VIEWERSLOGIC GROUP PLC

• ⚠

  Material uncertainty over going concern

  The Group has a high cash consumption rate, and going concern is largely dependent on the success of the Group's product and the revenues and resultant cashflows generated from it. The directors remain very confident in the product, levels of interest are high. However, ultimately forecasting future demand is inherently uncertain. Furthermore, the success of the product will also impact on the appetite of investors to invest further capital if it were required. Again, whilst the directors are confident the Group could raise more funds if required, this is inherently uncertain.

• ◆

  4 PSCs ceased in last 24 months

  Significant control changed hands — see the Ownership section.

1. VIEWERSLOGIC GROUP PLC 2019-03-19 → present
2. VIEWERSLOGIC PLC 2019-02-18 → 2019-03-19

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

TC Group

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The Group has a high cash consumption rate, and going concern is largely dependent on the success of the Group's product and the revenues and resultant cashflows generated from it. The directors remain very confident in the product, levels of interest are high. However, ultimately forecasting future demand is inherently uncertain. Furthermore, the success of the product will also impact on the appetite of investors to invest further capital if it were required. Again, whilst the directors are confident the Group could raise more funds if required, this is inherently uncertain.”

Group structure

1. VIEWERSLOGIC GROUP PLC · parent
   1. Viewerslogic Ltd 100% · Israel

Significant events

• “Since the balance sheet date, the Group has experienced a reduction in sales. In response, the Group successfully raised additional equity capital of £272,327 (net of expenses) through the issue of new shares, primarily subscribed for by existing shareholders.”
• “Subsequent to the reporting date, the Company issued 1,000,000 of £0.01 at par. In addition, the Company issued 1,380,666 of £0.01 at £0.19 per share.”

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

Filings

8

last 12 months

Capital events

5

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  -11.2%

  £1,376,187 → £1,222,328

• Cash

  -52.6%

  £310,796 → £147,201

• Net assets

  -134.6%

  £500,205 → -£173,078

• Employees

  -16.7%

  12 → 10

• Operating profit

  +15.4%

  -£1,514,411 → -£1,280,884

• Profit before tax

  +13.8%

  -£1,518,193 → -£1,309,276

• Wages

  -7.9%

  £1,080,341 → £995,004

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