COSTCUTTER SUPERMARKETS GROUP LIMITED

1. COSTCUTTER SUPERMARKETS GROUP LIMITED 1993-05-25 → present
2. COSTCUTTER SUPERMARKETS LTD 1992-02-03 → 1993-05-25
3. COSTCUTTER (SUPERMARKETS) LIMITED 1986-09-30 → 1992-02-03

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

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company meets its day-to-day working capital requirement through the invoice discounting facility agreement of £25 million. The current economic conditions continue to create uncertainty particularly over the level of demand for the Company's products and the availability of bank finance in the foreseeable future. The Company's forecasts and projections show that it should be able to operate with the level of its current financial resources available. This assessment has been made after considering a range of forecast sensitivities due to potential changes in trading performance including the impact of conflict in Ukraine, Middle East and other international tensions as well as energy price increases. The directors consider that there is no realistic change in assumptions that would give rise to a going concern issue. After making enquiries and considering downside scenarios, the directors are confident that the Company has access to sufficient financial resources to meet its liabilities as they fall due and continue in operational existence for the foreseeable future. The Company is one of the guarantors of a revolving credit facilities agreement together with its fellow subsidiaries. The Directors have considered compliance with covenants within the revolving credit facilities and those within the property loan agreements under another group company. These agreements can potentially impact the Company through cross default terms. They are satisfied that no events of default have occurred or will occur in the foreseeable future. The Directors have considered the Company's exposure to rising interest rates and are satisfied there is not significant impact on any of the loan covenants. The Company's indirect exposure through its fellow subsidiary's property loan agreements and revolving credit facilities are low as the interest rate on these loans is capped and the average overdraft balance taken by its fellow subsidiaries are low. The Company is not dependant on the support of its immediate parent. The Company therefore continues to adopt the going concern basis in preparing its financial statements.”

Group structure

1. COSTCUTTER SUPERMARKETS GROUP LIMITED · parent
   1. Ebor Foodmarkets Limited 100% · United Kingdom · Retail

Significant events

• “During the year, the Company together with the other companies in Bestway Wholesale Holdings Limited group entered into a new rolling credit facility agreement. The liabilities of Bestway Wholesale Limited and Bestway Northern Limited are cross guranteed by the Company and the other guarantors.”
• “The reduction in headline sales is primarily driven by double digit decline for Tobacco lines.”

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

  -6%

  £449,501,000 → £422,748,000

• Cash

  +59.5%

  £9,539,000 → £15,215,000

• Net assets

  +326.1%

  £2,815,000 → £11,995,000

• Employees

  -5.7%

  159 → 150

• Operating profit

  -3.2%

  £13,857,000 → £13,414,000

• Profit before tax

  -0.9%

  £13,031,000 → £12,912,000

• Wages

  -6.9%

  £6,829,000 → £6,360,000

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