Registered number: 06362844
For the year ended 31 January 2026
Pentland Homes (Holdings) Limited
Company Information
Pentland Homes (Holdings) Limited
Contents
Pentland Homes (Holdings) Limited
Group strategic report
For the year ended 31 January 2026
The directors present their strategic report for the year ended 31 January 2026.
The principal activity of the Group is the development and construction of high-quality residential housing across Kent and the South East of England, with expansion continuing westwards from the Group’s traditional East Kent base.
The Group delivered a strong performance during the year despite continued challenges across the UK housing market. Revenue increased by 9% to £36.1m whilst profit before tax increased by 28% to £1.7m, reflecting disciplined operational management, continued demand across the Group’s developments and careful cost control.
Trading conditions across the sector remained challenging during much of the year due to elevated interest rates, affordability pressures and ongoing planning delays. Encouragingly, consumer confidence improved progressively towards the latter part of the financial year, supported by moderating inflation and improving mortgage market conditions.
The wider housebuilding sector continues to experience subdued levels of first-time buyer activity, and the Directors believe additional government support measures for the housing market would assist demand and improve affordability.
The Group also continued to experience increased costs arising from changes in building regulations and planning requirements. Heightened geopolitical tensions during the year contributed to some renewed volatility in energy and material markets, although the direct financial impact on the Group remained manageable.
Planning delays continue to present challenges across the sector, with lengthy determination periods impacting the timing of development starts and delaying capital deployment on strategic land opportunities. Whilst the Government has announced further planning reforms, the business has seen limited practical improvement during the year.
During the year the Group commenced two new developments in New Romney comprising 96 units together with the final phase of the Hawkinge retirement village development comprising 31 units.
Borrowings increased during the year as the Group continued to invest in work in progress and new development opportunities. Total borrowings increased to £23.8m (2025: £14.2m) whilst cash balances increased to £5.3m (2025: £0.7m). Net debt at the year end was therefore £18.7m (2025: £13.4m).
Despite the increase in borrowings, the balance sheet remains robust with shareholder funds increasing to £31.2m together with substantial undrawn headroom available within the Group’s £25m revolving credit facility.
The Directors remain cautiously optimistic regarding the Group’s prospects. The business has entered the new financial year with improving sales activity, a strong development pipeline and a well-capitalised balance sheet, positioning the Group to continue delivering profitable growth.
Key Financial Performance Indicators
The Group delivered improved operational performance during the year with completions increasing from 64 to 68 units. Average selling prices increased by 7% to £490k, reflecting continued demand for the Group’s developments and favourable product mix.
Gross margin increased from 20.3% to 22.9%, demonstrating the benefits of disciplined land acquisition, careful cost management and improved site profitability despite ongoing inflationary and regulatory pressures across the sector.
The Group delivered a strong performance during the year despite continued challenges across the UK housing market. Revenue increased by 9% to £36.1m whilst profit before tax increased by 28% to £1.7m, reflecting disciplined operational management, continued demand across the Group’s developments and careful cost control.
Trading conditions across the sector remained challenging during much of the year due to elevated interest rates, affordability pressures and ongoing planning delays. Encouragingly, consumer confidence improved progressively towards the latter part of the financial year, supported by moderating inflation and improving mortgage market conditions.
The wider housebuilding sector continues to experience subdued levels of first-time buyer activity, and the Directors believe additional government support measures for the housing market would assist demand and improve affordability.
The Group also continued to experience increased costs arising from changes in building regulations and planning requirements. Heightened geopolitical tensions during the year contributed to some renewed volatility in energy and material markets, although the direct financial impact on the Group remained manageable.
Planning delays continue to present challenges across the sector, with lengthy determination periods impacting the timing of development starts and delaying capital deployment on strategic land opportunities. Whilst the Government has announced further planning reforms, the business has seen limited practical improvement during the year.
During the year the Group commenced two new developments in New Romney comprising 96 units together with the final phase of the Hawkinge retirement village development comprising 31 units.
