LINEAR COMPOSITES LIMITED

• ⚠

  Confirmation statement overdue

  Due 2026-05-10.

• ⚠

  Material uncertainty over going concern

  The directors have made the decision to cease trading at the end of 2025. The production and sale of products related to the company's third party customers will be transferred to a new group joint venture company, Prime Synthetic Solutions Ltd. The manufacture of products that the company supplies to other group companies will be transferred to a group company located in Europe. Therefore, the financial statements have been prepared on a basis other than going concern. No adjustments were considered necessary to write down the company's assets to their net realisable value as a result of preparing the financial statements under this basis. Provisions have been made in respect of contractual and constructive obligations that existed at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

• ◆

  Audit opinion: Qualified

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

1. LINEAR COMPOSITES LIMITED 1989-07-03 → present
2. WISEMARR LIMITED 1989-05-08 → 1989-07-03

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 102

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Shaw Gibbs (Audit) Limited

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“The directors have made the decision to cease trading at the end of 2025. The production and sale of products related to the company's third party customers will be transferred to a new group joint venture company, Prime Synthetic Solutions Ltd. The manufacture of products that the company supplies to other group companies will be transferred to a group company located in Europe. Therefore, the financial statements have been prepared on a basis other than going concern. No adjustments were considered necessary to write down the company's assets to their net realisable value as a result of preparing the financial statements under this basis. Provisions have been made in respect of contractual and constructive obligations that existed at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.”

Significant events

• “The directors have made the decision to cease trading at the end of 2025.”
• “On 19 December 2024, the company entered into a security agreement over its shares in favour of Glas Loan Administrators S.L (the security agent) in respect of group borrowings.”

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

  -7.3%

  £10,681,591 → £9,906,025

• Cash

  -40.6%

  £1,758,892 → £1,044,015

  lowest in 4 filed years

• Net assets

  -51.5%

  £5,944,519 → £2,884,939

  lowest in 4 filed years

• Employees

  -14.6%

  41 → 35

  lowest in 4 filed years

• Operating profit

  -57.5%

  £2,519,529 → £1,070,467

  lowest in 4 filed years

• Profit before tax

  -57.5%

  £2,546,688 → £1,083,072

  lowest in 4 filed years

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