IPSCO LIMITED

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

  +66.3%

  £23,582,620 → £39,212,383

• Cash

  +80.9%

  £1,377,597 → £2,491,939

  highest in 5 filed years

• Net assets

  +24.8%

  -£14,503,316 → -£10,910,264

• Employees

  +12.7%

  79 → 89

• Operating profit

  +158.7%

  £1,743,411 → £4,509,612

• Profit before tax

  +2,401.5%

  -£162,382 → £3,737,202

• Wages

  +23.7%

  £3,336,249 → £4,125,986

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.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Gerald Edelman LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“As a result of the above the directors have a reasonable expectation that the Group and Company has adequate resources to continue in operational existence for the foreseeable future, being a period of not less than twelve months from the date of approval of these financial statements, and continue to adopt the going concern basis of accounting in preparing the financial statements.”

Group structure

1. IPSCO LIMITED · parent
   1. Vertical Pharma Resources Limited 100% · Manufacture and supply of special pharmaceutical products
   2. Intergrated Pharmaceutical Services (IPS) Limited 100% · Holding company

Significant events

• “The Group's turnover includes £27.6M (Year ended 28 February 2024 - £12.2M) from the sales of medicinal cannabis, and correspondingly £21.2M (Year ended 28 February 2024 - £9.8M) to cost of sales.”
• “Subsequent to the year end, the Group's main loan note holders formally extended the repayment date of these loans from 30 June 2025 to 30 June 2028 and the financial covenants amended to create sufficient headroom against base case forecast.”

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

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

1

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.