ATLANTIC SERVICE COMPANY (U.K.) LIMITED

• ◆

  Audit opinion: Qualified

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

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

Deloitte LLP

Audit opinion

Qualified

Going concern

Affirmed

“At the date of approval of the financial statements, the directors have reviewed the cash flow forecast. The Company is forecasted to record a loss in 2025; however, the planned restructuring of the parent group aims to return the Company to recording profit levels seen before 2022. Forecasts for the next 5 years have been prepared and show a profitable position and generate positive operating cashflow. Based on their assessment of the Company's financial position, the Company's Directors have a reasonable expectation that the Company has adequate resources to continue undertaking the principal business activity outlined above for the foreseeable future, being at least 12 months from the date of approval of these financial statements, and that it has sufficient reserves during the period to meet liabilities as they fall due. The company has generated losses before tax of £355,779 in the current year and loss before tax of £375,148 in the prior year. The company has cash balances of £790,631 (2023: £526,732). The Company has net assets and is expected to continue to generate positive cash flows for the foreseeable future. It has a strong portfolio of geographically diverse customers and expects to grow steadily in the coming years, leveraging its recent investments. The Company participates in the Group's centralised treasury arrangements and has access to the banking arrangements of its parent and fellow subsidiaries if required further to support future investment and growth opportunities. A letter of support has been provided from the parent company confirming that they will continue to provide support to the Company to meet its obligations as they fall due and continue its operations as a going concern. Whilst trading conditions were subdued during the first half of 2024, stability has returned to demand in the second half, with some variability as some geographical regions continue to be impacted by inflationary pressures. This stability has continued into 2025 and is expected to continue going forward. The company will look for further opportunities in what it perceives to be underdeveloped markets, as well as invest in new technology around the production process, and is constantly working with a wide range of partners to improve the products and services it provides. As a result of the above, the Company continues to adopt the going concern basis for accounting for the preparation of the annual financial statements”

Group structure

1. ATLANTIC SERVICE COMPANY (U.K.) LIMITED · parent
   1. WHX CS LLC 35% · USA
   2. WF Asset Corp. 30% · USA

Significant events

• “A decision was made post year end by the parent company to relocate the Company's grinding manufacturing line to a sister site. This restructure is forecasted to result in significant savings for both the Company, and its parent company, which will return the Company to making a profit.”

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

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

3

last 12 months

Officers resigned

2

last 12 months

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

• Turnover

  -9.7%

  £9,612,535 → £8,679,800

• Cash

  +50.1%

  £526,732 → £790,631

  highest in 4 filed years

• Net assets

  -4.2%

  £7,165,926 → £6,864,360

• Employees

  -1.3%

  76 → 75

• Operating profit

  +20.7%

  -£319,166 → -£253,128

• Profit before tax

  +5.2%

  -£375,148 → -£355,779

• Wages

  -8.5%

  £2,678,630 → £2,452,133

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