MEDWAY DEVELOPMENT COMPANY 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

  -63.2%

  £23,968,347 → £8,814,601

• Cash

  -47.6%

  £1,205,127 → £631,186

• Net assets

  -191.2%

  -£4,865,460 → -£14,167,932

  lowest in 6 filed years

• Employees

  +16.7%

  12 → 14

  highest in 6 filed years

• Operating profit

  -65.6%

  -£4,592,206 → -£7,606,963

  lowest in 3 filed years

• Profit before tax

  -153.9%

  -£3,664,520 → -£9,302,472

• Wages

  -7.9%

  £728,580 → £670,759

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

Consolidated group

Auditor

Kreston Reeves Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. MEDWAY DEVELOPMENT COMPANY LIMITED · parent
   1. Medway Development Company (Land & Projects) Limited 100% · England and Wales
   2. Medway Development Company (PRS) Limited 100% · England and Wales
   3. Medway Development Company (New Homes) Limited 100% · England and Wales

Significant events

• “Planning permission achieved for 734 homes.”
• “311 homes delivered on brownfield sites, helping to support local economies.”
• “£32.9m grant subsidy secured through partnership working with the Council.”
• “Job creation through construction, including apprenticeship training.”
• “High quality 'Place Making' delivered alongside commercial uses to activate areas.”
• “Generation of long-term revenue streams through interest repayments, business rates, commercial rents and private rental income.”
• “The Group continued to progress its development pipeline whilst increasing its occupancy across its rental portfolio and meeting its business plan objectives.”
• “The strategic shift towards retaining homes for rent realised lower receipts in-year, however, it should be recognised that long term revenue streams generated will provide a growing and substantial revenue stream for the Group.”
• “During the year, 311 homes were completed and a further 385 homes remained in planning or pre-development stages.”
• “Currently the Group has two strategic projects in construction: Mountbatten House and Strood Civic. Collectively the grant secured on these schemes is £14.1m”

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

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

2

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.