SILVERBACK TEA COMPANY LIMITED

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  Material uncertainty over going concern

  We draw attention to note 2.3 to the financial statements, which explains that, following the post year-end disposal of its three trading subsidiaries, the directors intend to wind up the parent company, Silverback Tea Company Limited. As a result, the parent company's individual financial statements have been prepared on a non-going concern basis. Our opinion is not modified in respect of this matter. The directors have considered the position of the three trading subsidiaries and are satisfied all three continue to trade well and are expected to meet all obligations as they fall due, accordingly the directors consider all three subsidiaries to be a going concern.

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  Going-concern uncertainty disclosed

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  Negative shareholders' funds

Figures converted to GBP from USD at 0.749 per USD (Frankfurter spot rate) — hover any figure for the original. — 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. SILVERBACK TEA COMPANY LIMITED 2020-01-09 → present
2. RWANDA TEA INVESTMENTS LIMITED 2019-02-18 → 2020-01-09

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Anderson Anderson & Brown Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.3 to the financial statements, which explains that, following the post year-end disposal of its three trading subsidiaries, the directors intend to wind up the parent company, Silverback Tea Company Limited. As a result, the parent company's individual financial statements have been prepared on a non-going concern basis. Our opinion is not modified in respect of this matter. The directors have considered the position of the three trading subsidiaries and are satisfied all three continue to trade well and are expected to meet all obligations as they fall due, accordingly the directors consider all three subsidiaries to be a going concern.”

Group structure

1. SILVERBACK TEA COMPANY LIMITED · parent
   1. Pfunda Tea Company Limited 90% · Rwanda
   2. Gisovu Tea Company Limited 60% · Rwanda
   3. Rugabano Tea Company Pvt Limited 100% · Rwanda

Significant events

• “Since the year end the company disposed of its three subsidiary companies as part of a group reorganisation. The intention is for the company to cease trading once all liabilities are settled in full.”
• “Following the group reorganisation the company's operations have significantly reduced and the intention is to cease trading once all liabilities are settled in full.”

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

Filings

1

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.