CORAL PRODUCTS (MOULDINGS) LTD

• ⚠

  Material uncertainty over going concern

  During a meeting held on 18 January 2023, the directors of the company announced their intentions to cease operations and transfer its injection moulding and blow moulding product lines to other entities within the IPL Plastics (UK) group. Whilst operations and business activity has ceased, the assets and liabilities of the company are still in the process of the being transferred. As a result, the financial statements have not been prepared on a going concern basis, instead they have been prepared on a basis other than going concern. Accordingly, adjustments have been made to provide for the diminution in value of all fixed assets so as to reduce their carrying value to their estimated realisable amount, to provide for any further liabilities which will arise, and to reclassify fixed assets and long-term liabilities as current assets and liabilities.

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

Ernst & Young, Statutory Auditor

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“During a meeting held on 18 January 2023, the directors of the company announced their intentions to cease operations and transfer its injection moulding and blow moulding product lines to other entities within the IPL Plastics (UK) group. Whilst operations and business activity has ceased, the assets and liabilities of the company are still in the process of the being transferred. As a result, the financial statements have not been prepared on a going concern basis, instead they have been prepared on a basis other than going concern. Accordingly, adjustments have been made to provide for the diminution in value of all fixed assets so as to reduce their carrying value to their estimated realisable amount, to provide for any further liabilities which will arise, and to reclassify fixed assets and long-term liabilities as current assets and liabilities.”

Significant events

• “On 30 April 2025, the Companies ultimate parent announced its intention to merge with Schoeller Allibert, primarily a European manufacturer of reusable transport packaging solutions headquartered in Hoofddorp, the Netherlands. The proposed merger, which is subject to certain closing conditions including the receipt of regulatory approvals, is expected to close in the third quarter of 2025.”

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

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

  -100%

  £2,933,000 → £0

• Cash

  -40%

  £5,000 → £3,000

• Net assets

  -5%

  -£3,029,000 → -£3,179,000

• Employees

  -100%

  28 → 0

• Operating profit

  +97.3%

  -£4,490,000 → -£122,000

• Profit before tax

  +96.7%

  -£4,523,000 → -£150,000

• Wages

  -99.9%

  £745,000 → £1,000

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