FERGUSON MARINE (PORT GLASGOW) HOLDINGS LIMITED

• ⚠

  Material uncertainty over going concern

  Considering these factors, The Board of Directors acknowledge that there is material risk and uncertainty relating to going concern with uncertainty surrounding the future levels of work and subsequently any the levels of financial support required from the Scottish Government Nevertheless, it is the Board's view that while there is material uncertainty the Board consider the adoption of the going concern basis of accounts as appropriate

1. FERGUSON MARINE (PORT GLASGOW) HOLDINGS LIMITED 2019-12-03 → present
2. MACROCOM (1068) LIMITED 2019-08-12 → 2019-12-03

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

UK-adopted International Accounting Standards

Reporting scope

Consolidated group

Auditor

John Boyd FCPFA

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Considering these factors, The Board of Directors acknowledge that there is material risk and uncertainty relating to going concern with uncertainty surrounding the future levels of work and subsequently any the levels of financial support required from the Scottish Government Nevertheless, it is the Board's view that while there is material uncertainty the Board consider the adoption of the going concern basis of accounts as appropriate”

Group structure

1. FERGUSON MARINE (PORT GLASGOW) HOLDINGS LIMITED · parent
   1. Ferguson Marine (Port Glasgow) Limited 100% · Scotland · Shipbuilding
   2. Ferguson Marine (801-802) Limited 100% · Scotland · Shipbuilding
   3. Ferguson Marine (Commercial) Limited 100% · Scotland · Shipbuilding

Significant events

• “FMPG successfully handed over 801 MV Glen Sannox to Caledonian Maritime Assets Limited (CMAL) on 21st November 2024.”
• “On 13th May 2025, FMPG CEO Graeme Thomson wrote to NZET Committee to inform them that, regrettably, the planned delivery date for 802 Glen Rosa would be Q2 2026.”
• “A contract to build three units as part of the Type 26 frigate programme for HMS Birmingham was signed on 9th July 2025 and is due to be completed in Q1 2026.”
• “In March 2025, the interim CEO left the business and was replaced by a permanent CEO in May 2025.”
• “In February 2025 an independent company was engaged to run an Employee Engagement exercise to identify areas where employee satisfaction could be improved.”
• “In August 2024, HMRC advised FMPG Holdings is a non-departmental government body that they would conduct a routine review of our employer's duties.”
• “In May 2025 an independent audit took place to audit the compliance of the management system, the outcome was 2 new advisories graded as minor. The overall audit opinion is that our management system continues to meet the requirements of the standard and as such continued certification of the management system to ISO9001 2015 was recommended.”
• “In July 2025 we were accredited with Cyber Essentials Plus where our security controls were independently tested.”
• “During financial year 2024/25 a foreign exchange loss of £38,964 was incurred on the purchase of materials from Europe for the build of 801 and 802.”

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

Filings

4

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

  -14%

  £68,355,000 → £58,805,000

• Cash

  -34.5%

  £10,293,000 → £6,738,000

• Net assets

  +3.4%

  £12,870,000 → £13,307,000

• Employees

  -11.1%

  450 → 400

• Operating profit

  -105%

  -£1,316,000 → -£2,698,000

• Profit before tax

  -107.4%

  -£1,322,000 → -£2,742,000

• Wages

  -13.7%

  £24,102,000 → £20,798,000

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