CLS GATEWAY HOUSE LIMITED

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  Material uncertainty over going concern

  Based on the above, the Company relies on its ultimate parent company for financial support, which is not guaranteed. Additionally, the Company's property serves as security for its Immediate Parent Company's loan. If the Immediate Parent Company is unable to continue as a going concern or comply with the terms of the loan agreement, its lenders may seek to exercise their rights in the loan agreement over the Company's property. As a result, this indicates that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern and therefore, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. Notwithstanding this material uncertainty on the going concern assumption, the Directors are confident that given the Group's track record, the Group and the Ultimate Parent Company's debt falling due for repayment in the going concern period, will be refinanced or settled in line with plans, rather than requiring repayment on maturity, or will be extinguished as part of property disposals in the period - and consequently, the Ultimate Parent Company will be able to provide the required support to the Company.

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  Going-concern uncertainty disclosed

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. CLS GATEWAY HOUSE LIMITED 2014-11-14 → present
2. MOHICAN NOMINEES LIMITED 2011-11-01 → 2014-11-14
3. SPRING MEWS LIMITED 2011-08-31 → 2011-11-01
4. MOHICAN NOMINEES LIMITED 1990-10-02 → 2011-08-31
5. MERGESTRIKE LIMITED 1990-07-13 → 1990-10-02

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Based on the above, the Company relies on its ultimate parent company for financial support, which is not guaranteed. Additionally, the Company's property serves as security for its Immediate Parent Company's loan. If the Immediate Parent Company is unable to continue as a going concern or comply with the terms of the loan agreement, its lenders may seek to exercise their rights in the loan agreement over the Company's property. As a result, this indicates that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern and therefore, the Company may be unable to realise its assets and discharge its liabilities in the normal course of business. Notwithstanding this material uncertainty on the going concern assumption, the Directors are confident that given the Group's track record, the Group and the Ultimate Parent Company's debt falling due for repayment in the going concern period, will be refinanced or settled in line with plans, rather than requiring repayment on maturity, or will be extinguished as part of property disposals in the period - and consequently, the Ultimate Parent Company will be able to provide the required support to the Company.”

Significant events

• “A cyclical downturn in the property market, changes in the supply of space and/or occupier demand or overall poor asset management could have a negative impact on the cash flows, profitability and net assets of the Company.”
• “The Company has no external bank debt itself, but the property it holds acts as security to debt owed by its Parent and so is subject to the risk that those lenders would seek to exercise their security in the event that its Parent was unable to continue as a going concern.”
• “Significant events or changes in the global and/or European political and/or economic landscape may affect the profitability of the Company.”

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

Filings

8

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.