EUROSAIL 2006-3NC PLC

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.1.1 in the financial statements, which indicates that a call option exists over the loan notes issued by the Company which may be exercised at the sole discretion of the mortgage administrator... This threshold was met in December 2023, and therefore, although it has not been exercised as at the date of approval of these financial statements, the call option could be exercised within the assessed going concern period to 30 April 2027. The exercise of the call option would result in the effective cessation of the Company's trade by the orderly settlement of any remaining assets and liabilities and ultimately the dissolution of the Company.

1. EUROSAIL 2006-3NC PLC 2006-10-12 → present
2. EUROSAIL 2006-3BL PLC 2006-09-25 → 2006-10-12
3. TREEGLEN PLC 2006-09-05 → 2006-09-25

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

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.1.1 in the financial statements, which indicates that a call option exists over the loan notes issued by the Company which may be exercised at the sole discretion of the mortgage administrator... This threshold was met in December 2023, and therefore, although it has not been exercised as at the date of approval of these financial statements, the call option could be exercised within the assessed going concern period to 30 April 2027. The exercise of the call option would result in the effective cessation of the Company's trade by the orderly settlement of any remaining assets and liabilities and ultimately the dissolution of the Company.”

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

Filings

2

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

  —

  Not reported

• Cash

  +8.5%

  £5,743,000 → £6,234,000

• Net assets

  +3.6%

  £110,000 → £114,000

• Employees

  —

  Not reported

• Operating profit

  +112.3%

  -£617,000 → £76,000

• Profit before tax

  -28.6%

  £7,000 → £5,000

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