MAGAWELL LIMITED

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  Material uncertainty over going concern

  These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the Company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the Company's ability to continue as a going concern. The group forecasts show expected covenant compliance for the period ending 30 June 2026 and for future periods, however it is noted that there is limited headroom in the covenant calculations, and that the future covenants would be breached in the event of reasonably plausible under performance. This along with the lack of formal covenant waivers from the group's bankers indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern.

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  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.

Accounting basis

FRS 102

Auditor

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the Company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the Company's ability to continue as a going concern. The group forecasts show expected covenant compliance for the period ending 30 June 2026 and for future periods, however it is noted that there is limited headroom in the covenant calculations, and that the future covenants would be breached in the event of reasonably plausible under performance. This along with the lack of formal covenant waivers from the group's bankers indicate the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern.”

Group structure

1. MAGAWELL LIMITED · parent
   1. Aneurin Evans Chemists Limited 100% · United Kingdom

Significant events

• “The bank loan in the parent company Brentmark Limited is secured by a debenture and composite guarantee from Magawell Limited.”
• “On 15 April 2024, the company disposed of two of its pharmacies for proceeds of £1,678,753.”

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.