29 | 54 | 87 | +61.1% | |
| Wages | — | — | — | £1,321,477 | £5,679,466 | £9,383,071 | +65.2% | |
| Directors' remuneration | — | — | — | £422,711 | £965,650 | £1,234,663 | +27.9% |
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 | 2020-03-31 | 2021-08-31 | 2022-08-31 | 2023-08-31 | 2024-08-31 | 2025-08-31 |
|---|---|---|---|---|---|---|---|
| Return on capital employed | — | — | — | -64.1% | -121.5% | -800.4% | |
| Gearing (liabilities / total assets) | — | — | — | — | 18.6% | 227.1% | |
| Current ratio | — | — | — | 7.74x | 5.35x | 2.79x | |
| Interest cover | — | — | — | — | — | -54.24x |
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 102
- Reporting scope
- Consolidated group
- Auditor
- Cooper Parry Group Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Based on their assessment of the Company's forecast cash flows, the Directors of Xlinks Limited have a reasonable expectation that the Xlinks Group will have adequate resources to continue in operational existence for at least 12 months from the approval of these financial statements. Accordingly, the Directors consider it appropriate to prepare the financial statements on a going concern basis.”
Group structure
- XLINKS LIMITED · parent
- Xlinks First Limited 55.05%
- Xlinks 1 Auxiliary Equipment Limited 100%
- Xlinks Morocco SA 99.99%
- Morocco-UK Green Electricity Export SA 99.87%
- Xlinks 1 Limited 100%
- Xlinks Morocco Development SA 99.99%
- Xlinks Germany GmbH 58.5%
- Xlinks Third Limited 100%
- Elemental Power SAS 99.99%
Significant events
- “In June 2025, the UK Department for Energy Security and Net Zero ("DESNZ") decided not to advance a Contract for Difference ("CfD") scheme for the Group's first project, the Morocco-UK Power Project... Since the decision from DESNZ, XLF has undertaken a number of restructuring activities... and increase of Xlinks Limited shareholding of XLF from 55% to 100% owned by Xlinks Limited. Subsequent to the year end, the Group entered into an agreement for the issue of £10 million 10% fixed rate interest bearing, unsecured convertible loan notes.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BUDD, Mark Andrew | Director | 2022-06-24 | Sep 1975 | British |
| DAVIS, Ian Edward Lamert, Sir | Director | 2021-12-13 | Mar 1951 | British |
| MORRISH, Simon Hobart Charles | Director | 2020-02-18 | Oct 1974 | British |
| PADMANATHAN, Suntharesan | Director | 2020-02-18 | Apr 1958 | Sri Lankan |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| WRIGHT, Rebecca | Secretary | 2023-11-09 | 2025-04-04 |
| ALVAREZ DOMINGUEZ, Jaime | Director | 2020-02-24 | 2023-01-19 |
| DUDENHAUSEN, Roman Albert, Dr. | Director | 2024-07-05 | 2026-03-03 |
| GUNDRY, Rachel Catherine | Director | 2019-03-19 | 2022-09-20 |
| LEWIS, Dave, Sir | Director | 2021-11-22 | 2025-11-28 |
| SERFATY, Fabienne Anne Caroline | Director | 2022-11-21 | 2025-12-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Solar Ventus Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2022-01-19 | Active |
| Mr Mark Andrew Budd | Individual | Shares 25–50% | 2021-01-26 | Ceased 2021-06-02 |
| Pat Morrish | Individual | Shares 25–50% | 2020-01-27 | Ceased 2021-06-02 |
| Suntharesan Padmanathan | Individual | Shares 25–50% | 2020-01-27 | Ceased 2021-01-26 |
| Mrs Rachel Catherine Gundry | Individual | Shares 75–100%, Voting 75–100% | 2019-03-19 | Ceased 2020-05-26 |
Filing timeline
Last 20 of 64 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-06-09 MA Memorandum articles
- 2024-11-28 RESOLUTIONS Resolution
- 2024-11-28 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-02 | AA | accounts | Accounts with accounts type group | |
| 2026-03-20 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-10 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2026-01-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-18 | AA | accounts | Accounts with accounts type group | |
| 2025-12-12 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-05 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-09 | MA | incorporation | Memorandum articles | |
| 2025-06-03 | SH01 | capital | Capital allotment shares | |
| 2025-04-04 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-11-28 | RESOLUTIONS | resolution | Resolution | |
| 2024-11-28 | MA | incorporation | Memorandum articles | |
| 2024-11-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-07-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-02 | AUD | auditors | Auditors resignation company | |
| 2024-05-30 | AA | accounts | Accounts with accounts type small | |
| 2023-11-16 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-11-07 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-08-18 | SH01 | capital | Capital allotment shares | |
| 2023-05-16 | AA | accounts | Accounts with accounts type micro entity |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 1
- Officers appointed
- 0
- 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.