EARLSWAY TEESSIDE LIMITED

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  Material uncertainty over going concern

  We draw your attention to note 2 in the financial statements, which highlights that the company is undergoing refinancing activities, as well as refinancing of the Director's loan notes. As stated in note 2, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

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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.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Clive Owen LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw your attention to note 2 in the financial statements, which highlights that the company is undergoing refinancing activities, as well as refinancing of the Director's loan notes. As stated in note 2, these events or conditions indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.”

Group structure

1. EARLSWAY TEESSIDE LIMITED · parent
   1. Earlsway Group Limited 100% · England and Wales · Non trading
   2. Earlsway Solutions Limited 100% · England and Wales · Non trading
   3. Earlsway Holdings Limited 100% · England and Wales · Non trading
   4. FiveDean Limited 100% · England and Wales · Non trading
   5. John Harrison (Stockton) Limited 100% · England and Wales · Packaging manufacturer

Significant events

• “The ongoing trend is to reduce all forms of packaging and carton board will remain a medium of choice in a low carbon economy, particularly in the present 'anti-Plastics' environment. Whilst the focus on sustainable and environmentally friendly packaging continues, the emphasis is now clearly directed at reducing the environmental impact throughout the supply chain and reducing waste overall by improving protection of the product, something Harrison Packaging are very well positioned to take full advantage of.”
• “The UK carton market is dominated by a small number of major players. Harrison Packaging lic in the 'middle ground' of the carton market and with a large customer base over a diverse range of market sectors is strategically well positioned and able to respond to ever-changing market conditions.”
• “The Harrison Packaging commitment to remaining a value adding producer over many years, whilst maintaining high levels of customer service will continue to give the business opportunities to press on with the strategy of diversification, added value growth and brand strengthening. The business remains committed to increasing returns and to reduce its exposure to lower added value work where and when appropriate.”
• “Harrison Packaging is committed to ensuring that it has a highly skilled, experienced and motivated workforce delivering high levels of customer service. To ensure this remains sustainable, it will continue to attract the best talent and develop the workforce with the aim of delighting customers with further added value.”
• “The group takes the health, safety and wellbeing of all its employees very seriously and will remain compliant with all Employment, Health and Safety legislation.”
• “The main aims of the group are to continue to implement plans and initiatives that develop the Ilarrison Packaging business, improve sales, improve operations, reduce the cost base and continue as a privately owned group. This ongoing process of strategic review and continuous improvement will ensure that Harrison Packaging continues to progress and develop in the future. The business is well placed to capitalise on continually challenging and ever-changing market conditions.”

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

1

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.