GREENKOTE LIMITED

• ⚠

  Material uncertainty over going concern

  The combination of the potential future impact of the adverse economic and political events present material uncertainty to the future going concern. The directors have reasonable expectation that with success of the actions initiated and projections of growing customer orders the Group can continue in existence for the twelve months from approval of these financial statements and therefore continue to present the financial statements on a going concern basis. A material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern.

1. GREENKOTE LIMITED 2025-10-27 → present
2. GREENKOTE PLC 2005-04-20 → 2025-10-27
3. GREENKOTE LIMITED 2005-02-14 → 2005-04-20

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

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The combination of the potential future impact of the adverse economic and political events present material uncertainty to the future going concern. The directors have reasonable expectation that with success of the actions initiated and projections of growing customer orders the Group can continue in existence for the twelve months from approval of these financial statements and therefore continue to present the financial statements on a going concern basis. A material uncertainty exists that may cast significant doubt on the Group's ability to continue as a going concern.”

Group structure

1. GREENKOTE LIMITED · parent
   1. Greenkote (Israel) Ltd. 100% · Israel · Research and development of diffusion coating technology for metals parts and production of diffusion coatings
   2. Greenkote NA Holdings, Inc. 100% · United States · Holding company for multiple industrial coating companies in North America
   3. Greenkote USA, Inc. 100% · United States · Greenkote US coating services facility and Group headquarters
   4. Greenkote IPC Mexico, Inc. 100% · United States · Holding company for Mexican company
   5. Industrial Powder Coatings de Mexico S.A. de C.V. 100% · Mexico · Mexican coating services

Significant events

• “Overall, Greenkote generated a decent 17% increase in turnover to £11.1 million compared to 2023. The Group generated a loss before tax of £28k for the year against £202k loss in 2023. Taxes from our Mexican operations produced a net loss after tax of £299k in 2024 against a net loss of £332k in 2023.”
• “Greenkote Technology coating service revenue in Ohio decreased by 8% over 2023... A key driver of this slowdown was the decision by GM (General Motors) to replace a metal drive shaft seal with plastic - suddenly ending our largest project.”
• “Our traditional coating operation in Mexico experienced an increase in sales of 20% over 2023.”
• “Additional working capital support was achieved through receivables factoring agreements for our billings in Mexico. This credit facility proved critical to navigating the 2024 market conditions.”

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

Filings

10

last 12 months

Capital events

1

last 24 months

Officers appointed

1

last 12 months

Officers resigned

2

last 12 months

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

• Turnover

  +16.8%

  £9,541,788 → £11,143,038

• Cash

  +18.4%

  £196,334 → £232,503

• Net assets

  +116.7%

  £74,253 → £160,938

• Employees

  -1%

  192 → 190

• Operating profit

  +550.9%

  -£49,836 → £224,732

• Profit before tax

  +85.9%

  -£202,276 → -£28,455

• Wages

  +5.5%

  £2,378,213 → £2,508,404

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