FOMTECH LIMITED

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  Material uncertainty over going concern

  These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern. However, having considered the forecasts, continued support of existing shareholders and loan confirmation, the Directors have a reasonable expectation that the Group will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis of accounting preparing these financial statements.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

• ·

  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.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

RSM UK Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“These conditions indicate the existence of a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern. However, having considered the forecasts, continued support of existing shareholders and loan confirmation, the Directors have a reasonable expectation that the Group will have adequate resources to continue in operational existence for the foreseeable future. Accordingly, the Directors continue to adopt the going concern basis of accounting preparing these financial statements.”

Group structure

1. FOMTECH LIMITED · parent
   1. Floww Markets Limited 100% · UK · MiFID investment firm
   2. Floww Pool Limited 100%
   3. Floww Trust Company Limited 100% · Jersey
   4. Floww Private Markets US Inc. 100% · US · carrying broker-dealer and Alternative Trading System
   5. Floww Funds Management Limited 100% · Jersey

Significant events

• “Subsequent to the year end, the Company obtained the necessary shareholder and third-party consents to raise up to £4 million of additional equity financing over a number of months. As at the date of approval of these financial statements, £1.25 million of equity funding has been raised under this authority, with additional commitments in place and the remaining amount available to be raised.”
• “In addition, after the reporting period the Company secured a £2.5 million loan facility. The facility is available to support the Company's ongoing operations and development activities. No amounts were drawn down under the facility at the reporting date.”

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

Filings

9

last 12 months

Capital events

3

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.