METROCENTRE FINANCE PLC

• ⚠

  Material uncertainty over going concern

  The Directors consider that the events and conditions described below indicate that material uncertainties exist that may cast significant doubt on the Company's ability to continue as a going concern, and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business. Having carefully considered this material uncertainty, the Directors have formed the judgement that it is appropriate to prepare the financial statements of the Company on the going concern basis, based on the approved refinancing.

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

  —

  Not reported

• Cash

  +12.2%

  £43,330 → £48,607

• Net assets

  -15.8%

  -£208,448,998 → -£241,459,036

• Employees

  —

  Not reported

• Profit before tax

  -128.9%

  -£14,423,454 → -£33,009,788

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

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. METROCENTRE FINANCE PLC 2021-03-03 → present
2. INTU METROCENTRE FINANCE PLC 2013-09-24 → 2021-03-03

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors consider that the events and conditions described below indicate that material uncertainties exist that may cast significant doubt on the Company's ability to continue as a going concern, and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business. Having carefully considered this material uncertainty, the Directors have formed the judgement that it is appropriate to prepare the financial statements of the Company on the going concern basis, based on the approved refinancing.”

Significant events

• “On 29 October 2020, Noteholders agreed to certain forbearance, amendments and waivers including in relation to events of default and covenant breaches.”
• “On 18 August 2022, the Company entered into a Restructuring Master Amendment Deed.”
• “On 5 April 2024, the updated business plan was approved and extended to cover the three year period from 1 January 2024 to 31 December 2026.”
• “On 26 April 2024, the Borrower's obligation to repay the New Money Note was extended to December 2025 and on 21 May 2024, the Borrower's obligation to repay the Loan was also extended to December 2025.”
• “On 16 August 2024 the Borrower appointed a debt advisory firm to advise on the refinancing of the current New Money Notes and Liquidity Facility.”
• “A refinancing process with a major High St lender is currently underway and is expected to complete in July 2025.”

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

Filings

2

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.