PAGAC URBAN HOLDING (UK) LTD

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

IFRS

Reporting scope

Consolidated group

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The consolidated financial statements for the year ended 31 December 2024 have been prepared on a going concern basis. The Board have considered the following to reach this conclusion: The Group reported a profit of $17.1m for the year and generated operating cash inflows of $21.8m. The Group's Net current liabilities at 31 December 2024 are $54m, including cash and cash equivalents of $31.1m. Following the year end, the Group successfully restructured $31.3 million of current debt to non-current, extending the term into 2027. Refer to Note 20 for further details. The Directors note that deferred consideration is underwritten by an Equity Commitment Letter, as it relates to the original acquisition of Unispace by the current shareholders. Refer to Note 30 for further details. The Group does not currently have any external debt. Based on this analysis, the Directors are satisfied that the Group has adequate resources to continue in operational existence for the foreseeable future and will remain a going concern for at least 12 months from the date of signing the financial statements.”

Group structure

1. PAGAC URBAN HOLDING (UK) LTD · parent
   1. PAGAC Urban II (Australia) Pty Ltd 100% · Australia
   2. PAGAC Urban I (Australia) Pty Ltd 100% · Australia
   3. Unispace Global Pty Ltd 100% · Australia
   4. Unispace Limited 100% · New Zealand
   5. Unispaceglobal India Private Limited 100% · India
   6. Unispace Singapore Pte Ltd 100% · Singapore
   7. Unispace Hong Kong Pty Limited 100% · Hong Kong
   8. Unispace Global Malaysia Sdn. BHD 100% · Malaysia
   9. Unispace Global Limited 100% · United Kingdom
   10. Unispace Global Limited* 100% · Ireland
   11. Unispace Global France SASU 100% · France
   12. Unispace Global GmBH 100% · Germany
   13. Unispace BV 100% · Netherlands
   14. Unispace Global SL 100% · Spain
   15. Unispace Global Ltd. 100% · Switzerland
   16. Unispace Global SRL 100% · Italy
   17. PAGAC Urban II (US), LLC 100% · United States
   18. PAGAC Urban I (US), LLC 100% · United States
   19. Unispace of North America Inc 100% · United States
   20. Unispace Peru SAC 100% · Peru
   21. Unispace De Mexico 100% · Mexico
   22. Unispace Chile SpA 100% · Chile
   23. Unispace Colombia SAS 100% · Columbia
   24. Unispace Contracting Inc 100% · United States
   25. Unispace Brazil 100% · Brazil
   26. Unispace of Boston, LLC 100% · United States
   27. Unispace MN, LLC 100% · United States
   28. Unispace of Los Angeles, LLC 100% · United States
   29. Unispace of New York, LLC 100% · United States
   30. Unispace of Columbus, LLC 100% · United States
   31. Unispace of Seattle, LLC 100% · United States
   32. Unispace 2, LLC 100% · United States
   33. Downstream LLC 100% · United States
   34. Downstream International, Inc 100% · United States
   35. Downstream Amsterdam B.V. 100% · Netherlands
   36. Downstream Melbourne Pty Ltd 100% · Australia
   37. BioPharma Engineering Limited 100% · Ireland
   38. Bulb Interiors Limited 100% · United Kingdom
   39. G.A. Group Holdings Limited 100% · United Kingdom
   40. G.A. Brand Design Limited 100% · United Kingdom
   41. G.A. Design International Limited 100% · United Kingdom
   42. G.A. Destination Architecture Limited 100% · United Kingdom
   43. Engage Design Services Limited 100% · United Kingdom
   44. G.A. Design International Service kfT 100% · Hungary
   45. G.A. Design International Sdn. Bhd. 100% · Malaysia
   46. G.A. Brand Design Sdn. Bhd. 100% · Malaysia
   47. G.A. Design Malaysia Sdn. Bhd. 100% · Malaysia
   48. G.A. Design Asia Co. Ltd 100% · Hong Kong
   49. G.A. Design International (Shanghai) Ltd 100% · China
   50. G.A. Group Holdings USA Inc. 100% · United States
   51. Engage Design Consultant (Shanghai) Ltd 100% · China

Significant events

• “The Group recognised $9.9 million (2023 - $4.7million) of exceptional items during the year.”
• “Restructuring Costs - Associated with streamlining operations and integrating acquired entities.”
• “Deferred Capital Payments - Related to prior acquisition agreements and settled during the year, impacting cash flow.”
• “Integration Expenses - Costs incurred in aligning systems, teams, and processes following the GA and Bulb acquisitions.”
• “These items are non-recurring and reflect strategic investments aimed at long-term efficiency and growth.”
• “On 14 February 2025, PAGAC Urban Holding (Singapore) Pte. Ltd and PAGAC Urban Holding (UK) Ltd agreed to extend the repayment of their intercompany loan to 6 August 2025. Subsequently, on 16 June 2025, both parties agreed to further extend the repayment date to 1 January 2027.”
• “On 7 August 2025, PAG Asia III LP (The Parent), settled the full deferred consideration liability, on behalf of its subsidiaries PAGAC Urban Holding (UK) Limited, PAGAC Urban I (US) LLC and PAGAC Urban I (Australia) Pty Ltd.”

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

1

last 24 months

Officers appointed

2

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

  +37.9%

  £236,190,511 → £325,605,634

• Cash

  +44.1%

  £15,971,090 → £23,022,239

• Net assets

  +98.2%

  -£31,489,251 → -£568,569

• Employees

  +18.5%

  638 → 756

• Operating profit

  +177.9%

  -£10,378,058 → £8,085,248

• Profit before tax

  +150.9%

  -£14,441,809 → £7,358,043

• Wages

  +14.9%

  £60,647,887 → £69,685,693

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