MICHAEL ABAKHAN 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

Consolidated group

Auditor

Edwards, Rowley & Co

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the directors' assessment of the entity's ability to continue to adopt the going concern basis of accounting included reviewing and assessing the validity of budgets and projections for future trading, discussions with directors and an assessment of the strength of the balnce sheet especially in relation to bank balances. 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.”

Group structure

1. MICHAEL ABAKHAN LIMITED · parent
   1. Abakhan Fabrics Eesti Limited 66.73% · Estonia · Retailing
   2. Gildi House OU 100% · Estonia · Property Rental
   3. TXN Limited 100% · UK · Retailing

Significant events

• “During the year the company completed the acquisition of TXN Limited, a competitor in the sector, and undertook a restructure of its online operations to align cost base and capability with current trading conditions, this was ongoing at the year, and was due for completion within the next 12 months.”
• “Borrowings have decreased by £250,878 during the year, partly due to overpaying existing loans.”
• “The Group's cash position has decreased by £283,999 during the year.”
• “These movements have contributed to a decrease in Net Assets of £297,049.”

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.

• Turnover

  +14.5%

  £15,081,004 → £17,264,136

• Cash

  -18.1%

  £1,568,662 → £1,284,664

• Net assets

  -2.6%

  £11,557,158 → £11,260,110

• Employees

  -14.8%

  337 → 287

• Operating profit

  -213.5%

  £240,414 → -£272,903

• Profit before tax

  -148.6%

  £412,819 → -£200,821

• Wages

  +0.1%

  £4,138,395 → £4,143,760

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