AVANT HOMES (ENGLAND) LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to note 2.3 to the financial statements which indicates that the Company's ability to continue as a going concern is dependent on: The Viva Midco Limited Group agreeing further extension of revolving credit facility with third party lenders. This includes covenant principle amendments. Successful resolution with Ministry of Housing, Communities and Local Government (MHCLG) and agreement of a payment plan for reimbursements to the building safety fund with the Viva Midco Limited Group. The ability of management of the Viva Midco Limited Group to execute mitigating actions, including a reduction in land spend on new sites and disposal of non-core land assets, to successfully manage cash flows in the event of adverse conditions. These events and conditions, along with the other matters explained in note 2.3, constitute a material uncertainty that may cast significant doubt on the group's and the parent company's ability to continue as a going concern. The above material uncertainties may cast significant doubt on the Group's and the Company's ability to continue as a going concern and, therefore, may be unable to realise their assets and discharge their liabilities in the normal course of business.

1. AVANT HOMES (ENGLAND) LIMITED 2015-10-26 → present
2. GLADEDALE (SOUTH YORKSHIRE) LIMITED 2007-09-05 → 2015-10-26
3. BEN BAILEY HOMES LIMITED 1972-02-23 → 2007-09-05

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

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 101

Reporting scope

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2.3 to the financial statements which indicates that the Company's ability to continue as a going concern is dependent on: The Viva Midco Limited Group agreeing further extension of revolving credit facility with third party lenders. This includes covenant principle amendments. Successful resolution with Ministry of Housing, Communities and Local Government (MHCLG) and agreement of a payment plan for reimbursements to the building safety fund with the Viva Midco Limited Group. The ability of management of the Viva Midco Limited Group to execute mitigating actions, including a reduction in land spend on new sites and disposal of non-core land assets, to successfully manage cash flows in the event of adverse conditions. These events and conditions, along with the other matters explained in note 2.3, constitute a material uncertainty that may cast significant doubt on the group's and the parent company's ability to continue as a going concern. The above material uncertainties may cast significant doubt on the Group's and the Company's ability to continue as a going concern and, therefore, may be unable to realise their assets and discharge their liabilities in the normal course of business.”

Group structure

1. AVANT HOMES (ENGLAND) LIMITED · parent
   1. Avant Homes (Yorkshire) Limited 100% · UK · Dormant
   2. Avant Homes (Sunderland) Limited 100% · UK · Dormant
   3. Cavendish Park (2017) Limited 100% · UK · Dormant

Significant events

• “The Company's 2024 performance continued to be impacted by the challenges faced by the UK housing sector as a whole. Increases to interest rates coupled with wider cost of living challenges impacted demand amongst our private customers, whilst the timing and cost of obtaining implementable planning permissions continues to be a constraint on the industry.”
• “The election of a new Westminster government in July 2024 with housing policies intended to increase the supply of new homes plans through planning reform provides a platform for optimism in the UK housing market.”

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

Filings

14

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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.

• Turnover

  -0.9%

  £393,069,000 → £389,506,000

• Cash

  +148.2%

  £11,399,000 → £28,290,000

• Net assets

  -9.9%

  £267,532,000 → £241,112,000

• Employees

  +2.9%

  413 → 425

• Operating profit

  -100.5%

  £29,573,000 → -£157,000

• Profit before tax

  -108.8%

  £42,843,000 → -£3,749,000

• Wages

  +1.2%

  £23,280,000 → £23,566,000

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