PENDLETON TOGETHER OPERATING LIMITED

• ⚠

  Material uncertainty over going concern

  At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The company is committed to completing the further works programme using the above approved funding, however, should there be cost overruns the company would have to fund from internal balances or elsewhere within the Group. These conditions indicate the existence of a material uncertainty which may cast doubt about the Company's ability to continue as a going concern. The financial statements do not include the adjustments the would result if the Company was unable to continue as a going concern.

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)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The company is committed to completing the further works programme using the above approved funding, however, should there be cost overruns the company would have to fund from internal balances or elsewhere within the Group. These conditions indicate the existence of a material uncertainty which may cast doubt about the Company's ability to continue as a going concern. The financial statements do not include the adjustments the would result if the Company was unable to continue as a going concern.”

Significant events

• “Following the tragic events at Grenfell a comprehensive review of the refurbishment works was undertaken to establish the condition of the tower blocks. Subsequently, a detailed further works programme has been implemented with the involvement of all stakeholders to ensure the safety of all residents. This has now been fully costed and enables a new financial model to be established.”
• “On 14 June 2017 the Grenfell Tower tragedy took place. A catastrophic fire broke out and resulted in considerable loss of life with the external cladding system being criticised. PTOL and SCC acted quickly to identify any similarities between the situation at Grenfell and the nine blocks in Salford. Extensive technical due diligence work was conducted on the external cladding system and as a result it was concluded that the newly fitted cladding system should be replaced.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

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

  +20.9%

  £4,691,000 → £5,673,000

• Cash

  -27.6%

  £15,342,000 → £11,113,000

• Net assets

  0%

  -£96,198,000 → -£96,235,000

• Employees

  —

  Not reported

• Operating profit

  +91.2%

  -£17,356,000 → -£1,527,000

• Profit before tax

  +81.3%

  -£18,018,000 → -£3,362,000

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