TINMASTERS LIMITED

• ⚠

  Material uncertainty over going concern

  As outlined in the Fair Review of the Business the company has seen year on year decline in sales of Infant Formula Print and Components, its most significant market, and simultaneously experienced three consecutive years of reduced volumes in its other significant market, UK General Line Print. The phased closure of its major customer means it will become unprofitable and cash consuming from April 2025. The directors have reviewed the market trends and restructuring options and decided in November 2024 to consult with employees regarding the closure of the business, with operations stopping in March 2025. The company was simultaneously considering opportunities to sell the business; however the directors determined that the only option available was to cease trading and liquidate the company, accordingly these financial statements are prepared on a basis other than going concern. No adjustments have been necessary as a result of ceasing to adopt the going concern basis.

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

  -13.3%

  £15,253,270 → £13,223,244

• Cash

  +237.3%

  £312,053 → £1,052,518

• Net assets

  -12.7%

  £6,788,644 → £5,924,339

• Employees

  -6.4%

  78 → 73

• Operating profit

  -58.3%

  -£435,077 → -£688,919

• Profit before tax

  -23.2%

  -£884,776 → -£1,090,451

• Wages

  -0.3%

  £2,996,403 → £2,988,244

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. TINMASTERS LIMITED 2018-05-22 → present
2. CALDICOT METAL DECORATING LIMITED 2010-09-08 → 2018-05-22
3. NEWINCCO 1030 LIMITED 2010-07-30 → 2010-09-08

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

UHY Hacker Young

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As outlined in the Fair Review of the Business the company has seen year on year decline in sales of Infant Formula Print and Components, its most significant market, and simultaneously experienced three consecutive years of reduced volumes in its other significant market, UK General Line Print. The phased closure of its major customer means it will become unprofitable and cash consuming from April 2025. The directors have reviewed the market trends and restructuring options and decided in November 2024 to consult with employees regarding the closure of the business, with operations stopping in March 2025. The company was simultaneously considering opportunities to sell the business; however the directors determined that the only option available was to cease trading and liquidate the company, accordingly these financial statements are prepared on a basis other than going concern. No adjustments have been necessary as a result of ceasing to adopt the going concern basis.”

Significant events

• “A large proportion of the company's revenue derives from a single infant formula customer who primarily focus on a single geographic market, China. On 18 October 2023 this customer announced their decision to close their operation in Quarter 1 of 2026. The decision to close was based mainly on declining sales which was caused by a dramatic and prolonged fall in the Chinese birthrate. The falling Chinese birthrate compounded by additional factors has resulted in lower Infant Formula Print and Component sales for Tinmasters in 2023 and also 2024, and is the primary factor leading to a decision in November 2024 to consult with employees on ceasing operations in March 2025, whilst simultaneously considering options to sell the business. The company also experienced further decline in sales from its other major market, UK General Line Print, in 2023, and sales to date in 2024 show significant decline for the third consecutive year. The directors have determined that the only option for the company is to cease trading in 2025.”

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.