ENSCO 1278 LIMITED

• ⚠

  Annual accounts overdue

  Due 2026-03-22.

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.3 in the financial statements which indicates that the company and group is reliant on the continued support of it's main lender being BlackRock to continue as a going concern. The group have breached their financial covenants under the amended Senior Facilities Agreement subsequent to the year end. As stated in note 2.3 the breach of a financial covenant indicates that a material uncertainty exists that may cast significant doubt on the company and group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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

Consolidated group

Auditor

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.3 in the financial statements which indicates that the company and group is reliant on the continued support of it's main lender being BlackRock to continue as a going concern. The group have breached their financial covenants under the amended Senior Facilities Agreement subsequent to the year end. As stated in note 2.3 the breach of a financial covenant indicates that a material uncertainty exists that may cast significant doubt on the company and group's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. ENSCO 1278 LIMITED · parent
   1. Ensco 1150 Limited 100% · UK · Holding Company
   2. Espria Limited 100% · UK · Supplier of print solution services
   3. Mode Solutions Limited 100% · UK · Holding Company
   4. Mode Communications Limited 100% · UK · Supplier of telephone services
   5. Nix Networks Limited 100% · UK · Supplier of telephone services
   6. Mode Copiers Limited 100% · UK · Dormant
   7. Mode IT Solutions Limited 100% · UK · Dormant
   8. Streamwire Group Limited 100% · UK · Holding Company
   9. EACS Limited 100% · UK · Supplier of IT. Solutions and services
   10. SNX Services Limited 100% · UK · Dormant

Significant events

• “On 23 December 2023, Mode Solutions Limited (a subsidiary undertaking) amended and increased its Senior Facilities and Revolving Facilities agreement, which included a reset of the financial covenants.”
• “Subsequent to the reporting date, Richard Jefferies was appointed Chief Financial Officer, Greg Hawthorn was appointed as MD of Cloud Services and Chris Jagusz appointed chairman of the Board.”
• “On 19 June 2024, the company made a draw down of £1,455,000 from the revolving bank facility of £4,000,000 available to it.”

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

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

  +32.8%

  £27,133,056 → £36,038,538

• Cash

  +28%

  £1,826,470 → £2,336,975

• Net assets

  -36.4%

  -£43,479,925 → -£59,326,987

• Employees

  +10.2%

  147 → 162

• Operating profit

  +57.4%

  -£20,521,715 → -£8,744,834

• Profit before tax

  +36.4%

  -£25,048,888 → -£15,923,479

• Wages

  +20%

  £7,169,112 → £8,602,889

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