VIRGIN HOLIDAYS LIMITED

• ◆

  Material uncertainty over going concern

  We draw attention to note 3 to the financial statements which indicates that the Group and Company's ability to continue as a going concern is dependent on the flight operations of the immediate parent Company Virgin Allantic Airways Limited. The financial statements of Virgin Atlantic Airways Limited include a material uncertainty related to going concern and therefore the continuation of the flight operations of that company may be in doubt in the going concern assessment period. These events and conditions, along with the other matters explained in note 3, constitute a material uncertainty that may cast significant doubt on the Group's and the parent Company's ability to continue as a going concern.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ·

  Going-concern uncertainty disclosed

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 —. 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. VIRGIN HOLIDAYS LIMITED 1985-11-06 → present
2. VIRGIN ATLANTIC LINE LIMITED 1985-06-26 → 1985-11-06
3. AVIDREAD LIMITED 1984-12-21 → 1985-06-26

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 3 to the financial statements which indicates that the Group and Company's ability to continue as a going concern is dependent on the flight operations of the immediate parent Company Virgin Allantic Airways Limited. The financial statements of Virgin Atlantic Airways Limited include a material uncertainty related to going concern and therefore the continuation of the flight operations of that company may be in doubt in the going concern assessment period. These events and conditions, along with the other matters explained in note 3, constitute a material uncertainty that may cast significant doubt on the Group's and the parent Company's ability to continue as a going concern.”

Group structure

1. VIRGIN HOLIDAYS LIMITED · parent
   1. Virgin Incoming Services Incorporated 100% · United States of America · Tour operator

Significant events

• “Subsequent to the reporting date, geopolitical tensions in the Middle East have intensified, resulting in operational disruption across the region, including airspace restrictions, and increased volatility in global energy markets. The Group's direct exposure to the Middle East remains limited, and accordingly the immediate operational impact is not expected to be material. There were no other subsequent events required to be disclosed as at the date of this report.”

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

Filings

10

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

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