OVARRO LD LTD

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. OVARRO LD LTD 2020-03-10 → present
2. PRIMAYER LIMITED 1994-08-16 → 2020-03-10

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

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company continues to meet its day to day working capital requirements through cash reserves and strict inventory and ledger book control. The Company produces a detailed forecast and budget looking 12 months ahead and also performs long range financial planning through a 5 year strategic financial plan. Neither of which have raised concerns around the liquidity or going concern status of the Company. Therefore, as at the date of this report, the Directors have a reasonable expectation that the Company has adequate resources to continue in business for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”

Group structure

1. OVARRO LD LTD · parent
   1. Ovarro S.A.S 100% · France · Water monitoring systems
   2. Ovarro Sdn. Bhd. 100% · Malaysia · Water monitoring systems

Significant events

• “The ongoing dynamic between UK Water utilities and the regulator Ofwat has caused some disruption in the later part of the year, but with plans now being approved by the regulator and record investment by utilities being confirmed, the Company is very well placed and optimistic about the future.”
• “The Company's strategy is to develop and grow its core trading business, investing in new product development to maintain the Company's market leading position in leak detection.”
• “UK businesses are currently facing many uncertainties such as the consequences of Brexit, environmental sustainability and geopolitical events such as the Russian invasion of Ukraine and the conflict in the Middle East. These uncertainties have contributed to an environment where there exists a range of issues and risks, including inflation, rising interest rates, labour shortages, disrupted supply chains and new ways of working.”
• “The restructuring costs relate to the ongoing restructuring and strategic initiatives implemented to reorganise the Group and the sale of Ovarro in 2024.”
• “Subsequent to the year end date, the Company received correspondence from a customer of a dispute pertaining to products and services provided by the Company during the financial year ending 31 December 2024. Whilst no legal claim has been made against the Company, management together with its legal advisers continue to engage in mediation with the counterparty to reach a suitable resolution.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +9.9%

  £11,263,000 → £12,382,000

• Cash

  -22%

  £869,000 → £678,000

• Net assets

  -18.6%

  £6,041,000 → £4,915,000

• Employees

  -3.8%

  52 → 50

• Operating profit

  -50.5%

  -£1,006,000 → -£1,514,000

• Profit before tax

  -50.4%

  -£1,006,000 → -£1,513,000

• Wages

  -7.6%

  £1,819,000 → £1,680,000

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