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"2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-271": { "value": "200000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-272": { "value": "36400000", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-273": { "value": "30500000", "decimals": -5, "dimensions": { "concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-274": { "value": "1000000", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-275": { "value": "900000", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-276": { "value": "-42900000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-277": { "value": "-29800000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-278": { "value": "3000000", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-279": { "value": "3300000", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-280": { "value": "4300000", "decimals": -5, "dimensions": { "concept": "persimmonplc:CashFlowsFromPaymentOfPartnershipLiabilityClassifiedAsFinancingActivites", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-281": { "value": "4100000", "decimals": -5, "dimensions": { "concept": "persimmonplc:CashFlowsFromPaymentOfPartnershipLiabilityClassifiedAsFinancingActivites", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-282": { "value": "4900000", "decimals": -5, "dimensions": { "concept": "persimmonplc:BankFeesPaidClassifiedAsFinancingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-283": { "value": "-0", "decimals": -5, "dimensions": { "concept": "persimmonplc:BankFeesPaidClassifiedAsFinancingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-284": { "value": "1200000", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-285": { "value": "700000", "decimals": -5, "dimensions": { "concept": "ifrs-full:PaymentsToAcquireOrRedeemEntitysShares", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-286": { "value": "0", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromExerciseOfOptions", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-287": { "value": "700000", "decimals": -5, "dimensions": { "concept": "ifrs-full:ProceedsFromExerciseOfOptions", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-288": { "value": "255400000", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-289": { "value": "750100000", "decimals": -5, "dimensions": { "concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-290": { "value": "-268800000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-291": { "value": "-757500000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-292": { "value": "-441500000", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-293": { "value": "-385000000", "decimals": -5, "dimensions": { "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-294": { "value": "861600000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-295": { "value": "1246600000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-296": { "value": "420100000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2024-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-297": { "value": "861600000", "decimals": -5, "dimensions": { "concept": "ifrs-full:CashAndCashEquivalents", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00", "unit": "iso4217:GBP" } }, "fact-302": { "value": "
1 Adoption of new and revised International Financial Reporting
Standards (IFRSs) and Interpretations (IFRICs)
The following relevant UK endorsed new amendments to standards are mandatory for the first time for the financial
year beginning 1 January 2023:
\u2022 Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction
\u2022 Amendments to IAS 8 Definition of Accounting Estimates
\u2022 Amendments to IAS 1 and IFRS Practice Statement 2 Disclosure of Accounting Policies
\u2022 Amendments to IFRS 7 Insurance Contracts
The effects of the implementation of these amendments have been limited to disclosure amendments where applicable.
The Group has not applied the following new amendments to standards which are endorsed but not yet effective:
\u2022 Amendments to IAS 1 Presentation of Financial Statements
\u2022 Amendments to IAS 7 and IFRS 7 Supplier Finance Arrangements
\u2022 Amendments to IAS 12 International Tax Reform \u2013 Pillar Two Model Rules
\u2022 Amendments to IFRS 16 Lease Liability in a Sale and Leaseback
The Group is currently considering the implication of these amendments with the expected impact upon the Group
being limited to disclosures if applicable.
", "dimensions": { "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-361": { "value": "The following relevant UK endorsed new amendments to standards are mandatory for the first time for the financial year beginning 1 January 2023: \u2022 Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction \u2022 Amendments to IAS 8 Definition of Accounting Estimates \u2022 Amendments to IAS 1 and IFRS Practice Statement 2 Disclosure of Accounting Policies \u2022 Amendments to IFRS 7 Insurance Contracts The effects of the implementation of these amendments have been limited to disclosure amendments where applicable. ", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-362": { "value": "The Group has not applied the following new amendments to standards which are endorsed but not yet effective: \u2022 Amendments to IAS 1 Presentation of Financial Statements \u2022 Amendments to IAS 7 and IFRS 7 Supplier Finance Arrangements \u2022 Amendments to IAS 12 International Tax Reform \u2013 Pillar Two Model Rules \u2022 Amendments to IFRS 16 Lease Liability in a Sale and Leaseback The Group is currently considering the implication of these amendments with the expected impact upon the Group being limited to disclosures if applicable.", "dimensions": { "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-301": { "value": "
2 Accounting policies
Statement of compliance
The consolidated Group financial statements are prepared in accordance with UK adopted International Accounting
Standards (\u2018IAS\u2019). Parent Company financial statements are prepared in accordance with UK adopted IAS in
conformity with the requirements of the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the historical cost basis except for the revaluation of certain financial
instruments. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
In preparing the Group financial statements management has considered the impact of climate change, taking into
account the relevant disclosures in the Strategic Report, including those made in accordance with the recommendations
of the Task Force on Climate Related Disclosures. This included an assessment of inventories and goodwill and
intangible assets and how they could be impacted by measures taken to address global warming.
Recognising that the environmental impact on the Group\u2019s operations is relatively low, no issues were identified that
would impact the carrying values of such assets or have any other impact on the financial statements.
Going concern
The Group\u2019s performance in the 12 months ended 31 December 2023 has been resilient in the face of a number of
challenges and periods of uncertainty. Persimmon\u2019s long-term strategy, which recognises the risks associated with the
housing cycle by maintaining operational flexibility, investing in high quality land, minimising financial risk and deploying
capital at the right time in the cycle, has equipped the business with strong liquidity and a robust balance sheet.
The Group completed the sale of 9,922 new homes (2022: 14,868), generating a pre-exceptional profit before tax of
\u00a3351.8m (2022: \u00a31,005.7m). At 31 December 2023, the Group\u2019s strong financial position included \u00a3420.1m of cash
(2022: \u00a3861.6m), high quality land holdings, and land creditors of \u00a3372.0m (2022: \u00a3472.8m). In addition, on 5 July
the Group renewed its Revolving Credit Facility increasing it from \u00a3300m to \u00a3700m, with a five-year term to 5 July
2028 and the possibility to extend for a further two years. The facility is undrawn at the year end.
The Group\u2019s forward order book at 1 January 2024 includes nearly 1,900 new homes sold forward into the private
owner occupier market (1 January 2023: 1,696 new homes forward sold) with an average selling price of over
\u00a3266,000. In addition, the cumulative average private sales reservation rate for the first 10 weeks of 2024 is c.9%
stronger than for the same period last year.
The Directors have carried out a robust assessment of the principal risks facing the Group, as described on page 72
of this report. The Group has considered the impact of these risks on the going concern of the business by performing
a range of sensitivity analyses to the latest base case forecast, covering the period to 30 June 2025, including severe
but plausible scenarios materialising together with the likely effectiveness of mitigating actions that would be executed
by the Directors. For further detail regarding the approach and process the Directors follow in assessing the long-term
viability of the business, please see the Viability Statement on page 76.
The scenarios emphasise the potential impact of severe market disruption, including, for example, the effect of
economic disruption from a cost-of-living crisis or a war, on short to medium-term demand for new homes. The
scenarios\u2019 emphasis on the impact on the cash inflows of the Group through reduced new home sales is designed to
allow the examination of the extreme cash flow consequences of such circumstances occurring. The Group\u2019s cash
flows are less sensitive to supply side disruption given the Group\u2019s sustainable business model, flexible operations,
agile management team and off-site manufacturing facilities.
The first scenario modelled is a severe but plausible downside scenario that models a fall in housing revenue, when
compared to full year 2023, of c.53% for full year 2024 followed by a gradual recovery. The housing revenue
modelled factors in changes in both volumes and average selling prices. The assumption used in this scenario reflects
the experience management gained during the Global Financial Crisis from 2007 to 2010, it being the worst recession
seen in the housing market since World War Two.
A second, even more extreme, scenario assumes the same significant downturn in 2024 followed by a period of
enduring depression of the UK economy and housing market during 2025, assuming that neither volumes nor revenue
recover.
In each of these scenarios, cash flows were assumed to be managed consistently, ensuring all relevant land, work in
progress and operational investments were made in the business at the appropriate time to deliver the projected new
home legal completions. Each scenario fully reflects the current estimate of cash outflows, value and timing, associated
with the legacy buildings provision. In each of these scenarios, the Group is able to operate within its facilities.
The Directors have also considered a \u2018Reverse Stress Test\u2019 to demonstrate the point at which the Group runs out of
liquid funds or breaches covenants but note the likelihood of this is less than remote.
In addition, the Group has been increasingly assessing climate related risks and opportunities that may present to the Group. During the period assessed for going concern no significant risk has been identified that would materially impact the Group\u2019s ability to generate sufficient cash and continue as a going concern. Having considered the inherent strength of the UK housing market, the resilience of the Group\u2019s average selling prices and the Group\u2019s scenario analysis as detailed above, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements . Basis of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries up to 31 December each year. Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect the returns through its power over the entity. The acquisition date is the date on which control is transferred to the acquirer. The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the Group. All intra-Group transactions, balances, income and expenses are eliminated on consolidation. Business combinations The acquisition of subsidiaries is accounted for using the acquisition method. The subsidiary\u2019s identifiable assets, liabilities and contingent liabilities are recognised at their fair value at the acquisition date. Goodwill Goodwill arising on consolidation represents the excess of the cost of acquisition over the Group\u2019s interest in the fair value of the identifiable assets, liabilities and contingent liabilities of the acquired entity at the date of the acquisition. Goodwill arising on acquisition of subsidiaries and businesses is capitalised as an asset. Goodwill is subsequently measured at cost less any accumulated impairment losses. Brand intangibles Internally generated brands are not held on the balance sheet. The Group carries assets on the balance sheet only for brands that have been acquired. Acquired brand values are calculated based on discounted cash flows. No amortisation is charged on brand intangibles as the Group believes that the value of the brands is maintained indefinitely. The factors that result in the durability of the brands capitalised are that there are no material legal, regulatory, contractual, competitive, economic or other factors that limit the useful life of these intangibles. The acquired brands are tested annually for impairment by performing a value in use calculation, using a discount factor based on the Group\u2019s pre-tax weighted average cost of capital, on the branded income stream. Where a brand\u2019s life is not deemed to be indefinite it is written off over its expected useful life on a straight line basis. Revenue recognition Revenue on private new housing is recognised as the consideration received on legal completion of new built private residential property sale. Revenue on housing sold to housing associations is recognised either on the consideration received on legal completion of a newly built residential property or amounts contractually due under development agreement. The Group recognises revenue in the income statement over time for contracts where the control of land is irrevocably transferred to the customer before or during construction. Revenue is recognised from the point that control is irrevocably transferred to the customer. Where revenue is recognised over time and the outcome of the contract can be estimated reliably, it is recognised based on the stage of completion of the agreement as verified by surveys performed by the relevant customer. Revenue also includes the fair value of the consideration received or receivable on the sale of part exchange properties. Revenue relating to the provision of internet services is recognised as the service is provided. Revenue also includes the fair value of the consideration received or receivable on the sale of part exchange properties. Revenue relating to the provision of internet services is recognised as the service is provided. Government grants Grants are included within work in progress in the balance sheet and are credited to the statement of comprehensive income over the life of the developments to which they relate. Grants related to income are deducted from the related expense in the statement of comprehensive income. For the year ended 31 December 2023, no material government grants were received. Other operating income Other operating income comprises profits from the sale of land holdings, freehold reversions, rent receivable and other incidental sundry income. Operating expenses Operating expenses represent the administration costs of the business, which are written off to the statement of comprehensive income as incurred. Borrowing costs Interest bearing bank loans and partnership liabilities are initially measured at fair value (being proceeds received, net of direct issue costs) and are subsequently measured at amortised cost, using the effective interest rate method. Finance charges, including direct issue costs, are accounted for and taken to the statement of comprehensive income using the effective interest rate method. Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Where bank agreements include a legal right of offset for in hand and overdraft balances, and the Group intends to settle the net outstanding position, the offset arrangements are applied to record the net position in the balance sheet. Exceptional items Exceptional items are items of income and expenditure that, in the judgement of management, should be disclosed separately on the basis that they are material, either by their nature or their size, to an understanding of the financial performance and significantly distort the comparability of financial performance between accounting periods. Items of income or expense that are considered by management for designation as exceptional include such items as major restructuring and significant impairment of assets. During 2022 the charge of \u00a3275.0m relating to the increase of the Group\u2019s legacy buildings provision was disclosed as an exceptional item due to the non-recurring nature and scale of the charge. Further details on this provision are found in notes 3 and 22. Share-based payments Charges for employee services received in exchange for share-based payment have been made for all options/ awards in accordance with IFRS 2 Share-based Payment, to spread the fair value of the grant over the anticipated vesting period. The fair value of such options has been calculated using generally accepted option pricing models, based upon publicly available market data at the point of grant. Share options include both market and non-market conditions. Market conditions are considered in the establishment of the initial valuation of the options. In the event of failure to meet market conditions share-based payment charges are not reversed. In the event of failure to meet non-market conditions share-based payment charges are reversed. Where options are net settled in respect of withholding tax obligations, these are accounted for as equity settled transactions. Payments to HMRC are accounted for as a deduction from equity for the shares withheld, except to the extent (if any) that the payment exceeds the fair value of shares withheld, in which case the excess will be charged to the statement of comprehensive income. Share-based payments are charged wholly in the ultimate Parent Company. Retirement benefit costs The Group operates two defined benefit pension schemes. It also operates two defined contribution schemes for employees who are not members of a defined benefit scheme. The asset/liability in respect of the defined benefit schemes is the present value of the defined benefit obligation at the balance sheet date, less the fair value of the schemes\u2019 assets, together with adjustments for remeasurement gains and losses. Where a net asset results it is limited to the present value of economic benefits available in the form of future refunds from the scheme or reductions in future contributions, subject to any minimum funding requirements. Further details of the schemes and the valuation methods applied may be found in note 28. Interest cost on the scheme liabilities and finance returns on scheme assets are recognised at the applicable discount rate as net finance income/costs in the statement of comprehensive income and remeasurement gains and losses via the statement of other comprehensive income. Subsidiary entities bear a charge for current employees based upon their current pensionable salaries. Differences between this charge and the current service cost are borne by the Company as the legal sponsor, as are all experience gains and losses. There is no contractual arrangement or stated policy for recharging the other Group entities involved in the schemes. Payments to the defined contribution schemes are accounted for on an accruals basis. Once the payments have been made, the Group has no further payment obligations. Taxation Income tax on the profit for the year comprises current and deferred tax. Income tax is recognised in the statement of comprehensive income except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity. Current tax is the expected tax payable on the taxable income for the year, using enacted or substantially enacted tax rates, and adjusted for any tax payable in respect of previous years. The Group assesses its exposure to Pillar Two income taxes based on the most recent information available from tax filings and financial statements, and takes into account known changes in the Group and its operations. Deferred tax is provided using the balance sheet liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill, the initial recognition of assets or liabilities that affect neither accounting or taxable profit, and differences relating to investment in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the carrying amount of assets and liabilities, using the tax rates applicable, or expected to be applicable at the date of settlement, based on enacted rates at the balance sheet date. Where the deferred tax asset recognised in respect of share-based payments would give rise to a credit in excess of the related accounting charge at the prevailing tax rate the excess is recognised directly in equity. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reviewed at each balance sheet date. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities when the Group intends to settle its current tax assets and liabilities on a net basis. In July 2023, the UK Endorsement Board adopted \u2018International Tax Reform\u2014Pillar Two Model Rules (Amendments to IAS 12) as issued by the IASB. The Amendments introduce a temporary mandatory exception from accounting for deferred taxes arising from the Pillar Two model rules, effective immediately and retrospectively, and the Group has applied this exception. Leases The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised and any initial direct costs incurred. Right of use assets are depreciated on a straight line basis over the shorter of the lease term and the estimated useful lives of the assets (2-30 years). The Group applies the short-term lease exemption and the low value asset recognition exemption to leases that have a lease term of 12 months or less from commencement date or are considered to be low value. Lease payments on short-term leases or leases of low value assets are charged to work in progress or operating expenses on a straight line basis over the lease term . Property, plant and equipment It is the Group\u2019s policy to hold property, plant and equipment at cost less accumulated depreciation, subject to the requirement to test assets for impairment.
Depreciation on property, plant and equipment is provided using the straight line method to write off the cost less any
estimated residual value, over the estimated useful lives on the following bases:
Plant and equipment \u2013 3 to 5 years.
Fixtures and fittings \u2013 3 to 5 years.
Owned utility infrastructure \u2013 15 to 40 years.
Freehold buildings \u2013 50 years.
No depreciation is provided on freehold land.
The assets\u2019 useful economic lives and residual values are reviewed and adjusted, if appropriate, at each financial year end.
An impairment loss is recognised for the amount by which the asset\u2019s carrying amount exceeds its recoverable amount.
Investments
Interests in subsidiary undertakings are valued at cost less impairment. Other investments are stated at fair value.
Joint ventures and associates
A joint venture is an entity in which the Group holds an interest with one or more other parties where a contractual
arrangement has established joint control over the entity, and where the arrangements entitle the Group to a share
of the net assets of the entity.
An associate is an entity in which the Group holds an interest with one or more other parties where it exerts significant
influence, but not overall control, over the entity.
Investments in joint ventures and associates are accounted for under the equity method of accounting.
Joint operations
A joint operation is an arrangement or entity in which the Group holds an interest with one or more other parties where
a contractual arrangement has established joint control over the operation and where the arrangements entitle the
Group to rights over specific assets or obligations of the operation. The Group recognises its share of revenue, costs,
assets and liabilities for its joint operations.
Shared equity loan receivables
Receivables on extended terms granted as part of a sales transaction are secured by way of a second legal charge
on the respective property. The loans are classified as financial assets held at fair value through profit or loss and are
carried in the balance sheet at fair value with net changes in fair value recognised in the statement of comprehensive
income as described in note 17.
Inventories
Inventories are stated at the lower of cost and net realisable value. Land with planning includes undeveloped land and
land under development and is initially recorded at discounted cost. Where, through deferred purchase credit terms,
the carrying value differs from the amount that will ultimately be paid in settling the liability, this difference is charged
as a finance cost in the statement of comprehensive income over the period of settlement. Work in progress comprises
direct materials, labour costs, site overheads, associated professional charges and other attributable overheads.
Net realisable value represents the estimated selling prices less all estimated costs of completion and overheads.
Investments in land without the benefit of a planning consent are initially included at cost. Regular reviews are carried out to identify any impairment in the value of the land considering the existing use value of the land and the likelihood of achieving a planning consent and the value thereof. Provision is made to reflect any irrecoverable amounts. Expenditure relating to forward land, including options and fees, is held at cost. If the option expires or the Directors no longer consider it likely that the option will be exercised prior to the securing of planning permission, the amount is written off on that date. Impairment of financial assets The Group recognises an allowance for expected credit losses for all debt instruments not held at fair value through profit and loss. Expected credit losses are based on the difference between the contracted cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. For trade receivables and, in the Parent Company, intercompany receivables, the Group applies a simplified approach in calculating expected credit losses. The Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each balance sheet date. Inter-Group guarantees The Company enters into financial guarantee contracts to guarantee the indebtedness of other companies within the Group. These have been of insignificant value in the year . Trade and other payables Trade payables on normal terms are not interest bearing and are stated at amortised cost. Trade payables on extended terms, particularly in respect of land purchases, are initially recorded at their fair value and subsequently measured at amortised cost using the effective interest method. Provisions Provisions are recognised when the Group has a present commitment as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle that commitment. Provisions are measured at the Directors\u2019 best estimate of the expenditure required to settle the commitment at the balance sheet date and are discounted to present value where the effect is material. Deposits New property deposits and on account contract receipts are held within current trade and other payables until the legal completion of the related property or cancellation of the sale. Cash and cash equivalents Cash and cash equivalents include cash and balances in the bank accounts with no notice or less than three months\u2019 notice from inception, and are subject to insignificant risk of changes in value. Interest bearing borrowings Interest bearing borrowings and partnership liabilities are carried at amortised cost. Dividends Dividends receivable by the Parent Company from subsidiaries are accounted for on a cash basis, or once formally approved by the shareholders of the subsidiary companies. These cash flows are treated as operating cash flows on the basis that the Parent Company\u2019s underlying activities includes receiving dividends from its subsidiaries. Dividends payable are recorded in the period in which they are approved or paid, whichever is earliest. Own shares held The Group may acquire holdings in its own shares either directly or via employee benefit trusts. The acquisition cost of such shares (including associated purchase costs) is treated as a deduction from retained earnings. Such shares may be used in satisfaction of employee options or rights, in which case the cost of such shares is reversed from the retained earnings on a \u2018first in first out\u2019 basis. Transactions of the Company sponsored EBT are treated as being those of the Company and are therefore reflected in the Company financial statements. In particular, the trust\u2019s purchases and sales of shares in the Company are debited and credited directly to equity. Prior year restatement The Parent Company prior year cash flow has been restated to correct the presentation of dividends received. The dividends received from wholly owned subsidiaries (\u00a3600m) is now included separately as an adjustment in the reconciliation of profit before tax to the cash inflow from operating activities, and then reflected as a separate line item within operating cash flows in line with IAS 7.31. This resulted in cash inflows from operating activities (subtotal) decreasing from \u00a3613.1m to \u00a313.1m, but no changes to net cash (outflow)/inflow from operating activities (subtotal), which remains at \u00a3300.3m. This restatement has no impact on the net assets or profit for the year for the Parent Company.", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-303": { "value": "Statement of compliance The consolidated Group financial statements are prepared in accordance with UK adopted International Accounting Standards (\u2018IAS\u2019). Parent Company financial statements are prepared in accordance with UK adopted IAS in conformity with the requirements of the Companies Act 2006. ", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-304": { "value": "Basis of preparation The financial statements have been prepared on the historical cost basis except for the revaluation of certain financial instruments. Historical cost is generally based on the fair value of the consideration given in exchange for assets. In preparing the Group financial statements management has considered the impact of climate change, taking into account the relevant disclosures in the Strategic Report, including those made in accordance with the recommendations of the Task Force on Climate Related Disclosures. This included an assessment of inventories and goodwill and intangible assets and how they could be impacted by measures taken to address global warming. Recognising that the environmental impact on the Group\u2019s operations is relatively low, no issues were identified that would impact the carrying values of such assets or have any other impact on the financial statements. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-305": { "value": "Going concern The Group\u2019s performance in the 12 months ended 31 December 2023 has been resilient in the face of a number of challenges and periods of uncertainty. Persimmon\u2019s long-term strategy, which recognises the risks associated with the housing cycle by maintaining operational flexibility, investing in high quality land, minimising financial risk and deploying capital at the right time in the cycle, has equipped the business with strong liquidity and a robust balance sheet. The Group completed the sale of 9,922 new homes (2022: 14,868), generating a pre-exceptional profit before tax of \u00a3351.8m (2022: \u00a31,005.7m). At 31 December 2023, the Group\u2019s strong financial position included \u00a3420.1m of cash (2022: \u00a3861.6m), high quality land holdings, and land creditors of \u00a3372.0m (2022: \u00a3472.8m). In addition, on 5 July the Group renewed its Revolving Credit Facility increasing it from \u00a3300m to \u00a3700m, with a five-year term to 5 July 2028 and the possibility to extend for a further two years. The facility is undrawn at the year end. The Group\u2019s forward order book at 1 January 2024 includes nearly 1,900 new homes sold forward into the private owner occupier market (1 January 2023: 1,696 new homes forward sold) with an average selling price of over \u00a3266,000. In addition, the cumulative average private sales reservation rate for the first 10 weeks of 2024 is c.9% stronger than for the same period last year. The Directors have carried out a robust assessment of the principal risks facing the Group, as described on page 72 of this report. The Group has considered the impact of these risks on the going concern of the business by performing a range of sensitivity analyses to the latest base case forecast, covering the period to 30 June 2025, including severe but plausible scenarios materialising together with the likely effectiveness of mitigating actions that would be executed by the Directors. For further detail regarding the approach and process the Directors follow in assessing the long-term viability of the business, please see the Viability Statement on page 76. The scenarios emphasise the potential impact of severe market disruption, including, for example, the effect of economic disruption from a cost-of-living crisis or a war, on short to medium-term demand for new homes. The scenarios\u2019 emphasis on the impact on the cash inflows of the Group through reduced new home sales is designed to allow the examination of the extreme cash flow consequences of such circumstances occurring. The Group\u2019s cash flows are less sensitive to supply side disruption given the Group\u2019s sustainable business model, flexible operations, agile management team and off-site manufacturing facilities. The first scenario modelled is a severe but plausible downside scenario that models a fall in housing revenue, when compared to full year 2023, of c.53% for full year 2024 followed by a gradual recovery. The housing revenue modelled factors in changes in both volumes and average selling prices. The assumption used in this scenario reflects the experience management gained during the Global Financial Crisis from 2007 to 2010, it being the worst recession seen in the housing market since World War Two. A second, even more extreme, scenario assumes the same significant downturn in 2024 followed by a period of enduring depression of the UK economy and housing market during 2025, assuming that neither volumes nor revenue recover. In each of these scenarios, cash flows were assumed to be managed consistently, ensuring all relevant land, work in progress and operational investments were made in the business at the appropriate time to deliver the projected new home legal completions. Each scenario fully reflects the current estimate of cash outflows, value and timing, associated with the legacy buildings provision. In each of these scenarios, the Group is able to operate within its facilities. The Directors have also considered a \u2018Reverse Stress Test\u2019 to demonstrate the point at which the Group runs out of liquid funds or breaches covenants but note the likelihood of this is less than remote. In addition, the Group has been increasingly assessing climate related risks and opportunities that may present to the Group. During the period assessed for going concern no significant risk has been identified that would materially impact the Group\u2019s ability to generate sufficient cash and continue as a going concern. Having considered the inherent strength of the UK housing market, the resilience of the Group\u2019s average selling prices and the Group\u2019s scenario analysis as detailed above, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements ", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-306": { "value": "
Basis of consolidation
The consolidated financial statements include the financial statements of the Company and its subsidiaries up to
31 December each year. Subsidiaries are entities controlled by the Group. The Group controls an entity when it is
exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect the returns
through its power over the entity. The acquisition date is the date on which control is transferred to the acquirer. The
financial statements of subsidiaries are included in the consolidated financial statements from the date that control
commences until the date that control ceases. Where necessary, adjustments are made to the financial statements of
subsidiaries to bring the accounting policies used into line with those used by the Group. All intra-Group transactions,
balances, income and expenses are eliminated on consolidation.
", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-311": { "value": "Business combinations The acquisition of subsidiaries is accounted for using the acquisition method. The subsidiary\u2019s identifiable assets, liabilities and contingent liabilities are recognised at their fair value at the acquisition date. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-388": { "value": "Business combinations The acquisition of subsidiaries is accounted for using the acquisition method. The subsidiary\u2019s identifiable assets, liabilities and contingent liabilities are recognised at their fair value at the acquisition date. Goodwill Goodwill arising on consolidation represents the excess of the cost of acquisition over the Group\u2019s interest in the fair value of the identifiable assets, liabilities and contingent liabilities of the acquired entity at the date of the acquisition. Goodwill arising on acquisition of subsidiaries and businesses is capitalised as an asset. Goodwill is subsequently measured at cost less any accumulated impairment losses. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-363": { "value": "
Goodwill
Goodwill arising on consolidation represents the excess of the cost of acquisition over the Group\u2019s interest in the fair
value of the identifiable assets, liabilities and contingent liabilities of the acquired entity at the date of the acquisition.
Goodwill arising on acquisition of subsidiaries and businesses is capitalised as an asset. Goodwill is subsequently
measured at cost less any accumulated impairment losses.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-310": { "value": "Goodwill Goodwill arising on consolidation represents the excess of the cost of acquisition over the Group\u2019s interest in the fair value of the identifiable assets, liabilities and contingent liabilities of the acquired entity at the date of the acquisition. Goodwill arising on acquisition of subsidiaries and businesses is capitalised as an asset. Goodwill is subsequently measured at cost less any accumulated impairment losses. Brand intangibles Internally generated brands are not held on the balance sheet. The Group carries assets on the balance sheet only for brands that have been acquired. Acquired brand values are calculated based on discounted cash flows. No amortisation is charged on brand intangibles as the Group believes that the value of the brands is maintained indefinitely. The factors that result in the durability of the brands capitalised are that there are no material legal, regulatory, contractual, competitive, economic or other factors that limit the useful life of these intangibles. The acquired brands are tested annually for impairment by performing a value in use calculation, using a discount factor based on the Group\u2019s pre-tax weighted average cost of capital, on the branded income stream. Where a brand\u2019s life is not deemed to be indefinite it is written off over its expected useful life on a straight line basis. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-364": { "value": "
Brand intangibles
Internally generated brands are not held on the balance sheet. The Group carries assets on the balance sheet only for
brands that have been acquired. Acquired brand values are calculated based on discounted cash flows. No
amortisation is charged on brand intangibles as the Group believes that the value of the brands is maintained
indefinitely. The factors that result in the durability of the brands capitalised are that there are no material legal,
regulatory, contractual, competitive, economic or other factors that limit the useful life of these intangibles. The
acquired brands are tested annually for impairment by performing a value in use calculation, using a discount factor
based on the Group\u2019s pre-tax weighted average cost of capital, on the branded income stream.
Where a brand\u2019s life is not deemed to be indefinite it is written off over its expected useful life on a straight line basis.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-314": { "value": "
Revenue recognition
Revenue on private new housing is recognised as the consideration received on legal completion of new built private
residential property sale.
Revenue on housing sold to housing associations is recognised either on the consideration received on legal
completion of a newly built residential property or amounts contractually due under development agreement.
The Group recognises revenue in the income statement over time for contracts where the control of land is irrevocably
transferred to the customer before or during construction. Revenue is recognised from the point that control is
irrevocably transferred to the customer. Where revenue is recognised over time and the outcome of the contract can be
estimated reliably, it is recognised based on the stage of completion of the agreement as verified by surveys performed
by the relevant customer. Revenue also includes the fair value of the consideration received or receivable on the sale of
part exchange properties. Revenue relating to the provision of internet services is recognised as the service is provided.
Revenue also includes the fair value of the consideration received or receivable on the sale of part exchange properties.
Revenue relating to the provision of internet services is recognised as the service is provided.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-307": { "value": "
Government grants
Grants are included within work in progress in the balance sheet and are credited to the statement of comprehensive
income over the life of the developments to which they relate. Grants related to income are deducted from the related
expense in the statement of comprehensive income. For the year ended 31 December 2023, no material government
grants were received.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-312": { "value": "
Other operating income
Other operating income comprises profits from the sale of land holdings, freehold reversions, rent receivable and other
incidental sundry income.
", "dimensions": { "concept": "persimmonplc:DescriptionOfAccountingPolicyForOtherOperatingIncome", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-313": { "value": "
Operating expenses
Operating expenses represent the administration costs of the business, which are written off to the statement of
comprehensive income as incurred.
", "dimensions": { "concept": "persimmonplc:DescriptionOfAccountingPolicyForOperatingExpenses", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-308": { "value": "
Borrowing costs
Interest bearing bank loans and partnership liabilities are initially measured at fair value (being proceeds received, net
of direct issue costs) and are subsequently measured at amortised cost, using the effective interest rate method. Finance
charges, including direct issue costs, are accounted for and taken to the statement of comprehensive income using the
effective interest rate method.
Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets
that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of
those assets, until such time as the assets are substantially ready for their intended use or sale.
Where bank agreements include a legal right of offset for in hand and overdraft balances, and the Group intends to
settle the net outstanding position, the offset arrangements are applied to record the net position in the balance sheet.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-309": { "value": "
Exceptional items
Exceptional items are items of income and expenditure that, in the judgement of management, should be disclosed
separately on the basis that they are material, either by their nature or their size, to an understanding of the financial
performance and significantly distort the comparability of financial performance between accounting periods. Items of
income or expense that are considered by management for designation as exceptional include such items as major
restructuring and significant impairment of assets.
During 2022 the charge of \u00a3275.0m relating to the increase of the Group\u2019s legacy buildings provision was disclosed
as an exceptional item due to the non-recurring nature and scale of the charge. Further details on this provision are
found in notes 3 and 22.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExceptionalItemsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-315": { "value": "
Share-based payments
Charges for employee services received in exchange for share-based payment have been made for all options/
awards in accordance with IFRS 2 Share-based Payment, to spread the fair value of the grant over the anticipated
vesting period.
The fair value of such options has been calculated using generally accepted option pricing models, based upon
publicly available market data at the point of grant. Share options include both market and non-market conditions.
Market conditions are considered in the establishment of the initial valuation of the options. In the event of failure to
meet market conditions share-based payment charges are not reversed. In the event of failure to meet non-market
conditions share-based payment charges are reversed.
Where options are net settled in respect of withholding tax obligations, these are accounted for as equity settled
transactions. Payments to HMRC are accounted for as a deduction from equity for the shares withheld, except to the
extent (if any) that the payment exceeds the fair value of shares withheld, in which case the excess will be charged to
the statement of comprehensive income.
Share-based payments are charged wholly in the ultimate Parent Company.
Retirement benefit costs
The Group operates two defined benefit pension schemes. It also operates two defined contribution schemes for
employees who are not members of a defined benefit scheme. The asset/liability in respect of the defined benefit
schemes is the present value of the defined benefit obligation at the balance sheet date, less the fair value of the
schemes\u2019 assets, together with adjustments for remeasurement gains and losses. Where a net asset results it is limited
to the present value of economic benefits available in the form of future refunds from the scheme or reductions in future
contributions, subject to any minimum funding requirements. Further details of the schemes and the valuation methods
applied may be found in note 28.
Interest cost on the scheme liabilities and finance returns on scheme assets are recognised at the applicable discount
rate as net finance income/costs in the statement of comprehensive income and remeasurement gains and losses via
the statement of other comprehensive income.
Subsidiary entities bear a charge for current employees based upon their current pensionable salaries. Differences
between this charge and the current service cost are borne by the Company as the legal sponsor, as are all experience
gains and losses. There is no contractual arrangement or stated policy for recharging the other Group entities involved
in the schemes.
Payments to the defined contribution schemes are accounted for on an accruals basis. Once the payments have been
made, the Group has no further payment obligations.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-365": { "value": "Share-based payments Charges for employee services received in exchange for share-based payment have been made for all options/ awards in accordance with IFRS 2 Share-based Payment, to spread the fair value of the grant over the anticipated vesting period. The fair value of such options has been calculated using generally accepted option pricing models, based upon publicly available market data at the point of grant. Share options include both market and non-market conditions. Market conditions are considered in the establishment of the initial valuation of the options. In the event of failure to meet market conditions share-based payment charges are not reversed. In the event of failure to meet non-market conditions share-based payment charges are reversed. Where options are net settled in respect of withholding tax obligations, these are accounted for as equity settled transactions. Payments to HMRC are accounted for as a deduction from equity for the shares withheld, except to the extent (if any) that the payment exceeds the fair value of shares withheld, in which case the excess will be charged to the statement of comprehensive income. Share-based payments are charged wholly in the ultimate Parent Company. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-317": { "value": "
Taxation
Income tax on the profit for the year comprises current and deferred tax. Income tax is recognised in the statement of
comprehensive income except to the extent that it relates to items recognised directly in equity, in which case it is
recognised in equity.
Current tax is the expected tax payable on the taxable income for the year, using enacted or substantially enacted tax
rates, and adjusted for any tax payable in respect of previous years. The Group assesses its exposure to Pillar Two
income taxes based on the most recent information available from tax filings and financial statements, and takes into
account known changes in the Group and its operations.
Deferred tax is provided using the balance sheet liability method, providing for temporary differences between the
carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes.
The following temporary differences are not provided for: goodwill, the initial recognition of assets or liabilities that
affect neither accounting or taxable profit, and differences relating to investment in subsidiaries to the extent that they
will probably not reverse in the foreseeable future.
The amount of deferred tax provided is based on the carrying amount of assets and liabilities, using the tax rates
applicable, or expected to be applicable at the date of settlement, based on enacted rates at the balance sheet date.
Where the deferred tax asset recognised in respect of share-based payments would give rise to a credit in excess of
the related accounting charge at the prevailing tax rate the excess is recognised directly in equity. A deferred tax asset
is recognised only to the extent that it is probable that future taxable profits will be available against which the asset
can be utilised. Deferred tax assets are reviewed at each balance sheet date. Deferred tax assets and liabilities are
offset when there is a legally enforceable right to set off current tax assets against current tax liabilities when the Group
intends to settle its current tax assets and liabilities on a net basis. In July 2023, the UK Endorsement Board adopted
\u2018International Tax Reform\u2014Pillar Two Model Rules (Amendments to IAS 12) as issued by the IASB. The Amendments
introduce a temporary mandatory exception from accounting for deferred taxes arising from the Pillar Two model rules,
effective immediately and retrospectively, and the Group has applied this exception.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-367": { "value": "Taxation Income tax on the profit for the year comprises current and deferred tax. Income tax is recognised in the statement of comprehensive income except to the extent that it relates to items recognised directly in equity, in which case it is recognised in equity. Current tax is the expected tax payable on the taxable income for the year, using enacted or substantially enacted tax rates, and adjusted for any tax payable in respect of previous years. The Group assesses its exposure to Pillar Two income taxes based on the most recent information available from tax filings and financial statements, and takes into account known changes in the Group and its operations. Deferred tax is provided using the balance sheet liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. The following temporary differences are not provided for: goodwill, the initial recognition of assets or liabilities that affect neither accounting or taxable profit, and differences relating to investment in subsidiaries to the extent that they will probably not reverse in the foreseeable future. The amount of deferred tax provided is based on the carrying amount of assets and liabilities, using the tax rates applicable, or expected to be applicable at the date of settlement, based on enacted rates at the balance sheet date. Where the deferred tax asset recognised in respect of share-based payments would give rise to a credit in excess of the related accounting charge at the prevailing tax rate the excess is recognised directly in equity. A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reviewed at each balance sheet date. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities when the Group intends to settle its current tax assets and liabilities on a net basis. In July 2023, the UK Endorsement Board adopted \u2018International Tax Reform\u2014Pillar Two Model Rules (Amendments to IAS 12) as issued by the IASB. The Amendments introduce a temporary mandatory exception from accounting for deferred taxes arising from the Pillar Two model rules, effective immediately and retrospectively, and the Group has applied this exception. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-318": { "value": "Leases The Group recognises right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised and any initial direct costs incurred. Right of use assets are depreciated on a straight line basis over the shorter of the lease term and the estimated useful lives of the assets (2-30 years). The Group applies the short-term lease exemption and the low value asset recognition exemption to leases that have a lease term of 12 months or less from commencement date or are considered to be low value. Lease payments on short-term leases or leases of low value assets are charged to work in progress or operating expenses on a straight line basis over the lease term ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-366": { "value": "
Property, plant and equipment
It is the Group\u2019s policy to hold property, plant and equipment at cost less accumulated depreciation, subject to the
requirement to test assets for impairment.
