FINE ORGANICS LIMITED

• ⚠

  Material uncertainty over going concern

  The Company made a loss before tax of £10,922K during the year, and had net current liabilities of £221,499K and net liabilities of £179,423K. At the year ended 31 December 2024 the company owed amount of £263,753K to group undertakings, which the group undertakings confirmed they seek no repayment until the Company has the ability to do so. Furthermore the ultimate parent company has confirmed that it will financially support the whole UK group for at least 18 months from the date of signing these financial statements. Based on this, the directors have concluded that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements. Although we consider that the statements that are made in note 2 are fair, it is our opinion that the note should also state that these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.

1. FINE ORGANICS LIMITED 1981-12-31 → present
2. TRACEBREW LIMITED 1980-12-03 → 1981-12-31

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 101

Reporting scope

Standalone (parent only)

Auditor

Shinewing Wilson Accountancy Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Company made a loss before tax of £10,922K during the year, and had net current liabilities of £221,499K and net liabilities of £179,423K. At the year ended 31 December 2024 the company owed amount of £263,753K to group undertakings, which the group undertakings confirmed they seek no repayment until the Company has the ability to do so. Furthermore the ultimate parent company has confirmed that it will financially support the whole UK group for at least 18 months from the date of signing these financial statements. Based on this, the directors have concluded that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements. Although we consider that the statements that are made in note 2 are fair, it is our opinion that the note should also state that these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.”

Significant events

• “During the year ended 31 December 2024 the business's revenue has risen by 40% to £93,611K (2023: £67,038K) following receipt of a significant new order and increased sales of another product. In addition, the Company recommenced its operations as a Limited Risk Distributor on behalf of the ultimate parent undertaking generating gross revenues of £6,255K (2023: £0K).”
• “The Company's loss before taxation for the financial year is £11,079K (2023: profit before taxation £54,753K).”
• “Revenues increased largely due to increased sales of existing products with new contracts or adjusted pricing. This includes manufacture in a portion of the assets made available following the termination of a major contract in 2023.”
• “While the Company incurred some legacy costs due to the termination of the contact in 2023, a redundancy program led to the reduction in headcount of 61 and associated costs, minimising the financial impact to the Company. The company also sold significant quantities of raw materials left over from the terminated contract at less than purchase cost, which has reduced inventory and improved the working capital position.”
• “The company has received a significant number of new enquiries for products that will start to deliver additional revenues from 2026 onwards.”
• “The financial position of the company as at the year-end is net liabilities of £179,580K (2023: £168,425K).”
• “Ukraine conflict: following the outbreak of the conflict in Ukraine the business has acknowledged price risks, particularly with regards to gas and electricity.”

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

  +39.6%

  £67,038,000 → £93,611,000

• Cash

  +153.8%

  £3,386,000 → £8,592,000

• Net assets

  -6.6%

  -£168,425,000 → -£179,580,000

• Employees

  -19.5%

  353 → 284

• Operating profit

  -137.5%

  £28,287,000 → -£10,596,000

• Profit before tax

  -120.2%

  £54,753,000 → -£11,079,000

• Wages

  -13.9%

  £13,235,000 → £11,389,000

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