PIERPONT BTL 2023-1 PLC
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Next accounts due
2026-06-30 (in 1mo)
Last filed for 2024-12-31
Confirmation statement due
2026-06-15 (in 1mo)
Last made up 2025-06-01
Watchouts
Cash
£6M
Latest balance sheet
Net assets
-£238K
Equity attributable
Employees
0
Average over period
Profit before tax
£5M
Period ending 2024-12-31
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
However, the directors believe there to be a material uncertainty over the going concern of the Company due to the impact of the optional redemption date and Call Option (as defined in the transaction documents). This is because on or after 21 September 2026 the person or an entity representing the person (or persons in aggregate) who is the holder of more than 50 per cent of the Certificates (the "Option Holder") may exercise the Call Option. The exercise of this option is not within the control of the Company. If the Call Option is exercised, the Company would be required to sell and transfer the Mortgage Loans to the Option Holder at the Optional Purchase Price (as defined in the transaction documents). The Notes would then be paid off using the proceeds of the sale of the Mortgage Loans and the Company would cease trading. However, if this option is not exercised, the directors have no intention to cease trading and there is a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements. Although there is no legal obligation or confirmed intention to exercise the Call Option at this stage, the directors currently consider there to be an equal likelihood of the option being exercised and of it not being exercised. Consequently, the directors are of the opinion that this indicates the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern.
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | — | — | |
| Profit before tax | -£5,551,109 | £5,301,120 | |
| Net profit | -£5,551,259 | £5,300,820 | |
| Cash | £5,630,164 | £6,045,353 | |
| Total assets less current liabilities | £225,486,907 | £211,233,252 | |
| Net assets | -£5,538,758 | -£237,938 | |
| Equity | -£5,538,758 | -£237,938 | |
| Average employees | 0 | 0 | |
| Wages | — | — | |
| Directors' remuneration | £0 | £0 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Gearing (liabilities / total assets) | 102.2% | 100.1% | |
| Current ratio | 1.08x | 1.11x |
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.
Audit & accounting basis
- 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 to be a material uncertainty over the going concern of the Company due to the impact of the optional redemption date and Call Option (as defined in the transaction documents). This is because on or after 21 September 2026 the person or an entity representing the person (or persons in aggregate) who is the holder of more than 50 per cent of the Certificates (the "Option Holder") may exercise the Call Option. The exercise of this option is not within the control of the Company. If the Call Option is exercised, the Company would be required to sell and transfer the Mortgage Loans to the Option Holder at the Optional Purchase Price (as defined in the transaction documents). The Notes would then be paid off using the proceeds of the sale of the Mortgage Loans and the Company would cease trading. However, if this option is not exercised, the directors have no intention to cease trading and there is a reasonable expectation that the Company has adequate resources to continue in operational existence for at least twelve months from the date of approval of the financial statements. Although there is no legal obligation or confirmed intention to exercise the Call Option at this stage, the directors currently consider there to be an equal likelihood of the option being exercised and of it not being exercised. Consequently, the directors are of the opinion that this indicates the existence of a material uncertainty which may cast significant doubt about the Company's ability to continue as a going concern. The financial statements do not include the adjustments that would result if the Company were unable to continue as a going concern.”
Significant events
- “There have been no significant events affecting the Company since year end.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CSC CORPORATE SERVICES (UK) LIMITED | Corporate Secretary | 2023-03-14 | — | — |
| PARSALL, Debra Amy | Director | 2023-03-14 | Oct 1981 | British |
| CSC DIRECTORS (NO.1) LIMITED | Corporate Director | 2023-03-14 | — | — |
| CSC DIRECTORS (NO.2) LIMITED | Corporate Director | 2023-03-14 | — | — |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Pierpont Btl 2023-1 Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-03-14 | Active |
Filing timeline
Last 12 of 12 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-07-23 | AA | accounts | Accounts with accounts type full | |
| 2025-06-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-17 | AA | accounts | Accounts with accounts type full | |
| 2024-06-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-06-01 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-05-25 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-05-15 | SH01 | capital | Capital allotment shares | |
| 2023-04-24 | AA01 | accounts | Change account reference date company current shortened | |
| 2023-04-12 | CERT8A | incorporation | Legacy | |
| 2023-04-12 | SH50 | reregistration | Application trading certificate | |
| 2023-03-14 | NEWINC | incorporation | Incorporation company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.