CAFEDIRECT PLC

• ⚠

  Material uncertainty over going concern

  Having reviewed the plans, associated forecast to 31 December 2026 and additional actions, along with recognising the long-term supportive nature of Cafédirect's relationship with its bankers and other long-term stakeholders, the Directors confirm that based on the assumptions above in relation to trading forecasts, price increases and various cost reductions, they have a reasonable expectation that the Group and Company has adequate resources to continue to meet its liabilities as they fall due for the foreseeable future. Accordingly, the going concern basis has been adopted in the preparation of the accounts. Although the Directors are confident that Cafedirect will meet their forecasts and therefore will be able to meet the terms of the covenants, a consistent failure to fully comply with the terms of the loan which may result in a default interest rate being applied to the loan account in the future or the potential recall of the loan. The combination of factors above represent a material uncertainty which may cast significant doubt about the Group's and Company's ability to continue as a going concern.

1. CAFEDIRECT PLC 2003-12-17 → present
2. CAFEDIRECT LIMITED 1992-11-30 → 2003-12-17

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

FRS 102

Reporting scope

Consolidated group

Auditor

Crowe UK LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Having reviewed the plans, associated forecast to 31 December 2026 and additional actions, along with recognising the long-term supportive nature of Cafédirect's relationship with its bankers and other long-term stakeholders, the Directors confirm that based on the assumptions above in relation to trading forecasts, price increases and various cost reductions, they have a reasonable expectation that the Group and Company has adequate resources to continue to meet its liabilities as they fall due for the foreseeable future. Accordingly, the going concern basis has been adopted in the preparation of the accounts. Although the Directors are confident that Cafedirect will meet their forecasts and therefore will be able to meet the terms of the covenants, a consistent failure to fully comply with the terms of the loan which may result in a default interest rate being applied to the loan account in the future or the potential recall of the loan. The combination of factors above represent a material uncertainty which may cast significant doubt about the Group's and Company's ability to continue as a going concern.”

Group structure

1. CAFEDIRECT PLC · parent
   1. Cafédirect Roastery Limited 100% · England
   2. Cafédirect Coffee Trading Company Limited 100% · Ireland

Significant events

• “Cafédirect acquired the UK business of Bewley's Ireland in June 2023.”
• “Headcount reduction from 78 to 62 FTEs in Quarter 3 2024.”
• “The full implementation of one ERP system (SAP Business One) across the Group went live in April 2024.”
• “Transitioning the Grumpy Mule brand to 100% Fairtrade.”
• “The Grumpy Mule brand was repackaged and relaunched.”
• “The new EU Deforestation Regulation (EUDR) will become fully applicable on 30th December 2025.”
• “During the year, covenants relating to the Triodos debt facility were breached on eleven out of the twelve months.”

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

Filings

9

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

  +22.9%

  £21,173,732 → £26,018,417

• Cash

  -64.2%

  £974,517 → £348,663

• Net assets

  -64.8%

  £1,972,465 → £695,238

• Employees

  -23%

  100 → 77

• Operating profit

  +29%

  -£1,495,146 → -£1,061,090

• Profit before tax

  +26%

  -£1,657,528 → -£1,226,009

• Wages

  +5.8%

  £3,613,255 → £3,822,735

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