ROAD MANAGEMENT SERVICES (A13) OPERATIONS LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 1 to the financial statements which indicates that the Company's 'ability to continue as a going concern is dependent on the continued financial support from another group company's Credit Providers. These events and conditions, along with the other matters described in note 1, constitute a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. ... However, the referred breaches represent a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of business.

• ◆

  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

FRS 102

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 1 to the financial statements which indicates that the Company's 'ability to continue as a going concern is dependent on the continued financial support from another group company's Credit Providers. These events and conditions, along with the other matters described in note 1, constitute a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. ... However, the referred breaches represent a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern and, therefore, to continue realising its assets and discharging its liabilities in the normal course of business.”

Significant events

• “In July 2022, the trading Company has executed an agreement with TFL to re-scoping the delivery of the River Lea Crossing works, which has contributed to reducing the risk of the Project.”
• “In early 2022, the trading Company also executed an agreement with TFL to delay the application of some of the Bridge Replacement Works related revenue retentions and that has been introduced in the latest approved versions of the approved finance model and has contributed to reduce the likelihood of covenant breaches.”

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

0

last 24 months

Officers appointed

2

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

  +8.9%

  £2,167,000 → £2,359,000

• Cash

  +103.7%

  £296,000 → £603,000

• Net assets

  +61%

  £426,000 → £686,000

• Employees

  +3.8%

  26 → 27

• Operating profit

  -5.6%

  £354,000 → £334,000

• Profit before tax

  -3.6%

  £360,000 → £347,000

• Wages

  +15.1%

  £1,261,000 → £1,451,000

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