EC FINANCE PLC

• ⚠

  Material uncertainty over going concern

  As disclosed in note 2 (b), the financial statements of the Company are prepared on the assumption that the Company will continue as a going concern predicated on the financial support from the ultimate parent company and the ongoing funding structure remaining in place. Based on our procedures above, we note that the loan notes are fundamental to the company's purpose, and should EMG choose to utilise other funding options, this company may cease to operate once the issued notes are repaid. Consequently, there is a material uncertainty arising as a result of the ongoing refinancing of the ultimate parent company. Until the refinancing is finalised, the intentions of the ultimate parent company as regards this company and its ability to provide appropriate support, remains unknown.

1. EC FINANCE PLC 2010-05-26 → present
2. WELGROVE PLC 2010-03-17 → 2010-05-26

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

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As disclosed in note 2 (b), the financial statements of the Company are prepared on the assumption that the Company will continue as a going concern predicated on the financial support from the ultimate parent company and the ongoing funding structure remaining in place. Based on our procedures above, we note that the loan notes are fundamental to the company's purpose, and should EMG choose to utilise other funding options, this company may cease to operate once the issued notes are repaid. Consequently, there is a material uncertainty arising as a result of the ongoing refinancing of the ultimate parent company. Until the refinancing is finalised, the intentions of the ultimate parent company as regards this company and its ability to provide appropriate support, remains unknown.”

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

  —

  Not reported

• Cash

  -32.2%

  £156,733 → £106,246

• Net assets

  +2.1%

  £68,269 → £69,673

• Employees

  —

  Not reported

• Operating profit

  0%

  £1,734 → £1,734

• Profit before tax

  0%

  £1,734 → £1,734

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