Depreciation on property, plant and equipment is provided using the straight line method to write off the cost less any estimated residual value, over the estimated useful lives on the following bases: Plant and equipment \u2013 3 to 5 years. Fixtures and fittings \u2013 3 to 5 years. Owned utility infrastructure \u2013 15 to 40 years. Freehold buildings \u2013 50 years. No depreciation is provided on freehold land. The assets\u2019 useful economic lives and residual values are reviewed and adjusted, if appropriate, at each financial year end. An impairment loss is recognised for the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-316": { "value": "Property, plant and equipment It is the Group\u2019s policy to hold property, plant and equipment at cost less accumulated depreciation, subject to the requirement to test assets for impairment. Depreciation on property, plant and equipment is provided using the straight line method to write off the cost less any estimated residual value, over the estimated useful lives on the following bases: Plant and equipment \u2013 3 to 5 years. Fixtures and fittings \u2013 3 to 5 years. Owned utility infrastructure \u2013 15 to 40 years. Freehold buildings \u2013 50 years. No depreciation is provided on freehold land. The assets\u2019 useful economic lives and residual values are reviewed and adjusted, if appropriate, at each financial year end. An impairment loss is recognised for the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-389": { "value": "Property, plant and equipment It is the Group\u2019s policy to hold property, plant and equipment at cost less accumulated depreciation, subject to the requirement to test assets for impairment. Depreciation on property, plant and equipment is provided using the straight line method to write off the cost less any estimated residual value, over the estimated useful lives on the following bases: Plant and equipment \u2013 3 to 5 years. Fixtures and fittings \u2013 3 to 5 years. Owned utility infrastructure \u2013 15 to 40 years. Freehold buildings \u2013 50 years. No depreciation is provided on freehold land. The assets\u2019 useful economic lives and residual values are reviewed and adjusted, if appropriate, at each financial year end. An impairment loss is recognised for the amount by which the asset\u2019s carrying amount exceeds its recoverable amount. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-321": { "value": "Investments Interests in subsidiary undertakings are valued at cost less impairment. Other investments are stated at fair value. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-320": { "value": "Joint ventures and associates A joint venture is an entity in which the Group holds an interest with one or more other parties where a contractual arrangement has established joint control over the entity, and where the arrangements entitle the Group to a share of the net assets of the entity. An associate is an entity in which the Group holds an interest with one or more other parties where it exerts significant influence, but not overall control, over the entity. Investments in joint ventures and associates are accounted for under the equity method of accounting. Joint operations A joint operation is an arrangement or entity in which the Group holds an interest with one or more other parties where a contractual arrangement has established joint control over the operation and where the arrangements entitle the Group to rights over specific assets or obligations of the operation. The Group recognises its share of revenue, costs, assets and liabilities for its joint operations. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-390": { "value": "Joint ventures and associates A joint venture is an entity in which the Group holds an interest with one or more other parties where a contractual arrangement has established joint control over the entity, and where the arrangements entitle the Group to a share of the net assets of the entity. An associate is an entity in which the Group holds an interest with one or more other parties where it exerts significant influence, but not overall control, over the entity. Investments in joint ventures and associates are accounted for under the equity method of accounting. Joint operations A joint operation is an arrangement or entity in which the Group holds an interest with one or more other parties where a contractual arrangement has established joint control over the operation and where the arrangements entitle the Group to rights over specific assets or obligations of the operation. The Group recognises its share of revenue, costs, assets and liabilities for its joint operations. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-368": { "value": "Joint operations A joint operation is an arrangement or entity in which the Group holds an interest with one or more other parties where a contractual arrangement has established joint control over the operation and where the arrangements entitle the Group to rights over specific assets or obligations of the operation. The Group recognises its share of revenue, costs, assets and liabilities for its joint operations. ", "dimensions": { "concept": "persimmonplc:DescriptionOfAccountingPolicyForJointOperations", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-322": { "value": "Shared equity loan receivables Receivables on extended terms granted as part of a sales transaction are secured by way of a second legal charge on the respective property. The loans are classified as financial assets held at fair value through profit or loss and are carried in the balance sheet at fair value with net changes in fair value recognised in the statement of comprehensive income as described in note 17. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-319": { "value": "Inventories Inventories are stated at the lower of cost and net realisable value. Land with planning includes undeveloped land and land under development and is initially recorded at discounted cost. Where, through deferred purchase credit terms, the carrying value differs from the amount that will ultimately be paid in settling the liability, this difference is charged as a finance cost in the statement of comprehensive income over the period of settlement. Work in progress comprises direct materials, labour costs, site overheads, associated professional charges and other attributable overheads. Net realisable value represents the estimated selling prices less all estimated costs of completion and overheads.
Investments in land without the benefit of a planning consent are initially included at cost. Regular reviews are carried
out to identify any impairment in the value of the land considering the existing use value of the land and the likelihood
of achieving a planning consent and the value thereof. Provision is made to reflect any irrecoverable amounts.
Expenditure relating to forward land, including options and fees, is held at cost. If the option expires or the Directors
no longer consider it likely that the option will be exercised prior to the securing of planning permission, the amount is
written off on that date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-327": { "value": "
Impairment of financial assets
The Group recognises an allowance for expected credit losses for all debt instruments not held at fair value through
profit and loss. Expected credit losses are based on the difference between the contracted cash flows due in
accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation
of the original effective interest rate.
For trade receivables and, in the Parent Company, intercompany receivables, the Group applies a simplified approach
in calculating expected credit losses. The Group does not track changes in credit risk, but instead recognises a loss
allowance based on lifetime expected credit losses at each balance sheet date.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-370": { "value": "Inter-Group guarantees The Company enters into financial guarantee contracts to guarantee the indebtedness of other companies within the Group. These have been of insignificant value in the year ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialGuaranteesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-328": { "value": "Inter-Group guarantees The Company enters into financial guarantee contracts to guarantee the indebtedness of other companies within the Group. These have been of insignificant value in the year Interest bearing borrowings Interest bearing borrowings and partnership liabilities are carried at amortised cost. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-323": { "value": "
Trade and other payables
Trade payables on normal terms are not interest bearing and are stated at amortised cost. Trade payables on extended
terms, particularly in respect of land purchases, are initially recorded at their fair value and subsequently measured at
amortised cost using the effective interest method.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-324": { "value": "
Provisions
Provisions are recognised when the Group has a present commitment as a result of a past event and it is probable that
an outflow of resources embodying economic benefits will be required to settle that commitment. Provisions are
measured at the Directors\u2019 best estimate of the expenditure required to settle the commitment at the balance sheet date
and are discounted to present value where the effect is material.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-326": { "value": "
Deposits
New property deposits and on account contract receipts are held within current trade and other payables until the
legal completion of the related property or cancellation of the sale.
", "dimensions": { "concept": "persimmonplc:DescriptionOfAccountingPolicyForDeposits", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-325": { "value": "
Cash and cash equivalents
Cash and cash equivalents include cash and balances in the bank accounts with no notice or less than three months\u2019
notice from inception, and are subject to insignificant risk of changes in value.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-369": { "value": "
Interest bearing borrowings
Interest bearing borrowings and partnership liabilities are carried at amortised cost.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-391": { "value": "Interest bearing borrowings Interest bearing borrowings and partnership liabilities are carried at amortised cost. ", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-329": { "value": "
Dividends
Dividends receivable by the Parent Company from subsidiaries are accounted for on a cash basis, or once formally
approved by the shareholders of the subsidiary companies. These cash flows are treated as operating cash flows on
the basis that the Parent Company\u2019s underlying activities includes receiving dividends from its subsidiaries.
Dividends payable are recorded in the period in which they are approved or paid, whichever is earliest.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-330": { "value": "
Own shares held
The Group may acquire holdings in its own shares either directly or via employee benefit trusts. The acquisition cost of
such shares (including associated purchase costs) is treated as a deduction from retained earnings. Such shares may
be used in satisfaction of employee options or rights, in which case the cost of such shares is reversed from the retained
earnings on a \u2018first in first out\u2019 basis.
Transactions of the Company sponsored EBT are treated as being those of the Company and are therefore reflected in
the Company financial statements. In particular, the trust\u2019s purchases and sales of shares in the Company are debited
and credited directly to equity.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-332": { "value": "
Prior year restatement
The Parent Company prior year cash flow has been restated to correct the presentation of dividends received. The
dividends received from wholly owned subsidiaries (\u00a3600m) is now included separately as an adjustment in the
reconciliation of profit before tax to the cash inflow from operating activities, and then reflected as a separate line item
within operating cash flows in line with IAS 7.31. This resulted in cash inflows from operating activities (subtotal)
decreasing from \u00a3613.1m to \u00a313.1m, but no changes to net cash (outflow)/inflow from operating activities (subtotal),
which remains at \u00a3300.3m. This restatement has no impact on the net assets or profit for the year for the Parent Company.
", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureAmountAndCorrectionOfAccountingErrorsInPriorPeriodsEstimate", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-371": { "value": "Prior year restatement The Parent Company prior year cash flow has been restated to correct the presentation of dividends received. The dividends received from wholly owned subsidiaries (\u00a3600m) is now included separately as an adjustment in the reconciliation of profit before tax to the cash inflow from operating activities, and then reflected as a separate line item within operating cash flows in line with IAS 7.31. This resulted in cash inflows from operating activities (subtotal) decreasing from \u00a3613.1m to \u00a313.1m, but no changes to net cash (outflow)/inflow from operating activities (subtotal), which remains at \u00a3300.3m. This restatement has no impact on the net assets or profit for the year for the Parent Company.", "dimensions": { "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-331": { "value": "
3 Critical accounting judgements and key sources of
estimation uncertainty
In applying the Group\u2019s accounting policies which are described in note 2, the Directors have made no individual
judgements that have a significant impact upon the financial statements, excepting those involving estimation which
are dealt with below. The key sources of estimation uncertainty at the balance sheet date are:
Pensions
The Directors have employed the services of a qualified, independent actuary in assessing pension assets/liabilities.
However, they recognise that final liabilities and asset returns may differ from actuarial estimates and therefore the
ultimate pension asset/liability may differ from that included in the financial statements. For further information on the
estimates used, please refer to note 28.
Land and work in progress
Given the high quality of the Group\u2019s inventory asset base, the sensitivity of the assumptions used in assessing the
net realisable value (\u2018NRV\u2019) of the Group\u2019s inventories is relatively low. As such no reasonably possible change in
assumptions is likely to result in a material impact to the carrying value of the Group\u2019s land and work in progress
balance within the next 12 months. The disclosure below provides additional insight into the carrying value of the
Group\u2019s land and work in progress.
Valuations of the Group\u2019s developments, which include an estimation of costs to complete and anticipated revenues,
are carried out at regular intervals throughout the year. The valuations allocate total expected site development costs
between units built in the current year and those to be built in future years. These valuations therefore include a degree
of uncertainty when estimating the profitability of a site and in assessing any impairment provision which may be required.
During the year ended 31 December 2023, the Group conducted reviews of the NRV of its development land and
work in progress carrying values. The reviews were conducted on a site by site basis, using assumptions surrounding
anticipated selling prices and the level of future development costs, based on local management and the Board\u2019s
assessment of market conditions existing at the balance sheet date.
As noted above, the sensitivity of these assumptions to inventory carrying value is relatively low. However, the most
sensitive assumption relates to the consideration of the Group\u2019s average selling price prognosis \u2013 for example, the
Directors have modelled a scenario involving an immediate and enduring reduction in Group average selling price of
20% across each plot in the Group\u2019s land holdings (it is important to note that the enduring nature of this assumption
would present unusually unique circumstances when considered in the context of the UK housing market). Such a
scenario would not result in a material adjustment to the carrying value of the Group\u2019s inventory. Given these factors,
the Board does not believe that a reasonably possible change in the assumptions could result in a material impairment
of land and work in progress carrying values in the next 12 months. Cost of materials and labour have been included in
the assessment of sensitivity and are considered to be immaterial in the valuation of the Group\u2019s inventory.
If there are significant movements in UK house prices or development costs, beyond management\u2019s reasonably
possible expectations, then further impairments of land and work in progress may be necessary.
Provisions
The Group holds a provision of \u00a3283.2m (2022: \u00a3333.3m) based on management\u2019s best estimates of the costs of
completing works to ensure fire safety on affected buildings under direct ownership, and to work with and support
owners and other relevant stakeholders on buildings it has developed. The prior year provision represented
management\u2019s best estimate of the liability based on the information available at that point. During 2022 we signed the
Building Safety Pledge (England) and worked constructively with the Government to agree the \u2018Long\u2013Form Contract\u2019
that turned the pledge into a legal agreement. The Self Remediation Contract was signed on 13 March 2023. As we
have worked through this process we have identified further eligible multi-storey developments requiring remediation
for which we will be liable, and developed a more detailed understanding of remediation costs.
The number of developments we are responsible for has increased and now stands at 82 (2022: 73) (of which 39 have
now either secured EWS1 certificates or concluded any necessary works).
These estimates may change over time as further information is assessed, remedial works progress, the interpretation
of fire safety regulations further evolves and further developments requiring remediation works are potentially identified.
The assessment of the provision remains a highly complex area with judgements and estimates in respect of the costs
of remedial works to be incurred. In addition we have also assumed that VAT is not recoverable based on current
guidance from HMRC. Whilst we have exercised our best judgement in these matters, there remains the potential for
variations to this estimate from multiple factors such as material, energy and labour cost inflation, limited qualified
contractor availability and abnormal works identified on intrusive surveys. Should a 20% variation in the costs of
untendered projects occur then the overall provision would vary by +/- \u00a321.4m.
The following two areas of estimation uncertainty are not presented to comply with the requirements of paragraph 125
of IAS 1, Presentation of Financial Statements as it is not expected there is a significant risk of a material adjustment to
the carrying amount of assets within the next financial year. They are presented as an additional disclosure of estimate
used in these accounts.
Shared equity loan receivables
Shared equity loan receivables comprise loans granted as part of sales transactions that are secured by way of a
second legal charge on the respective property. The fair value of these receivables is determined by taking into account
factors such as the length of time that the loan has been outstanding, market conditions, including those in respect of
house price inflation, forced sale discount and probability of borrower default. The variables used are kept under
regular review to ensure that as far as possible they reflect current economic circumstances; however, changes in house
prices, redemption dates, interest rates, unemployment levels and bankruptcy trends in the UK could result in actual
returns differing from reported valuations. At 31 December 2023 the loan recognised on the balance sheet was
\u00a332.1m (2022: \u00a336.0m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-333": { "value": "
4 Principal activities
The Group has only one reportable operating segment, being housebuilding within the UK, under the control of the
Executive Board. The Executive Board has been identified as the Chief Operating Decision Maker as defined under
IFRS 8 Operating Segments.
", "dimensions": { "concept": "persimmonplc:DisclosureOfPrincipalActivities", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-3": { "value": "The Group has only one reportable operating segment, being housebuilding within the UK, under the control of the Executive Board. The Executive Board has been identified as the Chief Operating Decision Maker as defined under IFRS 8 Operating Segments.", "dimensions": { "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-334": { "value": "
5 Revenue
An analysis of the Group\u2019s revenue is as follows:
2023 2022
\u00a3m \u00a3m
Revenue from the sale of new housing - private
2,195.1
3,313.8
Revenue from the sale of new housing - housing association
342.5
382.6
Revenue from the sale of new housing - total
2,537.6
3,696.4
Revenue from the sale of part exchange properties
223.7
110.6
Revenue from the provision of internet services
11 . 9
8.8
Revenue from the sale of goods and services as reported in the statement of
comprehensive income
2,773.2
3,815.8
Other operating income
8.6
10.3
Finance income
19.7
9.9
2,801.5
3,836.0
Revenue from the sale of new housing includes \u00a3282.5m (2022: \u00a3142.2m) in respect of the value of properties accepted
in part exchange by the Group. Of this \u00a3114.6m (2022: \u00a361.0m) is reported within inventories at 31 December
", "dimensions": { "concept": "ifrs-full:DisclosureOfRevenueExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-335": { "value": "
6 Exceptional items
During 2022 the Group recognised an exceptional charge of \u00a3275.0m in relation to the increase in the anticipated
costs of the Group\u2019s commitments to support leaseholders in buildings we had developed with the costs of removal
of combustible cladding and other fire related remediation works. This reflected the extended commitment of the
Government Long-Form Contract, the identification of further developments for which we are now responsible, and
a greater understanding of remediation costs. Further detail on this matter is provided in notes 3 and 22.
This was disclosed as an exceptional item due to the non-recurring nature and scale of the charge, in order to aid
understanding of the financial performance of the Group and to assist in the comparability of financial performance
between accounting periods.
", "dimensions": { "concept": "persimmonplc:DisclosureOfExceptionalItems", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-336": { "value": "
7 Key management remuneration
Key management personnel, as disclosed under IAS 24 Related Party Disclosures, have been identified as the Board of
Directors. Detailed disclosures of individual remuneration, pension entitlements and share options, for those Directors
who served during the year, are given in the Annual Report on Remuneration on pages 124 to 143. A summary of key
management remuneration is as follows:
2023 2022
\u00a3m \u00a3m
Short-term benefits
2.8
3.2
Termination benefits
\u2014
\u2014
Share-based payments
0.8
4.2
3.6
7. 4
Total gains on exercise of options by key management in the year amount to \u00a30.2m (2022: \u00a31.0m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-337": { "value": "
8 Employees
Group
The average monthly number of persons (including Executive Directors) employed by the Group during the year was
5,186 (2022: 5,862).
2023 2022
\u00a3m \u00a3m
Staff costs (for the above persons):
Wages and salaries
265.5
249.7
Social security costs
29.1
29.2
Pensions charge
6.8
5.4
Share-based payments
1.2
7.5
302.6
291. 8
The Group also uses the services of a substantial number of self-employed labour-only site operatives.
Company
The average monthly number of persons (including Executive Directors) employed by the Company during the year was
545 (2022: 497).
2023 2022
\u00a3m \u00a3m
Staff costs (for the above persons):
Wages and salaries
47.5
41.1
Social security costs
5.9
5.5
Pensions charge
1.4
0.4
Share-based payments
0.5
7.5
55.3
54.5
", "dimensions": { "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-338": { "value": "
9 Net finance income
2023 2022
\u00a3m \u00a3m
Recognised in profit after tax
Interest receivable on bank deposits
9.1
2.3
Gains on shared equity loan receivables
1.6
3.9
Net interest on pension asset
7.4
2.8
Other interest receivable
1.6
0.9
Finance income
19.7
9.9
Interest expense on bank overdrafts and loans
2.5
0.5
Imputed interest on deferred land payables
6.0
1.8
Imputed interest on legacy building provision
4.3
\u2014
Interest on partnership liability
1.1
1.3
Other interest payable
0.9
0.5
Finance costs
14.8
4.1
Net finance income
4.9
5.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-415": { "value": "9 Net finance income
2023 2022
\u00a3m \u00a3m
Recognised in profit after tax
Interest receivable on bank deposits
9.1
2.3
Gains on shared equity loan receivables
1.6
3.9
Net interest on pension asset
7.4
2.8
Other interest receivable
1.6
0.9
Finance income
19.7
9.9
Interest expense on bank overdrafts and loans
2.5
0.5
Imputed interest on deferred land payables
6.0
1.8
Imputed interest on legacy building provision
4.3
\u2014
Interest on partnership liability
1.1
1.3
Other interest payable
0.9
0.5
Finance costs
14.8
4.1
Net finance income
4.9
5.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-411": { "value": "9 Net finance income
2023 2022
\u00a3m \u00a3m
Recognised in profit after tax
Interest receivable on bank deposits
9.1
2.3
Gains on shared equity loan receivables
1.6
3.9
Net interest on pension asset
7.4
2.8
Other interest receivable
1.6
0.9
Finance income
19.7
9.9
Interest expense on bank overdrafts and loans
2.5
0.5
Imputed interest on deferred land payables
6.0
1.8
Imputed interest on legacy building provision
4.3
\u2014
Interest on partnership liability
1.1
1.3
Other interest payable
0.9
0.5
Finance costs
14.8
4.1
Net finance income
4.9
5.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-405": { "value": "9 Net finance income
2023 2022
\u00a3m \u00a3m
Recognised in profit after tax
Interest receivable on bank deposits
9.1
2.3
Gains on shared equity loan receivables
1.6
3.9
Net interest on pension asset
7.4
2.8
Other interest receivable
1.6
0.9
Finance income
19.7
9.9
Interest expense on bank overdrafts and loans
2.5
0.5
Imputed interest on deferred land payables
6.0
1.8
Imputed interest on legacy building provision
4.3
\u2014
Interest on partnership liability
1.1
1.3
Other interest payable
0.9
0.5
Finance costs
14.8
4.1
Net finance income
4.9
5.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-392": { "value": "9 Net finance income
2023 2022
\u00a3m \u00a3m
Recognised in profit after tax
Interest receivable on bank deposits
9.1
2.3
Gains on shared equity loan receivables
1.6
3.9
Net interest on pension asset
7.4
2.8
Other interest receivable
1.6
0.9
Finance income
19.7
9.9
Interest expense on bank overdrafts and loans
2.5
0.5
Imputed interest on deferred land payables
6.0
1.8
Imputed interest on legacy building provision
4.3
\u2014
Interest on partnership liability
1.1
1.3
Other interest payable
0.9
0.5
Finance costs
14.8
4.1
Net finance income
4.9
5.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-372": { "value": "9 Net finance income
2023 2022
\u00a3m \u00a3m
Recognised in profit after tax
Interest receivable on bank deposits
9.1
2.3
Gains on shared equity loan receivables
1.6
3.9
Net interest on pension asset
7.4
2.8
Other interest receivable
1.6
0.9
Finance income
19.7
9.9
Interest expense on bank overdrafts and loans
2.5
0.5
Imputed interest on deferred land payables
6.0
1.8
Imputed interest on legacy building provision
4.3
\u2014
Interest on partnership liability
1.1
1.3
Other interest payable
0.9
0.5
Finance costs
14.8
4.1
Net finance income
4.9
5.8
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-339": { "value": "
10 Profit from operations
2023 2022
\u00a3m \u00a3m
Profit from operations is stated after charging/(crediting):
Staff costs (note 8)
302.6
291. 8
Profit on sale of land holdings
(4.2)
(5.3)
Government grants
(0.6)
(0.5)
Rent receivable
(3.4)
(3.4)
Profit on sale of property, plant and equipment
(0.9)
(0.8)
Depreciation of owned assets
18.7
15.8
Impairment of intangible assets
7.6
6.6
The Group did not receive any new Government grants in either year; however, the Group\u2019s customers have benefited
from the availability of finance through the Government\u2019s \u2018Help to Buy\u2019 scheme which has provided indirect assistance
to the Group.
Amounts payable to the auditor, Ernst & Young LLP, and their associates in respect of:
2023 2022
\u00a3000 \u00a3000
Audit fees
Audit of the Parent Company and consolidated financial statements
787
506
Audit of the Company\u2019s subsidiaries pursuant to legislation
30
25
Total fees for the audit of the Company and its subsidiaries
817
5 31
Non-audit fees
Audit related assurance services
75
70
Non-audit related fees
77
57
Total non-audit fees
152
127
969
658
The extent of non-audit fees and non-audit related service fees payable to Ernst & Young LLP and its affiliated entities
is reviewed by the Audit & Risk Committee in the context of fees paid by the Group to its other advisors during the year.
The Committee also reviews the nature and extent of non-audit services to ensure that independence is maintained.
Fees to major firms of accountants other than Ernst & Young LLP and its affiliated entities for non-audit services
amounted to \u00a31,063,154 (2022: \u00a3656,285).
", "dimensions": { "concept": "ifrs-full:DisclosureOfProfitLossFromOperatingActivitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-416": { "value": "10 Profit from operations
2023 2022
\u00a3m \u00a3m
Profit from operations is stated after charging/(crediting):
Staff costs (note 8)
302.6
291. 8
Profit on sale of land holdings
(4.2)
(5.3)
Government grants
(0.6)
(0.5)
Rent receivable
(3.4)
(3.4)
Profit on sale of property, plant and equipment
(0.9)
(0.8)
Depreciation of owned assets
18.7
15.8
Impairment of intangible assets
7.6
6.6
The Group did not receive any new Government grants in either year; however, the Group\u2019s customers have benefited from the availability of finance through the Government\u2019s \u2018Help to Buy\u2019 scheme which has provided indirect assistance to the Group. Amounts payable to the auditor, Ernst & Young LLP, and their associates in respect of:
2023 2022
\u00a3000 \u00a3000
Audit fees
Audit of the Parent Company and consolidated financial statements
787
506
Audit of the Company\u2019s subsidiaries pursuant to legislation
30
25
Total fees for the audit of the Company and its subsidiaries
817
5 31
Non-audit fees
Audit related assurance services
75
70
Non-audit related fees
77
57
Total non-audit fees
152
127
969
658
The extent of non-audit fees and non-audit related service fees payable to Ernst & Young LLP and its affiliated entities is reviewed by the Audit & Risk Committee in the context of fees paid by the Group to its other advisors during the year. The Committee also reviews the nature and extent of non-audit services to ensure that independence is maintained. Fees to major firms of accountants other than Ernst & Young LLP and its affiliated entities for non-audit services amounted to \u00a31,063,154 (2022: \u00a3656,285).", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-412": { "value": "10 Profit from operations
2023 2022
\u00a3m \u00a3m
Profit from operations is stated after charging/(crediting):
Staff costs (note 8)
302.6
291. 8
Profit on sale of land holdings
(4.2)
(5.3)
Government grants
(0.6)
(0.5)
Rent receivable
(3.4)
(3.4)
Profit on sale of property, plant and equipment
(0.9)
(0.8)
Depreciation of owned assets
18.7
15.8
Impairment of intangible assets
7.6
6.6
The Group did not receive any new Government grants in either year; however, the Group\u2019s customers have benefited from the availability of finance through the Government\u2019s \u2018Help to Buy\u2019 scheme which has provided indirect assistance to the Group. Amounts payable to the auditor, Ernst & Young LLP, and their associates in respect of:
2023 2022
\u00a3000 \u00a3000
Audit fees
Audit of the Parent Company and consolidated financial statements
787
506
Audit of the Company\u2019s subsidiaries pursuant to legislation
30
25
Total fees for the audit of the Company and its subsidiaries
817
5 31
Non-audit fees
Audit related assurance services
75
70
Non-audit related fees
77
57
Total non-audit fees
152
127
969
658
The extent of non-audit fees and non-audit related service fees payable to Ernst & Young LLP and its affiliated entities is reviewed by the Audit & Risk Committee in the context of fees paid by the Group to its other advisors during the year. The Committee also reviews the nature and extent of non-audit services to ensure that independence is maintained. Fees to major firms of accountants other than Ernst & Young LLP and its affiliated entities for non-audit services amounted to \u00a31,063,154 (2022: \u00a3656,285).", "dimensions": { "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-406": { "value": "10 Profit from operations
2023 2022
\u00a3m \u00a3m
Profit from operations is stated after charging/(crediting):
Staff costs (note 8)
302.6
291. 8
Profit on sale of land holdings
(4.2)
(5.3)
Government grants
(0.6)
(0.5)
Rent receivable
(3.4)
(3.4)
Profit on sale of property, plant and equipment
(0.9)
(0.8)
Depreciation of owned assets
18.7
15.8
Impairment of intangible assets
7.6
6.6
The Group did not receive any new Government grants in either year; however, the Group\u2019s customers have benefited from the availability of finance through the Government\u2019s \u2018Help to Buy\u2019 scheme which has provided indirect assistance to the Group. Amounts payable to the auditor, Ernst & Young LLP, and their associates in respect of:
2023 2022
\u00a3000 \u00a3000
Audit fees
Audit of the Parent Company and consolidated financial statements
787
506
Audit of the Company\u2019s subsidiaries pursuant to legislation
30
25
Total fees for the audit of the Company and its subsidiaries
817
5 31
Non-audit fees
Audit related assurance services
75
70
Non-audit related fees
77
57
Total non-audit fees
152
127
969
658
The extent of non-audit fees and non-audit related service fees payable to Ernst & Young LLP and its affiliated entities is reviewed by the Audit & Risk Committee in the context of fees paid by the Group to its other advisors during the year. The Committee also reviews the nature and extent of non-audit services to ensure that independence is maintained. Fees to major firms of accountants other than Ernst & Young LLP and its affiliated entities for non-audit services amounted to \u00a31,063,154 (2022: \u00a3656,285).", "dimensions": { "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-373": { "value": "10 Profit from operations
2023 2022
\u00a3m \u00a3m
Profit from operations is stated after charging/(crediting):
Staff costs (note 8)
302.6
291. 8
Profit on sale of land holdings
(4.2)
(5.3)
Government grants
(0.6)
(0.5)
Rent receivable
(3.4)
(3.4)
Profit on sale of property, plant and equipment
(0.9)
(0.8)
Depreciation of owned assets
18.7
15.8
Impairment of intangible assets
7.6
6.6
The Group did not receive any new Government grants in either year; however, the Group\u2019s customers have benefited from the availability of finance through the Government\u2019s \u2018Help to Buy\u2019 scheme which has provided indirect assistance to the Group. Amounts payable to the auditor, Ernst & Young LLP, and their associates in respect of:
2023 2022
\u00a3000 \u00a3000
Audit fees
Audit of the Parent Company and consolidated financial statements
787
506
Audit of the Company\u2019s subsidiaries pursuant to legislation
30
25
Total fees for the audit of the Company and its subsidiaries
817
5 31
Non-audit fees
Audit related assurance services
75
70
Non-audit related fees
77
57
Total non-audit fees
152
127
969
658
The extent of non-audit fees and non-audit related service fees payable to Ernst & Young LLP and its affiliated entities is reviewed by the Audit & Risk Committee in the context of fees paid by the Group to its other advisors during the year. The Committee also reviews the nature and extent of non-audit services to ensure that independence is maintained. Fees to major firms of accountants other than Ernst & Young LLP and its affiliated entities for non-audit services amounted to \u00a31,063,154 (2022: \u00a3656,285).", "dimensions": { "concept": "ifrs-full:DisclosureOfExpensesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-393": { "value": "Amounts payable to the auditor, Ernst & Young LLP, and their associates in respect of:
2023 2022
\u00a3000 \u00a3000
Audit fees
Audit of the Parent Company and consolidated financial statements
787
506
Audit of the Company\u2019s subsidiaries pursuant to legislation
30
25
Total fees for the audit of the Company and its subsidiaries
817
5 31
Non-audit fees
Audit related assurance services
75
70
Non-audit related fees
77
57
Total non-audit fees
152
127
969
658
The extent of non-audit fees and non-audit related service fees payable to Ernst & Young LLP and its affiliated entities is reviewed by the Audit & Risk Committee in the context of fees paid by the Group to its other advisors during the year. The Committee also reviews the nature and extent of non-audit services to ensure that independence is maintained. Fees to major firms of accountants other than Ernst & Young LLP and its affiliated entities for non-audit services amounted to \u00a31,063,154 (2022: \u00a3656,285).", "dimensions": { "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-341": { "value": "
11 Ta x
11.1 Analysis of tax charge for the year
2023 2022
\u00a3m \u00a3m
Tax charge comprises:
UK corporation tax in respect of the current year
81.2
138.8
Residential Property Developer Tax (\u2018RPDT\u2019) in respect of the current year
13.0
28.7
Adjustments in respect of prior years
(0.2)
(2.8)
94.0
164.7
Deferred tax relating to origination and reversal of temporary differences
2.8
\u2014
Impact of introduction of RPDT on deferred tax
\u2014
3.9
Adjustments recognised in the current year in respect of prior year\u2019s deferred tax
(0.4)
1.1
2.4
5.0
Tax charge for the year recognised in statement of comprehensive income
96.4
169.7
The tax charge for the year can be reconciled to the accounting profit as follows:
2023 2022
\u00a3m \u00a3m
Profit from continuing operations
351.8
730.7
Tax calculated at UK corporation tax rate of 27.5% (inclusive of RPDT) (2022: 22%)
96.7
160.8
Goodwill impairment losses that are not deductible
1.8
1.2
Expenditure not allowable for tax purposes
0.9
0.8
Impact of RPDT on deferred tax introduction
\u2014
3.9
Items not deductible for RPDT
(0.6)
6.8
Enhanced tax reliefs
(1.8)
(2.1)
Adjustments in respect of prior years
(0.6)
(1.7)
Tax charge for the year recognised in statement of comprehensive income
96.4
169.7
The rate of tax for the year ended 31 December 2023, was 27.4% (2022: 23.2%), which was marginally below the
standard rate of corporation tax in the UK of 27.5% (including RPDT) (2022: 22%). The Group\u2019s tax charge and effective
rate of tax is expected to increase from 2024 to reflect the standard rate of taxes applying from 2024 of 29%, being the
corporation tax rate applicable for the full year of 25% and RPDT of 4%. The Group has assessed the impact of Pillar Two
legislation and does not expect a potential Pillar Two top-up tax exposure.
11.2 Deferred tax recognised in other comprehensive income (note 24)
2023 2022
\u00a3m \u00a3m
Recognised on remeasurement (loss)/gain on pension schemes
(9.8)
7.6
11.3 Tax recognised directly in equity
2023 2022
\u00a3m \u00a3m
Arising on transactions with equity participants
Current tax related to equity settled transactions
(0.6)
(0.8)
Deferred tax related to equity settled transactions (note 24)
(0.7)
4.2
(1.3)
3.4
24 Deferred tax The following are the deferred tax assets and liabilities recognised by the Group and the movements thereon during the current and prior year:
Accelerated Retirement Other
tax benefit Share-based Intangible temporary
depreciation obligation payment assets differences Total
Note \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 January 2022
0.3
(37.2)
7.6
(15.0)
(0.6)
(44.9)
(Charge)/credit to income
statement
11 . 1
(7.2)
(0.4)
1.5
(2.4)
3.7
(4.8)
Charge to other
comprehensive income
11 . 2
\u2014
(7.7)
\u2014
\u2014
\u2014
(7.7)
Amounts taken directly to equity
11 . 3
\u2014
\u2014
(4.2)
\u2014
\u2014
(4.2)
At 1 January 2023
(6.9)
(45.3)
4.9
(17.4)
3.1
(61.6)
(Charge)/credit to
income statement
11 . 1
(1.3)
(1.4)
0.8
\u2014
(0.4)
(2.3)
Credit to other comprehensive
income
11 . 2
\u2014
9.8
\u2014
\u2014
\u2014
9.8
Amounts taken directly to equity
11 . 3
\u2014
\u2014
0.7
\u2014
\u2014
0.7
At 31 December 2023
(8.2)
(36.9)
6.4
(17.4)
2.7
(53.4)
As permitted by IAS 12 Income Taxes, certain deferred tax assets and liabilities have been offset. The following is an analysis of the deferred tax balances (after offset) for financial reporting purposes:
2023 2022
\u00a3m \u00a3m
Share-based payments
6.4
4.9
Other items, including accelerated capital allowances
5.1
5.6
Deferred tax assets
11. 5
10.5
Brands
(17.4)
(17.4)
Other items, including accelerated capital allowances
(47.5)
(54.7)
Deferred tax liabilities
(64.9)
(72.1)
Net deferred tax liability
(53.4)
(61.6)
The Group has recognised deferred tax liabilities of \u00a336.9m (2022: liabilities of \u00a345.3m) on retirement benefit assets of \u00a3127.1m (2022: assets of \u00a3155.9m). The following are the deferred tax assets and liabilities recognised by the Company and the movements thereon during the current and prior year:
Accelerated Retirement Other
tax benefit Share-based temporary
depreciation obligation payment differences Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 January 2022
(0.2)
(37.2)
3.8
0.9
(32.7)
(Charge)/credit to income
statement
0.2
(0.4)
2.3
0.3
2.4
Charge to other
comprehensive income
\u2014
(7.7)
\u2014
\u2014
(7.7)
Amounts taken directly to equity
\u2014
\u2014
(3.4)
\u2014
(3.4)
At 1 January 2023
\u2014
(45.3)
2.7
1.2
(41.4)
(Charge)/credit to
income statement
(0.2)
(1.4)
0.8
(0.6)
(1.4)
Credit to other comprehensive
income
\u2014
9.8
\u2014
\u2014
9.8
Amounts taken directly to equity
\u2014
\u2014
0.2
\u2014
0.2
At 31 December 2023
(0.2)
(36.9)
3.7
0.6
(32.8)
No deferred tax assets and liabilities have been offset (2022: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-378": { "value": "11 Ta x 11.1 Analysis of tax charge for the year
2023 2022
\u00a3m \u00a3m
Tax charge comprises:
UK corporation tax in respect of the current year
81.2
138.8
Residential Property Developer Tax (\u2018RPDT\u2019) in respect of the current year
13.0
28.7
Adjustments in respect of prior years
(0.2)
(2.8)
94.0
164.7
Deferred tax relating to origination and reversal of temporary differences
2.8
\u2014
Impact of introduction of RPDT on deferred tax
\u2014
3.9
Adjustments recognised in the current year in respect of prior year\u2019s deferred tax
(0.4)
1.1
2.4
5.0
Tax charge for the year recognised in statement of comprehensive income
96.4
169.7
The tax charge for the year can be reconciled to the accounting profit as follows:
2023 2022
\u00a3m \u00a3m
Profit from continuing operations
351.8
730.7
Tax calculated at UK corporation tax rate of 27.5% (inclusive of RPDT) (2022: 22%)
96.7
160.8
Goodwill impairment losses that are not deductible
1.8
1.2
Expenditure not allowable for tax purposes
0.9
0.8
Impact of RPDT on deferred tax introduction
\u2014
3.9
Items not deductible for RPDT
(0.6)
6.8
Enhanced tax reliefs
(1.8)
(2.1)
Adjustments in respect of prior years
(0.6)
(1.7)
Tax charge for the year recognised in statement of comprehensive income
96.4
169.7
The rate of tax for the year ended 31 December 2023, was 27.4% (2022: 23.2%), which was marginally below the standard rate of corporation tax in the UK of 27.5% (including RPDT) (2022: 22%). The Group\u2019s tax charge and effective rate of tax is expected to increase from 2024 to reflect the standard rate of taxes applying from 2024 of 29%, being the corporation tax rate applicable for the full year of 25% and RPDT of 4%. The Group has assessed the impact of Pillar Two legislation and does not expect a potential Pillar Two top-up tax exposure. 11.2 Deferred tax recognised in other comprehensive income (note 24)
2023 2022
\u00a3m \u00a3m
Recognised on remeasurement (loss)/gain on pension schemes
(9.8)
7.6
11.3 Tax recognised directly in equity
2023 2022
\u00a3m \u00a3m
Arising on transactions with equity participants
Current tax related to equity settled transactions
(0.6)
(0.8)
Deferred tax related to equity settled transactions (note 24)
(0.7)
4.2
(1.3)
3.4
24 Deferred tax
The following are the deferred tax assets and liabilities recognised by the Group and the movements thereon during the
current and prior year:
Accelerated Retirement Other
tax benefit Share-based Intangible temporary
depreciation obligation payment assets differences Total
Note \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 January 2022
0.3
(37.2)
7.6
(15.0)
(0.6)
(44.9)
(Charge)/credit to income
statement
11 . 1
(7.2)
(0.4)
1.5
(2.4)
3.7
(4.8)
Charge to other
comprehensive income
11 . 2
\u2014
(7.7)
\u2014
\u2014
\u2014
(7.7)
Amounts taken directly to equity
11 . 3
\u2014
\u2014
(4.2)
\u2014
\u2014
(4.2)
At 1 January 2023
(6.9)
(45.3)
4.9
(17.4)
3.1
(61.6)
(Charge)/credit to
income statement
11 . 1
(1.3)
(1.4)
0.8
\u2014
(0.4)
(2.3)
Credit to other comprehensive
income
11 . 2
\u2014
9.8
\u2014
\u2014
\u2014
9.8
Amounts taken directly to equity
11 . 3
\u2014
\u2014
0.7
\u2014
\u2014
0.7
At 31 December 2023
(8.2)
(36.9)
6.4
(17.4)
2.7
(53.4)
As permitted by IAS 12 Income Taxes, certain deferred tax assets and liabilities have been offset. The following is an
analysis of the deferred tax balances (after offset) for financial reporting purposes:
2023 2022
\u00a3m \u00a3m
Share-based payments
6.4
4.9
Other items, including accelerated capital allowances
5.1
5.6
Deferred tax assets
11. 5
10.5
Brands
(17.4)
(17.4)
Other items, including accelerated capital allowances
(47.5)
(54.7)
Deferred tax liabilities
(64.9)
(72.1)
Net deferred tax liability
(53.4)
(61.6)
The Group has recognised deferred tax liabilities of \u00a336.9m (2022: liabilities of \u00a345.3m) on retirement benefit assets
of \u00a3127.1m (2022: assets of \u00a3155.9m).
