NORGREN LIMITED
Company number 00564656 · Monitor this company
This analysis was written by an AI from the company's public filings. It may contain errors or omissions and is not financial or professional advice.
Investment Risk Analysis: NORGREN LIMITED
1. Risk Rating: LOW
NORGREN LIMITED presents a low overall risk profile based on available data. The company benefits from a nearly 70-year operating history, substantial share capital of £30M+, and the backing of IMI Kynoch Ltd as its controlling parent entity. All regulatory filings are current and not overdue, and the company maintains active status with no indications of financial distress.
2. Key Concerns
1. Limited Financial Visibility — As an "Audit Exemption Subsidiary," the company files abbreviated accounts under parent guarantee. This significantly restricts the ability to assess internal financial health, cash flow dynamics, and working capital position from public filings alone.
2. Anomalous Filing Dates — The last accounts made-up date of 31 December 2025 and confirmation statement date of 27 January 2026 appear to be future-dated relative to typical filing patterns. While this may reflect a data extraction issue, it warrants clarification to confirm filing compliance and data integrity.
3. Parent Company Dependency — IMI Kynoch Ltd holds more than 75% of shares, voting rights, and director appointment powers. While this provides financial backing, strategic and operational decisions are ultimately controlled at the group level, which could affect the subsidiary's operational autonomy.
3. Positive Indicators
- Long Corporate History: Incorporated in 1956, demonstrating nearly seven decades of business continuity through multiple economic cycles
- Strong Parent Backing: IMI Kynoch Ltd (part of the IMI plc group, a FTSE-listed engineering specialist) provides significant financial and operational support
- Substantial Capital Base: Share capital of £30,033,000 indicates a well-capitalized entity
- Regulatory Compliance: All filings are current; no overdue accounts or confirmation statements
- Established Market Position: Company describes itself as a "world leader in motion and fluid control technologies," consistent with its SIC classification (46690 - Wholesale of other machinery and equipment)
- Stable Corporate Structure: Multiple current directors and a company secretary in place, suggesting active governance
4. Due Diligence Notes
| Item | Action Required |
|---|---|
| Financial Data | Obtain IMI plc group accounts for fuller assessment of Norgren's contribution and financial position within the group |
| Filing Date Anomaly | Clarify the future-dated accounts/confirmation statement entries with Companies House or the company directly |
| Corporate Structure | Map the full relationship between NORGREN LIMITED, IMI Kynoch Ltd, and IMI plc to understand intercompany guarantees and obligations |
| Name Change History | Investigate the 2006 name change from IMI NORGREN LIMITED to NORGREN LIMITED — this may indicate a group restructuring or rebranding that could affect asset/liability allocations |
| Director Disqualifications | No disqualification records are flagged in the data provided; however, standard due diligence should include independent verification of all current officers |
| Trading Performance | Request management accounts or group segment reporting to assess revenue trends, margin performance, and working capital management |