FIBRESPEED LIMITED

• ⚠

  Material uncertainty over going concern

  A material uncertainty related to the going concern assumption exist within these financial statements. The management assessed different scenarios for the future development of the Company which demonstrated that going concern concept is applicable for the financial statements as of 31 December 2024 and the Company has enough liquidity to meet its obligations as and when due.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

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

  -8.6%

  £3,090,000 → £2,823,000

• Cash

  -1.6%

  £8,365,000 → £8,235,000

• Net assets

  +288.5%

  £183,000 → £711,000

• Employees

  0%

  2 → 2

• Operating profit

  -30.8%

  £1,086,000 → £751,000

• Profit before tax

  -30.7%

  £1,081,000 → £749,000

• Wages

  +9.4%

  £203,000 → £222,000

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

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Crowe U.K. LLP

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“A material uncertainty related to the going concern assumption exist within these financial statements. The management assessed different scenarios for the future development of the Company which demonstrated that going concern concept is applicable for the financial statements as of 31 December 2024 and the Company has enough liquidity to meet its obligations as and when due.”

Significant events

• “The original agreement with the Welsh Government expired in March-25. The network is still being operated by Fibrespeed, with an extension agreed until March-26, with the possibility of a further extension to September-26.”
• “The Welsh Government is currently looking to either sell the network or look for other potential network operators to replace Fibrespeed.”

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.