ARMATIRE LIMITED

• ⚠

  Annual accounts overdue

  Due 2025-12-28.

• ⚠

  Material uncertainty over going concern

  Accordingly, these circumstances represent a material uncertainty that may cast significant doubt upon the Group's and the Company's ability to continue as a going concern. If the Group and the Company are unable to secure the necessary funding, they may be unable to realise their assets and discharge their liabilities in the normal course of business.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

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

  -9.1%

  £33,235,076 → £30,211,543

• Cash

  +172.1%

  £1,390,212 → £3,782,365

  highest in 3 filed years

• Net assets

  -12.4%

  -£93,539,133 → -£105,140,729

  lowest in 3 filed years

• Employees

  +0.4%

  237 → 238

• Operating profit

  -87.4%

  -£3,443,580 → -£6,452,372

• Profit before tax

  +32.7%

  -£22,667,144 → -£15,255,756

• Wages

  +6.1%

  £7,559,122 → £8,022,229

  highest 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.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Mercer & Hole LLP

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“Accordingly, these circumstances represent a material uncertainty that may cast significant doubt upon the Group's and the Company's ability to continue as a going concern. If the Group and the Company are unable to secure the necessary funding, they may be unable to realise their assets and discharge their liabilities in the normal course of business.”

Group structure

1. ARMATIRE LIMITED · parent
   1. Cadogan Holdings Limited 100% · UK · Holding company
   2. SQIB Limited 75% · UK · Group investment and holding company
   3. VS 109 Limited 100% · UK · Property investment and development
   4. Zenith Property Holdings Limited 100% · UK · Property holding and investment company
   5. Bewl Events & Waterpark Limited 75% · UK · Property investment and development
   6. Zenith Aviation Limited 75% · UK · Bespoke charter aircraft service

Significant events

• “SQIB Limited entered administration on 7th November 2024, exiting administration on 23rd December 2024, with control being handed back to the directors.”
• “In March 2025, the group sold a subsidiary, Zenith Aviation Limited, to a third party.”
• “A group subsidiary, Zenith Aircraft Limited, sold its two aircraft after the year end on 25 June 2024 and 1 July 2025, for consideration of $6 million and $6.5 million, respectively.”
• “A group subsidiary, Connect Centre Limited, sold its sole property after the year end on 2 September 2024 for consideration of £2.8 million. As a result, the company has plans to cease trading and the directors have resolved that they do not consider the company to be a going concern.”
• “A group subsidiary, Bishops UK Limited, sold Hangar 528 after the year end on 20 May 2025 for proceeds of £800k.”

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.