KEY HEALTH SERVICES (ADDENBROOKES) LIMITED

• ⚠

  Material uncertainty over going concern

  The forecasts indicate that the company will have adequate resources to continue in operational existence for the foreseeable future, providing that neither the Project Agreement or the credit agreement are terminated by the Trust or the lender respectively and equity support is obtained. Communication is open with all parties as the Directors work to get the project back to a steady state of operation, but there remains a risk that (i) the Trust terminate the project agreement, (ii) further equity support is not secured from the shareholders and / or (iii) the lenders could terminate the credit agreement. There factors therefore reflect a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern.

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

  -24.3%

  £3,868,351 → £2,929,250

• Cash

  -15.2%

  £10,471,775 → £8,878,076

• Net assets

  -12.8%

  -£19,593,940 → -£22,101,293

• Employees

  —

  Not reported

• Operating profit

  -221.9%

  -£425,241 → -£1,369,046

• Profit before tax

  -101.2%

  -£1,029,595 → -£2,071,713

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.

1. KEY HEALTH SERVICES (ADDENBROOKES) LIMITED 2004-06-01 → present
2. BROOMCO (3431) LIMITED 2004-04-05 → 2004-06-01

Accounting basis

FRS 102 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The forecasts indicate that the company will have adequate resources to continue in operational existence for the foreseeable future, providing that neither the Project Agreement or the credit agreement are terminated by the Trust or the lender respectively and equity support is obtained. Communication is open with all parties as the Directors work to get the project back to a steady state of operation, but there remains a risk that (i) the Trust terminate the project agreement, (ii) further equity support is not secured from the shareholders and / or (iii) the lenders could terminate the credit agreement. There factors therefore reflect a material uncertainty that may cast significant doubt about the Company's ability to continue as a going concern.”

Significant events

• “During the year, there have been a number of significant areas of deductions suffered by the Company, totalling £3,158k, largely driven by a small number of large value failure events. As a result of these deductions the contractual thresholds for service failure points ("SFP") has been breached, resulting in a potential event of default under the Project Agreement and therefore a risk of termination of that agreement by the Trust. Since the year end, the level of deductions has reduced, however the rolling total thresholds remain breached at the date of signing. As a further consequence of the deductions, the Company had to bear the cost in relation to a number of items which were historic in nature. This meant the Company needed to use funds in the Debt Service Reserve Account in order to meet its debt obligations in March 2022 and which remains underfunded. This continues to be the forecast position through the next 24 months. The Company is therefore not meeting its reserve funding requirements under the loan contract, which is a potential event of default under the credit agreement, as a result of which the lender could recall the debt.”

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

1

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.