HPGS GATEWAY OPCO LIMITED

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  Material uncertainty over going concern

  As such the Directors consider there to be a material uncertainty in respect of the loan maturity. The Company's plans to refinance the loan with prospective lenders, however this event is not the Directors control. This material uncertainty casts a significant doubt on the company's ability to continue as a going concern. Notwithstanding the material uncertainty described above, The Directors have a reasonable expectation that the Company will continue in operation and meet its commitments as they fall due during the Going Concern Period. On this basis, they have continued to adopt the going concern basis in preparing the financial statements.

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

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As such the Directors consider there to be a material uncertainty in respect of the loan maturity. The Company's plans to refinance the loan with prospective lenders, however this event is not the Directors control. This material uncertainty casts a significant doubt on the company's ability to continue as a going concern. Notwithstanding the material uncertainty described above, The Directors have a reasonable expectation that the Company will continue in operation and meet its commitments as they fall due during the Going Concern Period. On this basis, they have continued to adopt the going concern basis in preparing the financial statements.”

Significant events

• “On 27th of February 2025 the lender notified the Company that they had received an updated valuation report for the purpose of testing the loan to value covenant. The valuation received resulted in an LTV ratio of 71.4%, which exceeds the covenant threshold of 70%. As such The Company called capital from the investors on 6 March 2025 and paid £2.5m to the lender to reduce the loan balance to cure the breach.”

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

0

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

  +5.6%

  £11,425,265 → £12,064,333

• Cash

  -15.7%

  £1,905,330 → £1,605,593

• Net assets

  +56.8%

  £620,270 → £972,335

• Employees

  —

  Not reported

• Operating profit

  +5.6%

  £342,759 → £361,929

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