LIQUID TELECOMMUNICATIONS LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  -8.5%

  £34,467,324 → £31,541,902

• Cash

  +697.9%

  £202,992 → £1,619,772

• Net assets

  +3.7%

  £17,047,101 → £17,678,221

• Employees

  -21.1%

  76 → 60

• Operating profit

  -70%

  £3,787,313 → £1,136,259

• Profit before tax

  -88.4%

  £3,550,808 → £413,493

• Wages

  -7.7%

  £11,175,741 → £10,309,931

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. Sector-distribution context coming next.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors, in assessing the ability of the Liquid Telecommunications Limited (LTUK) to continue as a going concern, have considered a number of factors. These include the operations of the LTUK and the primary purpose of the company which is to conduct business of a wholesale telecommunication service and technology provider. The directors have also reviewed the forecasts of the company in terms of its income including income from other group companies and the ability to meet its expenditure. The operations of LTUK are directly connected with the operations of Liquid Telecommunications Holdings Limited (LTH Group), of which the LTUK is a part, due to the trading relationships with other entities within the LTH Group. Additionally, the company is a material guarantor to the Senior Secured Notes that are repayable on maturity in September 2026, and other debts within the LTH Group for which the LTH Group is in the process of refinancing. The directors have considered a going concern period of not less than 12 months from the date of the signing of these financial statements, which in this case is extended to the end of September 2026, the month in which the Senior Secured notes in the LTH Group mature and fall due. The ability of LTUK to continue to trade depends on the successful completion of the Refinancing Project within the LTH Group which encompasses an asset sale to inject further capital into the group, the draw down on the new USD 220.0 million equivalent South African Rand term loan and the other aspects of the refinancing plan of the bond (collectively referred to as the "Refinancing Project"). This Refinancing Project is being led by the LTH Group, in order to repay the Senior Secured Notes on maturity. Furthermore, until such time as the Refinancing Project is complete, debt is reduced and the covenants are reset, the LTH group is required to meet their current EBITDA forecasts to ensure they continue to meet existing financial covenants, including at the covenant test date of 31 August 2025. The LTH group's updated forecasts show that whilst it is anticipated that covenants will be met, the available headroom is very limited, and therefore there remains the potential for a breach of the covenant test as at that date. The related financial information will not be available or finalised until nearer the covenant reporting requirement date in October 2025. These circumstances led to the directors of the LTH group concluding that a material uncertainty exists which may cast significant doubt on the LTH group's ability to continue as a going concern. As discussed above, LTUK is dependent on the completion of the Refinancing Project, and on the continuation of the wider LTH group as a going concern in order for itself to continue as a going concern. The material uncertainty disclosed above with respect to the LTH group financial statements around the quantum and timing of the Refinancing Project means that should this uncertainty crystallise, then neither LTUK nor the wider LTH group would be able to repay the bond on maturity in September 2026. Along with this should the material uncertainty with respect to the LTH group's covenants crystallise, this would also directly impact LTUK. These factors create a material uncertainty which may cast significant doubt on the ability of LTUK to continue as a going concern and therefore the company may be unable to realise its assets and discharge its liabilities in the normal course of business. Notwithstanding the material uncertainties referred to above, the directors have concluded that preparing the financial statements on the going concern basis is appropriate.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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