GENERATION PHOENIX LIMITED

• ⚠

  Material uncertainty over going concern

  The Directors are in discussions with new and existing debt providers and equity investors and are very confident that additional funding will be secured. However, as the funding round is not yet committed, there is a material uncertainty related to events or conditions that may cast significant doubt on the parent and group's ability to continue as a going concern.

1. GENERATION PHOENIX LIMITED 2023-03-28 → present
2. E - LEATHER LIMITED 2006-01-27 → 2023-03-28
3. B & H RESEARCH LIMITED 1995-04-19 → 2006-01-27
4. ACRAMAN (113) LIMITED 1995-01-31 → 1995-04-19

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

Consolidated group

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Directors are in discussions with new and existing debt providers and equity investors and are very confident that additional funding will be secured. However, as the funding round is not yet committed, there is a material uncertainty related to events or conditions that may cast significant doubt on the parent and group's ability to continue as a going concern.”

Group structure

1. GENERATION PHOENIX LIMITED · parent
   1. Generation Phoenix Inc. 100% · USA · Distributor of high performance material

Significant events

• “Revenue from our core markets of Aviation, Rail and Bus dropped by £5.1m. The decrease was caused partly by large customers accelerating refurbishment programmes in the previous financial year, together with a slow down in the supply of aircraft to our airline customers from both Boeing and Airbus.”
• “Working in close partnership with leading brands, Gen Phoenix made great strides in developing class leading materials to meet the demanding technical requirements in the footwear and luxury leather goods markets and that these materials generated revenue of £0.5m during the year-ended April 2025 with an encouraging future pipeline.”
• “The loss after tax for the year end 30 April 2025 was £15,246,108.”
• “Gross margin declined by 6% primarily due to lower volumes.”
• “On 7th March 2023 as part of the debt and equity restructure £4,653,130 of the loans were converted into 5,066,666 Series A shares. Following the conversion and the waiver the company owed £8,500,000, equally between Ampleforth Investments and Bootstrap with interest accruing at 10% per annum.”
• “On 3rd July 2025 the company raised £15,000,000 by issuing 15,403,672 Series B Shares to existing investors. As part of the investment an existing investor converted a £5,000,000 convertible loan note that was accruing interest at 10% that had been issued on 6th May 2025.”

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

Filings

11

last 12 months

Capital events

7

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

  -20.1%

  £26,553,775 → £21,219,745

• Cash

  -85.2%

  £11,625,676 → £1,725,804

• Net assets

  -43.3%

  £34,511,920 → £19,555,625

• Employees

  +10.9%

  137 → 152

• Operating profit

  -44.4%

  -£9,973,753 → -£14,406,726

• Profit before tax

  -44.8%

  -£10,410,350 → -£15,079,030

• Wages

  +18.8%

  £6,819,834 → £8,105,186

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