MIC CAPITAL PARTNERS III EUROPEAN HOLDINGS LTD

• ◆

  4 PSCs 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

FRS 102

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Notwithstanding net current liabilities of $3,789,714 (2023: net current assets $216,036,247) as at 31 December 2024, 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 performed a going concern assessment which indicates that, taking account of reasonably possible downsides, the Company will have sufficient funds, through funding from its parent entity, MIC Capital Partners III Parallel (Cayman), LP ("the Fund"), to meet its liabilities as they fall due during the going concern assessment period. This assessment is dependent on the Fund not seeking repayment of the amounts currently due to the Company, which at 31 December 2024 amounted to $3,306,038 (2023: $601,197) and providing additional financial support during the going concern assessment period. The Fund has indicated their intention to continue to make available such funds as are needed by the Company, and that it does not intend to seek repayment of the amounts due at the balance sheet date, during the going concern assessment period. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. Consequently, the directors are confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.”

Group structure

1. MIC CAPITAL PARTNERS III EUROPEAN HOLDINGS LTD · parent
   1. Witherslack Aggregator Limited 0.5% · England · Investment holding company

Significant events

• “On 31 December 2024, a capital reduction took place, by special resolution, whereby the issued share capital of the Company was reduced from £210,557,868 to £1, by cancelling and extinguishing share capital which was fully paid up. The amount by which the share capital was reduced was credited to the Company's profit and loss account.”

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

Filings

7

last 12 months

Capital events

2

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.

• Turnover

  —

  Not reported

• Cash

  +44.9%

  £30,152 → £43,686

• Net assets

  -37.1%

  £361,639,541 → £227,388,517

• Employees

  —

  Not reported

• Operating profit

  -72.1%

  £94,955,072 → £26,534,930

• Profit before tax

  -72.1%

  £95,090,483 → £26,534,744

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