HYDRAB POWER LIMITED
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Cash
£68M
-2.7% vs 2023
Net assets
£47M
+47.3% highest in 4 filed years
Employees
1,927
+43.5% highest in 4 filed years
Profit before tax
£23M
+270.3% vs 2023
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.
Net assets
4-year trend · vs Industrials median
Accounts
4-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2021-06-30 | 2021-12-31 | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|---|---|
| Turnover | — | — | £265,206,296 | £470,866,538 | +77.5% | |
| Operating profit | — | — | -£9,459,021 | £28,873,833 | +405.3% | |
| Profit before tax | — | — | -£13,494,339 | £22,976,864 | +270.3% | |
| Net profit | — | — | -£13,100,883 | £15,297,304 | +216.8% | |
| Cash | — | £3,700,000 | £70,239,791 | £68,354,764 | -2.7% | |
| Total assets less current liabilities | -£2,000 | -£4,150 | £102,854,590 | £108,828,859 | +5.8% | |
| Net assets | -£2,000 | -£4,150 | £31,592,156 | £46,533,468 | +47.3% | |
| Equity | -£2,000 | -£4,150 | £31,592,156 | £46,533,468 | +47.3% | |
| Average employees | 2 | 2 | 1,343 | 1,927 | +43.5% | |
| Wages | — | — | £44,823,582 | £72,276,941 | +61.2% | |
| Directors' remuneration | — | — | £696,336 | £743,851 | +6.8% |
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 | 2021-06-30 | 2021-12-31 | 2023-12-31 | 2024-12-31 |
|---|---|---|---|---|---|
| Operating margin | — | — | -3.6% | 6.1% | |
| Net margin | — | — | -4.9% | 3.2% | |
| Return on capital employed | — | — | -9.2% | 26.5% | |
| Current ratio | — | — | 1.68x | 1.44x | |
| Interest cover | — | — | -2.10x | 4.07x |
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.
Name history
Renamed 1 time since incorporation
- HYDRAB POWER LIMITED 2021-05-17 → present
- ZERON ENERGY LIMITED 2020-06-13 → 2021-05-17
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Grant Thornton (NI) LLP
- 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 or the parent Company's ability to continue as a going concern for a period of at least twelve months from the date when the financial statements are authorised for issue.”
Group structure
- HYDRAB POWER LIMITED · parent
- Didcot Low Carbon Hydrogen Limited 59%
- Bardon Hill Low Hydrogen Limited 59%
- Hygen Energy Holdings Limited 59%
- HyGen Renewables Limited 59%
- HyGen Ballymena Limited 59%
- Harper Lane Low Carbon Hydrogen Limited 59%
- HyGen Power Assets Limited 59%
- HyGen Power Systems Limited 59%
- HyGen Power Fuel Cells Limited 59%
- HyGen Power Energy Limited 59%
- Lowestoft Hydrogen Limited 59%
- HyGen Production Limited 59%
- Peterborough Low Carbon Hydrogen Limited 59%
- Motive Fuels Limited 59%
- Rayleigh Low Carbon Hydrogen Limited 59%
- Ryze Power Group Limited 80%
- Ryze Power Limited 80%
- HyGen Energy Limited 100%
- Ryze Power GmbH 80%
- Ryze Power Europe Limited 80%
- Bamford Bus Company Holdings Limited 100%
- Green Investment Company One Limited 80%
- Bamford Bus Company Limited 80%
- Bamford Bus Company Parts and Aftercare Limited 80%
- Bamford Bus Company Ireland Limited 80%
- All Service One Limited 80%
- Leiston Hydrogen Limited 80%
- Ballymena Hydrogen Limited 80%
- Bamford Bus Company (Jersey) Limited 80%
- Wrightbus (International) Pte Limited 80%
- Wrightbus (Malaysia) Sdn Bhd 80%
- Wrightbus Hong Kong Limited 80%
- Wrightbus India (Engineering) Private Limited 69.9%
- WrightBus Australia Pty Ltd 80%
- Wrightbus GmbH 80%
- Wrightbus Mexico S.A. de C.V 80%
- RGI Bus & Coach Refurbishment Limited 80%
Significant events
- “On 7th January, an unanticipated incident occurred at a production facility. This event resulted in business disruption and resulted in damage to an element of the plant at the facility. The estimated net book value of the plant impacted at the time of the incident was £120,000 which is expected to incur an impairment charge.”
- “In April 2025 the Group signed a £150m finance agreement with HSBC UK. The agreement doubles the funding available to Wrightbus and includes working capital funding to support the long build-cycle of buses and enable the acceleration of bus production. In July 2025, Ulster Bank entered the facility, taking £32.5m of the facility.”
- “On 3 June 2025, the Bamford Bus Company Holdings Limited sold 6.1% of their shareholding in Green Investment Company One Limited to Hycap Company 1 Limited.. A gain on the disposal of £28m was recorded.”
- “On 4 December 2025, 18,210 ordinary shares of £1.00 each in the share capital of the Company registered in the name of Lord Anthony Paul Bamford were re-designated as 18,210 A ordinary shares of £1.00 each in the capital of the Company.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BAMFORD, Joseph Cyril Edward | Director | 2020-06-13 | Dec 1977 | British |
| JENNINGS, Paul Ronald | Director | 2026-05-01 | Jul 1957 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BOWCOTT, Harry | Director | 2025-08-12 | 2026-02-23 |
| BURNS, Jamie | Director | 2021-06-21 | 2025-08-12 |
| WINTER, Robert Alexander Mark | Director | 2023-07-03 | 2026-05-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Joseph Cyril Edward Bamford | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-06-13 | Active |
Filing timeline
Last 20 of 39 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-12-21 MA Memorandum articles
- 2025-12-21 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-06 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-06 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-23 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-07 | AA | accounts | Accounts with accounts type group | |
| 2025-12-28 | SH10 | capital | Capital variation of rights attached to shares | |
| 2025-12-28 | SH08 | capital | Capital name of class of shares | |
| 2025-12-21 | MA | incorporation | Memorandum articles | |
| 2025-12-21 | RESOLUTIONS | resolution | Resolution | |
| 2025-09-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-13 | AP01 | officers | Appoint person director company with name date | |
| 2025-08-13 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-29 | CH01 | officers | Change person director company with change date | |
| 2024-10-15 | AA | accounts | Accounts with accounts type group | |
| 2024-10-01 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2024-09-30 | CH01 | officers | Change person director company with change date | |
| 2024-09-30 | CH01 | officers | Change person director company with change date | |
| 2024-09-30 | CH01 | officers | Change person director company with change date | |
| 2024-09-30 | PSC04 | persons-with-significant-control | Change to a person with significant control | |
| 2024-09-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-31 | CH01 | officers | Change person director company with change date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 11
- Capital events
- 2
- 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.