STRIKE LIMITED

• ⚠

  Material uncertainty over going concern

  The group has continued to make significant losses throughout the period ended 31 March 2024 and up to the date of signing of these financial statements. Such losses have been supported by further shareholder funding. As of 31 March 2024, the company had borrowings of £50.4m. A significant shareholder has confirmed that they will continue to support the company and the group for the foreseeable future and the shareholders have collectively confirmed they will not demand repayment of their loans to the company for at least a period of 12 months from the date of approval of these financial statements. The forecasts are subject to external market trends, the company's operational execution and the long-term availability of future funding. In light of such risks, there is a material uncertainty that may cast significant doubt on the company's and the group's ability to continue as a going concern. Notwithstanding this material uncertainty, the directors remain confident in the strategy, future direction, and long-term plans of the business. The directors therefore have a reasonable expectation that the company and 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 in preparing these financial statements.

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

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

  +135.4%

  £13,226,522 → £31,132,139

• Cash

  +87.6%

  £821,391 → £1,540,883

• Net assets

  -193.6%

  -£19,522,153 → -£57,326,208

• Employees

  +111.7%

  462 → 978

• Operating profit

  -80.8%

  -£18,436,954 → -£33,330,118

• Profit before tax

  -94.3%

  -£19,457,955 → -£37,804,055

• Wages

  +88.4%

  £16,519,304 → £31,124,873

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.

1. STRIKE LIMITED 2021-01-26 → present
2. HOUSESIMPLE LIMITED 2011-05-05 → 2021-01-26

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

HW Fisher Audit

Audit opinion

Qualified

Going concern

Material uncertainty disclosed

“The group has continued to make significant losses throughout the period ended 31 March 2024 and up to the date of signing of these financial statements. Such losses have been supported by further shareholder funding. As of 31 March 2024, the company had borrowings of £50.4m. A significant shareholder has confirmed that they will continue to support the company and the group for the foreseeable future and the shareholders have collectively confirmed they will not demand repayment of their loans to the company for at least a period of 12 months from the date of approval of these financial statements. The forecasts are subject to external market trends, the company's operational execution and the long-term availability of future funding. In light of such risks, there is a material uncertainty that may cast significant doubt on the company's and the group's ability to continue as a going concern. Notwithstanding this material uncertainty, the directors remain confident in the strategy, future direction, and long-term plans of the business. The directors therefore have a reasonable expectation that the company and 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 in preparing these financial statements.”

Group structure

1. STRIKE LIMITED · parent
   1. Purplebricks Property Limited 100% · England and Wales
   2. Purplebricks Mortgages Limited 100% · England and Wales
   3. Housesimple Limited 100% · England and Wales
   4. Strike Financial Services Limited 100% · England and Wales

Significant events

• “Subsequent to year end and through date of approval of these financial statements, the group and company received a total of £29.74m in additional loans from investors. The loans bear the same terms and conditions as previous loans as disclosed in note 18. In March 2025, the directors approved the allotment of up to 5,000 Ordinary Shares at a price of £20 per share. In August 2025, the directors approved the allotment of a further 2,500 Ordinary Shares at a price of £20 per share. Following these authorisations, and prior to the date of the approval of these financial statements, 522,500 Ordinary Shares of £0.01 were issued to Sir Charles William Dunstone, a majority shareholder, for cash consideration of £20 per share.”

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

Filings

20

last 12 months

Capital events

11

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.