Fuel Cell Systems Ltd

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fuel cell systems ltd Company Information

Company Number

07411241

Next Accounts

Dec 2025

Directors

Thomas Sperrey

Thomas Chicken

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Shareholders

hgen2 limited

mr thomas leo sperrey

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Group Structure

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Industry

Other information technology and computer service activities

Registered Address

unit 3 station yard, station road, hungerford, RG17 0DY

Website

www.fuelcellsystems.co.uk

fuel cell systems ltd Estimated Valuation

£11.3m

Pomanda estimates the enterprise value of FUEL CELL SYSTEMS LTD at £11.3m based on Net Assets of £5m and 2.25x industry multiple (adjusted for liquidity).

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Fuel Cell Systems Ltd is a live company located in hungerford, RG17 0DY with a Companies House number of 07411241. It operates in the other information technology service activities sector, SIC Code 62090. Founded in October 2010, it's largest shareholder is hgen2 limited with a 56.2% stake. Fuel Cell Systems Ltd is a established, mid sized company, Pomanda has estimated its turnover at £9.7m with high growth in recent years.

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Pomanda's financial health check has awarded Fuel Cell Systems Ltd a 5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 3 areas for improvement. Company Health Check FAQs

Health Rating5out of 5

6 Strong

3 Regular

3 Weak

Size

annual sales of £9.7m, make it larger than the average company (£7.5m)

Growth

3 year (CAGR) sales growth of 20%, show it is growing at a faster rate (9%)

EXPORT

Fuel Cell Systems Ltd's latest turnover from March 2024 is estimated at £9.7 million and the company has net assets of £5 million. According to their latest financial statements, Fuel Cell Systems Ltd has 28 employees and maintains cash reserves of £2.6 million as reported in the balance sheet.

Data source: Companies House, Pomanda Estimates

	Mar 2024	Mar 2023	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011
Turnover	9,741,179	9,273,442	7,779,382	5,647,389	2,482,196	1,776,694	1,108,312	745,473	744,277	752,893	851,242	451,136	123,544	29,666
Other Income Or Grants
Cost Of Sales	5,030,424	4,698,186	3,774,707	2,817,888	1,224,558	858,030	526,805	354,254	342,074	354,238	402,282	207,848	57,721	13,814
Gross Profit	4,710,755	4,575,255	4,004,675	2,829,501	1,257,638	918,664	581,507	391,219	402,203	398,655	448,960	243,288	65,823	15,852
Admin Expenses	4,848,208	4,108,746	2,871,841	2,586,311	1,222,826	871,431	531,004	277,660	257,265	315,397	439,957	214,641	75,960	29,080
Operating Profit	-137,453	466,509	1,132,834	243,190	34,812	47,233	50,503	113,559	144,938	83,258	9,003	28,647	-10,137	-13,228
Interest Payable	14,330	28,103	27,694	19,148	7,625
Interest Receivable	152,524	156,340	59,350	972	496	1,780	2,287	572	257	229	249	173	76	23
Pre-Tax Profit	740	594,747	1,164,490	225,014	27,683	49,012	52,790	114,131	145,195	83,488	9,252	28,819	-10,061	-13,205
Tax	-185	-113,002	-221,253	-42,753	-5,260	-9,312	-10,030	-21,685	-29,039	-16,697	-1,943	-6,628
Profit After Tax	555	481,745	943,237	182,261	22,423	39,700	42,760	92,446	116,156	66,790	7,309	22,191	-10,061	-13,205
Dividends Paid
Retained Profit	555	481,745	943,237	182,261	22,423	39,700	42,760	92,446	116,156	66,790	7,309	22,191	-10,061	-13,205
Employee Costs	2,030,580	1,317,665	1,011,367	768,316	599,924	602,885	462,191	388,269	215,942	271,246	320,226	201,578	51,123	49,325
Number Of Employees	28	19	15	12	10	10	8	7	4	5	6	4	1	1
EBITDA*	-54,854	486,366	1,138,224	248,841	41,400	53,570	56,648	114,841	144,938	83,258	9,003	28,647	-10,137	-13,228

