ZAVARCO PLC

• ⚠

  Material uncertainty over going concern

  The recoverability of the unpaid subscriber share capital and amounts due from former related parties are part of legal disputes, the outcome of which is still uncertain. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. The Group's current liabilities exceeded its current assets by RM 26.5m.

• ◆

  Audit opinion: Disclaimer of opinion

  Latest auditor's report carried a non-clean opinion.

1. ZAVARCO PLC 2014-08-11 → present
2. VASSETI (UK) PLC 2011-06-29 → 2014-08-11

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

Meer & Co Chartered Accountants

Audit opinion

Disclaimer of opinion

Going concern

Material uncertainty disclosed

“The recoverability of the unpaid subscriber share capital and amounts due from former related parties are part of legal disputes, the outcome of which is still uncertain. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. The Group's current liabilities exceeded its current assets by RM 26.5m.”

Group structure

1. ZAVARCO PLC · parent
   1. ZAVARCO PLC SDN BHD 100% · Malaysia · Property management, maintenance service

Significant events

• “Due to an ongoing legal dispute, the Group had no trading during the year.”
• “The Company obtained a judgement in the sum of €84m plus interest and costs against a former director and a shareholder for 840m of unpaid subscriber shares.”
• “The Company is pursuing a claim for €36m plus interest and costs against another former director and shareholder for 360m of unpaid and forfeited subscriber shares.”
• “Liquidators were appointed to Zavarco Berhad by the court order dated 5 December 2023.”

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

Filings

2

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

  -27.5%

  £689,823 → £499,965

• Net assets

  -0.5%

  £437,321,467 → £435,005,451

• Employees

  0%

  2 → 2

• Operating profit

  -111.2%

  £20,759,592 → -£2,316,016

• Profit before tax

  -110.8%

  £21,437,907 → -£2,316,016

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