PANTHER HOUSE DEVELOPMENTS LIMITED

• ⚠

  Material uncertainty over going concern

  As shown in Note 10, the outstanding loan as at 31 December 2024 was £69,970,968 (2023: £62,068,441) which is due for renewal on 31 December 2025. The directors have advised that the loan will only be extended once the current strategy for the asset is finalised, currently strategies to either sell the asset or develop the asset are being investigated. At the date of signing the financial statements, no agreement on refinancing had been reached. The directors see no reason why the loan would not be refinanced once the strategic review is finalised if the extension is required however there is no guarantee that this will take place therefore there exists a material uncertainty in this regard which is outside of Directors' control. The directors of Panther House Developments Limited, after careful consideration of the matters set out above together with the cash flow requirements of the company from the date of approval of these accounts have concluded that it is appropriate to prepare the financial statements on a going concern basis.

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

  -75.2%

  £46,774 → £11,601

  lowest in 4 filed years

• Net assets

  -16.4%

  -£48,484,100 → -£56,417,544

  lowest in 4 filed years

• Employees

  —

  Not reported

• Operating profit

  +80%

  -£13,277,253 → -£2,659,871

• Profit before tax

  +59.8%

  -£19,736,249 → -£7,933,444

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

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

Auditor

Gerald Edelman LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As shown in Note 10, the outstanding loan as at 31 December 2024 was £69,970,968 (2023: £62,068,441) which is due for renewal on 31 December 2025. The directors have advised that the loan will only be extended once the current strategy for the asset is finalised, currently strategies to either sell the asset or develop the asset are being investigated. At the date of signing the financial statements, no agreement on refinancing had been reached. The directors see no reason why the loan would not be refinanced once the strategic review is finalised if the extension is required however there is no guarantee that this will take place therefore there exists a material uncertainty in this regard which is outside of Directors' control. The directors of Panther House Developments Limited, after careful consideration of the matters set out above together with the cash flow requirements of the company from the date of approval of these accounts have concluded that it is appropriate to prepare the financial statements on a going concern basis.”

Significant events

• “During the year, the development stock has been impaired by £2,568,544 to £15,000,000, including £568,544 representing the in-year spend on the project, to bring the closing value into line with the independent valuation report prepared as at 31 December 2024.”
• “In September 2024 the interest bearing loan with CSRE I International Property III (Luxembourg) Holding S.a r.l was amended, the principle of the loan increased to £61,000,000 and the maturity date has been extended to 31 December 2025. As a result, the loan is presented as a current liability as at 31 December 2024.”
• “In April 2025 £427,850 was drawn down from the facility with CSRE I International Property III (Luxembourg) Holding S.a r.l. There were further drawdowns on 5 June 2025 and 12 August 2025 of £95,642 and £228,200 respectively.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

2

last 12 months

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