Pipex Limited
Registered name: PIPEX LIMITED
Part of Nov Inc. groupPipex Limited made £0 revenue and £0 profit in the year to 31 Dec 2024.
Pipex Limited’s revenue fell 100% to £0 in the year to 31 Dec 2024, with £0 profit and 0 employees. The company is classified under “manufacture of other plastic products” and is based in Stonehouse; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- Stonehouse, South West
- Age
- 51 yrs · since 1975
- Type
- Private Limited Company
Part of a group. The filing indicates this company sits within a group structure, so its results may depend on intra-group trading and it may be hard to replicate independently.
Key figures
Badges are automated estimates derived from the filed figures — not statements of fact about the company.
Financial history
| Year to | 31 Dec 2022 | 31 Dec 2023 | 31 Dec 2024 |
|---|---|---|---|
| Disclosure | Full P&L | Full P&L | Full P&L |
| Profit & loss | |||
| Revenue (turnover) | £13m | £12.9m | £0 |
| Cost of sales | £9.7m | £9.6m | £0 |
| Gross profit | £3.2m | £3.3m | £0 |
| Operating profit | £1.4m | £1.8m | £0 |
| Profit before tax | £3m | £1.8m | £0 |
| Profit after tax | £2.6m | £1.4m | £0 |
| Profit (best available) | £2.6m | £1.4m | £0 |
| Staff costs | £4.5m | £4.2m | £0 |
| Employees (average) | 93 | 86 | 0 |
| Ratios | |||
| Profit margin | 19.9% | 10.7% | — |
| Gross margin | 25% | 25.3% | — |
| Revenue per employee | £139k | £150k | — |
| Profit per employee | £27.8k | £16k | — |
| Growth (year on year) | |||
| Revenue growth | — | ▼0.6% | ▼100% |
| Profit growth | — | ▼46.7% | ▼100% |
| Headcount growth | — | ▼7.5% | ▼100% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | £4.6m | £6m | £0 |
| Fixed assets | £4m | — | — |
| Current assets | £8.4m | £6m | — |
| Debtors | £1.3m | £6m | £0 |
| Deferred income | £697k | — | — |
| Source | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Sep 2025 |
How the business works
- Profit margin
- —
- Profit ÷ revenue.
- Gross margin
- —
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- ▼100%
- Now £0
- Cash at bank
- —
- Now —
- Headcount
- ▼100%
- Now 0
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Nov Inc. (registered outside the UK register)ultimate parent75–100%
- National Oilwell Varco UK Limited75–100%
- Pipex Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Sister companies (7)
- Nov Process & Flow Technologies UK LimitedRev. £62.5m · Profit £2.2m
- Tuboscope Vetco Capital LimitedRev. £16.1m · Profit £2.4m
- Hellenes LimitedRev. £1.8m · Profit £4.1m
- Nov Elmar (Middle East) LimitedRev. £1.7m · Profit £732k
- National Oilwell (U.K.) LimitedRev. £5k · Profit £4k
- Mono Group Pension Trustees LimitedFigures not disclosed
- Nov Downhole Eurasia LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
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Sources
Latest figures from FullAccounts for the year to 31 Dec 2024 (profit £0), from the Companies House accounts bulk data published Sep 2025. Spotted an error? Request a correction.
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.