NEWPORT NORSE LIMITED

• ⚠

  Material uncertainty over going concern

  The company carries out the majority of its works for Newport City Council under a long term agreement. This agreement is due to end on 31 December 2025 when the work will transfer to the Council and the company will no longer trade. As a consequence of the cessation of trade, the financial statements have been prepared on a basis other than going concern. The directors have considered whether any adjustments are required as a result of this basis of preparation, however none have been noted. The entity operates as part of a wider group and as such the directors have received confirmation from Norse Group Limited that it will provide, for a period of at least 12 months from the date of signing these financial statements, such financial support as is necessary to allow the company to meet its liabilities as they fall due.

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 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The company carries out the majority of its works for Newport City Council under a long term agreement. This agreement is due to end on 31 December 2025 when the work will transfer to the Council and the company will no longer trade. As a consequence of the cessation of trade, the financial statements have been prepared on a basis other than going concern. The directors have considered whether any adjustments are required as a result of this basis of preparation, however none have been noted. The entity operates as part of a wider group and as such the directors have received confirmation from Norse Group Limited that it will provide, for a period of at least 12 months from the date of signing these financial statements, such financial support as is necessary to allow the company to meet its liabilities as they fall due.”

Group structure

1. NEWPORT NORSE LIMITED · parent
   1. NPS Newport Limited 100% · United Kingdom · Dormant

Significant events

• “In March 2024, Newport City Council indicated that they will not be renewing the contract with Newport Norse Limited beyond 31 December 2025. Newport Norse Limited will continue to provide services up to this date and ensure a smooth transaction of services back to the Council.”

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

  -1.2%

  £29,002,492 → £28,643,314

• Cash

  -99.9%

  £5,417,612 → £3,668

• Net assets

  +13.9%

  £3,566,629 → £4,061,234

• Employees

  +17.4%

  293 → 344

• Operating profit

  -12.4%

  £754,771 → £661,169

• Profit before tax

  -12.4%

  £735,070 → £643,897

• Wages

  +9.9%

  £6,035,244 → £6,631,636

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