The following are the deferred tax assets and liabilities recognised by the Company and the movements thereon during
the current and prior year:
Accelerated Retirement Other
tax benefit Share-based temporary
depreciation obligation payment differences Total
\u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
At 1 January 2022
(0.2)
(37.2)
3.8
0.9
(32.7)
(Charge)/credit to income
statement
0.2
(0.4)
2.3
0.3
2.4
Charge to other
comprehensive income
\u2014
(7.7)
\u2014
\u2014
(7.7)
Amounts taken directly to equity
\u2014
\u2014
(3.4)
\u2014
(3.4)
At 1 January 2023
\u2014
(45.3)
2.7
1.2
(41.4)
(Charge)/credit to
income statement
(0.2)
(1.4)
0.8
(0.6)
(1.4)
Credit to other comprehensive
income
\u2014
9.8
\u2014
\u2014
9.8
Amounts taken directly to equity
\u2014
\u2014
0.2
\u2014
0.2
At 31 December 2023
(0.2)
(36.9)
3.7
0.6
(32.8)
No deferred tax assets and liabilities have been offset (2022: \u00a3nil).", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-340": { "value": "
12 Dividends/return of capital
2023 2022
\u00a3m \u00a3m
Amounts recognised as distributions to capital holders in the period:
2021 dividend to all shareholders of 1 25p per share paid 2022
\u2014
399.0
2021 dividend to all shareholders of 1 10p per share paid 2022
\u2014
351. 1
2022 dividend to all shareholders of 60p per share paid 2023
191.5
\u2014
2023 dividend to all shareholders of 20p per share paid 2023
63.9
\u2014
Total capital return
255.4
750.1
The Directors propose to return 40p of surplus capital to shareholders for each ordinary share held on the register
on 21 June 2024 with payment made on 12 July 2024 as a final dividend in respect of the financial year ended
31 December 2023. The Directors do not intend to return any further surplus capital in respect of the financial year
31 December 2023. The total anticipated distributions to shareholders is 60p per share (2022: 60p per share) in
respect of the financial year ended 31 December 2023.
The Parent Company received \u00a3155.0m dividends from wholly owned subsidiary undertakings during 2023
(2022: \u00a3600.0m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfDividendsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-377": { "value": "1.25", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-376": { "value": "1.10", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2021-01-01T00:00:00/2022-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-375": { "value": "0.60", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2022-01-01T00:00:00/2023-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-374": { "value": "0.20", "decimals": 2, "dimensions": { "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00", "unit": "iso4217:GBP/xbrli:shares" } }, "fact-342": { "value": "
13 Earnings per share
Basic earnings per share is calculated by dividing the profit for the year attributable to ordinary shareholders by the
weighted average number of ordinary shares in issue during the year, excluding those held in the employee benefit
trusts (see note 25) and any treasury shares, all of which are treated as cancelled, which were 319.2m (2022: 319.2m).
Diluted earnings per share is calculated by dividing the profit for the year attributable to ordinary shareholders by the
weighted average number of ordinary shares in issue adjusted to assume conversion of all potentially dilutive ordinary
shares from the start of the year, giving a figure of 321.0m (2022: 321.8m).
Underlying earnings per share excludes the legacy buildings provision charge and goodwill impairment. The earnings
per share from continuing operations were as follows:
2023
2022
Basic earnings per share
80.0p
175.8p
Underlying basic earnings per share
82.4p
247.3p
Diluted earnings per share
79.5p
174.3p
Underlying diluted earnings per share
81.9p
245.3p
The calculation of the basic and diluted earnings per share is based upon the following data:
2023 2022
\u00a3m \u00a3m
Underlying earnings attributable to shareholders
263.0
789.5
Legacy buildings provision (net of tax)
\u2014
(221.9)
Goodwill impairment
(7.6)
(6.6)
Earnings attributable to shareholders
255.4
561.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-343": { "value": "
14 Intangible assets
Goodwill Brand Know-how Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 January 2022 and 1 January 2023
412.8
60.0
1.9
474.7
At 31 December 2023
412.8
60.0
1.9
474.7
Accumulated impairment
losses/amortisation
At 1 January 2022
293.2
\u2014
1.9
295.1
Impairment losses for the year \u2013 utilisation of
strategic land holdings
6.6
\u2014
\u2014
6.6
At 1 January 2023
299.8
\u2014
1.9
301.7
Impairment losses for the year - Horsebridge
acquisition
4.0
\u2014
\u2014
4.0
Impairment losses for the year \u2013 utilisation of
strategic land holdings
3.6
\u2014
\u2014
3.6
At 31 December 2023
307.4
\u2014
1.9
309.3
Carrying amount
At 31 December 2023
105.4
60.0
\u2014
165.4
At 31 December 2022
113.0
60.0
\u2014
173.0
Goodwill brought forward at the start of the year of \u00a3113.0m includes \u00a390.2m (2022: \u00a395.6m) which arose on
acquisitions before the date of transition to IFRSs and is retained at the previous UK GAAP amounts, subject to being
tested for impairment. \u00a337.0m (2022: \u00a337.0m) of this amount represented the brand value of Charles Church, acquired
with Beazer Group Plc in 2001.
On 6 May 2022 the Group acquired the entire share capital of Horsebridge Network Systems Limited for a
consideration of \u00a31. The fair value of the balance sheet on date of acquisition was a \u00a34.0m net liability. As a result
\u00a34.0m of goodwill arose on acquisition and was recognised in the Group\u2019s balance sheet at 31 December 2022.
During 2023 Horsebridge Network Systems Limited ceased trading. The \u00a34.0m goodwill arising on acquisition and
held on the balance sheet at 31 December 2022 has been fully written off in the current year.
Acquired brand values, including the brand value of Charles Church which is classified as goodwill as this was acquired
before the date of transition to IFRSs, are calculated based on discounted cash flows and are tested annually for
impairment. The remainder of goodwill is allocated to acquired strategic land holdings and is tested annually for impairment.
The recoverable amounts of the intangibles are determined from value in use calculations. Goodwill is allocated for
impairment testing purposes down to a lower level than the Group\u2019s single operating segment, being to Charles Church
and to the portfolios of strategic land holdings throughout the UK acquired with Beazer and Westbury. The key
assumptions for value in use calculations are those regarding discount and growth rates. Growth rates incorporate
volume, selling price and direct cost changes.
The Group prepares cash flow forecasts derived from the most recent financial forecasts approved by management
to form the basis of the Group\u2019s five-year business plan.
When performing the impairment review of the brands, the relevant retraction/growth rates included therein vary
between 5% and 9% (2022: 0% and 17%), reflecting the economic uncertainties associated with the ongoing war
in Ukraine and the cost of living crisis which is affecting the UK economy and the UK housing industry.
The retraction/growth rates in relation to the impairment review of goodwill allocated to strategic land holdings vary
between -5% and 2% (2022: 0% and 3%).
After this period the growth rates applied to calculate the cash flow forecasts vary between 1% and 2% (2022: 1% and
2%) reflecting management\u2019s estimate of the forecast recovery in the UK housing market, which do not exceed the
long-term average growth rates for the industry.
Management used pre-tax discount factors between 6% and 10% (2022: 5% and 9%) over the forecast periods.
The goodwill allocated to acquired strategic land holdings is further tested by reference to the proportion of legally
completed plots in the period compared to the total plots which are expected to receive satisfactory planning permission
in the remaining strategic land holdings, taking account of historical experience and market conditions. This review
resulted in an underlying impairment of \u00a33.6m (2022: \u00a36.6m). This charge reflects ongoing consumption of the
acquired strategic land holdings. The effect of testing goodwill for impairment in the manner set out is that the goodwill
will be completely impaired once the final plot for which management expects to receive a satisfactory planning
permission is sold. The timescale for full impairment to occur is difficult to calculate; however, based on current
estimates, it is believed this will take over 20 years.
On concluding the annual impairment testing, there remains \u00a350.0m (2022: \u00a353.2m) and \u00a318.5m (2022: \u00a318.9m)
of Beazer and Westbury goodwill allocated to strategic land holdings and \u00a337.0m (2022: \u00a337.0m) allocated to the
Charles Church brand. In addition, there is \u00a360.0m (2022: \u00a360.0m) of carrying value in relation to the Westbury brand.
No reasonable possible change in any of the assumptions noted above would lead to an impairment charge being
required. However, in the event of deterioration in the UK housing market conditions, operating margins reducing,
or appropriate discount rates increasing, the possibility of impairment losses in the future remains .
Total
Company \u00a3m
Cost
At 1 January 2022, 1 January 2023 and 31 December 2023
5.0
Amortisation
At 1 January 2022
4.5
Charge for the year
0.2
At 1 January 2023
4.7
Charge for the year
0.3
At 31 December 2023
5.0
Carrying amount
At 31 December 2023
\u2014
At 31 December 2022
0.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-394": { "value": "14 Intangible assets
Goodwill Brand Know-how Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 January 2022 and 1 January 2023
412.8
60.0
1.9
474.7
At 31 December 2023
412.8
60.0
1.9
474.7
Accumulated impairment
losses/amortisation
At 1 January 2022
293.2
\u2014
1.9
295.1
Impairment losses for the year \u2013 utilisation of
strategic land holdings
6.6
\u2014
\u2014
6.6
At 1 January 2023
299.8
\u2014
1.9
301.7
Impairment losses for the year - Horsebridge
acquisition
4.0
\u2014
\u2014
4.0
Impairment losses for the year \u2013 utilisation of
strategic land holdings
3.6
\u2014
\u2014
3.6
At 31 December 2023
307.4
\u2014
1.9
309.3
Carrying amount
At 31 December 2023
105.4
60.0
\u2014
165.4
At 31 December 2022
113.0
60.0
\u2014
173.0
Goodwill brought forward at the start of the year of \u00a3113.0m includes \u00a390.2m (2022: \u00a395.6m) which arose on acquisitions before the date of transition to IFRSs and is retained at the previous UK GAAP amounts, subject to being tested for impairment. \u00a337.0m (2022: \u00a337.0m) of this amount represented the brand value of Charles Church, acquired with Beazer Group Plc in 2001. On 6 May 2022 the Group acquired the entire share capital of Horsebridge Network Systems Limited for a consideration of \u00a31. The fair value of the balance sheet on date of acquisition was a \u00a34.0m net liability. As a result \u00a34.0m of goodwill arose on acquisition and was recognised in the Group\u2019s balance sheet at 31 December 2022. During 2023 Horsebridge Network Systems Limited ceased trading. The \u00a34.0m goodwill arising on acquisition and held on the balance sheet at 31 December 2022 has been fully written off in the current year. Acquired brand values, including the brand value of Charles Church which is classified as goodwill as this was acquired before the date of transition to IFRSs, are calculated based on discounted cash flows and are tested annually for impairment. The remainder of goodwill is allocated to acquired strategic land holdings and is tested annually for impairment. The recoverable amounts of the intangibles are determined from value in use calculations. Goodwill is allocated for impairment testing purposes down to a lower level than the Group\u2019s single operating segment, being to Charles Church and to the portfolios of strategic land holdings throughout the UK acquired with Beazer and Westbury. The key assumptions for value in use calculations are those regarding discount and growth rates. Growth rates incorporate volume, selling price and direct cost changes. The Group prepares cash flow forecasts derived from the most recent financial forecasts approved by management to form the basis of the Group\u2019s five-year business plan. When performing the impairment review of the brands, the relevant retraction/growth rates included therein vary between 5% and 9% (2022: 0% and 17%), reflecting the economic uncertainties associated with the ongoing war in Ukraine and the cost of living crisis which is affecting the UK economy and the UK housing industry. The retraction/growth rates in relation to the impairment review of goodwill allocated to strategic land holdings vary between -5% and 2% (2022: 0% and 3%). After this period the growth rates applied to calculate the cash flow forecasts vary between 1% and 2% (2022: 1% and 2%) reflecting management\u2019s estimate of the forecast recovery in the UK housing market, which do not exceed the long-term average growth rates for the industry. Management used pre-tax discount factors between 6% and 10% (2022: 5% and 9%) over the forecast periods. The goodwill allocated to acquired strategic land holdings is further tested by reference to the proportion of legally completed plots in the period compared to the total plots which are expected to receive satisfactory planning permission in the remaining strategic land holdings, taking account of historical experience and market conditions. This review resulted in an underlying impairment of \u00a33.6m (2022: \u00a36.6m). This charge reflects ongoing consumption of the acquired strategic land holdings. The effect of testing goodwill for impairment in the manner set out is that the goodwill will be completely impaired once the final plot for which management expects to receive a satisfactory planning permission is sold. The timescale for full impairment to occur is difficult to calculate; however, based on current estimates, it is believed this will take over 20 years. On concluding the annual impairment testing, there remains \u00a350.0m (2022: \u00a353.2m) and \u00a318.5m (2022: \u00a318.9m) of Beazer and Westbury goodwill allocated to strategic land holdings and \u00a337.0m (2022: \u00a337.0m) allocated to the Charles Church brand. In addition, there is \u00a360.0m (2022: \u00a360.0m) of carrying value in relation to the Westbury brand. No reasonable possible change in any of the assumptions noted above would lead to an impairment charge being required. However, in the event of deterioration in the UK housing market conditions, operating margins reducing, or appropriate discount rates increasing, the possibility of impairment losses in the future remains
Total
Company \u00a3m
Cost
At 1 January 2022, 1 January 2023 and 31 December 2023
5.0
Amortisation
At 1 January 2022
4.5
Charge for the year
0.2
At 1 January 2023
4.7
Charge for the year
0.3
At 31 December 2023
5.0
Carrying amount
At 31 December 2023
\u2014
At 31 December 2022
0.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoodwillExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-379": { "value": "14 Intangible assets
Goodwill Brand Know-how Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 January 2022 and 1 January 2023
412.8
60.0
1.9
474.7
At 31 December 2023
412.8
60.0
1.9
474.7
Accumulated impairment
losses/amortisation
At 1 January 2022
293.2
\u2014
1.9
295.1
Impairment losses for the year \u2013 utilisation of
strategic land holdings
6.6
\u2014
\u2014
6.6
At 1 January 2023
299.8
\u2014
1.9
301.7
Impairment losses for the year - Horsebridge
acquisition
4.0
\u2014
\u2014
4.0
Impairment losses for the year \u2013 utilisation of
strategic land holdings
3.6
\u2014
\u2014
3.6
At 31 December 2023
307.4
\u2014
1.9
309.3
Carrying amount
At 31 December 2023
105.4
60.0
\u2014
165.4
At 31 December 2022
113.0
60.0
\u2014
173.0
Goodwill brought forward at the start of the year of \u00a3113.0m includes \u00a390.2m (2022: \u00a395.6m) which arose on acquisitions before the date of transition to IFRSs and is retained at the previous UK GAAP amounts, subject to being tested for impairment. \u00a337.0m (2022: \u00a337.0m) of this amount represented the brand value of Charles Church, acquired with Beazer Group Plc in 2001. On 6 May 2022 the Group acquired the entire share capital of Horsebridge Network Systems Limited for a consideration of \u00a31. The fair value of the balance sheet on date of acquisition was a \u00a34.0m net liability. As a result \u00a34.0m of goodwill arose on acquisition and was recognised in the Group\u2019s balance sheet at 31 December 2022. During 2023 Horsebridge Network Systems Limited ceased trading. The \u00a34.0m goodwill arising on acquisition and held on the balance sheet at 31 December 2022 has been fully written off in the current year. Acquired brand values, including the brand value of Charles Church which is classified as goodwill as this was acquired before the date of transition to IFRSs, are calculated based on discounted cash flows and are tested annually for impairment. The remainder of goodwill is allocated to acquired strategic land holdings and is tested annually for impairment. The recoverable amounts of the intangibles are determined from value in use calculations. Goodwill is allocated for impairment testing purposes down to a lower level than the Group\u2019s single operating segment, being to Charles Church and to the portfolios of strategic land holdings throughout the UK acquired with Beazer and Westbury. The key assumptions for value in use calculations are those regarding discount and growth rates. Growth rates incorporate volume, selling price and direct cost changes. The Group prepares cash flow forecasts derived from the most recent financial forecasts approved by management to form the basis of the Group\u2019s five-year business plan. When performing the impairment review of the brands, the relevant retraction/growth rates included therein vary between 5% and 9% (2022: 0% and 17%), reflecting the economic uncertainties associated with the ongoing war in Ukraine and the cost of living crisis which is affecting the UK economy and the UK housing industry. The retraction/growth rates in relation to the impairment review of goodwill allocated to strategic land holdings vary between -5% and 2% (2022: 0% and 3%). After this period the growth rates applied to calculate the cash flow forecasts vary between 1% and 2% (2022: 1% and 2%) reflecting management\u2019s estimate of the forecast recovery in the UK housing market, which do not exceed the long-term average growth rates for the industry. Management used pre-tax discount factors between 6% and 10% (2022: 5% and 9%) over the forecast periods. The goodwill allocated to acquired strategic land holdings is further tested by reference to the proportion of legally completed plots in the period compared to the total plots which are expected to receive satisfactory planning permission in the remaining strategic land holdings, taking account of historical experience and market conditions. This review resulted in an underlying impairment of \u00a33.6m (2022: \u00a36.6m). This charge reflects ongoing consumption of the acquired strategic land holdings. The effect of testing goodwill for impairment in the manner set out is that the goodwill will be completely impaired once the final plot for which management expects to receive a satisfactory planning permission is sold. The timescale for full impairment to occur is difficult to calculate; however, based on current estimates, it is believed this will take over 20 years. On concluding the annual impairment testing, there remains \u00a350.0m (2022: \u00a353.2m) and \u00a318.5m (2022: \u00a318.9m) of Beazer and Westbury goodwill allocated to strategic land holdings and \u00a337.0m (2022: \u00a337.0m) allocated to the Charles Church brand. In addition, there is \u00a360.0m (2022: \u00a360.0m) of carrying value in relation to the Westbury brand. No reasonable possible change in any of the assumptions noted above would lead to an impairment charge being required. However, in the event of deterioration in the UK housing market conditions, operating margins reducing, or appropriate discount rates increasing, the possibility of impairment losses in the future remains .
Total
Company \u00a3m
Cost
At 1 January 2022, 1 January 2023 and 31 December 2023
5.0
Amortisation
At 1 January 2022
4.5
Charge for the year
0.2
At 1 January 2023
4.7
Charge for the year
0.3
At 31 December 2023
5.0
Carrying amount
At 31 December 2023
\u2014
At 31 December 2022
0.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-344": { "value": "
15 Property, plant and equipment
Land and Fixtures and
buildings Plant fittings Total
Group \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 January 2022
50.1
126.0
29.6
205.7
Additions
5.1
27.1
3.3
35.5
Disposals
(0.6)
(4.5)
(1.0)
(6.1)
At 1 January 2023
54.6
148.6
31. 9
235.1
Additions
5.6
17. 5
17.6
40.7
Disposals
\u2014
(9.3)
(1.8)
(11.1)
At 31 December 2023
60.2
156.8
47.7
264.7
Accumulated depreciation
At 1 January 2022
9.5
78.7
18.5
106.7
Charge for the year
1.7
12.0
2.1
15.8
Disposals
(0.4)
(4.6)
(1.0)
(6.0)
At 1 January 2023
10.8
86.1
19.6
116.5
Charge for the year
2.4
11 . 6
4.7
18.7
Disposals
\u2014
(9.2)
(1.8)
(11.0)
At 31 December 2023
13.2
88.5
22.5
124.2
Carrying amount
At 31 December 2023
47.0
68.3
25.2
140.5
At 31 December 2022
43.8
62.5
12.3
118.6
At 31 December 2023, the Group had \u00a313.9m contractual commitments for the acquisition of property, plant and
equipment (2022: \u00a320.1m).
Within additions for the year are \u00a34.5m of right of use assets (2022: \u00a35.4m). At 31 December 2023 a right of use asset
of \u00a312.3m is reported within property, plant and equipment (2022: \u00a310.7m).
Land and Fixtures and
buildings Plant fittings Total
Company \u00a3m \u00a3m \u00a3m \u00a3m
Cost
At 1 January 2022
2.1
1.1
5.7
8.9
Additions
0.7
0.4
1.4
2.5
At 1 January 2023
2.8
1.5
7.1
11 . 4
Additions
\u2014
0.6
4.6
5.2
Disposals
\u2014
(0.1)
(0.8)
(0.9)
At 31 December 2023
2.8
2.0
10.9
15.7
Accumulated depreciation
At 1 January 2022
0.7
0.7
4.7
6.1
Charge for the year
0.1
0.3
0.6
1.0
At 1 January 2023
0.8
1.0
5.3
7.1
Charge for the year
0.1
0.4
0.7
1.2
Disposals
\u2014
(0.1)
(0.8)
(0.9)
At 31 December 2023
0.9
1.3
5.2
7.4
Carrying amount
At 31 December 2023
1.9
0.7
5.7
8.3
At 31 December 2022
2.0
0.5
1.8
4.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-345": { "value": "
16 Investments
16.1 Investments accounted for using the equity method
Investments
Investments in joint
in associates ventures
\u00a3m \u00a3m
Cost
At 1 January 2022 and 1 January 2023
\u2014
0.3
New investments in the year
0.7
\u2014
Distributions
\u2014
\u2014
At 31 December 2023
0.7
0.3
Investments in associates and joint ventures are accounted for under the equity method of accounting. All principal joint
ventures have a single external partner holding a 50% interest giving an equal interest in the trade and net assets of the
joint ventures. There are no significant restrictions on these entities.
During the year the Group has invested \u00a30.7m in the equity of a new associate, TopHat Enterprises Limited (\u2018TopHat\u2019).
In addition to this equity investment the Group has acquired \u00a36.8m of interest bearing long-term loan notes issued by
TopHat. These are reported within non-current trade and other receivables at 31 December 2023. The Group has also
committed to acquire a further \u00a317.5m of interest bearing long-term loan notes from TopHat in January 2024.
The Group\u2019s share of assets and liabilities of joint ventures is shown below:
2023 2022
\u00a3m \u00a3m
Non-current assets
0.8
0.1
Current assets
0.2
0.2
Current liabilities
\u2014
\u2014
Net assets of joint ventures
1.0
0.3
16.2 Investments in subsidiaries
2023 2022
\u00a3m \u00a3m
Cost
At 1 January 2022, 31 December 2022 and 31 December 2023
3,540.7
3,540.7
Impairment
At 1 January 2022, 31 December 2022 and 31 December 2023
335.0
335.0
Net book value
At 1 January 2022, 31 December 2022 and 31 December 2023
3,205.7
3,205.7
The annual review of the carrying value of the investment in subsidiaries saw the group undertake an impairment review
to ensure the carrying value of the investment was supportable. This resulted in \u00a3nil impairment issues (2022: \u00a3nil
impairment). Details of Group undertakings are set out in notes 32 and 33.
34 Details of all subsidiary undertakings
Persimmon Group subsidiary companies
The following companies, included in these consolidated accounts, are wholly owned by the Persimmon Group and are
incorporated in the UK unless otherwise stated. Persimmon Plc or its subsidiary companies also hold all of the voting
rights unless otherwise stated. The Registered Office for each company is Persimmon House, Fulford, York, YO19 4FE
unless otherwise stated.
Name of undertaking
Description of shares held
@Home Limited
Ordinary* and 3.5% Preference*
A.E.A Prowting Limited
Ordinary*
A Monk & Company Developments (S.W.) Limited
Ordinary* and Deferred*
Name of undertaking
Description of shares held
Alford Brothers Limited
Ordinary*
Anjok 157 Limited
Ordinary*
Anjok 171 Limited Ordinary*
Anjok 172 Limited
Ordinary*
Anjok 173 Limited
Ordinary*
Anjok 269 Limited Ordinary* and Deferred*
Anjok 28 Limited
Ordinary* and 8% Preference*
Anjok 31 Limited
Ordinary*
Anjok Five (1996) Limited
Ordinary*
Anjok Holdings Limited
Ordinary* and Deferred*
Anjok Investments Limited
Ordinary*
Anjok Twenty Limited A Ordinary* and B Ordinary*
Anjok Two Limited
Ordinary*
Aria Homes Limited
A Ordinary* and B Ordinary*
Arthur S Nixon and Company
1% Non-Cumulative Preference* and Ordinary*
Aspect Homes Limited
Ordinary*
Atlantis One Limited
Ordinary* and Preference*
Beazer Group Limited
Ordinary*
Beazer Homes (Anglia) Limited
Deferred* and A Ordinary*
Beazer Homes (Barry) Limited
Ordinary*
Beazer Homes (FLE) Limited
A Ordinary* and B Ordinary*
Beazer Homes (FNLHS) Limited
Ordinary*
Beazer Homes (South Wales) Limited
Ordinary*
Beazer Homes (Wessex) Limited
Ordinary*
Beazer Homes and Property Limited
Ordinary*
Beazer Homes Bedford Limited
Deferred* and A Ordinary*
Beazer Homes Birmingham Central Limited
Deferred* and A Ordinary*
Beazer Homes Bridgwater Limited
Deferred* and A Ordinary*
Beazer Homes Bristol Limited
Deferred* and A Ordinary*
Beazer Homes Cardiff Limited
Deferred* and A Ordinary*
Beazer Homes Doncaster Limited
Deferred* and A Ordinary*
Beazer Homes Edinburgh Limited Deferred* and A Ordinary*
Beazer Homes Glasgow Limited Deferred* and A Ordinary*
1
1
1
1
1
Name of undertaking
Description of shares held
Beazer Homes Limited
Ordinary*, Deferred* and A Ordinary*
Beazer Homes Nottingham Limited
Ordinary*
Beazer Homes Reigate Limited
Ordinary*
Beazer Homes Stockport Limited
Deferred* and A Ordinary*
Beazer Homes Yateley Limited
Deferred* and A Ordinary*
Beazer London Limited
Ordinary*
Beazer Partnership Homes (Scotland) Limited Ordinary*
Beazer Partnership Homes Midlands Limited
Ordinary*
Beazer Swaffham Limited
Ordinary*
Beazer Urban Developments (Anglia) Limited
Deferred* and A Ordinary*
Beazer Urban Developments (Bedford) Limited
Ordinary*
Beazer Urban Developments (East Midlands) Limited
Ordinary*
Beazer Urban Developments (South West) Limited
Ordinary*
Beazer Western Engineering Services Limited
Ordinary*
Belsco 1020 Limited Ordinary*
Breakblock Limited
Ordinary*
Broomco (3385) Limited
Ordinary*
Bruce Fletcher (Leicester) Limited
Ordinary*
Charles Church Civil Engineering Limited
Ordinary*
Charles Church Developments Limited
Ordinary*
Charles Church Essex Limited
Ordinary*
Charles Church Estates Limited
Ordinary*
Charles Church Holdings plc
A Convertible Ordinary*, B Ordinary*, B Redeemable
Preference*, C Preference*, D Ordinary*, D Preference*,
Deferred*, E Deferred*, E Ordinary* and Preference*
Charles Church Housing Limited
Ordinary*
Charles Church Investment Properties Limited
Ordinary*
Charles Church Kent Limited
Ordinary*
Charles Church Limited
Ordinary*
Charles Church London Limited
Ordinary*
Charles Church Management Limited
Ordinary*
Charles Church Partnership Homes Limited
Ordinary*
Charles Church Residential Developments Limited
Ordinary*
1 1
Name of undertaking
Description of shares held
Charles Church South East Limited
Ordinary*
Charles Church Southern Limited
Ordinary*
Charles Church Thames Valley Limited
Ordinary*
Charles Church Trading Limited
Ordinary*
Charles Church Village Heritage plc
Ordinary*
Coatglade Limited
Ordinary*
Comben Group Limited
A Deferred Ordinary, B Deferred Ordinary and Ordinary
Cresswellshawe Properties Limited
Ordinary* and 3.5% Preference*
Crowther Homes (Darlington) Limited
Ordinary*
Crowther Homes (Midland) Limited
Ordinary*
Crowther Homes (Nat W) Limited
Ordinary*
Crowther Homes (Yarm) Limited
Ordinary*
Crowther Homes Limited
Ordinary*
D Dunk (Builders) Limited
Ordinary*
D R Dunthorn & Son Limited
Deferred*, Deferred* and Ordinary*
Datblygwyr Dorothea Limited (94% of nominal value owned)
Ordinary*
Delany Brothers (Housebuilders) Limited
Ordinary* and Preference*
Domus Group Limited
Deferred*, Deferred* and A Ordinary*
E.E. Reed & Co. (Builders) Limited
Ordinary*
E F G H Limited
Ordinary*
E F G H Nominees Limited
Ordinary*
Emerson Park Limited
Ordinary*
F C Spear Limited
Ordinary*
Ferry Quay Developments Limited
A Ordinary*, B Ordinary* and C Ordinary*
Flex Fibre Limited
Ordinary*
FibreNest Limited
Ordinary*
FibreScale Limited
Ordinary*
Frays Property Management (No.1) Limited
Ordinary*
Frays Property Management (No.2) Limited
Ordinary*
Frays Property Management (No.6) Limited
Ordinary*
Friary Homes Limited
Ordinary*
Galliford Developments Limited
Ordinary*
Name of undertaking
Description of shares held
Galliford Homes (London) Limited
A Ordinary* and B Ordinary*
Galliford Homes Holdings Limited
A Ordinary*, B Ordinary* and Preference*
Galliford Homes Limited
Ordinary*
Galliford Properties Southern Limited
Ordinary*
Galliford Southern Limited
Ordinary*
Geo. Wright & Co. (Contractors Wolverhampton) Limited
Deferred*, A Deferred* and A Ordinary*
Glamford Building Company Limited
Ordinary*
Gomersal Mills Limited
Deferred* and Ordinary*
Gosforth Business Park Management Company (No.2) Limited
Ordinary*
Haven Retirement Homes Limited
Ordinary*
Hazels Development Company Limited
A Ordinary* and B Ordinary*
Hillreed Developments Limited
Ordinary*
Hillreed Holdings Limited
Ordinary*, Management Shares* and Cumulative Preference*
Hillreed Homes Limited
Ordinary*
Hillreed Properties Limited
Ordinary*
Horsebridge Network Systems Limited
A Ordinary*
Ideal Developments Limited
Ordinary*
Ideal Homes (UK) Limited
Ordinary*
Ideal Homes Anglia Limited
Ordinary*
Ideal Homes Central Limited
A Non-Voting Ordinary* and B Ordinary*
Ideal Homes Holdings Limited
Deferred and Ordinary
Ideal Homes Limited
Ordinary*
Ideal Homes Midlands Limited
Ordinary*
Ideal Homes North West Limited
Ordinary*
Ideal Homes Northern Limited
Ordinary*
Ideal Homes Scotland Limited
Ordinary*
Ideal Homes Services Limited
Ordinary*
Ideal Homes Southern Limited
Ordinary*
J.W. Liptrot & Company Limited
Ordinary*
Jaboulet Limited
Ordinary*
John Maunders Group Limited
Ordinary*
Kenton Contracting (Yorkshire) Limited
Ordinary*
Name of undertaking
Description of shares held
Kenton Contractors (Yorkshire) Limited
Ordinary*
Kenton Homes (Builders) Limited
Ordinary*
Kenton Homes (Developments) Limited
Ordinary*
Kenton Homes (Estates) Limited
Ordinary*
Knightsmoor Homes Limited
Ordinary*
Lady\u2019s Lane Property Co. Limited
Ordinary*
Lansdown Homes Limited
Ordinary*
Lazy Acre Investments Limited
Ordinary*
Leech Homes (Showhouses) Limited
Ordinary*, 0.1% Non-Cumulative Preference A* and 1%
Non-Cumulative Preference B*
Leech Homes (Wales) Limited
Ordinary*
Leech Homes (Yorkshire) Limited
Ordinary*
Leech Homes Limited
Deferred* and A Ordinary*
Leech Northumbria Limited
Ordinary*
Leech Partnership Homes Limited
Ordinary*
Leisurama Homes Limited
Ordinary*
Linkway Properties Limited
Ordinary*
Locking Castle Limited
A Ordinary*, B Ordinary* and C Ordinary*
Magnus Design Build Limited
Ordinary*
Magnus Holdings Limited
A Ordinary*, B Ordinary*, C Ordinary*, Enduring
Ordinary* and Cumulative Redeemable Preference*
Mapleleigh Limited
Ordinary*
Marriott Homes Limited
Ordinary*
Maunders Homes (East Anglia) Limited
Ordinary*
Maunders Homes (Midlands) Limited
Ordinary*
Maunders Homes (North West) Limited
Ordinary*
Maunders Homes (South) Limited
Ordinary*
Maunders Inner City Limited
Ordinary*
Maunders Urban Renewal Limited
Ordinary*
Mayclose Research Limited
Ordinary*
Melville Homes Limited
A Ordinary*, B Ordinary*, C Ordinary*, Deferred*
and Cumulative Redeemable Preference*
Name of undertaking
Description of shares held
Merewood (Kendal) Limited
Ordinary*
Merewood Group Limited
Ordinary*
Merewood Homes Limited
Ordinary*
Merewood Investments Limited
Ordinary*
Mightover Limited
Ordinary
Milton Keynes Housing Group Limited
Ordinary*
Mitrebuild Limited
Ordinary* and Deferred Ordinary*
Monk Homes Limited
Ordinary*
Monsell Youell Construction Limited
Ordinary*
Monsell Youell Limited
Deferred* and A Ordinary*
Montague Developments Limited
Ordinary*
Mount Row Finance Limited
Ordinary*
Mount Row Securities Limited
Ordinary*
NGP Management Company Residential (Cell C) Limited
2
Ordinary*
Pacemaker Developments Limited
Ordinary*
Park House Developments (Petersfield) Limited
Ordinary*
Partnership Homes Limited
Ordinary*
Pennant Developments Limited
Ordinary* and 5% Non-Cumulative Preference*
Pentra Limited
Ordinary*
Perlease Limited
Ordinary*
Persimmon (City Developments) Limited
Ordinary*
Persimmon (Eccleshall) Limited
Ordinary*
Persimmon (Share Scheme Trustees) Limited
Ordinary
Persimmon (SHL) Limited
Ordinary*
Persimmon (Strensall) Limited
Ordinary*
Persimmon Brickworks Limited
Ordinary*
Persimmon Developments (No 1) Limited
Ordinary*
Persimmon Developments (No 2) Limited
Ordinary*
Persimmon Developments (Didcot) Limited
Ordinary*
Persimmon Developments (No 5) Limited
Ordinary*
Persimmon Developments (No 6) Limited
Ordinary*
Persimmon Developments (No 7) Limited
Ordinary*
Name of undertaking
Description of shares held
Persimmon DN Limited (incorporated in Ireland) Ordinary*
Persimmon Finance (Jersey) Limited (incorporated in Jersey) Ordinary
Persimmon Finance (No 2) Limited
Ordinary
Persimmon Finance Limited
Ordinary
Persimmon Harts Limited
Ordinary
Persimmon GR (No 4) Limited
Ordinary*
Persimmon GR (No 11) Limited
Ordinary*
Persimmon GR (No 12) Limited
Ordinary*
Persimmon GR (No 13) Limited
Ordinary*
Persimmon GR (No 14) Limited
Ordinary*
Persimmon GR (No 15) Limited
Ordinary*
Persimmon GR (No 16) Limited
Ordinary*
Persimmon GR (No 17) Limited
Ordinary*
Persimmon Holdings Limited
Ordinary and A Ordinary*
Persimmon Homes (Anglia) Limited
Ordinary*
Persimmon Homes (Doncaster) Limited
Ordinary*
Persimmon Homes (East Midlands) Limited
Ordinary*
Persimmon Homes (East Scotland) Limited
Ordinary*
Persimmon Homes (East Yorkshire) Limited
Ordinary*
Persimmon Homes (Edmonstone) Limited
Ordinary
Persimmon Homes (Essex) Limited
Deferred* and A Ordinary*
Persimmon Homes (Lancashire) Limited
Ordinary*
Persimmon Homes (Mercia) Limited
Ordinary*
Persimmon Homes (Midlands) Limited
Ordinary*
Persimmon Homes (North East) Limited
Ordinary*
Persimmon Homes (North Midlands) Limited
Ordinary*
Persimmon Homes (North West) Limited
Ordinary*
Persimmon Homes (Partnerships) Limited
Ordinary
Persimmon Homes (South Coast) Limited
Ordinary*
Persimmon Homes (South East) Limited
Ordinary*
Persimmon Homes (South Midlands) Limited
Deferred* and A Ordinary*
Persimmon Homes (South West) Limited
Ordinary*
3 4
Name of undertaking
Description of shares held
Persimmon Homes (South Yorkshire) Limited
Ordinary*
Persimmon Homes (Teesside) Limited
Ordinary*
Persimmon Homes (Thames Valley) Limited
Ordinary*
Persimmon Homes (Wales) Limited
Ordinary*
Persimmon Homes (Wessex) Limited
Ordinary*
Persimmon Homes (West Midlands) Limited
Deferred* and A Ordinary*
Persimmon Homes (West Scotland) Limited
Ordinary*
Persimmon Homes (West Yorkshire) Limited
Ordinary*
Persimmon Homes (Woodley) Limited
Ordinary
Persimmon Homes (York) Limited
Ordinary
Persimmon Homes (Yorkshire) Limited
Deferred* and Ordinary*
Persimmon Homes Developments Limited
Ordinary
Persimmon Homes Limited
Ordinary*
Persimmon Partnerships (Scotland) Limited
Ordinary*
Persimmon Pension Trustees Limited
Ordinary
Persimmon Residential Limited
Ordinary*
Persimmon SC (No 1) Limited
Ordinary*
Persimmon SC (No 2) Limited
Ordinary*
Persimmon SC (No 3) Limited
Ordinary*
Persimmon SC (No 4) Limited
Ordinary*
Persimmon SC (No 5) Limited
Ordinary*
Persimmon SC (No 6) Limited
Ordinary*
Persimmon Scottish Limited Partnership** n/a
Persimmon Scottish Pension Trustees Limited Ordinary
Persimmon Shared Equity Limited
Ordinary
Persimmon Tileworks Limited
Ordinary*
Persimmon Trustees Limited
Ordinary
Pinnacle Developments (Scotland) Limited Ordinary*
Practical Finance Co. Limited
Ordinary*
Prowting Homes Anglia Limited
B Ordinary*, C Ordinary* and D Ordinary*
Prowting Homes Central Limited
Ordinary*
1
1
1
Name of undertaking
Description of shares held
Prowting Homes Chatsworth Limited
Ordinary*
Prowting Homes Limited
Ordinary*
Prowting Homes Ludlow Limited
Ordinary*
Prowting Homes Midlands Limited
Ordinary*
Prowting Homes South East Limited
Ordinary*
Prowting Homes South West Limited
Ordinary*
Prowting Homes West Limited
Ordinary*
Prowting Homes Wolds Limited
Ordinary*
Prowting Limited
Ordinary*
Prowting Projects Limited
Ordinary*
Prowting Properties Limited
Ordinary*
Repac Homes Limited
Ordinary*
SLB Construction Management Limited
Ordinary*
Second City Homes Limited
Deferred* and A Ordinary*
Senator Homes Limited
Ordinary*
Sequoia Developments Limited
Ordinary*
Severnbrook Homes Limited
Ordinary*
Sherbourne Properties (Warwick) Limited
Ordinary*
Space4 Limited
Ordinary*
Springfir Estates Limited
Ordinary*
Springfir Holdings Limited
Ordinary*
Steelhaven (7) Limited
Ordinary* and 1% Non-Cumulative Redeemable
Participating Preference*
Tamborough Developments Limited
Ordinary*
Tela Properties Limited
Ordinary*
The Charles Church Group Limited
A Ordinary*
The Charles Church Group Share Trustees Limited
Ordinary*
Townedge (Holdings) Limited
Ordinary*
Townedge Estates Limited
Ordinary*
Trent Park Regeneration Limited
A Ordinary* and B Ordinary*
Tryall Developments Limited
Ordinary*
Name of undertaking
Description of shares held
Tudor Jenkins & Company Limited
Ordinary*
Walker Homes (Scotland) Limited Ordinary*
Wardour Limited (Incorporated in Gibraltar) Ordinary*
Wenshaw Limited
Ordinary*
Wescott Holdings Limited
Ordinary*
Wescott Homes Limited
Ordinary*
Wescott Land Limited
Ordinary*
Westbury Direct Limited
Ordinary*
Westbury Homes (Holdings) Limited
Irredeemable Preference*, Ordinary*, Deferred*
and 9.25% Preference*
Westbury Homes (Midlands) Limited
Ordinary*
Westbury Homes (Oval) Limited
Ordinary*
Westbury Homes (Severnside) Limited
Ordinary*
Westbury Homes (Somerset) Limited
Ordinary*
Westbury Homes (South West) Limited
Ordinary*
Westbury Homes (Stadium) Limited
Ordinary*
Westbury Homes (Venymore) Limited
A Ordinary* and B Ordinary*
Westbury Homes (Wales) Limited
Ordinary*
Westbury Homes (West Midlands) Limited
Ordinary*
Westbury Homes Limited
Ordinary*
Westbury Housing Investments Limited
Ordinary*
Westbury Limited
Ordinary
William Leech Builders (North West) Limited
Ordinary*
William Leech Limited
Ordinary* and 6.5% Cumulative Preference*
1
5
Joint arrangements
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Beechpath Limited
Ordinary
50%
50%
Bentwaters Housing Limited
Ordinary
50%
50%
Bentwaters Nominees Limited
Ordinary
50%
50%
Coton Park Consortium Limited
WD
50%
25%
6
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Cramlington Developments Limited
A Ordinary
100%
50%
Genesis Estates (Manchester) Limited
Ordinary
50%
50%
Gosforth Business Park Management Company Limited
A Ordinary
100%
33.3%
Haydon Development Company Limited
Ordinary
20.5%
20.5%
Leebell Developments Limited
A Ordinary
100%
50%
Newcastle Great Park (Estates) Limited
A Ordinary
100%
50%
North Haven Developments (Sunderland) Limited
B Ordinary
100%
50%
North Swindon Development Company Limited
Ordinary
15 %
15 %
Oxfordshire Land Limited
Ordinary
33.3%
33.3%
Quedgeley Urban Village Limited
C Ordinary
100%
25%
Rothley Temple Estates Limited
Ordinary
28.5%
28.5%
Sociedade Torre de Marinha Realizacoes Turisticas SA
(incorporated in Portugal)
Ordinary
50%
50%
Trafalgar Metropolitan Homes Limited
A Ordinary
100%
50%
Triumphdeal Limited
Ordinary
50%
50%
Wick 3 Nominees Limited
B Ordinary
100%
33.3%
7
8
2
8
9
10
11
12
The Group also has an investment in TopHat Enterprises Limited.
