BRITMET TILEFORM LIMITED

• ◆

  Audit opinion: Qualified

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

1. BRITMET TILEFORM LIMITED 1996-07-18 → present
2. BRITMET LIMITED 1995-03-01 → 1996-07-18

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

Azets Audit Services

Audit opinion

Qualified

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Significant events

• “The company performed well through the period with a small decrease in turnover but an improved profit margin and profit before tax. Investments in fixed assets were carried out through the parent company Britmet Holdings Limited.”
• “The future developments of the company include commencing the build of the new oven, extending the current warehouse to allow more room for storage, plant and machinery. The company plans to invest in staff training and development. There are also plans to develop new products including a solar tile, with a focus on product sustainability. In addition to this, the company looks to expand their sales into Europe, increasing their overall turnover and profit margin further.”
• “During attendance at the August 2022 stocktake, the auditors were unable to satisfy themselves that the company had the adequate systems and controls in place to confirm the inventory quantities held at 31 August 2022, included in the balance sheet at £2,271,491. Therefore the audit report has been qualified due to the possible effects on corresponding figures in the comparative period. This was due to the transition from an old stock system to a new one. A scanning system has now been implemented and subsequent stock takes that have been performed by the auditors have been confirmed accurate.”

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

Filings

9

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

  -26.5%

  £20,459,681 → £15,042,159

• Cash

  +139%

  £759,161 → £1,814,555

  highest in 5 filed years

• Net assets

  +42.9%

  £2,537,729 → £3,625,755

  highest in 5 filed years

• Employees

  -2.8%

  72 → 70

• Operating profit

  +146.2%

  £529,060 → £1,302,712

  highest in 3 filed years

• Profit before tax

  +152.1%

  £515,193 → £1,299,003

  highest in 4 filed years

• Wages

  -24.1%

  £3,195,297 → £2,426,618

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