DURHAM MORTGAGES A PLC

• ⚠

  Material uncertainty over going concern

  However, the directors believe there is a material uncertainty regarding the Company's ability to continue as a going concern due to the impact of the Portfolio Purchase Option (as defined in the transaction documents) which becomes exercisable after the Optional Redemption Date on the Interest Payment Date in February 2027.

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

  -2.8%

  £93,954,734 → £91,329,207

• Net assets

  -14%

  £14,208,878 → £12,212,851

• Employees

  —

  Not reported

• Profit before tax

  +90.9%

  -£21,943,870 → -£1,995,027

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

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, the directors believe there is a material uncertainty regarding the Company's ability to continue as a going concern due to the impact of the Portfolio Purchase Option (as defined in the transaction documents) which becomes exercisable after the Optional Redemption Date on the Interest Payment Date in February 2027.”

Significant events

• “On 19 February 2021 (the "First Refinancing Date"), the Refinancing Option was exercised and the Company was refinanced; the Original Notes were redeemed, and the Company issued new residential mortgage-backed notes.”
• “On 27 February 2024 (the "Second Refinancing Date"), the Refinancing Option was once again exercised; the Refinanced Notes were redeemed, and the Company issued new residential mortgage-backed notes.”
• “The key future developments which the directors expect to have the greatest impact on the Company, due to their impact on the performance of the Mortgage Loans (in particular, future cash flows, default rates and collateral values), relate to pressures resulting from uncertainty and changes in the macroeconomic environment.”

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

Filings

2

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.