SAGA CRUISES V LIMITED

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Notwithstanding net current liabilities of £88,873,000 as at 31 January 2025, the financial statements have been prepared on a going concern basis which the Directors consider to be appropriate for the following reasons. The Directors have prepared cash flow forecasts at the immediate parent level for a period of twelve months from the date of approval of these financial statements which indicate that, after taking account of reasonably possible downsides, the Company will have sufficient funds to meet its liabilities as they fall due for that period. This is made possible through the availability of funding from its intermediate parent company, Saga Group Limited. Based on this assessment, the Directors continue to adopt the going concern basis of accounting in preparing the financial statements for the year ending 31 January 2025. Full details regarding this assessment are included in note 2(b) to these financial statements. We consider that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate; we have not identified, and concur with the directors' assessment that there is not, a material uncertainty related to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for at least a year from the date of approval of the financial statements ("the going concern period").”

Significant events

• “The Russian invasion of Ukraine on 24 February 2022; the ongoing conflict in the Middle East and the recent introduction of tariffs has created heightened global economic and political uncertainty. Whilst the situations continue, a number of potential risks have been identified that could impact the Company's ability to deliver on its strategy that will require close monitoring and an agile management response.”
• “On 30 January 2025, the Group announced that it had agreed new credit facilities, comprising a £335.0m term loan facility, a £100.0m DDTL facility and a £50.0m RCF. The term loan facility and DDTL facility both mature on 29 January 2031 and the RCF matures on 29 July 2030. Subsequent to the year end, on 27 February 2025, the Group drew down the £335.0m term loan facility and utilised the proceeds to repay the £250.0m senior unsecured notes maturing in July 2026, and the £75.0m drawn under the £85.0m loan facility provided by Roger De Haan. This refinancing substantially reduced the Group's exposure to debt maturities in the near term and secured access to additional sources of liquidity to provide the Group with financial flexibility over the coming years.”

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

Filings

6

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.