WIGHT SHIPYARD COMPANY LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to the profit and loss account within these financial statements, which indicates that the company made a significant loss before tax for the year of £2,907,074 (2023: £7,206,363). It is noted that the company did achieve a gross profit of £918,913 during the year (2023: gross loss of £3,845,084). We also draw attention to the fact a deferred tax asset has been recognised in respect of the tax losses being carried forward to offset against future profits. Following discussions with the directors and reviewing their business plan for the next 3-5 years, we believe that should the company achieve its intended plan, the deferred tax asset will be realised. These events or conditions, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our opinion is not modified in respect of this matter.

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

  +95%

  £9,997,618 → £19,500,045

• Cash

  +428.7%

  £48,627 → £257,086

• Net assets

  -94.3%

  £886,954 → £50,890

• Employees

  +15.2%

  112 → 129

• Operating profit

  +61%

  -£6,886,105 → -£2,682,221

• Profit before tax

  +59.7%

  -£7,206,363 → -£2,907,074

• Wages

  +22.9%

  £4,260,383 → £5,235,910

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

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Alliott Wingham Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to the profit and loss account within these financial statements, which indicates that the company made a significant loss before tax for the year of £2,907,074 (2023: £7,206,363). It is noted that the company did achieve a gross profit of £918,913 during the year (2023: gross loss of £3,845,084). We also draw attention to the fact a deferred tax asset has been recognised in respect of the tax losses being carried forward to offset against future profits. Following discussions with the directors and reviewing their business plan for the next 3-5 years, we believe that should the company achieve its intended plan, the deferred tax asset will be realised. These events or conditions, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our opinion is not modified in respect of this matter.”

Significant events

• “In April 2025, the company signed new commercial contracts for 4 pilot boats and 1 hunt-class vessel to be built, resulting in a solid pipeline of at least 12 months' secured revenue.”
• “The company will deliver its first fully electric vessel in June 2025 keeping it at the forefront of innovation and opening up new market opportunities.”

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

1

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.