EASAT RADAR SYSTEMS LTD

1. EASAT RADAR SYSTEMS LTD 2016-05-03 → present
2. EASAT ANTENNAS LTD. 1987-07-01 → 2016-05-03
3. COSMOSPARK LIMITED 1986-08-07 → 1987-07-01

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

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have prepared cash flow forecasts for a period of twelve months from the date of approval of these financial statements which indicate that, taking account of reasonably possible downsides, the Company will have sufficient funds, through funding from its ultimate parent company, Goodwin PLC, to meet its liabilities as they fall due for that period.”

Group structure

1. EASAT RADAR SYSTEMS LTD · parent
   1. Easat Finland Oy 100% · Finland · engineering for radar systems

Significant events

• “Easat, after seven years, this year achieved a pre-tax profit of £170,000, but this was considerably less than planned. The pre-tax profit figure of £170,000 does not include the pre-tax profit of the Company's 100% owned subsidiary, Easat Finland Oy, that made pre-tax profit of £725,000 (this figure has not been audited) in the same period. This effectively resulted in a combined pre-tax profit for the two companies of £895,000.”
• “NATO, encouraged by Donald Trump has now agreed that it is no longer appropriate for NATO member countries to spend less than 3.5% of GDP. As a result, VTS projects in countries geographically close to Russia are anticipated to be awarded within the next six months, with Easat currently holding live bids pending order confirmation.”
• “Since the start of the Ukraine conflict, warfare has evolved with new technology where very small sea drones and very small air drones have been used with devastating effect for little capital cost. Suddenly, countries around the world have realised they need to be able to see these very small targets and Easat's VTS radar systems are uniquely well placed to do this at long distance, and end users are having to re-evaluate their purchasing criteria.”
• “Around the world, there are many ASR systems that are approaching their end of design life and our competitors are charging the end users very high prices to keep the systems running and this is forcing airports to consider alternative suppliers. Easat is also focusing on business in the Pacific Basin and the African Continent, where these economies are rapidly developing and the end user is seeking value for money.”

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

1

last 24 months

Officers appointed

2

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

  +248.9%

  £4,846,766 → £16,909,347

• Cash

  +1,963.1%

  £900 → £18,568

• Net assets

  +18.3%

  £2,090,354 → £2,472,183

• Employees

  0%

  42 → 42

• Operating profit

  +105%

  -£827,077 → £41,612

• Profit before tax

  +122.8%

  -£746,987 → £170,471

• Wages

  +9.1%

  £1,907,891 → £2,080,739

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