How much does Propulsion Technologies Limited make?

Propulsion Technologies Limited reported revenue of £14.9m and a loss of £1.8m in the year to 31 Dec 2024, according to its accounts filed at Companies House.

How many employees does Propulsion Technologies Limited have?

Propulsion Technologies Limited reported an average of 46 employees in the year to 31 Dec 2024.

Is Propulsion Technologies Limited profitable?

No — Propulsion Technologies Limited reported a loss of £1.8m in the year to 31 Dec 2024.

Company No. 10338183 · Incorporated 19 Aug 2016

Propulsion Technologies Limited

Registered name: PROPULSION TECHNOLOGIES LIMITED

Part of Abu Dhabi Government group

Propulsion Technologies Limited made £14.9m revenue and a £1.8m loss in the year to 31 Dec 2024.

Propulsion Technologies Limited’s revenue fell 21% to £14.9m in the year to 31 Dec 2024, with a loss of £1.8m and 46 employees. The company is classified under “manufacture of other parts and accessories for motor vehicles” and is based in Woking; we hold 2 years of its filed accounts.

Full P&L filedSection C · ManufacturingSIC 29320Manufacture of other parts and accessories for motor vehicles

Status: Active
Location: Woking, South East
Age: 10 yrs · since 2016
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.

Latest accounts · year to 31 Dec 2024

Key figures

Cash flow filed

Revenue

£14.9m

Growth ▼21%

Profit

−£1.8m

Growth ▼149.3%

Profit margin

−12.1%

Gross 8.5%

Employees

Change ▲7%

Profit / employee

−£39.3k

Revenue/employee £324k

Profitable streak

0yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

2 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2023	31 Dec 2024
Disclosure	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£18.9m	£14.9m
Cost of sales	£15.6m	£13.6m
Gross profit	£3.3m	£1.3m
Operating profit	£3m	−£1.6m
Profit after tax	£3.7m	−£1.8m
Profit (best available)	£3.7m	−£1.8m
Staff costs	£2.4m	£2.3m
Employees (average)	43	46
Ratios
Profit margin	19.4%	−12.1%
Gross margin	17.4%	8.5%
Revenue per employee	£439k	£324k
Profit per employee	£85.2k	−£39.3k
Cash conversion	−117.5%	—
Growth (year on year)
Revenue growth	—	▼21%
Profit growth	—	▼149.3%
Headcount growth	—	▲7%
Balance sheet — indirect signals, not revenue
Cash at bank	£10k	£10k
Net assets	−£5.8m	−£7.6m
Current assets	£17.8m	£11.2m
Debtors	£3.2m	£6.1m
Cash from operations	−£3.5m	£3.7m
Source	FullAccounts · bulk data Nov 2025	FullAccounts · bulk data Nov 2025

Derived from the latest filing

How the business works

Profit margin: −12.1%; Profit ÷ revenue.
Gross margin: 8.5%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £324k; Revenue ÷ average employees.
Profit per employee: −£39.3k; 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: 40.8%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

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: —; Now −£7.6m
Cash at bank: 0%; Now £10k
Headcount: ▲7%; Now 46
Deferred income: —; Now —
Fixed assets: —; Now —

Corporate ownership

Group structure

Ownership chain

Abu Dhabi Government (registered outside the UK register)ultimate parent75–100%
McLaren Group Holdings Limited75–100%
McLaren Automotive Holdings Limited75–100%
Propulsion Technologies Limitedthis company

Bands show the share of ownership each company holds in the one below it.

Sister companies (3)

McLaren Automotive LimitedFigures not disclosed
McLaren Finance PLCFigures not disclosed
McLaren Services LimitedFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2024 (profit −£1.8m), from the Companies House accounts bulk data published Nov 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.