FAITH IN NATURE LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 1.2 in the financial statements, which indicates that the company is reliant on the ongoing support of shareholders and other sources of debt funding to provide working capital to the business. The reliance on continued support on these shareholders and investors create conditions that indicate a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified with respect to this matter. The directors anticipate that the company will return to profitability in the future. They have also confirmed that, should it become necessary, financial support will be provided by the company's major shareholders to ensure that the company will be a going concern for at least 12 months from the approval of the financial statements. The directors have considered the financial stability and performance of the company and are satisfied that it will have sufficient resources available to maintain its cash-flow during the period of at least 12 months from the approval of the financial statements. Therefore they remain confident it will continue to be a going concern. In assessing the future profitability of the business, the directors have made assumptions over the expected growth rate and the impact this has on cashflow. There is no guarantee that the growth plans will be successful and that shareholder support and continued investment from third parties will remain available and therefore a material uncertainty over the company's ability to fulfil its debt obligations in the short term remains. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from this uncertainty.

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

  +10.9%

  £15,832,392 → £17,561,632

• Cash

  -69.6%

  £134,337 → £40,802

• Net assets

  -117.5%

  £1,349,323 → -£236,149

• Employees

  +3.9%

  102 → 106

• Operating profit

  -516.1%

  £341,198 → -£1,419,781

• Profit before tax

  -4,477.1%

  £46,632 → -£2,041,146

• Wages

  +11.1%

  £4,222,322 → £4,692,120

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.

1. FAITH IN NATURE LIMITED 2015-04-29 → present
2. FAITH PRODUCTS LIMITED 1979-06-11 → 2015-04-29

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 1.2 in the financial statements, which indicates that the company is reliant on the ongoing support of shareholders and other sources of debt funding to provide working capital to the business. The reliance on continued support on these shareholders and investors create conditions that indicate a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified with respect to this matter. The directors anticipate that the company will return to profitability in the future. They have also confirmed that, should it become necessary, financial support will be provided by the company's major shareholders to ensure that the company will be a going concern for at least 12 months from the approval of the financial statements. The directors have considered the financial stability and performance of the company and are satisfied that it will have sufficient resources available to maintain its cash-flow during the period of at least 12 months from the approval of the financial statements. Therefore they remain confident it will continue to be a going concern. In assessing the future profitability of the business, the directors have made assumptions over the expected growth rate and the impact this has on cashflow. There is no guarantee that the growth plans will be successful and that shareholder support and continued investment from third parties will remain available and therefore a material uncertainty over the company's ability to fulfil its debt obligations in the short term remains. The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result from this uncertainty.”

Group structure

1. FAITH IN NATURE LIMITED · parent
   1. Cosmos Natural Limited 100% · Dormant company
   2. Faithful Friend Limited 100% · Dormant company
   3. Lice Ain't Nice Ltd 100% · Dormant company

Significant events

• “Subsequent to the year end the company secured a further £0.6m of convertible loan notes from a range of high net worth individuals. Additionally, further investment has been secured from a group of high net worth investors and as of the date of signing the accounts the business has entered into heads of terms to complete a fundraising comprising an initial £3.5m of facilities including a minimum of £2.5m of equity financing - of which £2.5m has already been committed on a short term facility pending final documentation converting this to equity.”

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

Filings

7

last 12 months

Capital events

5

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.