National Refrigerants Ltd
Registered name: NATIONAL REFRIGERANTS LTD
National Refrigerants Ltd made £38.8m revenue and £7.1m profit in the year to 31 Dec 2025. read from filing text
National Refrigerants Ltd’s revenue grew 4% to £38.8m in the year to 31 Dec 2025, with £7.1m profit and 70 employees. The company is classified under “manufacture of other chemical products” and is based in Liverpool; we hold 4 years of its filed accounts.
- Status
- Active
- Location
- Liverpool, North West
- Age
- 37 yrs · since 1988
- Type
- Private Limited Company
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 | 31 Dec 2025 |
|---|---|---|---|---|
| Disclosure | Full P&Lread from filing text | Full P&Lread from filing text | Full P&Lread from filing text | Full P&Lread from filing text |
| Profit & loss | ||||
| Revenue (turnover) | £32.3m | £34.1m | £37.2m | £38.8m |
| Cost of sales | £21.9m | £23.3m | £27.7m | £28.5m |
| Gross profit | £10.4m | £10.8m | £9.5m | £10.3m |
| Operating profit | £7.9m | £7.7m | £6.5m | £9m |
| Profit before tax | £6.8m | £9m | £5.6m | £9.7m |
| Profit after tax | £5.6m | £4.5m | £4.2m | £7.1m |
| Profit (best available) | £5.6m | £4.5m | £4.2m | £7.1m |
| Employees (average) | 47 | 56 | 66 | 70 |
| Ratios | ||||
| Profit margin | 17.3% | 13.2% | 11.2% | 18.3% |
| Gross margin | 32.3% | 31.7% | 25.5% | 26.6% |
| Revenue per employee | £688k | £609k | £564k | £554k |
| Profit per employee | £119k | £80.2k | £63.2k | £102k |
| Growth (year on year) | ||||
| Revenue growth | — | ▲5.4% | ▲9.3% | ▲4.1% |
| Profit growth | — | ▼19.6% | ▼7.1% | ▲70.6% |
| Headcount growth | — | ▲19.1% | ▲17.9% | ▲6.1% |
| Balance sheet — indirect signals, not revenue | ||||
| Cash at bank | £7.8m | £8.1m | £12.7m | £8.1m |
| Net assets | £79.5m | £83m | £77.2m | £82.8m |
| Fixed assets | £51m | £47.4m | £38.7m | £43m |
| Current assets | £34.1m | £43.9m | £46.2m | £48.8m |
| Debtors | £3m | £3.1m | £2.6m | £2.9m |
| Source | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Sep 2024 | FullAccounts · bulk data Sep 2025 | FullAccounts · bulk data Sep 2026 |
How the business works
- Profit margin
- 18.3%
- Profit ÷ revenue.
- Gross margin
- 26.6%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- £554k
- Revenue ÷ average employees.
- Profit per employee
- £102k
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- 110.9%
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- 7.5%
- 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
- ▲7%
- Now £82.8m
- Cash at bank
- ▼36%
- Now £8.1m
- Headcount
- ▲6%
- Now 70
- Deferred income
- —
- Now —
- Fixed assets
- ▲11%
- Now £43m
Group structure
Subsidiaries (2)
- National Cylinder Testing (NCT) LtdFigures not disclosed
- National Refrigerants of America LtdFigures 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 2025 (profit £7.1m), from the Companies House accounts bulk data published Sep 2026. Spotted an error? Request a correction.
Updated from Companies House on 17 Oct 2026
Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.