* Share class held by another Group company, but ultimately held by Persimmon Plc.
** A Scottish Limited Partnership.
1. 180 Findochty Street, Garthamlock, Glasgow, G33 5EP
2. 3rd Floor Citygate, St. James\u2019 Boulevard, Newcastle upon Tyne, Tyne & Wear, NE1 4JE
3. 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland
4. 44 Esplanade, St Helier, JE4 9WG, Jersey
5. 3 Bell Lane, Gibraltar
6. The Office, 12 Westfield Close, Gravesend, Kent, DA12 5EH
7. 6 Europa Court, Sheffield Business Park, Sheffield, S9 1XE
8. 6 Drakes Meadow, Penny Lane, Swindon, Wiltshire, SN3 3LL
9. 250 Aztec West, Almondsbury, Bristol, BS32 4TR
10. 137 Scalby Road, Scarborough, North Yorkshire, YO12 6TB
11. Av. Duque de Loul\u00e9 47-2, 1050-086, Lisbon, Portugal
12. Gate House, Turnpike Road, High Wycombe, Buckinghamshire, HP12 3NR
Resident Management Companies
The companies listed below are Resident Management Companies (\u2018RMCs\u2019)
currently controlled by the Group. Control is exercised by the Group\u2019s power
to appoint Directors and the Group\u2019s voting rights in these companies. All
RMCs are companies limited by guarantee without share capital (unless
otherwise stated) and incorporated in the UK.
The capital, reserves and profit or loss for the year have not been stated for
these RMCs as beneficial interest in any assets or liabilities of these
companies is held by the residents. These companies have not been included
in the consolidated accounts, are temporary members of the Group and will
be handed over to residents in due course.
The Registered Office of each RMC is Persimmon House, Fulford, York,
YO19 4FE (unless otherwise stated).
Company name
Abbey Green (Amesbury) Management Company Limited
Abbeyvale Taunton Management Company Limited
1
Abbot Walk (Chatteris) Residents Management Company Limited
Ackton Pastures (Castleford) Management Company Limited
Agusta Park Flats Yeovil Management Company Limited
Agusta Park Yeovil Management Company Limited
Amberwood (Carlisle) Management Company Limited
Amblehurst Green (Billingshurst) Management Company Limited
2
Arisdale (Phase 2) Residents Management Company Limited
Arnold Way (Grove) Management Company Limited
Arnold Way No. 2 (Grove) Management Company Limited
Arnold Way No. 3 (Grove) Management Company Limited
Ashworth Place (Phase 2) Management Limited
Augusta Park (Dinnington) Management Company Limited
Avalon (Mansfield) Management Company Limited
3
Aveley Village (Thurrock) Management Company Limited
Avon Fields (Durrington) Management Company Limited
Awel Afan (Port Talbot) Management Company Limited
Awel Y Mynydd (Pembrey) Management Company Ltd
Aykley Woods (Durham) Management Company Limited
Aylesham Village Phase 1B (Aylesham) Residents Management Company Limited
Aylesham Village Phase 2 (Aylesham) Residents Management Co Ltd
Aylesham Village Phase 2B And 2C (Aylesham) Residents Management
Company Limited
Backbridge (Malmesbury) Management Company Limited
Badbury Park (Swindon) Management Company Limited
Badbury Park (Swindon) No 2 Management Company Limited
Badbury Park (Swindon) No 3 Management Company Limited
Bannerbrook Management Company Limited
4
Bannerbrook Park Phase II (Coventry) Management Company Limited
Barber Court (Birmingham) Management Company Limited
Barrington Park Management Company Limited
5
Barry Waterfront Residents Management Company Limited
6
Beauchamp Grange (Caister) Residents Management Company Limited
Beckets Grove Management Company Limited
Beckets Grove Phase 2 (Wymondham) Residents Management Company Limited
Beckford Road (Alderton) Management Company Limited
Bedale Meadows Management Company Limited
7
Bell Lane (Little Chalfont) Management Company Limited
Bells Hill Management Company Limited
8
Birchwood Manor (Wardley) Residents Management Company Limited
Bishops Green (Coundon) Management Company Limited
Bishops Mead (Lydney) Management Company Limited
Bishops Meade (Downton) Management Company Limited
Bluebell Meadow (Bradwell) Management Company Limited
Bluebell Wood (Willenhall) Management Company Limited
9
Bootham Crescent (York) Residents Management Company Limited
Boulton Moor (Derby) Properties Limited
Boyton Place (Haverhill) Residents Management Company Limited
Brackenleigh (Carlisle) Management Company Limited
Bradley Barton View Management Company Limited
Bramble Rise (Hetton) Management Company Limited
Bramblewood (Old Basing) Residents Management Company Limited
6
Branshaw Park (Keighley) Management Company Ltd
Bridgefield (Ashford) Management Company Limited
Bridgefield Nine Management Company Limited
Brindle Park (Bamber Bridge) Management Company Limited
8
Broadway (Rainham) Residents Management Company Limited
Brockeridge Road (Twyning) Resident Management Company Limited
1
Brookfield (Golborne) Management Company Limited
5
Broomhill View (Togston) Residents Management Company Limited
Buckton Place (Leiston) Residents Management Company Limited
Bugbrooke Road (Kislingbury) Management Company Limited
11
Burfield Valley Estate Management Limited
12
Buttercup Leys (Boulton Moor) Residential Management Company Limited
Buzzard Meadows (Leighton Buzzard) Residents Management Company Limited
13
Calder Grange (Dewsbury) Management Company Limited
Canalside (Burton Upon Trent) Residential Management Company Limited
Canonbury Rise (Berkeley) Management Company Limited
Carleton Meadows Management Company Limited
Carn Y Cefn RMC Ltd
14
Carpenters Field (Denmead) Management Company Limited
Castellum Grange (Colchester) Residents Management Company Limited Castle Hill (Cottingham) Management Company Limited Castle Park (West Durrington) Management Company Limited Castle View (Netherton) Management Company Limited Castlemead (953) Trowbridge Management Company Limited Castlemead (Persimmon 950) Town Trowbridge Limited Castlemead (Persimmon 964) Town Trowbridge Limited Castleton Court (Haverfordwest) Management Company Limited Cathedral Court (Salisbury) Management Company Limited Cathedral Gate (Salisbury) No.2 Management Company Limited 6 Cathedral View (Durham) Management Company Limited Cayton Meadows (Scarborough) Management Company Limited Century Rise (Emersons Green) Management Company Limited Chancery Park (Exning) Residents Management Company Limited Charlton Place (Keynsham) Management Company Limited Chaucers Meadow (North Petherton) Management Company Limited Chilmark Glade Management Company Limited Chorley G 1 Management Company Limited 8 Church Lane (Deal) Residents Management Company Limited Clarence Place (Bracknell) Residents Management Company Limited Cloatley Cresent Management Company Limited Clock Tower (Wolverhampton) Management Company Limited 8 Clos Ty Gwyn (Hendy) Management Company Limited Clover Chase (Lingwood) Residents Management Company Limited Coastal Dunes (Lytham St Annes) Management Company Limited Coatham Vale and Berrymead Gardens Residents Management Company Limited 7 Coed Darcy (Llandarcy) Management Company Limited College Park (Thurston) Residents Management Company Limited Colliers Walk (Nottingham) Management Company Limited 8 Colonial Wharf (Chatham) Residents Management Company Limited Coopers Grange (Bishops Stortford) Resident Management Company Ltd 8 Copperfield Place (Chelmsford) Residents Management Company Limited Copperfield Truro Management Company Limited Coquet Grange (Amble) Management Company Limited Corelli Sherborne Management Company Limited Cote Farm (Thackley) Management Company Limited Coton Park (Rugby) Management Company Limited Cotswold Vale (Long Marston) Management Company Limited 1 Coverdale Paignton Management Company Limited 1 Crofton Walk (Fair Oak) Management Company Limited Cromwell Gardens (Huntingdon) Residents Management Company Limited Cromwell Place (Little Dunmow) Residents Management Company Limited Crosland Road (Lindley) Management Limited 15 Cross Quays (Westwood) Management Company Limited Cross Quays Phase 2 (Thanet) Residents Management Company Limited Cumnor Hill Management Company Limited Cwrt Y Llwyfen (Johnstown) Management Company Limited Cygnet Grange (Swanmore) Residents Management Company Limited Daisy Hill (Morley) Management Company Limited Daisy\u2019s View (Burbage) Management Company Limited Dan Y Bryn Management Company Limited Dartford Bow Arrow (Management Company) Limited 16 De Vere Grove (Colchester) Residents Management Company Limited Deerwood Park (Colne) Management Company Limited Dol Yr Ysgol (Bridgend) Management Company Limited Douglas Gardens (Hesketh) Management Company Ltd 8 Downs View (Swanley) Residents Management Company Limited Dukes Meadow (Tangmere) Management Company Limited D\u2019urton Heights (Preston) Management Company Limited Earlesmead (Framingham Earl) Residents Management Company Limited East Benton Rise (Benton) Management Company Limited Eclipse House (Andover) Management Company Limited Edinburgh Park (Liverpool) Management Company Limited 8 Eldon Whins (Middridge) Management Company Limited 7 Elkas Rise (Ilkeston) Management Company Limited Ellesmere Park (The Oaks) Management Company Limited 5 Ellis Mews (Micheldever) Management Company Limited 12 Elm Farm (Wymondham) Residents Management Company Limited Elm Rise (Birtley) Residents Management Company Limited Emily Fields (Swansea) Management Company Limited Eton Place (Bracknell) Management Company Limited Eve Parc (Falmouth) Management Company Limited Fair Mile Rise (Blandford St Mary) Management Company Limited Fairfax Mews Crediton Management Company Limited 1 Fairmoor (Morpeth) Management Company Limited Fairways (Retford) Management Company Limited Fallow (Benton) Residents Management Company Limited Farley Fields South Petherton Management Company Limited 1 Fatherford View (Okehampton) Management Company Limited Festival Park (Easton) Residents Management Company Limited Fiddington Fields (Tewkesbury) Management Company Limited Field Place (Faversham) Management Company Limited 16 Fishpool Hill Bristol Management Company Limited Fleckney Road Management Company Limited
Flint Grange (Clacton) Residents Management Company Limited
Foley Gardens (Newent) Residential Management Company Limited
1
Folly Grove (Hockley) Residents Management Company Limited
Forest View (Calverton) Management Company Limited
Forge Wood (Crawley) Management Company Limited
17
Foundry Meadows (Bexhill) Residents Management Company Limited
Foxes Chase (Anlaby) Residents Management Company Limited
Foxfields (Stoke-On-Trent) Management Company Limited
6
Foxley Park (Dereham) Residents Management Company Limited
Garden Valley (Aylesham) Residents Management Company Limited
12
Garendon Park Residents Management Company Ltd
George Ward Gardens (Melksham) Management Company Limited
Germany Beck (Fulford) Management Company Limited
Gilden Park (Old Harlow) Resident Management Company Limited
8
Gipping Mill (Great Blakenham) Residents Management Company Limited
Glan Yr Afon (Swansea) Management Company Limited
Golwg Y Glyn (Fforest) Management Company Limited
6
Golwg Y Mynydd (Mountain Ash) RMC Ltd
14
Gotherington Grange Resident Management Company Limited
Grange Paddocks (Stanway) Residents Management Company Limited
Grangewood Park (Burnham On Crouch) Residents Management Company Limited
Grays Court (Orpington) Residents Management Company Limited
12
Great Western Park (Didcot) No 1 Management Company Limited
Great Western Park (Didcot) No 2 Management Company Limited
Great Western Park (Didcot) No 3 Management Company Limited
Great Woodcote Park Exeter Management Company Limited
Greenacres (Easington) Management Company Limited
Greenfields (Narberth) Management Company Limited
Greetwell Fields (Lincoln) Residents Management Company Limited
Griffin Wharf (Ipswich) Residents Management Company Limited
Grove Street (Raunds) Residents Management Company Limited
Hailes Wood (Elsenham) Residents Management Company Limited
Hamilton Gate (Frinton) Residents Management Company Limited
Hampton Gardens Phase 3 (Peterborough) Residents Management Company Ltd
Hampton Park (Littlehampton) Residents Management Company Limited
Hansons Reach (Stewartby) Residents Management Company Limited
Hanwell Chase (Banbury) Residents Management Company Limited
Harbourside View (Portchester) Management Company Limited
Harbury Lane (Warwick) Management Company Limited
Hardings Wood (Kidsgrove) Residents Management Company Limited
5
Harebell Meadows And Hartburn Grange Residents Management Company Limited
5
Harford Mews Ivybridge Management Company Limited
1
Harlands Park (Uckfield) Residents Management Company Limited
Harlow Fields (Mackworth) Residential Management Company Limited
Harlow Hill Grange (Harrogate) Management Company Limited
Harpur Hill (Buxton) Residents Management Company Limited
5
Harrow View West (Harrow) Residents Management Company Limited
Hartley Grange (Whittlesey) Residents Management Company Limited
Hartnells Farm Management Company Limited
Hastings Place (Bentley) Management Company Limited
Hatchwood Mill (Winnersh) Management Company Limited
Hatfield Lane Armthorpe Management Company Limited
7
Hathern Road (Shepshed) Management Company Limited
1
Hauxley Grange (Amble) Residents Management Company Limited
Hawthorn Chase (Aston Clinton) Residents Management Company Limited
Hawthorne Farm (Clitheroe) Management Company Limited
5
Haywards Gardens (Kegworth) Man Co. Limited
18
Haywood Heights (Writhlington) Management Company Limited
Hazelmere (Flockton) Management Company Limited
Heathfield Gardens (Phase 7) Management Company Limited
Heathpark Wood (Windlesham) Management Company Limited
Hellingly 415 Residents Management Company Limited
Hellingly 416 Management Company Limited
Hellingly 418 Management Company Limited
Hepburn Chase Management Company Limited
1
Heritage Gate (Llantwit Major) Residents Management Company Limited
Heritage Green (Newbottle) Management Company Limited
19
Heritage Park (Shinfield) Residents Management Company Limited
Heritage Park (Sutton Courtenay) Residents Management Company Limited
Herne Vale Ilminster Management Company Limited
Herons Park (Angmering) Management Co Ltd
Herrington Grange (Philadelphia) Management Company Limited
Hethersett Residents Management Company Limited
8
Heugh Hall (Coxhoe) Residents Management Company Limited
Higham Lane Management Company Limited
Highfield Farm (West Melton) Residents Management Company Limited
Highland Park Estate Management Company Limited*
20
Hill Barton Vale Exeter Management Company Limited
Hill Barton Vale Flats Exeter Management Company Limited
Hillfield Meadows (Sunderland) Management Company Limited
Hillies View (Wombwell) Management Company Limited
Holdingham Grange (Sleaford) Residents Management Company Limited
Holly Fields (Birmingham) Management Company Limited
Homington Avenue (Swindon) Local Centre Management Company Limited
Honours Meadow (Rendlesham) Residents Management Company Limited Horsbere Mews (Longford) Management Company Limited 21 Horseshoe Meadows (Westbury) Management Company Limited HRC (Ware) Residents Management Company Limited Hunters Edge (Eaglescliffe) Residents Management Company Limited Hurdle Court (Andover) Management Company Limited Hydro (St Neots) Number One Management Company Limited Ingleby (Barwick) Management Company Limited Iwade Meadows (Iwade) Management Company Limited Iwade Meadows (Yalding Apartments Plots 74-79) Management Company Limited Jasmine Gardens Management Company Limited Jubilee Gardens (Warminster) Management Company Ltd Jubilee Rise (Shepshed) Management Company Limited Kenilworth Gate Management Company Limited Kennedy Place (Ulverston) Management Company Limited Kings Grove Cranbrook Management Company Limited Kingsbridge Court (Gorseinon) Management Company Limited Kingsbury Gardens (St Albans) Residents Management Company Limited Kingsbury Meadows (Wakefield) Management Company Limited Kingsmead (Gloucester) Management Company Limited Knights Court (Old Sarum) Management Company Limited Knightswood Place (Rainham) Residents Management Company Limited Ladgate Woods (Middlesbrough) Management Company Limited Lakedale Whiteley Meadows (North Whiteley) Management Company Limited Lakeside Edge (Peterborough) Residents Management Company Limited Lambourn Meadow (Thatcham) Management Company Limited 22 Laneside (Morley) Residents Management Company Limited Larkbear Management Company Limited 6 Lauder Mews Crediton Management Company Limited Launds Field (Galgate) Management Company Limited Laureate Heights Sidmouth Management Company Limited Lavender Fields (South Wootton) Residents Management Company Ltd Lime Tree Court Derby Management Company Limited Limes Place (Upper Harbledown) Residents Management Company Limited Lindale Park (Alverthorpe) Management Company Limited Lindley Moor Meadows (Huddersfield) Management Company Limited Lingfield Meadows (Houghton) Management Company Limited Llanilid Management Company Limited Llanilltern Apartments RMC Ltd 14 Llanilltern Village RMC Ltd 14 Llys Ystrad (Bridgend) Management Company Limited 23 Lodmoor Sands (Weymouth) Management Company Limited 6 Longbridge Place (Longbridge) Management Company Limited Longleaze Management Company Limited Low Moor Meadows (Morley) Management Company Limited Low Street (Sherburn In Elmet) Management Company Limited 19 Lowen Bre Truro Management Company Limited Lucknam Crescent (Swindon) Management Company Limited Lythalls Lane (Coventry) Management Company Limited 21 Maes Dyfed Management Company Limited Maes Y Parc (Cross Hands) Management Company Limited Maes Y Rhos (Ystradgynlais) Management Company Limited Maiden Vale (Ryhope) Management Company Limited Malvern Rise (Malvern) Management Company Limited Malvern Vale (Malvern) Management Company Limited 21 Manor Farm (Doncaster) Management Company Limited Manor Farm (Micklefield) Management Company Limited Manor Gardens (Selsey) Management Company Limited Manor Park Sprowston Residents Management Company Limited 8 Manor Place (Maidenhead) Residents Management Company Limited Manor Vale Residents Management Company Limited 11 Maple (129) Limited 22 Maple Oak (Alton) Management Company Limited 6 Mariners Walk (Swansea) Apartment Management Company Limited* Mariners Walk (Swansea) Management Company Limited* Marshfoot Lane (Hailsham) Residents Management Company Limited Martello Park (Pembroke) Management Company Limited Martineau Gardens Harborne Management Company Limited 9 Mascalls Grange (Paddock Wood) Residents Management Company Limited Meadow View (Oundle) Management Company Limited Meadow View (Redditch) Resident Management Company Limited 21 Meon Way Gardens Management Company Limited 21 Merchants Walk Cullompton No 2 Management Company Limited Mercians Place Management Company Limited 21 Meridian Place (Hertford) Residents Management Company Ltd Merlins Lane (Scarrowscant) Management Company Limited Mersey View (Bromborough Pool) Management Company Limited 24 Mill Gardens (Cullompton) Management Company Limited Mill Valley (Pevensey) Residents Management Company Limited Mill View (Willingdon) Management Company Limited Millbeck Grange (Bowburn) Management Company Limited Millennium Farm (New Waltham) Management Company Limited Monkswood (Sacriston) Management Company Limited Montague Park Residents Management Company Limited 25
Montfort Place (Odiham) Management Company Limited
8
Moorfield (Easington) Management Company Limited
Moorfield Park Management Company Limited
8
Moorlands Walk (Sherburn) Management Company Limited
Mulberry Grange (Castleford) Management Company Limited
Mulberry Grove (St Fagans Cardiff) Management Company Limited
Nelson\u2019s Park (North Walsham) Residents Management Company Limited
NGP Management Company (Cell E) Limited*
10
NGP Management Company (Cell F) Limited*
10
NGP Management Company (Commercial) Limited*
10
NGP Management Company (Town Centre) Limited*
10
NGP Management Company Residential (Cell G) Limited*
10
Oak Heights (Northiam) Residents Management Company Limited
12
Oak Tree Gardens (Audley) Management Company Limited
15
Oakcroft Chase (Stubbington) Management Company Limited
Oakhurst Village (Shirley) Management Company Limited
Oakland Gardens (Wilthorpe) Management Company Limited
Oakwood Meadows (Colchester) Residents Management Company Limited
Oakwood Meadows Phase 4 (Stanway) Residents Management Company Limited
Oakwood Park (Wymondham) Residents Management Company Limited
Oakwood View (Brackla) Management Company Limited
Oakwood View (Weston-Super-Mare) Management Company Limited
Oast Court Farm Management Company Limited
26
Old Road (Churwell) Management Company Limited
Open Space Management Limited
15
Orchard Croft (Diss) Residents Management Company Limited
Orchard Grove (Coxheath) Residents Management Company Ltd
Orchard Manor (Cheddington) Residents Management Company Limited
Orchard Meadows (Iwade) Residents Management Company Limited
Orchard Mews Pershore Management Company Limited
21
Otterham Park (Rainham) Residents Management Company Limited
Oxley Springs (Milton Keynes) Management Company Limited
Oxley Springs 8B (Milton Keynes) Management Company Limited
Paddocks 21 (Andover) Management Company Limited
Palmerston Heights Plymouth Management Company Limited
Paragon Park (Coventry) Management Company Limited
Parc Brynderi (Llanelli) Management Company Limited
Parc Yr Onnen (The Limes) Management Company Limited
Park Farm (South East) Management Company Limited
27
Parklands (Hessle) Residents Management Company Limited
Parklands (Maidstone) Management Company Limited
27
Parrett Gardens (Langport) Management Company Limited
Pavilion Gardens (Monkton Heathfield) Management Company Limited
Pedlars Meadow (Swaffham) Residents Management Company Limited
Pembridge Court (Clehonger) Residents Management Company Limited
21
Penny Pot Lane (Harrogate) Management Company Limited
7
Perry Park View (Perry Barr) Management Company Limited
21
Persimmon Gardens (Hindley) Management Company Limited
5
Persimmon Gardens (Martham) Residents Management Company Limited
Persimmon Grange Framlingham Residents Management Company Limited
Persimmon Homes The Oaks (Selly Oak) Management Company Limited
21
Phoenix Park (Dunstable) Residents Management Company Limited
Phoenix Wharf (West Bromwich) Management Company Limited
21
Picket 20 Management Company Limited
Picket Twenty Two (Andover) Management Company Limited
Porth Y Dyffryn (Merthyr Tydfil) Residents Management Company Limited
Portland Park (Ashington) Management Company Limited
Pottery Gardens (Cheadle) Residents Management Company Limited
5
Priory Meadows (Bodmin) Management Company Limited
Quantock View Management Company Limited
Quinta Mews Management Company Limited
28
Rackheath Residents Management Company Limited
Radstone Road (Brackley) Management Company Limited
Rainton Gardens (Chilton Moor) Management Company Limited
Rainton Meadows (Chilton Moor) Management Company Limited
19
Ramsdell (Ashford Hill) Management Company Limited
Rectory Lane (Standish) Management Company Limited
Redhayes Management Company Limited
29
Redland Grange (Cottenham) Residents Management Company Limited
Regent Park (Calne) Management Company Limited
Regents Place (Chellaston) Management Company Limited
21
Repton Park 18 (Ashford) Residents Management Company Limited
Repton Park 19-23 (Ashford) Residents Management Company Limited
Repton Park 8 & 10 (Ashford) Residents Management Company Ltd
Rivendell (Gedling) Management Company Limited
Riverbourne Fields Management Company Limited
Rose Manor (Hadleigh) Residents Management Company Limited
Roseberry Park (Pelton) Management Company Limited
Salterns (Terrington) Residents Management Company Limited
Saltram Meadow Plymouth Management Company Limited
Samford Gardens (Capel St Mary) Residents Management Company Limited
Sandfield Walk (Nottingham) Management Company Limited
Sandgate Drive (Kippax) Management Company Limited
Sandpipers (Minster) Residents Management Company Limited
Saxon Fields (Bridgwater) Management Company Limited
Saxon Grange (Shaftesbury) Management Company Limited
Saxon Grove (Purton) Management Company Limited
Saxon Meadow (Sutton On Trent) Residents Management Company Limited
Saxons Chase (Headcorn) Residents Management Company Limited
Scarlett Mews (Tiptree) Residents Management Company Limited
Scholar\u2019s Green (Northampton) Residents Management Company Limited
11
Seaside Lane (Easington) Management Company Limited
Seaton Vale (Ashington) Residents Management Company Limited
Sharpes Meadow (Heybridge) Residents Management Company Limited
Sherborne Fields (Basingstoke) Management Limited
Sherborne Fields Apartments Ph6 (Basingstoke) Management Company Limited
Shilton Place (Coventry) Management Company Ltd
30
Shirewood (Beighton Road) Management Company Limited
Silver Hill (Preston) Management Company Limited
Silverwood (Garforth) Management Company Limited
Solway View (Workington) Management Company Limited
Sonnet Park (Stratford) Management Company Limited
1
Sovereign Quarter (Gillingham) Management Company Limited
Speckled Wood (Carlisle) Management Company Limited
Spring Meadows (Darwen) Management Company Limited
8
St Andrews (Uxbridge) Management Company Limited
21
St Andrews Park (Phase 3C Uxbridge) Management Company Limited
31
St Andrews Park (Vine Lane 1A) Management Company Limited
21
St Andrews Park (Vine Lane 2A) Management Company Limited
21
St Andrews Park 2B/3A (Churchill Road, Uxbridge) Management Company Limited
21
St Andrews Park 3B (Uxbridge) Management Company Limited
21
St Andrews Ridge (Swindon) Management Company Limited
St Dunstans Place (Burbage) Management Company Limited
St Edeyrns Apartments (Cardiff) RMC Limited
St Edeyrns Village (Cardiff) Residents Management Company Limited
St Edmunds (Frome) Management Company Limited
St George (Lancaster) Management Company Limited
St Georges Keep Management Company Limited
St James Park (Bramley) Residents Management Company Limited
St Johns (Lichfield) Management Company Limited
St Michaels Place (Colchester) Residents Management Company Limited
St Michaels Way (South Ryhope) Residents Management Company Limited
St Peters Place (Salisbury) Management Company Limited
Stanbridge Meadows (Petersfield) Management Company Limited
Stanford Meadows (Stanford-Le-Hope) Residents Management Company Limited
Stanton Chase (Swindon) Management Company Limited
Staynor Hall 4 (Selby) Residents Management Company Limited
Staynor Hall K (Selby) Management Company Limited
Stephenson Park (Wallsend) Residents Management Company Limited
Stortford Fields (Bishops Stortford) (Persimmon) Resident Management
Company Limited
Strawberry Fields Penryn Management Company Limited
Stream View Management Limited
28
Swan Park (Dawlish) Management Company Limited
Sycamore Gardens (Oakdale) RMC Ltd
14
Sycamore Rise (Thame) Residents Management Company Limited
Tanners Meadow (Strood Green) Management Company Ltd
2
Tarraby View (Carlisle) Management Company Limited
Teasdale Place (Carlisle) Management Company Limited
The Acorns (Shirley) Management Company Limited
21
The Alders (Gilwern) Residents Management Company Limited
The Blossoms (Blackburn) Management Company Limited
8
The Boulevards (East Tilbury) Residents Management Company Limited
The Boulevards (Newport) Residents Management Company Limited
The Bridge (Dartford) 29 And 31A Residents Management Company Limited
The Bridles (Ffos Las) Management Company Limited
14
The Carriages (Burscough) Management Company Limited
The Cottons (Holmes Chapel) Management Company Limited
The Croft (Burgess Hill) Residents Management Company Limited
The Edge (Hempstead) Management Limited
The Fell (Lyde Green) Management Company Limited
6
The Gateway (Colchester) Residents Management Company Limited
The Goldings Newquay Management Company Limited
The Grange (Chalfont St Peter) Management Company Ltd
The Grange (Chepstow) Limited
The Grange (Wellesbourne) Management Company Limited
21
The Hamptons (Newcastle) Resident Management Company Limited
5
The Haven (Swansea) Management Company Limited
The Hawthorns (Market Harborough) Management Company Limited
The Heath (Sandbach) Management Company Ltd
8
The Hedgerows (Alsager) Management Company Ltd
5
The Heights (Newark) Residents Management Company Limited
The Lancasters (Cambridge) Residents Management Company Limited
The Landings (Waddington) Residents Management Company Limited
The Links (Machynys East) Management Company Limited
6
The Maples (Cressing) Residents Management Company Limited
The Maples (NGP) Management Company Limited
The Maples (Weston) Residents Management Company Limited
The Middles (Stanley) Management Company Limited The Mile (Pocklington) Management Company Limited The Nightingales (Helpston) Residents Management Company Limited 32 The Oaklands (NGP) Residents Management Company Limited The Orchard (Fenstanton) Residents Management Company Limited 33 The Paddocks (Aintree) Management Company Limited 5 The Paddocks (Farcet) Residents Management Company Limited The Paddocks (Highworth) Management Company Limited 5 The Pastures (Lowton) Management Company Limited 5 The Pinnacles Management Company (Thamesmead) Limited The Poppies (Harleston) Management Company Limited The Poppies Management Company Limited The Priory (Llandough) Residents Management Company Limited 34 The Reeds Lower Halstow Management Ltd 28 The Rosary (Emersons Green) Management Company Limited The Rydons Exeter Number Two Management Company Limited The Sands (Durham) Management Company Limited The Shires (Oswaldtwistle) Management Company Ltd 8 The View (Redditch) Management Company Limited 21 The Village, Aveley Phase II Residents Management Company Limited The Weald (Easingwold) Management Company Limited The Wickets (Penenden Heath) Residents Management Company Limited The Willows (Downham Market) Residents Management Company Limited The Willows Earlestown (Newton Le Willows) Management Company Limited 24 The Windmills (Kirton) Residents Management Company Limited Thornley Woods (Gateshead) Management Company Limited Tilbury Fields (Oxford) Management Company Limited 8 Tir Y Bont (Bridgend) Management Company Limited Towcester Grange (Towcester) Residents Management Company Limited 18 Trelawny Place (Felixstowe) Residents Management Company Limited Trevelyan Grange (Morpeth) Residents Management Company Limited Trevethan Meadows Liskeard Management Company Limited Trinity Pastures (Calvert Lane Hull) Residents Management Company Limited Tundra Point (Emersons Green) Management Company Limited Valley Heights (Frome) Management Company Limited 1 Village Mews (Southowram) Management Company Limited Walmsley Park (Leigh) Management Company Ltd 5 Watercress Way Management Company Limited 28 Waterfield Place (Market Harborough) Residential Management Company Limited Waters Edge (Buckshaw) Management Company Limited 24 Waterside At The Bridge Management Company Limited Watling Place (Newington) Residents Management Company Ltd Weavers Meadow Estates Management Company Limited Weavers Meadow Phase 2 (Hadleigh) Residents Management Company Limited Weavers Place (Skelmanthorpe) Management Company Limited Weavers View (Pleasley Hill) Residents Management Company Limited Weavers Wharf Apartments (Coventry) Management Company Limited Wellington Gate (Grove) Management Company Limited Wellington Gate (Maresfield) Management Company Limited Wellswood Park (Reading) Residents Management Company Limited Wentworth Green Management Company Limited Westhaven Apartments (Barry) Residents Management Company Limited Westhoughton (Lee Hall) Residents Management Company Limited 5 Weston Park Limited Westvale Park (Horley) Management Company Limited 2 Westwood Park (Churwell) Management Company Limited White Rose Park (Norwich) Residents Management Company Ltd Whiteford Mews Management Company Limited Whitewood Park (Bristol) Management Company Limited Whittington Walk (Worcester) Management Company Limited 21 Whitworth Dale Management Company Limited Willow Court (Abergavenny) RMC Limited Willow Park (Aylsham) Management Company Limited Windmill View (Stanground) Residents Management Company Limited Windrush Place Witney Management Company Limited Wombwell (Barnsley) Management Company Limited Woodhorn Meadows (Ashington) Residents Management Company Limited Woodland Gardens (Pyle) Management Company Limited Woodland Rise (Great Cornard) Residents Management Company Limited Worcester Gate (Worcester) Management Company Limited 21 Wykham Park (Banbury) Management Company Ltd 5 Yew Tree Farm (Droitwich) Management Company Limited 21 Yew Tree Gardens (Tuffley) Management Company Limited
1. Queensway House, 11 Queensway, New Milton, BH25 5NR
2. Homer House, 8 Homer Road, Solihull, B91 3QQ
3. Fountain House, Southwell Road West, Mansfield, NG18 4LE
4. Persimmon House, Birmingham Road, Studley, B80 7BG
5. Unit 7 Portal Business Park, Eaton Lane, Tarporley, CW6 9DL
6. Fisher House, 84 Fisherton Street, Salisbury, SP2 7QY
7. Cheviot House, Beaminster Way East, Newcastle Upon Tyne, NE3 2ER
8. RMG House, Essex Road, Hoddesdon, EN11 0DR
9. 11 Little Park Farm Road, Fareham, PO15 5SN
10. 3rd Floor City Gate, St. James\u2019 Boulevard, Newcastle Upon Tyne, Tyne and Wear, NE1 4JE
11. Unit A5 Optimum Business Park, Optimum Road, Swadlincote, DE11 0WT
12. 94 Park Lane, Croydon, CR0 1JB
13. Persimmon Homes, 3 Waterside Way, Northampton, NN4 7XD
14. 46 Whitchurch Road, Cardiff, CF14 3LX
15. North Point, Stafford Drive, Battlefield Enterprise Park, Shrewsbury, SY1 3BF
16. Burlington House, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF
17. Unit 8, The Forum Minerva Business Park, Peterborough, PE2 6FT
18. 2 Hills Road, Cambridge, CB2 1JP
19. 4335 Park Approach, Thorpe Park, Leeds, LS15 8GB
20. Suite 7 Aspect House, Pattenden Lane, Marden, TN12 9QJ
21. 11 Queensway House, Queensway, New Milton, BH25 5NR
22. 250 Aztec West, Almondsbury, Bristol, BS32 4TR
23. Vantage Point, 23 Mark Road, Hemel Hempstead, HP2 7DN
24. Gateway House, 10 Coopers Way, Southend-On-Sea, SS2 5TE
25. 20 King Street, London, EC2V 8EG
26. Acorn Estate Management, 9 St Marks Road, Bromley, BR2 9HG 27. Foundation House, Coach & Horses Passage, Tunbridge Wells, TN2 5NP 28. Scholars House, 60 College Road, Maidstone, ME15 6SJ 29. Woodwater House, Pynes Hill, Exeter, EX2 5WR 30. 1st Floor Lancaster House, 67 Newhall Street, Birmingham, B3 1NQ 31. 72 Victoria Road, Ruislip, HA4 0AH 32. Unit 9, Astra Centre, Edinburgh Way, Harlow, CM20 2BN 33. 17 Apple Tree Close, Fenstanton, Huntingdon, PE28 9FJ 34. Avon House, Stanwell Road, Penarth, Wales, CF64 2EZ * Private limited company .", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-380": { "value": "16 Investments 16.1 Investments accounted for using the equity method
Investments
Investments in joint
in associates ventures
\u00a3m \u00a3m
Cost
At 1 January 2022 and 1 January 2023
\u2014
0.3
New investments in the year
0.7
\u2014
Distributions
\u2014
\u2014
At 31 December 2023
0.7
0.3
Investments in associates and joint ventures are accounted for under the equity method of accounting. All principal joint ventures have a single external partner holding a 50% interest giving an equal interest in the trade and net assets of the joint ventures. There are no significant restrictions on these entities. During the year the Group has invested \u00a30.7m in the equity of a new associate, TopHat Enterprises Limited (\u2018TopHat\u2019). In addition to this equity investment the Group has acquired \u00a36.8m of interest bearing long-term loan notes issued by TopHat. These are reported within non-current trade and other receivables at 31 December 2023. The Group has also committed to acquire a further \u00a317.5m of interest bearing long-term loan notes from TopHat in January 2024. The Group\u2019s share of assets and liabilities of joint ventures is shown below:
2023 2022
\u00a3m \u00a3m
Non-current assets
0.8
0.1
Current assets
0.2
0.2
Current liabilities
\u2014
\u2014
Net assets of joint ventures
1.0
0.3
34 Details of all subsidiary undertakings Persimmon Group subsidiary companies The following companies, included in these consolidated accounts, are wholly owned by the Persimmon Group and are incorporated in the UK unless otherwise stated. Persimmon Plc or its subsidiary companies also hold all of the voting rights unless otherwise stated. The Registered Office for each company is Persimmon House, Fulford, York, YO19 4FE unless otherwise stated.
