LOGCREST LIMITED

1. LOGCREST LIMITED 1998-06-19 → present
2. TRADESUP LIMITED 1987-06-12 → 1998-06-19

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

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“After a strong recovery in 2023, the company's primary focus in 2024 was on controlling the reduction in operating profit due to the significant increases in wages and other costs. Throughout the year, central banks globally began reducing interest rates from previously high levels not seen since the Global Financial Crisis. These reductions have moderated pending outlooks on future inflationary conditions. The Group's loan portfolio is largely protected from rising interest rates as the majority of the loans have fixed interest rates. Based on base case and sensitised forecasts and forecast performance against the terms of the company's immediate parent company's bank facilities, the directors have concluded that it remains appropriate to prepare these financial statements on a going concern basis. The Company is a member of the wider Prestmade Limited group, which effectively operates a group wide treasury function. As such, in considering going concern, management look to factors that impact both the Company and the wider Group. As noted in the principal risks and uncertainties section of the directors report, the company, and wider group, are impacted by wider economic conditions including potential recession; foreign currency fluctuations; supply chain inflation and delays; utility price inflation; human capital constraints; the ongoing impact of Brexit and the ongoing conflict in Ukraine, and changes to government regulations including legislation on employees (principally minimum wage and levies), environmental and health and safety. The Company's immediate parent company, and therefore the company, is dependent on the bank facilities available to that company that, at the year-end, amounted to £56.8m (2023 - £56.8m), and were subject to two principal financial covenants. £1.84m of these loans are due for repayment in 2025 and the remainder is due for repayment by November 2027, including a final bullet repayment of £49.9m. The directors have therefore concluded that is remains appropriate to continue to adopt the going concern basis of accounting in preparing the annual financial statements and have not identified a material uncertainty in this regard.”

Significant events

• “In the annual report and financial statements for the company for the year ended 31 December 2023, the directors disclosed the details of a third party legal claim, raised in August 2023, against the company's ultimate parent company, pertaining to an alleged unlawful acquisition of the shares of Tradesup Limited, the company's intermediate parent company. During the year, the parties have settled this claim without any impact on the ownership structure within Prestmade Limited group.”

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

  +0.6%

  £11,870,000 → £11,936,000

• Cash

  +22.9%

  £798,000 → £981,000

• Net assets

  +22.7%

  £7,470,000 → £9,163,000

• Employees

  +26.2%

  42 → 53

• Operating profit

  -5.8%

  £2,393,000 → £2,255,000

• Profit before tax

  -5.7%

  £2,393,000 → £2,257,000

• Wages

  +8.6%

  £1,532,000 → £1,664,000

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