SOLOMON & COMPANY (ST HELENA) PLC

1. SOLOMON & COMPANY (ST HELENA) PLC 2016-10-10 → present
2. SOLOMON AND COMPANY ST HELENA PLC 1951-06-07 → 2016-10-10

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

Consolidated group

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors have formed a judgement that there is a reasonable expectation that the Company has sufficient resources to continue in existence for the foreseeable future and do not believe there is a material uncertainty that may cast doubt on the Company's ability to continue as a going concern and therefore consider that the adoption of the going concern basis in preparing the financial statements is appropriate.”

Group structure

1. SOLOMON & COMPANY (ST HELENA) PLC · parent
   1. Guardrisk International Limited PCC St Helena Insurance Cell Captive 100% · Mauritius
   2. Guardrisk Insurance Company Mauritius Ltd PCC St Helena Insurance Cell Captive 100% · Mauritius

Significant events

• “in the fourth quarter of 2024 the inflation rate topped 8% for the first time since 2009.”
• “recent 12.5% increase in the Minimum Wage, driving up employer wage costs from July 2025.”
• “Some progress has been made since November 2024 to address headcount, pricing and inventory management concerns.”
• “A significant challenge will be to make an effective response to the change in cargo operations following the commissioning of the new port at Ruperts Bay late in 2025.”
• “Closure of the dormant Cell Captive in Guardrisk International Ltd PCC, thus remaining with the Cell Captive in Guardrisk Insurance Company Mauritius PCC, is an administrative decision which will help to curtail cost.”
• “A decision was taken in November 2024 to suspend the Capital Expenditure Programme due to insufficient working capital funds.”
• “During the year, a £500,000 loan for asset replacement was received in April 2024.”
• “Minimum Wage adjustments running at 12.5% and consumer price inflation of 6.5% for 2024/25 will impact payroll costs and inevitably result in defensive price adjustments to goods and services offered by the Company.”
• “The benefits of the fibre optic cable have not yet met expectations. The intermittent service presents a challenge for some users, and this also adversely affects the Company.”
• “There is no doubt that the MACS shipping service has stabilised inventory procurement patterns, accompanied by the potential to improve financial metrics.”
• “The island's remoteness leads to high transportation costs and limited access to global markets, affecting supply chains and business scalability.”
• “St Helena's economy relies heavily on UK aid and government spending.”
• “With a small population, businesses face constrained demand, making it difficult to achieve economies of scale or diversify revenue streams.”
• “The airport has improved access, disruptions in air and sea transport due to weather or mechanical issues can delay goods and services, affecting operations.”
• “A limited labor pool and skill shortages can hinder business growth and innovation, especially in specialized sectors.”
• “changes in local governance, taxation, or trade policies can have outsized effects on business operations.”
• “The Company is exposed to foreign currency risk due to agency and supplier relationships in South Africa denominated in South African Rand.”
• “The closure and redemption of 100% of the shares in GIL occurred on 25th May 2025.”
• “The proceeds of the final dividend and share capital redeemed, amounting to £319,975, was reinvested in GICM.”
• “There are no other significant post balance sheet events.”
• “On the 1st of August 2024, Crown Agents Limited was placed into liquidation. On the 1st of July, Great Peter Nominees Limited was dissolved by Companies House UK. St Helena Government is engaged in an administrative process to to clarify its beneficial ownership of GPN and by extension the shareholding in Solomons.”

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

Filings

4

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.

• Turnover

  +5.3%

  £13,258,929 → £13,963,111

• Cash

  +25.6%

  £2,718,358 → £3,414,587

• Net assets

  -3.1%

  £8,358,624 → £8,101,723

• Employees

  -11.9%

  260 → 229

• Operating profit

  +55.6%

  -£335,488 → -£148,889

• Profit before tax

  +43.7%

  -£340,902 → -£191,820

• Wages

  +0.6%

  £3,029,972 → £3,046,929

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