MOBICUBE LIMITED

• ◆

  Material uncertainty over going concern

  As at 31 December 2024, the Company had a cash balance of £3,253 and is currently reliant on its parent company, Upstream Mobile Commerce Limited, for working capital funding. The directors of Upstream Mobile Commerce Limited have confirmed to the directors that it will continue to support the company for a period of at least 12 months after the date of signing these accounts. Upstream Mobile Commerce Limited, in its financial statements, has concluded that the going concern basis of accounting is appropriate. This conclusion is based on a number of assumptions including the successful completion of a debt restructuring agreement of the ultimate parent company, the rollover of existing debt by the banks, and optimistic projections of future operating cash flows. However, these assumptions involve significant judgment and uncertainty. Accordingly, the financial statements of Upstream Mobile Commerce Limited acknowledge that a material uncertainty exists which may cast significant doubt on its ability to continue as a going concern.

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

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. 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. MOBICUBE LIMITED 2016-05-24 → present
2. AVYRA SYSTEMS UK LIMITED 2013-05-16 → 2016-05-24

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Gravita Audit II Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As at 31 December 2024, the Company had a cash balance of £3,253 and is currently reliant on its parent company, Upstream Mobile Commerce Limited, for working capital funding. The directors of Upstream Mobile Commerce Limited have confirmed to the directors that it will continue to support the company for a period of at least 12 months after the date of signing these accounts. Upstream Mobile Commerce Limited, in its financial statements, has concluded that the going concern basis of accounting is appropriate. This conclusion is based on a number of assumptions including the successful completion of a debt restructuring agreement of the ultimate parent company, the rollover of existing debt by the banks, and optimistic projections of future operating cash flows. However, these assumptions involve significant judgment and uncertainty. Accordingly, the financial statements of Upstream Mobile Commerce Limited acknowledge that a material uncertainty exists which may cast significant doubt on its ability to continue as a going concern.”

Group structure

1. MOBICUBE LIMITED · parent
   1. Avyra South Africa PTY LTD 100% · South Africa · operating in the mobile marketing sector
   2. Avyra Systems Limited Nigeria 99.95% · Nigeria · operating in the mobile marketing sector

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

1

last 12 months

Officers resigned

1

last 12 months

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