ASPEN FINANCE LIMITED

• ⚠

  Annual accounts overdue

  Due 2025-09-30.

• ⚠

  Material uncertainty over going concern

  In conclusion, forecasts show that the Group and Parent Company will require additional funding over the course of the going concern period to 30 June 2025. The Group and Parent Company would need to seek alternative sources of funding to meet its cash requirements. There are a number of loan facilities that fall due for repayment within the going concern period and will need to be repaid from sales proceeds, extended or refinanced. In addition there are plans to sell some land which will repay the related borrowing and provide additional working capital. Additional funding may also be required and there are currently no formal agreements in place indicating that a material uncertainty exists which may cast significant doubt on the Group's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.

• ◆

  Audit opinion: Adverse

  Latest auditor's report carried a non-clean opinion.

1. ASPEN FINANCE LIMITED 2002-05-15 → present
2. CONTINENTAL SHELF 220 LIMITED 2002-01-03 → 2002-05-15

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

Consolidated group

Auditor

BDO LLP

Audit opinion

Adverse

Going concern

Material uncertainty disclosed

“In conclusion, forecasts show that the Group and Parent Company will require additional funding over the course of the going concern period to 30 June 2025. The Group and Parent Company would need to seek alternative sources of funding to meet its cash requirements. There are a number of loan facilities that fall due for repayment within the going concern period and will need to be repaid from sales proceeds, extended or refinanced. In addition there are plans to sell some land which will repay the related borrowing and provide additional working capital. Additional funding may also be required and there are currently no formal agreements in place indicating that a material uncertainty exists which may cast significant doubt on the Group's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.”

Group structure

1. ASPEN FINANCE LIMITED · parent
   1. Artisan (UK) Developments Limited · England and Wales · Property development
   2. Artisan (UK) Projects Limited · England and Wales · Building construction
   3. Rippon Homes Limited · England and Wales · House building and development
   4. Rippon Homes BLG Limited · England and Wales · House building and development
   5. Rippon Homes Welton Limited · England and Wales · House building and development
   6. Rippon Homes Heritable Limited · England and Wales · House building and development
   7. Rippon Homes Skegby Limited · England and Wales · House building and development
   8. Rippon Homes Worksop Limited · England and Wales · House building and development
   9. Rippon Homes Old Dalby Limited · England and Wales · House building and development
   10. Artisan (UK) Properties Limited · England and Wales · Property sales and letting
   11. Artisan (UK) Land Limited · England and Wales · Property investment and development
   12. Artisan Contracting Limited · England and Wales · House building and development
   13. Rippon Homes Ruskington Limited · England and Wales · Dormant
   14. Rippon Homes Woodhall Spa LLP 64% · England and Wales · House building and development

Significant events

• “The Group owns land at Wingerworth amounting to circa 40 acres which had a planning permission for the construction of up to 180 homes on just under half the site area. However, the planning permission lapsed during the year as it had not been 'implemented' prior to the deadline set in the permission due to delays in clearing the pre-commencement planning conditions. A new planning application has been made with a view to gaining a new planning permission along similar lines to the permission that lapsed, although there is no guarantee that this will be successful.”
• “Since year end there have been a number of changes in management, particularly at Rippon Homes, where there is now a focus on finishing the developments currently in build, the majority of which should be completed within the going concern period, and reducing the overhead. We are not currently looking to acquire new land within the Group and some current land holdings may be sold rather than developed.”

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.

• Turnover

  +31.9%

  £23,071,094 → £30,432,623

• Cash

  -65.1%

  £1,492,746 → £520,286

• Net assets

  -187.3%

  -£980,866 → -£2,818,288

• Employees

  +1.7%

  59 → 60

• Operating profit

  +55.2%

  -£1,917,350 → -£858,632

• Profit before tax

  +39.9%

  -£2,361,058 → -£1,418,198

• Wages

  +5.4%

  £2,813,970 → £2,966,826

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