CORNING LIMITED

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

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

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Significant events

• “In June 2022 the Company entered into an agreement with the Trustees of the Corning UK Pension Plan, a defined benefit plan, to facilitate the Trustees entering into a bulk annuity policy with an insurance company. The policy covers the liabilities of all members of the pension plan, including active members. From April 2023 the plan closed to future accruals and active members were transferred to the defined contribution plan.”
• “In June 2023, the High Court judged that amendments made to the Virgin Media Limited defined benefit pension scheme were invalid because the scheme's actuary did not provide the necessary associated Section 37 certificate. The High Court's decision had wide ranging implications, affecting other schemes that were contracted-out on a salary-related basis, and made amendments between April 1997 and April 2016. The Court of Appeal upheld the 2023 High Court ruling in July 2024 and there are plans to progress investigations into any potential impact for the Company's defined benefit pension schemes. As investigation is still underway by the scheme trustees, the Company considers that the amount of any potential impact on the defined benefit obligation cannot be confirmed with sufficient reliability at the 31 December 2024 year end. We are therefore disclosing this issue as a potential contingent liability at the 31 December 2024 year end and will review again when further clarity is available.”

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

1

last 12 months

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

• Turnover

  +14.1%

  £84,051,000 → £95,873,000

• Cash

  —

  Not reported

• Net assets

  +16%

  £46,287,000 → £53,685,000

• Employees

  0%

  62 → 62

• Operating profit

  +2%

  £3,007,000 → £3,066,000

• Profit before tax

  +15.3%

  £5,134,000 → £5,922,000

• Wages

  +12.6%

  £7,615,000 → £8,575,000

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