Borrowings increased during the year as the Group continued to invest in work in progress and new development opportunities. Total borrowings increased to £23.8m (2025: £14.2m) whilst cash balances increased to £5.3m (2025: £0.7m). Net debt at the year end was therefore £18.7m (2025: £13.4m).
Despite the increase in borrowings, the balance sheet remains robust with shareholder funds increasing to £31.2m together with substantial undrawn headroom available within the Group’s £25m revolving credit facility.
The Directors remain cautiously optimistic regarding the Group’s prospects. The business has entered the new financial year with improving sales activity, a strong development pipeline and a well-capitalised balance sheet, positioning the Group to continue delivering profitable growth.
Key Financial Performance Indicators
The Group delivered improved operational performance during the year with completions increasing from 64 to 68 units. Average selling prices increased by 7% to £490k, reflecting continued demand for the Group’s developments and favourable product mix.
Gross margin increased from 20.3% to 22.9%, demonstrating the benefits of disciplined land acquisition, careful cost management and improved site profitability despite ongoing inflationary and regulatory pressures across the sector.
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Pentland Homes (Holdings) Limited
Group strategic report (continued)
For the year ended 31 January 2026
Employees
The Group remains committed to attracting, developing and retaining high-quality employees across all areas of the business.
Staff turnover remained low during the year, reflecting the importance the business places on employee engagement, development and retention.
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Pentland Homes (Holdings) Limited
Group strategic report (continued)
For the year ended 31 January 2026
Interest Rate Risk
At the time of writing the Group had drawn £18m under its £25m revolving credit facility with Lloyds Bank.
The previous interest rate hedge expired during the year and the Directors continue to monitor interest rate movements and evaluate whether future hedging arrangements are appropriate.
Liquidity Risk
The Group continues to maintain a strong funding position supported by shareholder funds of £31.2m and access to a £25m revolving credit facility.
The Directors believe the Group remains well positioned to manage market uncertainty whilst continuing to fund existing developments and future land acquisitions.
This report was approved by the board and signed on its behalf.
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Pentland Homes (Holdings) Limited
Directors' report
For the year ended 31 January 2026
The directors present their report and the financial statements for the year ended 31 January 2026.
The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The profit for the year, after taxation, amounted to £1,368,432 (2025 - £1,765,806).
The directors recommend a final dividend of £Nil for the year (2025: £1,000,000).
The directors who served during the year were:
The Group and associated companies controlled a landbank of 2,526 plots at the year end, providing strong medium-term visibility over future development activity and supporting the Group’s continued growth ambitions across Kent and the wider South East.
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Pentland Homes (Holdings) Limited
Directors' report (continued)
For the year ended 31 January 2026
The Group had the benefit of an interest rate hedge contract to protect against significant interest rate increases which expired during the year. The Directors continue to monitor interest rate movements and evaluate whether future hedging arrangements are appropriate.
The Group remains committed to delivering high-quality and energy-efficient homes whilst operating responsibly within the communities in which it builds.
During the year the Group continued to focus on:
• maintaining high standards of health and safety
• employee development and wellbeing
• environmental compliance
• responsible construction practices
• maintaining positive relationships with local stakeholders and communities
Going concern
The activities of the Group and the factors that are likely to affect its future development, financial position and risk management objectives are described in the Strategic Report.
The Group has considerable financial resources and access to further funding, and the directors consider that the Group is in a strong position to manage its business risks and to take advantage of the market conditions in the house building industry. Consequently they continue to adopt the going concern basis in preparing the annual report and accounts.
The directors have reviewed the Group's business and consider that there are no liabilities that have not been shown in the balance sheet.
During the year the Group continued to focus on:
• maintaining high standards of health and safety
• employee development and wellbeing
• environmental compliance
• responsible construction practices
• maintaining positive relationships with local stakeholders and communities
Going concern
The activities of the Group and the factors that are likely to affect its future development, financial position and risk management objectives are described in the Strategic Report.
