LOADPOINT LIMITED

1. LOADPOINT LIMITED 2010-09-23 → present
2. PLUSMEAD LIMITED 2010-03-29 → 2010-09-23

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

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In their assessment of going concern, the Directors have prepared detailed forecasts incorporating stress-tested scenarios, including a worst-case analysis of prolonged market volatility and delayed profitability timelines. These projections demonstrate that operational cash flows combined with available support mechanisms can sustain operations for the period up to 30 April 2026. The Directors have considered the impact of the 2024 operational results, including losses incurred during the year due to reduced demand, customer order delays and considerable production delays, on cash flow. Financial support from our parent company through a Letter of Support (LoS) will remain available for the period up to 30 April 2026 if required to address short-term liquidity challenges, with access to up to £1 million in funding. While not constituting a legally binding guarantee, the Directors have received written confirmation that this facility will not be withdrawn during the forecast period up to 30 April 2026. The parent company has formally waived all repayment obligations until adequate alternative financing has been secured. Despite semiconductor market volatility, proactive measures ensure operational stability over the next 12 months. The Cricklade site will drive growth via two new twin spindle machines (semi- and fully automatic), leveraging our parent company’s supply chain for cost efficiency and UK-based manufacturing. High-margin dicing services and machine sales remain revenue priorities, supplemented by aftersales income. At Ferndown, a dedicated team will accelerate external customer acquisition and enhance product quality. Meanwhile, organizational restructuring and workforce optimization measures had been in place for two sites, which are projected to generate annualized cost savings of approximately £1 million for the next 12 months. Cost controls and temporary H1 2025 liquidity support from parent company will address cash flow pressures, specifically the total amount of £5.8 million owed to parent company and other group companies which is being deferred under mutual agreement until sustainable profitability is achieved. Having regard to the above measures and the parent company’s continued commitment, the Directors confirm that the use of the going concern basis in preparing these financial statements remains appropriate.”

Significant events

• “A new management structure was put in place from 1st February 2024. This new structure placed a General Manager in operational charge of each site, with both supported by the HR and Finance Manager. This management team reports directly to the Managing Director, Brenda Hu. The Ferndown General Manager resigned in October 2024 and the role was assumed by the Business Director, also in October 2024 the HR Manager was made redundant, this role will now be fulfilled by an outside consultant. In November 2024 the Finance Manager was made redundant, this role will be fulfilled by the support of an outside consultant and Management Accountant with support from the Group Head of Finance. This strategic change was driven by the Group Leadership Team. The purpose was to make lean on the management level, with focus on customers development, thus resources will be put into sales and market development. Future developments - The company is currently looking at how it can utilise the group supply chain to source and reduce the purchase price of raw materials and components. This should help improve profit margins where possible in 2025. More R&D collaboration support from group to both sites will strengthen our position within the market by refreshing our current product portfolio.”

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

Filings

5

last 12 months

Capital events

0

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

  -30.7%

  £7,762,389 → £5,377,559

• Cash

  -14.5%

  £443,664 → £379,382

• Net assets

  -298.7%

  £667,036 → -£1,325,235

• Employees

  -15.9%

  88 → 74

• Operating profit

  -88.8%

  -£892,821 → -£1,685,509

• Profit before tax

  -88.1%

  -£907,139 → -£1,706,446

• Wages

  -13.1%

  £3,459,760 → £3,008,109

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