MED CABLE LIMITED

• ⚠

  Material uncertainty over going concern

  As a result of regulatory restrictions imposed on the use of its cable infrastructure, the Company's ability to continue as a going concern is dependent on funding from VEON Ltd. This reliance on group and continued suspension of its license to operate with no indication of when, or if, such suspension will be lifted indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern.

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

  —

  Not reported

• Cash

  +42.6%

  £6,314 → £9,002

• Net assets

  -3.8%

  -£2,648,559 → -£2,748,580

• Employees

  —

  Not reported

• Operating profit

  +85.7%

  -£613,661 → -£87,625

• Profit before tax

  +84%

  -£625,397 → -£100,021

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. MED CABLE LIMITED 2004-09-01 → present
2. LANDBRICK LIMITED 2004-07-22 → 2004-09-01

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

MHA

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As a result of regulatory restrictions imposed on the use of its cable infrastructure, the Company's ability to continue as a going concern is dependent on funding from VEON Ltd. This reliance on group and continued suspension of its license to operate with no indication of when, or if, such suspension will be lifted indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern.”

Significant events

• “On 24 November 2022, VEON has entered into an agreement to sell VEON's Russian operations to certain senior members of the management team of group entity PJSC VimpelCom and was closed in October 2023. Nonetheless, this does not have any direct impact on the Company's operating activity.”
• “In May 2010, Med Cable's fellow group company Orascom Telecom Algeria ("OTA"), which owns part of infrastructure, received notification from the Algerian Regulation Authority of Post and Telecommunications ("ARPT") that all telecommunications traffic going through its cables should cease effective from 30 May 2010. Accordingly, the international gateway licence enabling OTA's licence to operate its network cable was suspended and operation of the cable ceased, resulting in no ongoing revenue or cash inflow for the Company. Without the licence being granted, Med Cable has no means of generating revenues.”

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

Filings

4

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.