LIT FIBRE GROUP LTD

• ⚠

  Accounts not prepared on a going-concern basis

  By 31 December 2024, the Company had transferred its trade and assets to CityFibre Limited, its parent entity, ceased trading and is expected to remain dormant for the foreseeable future. Given the cessation of trade, the directors have concluded that the financial statements should be prepared on a basis other than going concern. No accounting adjustments have been required as a result of the Company ceasing to apply the going concern basis.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

Values shown as filed in the company's annual accounts. — 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

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.

1. LIT FIBRE GROUP LTD 2021-01-13 → present
2. BROADREACH NETWORKS LIMITED 2020-04-16 → 2021-01-13

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Not a going concern (break-up basis)

“By 31 December 2024, the Company had transferred its trade and assets to CityFibre Limited, its parent entity, ceased trading and is expected to remain dormant for the foreseeable future. Given the cessation of trade, the directors have concluded that the financial statements should be prepared on a basis other than going concern. No accounting adjustments have been required as a result of the Company ceasing to apply the going concern basis.”

Significant events

• “On 13 May 2024, the Company was acquired by CityFibre Infrastructure Holdings Limited. Subsequently on 20 December 2024, the following transactions took place: The ownership of the Company was transferred from CityFibre Infrastructure Holdings Ltd to CityFibre Limited. Following this, the trade and assets of the Company were transferred to CityFibre Limited. The trade and assets were transferred at their net book value of £59 million and the Company recognised an intercompany receivable from CityFibre Limited for the same amount. To clear down the Company's balance sheet, a dividend in specie was declared by the Company to satisfy the receivable of £59 million due from CityFibre Limited. On 20 December 2024, the Company transferred its trade and assets to CityFibre Limited and reduced its share capital to £1 ordinary share. Therefore, the Company has ceased trading and is expected to remain dormant for the foreseeable future.”

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

Filings

4

last 12 months

Capital events

2

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

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