JAMES FISHER (SHIPPING SERVICES) LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 1 in the financial statements, which sets out the Company's dependence on support from the James Fisher and Sons Plc Group ('the Group') and describes a material uncertainty in respect of the going concern status of the Group due to the Group's reliance on successful mitigations under the combined severe but plausible scenario and the ability to refinance prior to March 2025 to continue as a going concern. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, 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.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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 101

Reporting scope

Standalone (parent only)

Auditor

Saffery LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to Note 1 in the financial statements, which sets out the Company's dependence on support from the James Fisher and Sons Plc Group ('the Group') and describes a material uncertainty in respect of the going concern status of the Group due to the Group's reliance on successful mitigations under the combined severe but plausible scenario and the ability to refinance prior to March 2025 to continue as a going concern. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, 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.”

Significant events

• “From the year-end to the finalisation of these accounts, the number of vessels under management has decreased by two as part of the group's ongoing fleet renewal programme which will result in a reduction in both revenue and cost of sales in 2025 but with no impact on profit. Orders have been placed for four newbuild vessels, with delivery scheduled throughout 2026. These development reflect the group's commitment to modernising its fleet while maintaining operational capacity No significant changes in the number of vessels under management are anticipated in the near term.”

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

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

2

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

  +41.4%

  £8,737,246 → £12,356,212

• Cash

  —

  Not reported

• Net assets

  -44.9%

  -£1,724,964 → -£2,500,137

• Employees

  -2.3%

  88 → 86

• Operating profit

  -3.1%

  -£304,209 → -£313,695

• Profit before tax

  -23%

  -£622,455 → -£765,638

• Wages

  +7.1%

  £4,580,608 → £4,907,006

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers