VOLOPA FINANCIAL SERVICES (SCOTLAND) LIMITED

• ⚠

  Material uncertainty over going concern

  The financial statements have been prepared on a going concern basis. The company has incurred a net loss of £3,550,790 during the year and at the balance sheet date, the company had net current asset of £1,149,809 (2023: £1,043,252) and overall net asset of £1,611,061 (2023: £1,400,851). The company relies on the continued financial support from its ultimate parent entity, Quantum Financial Holdings Limited (together the "Group"). The Group finances its operations through cash generated from trading and ongoing shareholder support. The directors have secured £10.1m of funding, comprising £2.1m contracted and awaiting completion and £8m pledged by an existing shareholder. A further £4.0m of additional funding has also been secured, of which £1.0m has been received, with the balance scheduled for payment in September and October 2025. While the Group does not currently hold sufficient cleared cash balances to support the company to remove a material uncertainty in respect of going concern, the directors have sufficient visibility over the committed funding pipeline to support the Group's operations and strategic plans. Accordingly, the directors have a reasonable expectation that the company will have adequate resources to continue trading, and the financial statements are prepared on a going concern basis. We draw attention to note 1.2 in the financial statements which indicates that a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern.

Latest accounts filed cover 2024-03-31; financial figures currently reflect up to 2021-03-31.

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

Gerald Edelman LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The financial statements have been prepared on a going concern basis. The company has incurred a net loss of £3,550,790 during the year and at the balance sheet date, the company had net current asset of £1,149,809 (2023: £1,043,252) and overall net asset of £1,611,061 (2023: £1,400,851). The company relies on the continued financial support from its ultimate parent entity, Quantum Financial Holdings Limited (together the "Group"). The Group finances its operations through cash generated from trading and ongoing shareholder support. The directors have secured £10.1m of funding, comprising £2.1m contracted and awaiting completion and £8m pledged by an existing shareholder. A further £4.0m of additional funding has also been secured, of which £1.0m has been received, with the balance scheduled for payment in September and October 2025. While the Group does not currently hold sufficient cleared cash balances to support the company to remove a material uncertainty in respect of going concern, the directors have sufficient visibility over the committed funding pipeline to support the Group's operations and strategic plans. Accordingly, the directors have a reasonable expectation that the company will have adequate resources to continue trading, and the financial statements are prepared on a going concern basis. We draw attention to note 1.2 in the financial statements which indicates that a material uncertainty exists that may cast doubt on the company's ability to continue as a going concern.”

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

Filings

16

last 12 months

Capital events

14

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

  -59.9%

  £178,657 → £71,610

• Cash

  +2.8%

  £305,076 → £313,702

• Net assets

  —

  Not reported

• Employees

  +7.7%

  13 → 14

• Operating profit

  +16.3%

  -£1,726,212 → -£1,444,472

• Profit before tax

  +16.3%

  -£1,727,549 → -£1,445,122

• Wages

  -6.2%

  £705,088 → £661,659

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers