TESAB ENGINEERING LIMITED

• ⚠

  Material uncertainty over going concern

  The directors have implemented a plan to assess the future prospects of the company, which at this stage is realistically expected to result in the transfer of the company's trade (including employees, customers and suppliers contractual arrangements), assets and liabilities to McCloskey International Limited, the company's parent undertaking. Such a transfer is not expected to occur until 2026. At this time the directors have no immediate plans to dissolve the company following such a transfer. In these circumstances it is not appropriate to prepare the financial statements on a going concern basis, therefore the directors have prepared these financial statements on an other than going concern basis.

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

  -48.2%

  £38,625,696 → £20,019,592

  lowest in 4 filed years

• Cash

  +511.2%

  £17,630 → £107,756

• Net assets

  -104.6%

  £4,616,711 → -£212,255

  lowest in 4 filed years

• Employees

  -33.3%

  72 → 48

  lowest in 4 filed years

• Operating profit

  -2.6%

  -£3,567,897 → -£3,661,860

• Profit before tax

  -8.4%

  -£4,022,780 → -£4,360,138

• Wages

  -23%

  £2,579,797 → £1,985,320

  lowest in 4 filed years

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)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors have implemented a plan to assess the future prospects of the company, which at this stage is realistically expected to result in the transfer of the company's trade (including employees, customers and suppliers contractual arrangements), assets and liabilities to McCloskey International Limited, the company's parent undertaking. Such a transfer is not expected to occur until 2026. At this time the directors have no immediate plans to dissolve the company following such a transfer. In these circumstances it is not appropriate to prepare the financial statements on a going concern basis, therefore the directors have prepared these financial statements on an other than going concern basis.”

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

Filings

3

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.