BARWELL PLC

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 2 in the financial statements, which indicates that there is a material uncertainty relating to going concern. Barwell Plc reports net liabilities of ","8,890,445 at its year end date. Historically, Barwell Plc's principal creditor was the late Viscount Gough who was a director and shareholder of Barwell Plc. However, during the year under review, the late Viscount Gough's investment in Barwell Plc, comprising of his shareholding and loan advance made to the company, have been transferred from his estate to The Gough Charitable Trust. The directors have had dialogue with the trustees of The Gough Charitable Trust with regard to the ongoing financial support for the company. However, at the date of signing the financial statements, the trustees have been unable to confirm their ongoing commitment to support the company, through meeting its day to day cash flow requirements and providing assurance that they would not recall the substantial loan for a period of at least 12 months from the date of signing the financial statements. As this support cannot be obtained at the date of signing the financial statements, as stated in Note 2 of these financial statements, these events, along with the other matters outlined in this note, indicate that 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 in respect of this matter.

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

  +64.7%

  £12,115 → £19,956

• Cash

  +1,155.4%

  £1,183 → £14,851

• Net assets

  —

  Not reported

• Employees

  —

  Not reported

• Operating profit

  +87.8%

  -£475,600 → -£57,950

• Profit before tax

  +71.6%

  -£3,888,427 → -£1,105,599

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

Robb Ferguson

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 2 in the financial statements, which indicates that there is a material uncertainty relating to going concern. Barwell Plc reports net liabilities of ","8,890,445 at its year end date. Historically, Barwell Plc's principal creditor was the late Viscount Gough who was a director and shareholder of Barwell Plc. However, during the year under review, the late Viscount Gough's investment in Barwell Plc, comprising of his shareholding and loan advance made to the company, have been transferred from his estate to The Gough Charitable Trust. The directors have had dialogue with the trustees of The Gough Charitable Trust with regard to the ongoing financial support for the company. However, at the date of signing the financial statements, the trustees have been unable to confirm their ongoing commitment to support the company, through meeting its day to day cash flow requirements and providing assurance that they would not recall the substantial loan for a period of at least 12 months from the date of signing the financial statements. As this support cannot be obtained at the date of signing the financial statements, as stated in Note 2 of these financial statements, these events, along with the other matters outlined in this note, indicate that 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 in respect of this matter.”

Group structure

1. BARWELL PLC · parent
   1. GM Innovations Limited 69.77% · Scotland · Development of fluid separation technology
   2. Hydro Innovations Limited 60% · Scotland · Engineering design activities

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

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