Name of undertaking
Description of shares held
@Home Limited
Ordinary* and 3.5% Preference*
A.E.A Prowting Limited
Ordinary*
A Monk & Company Developments (S.W.) Limited
Ordinary* and Deferred*
Name of undertaking
Description of shares held
Alford Brothers Limited
Ordinary*
Anjok 157 Limited
Ordinary*
Anjok 171 Limited Ordinary*
Anjok 172 Limited
Ordinary*
Anjok 173 Limited
Ordinary*
Anjok 269 Limited Ordinary* and Deferred*
Anjok 28 Limited
Ordinary* and 8% Preference*
Anjok 31 Limited
Ordinary*
Anjok Five (1996) Limited
Ordinary*
Anjok Holdings Limited
Ordinary* and Deferred*
Anjok Investments Limited
Ordinary*
Anjok Twenty Limited A Ordinary* and B Ordinary*
Anjok Two Limited
Ordinary*
Aria Homes Limited
A Ordinary* and B Ordinary*
Arthur S Nixon and Company
1% Non-Cumulative Preference* and Ordinary*
Aspect Homes Limited
Ordinary*
Atlantis One Limited
Ordinary* and Preference*
Beazer Group Limited
Ordinary*
Beazer Homes (Anglia) Limited
Deferred* and A Ordinary*
Beazer Homes (Barry) Limited
Ordinary*
Beazer Homes (FLE) Limited
A Ordinary* and B Ordinary*
Beazer Homes (FNLHS) Limited
Ordinary*
Beazer Homes (South Wales) Limited
Ordinary*
Beazer Homes (Wessex) Limited
Ordinary*
Beazer Homes and Property Limited
Ordinary*
Beazer Homes Bedford Limited
Deferred* and A Ordinary*
Beazer Homes Birmingham Central Limited
Deferred* and A Ordinary*
Beazer Homes Bridgwater Limited
Deferred* and A Ordinary*
Beazer Homes Bristol Limited
Deferred* and A Ordinary*
Beazer Homes Cardiff Limited
Deferred* and A Ordinary*
Beazer Homes Doncaster Limited
Deferred* and A Ordinary*
Beazer Homes Edinburgh Limited Deferred* and A Ordinary*
Beazer Homes Glasgow Limited Deferred* and A Ordinary*
1 1 1 1 1
Name of undertaking
Description of shares held
Beazer Homes Limited
Ordinary*, Deferred* and A Ordinary*
Beazer Homes Nottingham Limited
Ordinary*
Beazer Homes Reigate Limited
Ordinary*
Beazer Homes Stockport Limited
Deferred* and A Ordinary*
Beazer Homes Yateley Limited
Deferred* and A Ordinary*
Beazer London Limited
Ordinary*
Beazer Partnership Homes (Scotland) Limited Ordinary*
Beazer Partnership Homes Midlands Limited
Ordinary*
Beazer Swaffham Limited
Ordinary*
Beazer Urban Developments (Anglia) Limited
Deferred* and A Ordinary*
Beazer Urban Developments (Bedford) Limited
Ordinary*
Beazer Urban Developments (East Midlands) Limited
Ordinary*
Beazer Urban Developments (South West) Limited
Ordinary*
Beazer Western Engineering Services Limited
Ordinary*
Belsco 1020 Limited Ordinary*
Breakblock Limited
Ordinary*
Broomco (3385) Limited
Ordinary*
Bruce Fletcher (Leicester) Limited
Ordinary*
Charles Church Civil Engineering Limited
Ordinary*
Charles Church Developments Limited
Ordinary*
Charles Church Essex Limited
Ordinary*
Charles Church Estates Limited
Ordinary*
Charles Church Holdings plc
A Convertible Ordinary*, B Ordinary*, B Redeemable
Preference*, C Preference*, D Ordinary*, D Preference*,
Deferred*, E Deferred*, E Ordinary* and Preference*
Charles Church Housing Limited
Ordinary*
Charles Church Investment Properties Limited
Ordinary*
Charles Church Kent Limited
Ordinary*
Charles Church Limited
Ordinary*
Charles Church London Limited
Ordinary*
Charles Church Management Limited
Ordinary*
Charles Church Partnership Homes Limited
Ordinary*
Charles Church Residential Developments Limited
Ordinary*
1 1
Name of undertaking
Description of shares held
Charles Church South East Limited
Ordinary*
Charles Church Southern Limited
Ordinary*
Charles Church Thames Valley Limited
Ordinary*
Charles Church Trading Limited
Ordinary*
Charles Church Village Heritage plc
Ordinary*
Coatglade Limited
Ordinary*
Comben Group Limited
A Deferred Ordinary, B Deferred Ordinary and Ordinary
Cresswellshawe Properties Limited
Ordinary* and 3.5% Preference*
Crowther Homes (Darlington) Limited
Ordinary*
Crowther Homes (Midland) Limited
Ordinary*
Crowther Homes (Nat W) Limited
Ordinary*
Crowther Homes (Yarm) Limited
Ordinary*
Crowther Homes Limited
Ordinary*
D Dunk (Builders) Limited
Ordinary*
D R Dunthorn & Son Limited
Deferred*, Deferred* and Ordinary*
Datblygwyr Dorothea Limited (94% of nominal value owned)
Ordinary*
Delany Brothers (Housebuilders) Limited
Ordinary* and Preference*
Domus Group Limited
Deferred*, Deferred* and A Ordinary*
E.E. Reed & Co. (Builders) Limited
Ordinary*
E F G H Limited
Ordinary*
E F G H Nominees Limited
Ordinary*
Emerson Park Limited
Ordinary*
F C Spear Limited
Ordinary*
Ferry Quay Developments Limited
A Ordinary*, B Ordinary* and C Ordinary*
Flex Fibre Limited
Ordinary*
FibreNest Limited
Ordinary*
FibreScale Limited
Ordinary*
Frays Property Management (No.1) Limited
Ordinary*
Frays Property Management (No.2) Limited
Ordinary*
Frays Property Management (No.6) Limited
Ordinary*
Friary Homes Limited
Ordinary*
Galliford Developments Limited
Ordinary*
Name of undertaking
Description of shares held
Galliford Homes (London) Limited
A Ordinary* and B Ordinary*
Galliford Homes Holdings Limited
A Ordinary*, B Ordinary* and Preference*
Galliford Homes Limited
Ordinary*
Galliford Properties Southern Limited
Ordinary*
Galliford Southern Limited
Ordinary*
Geo. Wright & Co. (Contractors Wolverhampton) Limited
Deferred*, A Deferred* and A Ordinary*
Glamford Building Company Limited
Ordinary*
Gomersal Mills Limited
Deferred* and Ordinary*
Gosforth Business Park Management Company (No.2) Limited
Ordinary*
Haven Retirement Homes Limited
Ordinary*
Hazels Development Company Limited
A Ordinary* and B Ordinary*
Hillreed Developments Limited
Ordinary*
Hillreed Holdings Limited
Ordinary*, Management Shares* and Cumulative Preference*
Hillreed Homes Limited
Ordinary*
Hillreed Properties Limited
Ordinary*
Horsebridge Network Systems Limited
A Ordinary*
Ideal Developments Limited
Ordinary*
Ideal Homes (UK) Limited
Ordinary*
Ideal Homes Anglia Limited
Ordinary*
Ideal Homes Central Limited
A Non-Voting Ordinary* and B Ordinary*
Ideal Homes Holdings Limited
Deferred and Ordinary
Ideal Homes Limited
Ordinary*
Ideal Homes Midlands Limited
Ordinary*
Ideal Homes North West Limited
Ordinary*
Ideal Homes Northern Limited
Ordinary*
Ideal Homes Scotland Limited
Ordinary*
Ideal Homes Services Limited
Ordinary*
Ideal Homes Southern Limited
Ordinary*
J.W. Liptrot & Company Limited
Ordinary*
Jaboulet Limited
Ordinary*
John Maunders Group Limited
Ordinary*
Kenton Contracting (Yorkshire) Limited
Ordinary*
Name of undertaking
Description of shares held
Kenton Contractors (Yorkshire) Limited
Ordinary*
Kenton Homes (Builders) Limited
Ordinary*
Kenton Homes (Developments) Limited
Ordinary*
Kenton Homes (Estates) Limited
Ordinary*
Knightsmoor Homes Limited
Ordinary*
Lady\u2019s Lane Property Co. Limited
Ordinary*
Lansdown Homes Limited
Ordinary*
Lazy Acre Investments Limited
Ordinary*
Leech Homes (Showhouses) Limited
Ordinary*, 0.1% Non-Cumulative Preference A* and 1%
Non-Cumulative Preference B*
Leech Homes (Wales) Limited
Ordinary*
Leech Homes (Yorkshire) Limited
Ordinary*
Leech Homes Limited
Deferred* and A Ordinary*
Leech Northumbria Limited
Ordinary*
Leech Partnership Homes Limited
Ordinary*
Leisurama Homes Limited
Ordinary*
Linkway Properties Limited
Ordinary*
Locking Castle Limited
A Ordinary*, B Ordinary* and C Ordinary*
Magnus Design Build Limited
Ordinary*
Magnus Holdings Limited
A Ordinary*, B Ordinary*, C Ordinary*, Enduring
Ordinary* and Cumulative Redeemable Preference*
Mapleleigh Limited
Ordinary*
Marriott Homes Limited
Ordinary*
Maunders Homes (East Anglia) Limited
Ordinary*
Maunders Homes (Midlands) Limited
Ordinary*
Maunders Homes (North West) Limited
Ordinary*
Maunders Homes (South) Limited
Ordinary*
Maunders Inner City Limited
Ordinary*
Maunders Urban Renewal Limited
Ordinary*
Mayclose Research Limited
Ordinary*
Melville Homes Limited
A Ordinary*, B Ordinary*, C Ordinary*, Deferred*
and Cumulative Redeemable Preference*
Name of undertaking
Description of shares held
Merewood (Kendal) Limited
Ordinary*
Merewood Group Limited
Ordinary*
Merewood Homes Limited
Ordinary*
Merewood Investments Limited
Ordinary*
Mightover Limited
Ordinary
Milton Keynes Housing Group Limited
Ordinary*
Mitrebuild Limited
Ordinary* and Deferred Ordinary*
Monk Homes Limited
Ordinary*
Monsell Youell Construction Limited
Ordinary*
Monsell Youell Limited
Deferred* and A Ordinary*
Montague Developments Limited
Ordinary*
Mount Row Finance Limited
Ordinary*
Mount Row Securities Limited
Ordinary*
NGP Management Company Residential (Cell C) Limited
2
Ordinary*
Pacemaker Developments Limited
Ordinary*
Park House Developments (Petersfield) Limited
Ordinary*
Partnership Homes Limited
Ordinary*
Pennant Developments Limited
Ordinary* and 5% Non-Cumulative Preference*
Pentra Limited
Ordinary*
Perlease Limited
Ordinary*
Persimmon (City Developments) Limited
Ordinary*
Persimmon (Eccleshall) Limited
Ordinary*
Persimmon (Share Scheme Trustees) Limited
Ordinary
Persimmon (SHL) Limited
Ordinary*
Persimmon (Strensall) Limited
Ordinary*
Persimmon Brickworks Limited
Ordinary*
Persimmon Developments (No 1) Limited
Ordinary*
Persimmon Developments (No 2) Limited
Ordinary*
Persimmon Developments (Didcot) Limited
Ordinary*
Persimmon Developments (No 5) Limited
Ordinary*
Persimmon Developments (No 6) Limited
Ordinary*
Persimmon Developments (No 7) Limited
Ordinary*
Name of undertaking
Description of shares held
Persimmon DN Limited (incorporated in Ireland) Ordinary*
Persimmon Finance (Jersey) Limited (incorporated in Jersey) Ordinary
Persimmon Finance (No 2) Limited
Ordinary
Persimmon Finance Limited
Ordinary
Persimmon Harts Limited
Ordinary
Persimmon GR (No 4) Limited
Ordinary*
Persimmon GR (No 11) Limited
Ordinary*
Persimmon GR (No 12) Limited
Ordinary*
Persimmon GR (No 13) Limited
Ordinary*
Persimmon GR (No 14) Limited
Ordinary*
Persimmon GR (No 15) Limited
Ordinary*
Persimmon GR (No 16) Limited
Ordinary*
Persimmon GR (No 17) Limited
Ordinary*
Persimmon Holdings Limited
Ordinary and A Ordinary*
Persimmon Homes (Anglia) Limited
Ordinary*
Persimmon Homes (Doncaster) Limited
Ordinary*
Persimmon Homes (East Midlands) Limited
Ordinary*
Persimmon Homes (East Scotland) Limited
Ordinary*
Persimmon Homes (East Yorkshire) Limited
Ordinary*
Persimmon Homes (Edmonstone) Limited
Ordinary
Persimmon Homes (Essex) Limited
Deferred* and A Ordinary*
Persimmon Homes (Lancashire) Limited
Ordinary*
Persimmon Homes (Mercia) Limited
Ordinary*
Persimmon Homes (Midlands) Limited
Ordinary*
Persimmon Homes (North East) Limited
Ordinary*
Persimmon Homes (North Midlands) Limited
Ordinary*
Persimmon Homes (North West) Limited
Ordinary*
Persimmon Homes (Partnerships) Limited
Ordinary
Persimmon Homes (South Coast) Limited
Ordinary*
Persimmon Homes (South East) Limited
Ordinary*
Persimmon Homes (South Midlands) Limited
Deferred* and A Ordinary*
Persimmon Homes (South West) Limited
Ordinary*
3 4
Name of undertaking
Description of shares held
Persimmon Homes (South Yorkshire) Limited
Ordinary*
Persimmon Homes (Teesside) Limited
Ordinary*
Persimmon Homes (Thames Valley) Limited
Ordinary*
Persimmon Homes (Wales) Limited
Ordinary*
Persimmon Homes (Wessex) Limited
Ordinary*
Persimmon Homes (West Midlands) Limited
Deferred* and A Ordinary*
Persimmon Homes (West Scotland) Limited
Ordinary*
Persimmon Homes (West Yorkshire) Limited
Ordinary*
Persimmon Homes (Woodley) Limited
Ordinary
Persimmon Homes (York) Limited
Ordinary
Persimmon Homes (Yorkshire) Limited
Deferred* and Ordinary*
Persimmon Homes Developments Limited
Ordinary
Persimmon Homes Limited
Ordinary*
Persimmon Partnerships (Scotland) Limited
Ordinary*
Persimmon Pension Trustees Limited
Ordinary
Persimmon Residential Limited
Ordinary*
Persimmon SC (No 1) Limited
Ordinary*
Persimmon SC (No 2) Limited
Ordinary*
Persimmon SC (No 3) Limited
Ordinary*
Persimmon SC (No 4) Limited
Ordinary*
Persimmon SC (No 5) Limited
Ordinary*
Persimmon SC (No 6) Limited
Ordinary*
Persimmon Scottish Limited Partnership** n/a
Persimmon Scottish Pension Trustees Limited Ordinary
Persimmon Shared Equity Limited
Ordinary
Persimmon Tileworks Limited
Ordinary*
Persimmon Trustees Limited
Ordinary
Pinnacle Developments (Scotland) Limited Ordinary*
Practical Finance Co. Limited
Ordinary*
Prowting Homes Anglia Limited
B Ordinary*, C Ordinary* and D Ordinary*
Prowting Homes Central Limited
Ordinary*
1 1 1
Name of undertaking
Description of shares held
Prowting Homes Chatsworth Limited
Ordinary*
Prowting Homes Limited
Ordinary*
Prowting Homes Ludlow Limited
Ordinary*
Prowting Homes Midlands Limited
Ordinary*
Prowting Homes South East Limited
Ordinary*
Prowting Homes South West Limited
Ordinary*
Prowting Homes West Limited
Ordinary*
Prowting Homes Wolds Limited
Ordinary*
Prowting Limited
Ordinary*
Prowting Projects Limited
Ordinary*
Prowting Properties Limited
Ordinary*
Repac Homes Limited
Ordinary*
SLB Construction Management Limited
Ordinary*
Second City Homes Limited
Deferred* and A Ordinary*
Senator Homes Limited
Ordinary*
Sequoia Developments Limited
Ordinary*
Severnbrook Homes Limited
Ordinary*
Sherbourne Properties (Warwick) Limited
Ordinary*
Space4 Limited
Ordinary*
Springfir Estates Limited
Ordinary*
Springfir Holdings Limited
Ordinary*
Steelhaven (7) Limited
Ordinary* and 1% Non-Cumulative Redeemable
Participating Preference*
Tamborough Developments Limited
Ordinary*
Tela Properties Limited
Ordinary*
The Charles Church Group Limited
A Ordinary*
The Charles Church Group Share Trustees Limited
Ordinary*
Townedge (Holdings) Limited
Ordinary*
Townedge Estates Limited
Ordinary*
Trent Park Regeneration Limited
A Ordinary* and B Ordinary*
Tryall Developments Limited
Ordinary*
Name of undertaking
Description of shares held
Tudor Jenkins & Company Limited
Ordinary*
Walker Homes (Scotland) Limited Ordinary*
Wardour Limited (Incorporated in Gibraltar) Ordinary*
Wenshaw Limited
Ordinary*
Wescott Holdings Limited
Ordinary*
Wescott Homes Limited
Ordinary*
Wescott Land Limited
Ordinary*
Westbury Direct Limited
Ordinary*
Westbury Homes (Holdings) Limited
Irredeemable Preference*, Ordinary*, Deferred*
and 9.25% Preference*
Westbury Homes (Midlands) Limited
Ordinary*
Westbury Homes (Oval) Limited
Ordinary*
Westbury Homes (Severnside) Limited
Ordinary*
Westbury Homes (Somerset) Limited
Ordinary*
Westbury Homes (South West) Limited
Ordinary*
Westbury Homes (Stadium) Limited
Ordinary*
Westbury Homes (Venymore) Limited
A Ordinary* and B Ordinary*
Westbury Homes (Wales) Limited
Ordinary*
Westbury Homes (West Midlands) Limited
Ordinary*
Westbury Homes Limited
Ordinary*
Westbury Housing Investments Limited
Ordinary*
Westbury Limited
Ordinary
William Leech Builders (North West) Limited
Ordinary*
William Leech Limited
Ordinary* and 6.5% Cumulative Preference*
1 5 Joint arrangements
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Beechpath Limited
Ordinary
50%
50%
Bentwaters Housing Limited
Ordinary
50%
50%
Bentwaters Nominees Limited
Ordinary
50%
50%
Coton Park Consortium Limited
WD
50%
25%
6
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Cramlington Developments Limited
A Ordinary
100%
50%
Genesis Estates (Manchester) Limited
Ordinary
50%
50%
Gosforth Business Park Management Company Limited
A Ordinary
100%
33.3%
Haydon Development Company Limited
Ordinary
20.5%
20.5%
Leebell Developments Limited
A Ordinary
100%
50%
Newcastle Great Park (Estates) Limited
A Ordinary
100%
50%
North Haven Developments (Sunderland) Limited
B Ordinary
100%
50%
North Swindon Development Company Limited
Ordinary
15 %
15 %
Oxfordshire Land Limited
Ordinary
33.3%
33.3%
Quedgeley Urban Village Limited
C Ordinary
100%
25%
Rothley Temple Estates Limited
Ordinary
28.5%
28.5%
Sociedade Torre de Marinha Realizacoes Turisticas SA
(incorporated in Portugal)
Ordinary
50%
50%
Trafalgar Metropolitan Homes Limited
A Ordinary
100%
50%
Triumphdeal Limited
Ordinary
50%
50%
Wick 3 Nominees Limited
B Ordinary
100%
33.3%
7 8 2 8 9 10 11 12 The Group also has an investment in TopHat Enterprises Limited. * Share class held by another Group company, but ultimately held by Persimmon Plc. ** A Scottish Limited Partnership. 1. 180 Findochty Street, Garthamlock, Glasgow, G33 5EP 2. 3rd Floor Citygate, St. James\u2019 Boulevard, Newcastle upon Tyne, Tyne & Wear, NE1 4JE 3. 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland 4. 44 Esplanade, St Helier, JE4 9WG, Jersey 5. 3 Bell Lane, Gibraltar 6. The Office, 12 Westfield Close, Gravesend, Kent, DA12 5EH 7. 6 Europa Court, Sheffield Business Park, Sheffield, S9 1XE 8. 6 Drakes Meadow, Penny Lane, Swindon, Wiltshire, SN3 3LL 9. 250 Aztec West, Almondsbury, Bristol, BS32 4TR 10. 137 Scalby Road, Scarborough, North Yorkshire, YO12 6TB 11. Av. Duque de Loul\u00e9 47-2, 1050-086, Lisbon, Portugal 12. Gate House, Turnpike Road, High Wycombe, Buckinghamshire, HP12 3NR Resident Management Companies The companies listed below are Resident Management Companies (\u2018RMCs\u2019) currently controlled by the Group. Control is exercised by the Group\u2019s power to appoint Directors and the Group\u2019s voting rights in these companies. All RMCs are companies limited by guarantee without share capital (unless otherwise stated) and incorporated in the UK. The capital, reserves and profit or loss for the year have not been stated for these RMCs as beneficial interest in any assets or liabilities of these companies is held by the residents. These companies have not been included in the consolidated accounts, are temporary members of the Group and will be handed over to residents in due course. The Registered Office of each RMC is Persimmon House, Fulford, York, YO19 4FE (unless otherwise stated). Company name Abbey Green (Amesbury) Management Company Limited Abbeyvale Taunton Management Company Limited1 Abbot Walk (Chatteris) Residents Management Company Limited Ackton Pastures (Castleford) Management Company Limited Agusta Park Flats Yeovil Management Company Limited Agusta Park Yeovil Management Company Limited Amberwood (Carlisle) Management Company Limited Amblehurst Green (Billingshurst) Management Company Limited2 Arisdale (Phase 2) Residents Management Company Limited Arnold Way (Grove) Management Company Limited Arnold Way No. 2 (Grove) Management Company Limited Arnold Way No. 3 (Grove) Management Company Limited Ashworth Place (Phase 2) Management Limited Augusta Park (Dinnington) Management Company Limited Avalon (Mansfield) Management Company Limited3 Aveley Village (Thurrock) Management Company Limited Avon Fields (Durrington) Management Company Limited Awel Afan (Port Talbot) Management Company Limited Awel Y Mynydd (Pembrey) Management Company Ltd Aykley Woods (Durham) Management Company Limited Aylesham Village Phase 1B (Aylesham) Residents Management Company Limited Aylesham Village Phase 2 (Aylesham) Residents Management Co Ltd Aylesham Village Phase 2B And 2C (Aylesham) Residents Management Company Limited Backbridge (Malmesbury) Management Company Limited Badbury Park (Swindon) Management Company Limited Badbury Park (Swindon) No 2 Management Company Limited Badbury Park (Swindon) No 3 Management Company Limited Bannerbrook Management Company Limited4 Bannerbrook Park Phase II (Coventry) Management Company Limited Barber Court (Birmingham) Management Company Limited Barrington Park Management Company Limited 5 Barry Waterfront Residents Management Company Limited6 Beauchamp Grange (Caister) Residents Management Company Limited Beckets Grove Management Company Limited Beckets Grove Phase 2 (Wymondham) Residents Management Company Limited Beckford Road (Alderton) Management Company Limited Bedale Meadows Management Company Limited 7 Bell Lane (Little Chalfont) Management Company Limited Bells Hill Management Company Limited 8 Birchwood Manor (Wardley) Residents Management Company Limited Bishops Green (Coundon) Management Company Limited Bishops Mead (Lydney) Management Company Limited Bishops Meade (Downton) Management Company Limited Bluebell Meadow (Bradwell) Management Company Limited Bluebell Wood (Willenhall) Management Company Limited9 Bootham Crescent (York) Residents Management Company Limited Boulton Moor (Derby) Properties Limited Boyton Place (Haverhill) Residents Management Company Limited Brackenleigh (Carlisle) Management Company Limited Bradley Barton View Management Company Limited Bramble Rise (Hetton) Management Company Limited Bramblewood (Old Basing) Residents Management Company Limited6 Branshaw Park (Keighley) Management Company Ltd Bridgefield (Ashford) Management Company Limited Bridgefield Nine Management Company Limited Brindle Park (Bamber Bridge) Management Company Limited8 Broadway (Rainham) Residents Management Company Limited Brockeridge Road (Twyning) Resident Management Company Limited1 Brookfield (Golborne) Management Company Limited5 Broomhill View (Togston) Residents Management Company Limited Buckton Place (Leiston) Residents Management Company Limited Bugbrooke Road (Kislingbury) Management Company Limited11 Burfield Valley Estate Management Limited12 Buttercup Leys (Boulton Moor) Residential Management Company Limited Buzzard Meadows (Leighton Buzzard) Residents Management Company Limited13 Calder Grange (Dewsbury) Management Company Limited Canalside (Burton Upon Trent) Residential Management Company Limited Canonbury Rise (Berkeley) Management Company Limited Carleton Meadows Management Company Limited Carn Y Cefn RMC Ltd14 Carpenters Field (Denmead) Management Company Limited Castellum Grange (Colchester) Residents Management Company Limited Castle Hill (Cottingham) Management Company Limited Castle Park (West Durrington) Management Company Limited Castle View (Netherton) Management Company Limited Castlemead (953) Trowbridge Management Company Limited Castlemead (Persimmon 950) Town Trowbridge Limited Castlemead (Persimmon 964) Town Trowbridge Limited Castleton Court (Haverfordwest) Management Company Limited Cathedral Court (Salisbury) Management Company Limited Cathedral Gate (Salisbury) No.2 Management Company Limited 6 Cathedral View (Durham) Management Company Limited Cayton Meadows (Scarborough) Management Company Limited Century Rise (Emersons Green) Management Company Limited Chancery Park (Exning) Residents Management Company Limited Charlton Place (Keynsham) Management Company Limited Chaucers Meadow (North Petherton) Management Company Limited Chilmark Glade Management Company Limited Chorley G 1 Management Company Limited 8 Church Lane (Deal) Residents Management Company Limited Clarence Place (Bracknell) Residents Management Company Limited Cloatley Cresent Management Company Limited Clock Tower (Wolverhampton) Management Company Limited 8 Clos Ty Gwyn (Hendy) Management Company Limited Clover Chase (Lingwood) Residents Management Company Limited Coastal Dunes (Lytham St Annes) Management Company Limited Coatham Vale and Berrymead Gardens Residents Management Company Limited 7 Coed Darcy (Llandarcy) Management Company Limited College Park (Thurston) Residents Management Company Limited Colliers Walk (Nottingham) Management Company Limited 8 Colonial Wharf (Chatham) Residents Management Company Limited Coopers Grange (Bishops Stortford) Resident Management Company Ltd 8 Copperfield Place (Chelmsford) Residents Management Company Limited Copperfield Truro Management Company Limited Coquet Grange (Amble) Management Company Limited Corelli Sherborne Management Company Limited Cote Farm (Thackley) Management Company Limited Coton Park (Rugby) Management Company Limited Cotswold Vale (Long Marston) Management Company Limited 1 Coverdale Paignton Management Company Limited 1 Crofton Walk (Fair Oak) Management Company Limited Cromwell Gardens (Huntingdon) Residents Management Company Limited Cromwell Place (Little Dunmow) Residents Management Company Limited Crosland Road (Lindley) Management Limited 15 Cross Quays (Westwood) Management Company Limited Cross Quays Phase 2 (Thanet) Residents Management Company Limited Cumnor Hill Management Company Limited Cwrt Y Llwyfen (Johnstown) Management Company Limited Cygnet Grange (Swanmore) Residents Management Company Limited Daisy Hill (Morley) Management Company Limited Daisy\u2019s View (Burbage) Management Company Limited Dan Y Bryn Management Company Limited Dartford Bow Arrow (Management Company) Limited 16 De Vere Grove (Colchester) Residents Management Company Limited Deerwood Park (Colne) Management Company Limited Dol Yr Ysgol (Bridgend) Management Company Limited Douglas Gardens (Hesketh) Management Company Ltd 8 Downs View (Swanley) Residents Management Company Limited Dukes Meadow (Tangmere) Management Company Limited D\u2019urton Heights (Preston) Management Company Limited Earlesmead (Framingham Earl) Residents Management Company Limited East Benton Rise (Benton) Management Company Limited Eclipse House (Andover) Management Company Limited Edinburgh Park (Liverpool) Management Company Limited 8 Eldon Whins (Middridge) Management Company Limited 7 Elkas Rise (Ilkeston) Management Company Limited Ellesmere Park (The Oaks) Management Company Limited 5 Ellis Mews (Micheldever) Management Company Limited 12 Elm Farm (Wymondham) Residents Management Company Limited Elm Rise (Birtley) Residents Management Company Limited Emily Fields (Swansea) Management Company Limited Eton Place (Bracknell) Management Company Limited Eve Parc (Falmouth) Management Company Limited Fair Mile Rise (Blandford St Mary) Management Company Limited Fairfax Mews Crediton Management Company Limited 1 Fairmoor (Morpeth) Management Company Limited Fairways (Retford) Management Company Limited Fallow (Benton) Residents Management Company Limited Farley Fields South Petherton Management Company Limited 1 Fatherford View (Okehampton) Management Company Limited Festival Park (Easton) Residents Management Company Limited Fiddington Fields (Tewkesbury) Management Company Limited Field Place (Faversham) Management Company Limited 16 Fishpool Hill Bristol Management Company Limited Fleckney Road Management Company Limited Flint Grange (Clacton) Residents Management Company Limited Foley Gardens (Newent) Residential Management Company Limited1 Folly Grove (Hockley) Residents Management Company Limited Forest View (Calverton) Management Company Limited Forge Wood (Crawley) Management Company Limited17 Foundry Meadows (Bexhill) Residents Management Company Limited Foxes Chase (Anlaby) Residents Management Company Limited Foxfields (Stoke-On-Trent) Management Company Limited6 Foxley Park (Dereham) Residents Management Company Limited Garden Valley (Aylesham) Residents Management Company Limited12 Garendon Park Residents Management Company Ltd George Ward Gardens (Melksham) Management Company Limited Germany Beck (Fulford) Management Company Limited Gilden Park (Old Harlow) Resident Management Company Limited 8 Gipping Mill (Great Blakenham) Residents Management Company Limited Glan Yr Afon (Swansea) Management Company Limited Golwg Y Glyn (Fforest) Management Company Limited 6 Golwg Y Mynydd (Mountain Ash) RMC Ltd14 Gotherington Grange Resident Management Company Limited Grange Paddocks (Stanway) Residents Management Company Limited Grangewood Park (Burnham On Crouch) Residents Management Company Limited Grays Court (Orpington) Residents Management Company Limited12 Great Western Park (Didcot) No 1 Management Company Limited Great Western Park (Didcot) No 2 Management Company Limited Great Western Park (Didcot) No 3 Management Company Limited Great Woodcote Park Exeter Management Company Limited Greenacres (Easington) Management Company Limited Greenfields (Narberth) Management Company Limited Greetwell Fields (Lincoln) Residents Management Company Limited Griffin Wharf (Ipswich) Residents Management Company Limited Grove Street (Raunds) Residents Management Company Limited Hailes Wood (Elsenham) Residents Management Company Limited Hamilton Gate (Frinton) Residents Management Company Limited Hampton Gardens Phase 3 (Peterborough) Residents Management Company Ltd Hampton Park (Littlehampton) Residents Management Company Limited Hansons Reach (Stewartby) Residents Management Company Limited Hanwell Chase (Banbury) Residents Management Company Limited Harbourside View (Portchester) Management Company Limited Harbury Lane (Warwick) Management Company Limited Hardings Wood (Kidsgrove) Residents Management Company Limited5 Harebell Meadows And Hartburn Grange Residents Management Company Limited5 Harford Mews Ivybridge Management Company Limited1 Harlands Park (Uckfield) Residents Management Company Limited Harlow Fields (Mackworth) Residential Management Company Limited Harlow Hill Grange (Harrogate) Management Company Limited Harpur Hill (Buxton) Residents Management Company Limited5 Harrow View West (Harrow) Residents Management Company Limited Hartley Grange (Whittlesey) Residents Management Company Limited Hartnells Farm Management Company Limited Hastings Place (Bentley) Management Company Limited Hatchwood Mill (Winnersh) Management Company Limited Hatfield Lane Armthorpe Management Company Limited7 Hathern Road (Shepshed) Management Company Limited1 Hauxley Grange (Amble) Residents Management Company Limited Hawthorn Chase (Aston Clinton) Residents Management Company Limited Hawthorne Farm (Clitheroe) Management Company Limited5 Haywards Gardens (Kegworth) Man Co. Limited18 Haywood Heights (Writhlington) Management Company Limited Hazelmere (Flockton) Management Company Limited Heathfield Gardens (Phase 7) Management Company Limited Heathpark Wood (Windlesham) Management Company Limited Hellingly 415 Residents Management Company Limited Hellingly 416 Management Company Limited Hellingly 418 Management Company Limited Hepburn Chase Management Company Limited1 Heritage Gate (Llantwit Major) Residents Management Company Limited Heritage Green (Newbottle) Management Company Limited19 Heritage Park (Shinfield) Residents Management Company Limited Heritage Park (Sutton Courtenay) Residents Management Company Limited Herne Vale Ilminster Management Company Limited Herons Park (Angmering) Management Co Ltd Herrington Grange (Philadelphia) Management Company Limited Hethersett Residents Management Company Limited8 Heugh Hall (Coxhoe) Residents Management Company Limited Higham Lane Management Company Limited Highfield Farm (West Melton) Residents Management Company Limited Highland Park Estate Management Company Limited* 20 Hill Barton Vale Exeter Management Company Limited Hill Barton Vale Flats Exeter Management Company Limited Hillfield Meadows (Sunderland) Management Company Limited Hillies View (Wombwell) Management Company Limited Holdingham Grange (Sleaford) Residents Management Company Limited Holly Fields (Birmingham) Management Company Limited Homington Avenue (Swindon) Local Centre Management Company Limited Honours Meadow (Rendlesham) Residents Management Company Limited Horsbere Mews (Longford) Management Company Limited 21 Horseshoe Meadows (Westbury) Management Company Limited HRC (Ware) Residents Management Company Limited Hunters Edge (Eaglescliffe) Residents Management Company Limited Hurdle Court (Andover) Management Company Limited Hydro (St Neots) Number One Management Company Limited Ingleby (Barwick) Management Company Limited Iwade Meadows (Iwade) Management Company Limited Iwade Meadows (Yalding Apartments Plots 74-79) Management Company Limited Jasmine Gardens Management Company Limited Jubilee Gardens (Warminster) Management Company Ltd Jubilee Rise (Shepshed) Management Company Limited Kenilworth Gate Management Company Limited Kennedy Place (Ulverston) Management Company Limited Kings Grove Cranbrook Management Company Limited Kingsbridge Court (Gorseinon) Management Company Limited Kingsbury Gardens (St Albans) Residents Management Company Limited Kingsbury Meadows (Wakefield) Management Company Limited Kingsmead (Gloucester) Management Company Limited Knights Court (Old Sarum) Management Company Limited Knightswood Place (Rainham) Residents Management Company Limited Ladgate Woods (Middlesbrough) Management Company Limited Lakedale Whiteley Meadows (North Whiteley) Management Company Limited Lakeside Edge (Peterborough) Residents Management Company Limited Lambourn Meadow (Thatcham) Management Company Limited 22 Laneside (Morley) Residents Management Company Limited Larkbear Management Company Limited 6 Lauder Mews Crediton Management Company Limited Launds Field (Galgate) Management Company Limited Laureate Heights Sidmouth Management Company Limited Lavender Fields (South Wootton) Residents Management Company Ltd Lime Tree Court Derby Management Company Limited Limes Place (Upper Harbledown) Residents Management Company Limited Lindale Park (Alverthorpe) Management Company Limited Lindley Moor Meadows (Huddersfield) Management Company Limited Lingfield Meadows (Houghton) Management Company Limited Llanilid Management Company Limited Llanilltern Apartments RMC Ltd 14 Llanilltern Village RMC Ltd 14 Llys Ystrad (Bridgend) Management Company Limited 23 Lodmoor Sands (Weymouth) Management Company Limited 6 Longbridge Place (Longbridge) Management Company Limited Longleaze Management Company Limited Low Moor Meadows (Morley) Management Company Limited Low Street (Sherburn In Elmet) Management Company Limited 19 Lowen Bre Truro Management Company Limited Lucknam Crescent (Swindon) Management Company Limited Lythalls Lane (Coventry) Management Company Limited 21 Maes Dyfed Management Company Limited Maes Y Parc (Cross Hands) Management Company Limited Maes Y Rhos (Ystradgynlais) Management Company Limited Maiden Vale (Ryhope) Management Company Limited Malvern Rise (Malvern) Management Company Limited Malvern Vale (Malvern) Management Company Limited 21 Manor Farm (Doncaster) Management Company Limited Manor Farm (Micklefield) Management Company Limited Manor Gardens (Selsey) Management Company Limited Manor Park Sprowston Residents Management Company Limited 8 Manor Place (Maidenhead) Residents Management Company Limited Manor Vale Residents Management Company Limited 11 Maple (129) Limited 22 Maple Oak (Alton) Management Company Limited 6 Mariners Walk (Swansea) Apartment Management Company Limited* Mariners Walk (Swansea) Management Company Limited* Marshfoot Lane (Hailsham) Residents Management Company Limited Martello Park (Pembroke) Management Company Limited Martineau Gardens Harborne Management Company Limited 9 Mascalls Grange (Paddock Wood) Residents Management Company Limited Meadow View (Oundle) Management Company Limited Meadow View (Redditch) Resident Management Company Limited 21 Meon Way Gardens Management Company Limited 21 Merchants Walk Cullompton No 2 Management Company Limited Mercians Place Management Company Limited 21 Meridian Place (Hertford) Residents Management Company Ltd Merlins Lane (Scarrowscant) Management Company Limited Mersey View (Bromborough Pool) Management Company Limited 24 Mill Gardens (Cullompton) Management Company Limited Mill Valley (Pevensey) Residents Management Company Limited Mill View (Willingdon) Management Company Limited Millbeck Grange (Bowburn) Management Company Limited Millennium Farm (New Waltham) Management Company Limited Monkswood (Sacriston) Management Company Limited Montague Park Residents Management Company Limited 25 Montfort Place (Odiham) Management Company Limited8 Moorfield (Easington) Management Company Limited Moorfield Park Management Company Limited8 Moorlands Walk (Sherburn) Management Company Limited Mulberry Grange (Castleford) Management Company Limited Mulberry Grove (St Fagans Cardiff) Management Company Limited Nelson\u2019s Park (North Walsham) Residents Management Company Limited NGP Management Company (Cell E) Limited*10 NGP Management Company (Cell F) Limited*10 NGP Management Company (Commercial) Limited*10 NGP Management Company (Town Centre) Limited*10 NGP Management Company Residential (Cell G) Limited*10 Oak Heights (Northiam) Residents Management Company Limited12 Oak Tree Gardens (Audley) Management Company Limited15 Oakcroft Chase (Stubbington) Management Company Limited Oakhurst Village (Shirley) Management Company Limited Oakland Gardens (Wilthorpe) Management Company Limited Oakwood Meadows (Colchester) Residents Management Company Limited Oakwood Meadows Phase 4 (Stanway) Residents Management Company Limited Oakwood Park (Wymondham) Residents Management Company Limited Oakwood View (Brackla) Management Company Limited Oakwood View (Weston-Super-Mare) Management Company Limited Oast Court Farm Management Company Limited26 Old Road (Churwell) Management Company Limited Open Space Management Limited15 Orchard Croft (Diss) Residents Management Company Limited Orchard Grove (Coxheath) Residents Management Company Ltd Orchard Manor (Cheddington) Residents Management Company Limited Orchard Meadows (Iwade) Residents Management Company Limited Orchard Mews Pershore Management Company Limited21 Otterham Park (Rainham) Residents Management Company Limited Oxley Springs (Milton Keynes) Management Company Limited Oxley Springs 8B (Milton Keynes) Management Company Limited Paddocks 21 (Andover) Management Company Limited Palmerston Heights Plymouth Management Company Limited Paragon Park (Coventry) Management Company Limited Parc Brynderi (Llanelli) Management Company Limited Parc Yr Onnen (The Limes) Management Company Limited Park Farm (South East) Management Company Limited 27 Parklands (Hessle) Residents Management Company Limited Parklands (Maidstone) Management Company Limited27 Parrett Gardens (Langport) Management Company Limited Pavilion Gardens (Monkton Heathfield) Management Company Limited Pedlars Meadow (Swaffham) Residents