PRAGMATIC SEMICONDUCTOR LIMITED

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  Material uncertainty over going concern

  Based on the above, the directors believe it remains appropriate to prepare the financial statements on a going concern basis. However, the circumstances described indicate there is a material uncertainty that may cast significant doubt on the entity's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.

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  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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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

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. PRAGMATIC SEMICONDUCTOR LIMITED 2020-11-09 → present
2. PRAGMATIC PRINTING LIMITED 2010-11-24 → 2020-11-09
3. FUSIONFORM LIMITED 2010-10-29 → 2010-11-24

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Based on the above, the directors believe it remains appropriate to prepare the financial statements on a going concern basis. However, the circumstances described indicate there is a material uncertainty that may cast significant doubt on the entity's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.”

Group structure

1. PRAGMATIC SEMICONDUCTOR LIMITED · parent
   1. Pragmatic Semiconductor Inc · no trading activity

Significant events

• “In December 2023, the Company announced the successful completion of its series D equity raise. The first close had total receipts of £162 million, co-led by M&G Catalyst and UK Infrastructure Bank (UKIB) with the balance of £12 million received during 2024 as part of the second close.”
• “The Company intends to raise additional capital during 2026, initially through a bridging facility in the form of convertible loan notes (CLN) followed by a series E equity financing round.”
• “Subsequent to the year end, the Company issued 19,531 D Ordinary shares for £5m in respect of Series D subscription agreements. Of the total proceeds, £0.75m was received during the year and is included within other creditors (Note 19), with the remaining £4.25m received on 27 April 2026.”
• “Subsequent to the year end, the Company issued £36m of secured convertible loan notes.”

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

Filings

13

last 12 months

Capital events

1

last 24 months

Officers appointed

3

last 12 months

Officers resigned

3

last 12 months

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