FAIRHOLD HOMES (NO.2) LIMITED

• ⚠

  Material uncertainty over going concern

  We draw attention to the going concern note included in accounting policies in these financial statements, which indicates that the company has debts due for repayment within 12 months of the balance sheet date. This relates to Senior Secured Notes ("SSNs") maturing in October 2026. The directors note that, in the absence of a solvent solution being enacted, the company would not be able to repay the debts at maturity in October 2026. This gives rise to a material uncertainty which may cast significant doubt over the company's ability to continue as a going concern.

1. FAIRHOLD HOMES (NO.2) LIMITED 1999-12-08 → present
2. MCCARTHY & STONE HOUSING LIMITED 1997-07-09 → 1999-12-08
3. SPEED 6399 LIMITED 1997-06-17 → 1997-07-09

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 102

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to the going concern note included in accounting policies in these financial statements, which indicates that the company has debts due for repayment within 12 months of the balance sheet date. This relates to Senior Secured Notes ("SSNs") maturing in October 2026. The directors note that, in the absence of a solvent solution being enacted, the company would not be able to repay the debts at maturity in October 2026. This gives rise to a material uncertainty which may cast significant doubt over the company's ability to continue as a going concern.”

Significant events

• “Long-term interest rates increased slightly at year end compared to year-end 2024 and have since increased further, despite short term rates falling. Should the current level continue, or further increases occur, this will negatively impact the company's valuation of its portfolio.”
• “In January 2026, the government published the Commonhold and Leasehold Reform Bill ("CLRB"). Within this, amongst other things, the government has proposed to introduce a cap of £250 pa on ground rents, effective from 2028, with no inflation thereafter until moving ground rents to a peppercorn (i.e. zero) in 2068.”
• “The outcome of an appeal hearing sought by six litigating freeholders to the legality of LAFRA is outstanding. Should this appeal be allowed, and subsequently be successful, it is possible that this would have an impact on the application of LAFRA and potentially the 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.

• Turnover

  +1.3%

  £1,760,782 → £1,783,826

• Cash

  —

  Not reported

• Net assets

  -76.1%

  £5,593,817 → £1,337,156

• Employees

  —

  Not reported

• Operating profit

  +1.4%

  £2,080,993 → £2,110,719

• Profit before tax

  -187%

  £5,348,453 → -£4,654,100

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