Management Company Limited Pembridge Court (Clehonger) Residents Management Company Limited21 Penny Pot Lane (Harrogate) Management Company Limited7 Perry Park View (Perry Barr) Management Company Limited 21 Persimmon Gardens (Hindley) Management Company Limited5 Persimmon Gardens (Martham) Residents Management Company Limited Persimmon Grange Framlingham Residents Management Company Limited Persimmon Homes The Oaks (Selly Oak) Management Company Limited 21 Phoenix Park (Dunstable) Residents Management Company Limited Phoenix Wharf (West Bromwich) Management Company Limited21 Picket 20 Management Company Limited Picket Twenty Two (Andover) Management Company Limited Porth Y Dyffryn (Merthyr Tydfil) Residents Management Company Limited Portland Park (Ashington) Management Company Limited Pottery Gardens (Cheadle) Residents Management Company Limited5 Priory Meadows (Bodmin) Management Company Limited Quantock View Management Company Limited Quinta Mews Management Company Limited28 Rackheath Residents Management Company Limited Radstone Road (Brackley) Management Company Limited Rainton Gardens (Chilton Moor) Management Company Limited Rainton Meadows (Chilton Moor) Management Company Limited19 Ramsdell (Ashford Hill) Management Company Limited Rectory Lane (Standish) Management Company Limited Redhayes Management Company Limited29 Redland Grange (Cottenham) Residents Management Company Limited Regent Park (Calne) Management Company Limited Regents Place (Chellaston) Management Company Limited21 Repton Park 18 (Ashford) Residents Management Company Limited Repton Park 19-23 (Ashford) Residents Management Company Limited Repton Park 8 & 10 (Ashford) Residents Management Company Ltd Rivendell (Gedling) Management Company Limited Riverbourne Fields Management Company Limited Rose Manor (Hadleigh) Residents Management Company Limited Roseberry Park (Pelton) Management Company Limited Salterns (Terrington) Residents Management Company Limited Saltram Meadow Plymouth Management Company Limited Samford Gardens (Capel St Mary) Residents Management Company Limited Sandfield Walk (Nottingham) Management Company Limited Sandgate Drive (Kippax) Management Company Limited Sandpipers (Minster) Residents Management Company Limited Saxon Fields (Bridgwater) Management Company Limited Saxon Grange (Shaftesbury) Management Company Limited Saxon Grove (Purton) Management Company Limited Saxon Meadow (Sutton On Trent) Residents Management Company Limited Saxons Chase (Headcorn) Residents Management Company Limited Scarlett Mews (Tiptree) Residents Management Company Limited Scholar\u2019s Green (Northampton) Residents Management Company Limited11 Seaside Lane (Easington) Management Company Limited Seaton Vale (Ashington) Residents Management Company Limited Sharpes Meadow (Heybridge) Residents Management Company Limited Sherborne Fields (Basingstoke) Management Limited Sherborne Fields Apartments Ph6 (Basingstoke) Management Company Limited Shilton Place (Coventry) Management Company Ltd30 Shirewood (Beighton Road) Management Company Limited Silver Hill (Preston) Management Company Limited Silverwood (Garforth) Management Company Limited Solway View (Workington) Management Company Limited Sonnet Park (Stratford) Management Company Limited1 Sovereign Quarter (Gillingham) Management Company Limited Speckled Wood (Carlisle) Management Company Limited Spring Meadows (Darwen) Management Company Limited 8 St Andrews (Uxbridge) Management Company Limited21 St Andrews Park (Phase 3C Uxbridge) Management Company Limited 31 St Andrews Park (Vine Lane 1A) Management Company Limited21 St Andrews Park (Vine Lane 2A) Management Company Limited 21 St Andrews Park 2B/3A (Churchill Road, Uxbridge) Management Company Limited21 St Andrews Park 3B (Uxbridge) Management Company Limited21 St Andrews Ridge (Swindon) Management Company Limited St Dunstans Place (Burbage) Management Company Limited St Edeyrns Apartments (Cardiff) RMC Limited St Edeyrns Village (Cardiff) Residents Management Company Limited St Edmunds (Frome) Management Company Limited St George (Lancaster) Management Company Limited St Georges Keep Management Company Limited St James Park (Bramley) Residents Management Company Limited St Johns (Lichfield) Management Company Limited St Michaels Place (Colchester) Residents Management Company Limited St Michaels Way (South Ryhope) Residents Management Company Limited St Peters Place (Salisbury) Management Company Limited Stanbridge Meadows (Petersfield) Management Company Limited Stanford Meadows (Stanford-Le-Hope) Residents Management Company Limited Stanton Chase (Swindon) Management Company Limited Staynor Hall 4 (Selby) Residents Management Company Limited Staynor Hall K (Selby) Management Company Limited Stephenson Park (Wallsend) Residents Management Company Limited Stortford Fields (Bishops Stortford) (Persimmon) Resident Management Company Limited Strawberry Fields Penryn Management Company Limited Stream View Management Limited 28 Swan Park (Dawlish) Management Company Limited Sycamore Gardens (Oakdale) RMC Ltd14 Sycamore Rise (Thame) Residents Management Company Limited Tanners Meadow (Strood Green) Management Company Ltd 2 Tarraby View (Carlisle) Management Company Limited Teasdale Place (Carlisle) Management Company Limited The Acorns (Shirley) Management Company Limited21 The Alders (Gilwern) Residents Management Company Limited The Blossoms (Blackburn) Management Company Limited8 The Boulevards (East Tilbury) Residents Management Company Limited The Boulevards (Newport) Residents Management Company Limited The Bridge (Dartford) 29 And 31A Residents Management Company Limited The Bridles (Ffos Las) Management Company Limited14 The Carriages (Burscough) Management Company Limited The Cottons (Holmes Chapel) Management Company Limited The Croft (Burgess Hill) Residents Management Company Limited The Edge (Hempstead) Management Limited The Fell (Lyde Green) Management Company Limited 6 The Gateway (Colchester) Residents Management Company Limited The Goldings Newquay Management Company Limited The Grange (Chalfont St Peter) Management Company Ltd The Grange (Chepstow) Limited The Grange (Wellesbourne) Management Company Limited21 The Hamptons (Newcastle) Resident Management Company Limited5 The Haven (Swansea) Management Company Limited The Hawthorns (Market Harborough) Management Company Limited The Heath (Sandbach) Management Company Ltd8 The Hedgerows (Alsager) Management Company Ltd5 The Heights (Newark) Residents Management Company Limited The Lancasters (Cambridge) Residents Management Company Limited The Landings (Waddington) Residents Management Company Limited The Links (Machynys East) Management Company Limited6 The Maples (Cressing) Residents Management Company Limited The Maples (NGP) Management Company Limited The Maples (Weston) Residents Management Company Limited The Middles (Stanley) Management Company Limited The Mile (Pocklington) Management Company Limited The Nightingales (Helpston) Residents Management Company Limited 32 The Oaklands (NGP) Residents Management Company Limited The Orchard (Fenstanton) Residents Management Company Limited 33 The Paddocks (Aintree) Management Company Limited 5 The Paddocks (Farcet) Residents Management Company Limited The Paddocks (Highworth) Management Company Limited 5 The Pastures (Lowton) Management Company Limited 5 The Pinnacles Management Company (Thamesmead) Limited The Poppies (Harleston) Management Company Limited The Poppies Management Company Limited The Priory (Llandough) Residents Management Company Limited 34 The Reeds Lower Halstow Management Ltd 28 The Rosary (Emersons Green) Management Company Limited The Rydons Exeter Number Two Management Company Limited The Sands (Durham) Management Company Limited The Shires (Oswaldtwistle) Management Company Ltd 8 The View (Redditch) Management Company Limited 21 The Village, Aveley Phase II Residents Management Company Limited The Weald (Easingwold) Management Company Limited The Wickets (Penenden Heath) Residents Management Company Limited The Willows (Downham Market) Residents Management Company Limited The Willows Earlestown (Newton Le Willows) Management Company Limited 24 The Windmills (Kirton) Residents Management Company Limited Thornley Woods (Gateshead) Management Company Limited Tilbury Fields (Oxford) Management Company Limited 8 Tir Y Bont (Bridgend) Management Company Limited Towcester Grange (Towcester) Residents Management Company Limited 18 Trelawny Place (Felixstowe) Residents Management Company Limited Trevelyan Grange (Morpeth) Residents Management Company Limited Trevethan Meadows Liskeard Management Company Limited Trinity Pastures (Calvert Lane Hull) Residents Management Company Limited Tundra Point (Emersons Green) Management Company Limited Valley Heights (Frome) Management Company Limited 1 Village Mews (Southowram) Management Company Limited Walmsley Park (Leigh) Management Company Ltd 5 Watercress Way Management Company Limited 28 Waterfield Place (Market Harborough) Residential Management Company Limited Waters Edge (Buckshaw) Management Company Limited 24 Waterside At The Bridge Management Company Limited Watling Place (Newington) Residents Management Company Ltd Weavers Meadow Estates Management Company Limited Weavers Meadow Phase 2 (Hadleigh) Residents Management Company Limited Weavers Place (Skelmanthorpe) Management Company Limited Weavers View (Pleasley Hill) Residents Management Company Limited Weavers Wharf Apartments (Coventry) Management Company Limited Wellington Gate (Grove) Management Company Limited Wellington Gate (Maresfield) Management Company Limited Wellswood Park (Reading) Residents Management Company Limited Wentworth Green Management Company Limited Westhaven Apartments (Barry) Residents Management Company Limited Westhoughton (Lee Hall) Residents Management Company Limited 5 Weston Park Limited Westvale Park (Horley) Management Company Limited 2 Westwood Park (Churwell) Management Company Limited White Rose Park (Norwich) Residents Management Company Ltd Whiteford Mews Management Company Limited Whitewood Park (Bristol) Management Company Limited Whittington Walk (Worcester) Management Company Limited 21 Whitworth Dale Management Company Limited Willow Court (Abergavenny) RMC Limited Willow Park (Aylsham) Management Company Limited Windmill View (Stanground) Residents Management Company Limited Windrush Place Witney Management Company Limited Wombwell (Barnsley) Management Company Limited Woodhorn Meadows (Ashington) Residents Management Company Limited Woodland Gardens (Pyle) Management Company Limited Woodland Rise (Great Cornard) Residents Management Company Limited Worcester Gate (Worcester) Management Company Limited 21 Wykham Park (Banbury) Management Company Ltd 5 Yew Tree Farm (Droitwich) Management Company Limited 21 Yew Tree Gardens (Tuffley) Management Company Limited 1. Queensway House, 11 Queensway, New Milton, BH25 5NR 2. Homer House, 8 Homer Road, Solihull, B91 3QQ 3. Fountain House, Southwell Road West, Mansfield, NG18 4LE 4. Persimmon House, Birmingham Road, Studley, B80 7BG 5. Unit 7 Portal Business Park, Eaton Lane, Tarporley, CW6 9DL 6. Fisher House, 84 Fisherton Street, Salisbury, SP2 7QY 7. Cheviot House, Beaminster Way East, Newcastle Upon Tyne, NE3 2ER 8. RMG House, Essex Road, Hoddesdon, EN11 0DR 9. 11 Little Park Farm Road, Fareham, PO15 5SN 10. 3rd Floor City Gate, St. James\u2019 Boulevard, Newcastle Upon Tyne, Tyne and Wear, NE1 4JE 11. Unit A5 Optimum Business Park, Optimum Road, Swadlincote, DE11 0WT 12. 94 Park Lane, Croydon, CR0 1JB 13. Persimmon Homes, 3 Waterside Way, Northampton, NN4 7XD 14. 46 Whitchurch Road, Cardiff, CF14 3LX 15. North Point, Stafford Drive, Battlefield Enterprise Park, Shrewsbury, SY1 3BF 16. Burlington House, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF 17. Unit 8, The Forum Minerva Business Park, Peterborough, PE2 6FT 18. 2 Hills Road, Cambridge, CB2 1JP 19. 4335 Park Approach, Thorpe Park, Leeds, LS15 8GB 20. Suite 7 Aspect House, Pattenden Lane, Marden, TN12 9QJ 21. 11 Queensway House, Queensway, New Milton, BH25 5NR 22. 250 Aztec West, Almondsbury, Bristol, BS32 4TR 23. Vantage Point, 23 Mark Road, Hemel Hempstead, HP2 7DN 24. Gateway House, 10 Coopers Way, Southend-On-Sea, SS2 5TE 25. 20 King Street, London, EC2V 8EG 26. Acorn Estate Management, 9 St Marks Road, Bromley, BR2 9HG 27. Foundation House, Coach & Horses Passage, Tunbridge Wells, TN2 5NP 28. Scholars House, 60 College Road, Maidstone, ME15 6SJ 29. Woodwater House, Pynes Hill, Exeter, EX2 5WR 30. 1st Floor Lancaster House, 67 Newhall Street, Birmingham, B3 1NQ 31. 72 Victoria Road, Ruislip, HA4 0AH 32. Unit 9, Astra Centre, Edinburgh Way, Harlow, CM20 2BN 33. 17 Apple Tree Close, Fenstanton, Huntingdon, PE28 9FJ 34. Avon House, Stanwell Road, Penarth, Wales, CF64 2EZ * Private limited company ", "dimensions": { "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-395": { "value": "16.2 Investments in subsidiaries
2023 2022
\u00a3m \u00a3m
Cost
At 1 January 2022, 31 December 2022 and 31 December 2023
3,540.7
3,540.7
Impairment
At 1 January 2022, 31 December 2022 and 31 December 2023
335.0
335.0
Net book value
At 1 January 2022, 31 December 2022 and 31 December 2023
3,205.7
3,205.7
The annual review of the carrying value of the investment in subsidiaries saw the group undertake an impairment review to ensure the carrying value of the investment was supportable. This resulted in \u00a3nil impairment issues (2022: \u00a3nil impairment). Details of Group undertakings are set out in notes 32 and 33. 34 Details of all subsidiary undertakings Persimmon Group subsidiary companies The following companies, included in these consolidated accounts, are wholly owned by the Persimmon Group and are incorporated in the UK unless otherwise stated. Persimmon Plc or its subsidiary companies also hold all of the voting rights unless otherwise stated. The Registered Office for each company is Persimmon House, Fulford, York, YO19 4FE unless otherwise stated.
Name of undertaking
Description of shares held
@Home Limited
Ordinary* and 3.5% Preference*
A.E.A Prowting Limited
Ordinary*
A Monk & Company Developments (S.W.) Limited
Ordinary* and Deferred*
Name of undertaking
Description of shares held
Alford Brothers Limited
Ordinary*
Anjok 157 Limited
Ordinary*
Anjok 171 Limited Ordinary*
Anjok 172 Limited
Ordinary*
Anjok 173 Limited
Ordinary*
Anjok 269 Limited Ordinary* and Deferred*
Anjok 28 Limited
Ordinary* and 8% Preference*
Anjok 31 Limited
Ordinary*
Anjok Five (1996) Limited
Ordinary*
Anjok Holdings Limited
Ordinary* and Deferred*
Anjok Investments Limited
Ordinary*
Anjok Twenty Limited A Ordinary* and B Ordinary*
Anjok Two Limited
Ordinary*
Aria Homes Limited
A Ordinary* and B Ordinary*
Arthur S Nixon and Company
1% Non-Cumulative Preference* and Ordinary*
Aspect Homes Limited
Ordinary*
Atlantis One Limited
Ordinary* and Preference*
Beazer Group Limited
Ordinary*
Beazer Homes (Anglia) Limited
Deferred* and A Ordinary*
Beazer Homes (Barry) Limited
Ordinary*
Beazer Homes (FLE) Limited
A Ordinary* and B Ordinary*
Beazer Homes (FNLHS) Limited
Ordinary*
Beazer Homes (South Wales) Limited
Ordinary*
Beazer Homes (Wessex) Limited
Ordinary*
Beazer Homes and Property Limited
Ordinary*
Beazer Homes Bedford Limited
Deferred* and A Ordinary*
Beazer Homes Birmingham Central Limited
Deferred* and A Ordinary*
Beazer Homes Bridgwater Limited
Deferred* and A Ordinary*
Beazer Homes Bristol Limited
Deferred* and A Ordinary*
Beazer Homes Cardiff Limited
Deferred* and A Ordinary*
Beazer Homes Doncaster Limited
Deferred* and A Ordinary*
Beazer Homes Edinburgh Limited Deferred* and A Ordinary*
Beazer Homes Glasgow Limited Deferred* and A Ordinary*
1 1 1 1 1
Name of undertaking
Description of shares held
Beazer Homes Limited
Ordinary*, Deferred* and A Ordinary*
Beazer Homes Nottingham Limited
Ordinary*
Beazer Homes Reigate Limited
Ordinary*
Beazer Homes Stockport Limited
Deferred* and A Ordinary*
Beazer Homes Yateley Limited
Deferred* and A Ordinary*
Beazer London Limited
Ordinary*
Beazer Partnership Homes (Scotland) Limited Ordinary*
Beazer Partnership Homes Midlands Limited
Ordinary*
Beazer Swaffham Limited
Ordinary*
Beazer Urban Developments (Anglia) Limited
Deferred* and A Ordinary*
Beazer Urban Developments (Bedford) Limited
Ordinary*
Beazer Urban Developments (East Midlands) Limited
Ordinary*
Beazer Urban Developments (South West) Limited
Ordinary*
Beazer Western Engineering Services Limited
Ordinary*
Belsco 1020 Limited Ordinary*
Breakblock Limited
Ordinary*
Broomco (3385) Limited
Ordinary*
Bruce Fletcher (Leicester) Limited
Ordinary*
Charles Church Civil Engineering Limited
Ordinary*
Charles Church Developments Limited
Ordinary*
Charles Church Essex Limited
Ordinary*
Charles Church Estates Limited
Ordinary*
Charles Church Holdings plc
A Convertible Ordinary*, B Ordinary*, B Redeemable
Preference*, C Preference*, D Ordinary*, D Preference*,
Deferred*, E Deferred*, E Ordinary* and Preference*
Charles Church Housing Limited
Ordinary*
Charles Church Investment Properties Limited
Ordinary*
Charles Church Kent Limited
Ordinary*
Charles Church Limited
Ordinary*
Charles Church London Limited
Ordinary*
Charles Church Management Limited
Ordinary*
Charles Church Partnership Homes Limited
Ordinary*
Charles Church Residential Developments Limited
Ordinary*
1
1
Name of undertaking
Description of shares held
Charles Church South East Limited
Ordinary*
Charles Church Southern Limited
Ordinary*
Charles Church Thames Valley Limited
Ordinary*
Charles Church Trading Limited
Ordinary*
Charles Church Village Heritage plc
Ordinary*
Coatglade Limited
Ordinary*
Comben Group Limited
A Deferred Ordinary, B Deferred Ordinary and Ordinary
Cresswellshawe Properties Limited
Ordinary* and 3.5% Preference*
Crowther Homes (Darlington) Limited
Ordinary*
Crowther Homes (Midland) Limited
Ordinary*
Crowther Homes (Nat W) Limited
Ordinary*
Crowther Homes (Yarm) Limited
Ordinary*
Crowther Homes Limited
Ordinary*
D Dunk (Builders) Limited
Ordinary*
D R Dunthorn & Son Limited
Deferred*, Deferred* and Ordinary*
Datblygwyr Dorothea Limited (94% of nominal value owned)
Ordinary*
Delany Brothers (Housebuilders) Limited
Ordinary* and Preference*
Domus Group Limited
Deferred*, Deferred* and A Ordinary*
E.E. Reed & Co. (Builders) Limited
Ordinary*
E F G H Limited
Ordinary*
E F G H Nominees Limited
Ordinary*
Emerson Park Limited
Ordinary*
F C Spear Limited
Ordinary*
Ferry Quay Developments Limited
A Ordinary*, B Ordinary* and C Ordinary*
Flex Fibre Limited
Ordinary*
FibreNest Limited
Ordinary*
FibreScale Limited
Ordinary*
Frays Property Management (No.1) Limited
Ordinary*
Frays Property Management (No.2) Limited
Ordinary*
Frays Property Management (No.6) Limited
Ordinary*
Friary Homes Limited
Ordinary*
Galliford Developments Limited
Ordinary*
Name of undertaking
Description of shares held
Galliford Homes (London) Limited
A Ordinary* and B Ordinary*
Galliford Homes Holdings Limited
A Ordinary*, B Ordinary* and Preference*
Galliford Homes Limited
Ordinary*
Galliford Properties Southern Limited
Ordinary*
Galliford Southern Limited
Ordinary*
Geo. Wright & Co. (Contractors Wolverhampton) Limited
Deferred*, A Deferred* and A Ordinary*
Glamford Building Company Limited
Ordinary*
Gomersal Mills Limited
Deferred* and Ordinary*
Gosforth Business Park Management Company (No.2) Limited
Ordinary*
Haven Retirement Homes Limited
Ordinary*
Hazels Development Company Limited
A Ordinary* and B Ordinary*
Hillreed Developments Limited
Ordinary*
Hillreed Holdings Limited
Ordinary*, Management Shares* and Cumulative Preference*
Hillreed Homes Limited
Ordinary*
Hillreed Properties Limited
Ordinary*
Horsebridge Network Systems Limited
A Ordinary*
Ideal Developments Limited
Ordinary*
Ideal Homes (UK) Limited
Ordinary*
Ideal Homes Anglia Limited
Ordinary*
Ideal Homes Central Limited
A Non-Voting Ordinary* and B Ordinary*
Ideal Homes Holdings Limited
Deferred and Ordinary
Ideal Homes Limited
Ordinary*
Ideal Homes Midlands Limited
Ordinary*
Ideal Homes North West Limited
Ordinary*
Ideal Homes Northern Limited
Ordinary*
Ideal Homes Scotland Limited
Ordinary*
Ideal Homes Services Limited
Ordinary*
Ideal Homes Southern Limited
Ordinary*
J.W. Liptrot & Company Limited
Ordinary*
Jaboulet Limited
Ordinary*
John Maunders Group Limited
Ordinary*
Kenton Contracting (Yorkshire) Limited
Ordinary*
Name of undertaking
Description of shares held
Kenton Contractors (Yorkshire) Limited
Ordinary*
Kenton Homes (Builders) Limited
Ordinary*
Kenton Homes (Developments) Limited
Ordinary*
Kenton Homes (Estates) Limited
Ordinary*
Knightsmoor Homes Limited
Ordinary*
Lady\u2019s Lane Property Co. Limited
Ordinary*
Lansdown Homes Limited
Ordinary*
Lazy Acre Investments Limited
Ordinary*
Leech Homes (Showhouses) Limited
Ordinary*, 0.1% Non-Cumulative Preference A* and 1%
Non-Cumulative Preference B*
Leech Homes (Wales) Limited
Ordinary*
Leech Homes (Yorkshire) Limited
Ordinary*
Leech Homes Limited
Deferred* and A Ordinary*
Leech Northumbria Limited
Ordinary*
Leech Partnership Homes Limited
Ordinary*
Leisurama Homes Limited
Ordinary*
Linkway Properties Limited
Ordinary*
Locking Castle Limited
A Ordinary*, B Ordinary* and C Ordinary*
Magnus Design Build Limited
Ordinary*
Magnus Holdings Limited
A Ordinary*, B Ordinary*, C Ordinary*, Enduring
Ordinary* and Cumulative Redeemable Preference*
Mapleleigh Limited
Ordinary*
Marriott Homes Limited
Ordinary*
Maunders Homes (East Anglia) Limited
Ordinary*
Maunders Homes (Midlands) Limited
Ordinary*
Maunders Homes (North West) Limited
Ordinary*
Maunders Homes (South) Limited
Ordinary*
Maunders Inner City Limited
Ordinary*
Maunders Urban Renewal Limited
Ordinary*
Mayclose Research Limited
Ordinary*
Melville Homes Limited
A Ordinary*, B Ordinary*, C Ordinary*, Deferred*
and Cumulative Redeemable Preference*
Name of undertaking
Description of shares held
Merewood (Kendal) Limited
Ordinary*
Merewood Group Limited
Ordinary*
Merewood Homes Limited
Ordinary*
Merewood Investments Limited
Ordinary*
Mightover Limited
Ordinary
Milton Keynes Housing Group Limited
Ordinary*
Mitrebuild Limited
Ordinary* and Deferred Ordinary*
Monk Homes Limited
Ordinary*
Monsell Youell Construction Limited
Ordinary*
Monsell Youell Limited
Deferred* and A Ordinary*
Montague Developments Limited
Ordinary*
Mount Row Finance Limited
Ordinary*
Mount Row Securities Limited
Ordinary*
NGP Management Company Residential (Cell C) Limited
2
Ordinary*
Pacemaker Developments Limited
Ordinary*
Park House Developments (Petersfield) Limited
Ordinary*
Partnership Homes Limited
Ordinary*
Pennant Developments Limited
Ordinary* and 5% Non-Cumulative Preference*
Pentra Limited
Ordinary*
Perlease Limited
Ordinary*
Persimmon (City Developments) Limited
Ordinary*
Persimmon (Eccleshall) Limited
Ordinary*
Persimmon (Share Scheme Trustees) Limited
Ordinary
Persimmon (SHL) Limited
Ordinary*
Persimmon (Strensall) Limited
Ordinary*
Persimmon Brickworks Limited
Ordinary*
Persimmon Developments (No 1) Limited
Ordinary*
Persimmon Developments (No 2) Limited
Ordinary*
Persimmon Developments (Didcot) Limited
Ordinary*
Persimmon Developments (No 5) Limited
Ordinary*
Persimmon Developments (No 6) Limited
Ordinary*
Persimmon Developments (No 7) Limited
Ordinary*
Name of undertaking
Description of shares held
Persimmon DN Limited (incorporated in Ireland) Ordinary*
Persimmon Finance (Jersey) Limited (incorporated in Jersey) Ordinary
Persimmon Finance (No 2) Limited
Ordinary
Persimmon Finance Limited
Ordinary
Persimmon Harts Limited
Ordinary
Persimmon GR (No 4) Limited
Ordinary*
Persimmon GR (No 11) Limited
Ordinary*
Persimmon GR (No 12) Limited
Ordinary*
Persimmon GR (No 13) Limited
Ordinary*
Persimmon GR (No 14) Limited
Ordinary*
Persimmon GR (No 15) Limited
Ordinary*
Persimmon GR (No 16) Limited
Ordinary*
Persimmon GR (No 17) Limited
Ordinary*
Persimmon Holdings Limited
Ordinary and A Ordinary*
Persimmon Homes (Anglia) Limited
Ordinary*
Persimmon Homes (Doncaster) Limited
Ordinary*
Persimmon Homes (East Midlands) Limited
Ordinary*
Persimmon Homes (East Scotland) Limited
Ordinary*
Persimmon Homes (East Yorkshire) Limited
Ordinary*
Persimmon Homes (Edmonstone) Limited
Ordinary
Persimmon Homes (Essex) Limited
Deferred* and A Ordinary*
Persimmon Homes (Lancashire) Limited
Ordinary*
Persimmon Homes (Mercia) Limited
Ordinary*
Persimmon Homes (Midlands) Limited
Ordinary*
Persimmon Homes (North East) Limited
Ordinary*
Persimmon Homes (North Midlands) Limited
Ordinary*
Persimmon Homes (North West) Limited
Ordinary*
Persimmon Homes (Partnerships) Limited
Ordinary
Persimmon Homes (South Coast) Limited
Ordinary*
Persimmon Homes (South East) Limited
Ordinary*
Persimmon Homes (South Midlands) Limited
Deferred* and A Ordinary*
Persimmon Homes (South West) Limited
Ordinary*
3 4
Name of undertaking
Description of shares held
Persimmon Homes (South Yorkshire) Limited
Ordinary*
Persimmon Homes (Teesside) Limited
Ordinary*
Persimmon Homes (Thames Valley) Limited
Ordinary*
Persimmon Homes (Wales) Limited
Ordinary*
Persimmon Homes (Wessex) Limited
Ordinary*
Persimmon Homes (West Midlands) Limited
Deferred* and A Ordinary*
Persimmon Homes (West Scotland) Limited
Ordinary*
Persimmon Homes (West Yorkshire) Limited
Ordinary*
Persimmon Homes (Woodley) Limited
Ordinary
Persimmon Homes (York) Limited
Ordinary
Persimmon Homes (Yorkshire) Limited
Deferred* and Ordinary*
Persimmon Homes Developments Limited
Ordinary
Persimmon Homes Limited
Ordinary*
Persimmon Partnerships (Scotland) Limited
Ordinary*
Persimmon Pension Trustees Limited
Ordinary
Persimmon Residential Limited
Ordinary*
Persimmon SC (No 1) Limited
Ordinary*
Persimmon SC (No 2) Limited
Ordinary*
Persimmon SC (No 3) Limited
Ordinary*
Persimmon SC (No 4) Limited
Ordinary*
Persimmon SC (No 5) Limited
Ordinary*
Persimmon SC (No 6) Limited
Ordinary*
Persimmon Scottish Limited Partnership** n/a
Persimmon Scottish Pension Trustees Limited Ordinary
Persimmon Shared Equity Limited
Ordinary
Persimmon Tileworks Limited
Ordinary*
Persimmon Trustees Limited
Ordinary
Pinnacle Developments (Scotland) Limited Ordinary*
Practical Finance Co. Limited
Ordinary*
Prowting Homes Anglia Limited
B Ordinary*, C Ordinary* and D Ordinary*
Prowting Homes Central Limited
Ordinary*
1 1 1
Name of undertaking
Description of shares held
Prowting Homes Chatsworth Limited
Ordinary*
Prowting Homes Limited
Ordinary*
Prowting Homes Ludlow Limited
Ordinary*
Prowting Homes Midlands Limited
Ordinary*
Prowting Homes South East Limited
Ordinary*
Prowting Homes South West Limited
Ordinary*
Prowting Homes West Limited
Ordinary*
Prowting Homes Wolds Limited
Ordinary*
Prowting Limited
Ordinary*
Prowting Projects Limited
Ordinary*
Prowting Properties Limited
Ordinary*
Repac Homes Limited
Ordinary*
SLB Construction Management Limited
Ordinary*
Second City Homes Limited
Deferred* and A Ordinary*
Senator Homes Limited
Ordinary*
Sequoia Developments Limited
Ordinary*
Severnbrook Homes Limited
Ordinary*
Sherbourne Properties (Warwick) Limited
Ordinary*
Space4 Limited
Ordinary*
Springfir Estates Limited
Ordinary*
Springfir Holdings Limited
Ordinary*
Steelhaven (7) Limited
Ordinary* and 1% Non-Cumulative Redeemable
Participating Preference*
Tamborough Developments Limited
Ordinary*
Tela Properties Limited
Ordinary*
The Charles Church Group Limited
A Ordinary*
The Charles Church Group Share Trustees Limited
Ordinary*
Townedge (Holdings) Limited
Ordinary*
Townedge Estates Limited
Ordinary*
Trent Park Regeneration Limited
A Ordinary* and B Ordinary*
Tryall Developments Limited
Ordinary*
Name of undertaking
Description of shares held
Tudor Jenkins & Company Limited
Ordinary*
Walker Homes (Scotland) Limited Ordinary*
Wardour Limited (Incorporated in Gibraltar) Ordinary*
Wenshaw Limited
Ordinary*
Wescott Holdings Limited
Ordinary*
Wescott Homes Limited
Ordinary*
Wescott Land Limited
Ordinary*
Westbury Direct Limited
Ordinary*
Westbury Homes (Holdings) Limited
Irredeemable Preference*, Ordinary*, Deferred*
and 9.25% Preference*
Westbury Homes (Midlands) Limited
Ordinary*
Westbury Homes (Oval) Limited
Ordinary*
Westbury Homes (Severnside) Limited
Ordinary*
Westbury Homes (Somerset) Limited
Ordinary*
Westbury Homes (South West) Limited
Ordinary*
Westbury Homes (Stadium) Limited
Ordinary*
Westbury Homes (Venymore) Limited
A Ordinary* and B Ordinary*
Westbury Homes (Wales) Limited
Ordinary*
Westbury Homes (West Midlands) Limited
Ordinary*
Westbury Homes Limited
Ordinary*
Westbury Housing Investments Limited
Ordinary*
Westbury Limited
Ordinary
William Leech Builders (North West) Limited
Ordinary*
William Leech Limited
Ordinary* and 6.5% Cumulative Preference*
1 5 Joint arrangements
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Beechpath Limited
Ordinary
50%
50%
Bentwaters Housing Limited
Ordinary
50%
50%
Bentwaters Nominees Limited
Ordinary
50%
50%
Coton Park Consortium Limited
WD
50%
25%
6
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Cramlington Developments Limited
A Ordinary
100%
50%
Genesis Estates (Manchester) Limited
Ordinary
50%
50%
Gosforth Business Park Management Company Limited
A Ordinary
100%
33.3%
Haydon Development Company Limited
Ordinary
20.5%
20.5%
Leebell Developments Limited
A Ordinary
100%
50%
Newcastle Great Park (Estates) Limited
A Ordinary
100%
50%
North Haven Developments (Sunderland) Limited
B Ordinary
100%
50%
North Swindon Development Company Limited
Ordinary
15 %
15 %
Oxfordshire Land Limited
Ordinary
33.3%
33.3%
Quedgeley Urban Village Limited
C Ordinary
100%
25%
Rothley Temple Estates Limited
Ordinary
28.5%
28.5%
Sociedade Torre de Marinha Realizacoes Turisticas SA
(incorporated in Portugal)
Ordinary
50%
50%
Trafalgar Metropolitan Homes Limited
A Ordinary
100%
50%
Triumphdeal Limited
Ordinary
50%
50%
Wick 3 Nominees Limited
B Ordinary
100%
33.3%
7 8 2 8 9 10 11 12 The Group also has an investment in TopHat Enterprises Limited. * Share class held by another Group company, but ultimately held by Persimmon Plc. ** A Scottish Limited Partnership. 1. 180 Findochty Street, Garthamlock, Glasgow, G33 5EP 2. 3rd Floor Citygate, St. James\u2019 Boulevard, Newcastle upon Tyne, Tyne & Wear, NE1 4JE 3. 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland 4. 44 Esplanade, St Helier, JE4 9WG, Jersey 5. 3 Bell Lane, Gibraltar 6. The Office, 12 Westfield Close, Gravesend, Kent, DA12 5EH 7. 6 Europa Court, Sheffield Business Park, Sheffield, S9 1XE 8. 6 Drakes Meadow, Penny Lane, Swindon, Wiltshire, SN3 3LL 9. 250 Aztec West, Almondsbury, Bristol, BS32 4TR 10. 137 Scalby Road, Scarborough, North Yorkshire, YO12 6TB 11. Av. Duque de Loul\u00e9 47-2, 1050-086, Lisbon, Portugal 12. Gate House, Turnpike Road, High Wycombe, Buckinghamshire, HP12 3NR Resident Management Companies The companies listed below are Resident Management Companies (\u2018RMCs\u2019) currently controlled by the Group. Control is exercised by the Group\u2019s power to appoint Directors and the Group\u2019s voting rights in these companies. All RMCs are companies limited by guarantee without share capital (unless otherwise stated) and incorporated in the UK. The capital, reserves and profit or loss for the year have not been stated for these RMCs as beneficial interest in any assets or liabilities of these companies is held by the residents. These companies have not been included in the consolidated accounts, are temporary members of the Group and will be handed over to residents in due course. The Registered Office of each RMC is Persimmon House, Fulford, York, YO19 4FE (unless otherwise stated). Company name Abbey Green (Amesbury) Management Company Limited Abbeyvale Taunton Management Company Limited1 Abbot Walk (Chatteris) Residents Management Company Limited Ackton Pastures (Castleford) Management Company Limited Agusta Park Flats Yeovil Management Company Limited Agusta Park Yeovil Management Company Limited Amberwood (Carlisle) Management Company Limited Amblehurst Green (Billingshurst) Management Company Limited2 Arisdale (Phase 2) Residents Management Company Limited Arnold Way (Grove) Management Company Limited Arnold Way No. 2 (Grove) Management Company Limited Arnold Way No. 3 (Grove) Management Company Limited Ashworth Place (Phase 2) Management Limited Augusta Park (Dinnington) Management Company Limited Avalon (Mansfield) Management Company Limited3 Aveley Village (Thurrock) Management Company Limited Avon Fields (Durrington) Management Company Limited Awel Afan (Port Talbot) Management Company Limited Awel Y Mynydd (Pembrey) Management Company Ltd Aykley Woods (Durham) Management Company Limited Aylesham Village Phase 1B (Aylesham) Residents Management Company Limited Aylesham Village Phase 2 (Aylesham) Residents Management Co Ltd Aylesham Village Phase 2B And 2C (Aylesham) Residents Management Company Limited Backbridge (Malmesbury) Management Company Limited Badbury Park (Swindon) Management Company Limited Badbury Park (Swindon) No 2 Management Company Limited Badbury Park (Swindon) No 3 Management Company Limited Bannerbrook Management Company Limited4 Bannerbrook Park Phase II (Coventry) Management Company Limited Barber Court (Birmingham) Management Company Limited Barrington Park Management Company Limited 5 Barry Waterfront Residents Management Company Limited6 Beauchamp Grange (Caister) Residents Management Company Limited Beckets Grove Management Company Limited Beckets Grove Phase 2 (Wymondham) Residents Management Company Limited Beckford Road (Alderton) Management Company Limited Bedale Meadows Management Company Limited 7 Bell Lane (Little Chalfont) Management Company Limited Bells Hill Management Company Limited 8 Birchwood Manor (Wardley) Residents Management Company Limited Bishops Green (Coundon) Management Company Limited Bishops Mead (Lydney) Management Company Limited Bishops Meade (Downton) Management Company Limited Bluebell Meadow (Bradwell) Management Company Limited Bluebell Wood (Willenhall) Management Company Limited9 Bootham Crescent (York) Residents Management Company Limited Boulton Moor (Derby) Properties Limited Boyton Place (Haverhill) Residents Management Company Limited Brackenleigh (Carlisle) Management Company Limited Bradley Barton View Management Company Limited Bramble Rise (Hetton) Management Company Limited Bramblewood (Old Basing) Residents Management Company Limited6 Branshaw Park (Keighley) Management Company Ltd Bridgefield (Ashford) Management Company Limited Bridgefield Nine Management Company Limited Brindle Park (Bamber Bridge) Management Company Limited8 Broadway (Rainham) Residents Management Company Limited Brockeridge Road (Twyning) Resident Management Company Limited1 Brookfield (Golborne) Management Company Limited5 Broomhill View (Togston) Residents Management Company Limited Buckton Place (Leiston) Residents Management Company Limited Bugbrooke Road (Kislingbury) Management Company Limited11 Burfield Valley Estate Management Limited12 Buttercup Leys (Boulton Moor) Residential Management Company Limited Buzzard Meadows (Leighton Buzzard) Residents Management Company Limited13 Calder Grange (Dewsbury) Management Company Limited Canalside (Burton Upon Trent) Residential Management Company Limited Canonbury Rise (Berkeley) Management Company Limited Carleton Meadows Management Company Limited Carn Y Cefn RMC Ltd14 Carpenters Field (Denmead) Management Company Limited Castellum Grange (Colchester) Residents Management Company Limited Castle Hill (Cottingham) Management Company Limited Castle Park (West Durrington) Management Company Limited Castle View (Netherton) Management Company Limited Castlemead (953) Trowbridge Management Company Limited Castlemead (Persimmon 950) Town Trowbridge Limited Castlemead (Persimmon 964) Town Trowbridge Limited Castleton Court (Haverfordwest) Management Company Limited Cathedral Court (Salisbury) Management Company Limited Cathedral Gate (Salisbury) No.2 Management Company Limited 6 Cathedral View (Durham) Management Company Limited Cayton Meadows (Scarborough) Management Company Limited Century Rise (Emersons Green) Management Company Limited Chancery Park (Exning) Residents Management Company Limited Charlton Place (Keynsham) Management Company Limited Chaucers Meadow (North Petherton) Management Company Limited Chilmark Glade Management Company Limited Chorley G 1 Management Company Limited 8 Church Lane (Deal) Residents Management Company Limited Clarence Place (Bracknell) Residents Management Company Limited Cloatley Cresent Management Company Limited Clock Tower (Wolverhampton) Management Company Limited 8 Clos Ty Gwyn (Hendy) Management Company Limited Clover Chase (Lingwood) Residents Management Company Limited Coastal Dunes (Lytham St Annes) Management Company Limited Coatham Vale and Berrymead Gardens Residents Management Company Limited 7 Coed Darcy (Llandarcy) Management Company Limited College Park (Thurston) Residents Management Company Limited Colliers Walk (Nottingham) Management Company Limited 8 Colonial Wharf (Chatham) Residents Management Company Limited Coopers Grange (Bishops Stortford) Resident Management Company Ltd 8 Copperfield Place (Chelmsford) Residents Management Company Limited Copperfield Truro Management Company Limited Coquet Grange (Amble) Management Company Limited Corelli Sherborne Management Company Limited Cote Farm (Thackley) Management Company Limited Coton Park (Rugby) Management Company Limited Cotswold Vale (Long Marston) Management Company Limited 1 Coverdale Paignton Management