SIMPLY AFFORDABLE HOMES LLP

• ⚠

  Material uncertainty over going concern

  Savills Investment Management Group ("the Group") has concluded that the LLP structure is no longer needed and two Members have left the LLP since the year end. The LLP is expected to be liquidated once the partnership interest of the remaining Member has been acquired and any ongoing contracts have been transferred. This is expected to be completed within the next twelve months. As such, these financial statements have been prepared on an 'other than a going concern' basis. Under this basis of preparation, all assets have been classified as current and are stated at their recoverable amounts, and all liabilities have been classified as falling due within one year. Should for whatever reason the LLP not be able to meet its expenses, Savills plc, the ultimate parent company, has provided a letter of support that it will make available such funds as are needed by the LLP, for a period of 12 months from the date of approval of the LLP's Statement of Financial Position for the year ended 31 December 2024.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. SIMPLY AFFORDABLE HOMES LLP 2022-09-14 → present
2. AFFORDABLE ACCOMMODATION INVESTMENT MANAGEMENT LLP 2019-01-29 → 2022-09-14

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 101

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Savills Investment Management Group ("the Group") has concluded that the LLP structure is no longer needed and two Members have left the LLP since the year end. The LLP is expected to be liquidated once the partnership interest of the remaining Member has been acquired and any ongoing contracts have been transferred. This is expected to be completed within the next twelve months. As such, these financial statements have been prepared on an 'other than a going concern' basis. Under this basis of preparation, all assets have been classified as current and are stated at their recoverable amounts, and all liabilities have been classified as falling due within one year. Should for whatever reason the LLP not be able to meet its expenses, Savills plc, the ultimate parent company, has provided a letter of support that it will make available such funds as are needed by the LLP, for a period of 12 months from the date of approval of the LLP's Statement of Financial Position for the year ended 31 December 2024.”

Significant events

• “The LLP has generated revenues in 2024 following the launch of Savills IM Simply Affordable Homes Fund in March 2024 and the first deployment of capital in October 2024.”
• “Subsequent to the balance sheet date, Jonathan Clarke and Centrus Investment Management Limited transferred their partnership interests to the remaining corporate Designated Member, Savills IM Holdings Limited under a Membership Interest Purchase Agreement.”
• “The LLP is expected to be liquidated once the partnership interest of the remaining Member has been acquired and any ongoing contracts have been transferred. This is expected to be completed within the next twelve months.”
• “It is the intention of the Members that the partnership interest of the remaining Member, Dominic Curtis, will also be acquired in a future transaction, after which Savills IM Holdings Limited will hold 100% of the Members' interests.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  —

  Not reported

• Cash

  -40.2%

  £61,802 → £36,941

• Net assets

  -84.6%

  -£1,990,845 → -£3,675,779

• Employees

  0%

  2 → 2

• Operating profit

  -24.6%

  -£981,498 → -£1,222,761

• Profit before tax

  -32.8%

  -£1,038,669 → -£1,379,198

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