FROZEN VALUE LIMITED

• ⚠

  Material uncertainty over going concern

  A decision was made in 2023 to cease all of the retail operations operating under the Fulton's brand and transfer all net assets into Poundland. This decision was taken as part of the operational strategy of Poundland Limited to aggregate available synergies and efficiencies of the two businesses and the transfer will take place during the financial year 2026. As a result of this decision the financial statements have been prepared on a basis other than going concern (See Note 1 for further information).

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

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“A decision was made in 2023 to cease all of the retail operations operating under the Fulton's brand and transfer all net assets into Poundland. This decision was taken as part of the operational strategy of Poundland Limited to aggregate available synergies and efficiencies of the two businesses and the transfer will take place during the financial year 2026. As a result of this decision the financial statements have been prepared on a basis other than going concern (See Note 1 for further information).”

Group structure

1. FROZEN VALUE LIMITED · parent
   1. Jack Fulton Limited 100% · England and Wales · Dormant

Significant events

• “A decision was made in 2023 to cease all of the retail operations operating under the Fulton's brand and transfer all net assets into Poundland. This decision was taken as part of the operational strategy of Poundland Limited to aggregate available synergies and efficiencies of the two businesses and the transfer will take place during the financial year 2026. Following the transfer, the company will be liquidated.”

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

Filings

10

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

  -100%

  £40,408,000 → £0

• Cash

  -69.6%

  £79,000 → £24,000

• Net assets

  -80.6%

  £3,098,000 → £602,000

• Employees

  -66.7%

  6 → 2

• Operating profit

  -160%

  £1,694,000 → -£1,016,000

• Profit before tax

  -272.6%

  £1,027,000 → -£1,773,000

• Wages

  -100%

  £52,000 → £0

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