TRIESTE GROUP ONE LTD

• ⚠

  Material uncertainty over going concern

  The company traded at a loss and lost cash in the year. Loss for the year is £1,456,797 (2023: £939,895 profit) and net assets are £2,637,809 (2023: £4,094,606). Activity has decreased subsequent to the year end. Despite these conditions, the company continues to operate with adequate financial resources and increased borrowing facilities at the time of approval of these financial statements. The company has breached its bank loan covenants in 2024 and whilst the bank has the right to recall the loan, the bank is continuing to support the company. Having made enquiries, and based on the forecasts and budgets produced which show long term cash generation and profit generation, the directors have concluded that there is a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of the audit report of these financial statements. The directors therefore continue to adopt the going concern basis in preparing these financial statements.

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

  -30.8%

  £22,461,976 → £15,537,732

• Cash

  -84.4%

  £1,285,980 → £201,035

  lowest in 3 filed years

• Net assets

  -35.6%

  £4,094,606 → £2,637,809

  lowest in 3 filed years

• Employees

  -21.4%

  131 → 103

• Operating profit

  -215.1%

  £1,462,450 → -£1,683,717

• Profit before tax

  -247%

  £1,302,057 → -£1,914,161

  lowest in 3 filed years

• Wages

  -6.1%

  £5,987,058 → £5,624,242

  lowest in 3 filed years

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. TRIESTE GROUP ONE LTD 2016-09-07 → present
2. TABLE PORTFOLIO LIMITED 2012-03-15 → 2016-09-07

Accounting basis

FRS 102

Auditor

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The company traded at a loss and lost cash in the year. Loss for the year is £1,456,797 (2023: £939,895 profit) and net assets are £2,637,809 (2023: £4,094,606). Activity has decreased subsequent to the year end. Despite these conditions, the company continues to operate with adequate financial resources and increased borrowing facilities at the time of approval of these financial statements. The company has breached its bank loan covenants in 2024 and whilst the bank has the right to recall the loan, the bank is continuing to support the company. Having made enquiries, and based on the forecasts and budgets produced which show long term cash generation and profit generation, the directors have concluded that there is a reasonable expectation that the company has adequate resources to continue in operational existence for at least 12 months from the date of the audit report of these financial statements. The directors therefore continue to adopt the going concern basis in preparing these financial statements.”

Significant events

• “The company experienced a financial down turn in trade throughout 2024, in part due to some market weakness and also the choice to focus on implementing a new ERP.”
• “Since the end of the reporting period, the Company has continued to face challenging market conditions, consistent with the trends observed during the year. Demand remains in line with 2024, and cost pressures have persisted, which are expected to impact short-term performance. In response, the Board has commenced a strategic review to reposition the business for long-term sustainability and profitability.”

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

2

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.