HDCO11 LIMITED
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Cash
£1.5M
+72.5% vs 2024
Net assets
£274K
+149.8% first positive since 2024
Employees
44
+2.3% highest in 3 filed years
Profit before tax
£1.6M
+135.4% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
2 PSCs ceased in last 24 months
Significant control changed hands — see the Ownership section.
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 | £28,436,998 | £32,305,508 | £37,037,757 | +14.6% | |
| Operating profit | £1,660,650 | £1,475,448 | £2,313,222 | +56.8% | |
| Profit before tax | £1,003,572 | £672,303 | £1,582,774 | +135.4% | |
| Net profit | £554,280 | £176,753 | £823,302 | +365.8% | |
| Cash | £2,064,805 | £877,116 | £1,513,037 | +72.5% | |
| Total assets less current liabilities | £8,604,521 | £6,591,579 | £363,333 | -94.5% | |
| Net assets | £986,666 | -£549,480 | £273,822 | +149.8% | |
| Equity | £986,666 | -£549,480 | £273,822 | +149.8% | |
| Average employees | 43 | 43 | 44 | +2.3% | |
| Wages | £1,989,584 | £2,167,584 | £2,874,824 | +32.6% | |
| Directors' remuneration | £535,259 | £570,539 | £926,995 | +62.5% |
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 | 5.8% | 4.6% | 6.2% | |
| Net margin | 1.9% | 0.5% | 2.2% | |
| Return on capital employed | 19.3% | 22.4% | 636.7% | |
| Gearing (liabilities / total assets) | 93.3% | 104.3% | 98.0% | |
| Current ratio | 0.89x | 0.70x | 0.42x | |
| Interest cover | 2.41x | 1.75x | 3.01x |
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 102
- Reporting scope
- Consolidated group
- Auditor
- MHA
- 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 when the financial statements are authorised for issue.”
Group structure
- HDCO11 LIMITED · parent
- Micom Technologies Ltd (Formerly known as Imail Comms Limited) 100%
Significant events
- “Micom Connect Launch (April 8, 2026): New SaaS offering for SME and mid-market customers, simplifying onboarding with self-serve workflows and no long sales cycle.”
- “NHS SBS Framework: Secured supplier status under NHS Secure Boundary Service, validating regulatory compliance posture and opening Public Sector procurement pathway.”
- “Cyber Essentials Plus Certification (in progress) and ongoing compliance audit readiness demonstrate security-first delivery approach.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BADENHORST, Gerhardus Martin | Director | 2026-01-01 | Mar 1983 | British |
| BARBER, Andrew Mark | Director | 2021-07-16 | Jan 1979 | British |
| BUSWELL, Charles Guy | Director | 2021-09-30 | Sep 1961 | British |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| AGAR, Stephen | Director | 2021-09-30 | 2025-12-18 |
| THOMAS, Wayne Leslie | Director | 2021-08-27 | 2025-12-18 |
| WILLIAMS, Jill | Director | 2021-08-27 | 2022-12-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Hdc026 Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2025-12-18 | Active |
| Mr Andrew Mark Barber | Individual | Shares 25–50%, Voting 25–50% | 2024-06-03 | Ceased 2025-12-18 |
| Enterprise Ventures (General Partner Ev Growth Ii) Limited | Corporate entity | Shares 25–50%, Voting 25–50% | 2021-09-30 | Ceased 2025-12-18 |
| Mr Andrew Mark Barber | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-07-16 | Ceased 2021-09-30 |
Filing timeline
Last 20 of 52 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-12-28 MA Memorandum articles
- 2025-12-28 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-30 | AA | accounts | Accounts with accounts type group | |
| 2026-01-12 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-28 | MA | incorporation | Memorandum articles | |
| 2025-12-28 | RESOLUTIONS | resolution | Resolution | |
| 2025-12-27 | SH08 | capital | Capital name of class of shares | |
| 2025-12-22 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2025-12-22 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-12-22 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-12-22 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-22 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-19 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-12-18 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-11-21 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-11-21 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-11-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-15 | AA | accounts | Accounts with accounts type group | |
| 2024-09-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-08-14 | AA | accounts | Accounts with accounts type group | |
| 2024-06-28 | SH06 | capital | Capital cancellation shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 17
- Capital events
- 1
- Officers appointed
- 1
- 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.