SORTED GROUP HOLDINGS PLC

1. SORTED GROUP HOLDINGS PLC 2024-02-16 → present
2. LOCATION SCIENCES GROUP PLC 2018-03-21 → 2024-02-16
3. PROXAMA PLC 2013-08-22 → 2018-03-21
4. LONGSHIPS PLC 2007-12-20 → 2013-08-22

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

IFRS

Reporting scope

Consolidated group

Auditor

Rawlinson & Hunter Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Based on the current status, after making enquiries and considering the existing cash resources of the business and the further cost reductions made during 2024, plus the Sorted Holdings Limited acquisition, the £2m fundraise and the loan facilities with Bidco 3 Limited, further details of which are set out in note 27, the Board has a reasonable expectation that the Group will be able to execute its plans in the medium term such that the Group will have adequate resources to continue in operational existence for the foreseeable future. This provides the Board with assurance on the Group's ability to continue as a going concern and therefore adopt the going concern basis of accounting in preparing the annual financial statements.”

Group structure

1. SORTED GROUP HOLDINGS PLC · parent
   1. Sorted Holdings Limited 100% · Holding Company
   2. Location Sciences AI Limited 100% · Dormant
   3. Sorted EBT Limited 100% · dormant
   4. Clicksit App Limited 100% · Returns business (disposed)
   5. Sorted Group Limited 100% · shipping services
   6. Sorted LLC 100% · dormant

Significant events

• “On 30 January 2024 we announced and published an AIM admission document which detailed, inter alia, the proposed acquisition of Sorted Holdings Limited ("SHL") and its subsidiary undertakings... for an aggregate nominal consideration of approximately £66.73 to be paid in cash at completion (the "Proposed Acquisition").”
• “On 16 February 2024, all resolutions were duly passed at a general meeting of the Company. The proposals set out in the AIM admission document completed on 19 February 2024 with the enlarged group successfully admitting to AIM on the same day ("Admission").”
• “On 30 April 2024, the Company announced that SGL had received approximately £2.0 million in research and development ("R&D") tax credits from His Majesty's Revenue & Customs ("HMRC").”
• “On 28 May 2024, it was announced that Carmen Carey stepped down as Chief Executive Officer ("CEO") and Executive Director of the Group with immediate effect and continued to support Sorted during a three month notice period, leaving 27 August 2024.”
• “On 30 September 2024 the Group announced that it had received approximately £1.1 million in cash as a result of a successful R&D Tax Credit Claim.”
• “On 4 October 2024, the Company announced the disposal to ZigZag Global Limited of the business and intellectual property...used to operate and deliver the Group's "Returns" business... The consideration received by Sorted for the Disposal was £775,000 in cash.”
• “On 21 November 2024, the Company announced the appointment of Rawlinson & Hunter Audit LLP as its new external auditor for the financial year ended 31 December 2024.”
• “On 6 December 2024, the Company announced the implementation of new share incentive awards ("New Awards") under the existing Sorted Group Holdings Plc Share Option Plan to retain and incentivise key management personnel.”
• “Employee Headcount Reduction: The headcount was reduced from 90 to 55, eliminating an expensive corporate layer that was no longer required for the business.”
• “Cost Reduction: We have reduced back-office costs related to legal, HR, and finance functions... anticipated to lead to a total people cost reduction of approximately £1.2 million on an annualised basis.”
• “Property Costs: We have reorganised our offices, closed the London office and resized the Manchester office to be more fit for purpose. This is expected to deliver an annualised six-figure saving.”

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.