FERNANDO SSN PLC

• ⚠

  Material uncertainty over going concern

  The directors note that the SSNs mature in October 2026. Given the uncertainty of leasehold reform and the state of the financial markets... This gives rise to a material uncertainty which may cast significant doubt over the company's ability to continue as a going concern. The directors have prepared the accounts on a going-concern basis taking into consideration that they continue to pursue solvent options.

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

  —

  Not reported

• Net assets

  -21,909.9%

  £45,829 → -£9,995,263

• Employees

  —

  Not reported

• Operating profit

  -302.9%

  £4,951,825 → -£10,044,855

• Profit before tax

  -302.6%

  £4,955,712 → -£10,041,092

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 101

Reporting scope

Standalone (parent only)

Auditor

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors note that the SSNs mature in October 2026. Given the uncertainty of leasehold reform and the state of the financial markets... This gives rise to a material uncertainty which may cast significant doubt over the company's ability to continue as a going concern. The directors have prepared the accounts on a going-concern basis taking into consideration that they continue to pursue solvent options.”

Group structure

1. FERNANDO SSN PLC · parent
   1. Fernando PropCo Holdings Limited 100% · England and Wales · holding company
   2. Fairhold Homes Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   3. Fairhold Homes (No.2) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   4. Fairhold Homes (No.3) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   5. Fairhold Homes (No.4) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   6. Fairhold Homes (No.6) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   7. Fairhold Homes (No.7) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   8. Fairhold Homes (No.9) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   9. Fairhold Homes (No.11) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   10. Fairhold Homes (No.13) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   11. Fairhold Homes (No.14) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   12. Fairhold Homes (No.15) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   13. Littonace HMF Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   14. Littonace HMF No. 2 Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   15. Littonace (No.3) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   16. Littonace (No.4) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   17. Littonace (No.5) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   18. Littonace (No.6) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation
   19. Fairhold Homes (No.5) Limited 100% · England and Wales · property investment, specifically sheltered housing accommodation

Significant events

• “The government has brought the Leasehold and Freehold Reform Act ('LAFRA') into statute. Aspects of this Act are yet to be finalised, viz the setting of capitalisation and deferment rates used in the valuation for enfranchisement. Depending on the progress of these aspects, the cashflows of the indirectly-held, property-holding subsidiaries of the company would be impacted.”
• “The government has also committed to further leasehold reform and was expected to issue a draft bill to this end prior to Christmas 2025 (the Commonhold and Leasehold Reform Bill, 'CLRB'). If enacted, this would have a material impact on the cashflows of the indirectly-held, property-holding subsidiaries of the company, which, in turn, would affect the levels at which the SSN debt could be serviced.”
• “Following the loss in a judicial review of LAFRA by a group of freeholder litigants, the directors understand that an appeal has been lodged. The directors believe that the outcome of this appeal, or subsequent legal action, may have a direct impact on the implementation of LAFRA and CLRB.”

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

Filings

3

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.