LE COL LIMITED

• ⚠

  Material uncertainty over going concern

  The directors have prepared and considered detailed trading and cashflow projections for a period of at least 12 months from the date of approval of these financial statements. A rolling weekly cashflow model is updated each week to review cash inflows and outflows over the short term, and a detailed budget setting process is used to build a longer term integrated financial model to review cashflow over a multi-year horizon. In making this assessment, the directors have considered the financial position, cash flow forecasts, current and expected business performance and other anticipated economic conditions. Based on this review, the directors believe that the company will be able to meets its liabilities as they fall due. However, whilst EBITDA performance has improved from 2023 to 2024 with more significant improvements forecast in 2025, sensitivities performed against the business plan indicates a material uncertainty in the financial statements. Should certain adverse conditions materialise, the company may require additional funding beyond the current existing working capital. Management currently expects that additional funding will not be required, and on that basis, no additional facilities have been secured. The directors have concluded that the combination of these circumstances represents a material uncertainty that may cast significant doubt upon the company's ability to continue as a going concern and that, therefore, the company may be unable to realise its assets and discharge its liabilities in the normal course of business. After considering the forecasts, sensitivities and mitigating actions, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.

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

  -0.7%

  £11,844,593 → £11,760,772

  lowest in 4 filed years

• Cash

  -38.3%

  £719,633 → £444,047

• Net assets

  +70.5%

  -£14,406,156 → -£4,254,039

• Employees

  -6.5%

  46 → 43

• Profit before tax

  +18.7%

  -£3,633,253 → -£2,955,630

• Wages

  -3.2%

  £2,275,050 → £2,201,676

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

S&W Partners Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors have prepared and considered detailed trading and cashflow projections for a period of at least 12 months from the date of approval of these financial statements. A rolling weekly cashflow model is updated each week to review cash inflows and outflows over the short term, and a detailed budget setting process is used to build a longer term integrated financial model to review cashflow over a multi-year horizon. In making this assessment, the directors have considered the financial position, cash flow forecasts, current and expected business performance and other anticipated economic conditions. Based on this review, the directors believe that the company will be able to meets its liabilities as they fall due. However, whilst EBITDA performance has improved from 2023 to 2024 with more significant improvements forecast in 2025, sensitivities performed against the business plan indicates a material uncertainty in the financial statements. Should certain adverse conditions materialise, the company may require additional funding beyond the current existing working capital. Management currently expects that additional funding will not be required, and on that basis, no additional facilities have been secured. The directors have concluded that the combination of these circumstances represents a material uncertainty that may cast significant doubt upon the company's ability to continue as a going concern and that, therefore, the company may be unable to realise its assets and discharge its liabilities in the normal course of business. After considering the forecasts, sensitivities and mitigating actions, the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.”

Significant events

• “2024 continued to be a challenging year for the cycling industry, following the COVID boom in cycling. Le Col finalised the restructuring review of the company that initially occurred in late 2022. The key restructuring action for the company in 2024 was the rationalization of the overhead and headcount at the UK head office. This restructuring was finalised by October 2024 and has allowed the business to improve its working capital, mitigate its operating losses, achieve a more flexible and responsive supply chain, and provide a clear pathway to profitability in the coming years.”

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

Filings

11

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

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