HORSEWAY HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  Subsequent to the year end the group experienced lower than anticipated yields from its leek and onion crops which has adversely affected projected revenues and short-term cash flows through the final trading quarter of the 2026 financial year. This cash flow is necessary to fund the 2026/2027 growing season. As a result, the directors have been working with the company's bankers, who have been very supportive in relation to the continuation and processing of the groups overdraft facility to ensure that sufficient working capital is available to support the 2026/2027 growing season and associated operating costs. The directors have prepared cash flow forecasts covering a period of at least twelve months from the date of approval of the financial statements which indicate that the group will be reliant on additional funding. The directors consider this additional funding will be sufficient to meet the group's liabilities as they fall due, therefore continue to adopt the going concern basis of preparation.

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

  +1.1%

  £17,775,623 → £17,972,881

• Cash

  -61.2%

  £1,608,171 → £624,679

• Net assets

  +21.8%

  £5,278,120 → £6,428,408

  highest in 3 filed years

• Employees

  +1.5%

  68 → 69

  highest in 3 filed years

• Operating profit

  -52.4%

  £3,256,772 → £1,550,311

• Profit before tax

  -52.1%

  £2,913,446 → £1,394,256

• Wages

  +13.2%

  £3,428,669 → £3,882,963

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. HORSEWAY HOLDINGS LIMITED 2013-10-03 → present
2. GAG368 LIMITED 2012-10-29 → 2013-10-03

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Thompson Taraz Rand Audit and Assurance Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Subsequent to the year end the group experienced lower than anticipated yields from its leek and onion crops which has adversely affected projected revenues and short-term cash flows through the final trading quarter of the 2026 financial year. This cash flow is necessary to fund the 2026/2027 growing season. As a result, the directors have been working with the company's bankers, who have been very supportive in relation to the continuation and processing of the groups overdraft facility to ensure that sufficient working capital is available to support the 2026/2027 growing season and associated operating costs. The directors have prepared cash flow forecasts covering a period of at least twelve months from the date of approval of the financial statements which indicate that the group will be reliant on additional funding. The directors consider this additional funding will be sufficient to meet the group's liabilities as they fall due, therefore continue to adopt the going concern basis of preparation.”

Group structure

1. HORSEWAY HOLDINGS LIMITED · parent
   1. Allpress Farms Limited 100% · Farming
   2. Horseway Energy Ltd 100% · Energy production
   3. N&P Allpress Limited 100% · Letting of prime agricultural land

Significant events

• “Subsequent to the year end, Allpress Farms Limited has experienced lower than expected yields from its leek and onion crops, which has had an adverse impact on projected revenues and cash flows. As a result of the weaker crop performance, the directors have been engaged in discussions with the bankers of Allpress Farms Limited to increase it's overdraft facility in order to provide sufficient working capital to support the 2026/2027 growing season and associated production costs. The bank have been very supportive of the business in this respect.”

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

2

last 12 months

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