* Earnings Before Interest, Tax, Depreciation and Amortisation

	Mar 2024	Mar 2023	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011
Tangible Assets	359,865	269,979	15,357	8,122	13,773	13,817	20,154	18,449
Intangible Assets
Investments & Other
Debtors (Due After 1 year)
Total Fixed Assets	359,865	269,979	15,357	8,122	13,773	13,817	20,154	18,449
Stock & work in progress	2,512,322	1,821,933	1,516,760	718,580	72,230	147,906	70,358	90,726	114,476	117,270	94,480	90,156	4,209	3,209
Trade Debtors	1,428,797	2,088,748	1,603,489	1,171,840	484,287	352,590	177,526	82,717	104,255	104,558	119,080	42,290	12,777	992
Group Debtors	14,319
Misc Debtors	1,439,668	871,745	186,961	34,579	39,726	30,527	68,064	125,087	107,597
Cash	2,620,813	3,189,619	4,167,567	1,108,000	835,525	156,479	318,087	291,815	165,439	39,927	51,765	47,773	21,369	9,005
misc current assets
total current assets	8,015,919	7,972,045	7,474,777	3,032,999	1,431,768	687,502	634,035	590,345	491,767	261,755	265,325	180,219	38,355	13,206
total assets	8,375,784	8,242,024	7,490,134	3,041,121	1,445,541	701,319	654,189	608,794	491,767	261,755	265,325	180,219	38,355	13,206
Bank overdraft
Bank loan		97,476	94,927	84,210	14,206
Trade Creditors	1,913,150	796,751	1,669,706	1,139,696	582,980	185,846	227,568	197,972	239,435	188,730	259,090	181,293	61,620	26,410
Group/Directors Accounts	16,422	78,789
other short term finances
hp & lease commitments
other current liabilities	1,427,580	2,093,644	990,512	953,672	226,051	151,386	102,234	129,195	63,151
total current liabilities	3,357,152	3,066,660	2,755,145	2,177,578	823,237	337,232	329,802	327,167	302,586	188,730	259,090	181,293	61,620	26,410
loans		157,287	198,657	293,584	235,794
hp & lease commitments
Accruals and Deferred Income
other liabilities
provisions				1,188
total long term liabilities		157,287	198,657	294,772	235,794
total liabilities	3,357,152	3,223,947	2,953,802	2,472,350	1,059,031	337,232	329,802	327,167	302,586	188,730	259,090	181,293	61,620	26,410
net assets	5,018,632	5,018,077	4,536,332	568,771	386,510	364,087	324,387	281,627	189,181	73,025	6,235	-1,074	-23,265	-13,204
total shareholders funds	5,018,632	5,018,077	4,536,332	568,771	386,510	364,087	324,387	281,627	189,181	73,025	6,235	-1,074	-23,265	-13,204

