GIGACLEAR TOPCO LIMITED

• ⚠

  Material uncertainty over going concern

  Gigaclear's Directors decided to prepare the financial statements of the Group and Company on a basis other than going concern. This is a result of the Directors intention to liquidate Gigaclear Topco Limited and Gigaclear Midco Limited within 12 months following the proposed disposal of the indirect investment in Gigaclear Limited, the sole trading investment (see Note 2 of the Notes to Financial Statements).

• ◆

  4 officer resignations in last 12 months

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

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

  +39.4%

  £33,849,000 → £47,183,000

• Cash

  +319.7%

  £10,482,000 → £43,995,000

• Net assets

  -445.4%

  £50,802,000 → -£175,446,000

• Employees

  +5.6%

  738 → 779

• Operating profit

  -167.6%

  -£67,805,000 → -£181,454,000

• Profit before tax

  -60.7%

  -£140,783,000 → -£226,248,000

• Wages

  +2.2%

  £38,837,000 → £39,683,000

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

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Gigaclear's Directors decided to prepare the financial statements of the Group and Company on a basis other than going concern. This is a result of the Directors intention to liquidate Gigaclear Topco Limited and Gigaclear Midco Limited within 12 months following the proposed disposal of the indirect investment in Gigaclear Limited, the sole trading investment (see Note 2 of the Notes to Financial Statements).”

Group structure

1. GIGACLEAR TOPCO LIMITED · parent
   1. Gigaclear Midco Limited 100% · UK · Holding company
   2. Gigaclear Limited 100% · UK · Telecommunications

Significant events

• “In February 2024, Gigaclear marked the departure of Gareth Williams as CEO and Ian Wade as CFO and welcomed Nathan Rundle as its new CEO. In November 2024, Hugo Eales was appointed as Gigaclear's CFO.”
• “The Group entered into productive dialogue with its lenders, who remained supportive of the business throughout the process, to look for a longer-term solution to the Group's liquidity. In this regard, a recapitalisation transaction is agreed with the lenders, which culminated in the entry into the Lock-up Agreement ("LUA") in November 2025.”
• “As part of the dialogue with the Group's lenders, Gigaclear secured a £80,000,000 Super Senior Facility, with a further £20,000,000 of uncommitted funding available under the Super Senior Facility in December 2025.”
• “In January 2026, the lenders agreed not to pursue an M&A process at this stage. The lenders will instead be taking control of the business in 2026 through an agreed consensual lender led transaction.”
• “Gigaclear Topco Limited will cease to be the subsidiary of Gigaclear Limited when the lender-led transaction is completed. As such, the Directors intend to wind-up Gigaclear Topco Limited.”
• “The Company is required to perform an impairment assessment review under IAS 36 and concluded an impairment of £110.2m on the property, plant and equipment (refer to note 14 for details).”
• “After the year end of 2024, the Group successfully drew down, from the existing debt facilities, £49,675,000. In March and August 2025, the Group has crystalised the interest rate swap, which allows the Group to obtain £44,414,000 cash funding from the banks.”
• “On 31 July 2025, the Group entered into an Amendment Deed ("AD") to the debt facility... On 5 November 2025, the Group has entered into the LUA... On 2 December 2025, the Group entered into the SSFA, which provides £80,000,000 of facility to the business, with a further 20,000,000 of uncommitted funding available under the facility.”

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

Filings

15

last 12 months

Capital events

0

last 24 months

Officers appointed

5

last 12 months

Officers resigned

4

last 12 months

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