SOVRIN PLASTICS LIMITED

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

• ◆

  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 102

Reporting scope

Consolidated group

Auditor

Xeinadin Audit Limited

Audit opinion

Qualified

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. 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 group's and parent 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. SOVRIN PLASTICS LIMITED · parent
   1. Sovrin Plastic Investments Trading Limited 100% · England

Significant events

• “The underlying core, businesses continue to generate ongoing profits, with the prospects significantly enhanced as a result of the investments made on moving to the new factory and new plant and machinery and from enhanced and expanded marketing and promotional activities.”
• “The directors feel that the group is now well placed to exploit market opportunities as they arise or are created, and thereby improve revenue and, hence, profitability, going forward.”

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

Filings

5

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

  +2.3%

  £11,123,697 → £11,376,182

• Cash

  +45.9%

  £2,135,191 → £3,114,775

• Net assets

  -0.1%

  £12,578,221 → £12,568,847

• Employees

  -4.2%

  96 → 92

• Operating profit

  -111.1%

  £684,770 → -£75,791

• Profit before tax

  -80.1%

  £748,245 → £149,259

• Wages

  -3.5%

  £3,620,235 → £3,494,284

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