BRITISH MARINE FEDERATION

• ⚠

  Material uncertainty over going concern

  The group has made a loss after tax for the year of £359,025 (18 month period ended 31st December 2023: profit of £124,845), and has net assets as at 31st December 2024 of £497,505 (31st December 2023: £856,530). The directors have concluded that there are sufficient cash resources for the group to continue in operation and to meet the working capital requirements for the group and company for a period of not less than 12 months from the date of approval of these financial statements provided that the overdraft facility is not required to be repaid at the current end date of 30th September 2025. The directors expect that the bank will renew the overdraft facility at the current levels. Management continue to focus on reducing the reliance on the overdraft and rebuilding their cash reserves. As a result, the directors consider the company will be able to meet their liabilities as they fall due for a period of at least 12 months from the date of signing of the financial statements and therefore it is appropriate to prepare the financial statements on a going concern basis. The group forecasts assume that the overdraft facility (which is currently secured on group assets) will be renewed in September 2025. Management are in regular communication with their bank and do not expect any difficulties with the overdraft renewal process, however at the point of signing the financial statements do not have confirmation that the overdraft will be renewed and maintained at current levels. While the group forecasts indicate that the group should be able to continue to trade for at least 12 months from the date of these financial statements, should the overdraft not be renewed, or renewed at a significantly reduced level, then the group and company would need to seek alternative financing. The uncertainty surrounding the overdraft renewal gives rise to conditions that indicate a material uncertainty exists that may cast significant doubt on the group and company's ability to continue as a going concern.

1. BRITISH MARINE FEDERATION 2002-01-07 → present
2. BRITISH MARINE INDUSTRIES FEDERATION 1991-03-18 → 2002-01-07

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

Consolidated group

Auditor

Langdowns DFK Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The group has made a loss after tax for the year of £359,025 (18 month period ended 31st December 2023: profit of £124,845), and has net assets as at 31st December 2024 of £497,505 (31st December 2023: £856,530). The directors have concluded that there are sufficient cash resources for the group to continue in operation and to meet the working capital requirements for the group and company for a period of not less than 12 months from the date of approval of these financial statements provided that the overdraft facility is not required to be repaid at the current end date of 30th September 2025. The directors expect that the bank will renew the overdraft facility at the current levels. Management continue to focus on reducing the reliance on the overdraft and rebuilding their cash reserves. As a result, the directors consider the company will be able to meet their liabilities as they fall due for a period of at least 12 months from the date of signing of the financial statements and therefore it is appropriate to prepare the financial statements on a going concern basis. The group forecasts assume that the overdraft facility (which is currently secured on group assets) will be renewed in September 2025. Management are in regular communication with their bank and do not expect any difficulties with the overdraft renewal process, however at the point of signing the financial statements do not have confirmation that the overdraft will be renewed and maintained at current levels. While the group forecasts indicate that the group should be able to continue to trade for at least 12 months from the date of these financial statements, should the overdraft not be renewed, or renewed at a significantly reduced level, then the group and company would need to seek alternative financing. The uncertainty surrounding the overdraft renewal gives rise to conditions that indicate a material uncertainty exists that may cast significant doubt on the group and company's ability to continue as a going concern.”

Group structure

1. BRITISH MARINE FEDERATION · parent
   1. BMF Property Limited 100% · United Kingdom · Property ownership
   2. National Boat Shows Limited 100% · United Kingdom · Non trading
   3. Southampton International Boat Show Limited 100% · United Kingdom · Boat show organisers

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

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.