CATCHMENT MORAY LIMITED

• ⚠

  Material uncertainty over going concern

  In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 1 to the financial statements concerning the company's ability to continue as a going concern. During the year, the Company has breached its covenants of its bank loan and, as a result, the banking syndicate is entitled to demand immediate repayment of all amounts outstanding on the loans. The directors do not expect the banking syndicate to recall the loan but the covenant breaches remain and have not been waived formally by the banking syndicate. Additionally, the Company has a loan from its immediate parent. The Company is currently unable to meet the scheduled repayments, necessitating a waiver or confirmation from the parent company that immediate repayment will not be demanded, which is not in place at the date of the approval of these financial statements. These conditions, along with the other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern.

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

  +5.5%

  £12,349,643 → £13,034,270

• Cash

  -7.5%

  £6,362,305 → £5,885,056

  lowest in 3 filed years

• Net assets

  -9.3%

  £7,428,560 → £6,736,066

  lowest in 3 filed years

• Employees

  —

  Not reported

• Operating profit

  +24.5%

  £677,386 → £843,397

• Profit before tax

  +30.4%

  -£1,225,201 → -£852,892

  highest in 3 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.

1. CATCHMENT MORAY LIMITED 2000-05-18 → present
2. MACROCOM (615) LIMITED 2000-04-26 → 2000-05-18

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“In forming our opinion on the financial statements, which is not modified, we have considered the adequacy of the disclosure made in note 1 to the financial statements concerning the company's ability to continue as a going concern. During the year, the Company has breached its covenants of its bank loan and, as a result, the banking syndicate is entitled to demand immediate repayment of all amounts outstanding on the loans. The directors do not expect the banking syndicate to recall the loan but the covenant breaches remain and have not been waived formally by the banking syndicate. Additionally, the Company has a loan from its immediate parent. The Company is currently unable to meet the scheduled repayments, necessitating a waiver or confirmation from the parent company that immediate repayment will not be demanded, which is not in place at the date of the approval of these financial statements. These conditions, along with the other matters explained in note 1 to the financial statements, indicate the existence of a material uncertainty which may cast significant doubt about the company's ability to continue as a going concern.”

Significant events

• “During the year the Company breached its loan covenants, entitling the lenders to demand repayment of all amounts outstanding on the loans should they choose to. The Company has continued to pay all interest and principal to its lenders as payments have fallen due, and the lenders have not indicated that repayment of the loans will be demanded, although the possibility remains that they may exercise their legal right to do so. The Company continues to provide regular updates to the lenders, with a view to ensuring ongoing support.”

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

Filings

2

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.