The Group has considerable financial resources and access to further funding, and the directors consider that the Group is in a strong position to manage its business risks and to take advantage of the market conditions in the house building industry. Consequently they continue to adopt the going concern basis in preparing the annual report and accounts.
The directors have reviewed the Group's business and consider that there are no liabilities that have not been shown in the balance sheet.
Engagement with suppliers, customers and other stakeholders is explained in the strategic report.
The GHG Reporting Protocol - Corporate Standard Methodology was used to calculate the group's emissions and energy consumption.
Intensity ratio: Emissions per £ of sales revenue - 679 (2025: 677).
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Pentland Homes (Holdings) Limited
Directors' report (continued)
For the year ended 31 January 2026
The audit registration of Kreston Reeves LLP was transferred to Kreston Reeves Audit LLP on 6 October 2025. Kreston Reeves Audit LLP were formally appointed as auditor to the company on 6 October 2025.
The auditors, Kreston Reeves Audit LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board and signed on its behalf.
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Pentland Homes (Holdings) Limited
Independent auditors' report to the members of Pentland Homes (Holdings) Limited
We have audited the financial statements of Pentland Homes (Holdings) Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 January 2026, which comprise the Consolidated statement of comprehensive income, the Consolidated balance sheet, the Company balance sheet, the Consolidated statement of cash flows, the Consolidated statement of changes in equity, the Company statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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Pentland Homes (Holdings) Limited
Independent auditors' report to the members of Pentland Homes (Holdings) Limited (continued)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.
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Pentland Homes (Holdings) Limited
Independent auditors' report to the members of Pentland Homes (Holdings) Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Capability of the audit in detecting irregularities, including fraud
Based on our understanding of the company and industry, and through discussion with the directors and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase revenue or reduce expenditure, management bias in accounting estimates and judgemental areas of the financial statements such as the valuation of work in progress. Audit procedures performed by the company engagement team included:
∙Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud; and
∙Assessment of identified fraud risk factors; and
∙Challenging assumptions and judgements made by management in its significant accounting estimates; and
∙Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
∙Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
∙Reading minutes of meetings of those charged with governance, reviewing internal audit reports and reviewing correspondence with relevant tax and regulatory authorities; and
∙Review of internal controls and physical inspection of tangible assets susceptible to fraud or irregularity; and
∙Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and
∙Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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Pentland Homes (Holdings) Limited
Independent auditors' report to the members of Pentland Homes (Holdings) Limited (continued)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Canterbury
28 May 2026
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Pentland Homes (Holdings) Limited
Consolidated statement of comprehensive income
For the year ended 31 January 2026
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Pentland Homes (Holdings) Limited
Registered number: 06362844
Consolidated balance sheet
As at 31 January 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 37 form part of these financial statements.
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Pentland Homes (Holdings) Limited
Registered number: 06362844
Company balance sheet
As at 31 January 2026
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 17 to 37 form part of these financial statements.
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Pentland Homes (Holdings) Limited
Consolidated statement of changes in equity
For the year ended 31 January 2026
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Pentland Homes (Holdings) Limited
Company statement of changes in equity
For the year ended 31 January 2026
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Pentland Homes (Holdings) Limited
Consolidated statement of cash flows
For the year ended 31 January 2026
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
Pentland Homes (Holdings) Limited is a limited liability company incorporated in England and Wales with the registration number 06362844. The address of the registered office is The Estate Office, Canterbury Road, Etchinghill, Folkestone, Kent, CT18 8FA.
The principal activity of the Group in the year under review was that of the development and sale of residential property.
The principal activity of the Group in the year under review was that of the development and sale of residential property.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgement in applying the Group's accounting policies (see note 3).
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.
