TECHNICAL CONSUMER PRODUCTS LIMITED

• ⚠

  Material uncertainty over going concern

  At the time of approving the financial statements, the director acknowledges a material uncertainty in respect of going concern as the company, at the year end date, had net current liabilities of £4,129,343 and net liabilities of £4,112,447. The director has received confirmation that Paragon Enterprises Inc, a company incorporated in the USA, has committed to provide financial support for a period of at least 12 months from the approval of these financial statements, if required. On this basis, in the view of the Director, after considering profit and cashflow forecasts for a period of 12 months from the date of approval of these financial statements, deem it appropriate to continue to prepare these financial statements on a going concern basis, which assumes that the company will continue in operational existence for a period of at least 12 months from the date those financial statements were approved.

• ◆

  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

  +2%

  £8,552,348 → £8,724,418

• Cash

  -74.1%

  £1,223,690 → £317,241

• Net assets

  -12.8%

  -£3,645,999 → -£4,112,447

• Employees

  -20%

  15 → 12

• Operating profit

  +25.6%

  -£641,274 → -£477,099

• Profit before tax

  +25.7%

  -£628,146 → -£466,448

• Wages

  -5.4%

  £804,561 → £760,858

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

Azets

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“At the time of approving the financial statements, the director acknowledges a material uncertainty in respect of going concern as the company, at the year end date, had net current liabilities of £4,129,343 and net liabilities of £4,112,447. The director has received confirmation that Paragon Enterprises Inc, a company incorporated in the USA, has committed to provide financial support for a period of at least 12 months from the approval of these financial statements, if required. On this basis, in the view of the Director, after considering profit and cashflow forecasts for a period of 12 months from the date of approval of these financial statements, deem it appropriate to continue to prepare these financial statements on a going concern basis, which assumes that the company will continue in operational existence for a period of at least 12 months from the date those financial statements were approved.”

Group structure

1. TECHNICAL CONSUMER PRODUCTS LIMITED · parent
   1. Wolbu Limited 100% · England · Dormant

Significant events

• “The company suffered a cyber attack which resulted in a significant loss of financial information. Consequently we have been unable to obtain sufficient and appropriate audit evidence about the occurance and cut off of sales and we have been unable to obtain sufficient and appropriate audit evidence about stock values and stock provisions.”
• “loss of a key customer, Homebase, which went into liquidation in the year.”

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

Filings

2

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.