IMAGINE MORTGAGES LIMITED

• ⚠

  Material uncertainty over going concern

  As a consequence of the circumstances described, the directors conclude that there is a material uncertainty which may cast significant doubt about the Group and Company's ability to continue as a going concern. The financial statements do not include any adjustments that would be necessary if the going concern basis of preparation were to be withdrawn.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

S&W Partners Audit Limited

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As a consequence of the circumstances described, the directors conclude that there is a material uncertainty which may cast significant doubt about the Group and Company's ability to continue as a going concern. The financial statements do not include any adjustments that would be necessary if the going concern basis of preparation were to be withdrawn.”

Group structure

1. IMAGINE MORTGAGES LIMITED · parent
   1. Groupladder Technologies Limited 100% · UK · Business and domestic software development
   2. Generation Home Legal Limited 100% · UK · Residential conveyancing

Significant events

• “On 4 March 2024 the company raised £5,500,000 of funds from both existing and new investors via the issue of a convertible loan note instrument (CLN).”
• “As part of this operational restructure, the Group reduced headcount by c. 20% and moved office thereby incurring one-off additional costs which increased administrative expenses for the year.”
• “During Q1 2024 the company breached its regulatory capital requirements as set out by the FCA. The breach occurred due to restrictions on the proportion of the CLN funding that could be included in the capital base of the Group. The breach was raised with the FCA and was resolved in February 2025 when the CLN converted to Series B Preferred Shares.”
• “In December 2024 the Group executed its second forward flow facility with a UK building society.”
• “On 10 February 2025 the convertible loan note of £5,500,000 plus accrued interest totalling £493,014 was converted into 9,560,215 B preferred shares.”

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

Filings

15

last 12 months

Capital events

13

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.