JESSOPS EUROPE LIMITED

• ⚠

  Insolvency history on file

  Companies House holds prior insolvency events for this company. Detail and outcome on the official register.

• ◆

  Material uncertainty over going concern

  We draw attention to the company's net liabilities position and to note 1.2 of the financial statements, which sets out the current insolvency position of the company and the directors' assessment of going concern. Notwithstanding this, the directors have prepared the financial statements on a going concern basis due to the financial support available from the ultimate shareholder. Our opinion is not modified in respect of this matter. The Directors are aware that should any of the creditors decide to call on their amounts due to them, the Company does not have the immediate ability to fully extinguish the debts to the extent of its net liabilities. This indicates the existence of a material uncertainty that may cast doubt on the Company's ability to continue as a going concern. One of the Directors has confirmed via a letter of support they have sufficient liquid funds and will provide the Company with the financial support it requires to discharge its liabilities for a period of 12 months from the date of signing the financial statements as required. Repayments on the bank loan are being met and has since been fully settled after year end. This therefore helps mitigate the material uncertainty. The Directors are of the opinion that the Company has the full support of all related parties that the Company owes amounts to. The company is dependent on the continued support of the ultimate beneficial owner, with significant loan balances being due to other entities under the owner's control, and their continued support is necessary to cover ongoing losses. The Directors have considered the above and concluded that the Company can continue as a going concern, meeting its liabilities as they fall due. The financial statements have therefore been prepared on a going concern basis.

• ·

  Going-concern uncertainty disclosed

• ·

  Negative shareholders' funds

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 —. Year-on-year comparison hidden: this filing covers about 12 months versus 12 months prior. 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 §1A

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

MGI Midgley Snelling LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to the company's net liabilities position and to note 1.2 of the financial statements, which sets out the current insolvency position of the company and the directors' assessment of going concern. Notwithstanding this, the directors have prepared the financial statements on a going concern basis due to the financial support available from the ultimate shareholder. Our opinion is not modified in respect of this matter. The Directors are aware that should any of the creditors decide to call on their amounts due to them, the Company does not have the immediate ability to fully extinguish the debts to the extent of its net liabilities. This indicates the existence of a material uncertainty that may cast doubt on the Company's ability to continue as a going concern. One of the Directors has confirmed via a letter of support they have sufficient liquid funds and will provide the Company with the financial support it requires to discharge its liabilities for a period of 12 months from the date of signing the financial statements as required. Repayments on the bank loan are being met and has since been fully settled after year end. This therefore helps mitigate the material uncertainty. The Directors are of the opinion that the Company has the full support of all related parties that the Company owes amounts to. The company is dependent on the continued support of the ultimate beneficial owner, with significant loan balances being due to other entities under the owner's control, and their continued support is necessary to cover ongoing losses. The Directors have considered the above and concluded that the Company can continue as a going concern, meeting its liabilities as they fall due. The financial statements have therefore been prepared on a going concern basis.”

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.