PLEXUS OCEAN SYSTEMS LIMITED

• ⚠

  Material uncertainty over going concern

  The projections are reliant converting currently uncontracted sales growth in 2026. Failure to achieve this, combined with inherent uncertainty regarding support arrangements, indicates a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. The financial statements do not include adjustments resulting from inability to continue.

1. PLEXUS OCEAN SYSTEMS LIMITED 1997-07-02 → present
2. PLEXUS PRODUCTS INTERNATIONAL LIMITED 1993-02-11 → 1997-07-02
3. PLEXUS PIPE PRODUCTS (U.K.) LIMITED 1990-01-17 → 1993-02-11
4. LEDGE THIRTEEN LIMITED 1989-11-16 → 1990-01-17

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

Crowe U.K. LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The projections are reliant converting currently uncontracted sales growth in 2026. Failure to achieve this, combined with inherent uncertainty regarding support arrangements, indicates a material uncertainty which may cast significant doubt on the Company's ability to continue as a going concern. The financial statements do not include adjustments resulting from inability to continue.”

Group structure

1. PLEXUS OCEAN SYSTEMS LIMITED · parent
   1. Plexus Limited 100% · Dormant
   2. Plexus Applied Technologies Limited 100% · Dormant
   3. Plexus Holdings USA Inc. 100% · Investment Holding
   4. Plexus Response Services Limited 100% · Dormant
   5. Plexus Subsea International Limited 100% · Commercial exploitation of subsea applications
   6. Plexus Ocean Systems (Malaysia) Sdn Bhd 100% · Malaysia · Supply of wellheads and associated equipment for oil and gas drilling
   7. Plexus Ocean Systems (Brunei) Sdn Bhd 100% · Brunei Darussalam · Supply of wellheads and associated equipment for oil and gas drilling
   8. Plexus Offshore Systems (Singapore) Pte Ltd 100% · Singapore · Supply of wellheads and associated equipment for oil and gas drilling
   9. Afrotel Corporation Ltd 100% · Dormant
   10. Plexus Pressure Control Limited 100% · Dormant

Significant events

• “The company had no contingent liabilities as at 30 June 2025 (2024: £nil).”
• “Capital expenditure decreased to £1.63m (2024: £3.06m). The capex in the prior year was significantly higher to service a major rental contract.”

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

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  -48.1%

  £8,641,000 → £4,481,000

• Cash

  -91.2%

  £2,422,000 → £214,000

• Net assets

  -47.7%

  £3,755,000 → £1,964,000

• Employees

  +8.8%

  34 → 37

• Operating profit

  -164.4%

  £1,515,000 → -£975,000

• Profit before tax

  -215%

  £1,558,000 → -£1,791,000

• Wages

  -14.3%

  £2,378,000 → £2,038,000

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