SILVERFISH GROUP HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  The principal risk to the Group's going concern position relates to liquidity, reflecting the impact of recent sector-wide challenges on working capital and profitability... At the time of signing, the group is in breach of certain financial covenants... these balances... are technically repayable on demand... The directors acknowledge these facts currently represent a material uncertainty that, if they were not addressed, would have the potential to cast doubt on the entity's ability to continue as a going concern at the date of approval.

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

  0%

  £700,000 → £700,000

• Cash

  +2,085.7%

  £2,651 → £57,944

• Net assets

  -88.5%

  £6,566,070 → £753,022

• Employees

  0%

  5 → 5

• Operating profit

  +322.1%

  £71,352 → £301,189

• Profit before tax

  -709.6%

  £953,538 → -£5,813,048

• Wages

  +5.5%

  £244,230 → £257,756

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. SILVERFISH GROUP HOLDINGS LIMITED 2022-01-06 → present
2. ENSCO 1437 LIMITED 2021-10-06 → 2022-01-06

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PKF Francis Clark

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The principal risk to the Group's going concern position relates to liquidity, reflecting the impact of recent sector-wide challenges on working capital and profitability... At the time of signing, the group is in breach of certain financial covenants... these balances... are technically repayable on demand... The directors acknowledge these facts currently represent a material uncertainty that, if they were not addressed, would have the potential to cast doubt on the entity's ability to continue as a going concern at the date of approval.”

Group structure

1. SILVERFISH GROUP HOLDINGS LIMITED · parent
   1. Silverfish UK (Holdings) Limited 100% · England and Wales · holding company
   2. Silverfish UK Limited 100% · England and Wales · importer and wholesaler of bicycles, bicycle clothing and accessories.

Significant events

• “The sale and leaseback of the Saltash property in October 2025, which provided an additional £1.5 million of liquidity.”
• “Prior year figures included a £2.2m bank loan write-down, presented as an exceptional item, and a £17m shareholder loan note write-down, presented as a capital contribution within equity.”
• “On 30 April 2024 the group breached a financial covenants on its bank borrowings, the senior debt facility, causing a cross-default on the other borrowings. As a result these liabilities are presented as current at year end.”
• “On 30 September 2024 the group breached a financial covenants on its bank borrowings, the senior debt facility, causing a cross-default on the other borrowings. As a result these liabilities are presented as current at year end.”
• “The senior lender ThinCats has remained supportive of the business and we expect to reset covenants in the near future and it has confirmed its intention to waive historical breaches as part of the reset.”

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.