DONALDS GARAGE (BURY ST. EDMUNDS) LIMITED

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  Material uncertainty over going concern

  At the balance sheet date, the group was compliant with the financial covenant attached to the parent company's bank loan facilities. However, following the year end, continued trading pressures and cost increases resulted in covenant breaches. In response, the bank issued a Reservation of Rights letter confirming that it was not taking action in respect of the breach at that time. Further covenant breaches have occurred subsequently and the bank has issued a Letter of Concern. No enforcement action has been taken by the bank to date. As neither communication constitutes a formal waiver of the covenant requirements, the bank retains the right to demand repayment or take action in respect of the breaches. These circumstances represent a material uncertainty that may cast significant doubt on the group's and company's ability to continue as a going concern.

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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

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.

1. DONALDS GARAGE (BURY ST. EDMUNDS) LIMITED 2004-06-17 → present
2. CLASSICDRIVE LIMITED 2004-05-21 → 2004-06-17

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“At the balance sheet date, the group was compliant with the financial covenant attached to the parent company's bank loan facilities. However, following the year end, continued trading pressures and cost increases resulted in covenant breaches. In response, the bank issued a Reservation of Rights letter confirming that it was not taking action in respect of the breach at that time. Further covenant breaches have occurred subsequently and the bank has issued a Letter of Concern. No enforcement action has been taken by the bank to date. As neither communication constitutes a formal waiver of the covenant requirements, the bank retains the right to demand repayment or take action in respect of the breaches. These circumstances represent a material uncertainty that may cast significant doubt on the group's and company's ability to continue as a going concern.”

Significant events

• “In the periods following the year end, the group breached certain financial covenants relating to bank loans in the parent company. These breaches have continued into the subsequent financial year ending 30 April 2026. Further details and the implications of these matters on the group's going concern assessment are set out in note 2.3.”

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

Filings

2

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.