OXFORD QUANTUM CIRCUITS LIMITED

• ⚠

  Material uncertainty over going concern

  Material uncertainty related to going concern: We draw attention to note 2.4 in the financial statements, which indicates that the Group and Company will require additional funding in order to meet its liabilities as they fall due over the period of at least 12 months from the date of approval of these financial statements. As stated in note 2.4, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the group's and the parent company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Material uncertainty related to going concern: We draw attention to note 2.4 in the financial statements, which indicates that the Group and Company will require additional funding in order to meet its liabilities as they fall due over the period of at least 12 months from the date of approval of these financial statements. As stated in note 2.4, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the group's and the parent company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. OXFORD QUANTUM CIRCUITS LIMITED · parent
   1. OQC K.K. 100% · Japan · To build R&D quantum computing
   2. Oxford Quantum Circuits S.L.U. 100% · Spain · Dormant
   3. OQC Pty 100% · Australia · Dormant
   4. OQC U.S. Inc. 100% · USA · Dormant

Significant events

• “The Company launched a number of research projects backed by Innovate UK including: DECIDE (Dimon Error Correction Integrated into a Data-centre Environment) in collaboration with Riverlane, The DECIDE project aims to build the UK's first error-corrected quantum computer in a data centre environment to enhance fault-tolerant quantum computing capabilities; and CoaxChem, a collaboration with Kvantify, a leading quantum software company that is set to demonstrate the first quantum hardware-tailored platform capable of performing chemically accurate modelling of battery processes. During the year, the Company expanded partnerships with AWS and Equinix, reinforcing its global reach and cloud-first deployment strategy.”

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

Filings

20

last 12 months

Capital events

1

last 24 months

Officers appointed

5

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -92.7%

  £4,656,913 → £338,859

• Cash

  -44.7%

  £24,810,336 → £13,722,246

• Net assets

  -31%

  £29,116,585 → £20,104,441

• Employees

  +30.4%

  102 → 133

• Operating profit

  -23.7%

  -£18,282,512 → -£22,611,769

• Profit before tax

  -22.4%

  -£18,043,545 → -£22,088,631

• Wages

  +21.8%

  £6,632,443 → £8,077,556

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