GALILEO HOLDCO 1 LIMITED

• ⚠

  Material uncertainty over going concern

  As a consequence of the deterioration in trading performance, the forecast covenant breaches, the company's subsidiary, Galileo Global Technologies liquidity requirements and the implementation of the restructuring, the directors have determined, subsequent to the reporting date, that it is no longer appropriate for the Company and Group to prepare its financial statements on a going concern basis. The financial statements have therefore been prepared on a basis other than going concern with assets written down to recoverable based on conditions that existed at the balance sheet date.

• ◆

  9 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Figures converted to GBP from USD at 0.748 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +33.2%

  £78,897,361 → £105,066,906

• Cash

  -28%

  £7,211,632 → £5,191,747

• Net assets

  +91.5%

  -£313,858,862 → -£26,678,627

• Employees

  -4.5%

  709 → 677

• Operating profit

  +83.7%

  -£24,436,720 → -£3,974,733

• Profit before tax

  +28.5%

  -£91,433,804 → -£65,411,527

• Wages

  -6.7%

  £28,472,752 → £26,559,019

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

IFRS

Reporting scope

Consolidated group

Auditor

Moore Kingston Smith LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As a consequence of the deterioration in trading performance, the forecast covenant breaches, the company's subsidiary, Galileo Global Technologies liquidity requirements and the implementation of the restructuring, the directors have determined, subsequent to the reporting date, that it is no longer appropriate for the Company and Group to prepare its financial statements on a going concern basis. The financial statements have therefore been prepared on a basis other than going concern with assets written down to recoverable based on conditions that existed at the balance sheet date.”

Group structure

1. GALILEO HOLDCO 1 LIMITED · parent
   1. Galileo Holdco 2 Limited 100% · United Kingdom
   2. Galileo Global Technologies Limited 100% · United Kingdom
   3. Galileo Technologies S.A. 100% · Argentina
   4. GNC Galileo Venezuela S.A. 100% · Venezuela
   5. Gaz Naturel Incorporated 100% · United States of America
   6. Comusa Incorporated 100% · United States of America
   7. Galileo Technologies Corporation 100% · United States of America
   8. Methax UK Limited 100% · United Kingdom
   9. Galileo Technologies SAS 100% · France
   10. Edge Europe Holdco Limited 100% · United Kingdom
   11. Edge Holdco UK Limited 100% · United Kingdom
   12. Edge International Holdings 2 inc 100% · United States of America
   13. Galileo Tecnologia para Gas Limited 100% · Brazil

Significant events

• “On November 4, 2024, the Group sold its participation in Edge Gathering Virtual Pipelines II LLC.”
• “On August 2024, the Company entered into a debt restructuring process and issued equity instruments to related and third parties.”
• “Following the year end, the directors resolved to wind up the Company in an orderly and solvent manner.”
• “On 2 April 2025, the United States Government, under the administration of Donald Trump, announced a significant increase in tariffs on imports into the United States of America.”
• “In August 2025, group management commenced negotiations with the bondholders and presented a stabilisation plan indicating that an immediate liquidity injection of approximately $20 million was required.”

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

Filings

12

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

9

last 12 months

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