SDCL SOLAR EDGE LIMITED

• ⚠

  Material uncertainty over going concern

  The company is currently in a sales process expected to be completed shortly after the approval of these financial statements which will result in a change in ownership. The current Directors expect continuity in operations under the potential buyer's ownership and the Directors have prepared the financial statements on a going concern basis as they have a reasonable expectation that the company will continue to operate for the foreseeable future. However, the Directors accept they will not have full control of the company post-acquisition and therefore do not have full knowledge of the intended business strategy, plans and financing of the buyer in the event of an ownership change. As a result, there exists a material uncertainty that may cast significant doubt about the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.

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

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The company is currently in a sales process expected to be completed shortly after the approval of these financial statements which will result in a change in ownership. The current Directors expect continuity in operations under the potential buyer's ownership and the Directors have prepared the financial statements on a going concern basis as they have a reasonable expectation that the company will continue to operate for the foreseeable future. However, the Directors accept they will not have full control of the company post-acquisition and therefore do not have full knowledge of the intended business strategy, plans and financing of the buyer in the event of an ownership change. As a result, there exists a material uncertainty that may cast significant doubt about the company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.”

Significant events

• “The Company is currently in a sales process expected to be completed shortly after the date of approval of these financial statements which will result in a change in ownership.”
• “Subsequent to the year end, it has been brought to the attention of the Directors that the surrender of UK tax losses by the Company to its immediate parent and subsidiary entities within the group in prior years (in line with the Corporation Tax Act 2010), without consideration, represents a distribution of assets with intrinsic value, for which the Company has not been compensated. The Company did not have sufficient distributable reserves to support the distributions at the time. The value of such tax losses surrendered by the Company amounted to £223,826. The Company is engaging its tax experts and legal advisors to address any remedial actions required to rectify this issue.”

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

Filings

10

last 12 months

Capital events

2

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

  -0.4%

  £123,121 → £122,640

• Cash

  +314.9%

  £8,913 → £36,982

• Net assets

  -927.2%

  -£15,141 → -£155,532

• Employees

  —

  Not reported

• Operating profit

  -260.9%

  £18,886 → -£30,391

• Profit before tax

  -53.6%

  -£91,415 → -£140,391

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