PRAGMATIC SEMICONDUCTOR LIMITED

• ⚠

  Material uncertainty over going concern

  Based on the above, the directors believe it remains appropriate to prepare the financial statements on a going concern basis. However, the circumstances described indicate there is a material uncertainty that may cast significant doubt of the entity's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. PRAGMATIC SEMICONDUCTOR LIMITED 2020-11-09 → present
2. PRAGMATIC PRINTING LIMITED 2010-11-24 → 2020-11-09
3. FUSIONFORM LIMITED 2010-10-29 → 2010-11-24

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

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Based on the above, the directors believe it remains appropriate to prepare the financial statements on a going concern basis. However, the circumstances described indicate there is a material uncertainty that may cast significant doubt of the entity's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business.”

Significant events

• “Successful Series D equity raise in December 2023 of £174 million, with second close receipts of £12 million received in 2024.”
• “The company welcomed the Princess Royal, HM Princess Anne to officially open, Pragmatic Park its 15-acre site in Durham in March of 2024.”
• “Subsequent to the year end the Company repaid £2.2 million in May 2025 to early settle an asset financing loan that was secured against FlexLogic-001 (FL-001).”

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

Filings

12

last 12 months

Capital events

1

last 24 months

Officers appointed

3

last 12 months

Officers resigned

4

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -0.7%

  £1,705,000 → £1,693,000

• Cash

  -44.8%

  £153,245,000 → £84,520,000

• Net assets

  -13.3%

  £203,329,000 → £176,331,000

• Employees

  +27.9%

  240 → 307

• Operating profit

  -50%

  -£36,755,000 → -£55,138,000

• Profit before tax

  -36.2%

  -£37,013,000 → -£50,425,000

• Wages

  +60.7%

  £13,341,000 → £21,439,000

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