POUNDSTRETCHER LIMITED

• ⚠

  Insolvency history on file

  Companies House holds prior insolvency events for this company. Detail and outcome on the official register.

• ◆

  Material uncertainty over going concern

  The Directors are confident that, based on these factors, the Company will be able to meet its obligations as they fall due. While the Directors are satisfied that the Company has adequate resources to continue in operational existence, they acknowledge that there remains inherent uncertainty in relation to the achievement of forecast sales and profitability. Should these forecasts not be met, this would cast doubt on the Company's ability to continue as a going concern.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

• ·

  Going-concern uncertainty disclosed

• ·

  Negative shareholders' funds

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. Year-on-year comparison hidden: this filing covers about 15 months versus 12 months prior. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

1. POUNDSTRETCHER LIMITED 1991-03-19 → present
2. BAKERS HOUSEHOLD STORES LIMITED 1955-08-06 → 1991-03-19

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Kilsby & Williams LLP

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“The Directors are confident that, based on these factors, the Company will be able to meet its obligations as they fall due. While the Directors are satisfied that the Company has adequate resources to continue in operational existence, they acknowledge that there remains inherent uncertainty in relation to the achievement of forecast sales and profitability. Should these forecasts not be met, this would cast doubt on the Company's ability to continue as a going concern.”

Group structure

1. POUNDSTRETCHER LIMITED · parent
   1. PS Imports Limited 100% · England and Wales

Significant events

• “Since the reporting period, the Company completed a restructuring supported by both its banking partner, Wells Fargo, and its shareholder, Fortress. Wells Fargo continues to provide funding through an asset-backed lending facility, under which the Company may draw down up to £30 million.”
• “Fortress has also committed additional financial support to the Company, comprising an initial £20 million shareholder loan facility available to fund expansion, together with a further £10 million facility to support future growth. Both facilities are interest-free and are repayable in June 2029.”
• “As part of the restructuring, existing debt of £8.9 million due to Fortress was waived.”
• “During the current year, the bank covenants were breached which resulted in the classification of amounts borrowed to be due within 1 year. All breaches were waived by the facility provider post year end.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.