Company Limited 1 Crofton Walk (Fair Oak) Management Company Limited Cromwell Gardens (Huntingdon) Residents Management Company Limited Cromwell Place (Little Dunmow) Residents Management Company Limited Crosland Road (Lindley) Management Limited 15 Cross Quays (Westwood) Management Company Limited Cross Quays Phase 2 (Thanet) Residents Management Company Limited Cumnor Hill Management Company Limited Cwrt Y Llwyfen (Johnstown) Management Company Limited Cygnet Grange (Swanmore) Residents Management Company Limited Daisy Hill (Morley) Management Company Limited Daisy\u2019s View (Burbage) Management Company Limited Dan Y Bryn Management Company Limited Dartford Bow Arrow (Management Company) Limited 16 De Vere Grove (Colchester) Residents Management Company Limited Deerwood Park (Colne) Management Company Limited Dol Yr Ysgol (Bridgend) Management Company Limited Douglas Gardens (Hesketh) Management Company Ltd 8 Downs View (Swanley) Residents Management Company Limited Dukes Meadow (Tangmere) Management Company Limited D\u2019urton Heights (Preston) Management Company Limited Earlesmead (Framingham Earl) Residents Management Company Limited East Benton Rise (Benton) Management Company Limited Eclipse House (Andover) Management Company Limited Edinburgh Park (Liverpool) Management Company Limited 8 Eldon Whins (Middridge) Management Company Limited 7 Elkas Rise (Ilkeston) Management Company Limited Ellesmere Park (The Oaks) Management Company Limited 5 Ellis Mews (Micheldever) Management Company Limited 12 Elm Farm (Wymondham) Residents Management Company Limited Elm Rise (Birtley) Residents Management Company Limited Emily Fields (Swansea) Management Company Limited Eton Place (Bracknell) Management Company Limited Eve Parc (Falmouth) Management Company Limited Fair Mile Rise (Blandford St Mary) Management Company Limited Fairfax Mews Crediton Management Company Limited 1 Fairmoor (Morpeth) Management Company Limited Fairways (Retford) Management Company Limited Fallow (Benton) Residents Management Company Limited Farley Fields South Petherton Management Company Limited 1 Fatherford View (Okehampton) Management Company Limited Festival Park (Easton) Residents Management Company Limited Fiddington Fields (Tewkesbury) Management Company Limited Field Place (Faversham) Management Company Limited 16 Fishpool Hill Bristol Management Company Limited Fleckney Road Management Company Limited Flint Grange (Clacton) Residents Management Company Limited Foley Gardens (Newent) Residential Management Company Limited1 Folly Grove (Hockley) Residents Management Company Limited Forest View (Calverton) Management Company Limited Forge Wood (Crawley) Management Company Limited17 Foundry Meadows (Bexhill) Residents Management Company Limited Foxes Chase (Anlaby) Residents Management Company Limited Foxfields (Stoke-On-Trent) Management Company Limited6 Foxley Park (Dereham) Residents Management Company Limited Garden Valley (Aylesham) Residents Management Company Limited12 Garendon Park Residents Management Company Ltd George Ward Gardens (Melksham) Management Company Limited Germany Beck (Fulford) Management Company Limited Gilden Park (Old Harlow) Resident Management Company Limited 8 Gipping Mill (Great Blakenham) Residents Management Company Limited Glan Yr Afon (Swansea) Management Company Limited Golwg Y Glyn (Fforest) Management Company Limited 6 Golwg Y Mynydd (Mountain Ash) RMC Ltd14 Gotherington Grange Resident Management Company Limited Grange Paddocks (Stanway) Residents Management Company Limited Grangewood Park (Burnham On Crouch) Residents Management Company Limited Grays Court (Orpington) Residents Management Company Limited12 Great Western Park (Didcot) No 1 Management Company Limited Great Western Park (Didcot) No 2 Management Company Limited Great Western Park (Didcot) No 3 Management Company Limited Great Woodcote Park Exeter Management Company Limited Greenacres (Easington) Management Company Limited Greenfields (Narberth) Management Company Limited Greetwell Fields (Lincoln) Residents Management Company Limited Griffin Wharf (Ipswich) Residents Management Company Limited Grove Street (Raunds) Residents Management Company Limited Hailes Wood (Elsenham) Residents Management Company Limited Hamilton Gate (Frinton) Residents Management Company Limited Hampton Gardens Phase 3 (Peterborough) Residents Management Company Ltd Hampton Park (Littlehampton) Residents Management Company Limited Hansons Reach (Stewartby) Residents Management Company Limited Hanwell Chase (Banbury) Residents Management Company Limited Harbourside View (Portchester) Management Company Limited Harbury Lane (Warwick) Management Company Limited Hardings Wood (Kidsgrove) Residents Management Company Limited5 Harebell Meadows And Hartburn Grange Residents Management Company Limited5 Harford Mews Ivybridge Management Company Limited1 Harlands Park (Uckfield) Residents Management Company Limited Harlow Fields (Mackworth) Residential Management Company Limited Harlow Hill Grange (Harrogate) Management Company Limited Harpur Hill (Buxton) Residents Management Company Limited5 Harrow View West (Harrow) Residents Management Company Limited Hartley Grange (Whittlesey) Residents Management Company Limited Hartnells Farm Management Company Limited Hastings Place (Bentley) Management Company Limited Hatchwood Mill (Winnersh) Management Company Limited Hatfield Lane Armthorpe Management Company Limited7 Hathern Road (Shepshed) Management Company Limited1 Hauxley Grange (Amble) Residents Management Company Limited Hawthorn Chase (Aston Clinton) Residents Management Company Limited Hawthorne Farm (Clitheroe) Management Company Limited5 Haywards Gardens (Kegworth) Man Co. Limited18 Haywood Heights (Writhlington) Management Company Limited Hazelmere (Flockton) Management Company Limited Heathfield Gardens (Phase 7) Management Company Limited Heathpark Wood (Windlesham) Management Company Limited Hellingly 415 Residents Management Company Limited Hellingly 416 Management Company Limited Hellingly 418 Management Company Limited Hepburn Chase Management Company Limited1 Heritage Gate (Llantwit Major) Residents Management Company Limited Heritage Green (Newbottle) Management Company Limited19 Heritage Park (Shinfield) Residents Management Company Limited Heritage Park (Sutton Courtenay) Residents Management Company Limited Herne Vale Ilminster Management Company Limited Herons Park (Angmering) Management Co Ltd Herrington Grange (Philadelphia) Management Company Limited Hethersett Residents Management Company Limited8 Heugh Hall (Coxhoe) Residents Management Company Limited Higham Lane Management Company Limited Highfield Farm (West Melton) Residents Management Company Limited Highland Park Estate Management Company Limited* 20 Hill Barton Vale Exeter Management Company Limited Hill Barton Vale Flats Exeter Management Company Limited Hillfield Meadows (Sunderland) Management Company Limited Hillies View (Wombwell) Management Company Limited Holdingham Grange (Sleaford) Residents Management Company Limited Holly Fields (Birmingham) Management Company Limited Homington Avenue (Swindon) Local Centre Management Company Limited Honours Meadow (Rendlesham) Residents Management Company Limited Horsbere Mews (Longford) Management Company Limited 21 Horseshoe Meadows (Westbury) Management Company Limited HRC (Ware) Residents Management Company Limited Hunters Edge (Eaglescliffe) Residents Management Company Limited Hurdle Court (Andover) Management Company Limited Hydro (St Neots) Number One Management Company Limited Ingleby (Barwick) Management Company Limited Iwade Meadows (Iwade) Management Company Limited Iwade Meadows (Yalding Apartments Plots 74-79) Management Company Limited Jasmine Gardens Management Company Limited Jubilee Gardens (Warminster) Management Company Ltd Jubilee Rise (Shepshed) Management Company Limited Kenilworth Gate Management Company Limited Kennedy Place (Ulverston) Management Company Limited Kings Grove Cranbrook Management Company Limited Kingsbridge Court (Gorseinon) Management Company Limited Kingsbury Gardens (St Albans) Residents Management Company Limited Kingsbury Meadows (Wakefield) Management Company Limited Kingsmead (Gloucester) Management Company Limited Knights Court (Old Sarum) Management Company Limited Knightswood Place (Rainham) Residents Management Company Limited Ladgate Woods (Middlesbrough) Management Company Limited Lakedale Whiteley Meadows (North Whiteley) Management Company Limited Lakeside Edge (Peterborough) Residents Management Company Limited Lambourn Meadow (Thatcham) Management Company Limited 22 Laneside (Morley) Residents Management Company Limited Larkbear Management Company Limited 6 Lauder Mews Crediton Management Company Limited Launds Field (Galgate) Management Company Limited Laureate Heights Sidmouth Management Company Limited Lavender Fields (South Wootton) Residents Management Company Ltd Lime Tree Court Derby Management Company Limited Limes Place (Upper Harbledown) Residents Management Company Limited Lindale Park (Alverthorpe) Management Company Limited Lindley Moor Meadows (Huddersfield) Management Company Limited Lingfield Meadows (Houghton) Management Company Limited Llanilid Management Company Limited Llanilltern Apartments RMC Ltd 14 Llanilltern Village RMC Ltd 14 Llys Ystrad (Bridgend) Management Company Limited 23 Lodmoor Sands (Weymouth) Management Company Limited 6 Longbridge Place (Longbridge) Management Company Limited Longleaze Management Company Limited Low Moor Meadows (Morley) Management Company Limited Low Street (Sherburn In Elmet) Management Company Limited 19 Lowen Bre Truro Management Company Limited Lucknam Crescent (Swindon) Management Company Limited Lythalls Lane (Coventry) Management Company Limited 21 Maes Dyfed Management Company Limited Maes Y Parc (Cross Hands) Management Company Limited Maes Y Rhos (Ystradgynlais) Management Company Limited Maiden Vale (Ryhope) Management Company Limited Malvern Rise (Malvern) Management Company Limited Malvern Vale (Malvern) Management Company Limited 21 Manor Farm (Doncaster) Management Company Limited Manor Farm (Micklefield) Management Company Limited Manor Gardens (Selsey) Management Company Limited Manor Park Sprowston Residents Management Company Limited 8 Manor Place (Maidenhead) Residents Management Company Limited Manor Vale Residents Management Company Limited 11 Maple (129) Limited 22 Maple Oak (Alton) Management Company Limited 6 Mariners Walk (Swansea) Apartment Management Company Limited* Mariners Walk (Swansea) Management Company Limited* Marshfoot Lane (Hailsham) Residents Management Company Limited Martello Park (Pembroke) Management Company Limited Martineau Gardens Harborne Management Company Limited 9 Mascalls Grange (Paddock Wood) Residents Management Company Limited Meadow View (Oundle) Management Company Limited Meadow View (Redditch) Resident Management Company Limited 21 Meon Way Gardens Management Company Limited 21 Merchants Walk Cullompton No 2 Management Company Limited Mercians Place Management Company Limited 21 Meridian Place (Hertford) Residents Management Company Ltd Merlins Lane (Scarrowscant) Management Company Limited Mersey View (Bromborough Pool) Management Company Limited 24 Mill Gardens (Cullompton) Management Company Limited Mill Valley (Pevensey) Residents Management Company Limited Mill View (Willingdon) Management Company Limited Millbeck Grange (Bowburn) Management Company Limited Millennium Farm (New Waltham) Management Company Limited Monkswood (Sacriston) Management Company Limited Montague Park Residents Management Company Limited 25 Montfort Place (Odiham) Management Company Limited8 Moorfield (Easington) Management Company Limited Moorfield Park Management Company Limited8 Moorlands Walk (Sherburn) Management Company Limited Mulberry Grange (Castleford) Management Company Limited Mulberry Grove (St Fagans Cardiff) Management Company Limited Nelson\u2019s Park (North Walsham) Residents Management Company Limited NGP Management Company (Cell E) Limited*10 NGP Management Company (Cell F) Limited*10 NGP Management Company (Commercial) Limited*10 NGP Management Company (Town Centre) Limited*10 NGP Management Company Residential (Cell G) Limited*10 Oak Heights (Northiam) Residents Management Company Limited12 Oak Tree Gardens (Audley) Management Company Limited15 Oakcroft Chase (Stubbington) Management Company Limited Oakhurst Village (Shirley) Management Company Limited Oakland Gardens (Wilthorpe) Management Company Limited Oakwood Meadows (Colchester) Residents Management Company Limited Oakwood Meadows Phase 4 (Stanway) Residents Management Company Limited Oakwood Park (Wymondham) Residents Management Company Limited Oakwood View (Brackla) Management Company Limited Oakwood View (Weston-Super-Mare) Management Company Limited Oast Court Farm Management Company Limited26 Old Road (Churwell) Management Company Limited Open Space Management Limited15 Orchard Croft (Diss) Residents Management Company Limited Orchard Grove (Coxheath) Residents Management Company Ltd Orchard Manor (Cheddington) Residents Management Company Limited Orchard Meadows (Iwade) Residents Management Company Limited Orchard Mews Pershore Management Company Limited21 Otterham Park (Rainham) Residents Management Company Limited Oxley Springs (Milton Keynes) Management Company Limited Oxley Springs 8B (Milton Keynes) Management Company Limited Paddocks 21 (Andover) Management Company Limited Palmerston Heights Plymouth Management Company Limited Paragon Park (Coventry) Management Company Limited Parc Brynderi (Llanelli) Management Company Limited Parc Yr Onnen (The Limes) Management Company Limited Park Farm (South East) Management Company Limited 27 Parklands (Hessle) Residents Management Company Limited Parklands (Maidstone) Management Company Limited27 Parrett Gardens (Langport) Management Company Limited Pavilion Gardens (Monkton Heathfield) Management Company Limited Pedlars Meadow (Swaffham) Residents Management Company Limited Pembridge Court (Clehonger) Residents Management Company Limited21 Penny Pot Lane (Harrogate) Management Company Limited7 Perry Park View (Perry Barr) Management Company Limited 21 Persimmon Gardens (Hindley) Management Company Limited5 Persimmon Gardens (Martham) Residents Management Company Limited Persimmon Grange Framlingham Residents Management Company Limited Persimmon Homes The Oaks (Selly Oak) Management Company Limited 21 Phoenix Park (Dunstable) Residents Management Company Limited Phoenix Wharf (West Bromwich) Management Company Limited21 Picket 20 Management Company Limited Picket Twenty Two (Andover) Management Company Limited Porth Y Dyffryn (Merthyr Tydfil) Residents Management Company Limited Portland Park (Ashington) Management Company Limited Pottery Gardens (Cheadle) Residents Management Company Limited5 Priory Meadows (Bodmin) Management Company Limited Quantock View Management Company Limited Quinta Mews Management Company Limited28 Rackheath Residents Management Company Limited Radstone Road (Brackley) Management Company Limited Rainton Gardens (Chilton Moor) Management Company Limited Rainton Meadows (Chilton Moor) Management Company Limited19 Ramsdell (Ashford Hill) Management Company Limited Rectory Lane (Standish) Management Company Limited Redhayes Management Company Limited29 Redland Grange (Cottenham) Residents Management Company Limited Regent Park (Calne) Management Company Limited Regents Place (Chellaston) Management Company Limited21 Repton Park 18 (Ashford) Residents Management Company Limited Repton Park 19-23 (Ashford) Residents Management Company Limited Repton Park 8 & 10 (Ashford) Residents Management Company Ltd Rivendell (Gedling) Management Company Limited Riverbourne Fields Management Company Limited Rose Manor (Hadleigh) Residents Management Company Limited Roseberry Park (Pelton) Management Company Limited Salterns (Terrington) Residents Management Company Limited Saltram Meadow Plymouth Management Company Limited Samford Gardens (Capel St Mary) Residents Management Company Limited Sandfield Walk (Nottingham) Management Company Limited Sandgate Drive (Kippax) Management Company Limited Sandpipers (Minster) Residents Management Company Limited Saxon Fields (Bridgwater) Management Company Limited Saxon Grange (Shaftesbury) Management Company Limited Saxon Grove (Purton) Management Company Limited Saxon Meadow (Sutton On Trent) Residents Management Company Limited Saxons Chase (Headcorn) Residents Management Company Limited Scarlett Mews (Tiptree) Residents Management Company Limited Scholar\u2019s Green (Northampton) Residents Management Company Limited11 Seaside Lane (Easington) Management Company Limited Seaton Vale (Ashington) Residents Management Company Limited Sharpes Meadow (Heybridge) Residents Management Company Limited Sherborne Fields (Basingstoke) Management Limited Sherborne Fields Apartments Ph6 (Basingstoke) Management Company Limited Shilton Place (Coventry) Management Company Ltd30 Shirewood (Beighton Road) Management Company Limited Silver Hill (Preston) Management Company Limited Silverwood (Garforth) Management Company Limited Solway View (Workington) Management Company Limited Sonnet Park (Stratford) Management Company Limited1 Sovereign Quarter (Gillingham) Management Company Limited Speckled Wood (Carlisle) Management Company Limited Spring Meadows (Darwen) Management Company Limited 8 St Andrews (Uxbridge) Management Company Limited21 St Andrews Park (Phase 3C Uxbridge) Management Company Limited 31 St Andrews Park (Vine Lane 1A) Management Company Limited21 St Andrews Park (Vine Lane 2A) Management Company Limited 21 St Andrews Park 2B/3A (Churchill Road, Uxbridge) Management Company Limited21 St Andrews Park 3B (Uxbridge) Management Company Limited21 St Andrews Ridge (Swindon) Management Company Limited St Dunstans Place (Burbage) Management Company Limited St Edeyrns Apartments (Cardiff) RMC Limited St Edeyrns Village (Cardiff) Residents Management Company Limited St Edmunds (Frome) Management Company Limited St George (Lancaster) Management Company Limited St Georges Keep Management Company Limited St James Park (Bramley) Residents Management Company Limited St Johns (Lichfield) Management Company Limited St Michaels Place (Colchester) Residents Management Company Limited St Michaels Way (South Ryhope) Residents Management Company Limited St Peters Place (Salisbury) Management Company Limited Stanbridge Meadows (Petersfield) Management Company Limited Stanford Meadows (Stanford-Le-Hope) Residents Management Company Limited Stanton Chase (Swindon) Management Company Limited Staynor Hall 4 (Selby) Residents Management Company Limited Staynor Hall K (Selby) Management Company Limited Stephenson Park (Wallsend) Residents Management Company Limited Stortford Fields (Bishops Stortford) (Persimmon) Resident Management Company Limited Strawberry Fields Penryn Management Company Limited Stream View Management Limited 28 Swan Park (Dawlish) Management Company Limited Sycamore Gardens (Oakdale) RMC Ltd14 Sycamore Rise (Thame) Residents Management Company Limited Tanners Meadow (Strood Green) Management Company Ltd 2 Tarraby View (Carlisle) Management Company Limited Teasdale Place (Carlisle) Management Company Limited The Acorns (Shirley) Management Company Limited21 The Alders (Gilwern) Residents Management Company Limited The Blossoms (Blackburn) Management Company Limited8 The Boulevards (East Tilbury) Residents Management Company Limited The Boulevards (Newport) Residents Management Company Limited The Bridge (Dartford) 29 And 31A Residents Management Company Limited The Bridles (Ffos Las) Management Company Limited14 The Carriages (Burscough) Management Company Limited The Cottons (Holmes Chapel) Management Company Limited The Croft (Burgess Hill) Residents Management Company Limited The Edge (Hempstead) Management Limited The Fell (Lyde Green) Management Company Limited 6 The Gateway (Colchester) Residents Management Company Limited The Goldings Newquay Management Company Limited The Grange (Chalfont St Peter) Management Company Ltd The Grange (Chepstow) Limited The Grange (Wellesbourne) Management Company Limited21 The Hamptons (Newcastle) Resident Management Company Limited5 The Haven (Swansea) Management Company Limited The Hawthorns (Market Harborough) Management Company Limited The Heath (Sandbach) Management Company Ltd8 The Hedgerows (Alsager) Management Company Ltd5 The Heights (Newark) Residents Management Company Limited The Lancasters (Cambridge) Residents Management Company Limited The Landings (Waddington) Residents Management Company Limited The Links (Machynys East) Management Company Limited6 The Maples (Cressing) Residents Management Company Limited The Maples (NGP) Management Company Limited The Maples (Weston) Residents Management Company Limited The Middles (Stanley) Management Company Limited The Mile (Pocklington) Management Company Limited The Nightingales (Helpston) Residents Management Company Limited 32 The Oaklands (NGP) Residents Management Company Limited The Orchard (Fenstanton) Residents Management Company Limited 33 The Paddocks (Aintree) Management Company Limited 5 The Paddocks (Farcet) Residents Management Company Limited The Paddocks (Highworth) Management Company Limited 5 The Pastures (Lowton) Management Company Limited 5 The Pinnacles Management Company (Thamesmead) Limited The Poppies (Harleston) Management Company Limited The Poppies Management Company Limited The Priory (Llandough) Residents Management Company Limited 34 The Reeds Lower Halstow Management Ltd 28 The Rosary (Emersons Green) Management Company Limited The Rydons Exeter Number Two Management Company Limited The Sands (Durham) Management Company Limited The Shires (Oswaldtwistle) Management Company Ltd 8 The View (Redditch) Management Company Limited 21 The Village, Aveley Phase II Residents Management Company Limited The Weald (Easingwold) Management Company Limited The Wickets (Penenden Heath) Residents Management Company Limited The Willows (Downham Market) Residents Management Company Limited The Willows Earlestown (Newton Le Willows) Management Company Limited 24 The Windmills (Kirton) Residents Management Company Limited Thornley Woods (Gateshead) Management Company Limited Tilbury Fields (Oxford) Management Company Limited 8 Tir Y Bont (Bridgend) Management Company Limited Towcester Grange (Towcester) Residents Management Company Limited 18 Trelawny Place (Felixstowe) Residents Management Company Limited Trevelyan Grange (Morpeth) Residents Management Company Limited Trevethan Meadows Liskeard Management Company Limited Trinity Pastures (Calvert Lane Hull) Residents Management Company Limited Tundra Point (Emersons Green) Management Company Limited Valley Heights (Frome) Management Company Limited 1 Village Mews (Southowram) Management Company Limited Walmsley Park (Leigh) Management Company Ltd 5 Watercress Way Management Company Limited 28 Waterfield Place (Market Harborough) Residential Management Company Limited Waters Edge (Buckshaw) Management Company Limited 24 Waterside At The Bridge Management Company Limited Watling Place (Newington) Residents Management Company Ltd Weavers Meadow Estates Management Company Limited Weavers Meadow Phase 2 (Hadleigh) Residents Management Company Limited Weavers Place (Skelmanthorpe) Management Company Limited Weavers View (Pleasley Hill) Residents Management Company Limited Weavers Wharf Apartments (Coventry) Management Company Limited Wellington Gate (Grove) Management Company Limited Wellington Gate (Maresfield) Management Company Limited Wellswood Park (Reading) Residents Management Company Limited Wentworth Green Management Company Limited Westhaven Apartments (Barry) Residents Management Company Limited Westhoughton (Lee Hall) Residents Management Company Limited 5 Weston Park Limited Westvale Park (Horley) Management Company Limited 2 Westwood Park (Churwell) Management Company Limited White Rose Park (Norwich) Residents Management Company Ltd Whiteford Mews Management Company Limited Whitewood Park (Bristol) Management Company Limited Whittington Walk (Worcester) Management Company Limited 21 Whitworth Dale Management Company Limited Willow Court (Abergavenny) RMC Limited Willow Park (Aylsham) Management Company Limited Windmill View (Stanground) Residents Management Company Limited Windrush Place Witney Management Company Limited Wombwell (Barnsley) Management Company Limited Woodhorn Meadows (Ashington) Residents Management Company Limited Woodland Gardens (Pyle) Management Company Limited Woodland Rise (Great Cornard) Residents Management Company Limited Worcester Gate (Worcester) Management Company Limited 21 Wykham Park (Banbury) Management Company Ltd 5 Yew Tree Farm (Droitwich) Management Company Limited 21 Yew Tree Gardens (Tuffley) Management Company Limited 1. Queensway House, 11 Queensway, New Milton, BH25 5NR 2. Homer House, 8 Homer Road, Solihull, B91 3QQ 3. Fountain House, Southwell Road West, Mansfield, NG18 4LE 4. Persimmon House, Birmingham Road, Studley, B80 7BG 5. Unit 7 Portal Business Park, Eaton Lane, Tarporley, CW6 9DL 6. Fisher House, 84 Fisherton Street, Salisbury, SP2 7QY 7. Cheviot House, Beaminster Way East, Newcastle Upon Tyne, NE3 2ER 8. RMG House, Essex Road, Hoddesdon, EN11 0DR 9. 11 Little Park Farm Road, Fareham, PO15 5SN 10. 3rd Floor City Gate, St. James\u2019 Boulevard, Newcastle Upon Tyne, Tyne and Wear, NE1 4JE 11. Unit A5 Optimum Business Park, Optimum Road, Swadlincote, DE11 0WT 12. 94 Park Lane, Croydon, CR0 1JB 13. Persimmon Homes, 3 Waterside Way, Northampton, NN4 7XD 14. 46 Whitchurch Road, Cardiff, CF14 3LX 15. North Point, Stafford Drive, Battlefield Enterprise Park, Shrewsbury, SY1 3BF 16. Burlington House, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF 17. Unit 8, The Forum Minerva Business Park, Peterborough, PE2 6FT 18. 2 Hills Road, Cambridge, CB2 1JP 19. 4335 Park Approach, Thorpe Park, Leeds, LS15 8GB 20. Suite 7 Aspect House, Pattenden Lane, Marden, TN12 9QJ 21. 11 Queensway House, Queensway, New Milton, BH25 5NR 22. 250 Aztec West, Almondsbury, Bristol, BS32 4TR 23. Vantage Point, 23 Mark Road, Hemel Hempstead, HP2 7DN 24. Gateway House, 10 Coopers Way, Southend-On-Sea, SS2 5TE 25. 20 King Street, London, EC2V 8EG 26. Acorn Estate Management, 9 St Marks Road, Bromley, BR2 9HG 27. Foundation House, Coach & Horses Passage, Tunbridge Wells, TN2 5NP 28. Scholars House, 60 College Road, Maidstone, ME15 6SJ 29. Woodwater House, Pynes Hill, Exeter, EX2 5WR 30. 1st Floor Lancaster House, 67 Newhall Street, Birmingham, B3 1NQ 31. 72 Victoria Road, Ruislip, HA4 0AH 32. Unit 9, Astra Centre, Edinburgh Way, Harlow, CM20 2BN 33. 17 Apple Tree Close, Fenstanton, Huntingdon, PE28 9FJ 34. Avon House, Stanwell Road, Penarth, Wales, CF64 2EZ * Private limited company ", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-346": { "value": "
17 Shared equity loan receivables
2023 2022
Group \u00a3m \u00a3m
At 1 January
36.0
45.6
Settlements
(5.7)
(13.3)
Gains
1.8
3.7
At 31 December
32.1
36.0
All gains/losses have been recognised in the consolidated statement of comprehensive income. Of the gains
recognised in finance income for the period \u00a30.2m (2022: \u00a30.3m) was unrealised.
Shared equity loan receivables comprise loans, largely with a ten-year term and variable repayment amounts,
provided as part of sales transactions that are secured by way of a second legal charge on the related property.
Loans are repayable at the borrower\u2019s option, on sale or transfer of the related property or other redemption of the
first legal charge or at the end of the fixed term. The loans are recorded at fair value, being the estimated future amount
receivable by the Group, discounted to present day values.
The fair value of future anticipated cash receipts takes into account the Directors\u2019 view of future house price movements,
the expected timing of receipts and the likelihood that a purchaser defaults on a repayment.
The Directors revisit the future anticipated cash receipts from the loans at the end of each financial reporting period.
The difference between the anticipated future receipt and the initial fair value is credited over the estimated deferred
term to finance income, with the loan increasing to its full expected cash settlement value on the anticipated receipt
date. Credit risk, which the Directors currently consider to be largely mitigated through holding a second legal charge
over the assets, is accounted for in determining fair values and appropriate discount factors are applied. The Directors
expect an average maturity profile of between five and ten years from the balance sheet date.
Further disclosures relating to loans are set out in note 23.
", "dimensions": { "concept": "persimmonplc:DisclosureOfSharedEquityLoanReceivables", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-347": { "value": "
18 Inventories
2023 2022
Group \u00a3m \u00a3m
Land
2,103.5
2,091.7
Work in progress
1,431.3
1,263.9
Part exchange properties
114.6
61. 0
Showhouses
51.8
46.3
3,701.2
3,462.9
The Directors consider all inventories to be essentially current in nature although the Group\u2019s operational cycle is such
that a proportion of inventories will not be realised within 12 months. It is not possible to determine with accuracy when
specific inventory will be realised as this is subject to a number of issues, including consumer demand and planning
permission delays.
The Group conducted a further review of the net realisable value of its land and work in progress portfolio at
31 December 2023. Our approach to this review has been consistent with that conducted at 31 December 2022.
This review gave rise to a reversal of \u00a3nil (2022: \u00a3nil) of provision on inventories that were written down in a previous
accounting period and an impairment of land and work in progress of \u00a313.7m (2022: \u00a3nil). Net realisable provisions
held against inventories at 31 December 2023 were \u00a318.9m (2022: \u00a35.5m).
The key judgements in estimating the future net realisable value of a site were the estimation of likely sales prices, house
types and costs to complete the developments. Sales prices and costs to complete were estimated on a site by site basis
based upon existing market conditions. If the UK housing market were to improve or deteriorate in the future then
further adjustments to the carrying value of land and work in progress may be required. Following the 2023 review,
\u00a327.4m (2022: \u00a32.9m) of inventories are valued at net realisable value rather than at historical cost. No reasonable
change in assumptions would lead to further impairment at the balance sheet date.
Land with a carrying value of \u00a3796.4m (2022: \u00a3860.8m) was used as security for land payables (note 21).
The value of inventories expensed in 2023 and included in cost of sales was \u00a31,845.8m (2022: \u00a32,556.7m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-348": { "value": "
19 Trade and other receivables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current assets
Other receivables
6.9
0.3
\u2014
\u2014
Amounts owed by Group undertakings
\u2014
\u2014
2,040.4
2,015.4
6.9
0.3
2,040.4
2,015.4
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current assets
Trade receivables
143.2
153.7
0.5
1.3
Other receivables
10.9
17. 9
10.0
8.2
Prepayments and accrued income
27.9
21. 6
6.8
3.8
182.0
193.2
17.3
13.3
Trade and other receivables are non-interest bearing, and the Group applies a simplified approach in calculating
expected credit losses. The Group does not track changes in credit risk, but instead recognises a loss allowance based
on lifetime expected credit losses at each reporting date. The Directors consider that the carrying value of trade
receivables approximates to their fair value.
No allowance for expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.
2023 2022
\u00a3m \u00a3m
Ageing of overdue but not impaired receivables
Less than 3 months
16.9
29.8
Over 3 months
7.5
7.4
24.4
37.2
The carrying value of trade and other receivables is stated after the following allowance for expected credit losses:
2023 2022
\u00a3m \u00a3m
Group
At 1 January
2.0
2.0
Allowance for expected credit losses charged
0.4
0.2
Amounts written off during the year as uncollectable
(0.2)
(0.2)
Allowance for expected credit losses reversed
\u2014
\u2014
At 31 December
2.2
2.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-407": { "value": "19 Trade and other receivables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current assets
Other receivables
6.9
0.3
\u2014
\u2014
Amounts owed by Group undertakings
\u2014
\u2014
2,040.4
2,015.4
6.9
0.3
2,040.4
2,015.4
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current assets
Trade receivables
143.2
153.7
0.5
1.3
Other receivables
10.9
17. 9
10.0
8.2
Prepayments and accrued income
27.9
21. 6
6.8
3.8
182.0
193.2
17.3
13.3
Trade and other receivables are non-interest bearing, and the Group applies a simplified approach in calculating expected credit losses. The Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. The Directors consider that the carrying value of trade receivables approximates to their fair value. No allowance for expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.
2023 2022
\u00a3m \u00a3m
Ageing of overdue but not impaired receivables
Less than 3 months
16.9
29.8
Over 3 months
7.5
7.4
24.4
37.2
The carrying value of trade and other receivables is stated after the following allowance for expected credit losses:
2023 2022
\u00a3m \u00a3m
Group
At 1 January
2.0
2.0
Allowance for expected credit losses charged
0.4
0.2
Amounts written off during the year as uncollectable
(0.2)
(0.2)
Allowance for expected credit losses reversed
\u2014
\u2014
At 31 December
2.2
2.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-396": { "value": "19 Trade and other receivables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current assets
Other receivables
6.9
0.3
\u2014
\u2014
Amounts owed by Group undertakings
\u2014
\u2014
2,040.4
2,015.4
6.9
0.3
2,040.4
2,015.4
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current assets
Trade receivables
143.2
153.7
0.5
1.3
Other receivables
10.9
17. 9
10.0
8.2
Prepayments and accrued income
27.9
21. 6
6.8
3.8
182.0
193.2
17.3
13.3
Trade and other receivables are non-interest bearing, and the Group applies a simplified approach in calculating expected credit losses. The Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. The Directors consider that the carrying value of trade receivables approximates to their fair value. No allowance for expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.
2023 2022
\u00a3m \u00a3m
Ageing of overdue but not impaired receivables
Less than 3 months
16.9
29.8
Over 3 months
7.5
7.4
24.4
37.2
The carrying value of trade and other receivables is stated after the following allowance for expected credit losses:
2023 2022
\u00a3m \u00a3m
Group
At 1 January
2.0
2.0
Allowance for expected credit losses charged
0.4
0.2
Amounts written off during the year as uncollectable
(0.2)
(0.2)
Allowance for expected credit losses reversed
\u2014
\u2014
At 31 December
2.2
2.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-381": { "value": "19 Trade and other receivables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current assets
Other receivables
6.9
0.3
\u2014
\u2014
Amounts owed by Group undertakings
\u2014
\u2014
2,040.4
2,015.4
6.9
0.3
2,040.4
2,015.4
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current assets
Trade receivables
143.2
153.7
0.5
1.3
Other receivables
10.9
17. 9
10.0
8.2
Prepayments and accrued income
27.9
21. 6
6.8
3.8
182.0
193.2
17.3
13.3
Trade and other receivables are non-interest bearing, and the Group applies a simplified approach in calculating expected credit losses. The Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime expected credit losses at each reporting date. The Directors consider that the carrying value of trade receivables approximates to their fair value. No allowance for expected credit losses is deemed necessary in respect of amounts owed by Group undertakings.
2023 2022
\u00a3m \u00a3m
Ageing of overdue but not impaired receivables
Less than 3 months
16.9
29.8
Over 3 months
7.5
7.4
24.4
37.2
The carrying value of trade and other receivables is stated after the following allowance for expected credit losses:
2023 2022
\u00a3m \u00a3m
Group
At 1 January
2.0
2.0
Allowance for expected credit losses charged
0.4
0.2
Amounts written off during the year as uncollectable
(0.2)
(0.2)
Allowance for expected credit losses reversed
\u2014
\u2014
At 31 December
2.2
2.0
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-349": { "value": "
20 Borrowings
Detailed disclosure of the Group\u2019s usage of financial instruments is included in note 23. There are \u00a3nil borrowings at
31 December 2023 (2022: \u00a3nil).
The contractual repayment terms of facilities are as noted below:
Nominal Year of 2023 2022
Currency interest rate maturity \u00a3m \u00a3m
Revolving Credit Facility
GBP
SONIA
2028
700.0
300.0
+1.25%\u20132.30%
Available facilities
731.0
326.0
The interest rate applicable to the syndicated loan may increase dependent upon the Group\u2019s gearing level.
The discount rate applies to current and forecast gearing levels.
