CORPRO SYSTEMS LIMITED

Figures converted to GBP from USD at 0.742 per USD (Frankfurter spot rate) — hover any figure for the original. — 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

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. CORPRO SYSTEMS LIMITED 1988-09-26 → present
2. SURATE LIMITED 1988-04-13 → 1988-09-26

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors continue to adopt the going concern basis in preparing the annual financial statements on the basis that the directors consider that the company has adequate resources to continue its operations for the foreseeable future The company continues to receive financial support from its parent company Reservoir Group Limited. The directors have engaged with Reservoir Group Limited to understand the financial position of the wider group and have satisfied themselves that it has appropriate resources to support the company if required. This is evidenced by a healthy cash position of over $5.3m (sum of cash balance across Reservoir Group Limited) at the time of issue of this report while the current year trading performance demonstrates strong results in terms of turnover and profitability. Based on their projections and using a "harsh but plausible scenario" the directors consider that the Company and Group have adequate financial resources available including stable operations which is expected to continue until 31 December 2027. These scenarios included cash flow projections if current revenue forecasts were reduced by 5%, 10%, 20% and 30% whilst costs remained at current levels. In the scenario of a revenue decline, management would utilise various cost saving measures to align the costs accordingly to maintain projected margins. The directors consider that the company has adequate financial resources available including stable operations which is expected to continue for the going concern period to 31 December 2027.”

Group structure

1. CORPRO SYSTEMS LIMITED · parent
   1. Reservoir Group do Brazil Servicos de Petroleo Ltda 100% · Brazil
   2. Corpro Al Saudia Co. 92.5% · Kingdom of Saudi Arabia

Significant events

• “During the year, the Company recognised an impairment charge of $1.43 million against its investment in Reservoir Group do Brasil Servicos Ltda. The impairment arose following a reduction in forecast cash flows resulting from lower levels of customer activity and delays to exploration projects within the Brazilian oil and gas market.”

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.