The financial statements are presented in pounds sterling and are rounded to the nearest pound.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with UK GAAP, the company annually assesses whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the ability of the group to continue as a going concern and meets its obligation as they become due for one year after the date that the financial statements are issued. This evaluation is based on relevant conditions and events that are known or reasonably knowable at this date. If substantial doubt exists, management will also assess whether there are effective plans in place to alleviate these conditions.
Management has performed this evaluation through to the date of signing of the accounts and determined that there are no conditions or events, considered in the aggregate, that raise substantial doubt about the company’s ability to continue as a going concern for one year after signing.
Management has performed this evaluation through to the date of signing of the accounts and determined that there are no conditions or events, considered in the aggregate, that raise substantial doubt about the company’s ability to continue as a going concern for one year after signing.
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
2.Accounting policies (continued)
In respect of sales of residential units, a contract is established through a formal purchase process that involves the exchange of contracts via solicitors. Revenue from the sale of residential units is recognised at a point in time on legal completion where the group has transferred to the buyer the control of the units.
Contract revenue
The group acts as a main contractor on certain building projects, primarily on behalf of the housing associations where the group must provide social housing units as part of its obligations under the planning consent or has sold the land to the housing association and entered into a construction contract to provide the completed units.
Revenue on construction contracts is recognised over time as the performance obligations are satisfied. The output method is used to measure the progress of the group's performance over the duration of the contract. This is done through valuation surveys conducted by the group and by the customer respectively who then agree the value of work completed. The agreed valuation is used to determine the revenue to be recognised for the period. Where the outcome of a contract on which revenue is recognised over time cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
2.Accounting policies (continued)
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Amortisation is provided on the following bases:
At each reporting date the Group assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
2.Accounting policies (continued)
The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
2.Accounting policies (continued)
recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
2.Accounting policies (continued)
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
Key sources of estimation uncertainty
i) Valuation of inventories
The group values inventories at the lower of cost and net realisable value. The net realisable value is based on the judgement of the probability that planning consent will be granted for each site. The group believes that based on directors' experience, planning consent will be given. If planning consent was not achieved than a provision may be required against inventories.
In applying the group's accounting policy for the valuation of inventories the directors are required to assess the expected selling price and costs to sell each of the plots or units that constitute the group's work in progress. Cost includes the cost of acquisition of sites, the cost of infrastructure and construction works, and legal and professional fees incurred during development prior to sale. Estimation of selling price is subject to significant inherent uncertainties, in particular the prediction of future trends in the market value of land.
Whilst the directors exercise due care and attention to make reasonable estimates, taking into account all available information in estimating the future selling price, the estimates will, in all likelihood, differ from actual selling prices achieved in future periods and these differences may, in certain circumstances, be very significant. The critical judgement in respect of receipt of planning consent further increases the level of estimation uncertainty.
ii) Useful economic lives of tangible and intangible assets
The annual depreciation and amortisation charge for assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets.
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
Analysis of turnover by country of destination:
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
There were no factors that may affect future tax charges.
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The loss after tax of the parent Company for the year was £12,423 (2025 - loss £11,580 ).
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
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Page 30
Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
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Page 31
Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
Page 32
Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
Page 33
Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
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Page 34
Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
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Share premium account
Profit and loss account
Page 35
Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
The group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the group to the scheme and amounted to £251,550 (2025: £146,840). Contributions totaling £12,682 (2025: £17,006) were payable to the scheme at the balance sheet date.
29.Transactions with directors
Following balances were outstanding at the year end:
Loans payable to directors totalled £Nil (2025: £3k). During the year the company paid interest of £Nil (2025: £Nil) on the loan.
Loans payable to directors totalled £Nil (2025: £3k). During the year the company paid interest of £Nil (2025: £Nil) on the loan.
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Pentland Homes (Holdings) Limited
Notes to the financial statements
For the year ended 31 January 2026
Pentland Homes (Holdings) Limited is the ultimate parent company.
J N Tory is the ultimate controlling party by virtue of his majority shareholding in the parent company.
J N Tory is the ultimate controlling party by virtue of his majority shareholding in the parent company.
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