CLS STAINES LIMITED

• ⚠

  Material uncertainty over going concern

  At the time of approving the financial statements, the directors have a reasonable expectation that the company will be able to continue in operational existence despite the security given to external lenders over the assets of the company at 31 December 2024. The company is funded by a loan from its immediate parent company (the 'parent company'). The company's property acts as security for that parent company's loan. If the parent company is unable to continue as a going concern or comply with the terms of the loan agreement, the parent company's lenders may seek to exercise their rights in the loan agreement over the company's property. As at 31 December 2024, the company was in a net liability position of £7.6 million (2023: £6.1 million). As stated in note 11, a significant portion of the company's non-current liabilities amounting to £21.4 million (2023: £20.9 million) is due to fellow group undertakings. The company is in receipt of a letter of support from its ultimate parent company, CLS Holdings plc, (the 'ultimate parent company') confirming that adequate resources will be made available to the company to allow it to meet its liabilities as they fall due for the period until 30 September 2026, subject to the company continuing to be a wholly owned direct or indirect subsidiary of the ultimate parent company. The company's ability to meet future liabilities depends on the liquidity of its ultimate parent company, and in turn, the group it heads (the 'group'). The financial statements of the group and the ultimate parent company for the year ended 31 December 2024 include a material uncertainty related to going concern as they are reliant upon their ability to both refinance their debt maturing and to complete a number of property disposals in the going concern period, which are dependent on circumstances outside their control. This may have a direct impact on the ability of the ultimate parent company to provide the required financial support to the company.

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 101

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“At the time of approving the financial statements, the directors have a reasonable expectation that the company will be able to continue in operational existence despite the security given to external lenders over the assets of the company at 31 December 2024. The company is funded by a loan from its immediate parent company (the 'parent company'). The company's property acts as security for that parent company's loan. If the parent company is unable to continue as a going concern or comply with the terms of the loan agreement, the parent company's lenders may seek to exercise their rights in the loan agreement over the company's property. As at 31 December 2024, the company was in a net liability position of £7.6 million (2023: £6.1 million). As stated in note 11, a significant portion of the company's non-current liabilities amounting to £21.4 million (2023: £20.9 million) is due to fellow group undertakings. The company is in receipt of a letter of support from its ultimate parent company, CLS Holdings plc, (the 'ultimate parent company') confirming that adequate resources will be made available to the company to allow it to meet its liabilities as they fall due for the period until 30 September 2026, subject to the company continuing to be a wholly owned direct or indirect subsidiary of the ultimate parent company. The company's ability to meet future liabilities depends on the liquidity of its ultimate parent company, and in turn, the group it heads (the 'group'). The financial statements of the group and the ultimate parent company for the year ended 31 December 2024 include a material uncertainty related to going concern as they are reliant upon their ability to both refinance their debt maturing and to complete a number of property disposals in the going concern period, which are dependent on circumstances outside their control. This may have a direct impact on the ability of the ultimate parent company to provide the required financial support to the company.”

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

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

  +15%

  £1,157,734 → £1,331,723

• Cash

  —

  Not reported

• Net assets

  -25.2%

  -£6,064,225 → -£7,591,608

• Employees

  —

  Not reported

• Operating profit

  +78.6%

  -£1,191,496 → -£254,965

• Profit before tax

  +34.8%

  -£2,342,404 → -£1,527,380

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