MITAC EUROPE LTD

Figures converted to GBP from EUR at 0.870 per EUR (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +1,324.8%

  £60,032 → £855,306

• Cash

  +17.3%

  £435,754 → £511,179

• Net assets

  +28.6%

  £361,150 → £464,543

  highest in 6 filed years

• Employees

  -23.3%

  43 → 33

  lowest in 6 filed years

• Operating profit

  -30%

  £132,239 → £92,572

  lowest in 3 filed years

• Profit before tax

  -21.9%

  £152,238 → £118,892

  first positive since 2021

• Wages

  -8.7%

  £2,118,606 → £1,934,546

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. 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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. MITAC EUROPE LTD 2012-01-03 → present
2. MIO TECHNOLOGY UK LTD 2008-05-08 → 2012-01-03
3. NAVMAN EUROPE LIMITED 2003-06-05 → 2008-05-01
4. NAVMAN MOBILE LIMITED 2001-05-10 → 2003-06-05

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Mercer & Hole LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. This envisions the company has the resources needed to continue under normal operation and settle liabilities in the ordinary course of business. With the enhancement on the sales and marketing management service, the company expects to maintain a positive operating margin in future years. The risk of going concern was significantly reduced. In addition, the parent company has confirmed to provide the company with financial support for any of its debts if required for 12 months from the signing date of the financial statements.”

Group structure

1. MITAC EUROPE LTD · parent
   1. MITAC Australia Pty Ltd 100% · Australia
   2. MITAC Digital Corporation Inc 100% · United States

Significant events

• “The Russia office is running with cash shortage due to the sanctions which impacted our Russia operation.”
• “A significant disruption in the availability of our information technology, telecommunications or other infrastructure systems could cause interruptions in our service to our customers.”

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

Filings

3

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.