ORDRE GROUP INTERNATIONAL LIMITED UK

• ⚠

  Material uncertainty over going concern

  As at 31 March 2024, the Company's current liabilities exceeded its current assets by HK$14,858,118 and incurred net liabilities by HK$22,189,450. The Company incurred a loss of HK$22,337,271 for the year ended 31 March 2024. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern and therefore, the Company may not be able to realise its assets and discharge its liabilities in the normal course of business.

• ◆

  Audit opinion: Disclaimer of opinion

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

1. ORDRE GROUP INTERNATIONAL LIMITED UK 2022-10-14 → present
2. AEON INTERNATIONAL LIMITED UK 2018-09-10 → 2022-10-14

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

HKFRS

Reporting scope

Standalone (parent only)

Auditor

Confucius International CPA Limited

Audit opinion

Disclaimer of opinion

Going concern

Material uncertainty disclosed

“As at 31 March 2024, the Company's current liabilities exceeded its current assets by HK$14,858,118 and incurred net liabilities by HK$22,189,450. The Company incurred a loss of HK$22,337,271 for the year ended 31 March 2024. These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern and therefore, the Company may not be able to realise its assets and discharge its liabilities in the normal course of business.”

Significant events

• “The Company's main business lines during the financial year to 31 March 2024 continued to be the provision of ORB360 digital assets. Year-on-year ("YoY") we saw a 12% decrease of Revenues primarily due to the loss of one client which accounted for 18% of our 2023 revenues but also a general slowing of the growth experienced during and immediately post the pandemic for most of our luxury clients.”
• “The Company continues to enhance the suite of products with the launch in April 2024 of the ORB360 Studio services for retail customers who require a permanent installation.”
• “Management determined that another area for high growth would be the launch of authentication services powered by a technology called VisionAI... This business line was named Authentique and in the financial year ending March 2024, the Company successfully executed a first pilot at large scale.”
• “The European Commission proposed a new regulation, the Ecodesign for Sustainable Product Regulation (ESPR), which came into force in May 2024, making transparency and traceability a regulatory requirement for any luxury brand in Europe.”
• “On 27 May 2024, the EU Council adopted the ecodesign regulation, which sets requirements for sustainable fashion (and all other) products. The new rules will affect the majority of products starting in July 2026.”

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

• Turnover

  -12.2%

  £1,813,026 → £1,591,192

• Cash

  -18.8%

  £449,734 → £365,166

• Net assets

  -23,640.3%

  £8,910 → -£2,097,440

• Employees

  —

  Not reported

• Operating profit

  +29%

  -£2,627,240 → -£1,865,241

• Profit before tax

  +20.2%

  -£2,644,939 → -£2,111,392

• Wages

  -10.5%

  £1,171,687 → £1,048,630

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