SRT MARINE SYSTEM SOLUTIONS LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 1 in the financial statements. Whilst the directors have prepared cash flow projections to support the adoption of the going concern basis, they acknowledge that during the current rapid growth phase there is uncertainty due to there being the possibility of a mismatch between customer receipt and supplier payments which could require bridging finance. Furthermore, there are loan notes repayments in the Group which fall due within the next 12 months. We acknowledge that the Group has an extensive track record of securing such facilities and the Group has a secured loan note programme with sufficient capacity, however, there is no guarantee of such financing.

1. SRT MARINE SYSTEM SOLUTIONS LIMITED 2013-10-17 → present
2. GEOVS LIMITED 2010-07-14 → 2013-10-17
3. GEOVISUALIZATION SYSTEMS LIMITED 2009-02-16 → 2010-07-14

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 101

Reporting scope

Standalone (parent only)

Auditor

S&W Audit

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 1 in the financial statements. Whilst the directors have prepared cash flow projections to support the adoption of the going concern basis, they acknowledge that during the current rapid growth phase there is uncertainty due to there being the possibility of a mismatch between customer receipt and supplier payments which could require bridging finance. Furthermore, there are loan notes repayments in the Group which fall due within the next 12 months. We acknowledge that the Group has an extensive track record of securing such facilities and the Group has a secured loan note programme with sufficient capacity, however, there is no guarantee of such financing.”

Significant events

• “In February 2025, the group signed a contract worth $261m with a new sovereign customer to deliver a national maritime surveillance system. This project is subject to the completion of a UK Export Finance supported project finance package which is not guaranteed.”

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

2

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.