GENERAL NUCLEAR INTERNATIONAL LIMITED

• ⚠

  Material uncertainty over going concern

  Based on the above, the director believes it remains appropriate to prepare the financial statements on a going concern basis. However, these circumstances represent a material uncertainty that may cast significant doubt upon the company's ability to continue as a going concern and, therefore to continue realising its assets and discharging its liabilities in the normal course of business.

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

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Based on the above, the director believes it remains appropriate to prepare the financial statements on a going concern basis. However, these circumstances represent a material uncertainty that may cast significant doubt upon the company's ability to continue as a going concern and, therefore to continue realising its assets and discharging its liabilities in the normal course of business.”

Group structure

1. GENERAL NUCLEAR INTERNATIONAL LIMITED · parent
   1. Bradwell Power Holding Company Limited 66.5% · UK · Holding Company of Bradwell Power Generation Company Limited
   2. Bradwell Power Generation Company Limited 66.5% · UK · Construction of new nuclear power generation plant at the Bradwell B, Essex site
   3. General Nuclear System Limited 66.5% · UK · Owner of intellectual property rights of UKHPR1000 technology. Company intends to licence to developers in the UK nuclear power generation industry, and Bradwell Power Generation Company Limited.

Significant events

• “The current year's loss is mainly attributable to the impairment charge of £8.9m in respect of the intellectual property costs for UKHPR1000 nuclear reactor technology.”
• “General Nuclear Systems Limited (GNSL), a company jointly owned by CGN and EDF gained UK regulatory approval of the Hualong UKHPR1000 technology in 2022 after 5 years of development. The licensing of the UKHPR1000 nuclear reactor technology was initially to be deployed at the BRB project.”
• “UKHPR1000 development costs are considered irrecoverable and have been fully impaired.”
• “However discretionary activities have been suspended, including planning and development consents, which will quickly re-commence when the project is considered for approval by UKG. The shareholders have rescheduled FID to 2030.”
• “In 2022 UK regulatory approval was received for the GDA of the UKHPR1000 nuclear reactor technology and Group's interest in the SZC investment was acquired by the UK Government.”
• “As part of the reorganisation of the group in the coming year there is an intention to transfer the business of General Nuclear System Limited to Bradwell Power Generation Company Limited, both are subsidiaries.”

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

Filings

3

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

  +162.4%

  £4,593,957 → £12,056,028

• Cash

  -34.5%

  £14,439,374 → £9,461,777

• Net assets

  -5.4%

  £285,975,757 → £270,630,897

• Employees

  +32.7%

  49 → 65

• Operating profit

  -38%

  -£12,025,798 → -£16,591,977

• Profit before tax

  -72.9%

  -£9,893,479 → -£17,108,540

• Wages

  +53.6%

  £5,117,137 → £7,858,963

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