CELLI ASSET MANAGEMENT (UK) LIMITED

• ⚠

  Annual accounts overdue

  Due 2026-03-19.

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.3 in the financial statements, which indicates that Company incurred a net loss of £3.5m during the year ended 31 December 2023 and, as of that date, the company's current liabilities exceeded its total assets by £6m. As stated in note 2.3, these events or conditions, along with other matters as set forth in note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

• ◆

  Audit opinion: Qualified

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

1. CELLI ASSET MANAGEMENT (UK) LIMITED 2020-12-23 → present
2. T & J INSTALLATIONS LTD 1997-01-24 → 2020-12-23

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

Material uncertainty disclosed

“We draw attention to note 2.3 in the financial statements, which indicates that Company incurred a net loss of £3.5m during the year ended 31 December 2023 and, as of that date, the company's current liabilities exceeded its total assets by £6m. As stated in note 2.3, these events or conditions, along with other matters as set forth in note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Significant events

• “The appointment of a new Celli Group Board of Directors in the summer of 2023 marked a significant shift in the company's leadership and management structure. A team of highly qualified professionals was selected to conduct a comprehensive review of the group's operations.”
• “In November 2023, Celli Group developed a comprehensive business plan aimed at addressing key issues identified throughout the year. This plan was designed to safeguard business continuity and maintain employment levels.”

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

Filings

3

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

  -53.8%

  £32,346,764 → £14,944,552

  lowest in 3 filed years

• Cash

  +130.6%

  £83,655 → £192,874

• Net assets

  -98.4%

  -£3,515,868 → -£6,976,302

  lowest in 5 filed years

• Employees

  -15.8%

  190 → 160

• Operating profit

  -6.2%

  -£3,190,947 → -£3,389,839

  lowest in 3 filed years

• Profit before tax

  -9.8%

  -£3,234,110 → -£3,551,306

  lowest in 3 filed years

• Wages

  -15.2%

  £6,844,334 → £5,802,319

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