PENNYFARTHING CONSTRUCTION LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

• Turnover

  +30.1%

  £25,650,359 → £33,359,882

  highest in 3 filed years

• Cash

  +1,606.7%

  £44,191 → £754,204

• Net assets

  +18.4%

  £1,597,497 → £1,891,741

  highest in 5 filed years

• Employees

  +1.4%

  70 → 71

• Operating profit

  +63.3%

  £188,857 → £308,485

  highest in 3 filed years

• Profit before tax

  +66.5%

  £176,730 → £294,244

  highest in 5 filed years

• Wages

  -1.2%

  £3,285,390 → £3,245,535

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. 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

Standalone (parent only)

Auditor

HJS (Reading) Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The board have considered the prospects of the company and have taken into account its current financial position and its principal risks. Fundamentally, these arise from the deterioration of the health of the UK economy, brought about by uncertainty, loss of consumer confidence, higher interest rates and increasing unemployment, leading to decreased affordability, reducing demand for housing, and falling house prices.”

Significant events

• “Continued challenging market conditions and tabloid rhetoric has made buyers cautious. Sales activity remained uncertain owing to a lack of mortgage availability and affordability.”
• “House builders tussle with rising labour and material costs plus increasing red tape.”
• “Competition amongst Developers and demand amongst existing homeowners remained challenging with those opting to purchase requiring elevated levels of sales incentives and increased use of enablers such as Part exchange or Assisted Move to secure a sale.”
• “Given the volatility of the market resulting in a low number of sales, stock holding costs coupled with high finance costs have played a major part in the profitability of the group.”
• “Historic supply chain issues resulting in higher material and sub-contract labour costs continue. Price inflation continues to hit the industry.”
• “Planning consents remain challenging with local authorities struggling with resource constraints.”
• “Since 2022, borrowing rates have been rising markedly and have a significant impact on the company as funding costs become more expensive making development project less profitable or in some cases unviable.”
• “Material cost inflation and supply have seen prices escalate in recent years with the advent of a number of global factors causing economic volatility and demand. Prices are starting to stabilize although we are not seeing any evidence yet of a reduction in prices.”
• “An aging construction workforce, coupled with decreasing apprenticeship intake and the Brexit leakages, are potentially leading to skills shortages of workers.”
• “Local Authorities often insist on Property Developer entering into bond agreements to de-risk their exposure for any unfinished construction activity if a developer defaults. This is becoming increasingly onerous particularly for SME developers.”

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

Filings

3

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.