	Mar 2024	Mar 2023	Oct 2022	Oct 2021	Oct 2020	Oct 2019	Oct 2018	Oct 2017	Oct 2016	Oct 2015	Oct 2014	Oct 2013	Oct 2012	Oct 2011
Operating Activities
Operating Profit	-137,453	466,509	1,132,834	243,190	34,812	47,233	50,503	113,559	144,938	83,258	9,003	28,647	-10,137	-13,228
Depreciation	82,599	19,857	5,390	5,651	6,588	6,337	6,145	1,282
Amortisation
Tax	-185	-113,002	-221,253	-42,753	-5,260	-9,312	-10,030	-21,685	-29,039	-16,697	-1,943	-6,628
Stock	690,389	305,173	798,180	646,350	-75,676	77,548	-20,368	-23,750	-2,794	22,790	4,324	85,947	1,000	3,209
Debtors	-77,709	1,170,043	584,031	682,406	140,896	137,527	37,786	-4,048	107,294	-14,522	76,790	29,513	11,785	992
Creditors	1,116,399	-872,955	530,010	556,716	397,134	-41,722	29,596	-41,463	50,705	-70,360	77,797	119,673	35,210	26,410
Accruals and Deferred Income	-666,064	1,103,132	36,840	727,621	74,665	49,152	-26,961	66,044	63,151
Deferred Taxes & Provisions			-1,188	1,188
Cash flow from operations	-217,384	-871,675	100,422	162,857	442,719	-163,387	31,835	145,535	125,255	-12,067	3,743	26,232	12,288	8,981
Investing Activities
capital expenditure	-172,485	-274,479	-12,625		-6,544		-7,850	-19,731
Change in Investments
cash flow from investments	-172,485	-274,479	-12,625		-6,544		-7,850	-19,731
Financing Activities
Bank loans	-97,476	2,549	10,717	70,004	14,206
Group/Directors Accounts	-62,367	78,789
Other Short Term Loans
Long term loans	-157,287	-41,370	-94,927	57,790	235,794
Hire Purchase and Lease Commitments
other long term liabilities
share issue			3,024,324											1
interest	138,194	128,237	31,656	-18,176	-7,129	1,780	2,287	572	257	229	249	173	76	23
cash flow from financing	-178,936	168,205	2,971,770	109,618	242,871	1,780	2,287	572	257	229	249	173	76	24
cash and cash equivalents
cash	-568,806	-977,948	3,059,567	272,475	679,046	-161,608	26,272	126,376	125,512	-11,838	3,992	26,404	12,364	9,005
overdraft
change in cash	-568,806	-977,948	3,059,567	272,475	679,046	-161,608	26,272	126,376	125,512	-11,838	3,992	26,404	12,364	9,005

Very Low Risk70 - 100

Low Risk50 - 70

Moderate Risk30 - 50

High Risk20 - 30

Very High Risk0 - 20

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FUEL CELL SYSTEMS LTD group structure

Fuel Cell Systems Ltd has no subsidiary companies.

Ultimate parent company

HGEN2 LIMITED

SC701049

1 parent

FUEL CELL SYSTEMS LTD

07411241

FUEL CELL SYSTEMS LTD Shareholders

hgen2 limited	56.23%
mr thomas leo sperrey	24.02%
mr thomas william chicken	19.74%

Fuel Cell Systems Ltd currently has 7 directors. The longest serving directors include Mr Thomas Sperrey (Oct 2010) and Mr Thomas Chicken (May 2017).

officer	country	age	start	end	role
Mr Thomas Sperrey	England	74 years	Oct 2010	-	Director
Mr Thomas Chicken	England	41 years	May 2017	-	Director
Mr Robert Drummond	Scotland	69 years	Sep 2022	-	Director
Mr Colin Welsh	Scotland	65 years	Sep 2022	-	Director
Dr Lee Juby	England	52 years	Jan 2024	-	Director
Mr Neil Thompson	England	52 years	Jan 2024	-	Director
Mr Christopher Mearns	England	55 years	Nov 2024	-	Director

P&L

March 2024

turnover

9.7m

+5%

operating profit

-137.5k

gross margin

48.4%

-1.98%

turnover

Turnover, or revenue, is the amount of sales generated by a company within the financial year.

Balance Sheet

March 2024

net assets

total assets

8.4m

+0.02%

cash

2.6m

-0.18%

net assets

Total assets minus all liabilities

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company number

07411241

Type

Private limited with Share Capital

industry

62090 - Other information technology and computer service activities

incorporation date

October 2010

ultimate parent company

HGEN2 LIMITED

previous names

N/A

address

unit 3 station yard, station road, hungerford, RG17 0DY

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fuel cell systems ltd Company Information

fuel cell systems ltd Estimated Valuation

fuel cell systems ltd Estimated Valuation

fuel cell systems ltd Estimated Valuation

Fuel Cell Systems Ltd Overview

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FUEL CELL SYSTEMS LTD financials

fuel cell systems ltd Credit Report and Business Information

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