PRS OPERATIONS LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

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

  —

  Not reported

• Cash

  +16.3%

  £36,622,950 → £42,598,321

• Net assets

  +16.3%

  £35,086,572 → £40,806,466

• Employees

  —

  Not reported

• Operating profit

  +13.6%

  £4,391,509 → £4,990,581

• Profit before tax

  +16.3%

  £4,919,367 → £5,721,699

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. PRS OPERATIONS LIMITED 2014-12-10 → present
2. PRS LENDING LTD 2014-10-24 → 2014-12-10

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors consider that the Group will continue to trade for at least 12 months from the date of this report by meeting its liabilities as they fall due for payment in cash. On this basis the financial statements have been prepared on the going concern basis.”

Group structure

1. PRS OPERATIONS LIMITED · parent
   1. PRS Finance Plc 100% · United Kingdom · Issuance of debt securities and on-lending the proceeds to approved Borrowers for the delivery of purpose-built and private rented developments

Significant events

• “On 7 March 2025, the Scheme was re-opened by the MHCLG to allow further applications up until February 2028 with the option to extend to February 2030.”
• “On 10 December 2025, the Subsidiary raised further funding by issuing tranches of floating rate secured notes due to mature in 2030.”
• “On 31 March 2026, The Manager announced a long-term strategic partnership with a subsidiary of Universities Superannuation Scheme Limited ("USS"), USS will acquire a majority interest in the Manager, acting as a long-term, patient capital provider. Subject to regulatory approvals, the transaction is expected to complete in the second quarter of 2026.”
• “Upon completion, this transaction would constitute a Change of Control under the terms of the Licence Agreement, pursuant to which the Guarantor would have a contractual right to terminate the licence. However, the Guarantor has confirmed, by way of a signed waiver dated 30 March 2026, that it will not exercise this right and has therefore irrevocably waived its entitlement to do so.”

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

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

3

last 12 months

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