NARF INDUSTRIES PLC
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Cash
£58k
USD 77,065
-44.8% lowest in 3 filed years
Net assets
-£2.7m
USD -3,528,059
-15.5% lowest in 3 filed years
Employees
15
0% vs 2025
Profit before tax
-£740k
USD -978,758
+73.1% highest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The Directors believe the Company and the Group have sufficient resources to continue in operational existence for the foreseeable future and at least until 30 July 2027, being 12 months after the date these financial statements were issued. Currently, management believe that the Group's existing contract pipeline and cash flow management provides sufficient runway to enable it to continue through the next period to execute its medium-term strategy without new capital resources or significant reliance on near term additional contracts awards. Nonetheless, these conditions indicate a material uncertainty exists that may cast significant doubt on the Group's ability to remain a going concern through to July 2027.
-
Going-concern uncertainty disclosed
-
Negative shareholders' funds
Net assets
3-year trend · vs Technology median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2026-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £5,995,766 | £2,317,316 | £3,416,175 | +47.4% | |
| Operating profit | -£1,083,096 | -£2,667,605 | -£633,391 | +76.3% | |
| Profit before tax | -£1,139,515 | -£2,751,998 | -£740,082 | +73.1% | |
| Net profit | -£1,151,589 | -£2,751,998 | -£740,082 | +73.1% | |
| Cash | £518,186 | £105,653 | £58,272 | -44.8% | |
| Total assets less current liabilities | -£188,935 | -£2,309,508 | — | — | |
| Net assets | -£188,935 | -£2,309,508 | -£2,667,719 | -15.5% | |
| Equity | -£188,935 | — | — | — | |
| Average employees | 18 | 15 | 15 | 0% | |
| Wages | £2,898,859 | £2,044,177 | £1,848,413 | -9.6% | |
| Directors' remuneration | £377,426 | £250,315 | £254,655 | +1.7% | |
| Highest paid director | — | £166,901 | £165,355 | -0.9% |
Figures converted to GBP from USD at 0.756 per USD (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|
| Operating margin | -18.1% | -115.1% | -18.5% | |
| Net margin | -19.2% | -118.8% | -21.7% | |
| Gearing (liabilities / total assets) | 109.5% | — | — | |
| Current ratio | 0.46x | 0.24x | 0.20x | |
| Interest cover | -19.19x | -31.61x | -5.93x |
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.
Name history
Renamed 2 times since incorporation
- NARF INDUSTRIES PLC 2022-08-03 → present
- CYBA PLC 2019-01-17 → 2022-08-03
- GCQC PLC 2018-11-28 → 2019-01-17
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- HaysMac LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“The Directors believe the Company and the Group have sufficient resources to continue in operational existence for the foreseeable future and at least until 30 July 2027, being 12 months after the date these financial statements were issued. Currently, management believe that the Group's existing contract pipeline and cash flow management provides sufficient runway to enable it to continue through the next period to execute its medium-term strategy without new capital resources or significant reliance on near term additional contracts awards. Nonetheless, these conditions indicate a material uncertainty exists that may cast significant doubt on the Group's ability to remain a going concern through to July 2027.”
Group structure
- NARF INDUSTRIES PLC · parent
- Narf Industries LLC 100%
- Narf Industries PR LLC 100%
- Narf Holdings US, Inc 100%
Significant events
- “On 20 July 2026, the Group was notified that further work on one GR&D contract had been cancelled following the customer's decision to pursue an alternative technical approach.”
- “Effective 15 June 2026 the loan facility of $3 million provided by the CEO was extended to 31 July 2027.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| WARRENDER, Neil Robert | Secretary | 2024-01-24 | — | — |
| BASSI, Steven Daniel | Director | 2019-02-28 | Jul 1984 | American |
| HAWK, Albert Ikyu | Director | 2024-01-24 | Jan 1960 | American |
| HERRING, John | Director | 2019-02-28 | Jan 1956 | American |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| HEIER, Christopher Peter Rory | Secretary | 2018-11-28 | 2024-01-24 |
| HEIER, Christopher Peter Rory | Director | 2018-11-28 | 2024-01-24 |
| MITCHELL, Robert James Grenville | Director | 2018-11-28 | 2023-04-23 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Christopher Peter Rory Heier | Individual | Shares 25–50%, Voting 25–50% | 2018-11-28 | Ceased 2020-01-01 |
| Mr Robert James Grenville Mitchell | Individual | Shares 25–50%, Voting 25–50% | 2018-11-28 | Ceased 2020-01-01 |
Filing timeline
Last 20 of 52 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-10-21 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-12 | AA | accounts | Accounts with accounts type group | |
| 2026-02-17 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2026-02-16 | CH01 | officers | Change person director company with change date | |
| 2025-08-06 | AA | accounts | Accounts with accounts type group | |
| 2025-02-18 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-21 | RESOLUTIONS | resolution | Resolution | |
| 2024-09-16 | AA | accounts | Accounts with accounts type group | |
| 2024-07-14 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-02-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-29 | AP01 | officers | Appoint person director company with name date | |
| 2024-01-29 | AA01 | accounts | Change account reference date company current extended | |
| 2024-01-25 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-01-25 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-01-25 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-10 | AA | accounts | Accounts with accounts type group | |
| 2023-05-16 | TM01 | officers | Termination director company with name termination date | |
| 2023-03-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-01 | AA | accounts | Accounts with accounts type full | |
| 2022-09-10 | SH01 | capital | Capital allotment shares | |
| 2022-09-10 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.