TRAGO MILLS (SOUTH DEVON) LIMITED

• ⚠

  Material uncertainty over going concern

  Based on this assessment, the directors have concluded that a material uncertainty exists which may cast significant doubt upon the Group's ability to continue as a going concern. This uncertainty arises from the Group's ongoing trading losses, the volatile economic and political environment over which the Directors have no control and the inherent risks associated with achieving the planned mitigating actions described above. If these uncertainties were to crystallise, the Group may be unable to realise its assets and discharge its liabilities in the normal course of business.

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

PKF Francis Clark

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Based on this assessment, the directors have concluded that a material uncertainty exists which may cast significant doubt upon the Group's ability to continue as a going concern. This uncertainty arises from the Group's ongoing trading losses, the volatile economic and political environment over which the Directors have no control and the inherent risks associated with achieving the planned mitigating actions described above. If these uncertainties were to crystallise, the Group may be unable to realise its assets and discharge its liabilities in the normal course of business.”

Significant events

• “The board took the step of changing the year end which has the effect of making direct comparison to previous years very difficult, but in summary sales remain broadly flat year-on-year. Since the period end, the April 2025 increases in both national living wage and employers national insurance represented a significant challenge. The board have addressed this... by rationalising the workforce along with the store opening hours.”
• “The Group has identified and commenced implementation of plans to dispose of non-core investment properties for which sales have been agreed and which are expected to realise £2.5m before the end of 2025; Actions are underway to streamline stock and reduce working capital requirements which have the potential to release £2m of additional cash; Sales initiatives, although uncertain in their outcome, provide potential for revenue improvement;”

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

1

last 12 months

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

• Turnover

  +13.2%

  £44,971,041 → £50,920,260

• Cash

  -80.6%

  £750,925 → £146,014

• Net assets

  -4.5%

  £43,474,861 → £41,517,884

• Employees

  +3.6%

  309 → 320

• Operating profit

  -173.6%

  -£827,904 → -£2,265,390

• Profit before tax

  -165.3%

  -£825,076 → -£2,188,977

• Wages

  +28.4%

  £5,306,501 → £6,814,945

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