TARFIN LIMITED

• ⚠

  Annual accounts overdue

  Due 2026-03-22.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

Consolidated group

Auditor

Moore Kingston Smith LLP

Audit opinion

Qualified

Going concern

Affirmed

“The Company and Group have experienced a temporary period of operating losses in FY2023 and in the first half of 2024, primarily due to macroeconomic volatility experienced in Turkey, the main operating country, since the beginning of 2023. Management is pleased to report that the Company has finalized its Series B round investment whereby 4m USD of new equity investments have been issued as of Nov'24 in addition to converting to equity 13m USD of convertible notes that were issued in 2021 and 2023. This capital infusion has provided the necessary resources to further strengthen the balance sheet position and accelerate growth to bring the Company to profitability. Based on the above, the financial statements have been prepared on a going concern basis, reflecting management's strong belief in the Company's and Group's future profitability and ongoing viability.”

Group structure

1. TARFIN LIMITED · parent
   1. Tarfin Tarım AŞ 100% · Turkey · agricultural industry
   2. Tarfin Agricultura SRL 100% · Romania · agricultural industry
   3. Tarfin IFN S.A · Romania · non-bank financial institution

Significant events

• “On January 31, 2024, the Company converted its total lending to Tarfin IFN SA into equity. The total converted amount is $2,983,567, which comprises of the principal and the accrued interest of the existing intercompany loan and also the withholding tax paid to the Romanian state.”

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

5

last 24 months

Officers appointed

0

last 12 months

Officers resigned

3

last 12 months

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

• Turnover

  -12.3%

  £66,957,676 → £58,710,431

• Cash

  -24.1%

  £5,176,160 → £3,926,907

• Net assets

  -16.5%

  £11,320,226 → £9,451,925

• Employees

  -18.8%

  117 → 95

• Operating profit

  -27.7%

  £10,568,632 → £7,637,945

• Profit before tax

  -293.5%

  £1,344,257 → -£2,600,468

• Wages

  +45.2%

  £1,387,749 → £2,015,557

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