Fair value
The fair value of financial assets and liabilities is as follows:
2023
2022
Fair value Carrying value Fair value Carrying value
Group \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other receivables
161. 0
161.0
164.9
164.9
Shared equity loan receivables
32.1
32.1
36.1
36.1
Cash and cash equivalents
420.1
420.1
861.6
861.6
Trade and other payables
(620.9)
(620.9)
(691.7)
(691.7)
Land payables
(372.0)
(372.0)
(472.8)
(472.8)
Partnership liability
(22.6)
(20.7)
(24.1)
(25.2)
(402.3)
(400.4)
(126.0)
(127.1)
In aggregate, the fair value of financial assets and liabilities are not materially different from their carrying value.
2023
2022
Fair value Carrying value Fair value Carrying value
Company \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other receivables
(including\ue01fintercompany balances)
2,050.9
2,050.9
2,024.9
2,024.9
Cash and cash equivalents
241.0
241.0
603.3
603.3
Trade and other payables
(including\ue01fintercompany balances)
(3,655.1)
(3,655.1)
(3,885.1)
(3,885.1)
(1,363.2)
(1,363.2)
(1,256.9)
(1,256.9)
Income and expense in relation to financial instruments are disclosed in note 9.
Financial assets and liabilities by category:
Group
Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Financial assets designated fair value
through statement of comprehensive income
32.1
36.1
\u2014
\u2014
Trade and other receivables
161.0
164.9
2,050.9
2,024.9
Cash and cash equivalents
420.1
861.6
241.0
603.3
Financial liabilities at amortised cost
(1,013.6)
(1,189.7)
(3,655.1)
(3,883.0)
(400.4)
(127.1)
(1,363.2)
(1,254.8)
Financial assets and liabilities carried at fair value are categorised within the hierarchical classification of IFRS 13 Revised (as defined within the standard) as follows:
2023 2022
Level 3 Level 3
Group \u00a3m \u00a3m
Shared equity loan receivables
32.1
36.0
Shared equity loan receivables Shared equity loan receivables represent loans advanced to customers and secured by way of a second charge on their new home. They are carried at fair value. The fair value is determined by reference to the rates at which they could be exchanged by knowledgeable and willing parties. Fair value is determined by discounting forecast cash flows for the residual period of the contract by a risk adjusted rate. There exists an element of uncertainty over the precise final valuation and timing of cash flows arising from these loans. As a result the Group has applied inputs based on current market conditions and the Group\u2019s historical experience of actual cash flows resulting from such arrangements. These inputs are by nature estimates and as such the fair value has been classified as level 3 under the fair value hierarchy laid out in IFRS 13 Fair Value Measurement. Significant unobservable inputs into the fair value measurement calculation include regional house price movements based on the Group\u2019s actual experience of regional house pricing and management forecasts of future movements, weighted average duration of the loans from inception to settlement of ten years (2022: ten years) and discount rate 8.8% (2022: 7%) based on current observed market interest rates offered to private individuals on secured second loans. The discounted forecast cash flow calculation is dependent upon the estimated future value of the properties on which the shared equity loans are secured. Adjustments to this input, which might result from a change in the wider property market, would have a proportional impact upon the fair value of the loan. Furthermore, whilst not easily assessable in advance, the resulting change in security value may affect the credit risk associated with the counterparty, influencing fair value further. Detail of the movements in shared equity loan receivables in the period are disclosed in note 17 ", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-382": { "value": "20 Borrowings Detailed disclosure of the Group\u2019s usage of financial instruments is included in note 23. There are \u00a3nil borrowings at 31 December 2023 (2022: \u00a3nil). The contractual repayment terms of facilities are as noted below:
Nominal Year of 2023 2022
Currency interest rate maturity \u00a3m \u00a3m
Revolving Credit Facility
GBP
SONIA
2028
700.0
300.0
+1.25%\u20132.30%
Available facilities
731.0
326.0
The interest rate applicable to the syndicated loan may increase dependent upon the Group\u2019s gearing level. The discount rate applies to current and forecast gearing levels. ", "dimensions": { "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-350": { "value": "
21 Trade and other payables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current liabilities
Land payables
167.7
202.8
\u2014
\u2014
Other payables
11 . 0
12.0
1.3
2.0
178.7
214.8
1.3
2.0
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current liabilities
Trade payables
312.8
368.6
5.6
3.3
Land payables
204.3
270.0
\u2014
\u2014
Other payables
66.5
54.8
17.6
16.1
Accrued expenses
238.1
256.0
8.8
6.2
Amounts owed to Group undertakings
\u2014
\u2014
3,623.1
3,857.4
821.7
949.4
3,655.1
3,883.0
Trade payables subject to payment terms were 35 days (2022: 35 days), based on the ratio of year end trade
payables (excluding retentions and unagreed claims) to amounts invoiced during the year by trade creditors. The
Group has financial risk management policies in place to ensure that all payables are paid within the pre-agreed
terms. The Directors consider that the carrying amount of trade payables approximates to their fair value.
Land payables are reduced for imputed interest, which is charged to the statement of comprehensive income over the
credit period of the purchase contract.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-413": { "value": "21 Trade and other payables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current liabilities
Land payables
167.7
202.8
\u2014
\u2014
Other payables
11 . 0
12.0
1.3
2.0
178.7
214.8
1.3
2.0
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current liabilities
Trade payables
312.8
368.6
5.6
3.3
Land payables
204.3
270.0
\u2014
\u2014
Other payables
66.5
54.8
17.6
16.1
Accrued expenses
238.1
256.0
8.8
6.2
Amounts owed to Group undertakings
\u2014
\u2014
3,623.1
3,857.4
821.7
949.4
3,655.1
3,883.0
Trade payables subject to payment terms were 35 days (2022: 35 days), based on the ratio of year end trade payables (excluding retentions and unagreed claims) to amounts invoiced during the year by trade creditors. The Group has financial risk management policies in place to ensure that all payables are paid within the pre-agreed terms. The Directors consider that the carrying amount of trade payables approximates to their fair value. Land payables are reduced for imputed interest, which is charged to the statement of comprehensive income over the credit period of the purchase contract.", "dimensions": { "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-408": { "value": "21 Trade and other payables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current liabilities
Land payables
167.7
202.8
\u2014
\u2014
Other payables
11 . 0
12.0
1.3
2.0
178.7
214.8
1.3
2.0
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current liabilities
Trade payables
312.8
368.6
5.6
3.3
Land payables
204.3
270.0
\u2014
\u2014
Other payables
66.5
54.8
17.6
16.1
Accrued expenses
238.1
256.0
8.8
6.2
Amounts owed to Group undertakings
\u2014
\u2014
3,623.1
3,857.4
821.7
949.4
3,655.1
3,883.0
Trade payables subject to payment terms were 35 days (2022: 35 days), based on the ratio of year end trade payables (excluding retentions and unagreed claims) to amounts invoiced during the year by trade creditors. The Group has financial risk management policies in place to ensure that all payables are paid within the pre-agreed terms. The Directors consider that the carrying amount of trade payables approximates to their fair value. Land payables are reduced for imputed interest, which is charged to the statement of comprehensive income over the credit period of the purchase contract.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-397": { "value": "21 Trade and other payables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current liabilities
Land payables
167.7
202.8
\u2014
\u2014
Other payables
11 . 0
12.0
1.3
2.0
178.7
214.8
1.3
2.0
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current liabilities
Trade payables
312.8
368.6
5.6
3.3
Land payables
204.3
270.0
\u2014
\u2014
Other payables
66.5
54.8
17.6
16.1
Accrued expenses
238.1
256.0
8.8
6.2
Amounts owed to Group undertakings
\u2014
\u2014
3,623.1
3,857.4
821.7
949.4
3,655.1
3,883.0
Trade payables subject to payment terms were 35 days (2022: 35 days), based on the ratio of year end trade payables (excluding retentions and unagreed claims) to amounts invoiced during the year by trade creditors. The Group has financial risk management policies in place to ensure that all payables are paid within the pre-agreed terms. The Directors consider that the carrying amount of trade payables approximates to their fair value. Land payables are reduced for imputed interest, which is charged to the statement of comprehensive income over the credit period of the purchase contract.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-383": { "value": "21 Trade and other payables
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Non-current liabilities
Land payables
167.7
202.8
\u2014
\u2014
Other payables
11 . 0
12.0
1.3
2.0
178.7
214.8
1.3
2.0
Group Group Company Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Current liabilities
Trade payables
312.8
368.6
5.6
3.3
Land payables
204.3
270.0
\u2014
\u2014
Other payables
66.5
54.8
17.6
16.1
Accrued expenses
238.1
256.0
8.8
6.2
Amounts owed to Group undertakings
\u2014
\u2014
3,623.1
3,857.4
821.7
949.4
3,655.1
3,883.0
Trade payables subject to payment terms were 35 days (2022: 35 days), based on the ratio of year end trade payables (excluding retentions and unagreed claims) to amounts invoiced during the year by trade creditors. The Group has financial risk management policies in place to ensure that all payables are paid within the pre-agreed terms. The Directors consider that the carrying amount of trade payables approximates to their fair value. Land payables are reduced for imputed interest, which is charged to the statement of comprehensive income over the credit period of the purchase contract.", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-351": { "value": "
22 Legacy buildings provision
Group Group
2023 2022
\u00a3m \u00a3m
At 1 January
333.3
72.7
Additions to provision in the year
\u2014
275.0
Imputed interest on provision in the year
4.3
\u2014
Provision released in the year
(6.6)
\u2014
Provision utilised in the year
(47.8)
(14.4)
At 31 December
283.2
333.3
In 2020 the Group made an initial commitment that no leaseholder living in a building we had developed should have
to cover the cost of removal of combustible cladding. During 2022 we signed the Building Safety Pledge (England)
and worked constructively with the Government to agree the \u2018Long-Form Contract\u2019 that turned the pledge into a legal
agreement. The Self Remediation Contract was signed on 13 March 2023.
In the year we have been informed by a number of management companies of potential liability for fire remediation
costs, and we have added 9 developments to the total number of developments. The number of developments we are
now responsible for stands at 82, of which 39 have now either secured EWS1 certificates or concluded any necessary
works. It is assumed the majority of the work will be completed over the next two years and the amount provided for
has been discounted accordingly.
During the year \u00a347.8m of the provision has been utilised for works undertaken whilst \u00a34.3m of imputed interest has
been charged to the statement of comprehensive income through finance costs. Due to the increase in gilt and interest
rates during the year, the discount rate used to estimate the future value of the provision at the period end date has
been increased. The change in discount rate has resulted in a reduction in the fair value of the provision. This has
resulted in a \u00a36.6m release to the statement of comprehensive income through cost of sales.
The assessment of the provision remains a highly complex area with judgements and estimates in respect of the cost
of the remedial works, with investigative surveys ongoing to determine the full extent of those required works. Where
remediation works have not yet been fully tendered we have estimated the likely scope and costs of such works based
on experience of other similar sites. Whilst we have exercised our best judgement of these matters, there remains the
potential for variations to this estimate from multiple factors such as material, energy and labour cost inflation, limited
qualified contractor availability and abnormal works identified on intrusive surveys. Should a 20% variation in the costs
of untendered projects occur then the overall provision would vary by +/- \u00a321.4m.
The financial statements have been prepared on the latest available information; however, there remains the possibility
that, despite management\u2019s endeavours to identify all such properties, including those constructed by acquired entities
well before acquisition, further developments requiring remediation may emerge.
The Company has no provisions.
", "dimensions": { "concept": "ifrs-full:DisclosureOfProvisionsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-398": { "value": "22 Legacy buildings provision
Group Group
2023 2022
\u00a3m \u00a3m
At 1 January
333.3
72.7
Additions to provision in the year
\u2014
275.0
Imputed interest on provision in the year
4.3
\u2014
Provision released in the year
(6.6)
\u2014
Provision utilised in the year
(47.8)
(14.4)
At 31 December
283.2
333.3
In 2020 the Group made an initial commitment that no leaseholder living in a building we had developed should have to cover the cost of removal of combustible cladding. During 2022 we signed the Building Safety Pledge (England) and worked constructively with the Government to agree the \u2018Long-Form Contract\u2019 that turned the pledge into a legal agreement. The Self Remediation Contract was signed on 13 March 2023. In the year we have been informed by a number of management companies of potential liability for fire remediation costs, and we have added 9 developments to the total number of developments. The number of developments we are now responsible for stands at 82, of which 39 have now either secured EWS1 certificates or concluded any necessary works. It is assumed the majority of the work will be completed over the next two years and the amount provided for has been discounted accordingly. During the year \u00a347.8m of the provision has been utilised for works undertaken whilst \u00a34.3m of imputed interest has been charged to the statement of comprehensive income through finance costs. Due to the increase in gilt and interest rates during the year, the discount rate used to estimate the future value of the provision at the period end date has been increased. The change in discount rate has resulted in a reduction in the fair value of the provision. This has resulted in a \u00a36.6m release to the statement of comprehensive income through cost of sales. The assessment of the provision remains a highly complex area with judgements and estimates in respect of the cost of the remedial works, with investigative surveys ongoing to determine the full extent of those required works. Where remediation works have not yet been fully tendered we have estimated the likely scope and costs of such works based on experience of other similar sites. Whilst we have exercised our best judgement of these matters, there remains the potential for variations to this estimate from multiple factors such as material, energy and labour cost inflation, limited qualified contractor availability and abnormal works identified on intrusive surveys. Should a 20% variation in the costs of untendered projects occur then the overall provision would vary by +/- \u00a321.4m. The financial statements have been prepared on the latest available information; however, there remains the possibility that, despite management\u2019s endeavours to identify all such properties, including those constructed by acquired entities well before acquisition, further developments requiring remediation may emerge. The Company has no provisions. 27 Contingent liabilities As disclosed in note 22 the Group has undertaken a review of all of its legacy buildings that used cladding on their fa\u00e7ades. The financial statements have been prepared on the latest available information; however, there remains the possibility that, despite management\u2019s, endeavours to identify all such properties, including those constructed by acquired entities well before acquisition, further developments requiring remediation may emerge. There is also the possibility that estimates based on preliminary assessments regarding the scale of remediation works relating to buildings yet to be fully surveyed may prove incorrect. The cost of remedial works will remain under review and be updated as works progress. In the normal course of business the Group has given counter indemnities in respect of performance bonds and financial guarantees. Management estimates that the bonds and guarantees amount to \u00a3453.8m (2022: \u00a3386.0m), and confirms that the possibility of cash outflow is considered minimal and no provision is required. Provision is made for the Directors\u2019 best estimate of all known legal claims and all legal actions in progress. The Group takes legal advice as to the likelihood of success of claims and actions and no provision is made where the Directors consider, based on that advice, that the action is unlikely to succeed, or a sufficiently reliable estimate of the potential obligation cannot be made. At the balance sheet date, there are no significant legal claims or actions that would lead to the recognition of a contingent liability. The Company has entered into guarantees of certain financial liabilities of related undertakings as detailed in note 32.", "dimensions": { "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-384": { "value": "
23 Financial risk management
The Group has exposure to the following risks from its use of financial instruments:
\u2022 market risk;
\u2022 liquidity risk;
\u2022 capital risk; and
\u2022 credit risk.
This note presents basic information regarding the Group\u2019s exposure to these risks and the Group\u2019s objectives, strategy
and processes for measuring and managing exposure to them. Unless otherwise stated references to the Group should
be considered to apply to the Company as well.
The Board has overall responsibility for the assessment and effective management of the Group\u2019s risks. Comprehensive
processes are in place to identify, monitor, mitigate and control risks, through the work of the Audit & Risk Committee,
Group Internal Audit department and operational management teams. This includes a wide-ranging annual survey of
the Board and senior management in order to assess key risk issues and emerging risks. Collectively, these processes
provide the Board with visibility of the Group\u2019s full risk landscape, while remaining focused on the most significant
threats and trends, and allow for the effective deployment of supporting controls.
Market risk
Market risk represents the potential for changes in foreign exchange prices and interest rates to affect the Group\u2019s profit
and the value of its financial instruments. It also incorporates the effect of the overall UK housing market on the Group.
The Group\u2019s objective in market risk management is to minimise its exposures to fluctuations within such variables whilst
optimising returns.
The Group has no significant direct currency exposures.
Interest rate risk
The Group currently holds no fixed interest borrowings. This reflects the low borrowing requirements of the Group.
The Group has no formal target for a ratio of fixed to floating funding. The responsibility for setting the level of fixed
rate debt lies with the Board and is regularly reviewed in light of economic data provided by a variety of sources.
Sensitivity analysis
If in the year ended 31 December 2023 UK interest rates had been 1.0% higher/lower than the Group\u2019s pre-tax profit
would have increased/decreased by \u00a32.8m (2022: increased/decreased by \u00a35.1m). The Group\u2019s post-tax profit
would have increased/decreased by \u00a32.0m (2022: increased/decreased by \u00a34.0m).
These sensitivities have been prepared in respect of the direct impact of such an interest rate change on the net
financing expense of financial instruments only, and do not attempt to estimate the indirect effect such a change may
have on the wider economic environment such as house pricing, mortgage availability and exchange rates.
Housing market risk
The Group is fundamentally affected by the level of UK house prices. These in turn are affected by factors such as
credit availability, employment levels, interest rates, consumer confidence and supply of land with planning. The UK\u2019s
withdrawal from the EU may have a significant impact on these factors.
Whilst it is not possible for the Group to fully mitigate such risks on a national macroeconomic basis the Group does
continually monitor its geographical spread within the UK, seeking to balance its investment in areas offering the best
immediate returns with a long-term spread of its operations throughout the UK to minimise the risk of local
microeconomic fluctuations. The Group has taken steps to control its speculative build and land acquisition activities
and work in progress levels so as to manage the exposure of the Group to any further market disruption.
Sensitivity analysis
At 31 December 2023, if UK house prices had been 10% higher/lower, and all other variables were held constant,
the Group\u2019s house price linked financial instruments, which are solely shared equity loan receivables, would increase/
decrease in value, excluding any effects of current or deferred tax, by \u00a33.2m (2022: \u00a33.6m).
Liquidity risk Liquidity risk reflects the risk that the Group will have insufficient resources to meet its financial obligations as they fall due. The Group\u2019s strategy in relation to managing liquidity risk is to ensure that the Group has sufficient liquid funds to meet all its potential liabilities as they fall due. This is true not only of normal market conditions but also of negative projections against expected outcomes, so as to avoid any risk of incurring contractual penalties or damaging the Group\u2019s reputation, which would in turn reduce the Group\u2019s ability to borrow at optimal rates. Therefore the Group remains confident of its continued compliance with financial covenants under the Revolving Credit Facility even in the event of deterioration in market conditions. Further information on the Group\u2019s liquidity forecast process is included in the Viability Statement on pages 76 to 78. The Group has entered into a number of deferred payment guarantees and performance bonds in the normal course of operations. The liabilities to which these guarantees relate are recognised and accounted for in accordance with our standard accounting policies. Liquidity forecasts are produced on (i) a daily basis to ensure that utilisation of current facilities is optimised; (ii) a monthly basis to ensure that covenant compliance targets and medium-term liquidity are maintained; and (iii) a long-term projection basis for the purpose of identifying long-term strategic funding requirements. The Directors also continually assess the balance of capital and debt funding of the Group. They consider the security of capital funding against the potentially higher rates of return offered by debt financing in order to set an efficient but stable balance appropriate to the size of the Group. The Group operates short-term uncommitted overdraft facilities to meet day-to-day liquidity requirements. These facilities are cancellable on request from the bank; however, the Group generally maintains low levels of borrowing on these in favour of secured facilities. These overdraft facilities are provided by five leading clearing banks to minimise exposure to any one lender. On 5 July 2023 the Group signed a new undrawn Revolving Credit Facility (\u2018RCF\u2019) of \u00a3700m which has a five-year term to 5 July 2028. This facility replaced the Group\u2019s existing \u00a3300m Revolving Credit Facility which was due to expire on 31 March 2026. We had good support from banking partners, with a consortium of five participating banks. The RCF is a \u2018Sustainability Linked\u2019 facility within the banks\u2019 finance frameworks, with ESG targets covering the facility\u2019s term. The targets are consistent with the Group\u2019s science-based operational carbon reduction targets, our commitment to deliver net zero homes in use by 2030 and our long-standing ambition to deliver excellent development opportunities for our colleagues. This committed facility is sufficient to meet projected liquidity requirements for the duration of the facility. Undrawn committed facilities at the reporting date amount to \u00a3700m (2022: \u00a3300m). Cash deposits The Group has a policy of ensuring cash deposits are made with the primary objective of security of principal. Accordingly deposits are made only with approved, respected, high credit rating financial institutions. Deposits are spread across such institutions to minimise exposure to any single entity and are made on a short-term basis only to preserve liquidity .
Capital risk
The capital structure of the Group consists of net cash/debt (borrowings as detailed in note 20 offset by cash and
bank balances) and equity of the Group (comprising issued capital, reserves and retained earnings as detailed in the
Statement of Changes in Shareholders\u2019 Equity). The Group\u2019s objective in managing capital is primarily to ensure the
continued ability of the Group to meet its liabilities as they fall due whilst also maintaining an appropriate balance of
equity and borrowings and minimising costs of capital. Close control of deployment of capital is maintained by detailed
management review procedures for authorisation of significant capital commitments, such as land acquisition, capital
targets for local management and a system of internal interest recharges, ensuring capital cost impact is understood
and considered by all management tiers.
Decisions regarding the balance of equity and borrowings, dividend policy and all major borrowing facilities are
reserved for the Board. The Group is currently pursuing a strategy of capital return to shareholders, whilst at the same
time building a stronger, larger business. Full details are available in the Strategic Report on pages 2 to 78.
The following are the contractual maturities of financial liabilities, including interest payments (not discounted):
2023
Carrying Contractual Less than 1\u20132 2\u20135 Over
amount cash flows 1 year years years 5 years
Group \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other payables
685.1
611 . 8
597.4
4.4
5.4
4.6
Land payables
372.0
377.0
206.5
98.7
57.6
14.2
Partnership liability
20.6
22.6
5.6
5.6
11 . 4
\u2014
Financial liabilities
1,077.7
1,011.4
809.5
108.7
74.4
18.8
2022
Carrying Contractual Less than 1\u20132 2\u20135 Over
amount cash flows 1 year years years 5 years
Group \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other payables
691.2
694.4
683.8
2.7
2.8
5.1
Land payables
477.3
481.7
269.2
142.3
62.2
8.0
Partnership liability
25.1
28.2
5.6
5.6
17.0
\u2014
Financial liabilities
1,193.6
1,204.3
958.6
150.6
82.0
13.1
2023
Carrying Contractual Less than 1\u20132 2\u20135 Over
amount cash flows 1 year years years 5 years
Company \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other payables
(including intercompany
balances)
3,659.0
3,659.0
3,658.1
0.4
0.5
\u2014
Financial liabilities
3,659.0
3,659.0
3,658.1
0.4
0.5
\u2014
It is noted that \u00a33,643.0m (2022: \u00a33,857.1m) of other payables refer to amounts owed to subsidiary undertakings.
Whilst generally repayable upon demand, in practice it is unlikely there will be any required repayment in the
short-term.
2022
Carrying Contractual Less than 1\u20132 2\u20135 Over
amount cash flows 1 year years years 5 years
Company \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other payables
(including intercompany
balances)
3,885.1
3,885.1
3,884.3
0.3
0.5
\u2014
Financial liabilities
3,885.1
3,885.1
3,884.3
0.3
0.5
\u2014
Credit risk
The nature of the UK housing industry and the legal framework surrounding it results in the Group having a low
exposure to credit risk.
In all but a minority of cases the full cash receipt for each sale occurs on legal completion, which is also the point of
revenue recognition under the Group\u2019s accounting policies.
In certain specific circumstances the Group has entered into shared equity arrangements (not applicable to the
Company). The pressures of market conditions during recessionary periods necessitated an increase in this form of
sales structure from 2008. In such cases the long-term debt is secured upon the property concerned. The Group does
not recognise collateral rights as a separate asset, nor does it have rights to trade such collateral. Reductions in
property values leads to an increase in the credit risk of the Group in respect of such sales. There was a \u00a3nil
requirement for a charge in relation to credit impairment in the year (2022: \u00a30.3m).
The maximum total credit risk is as follows:
2023 2022
Group \u00a3m \u00a3m
Trade and other receivables
161.0
164.9
Shared equity loan receivables
32.1
36.1
Cash and cash equivalents
420.1
861.6
613.2
1,062.6
2023 2022
Company \u00a3m \u00a3m
Loans and receivables (including intercompany balances)
2,050.9
2,024.9
Cash and cash equivalents
241.0
603.3
2,291.9
2,628.2
The maximum credit exposure of the Group to overseas parties is \u00a3nil (2022: \u00a3nil) (Company: \u00a3nil (2022: \u00a3nil)). The Group\u2019s credit risk is widely distributed. The maximum credit risk should any single party (excepting financial institutions) fail to perform is \u00a339.5m (2022: \u00a356.6m) and is not yet due (Company: \u00a31,439.5m (2022: \u00a31,414.5m) being a subsidiary debtor). The Directors consider these financial assets to be of high quality and the credit risk is assessed as low. The maximum credit risk associated with a financial institution in respect of short-term cash deposits is \u00a3128.5m (2022: \u00a3188.7m). Fair value The fair value of financial assets and liabilities is as follows:
2023
2022
Fair value Carrying value Fair value Carrying value
Group \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other receivables
161. 0
161.0
164.9
164.9
Shared equity loan receivables
32.1
32.1
36.1
36.1
Cash and cash equivalents
420.1
420.1
861.6
861.6
Trade and other payables
(620.9)
(620.9)
(691.7)
(691.7)
Land payables
(372.0)
(372.0)
(472.8)
(472.8)
Partnership liability
(22.6)
(20.7)
(24.1)
(25.2)
(402.3)
(400.4)
(126.0)
(127.1)
In aggregate, the fair value of financial assets and liabilities are not materially different from their carrying value.
2023
2022
Fair value Carrying value Fair value Carrying value
Company \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other receivables
(including\ue01fintercompany balances)
2,050.9
2,050.9
2,024.9
2,024.9
Cash and cash equivalents
241.0
241.0
603.3
603.3
Trade and other payables
(including\ue01fintercompany balances)
(3,655.1)
(3,655.1)
(3,885.1)
(3,885.1)
(1,363.2)
(1,363.2)
(1,256.9)
(1,256.9)
Income and expense in relation to financial instruments are disclosed in note 9.
Financial assets and liabilities by category:
Group
Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Financial assets designated fair value
through statement of comprehensive income
32.1
36.1
\u2014
\u2014
Trade and other receivables
161.0
164.9
2,050.9
2,024.9
Cash and cash equivalents
420.1
861.6
241.0
603.3
Financial liabilities at amortised cost
(1,013.6)
(1,189.7)
(3,655.1)
(3,883.0)
(400.4)
(127.1)
(1,363.2)
(1,254.8)
Financial assets and liabilities carried at fair value are categorised within the hierarchical classification of IFRS 13
Revised (as defined within the standard) as follows:
2023 2022
Level 3 Level 3
Group \u00a3m \u00a3m
Shared equity loan receivables
32.1
36.0
Shared equity loan receivables
Shared equity loan receivables represent loans advanced to customers and secured by way of a second charge on
their new home. They are carried at fair value. The fair value is determined by reference to the rates at which they could
be exchanged by knowledgeable and willing parties. Fair value is determined by discounting forecast cash flows for
the residual period of the contract by a risk adjusted rate.
There exists an element of uncertainty over the precise final valuation and timing of cash flows arising from these loans.
As a result the Group has applied inputs based on current market conditions and the Group\u2019s historical experience of
actual cash flows resulting from such arrangements. These inputs are by nature estimates and as such the fair value has
been classified as level 3 under the fair value hierarchy laid out in IFRS 13 Fair Value Measurement.
Significant unobservable inputs into the fair value measurement calculation include regional house price movements
based on the Group\u2019s actual experience of regional house pricing and management forecasts of future movements,
weighted average duration of the loans from inception to settlement of ten years (2022: ten years) and discount rate
8.8% (2022: 7%) based on current observed market interest rates offered to private individuals on secured second loans.
The discounted forecast cash flow calculation is dependent upon the estimated future value of the properties on which
the shared equity loans are secured. Adjustments to this input, which might result from a change in the wider property
market, would have a proportional impact upon the fair value of the loan. Furthermore, whilst not easily assessable in
advance, the resulting change in security value may affect the credit risk associated with the counterparty, influencing
fair value further.
Detail of the movements in shared equity loan receivables in the period are disclosed in note 17 .
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-399": { "value": "Market risk Market risk represents the potential for changes in foreign exchange prices and interest rates to affect the Group\u2019s profit and the value of its financial instruments. It also incorporates the effect of the overall UK housing market on the Group. The Group\u2019s objective in market risk management is to minimise its exposures to fluctuations within such variables whilst optimising returns. The Group has no significant direct currency exposures. Interest rate risk The Group currently holds no fixed interest borrowings. This reflects the low borrowing requirements of the Group. The Group has no formal target for a ratio of fixed to floating funding. The responsibility for setting the level of fixed rate debt lies with the Board and is regularly reviewed in light of economic data provided by a variety of sources. Sensitivity analysis If in the year ended 31 December 2023 UK interest rates had been 1.0% higher/lower than the Group\u2019s pre-tax profit would have increased/decreased by \u00a32.8m (2022: increased/decreased by \u00a35.1m). The Group\u2019s post-tax profit would have increased/decreased by \u00a32.0m (2022: increased/decreased by \u00a34.0m). These sensitivities have been prepared in respect of the direct impact of such an interest rate change on the net financing expense of financial instruments only, and do not attempt to estimate the indirect effect such a change may have on the wider economic environment such as house pricing, mortgage availability and exchange rates. Housing market risk The Group is fundamentally affected by the level of UK house prices. These in turn are affected by factors such as credit availability, employment levels, interest rates, consumer confidence and supply of land with planning. The UK\u2019s withdrawal from the EU may have a significant impact on these factors. Whilst it is not possible for the Group to fully mitigate such risks on a national macroeconomic basis the Group does continually monitor its geographical spread within the UK, seeking to balance its investment in areas offering the best immediate returns with a long-term spread of its operations throughout the UK to minimise the risk of local microeconomic fluctuations. The Group has taken steps to control its speculative build and land acquisition activities and work in progress levels so as to manage the exposure of the Group to any further market disruption. Sensitivity analysis At 31 December 2023, if UK house prices had been 10% higher/lower, and all other variables were held constant, the Group\u2019s house price linked financial instruments, which are solely shared equity loan receivables, would increase/ decrease in value, excluding any effects of current or deferred tax, by \u00a33.2m (2022: \u00a33.6m). ", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-400": { "value": "Liquidity risk Liquidity risk reflects the risk that the Group will have insufficient resources to meet its financial obligations as they fall due. The Group\u2019s strategy in relation to managing liquidity risk is to ensure that the Group has sufficient liquid funds to meet all its potential liabilities as they fall due. This is true not only of normal market conditions but also of negative projections against expected outcomes, so as to avoid any risk of incurring contractual penalties or damaging the Group\u2019s reputation, which would in turn reduce the Group\u2019s ability to borrow at optimal rates. Therefore the Group remains confident of its continued compliance with financial covenants under the Revolving Credit Facility even in the event of deterioration in market conditions. Further information on the Group\u2019s liquidity forecast process is included in the Viability Statement on pages 76 to 78. The Group has entered into a number of deferred payment guarantees and performance bonds in the normal course of operations. The liabilities to which these guarantees relate are recognised and accounted for in accordance with our standard accounting policies. Liquidity forecasts are produced on (i) a daily basis to ensure that utilisation of current facilities is optimised; (ii) a monthly basis to ensure that covenant compliance targets and medium-term liquidity are maintained; and (iii) a long-term projection basis for the purpose of identifying long-term strategic funding requirements. The Directors also continually assess the balance of capital and debt funding of the Group. They consider the security of capital funding against the potentially higher rates of return offered by debt financing in order to set an efficient but stable balance appropriate to the size of the Group. The Group operates short-term uncommitted overdraft facilities to meet day-to-day liquidity requirements. These facilities are cancellable on request from the bank; however, the Group generally maintains low levels of borrowing on these in favour of secured facilities. These overdraft facilities are provided by five leading clearing banks to minimise exposure to any one lender. On 5 July 2023 the Group signed a new undrawn Revolving Credit Facility (\u2018RCF\u2019) of \u00a3700m which has a five-year term to 5 July 2028. This facility replaced the Group\u2019s existing \u00a3300m Revolving Credit Facility which was due to expire on 31 March 2026. We had good support from banking partners, with a consortium of five participating banks. The RCF is a \u2018Sustainability Linked\u2019 facility within the banks\u2019 finance frameworks, with ESG targets covering the facility\u2019s term. The targets are consistent with the Group\u2019s science-based operational carbon reduction targets, our commitment to deliver net zero homes in use by 2030 and our long-standing ambition to deliver excellent development opportunities for our colleagues. This committed facility is sufficient to meet projected liquidity requirements for the duration of the facility. Undrawn committed facilities at the reporting date amount to \u00a3700m (2022: \u00a3300m). Cash deposits The Group has a policy of ensuring cash deposits are made with the primary objective of security of principal. Accordingly deposits are made only with approved, respected, high credit rating financial institutions. Deposits are spread across such institutions to minimise exposure to any single entity and are made on a short-term basis only to preserve liquidity ", "dimensions": { "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-402": { "value": "Capital risk The capital structure of the Group consists of net cash/debt (borrowings as detailed in note 20 offset by cash and bank balances) and equity of the Group (comprising issued capital, reserves and retained earnings as detailed in the Statement of Changes in Shareholders\u2019 Equity). The Group\u2019s objective in managing capital is primarily to ensure the continued ability of the Group to meet its liabilities as they fall due whilst also maintaining an appropriate balance of equity and borrowings and minimising costs of capital. Close control of deployment of capital is maintained by detailed management review procedures for authorisation of significant capital commitments, such as land acquisition, capital targets for local management and a system of internal interest recharges, ensuring capital cost impact is understood and considered by all management tiers. Decisions regarding the balance of equity and borrowings, dividend policy and all major borrowing facilities are reserved for the Board. The Group is currently pursuing a strategy of capital return to shareholders, whilst at the same time building a stronger, larger business. Full details are available in the Strategic Report on pages 2 to 78. The following are the contractual maturities of financial liabilities, including interest payments (not discounted):
2023
Carrying Contractual Less than 1\u20132 2\u20135 Over
amount cash flows 1 year years years 5 years
Group \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other payables
685.1
611 . 8
597.4
4.4
5.4
4.6
Land payables
372.0
377.0
206.5
98.7
57.6
14.2
Partnership liability
20.6
22.6
5.6
5.6
11 . 4
\u2014
Financial liabilities
1,077.7
1,011.4
809.5
108.7
74.4
18.8
2022
Carrying Contractual Less than 1\u20132 2\u20135 Over
amount cash flows 1 year years years 5 years
Group \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other payables
691.2
694.4
683.8
2.7
2.8
5.1
Land payables
477.3
481.7
269.2
142.3
62.2
8.0
Partnership liability
25.1
28.2
5.6
5.6
17.0
\u2014
Financial liabilities
1,193.6
1,204.3
958.6
150.6
82.0
13.1
2023
Carrying Contractual Less than 1\u20132 2\u20135 Over
amount cash flows 1 year years years 5 years
Company \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other payables
(including intercompany
balances)
3,659.0
3,659.0
3,658.1
0.4
0.5
\u2014
Financial liabilities
3,659.0
3,659.0
3,658.1
0.4
0.5
\u2014
It is noted that \u00a33,643.0m (2022: \u00a33,857.1m) of other payables refer to amounts owed to subsidiary undertakings. Whilst generally repayable upon demand, in practice it is unlikely there will be any required repayment in the short-term.
2022
Carrying Contractual Less than 1\u20132 2\u20135 Over
amount cash flows 1 year years years 5 years
Company \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other payables
(including intercompany
balances)
3,885.1
3,885.1
3,884.3
0.3
0.5
\u2014
Financial liabilities
3,885.1
3,885.1
3,884.3
0.3
0.5
\u2014
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-401": { "value": "Credit risk The nature of the UK housing industry and the legal framework surrounding it results in the Group having a low exposure to credit risk. In all but a minority of cases the full cash receipt for each sale occurs on legal completion, which is also the point of revenue recognition under the Group\u2019s accounting policies. In certain specific circumstances the Group has entered into shared equity arrangements (not applicable to the Company). The pressures of market conditions during recessionary periods necessitated an increase in this form of sales structure from 2008. In such cases the long-term debt is secured upon the property concerned. The Group does not recognise collateral rights as a separate asset, nor does it have rights to trade such collateral. Reductions in property values leads to an increase in the credit risk of the Group in respect of such sales. There was a \u00a3nil requirement for a charge in relation to credit impairment in the year (2022: \u00a30.3m). The maximum total credit risk is as follows:
2023 2022
Group \u00a3m \u00a3m
Trade and other receivables
161.0
164.9
Shared equity loan receivables
32.1
36.1
Cash and cash equivalents
420.1
861.6
613.2
1,062.6
2023 2022
Company \u00a3m \u00a3m
Loans and receivables (including intercompany balances)
2,050.9
2,024.9
Cash and cash equivalents
241.0
603.3
2,291.9
2,628.2
The maximum credit exposure of the Group to overseas parties is \u00a3nil (2022: \u00a3nil) (Company: \u00a3nil (2022: \u00a3nil)).
The Group\u2019s credit risk is widely distributed. The maximum credit risk should any single party (excepting financial
institutions) fail to perform is \u00a339.5m (2022: \u00a356.6m) and is not yet due (Company: \u00a31,439.5m (2022: \u00a31,414.5m)
being a subsidiary debtor). The Directors consider these financial assets to be of high quality and the credit risk is
assessed as low. The maximum credit risk associated with a financial institution in respect of short-term cash deposits
is \u00a3128.5m (2022: \u00a3188.7m).
", "dimensions": { "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-409": { "value": "Fair value The fair value of financial assets and liabilities is as follows:
2023
2022
Fair value Carrying value Fair value Carrying value
Group \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other receivables
161. 0
161.0
164.9
164.9
Shared equity loan receivables
32.1
32.1
36.1
36.1
Cash and cash equivalents
420.1
420.1
861.6
861.6
Trade and other payables
(620.9)
(620.9)
(691.7)
(691.7)
Land payables
(372.0)
(372.0)
(472.8)
(472.8)
Partnership liability
(22.6)
(20.7)
(24.1)
(25.2)
(402.3)
(400.4)
(126.0)
(127.1)
In aggregate, the fair value of financial assets and liabilities are not materially different from their carrying value.
2023
2022
Fair value Carrying value Fair value Carrying value
Company \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other receivables
(including\ue01fintercompany balances)
2,050.9
2,050.9
2,024.9
2,024.9
Cash and cash equivalents
241.0
241.0
603.3
603.3
Trade and other payables
(including\ue01fintercompany balances)
(3,655.1)
(3,655.1)
(3,885.1)
(3,885.1)
(1,363.2)
(1,363.2)
(1,256.9)
(1,256.9)
Income and expense in relation to financial instruments are disclosed in note 9. Financial assets and liabilities by category:
Group
Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Financial assets designated fair value
through statement of comprehensive income
32.1
36.1
\u2014
\u2014
Trade and other receivables
161.0
164.9
2,050.9
2,024.9
Cash and cash equivalents
420.1
861.6
241.0
603.3
Financial liabilities at amortised cost
(1,013.6)
(1,189.7)
(3,655.1)
(3,883.0)
(400.4)
(127.1)
(1,363.2)
(1,254.8)
Financial assets and liabilities carried at fair value are categorised within the hierarchical classification of IFRS 13 Revised (as defined within the standard) as follows:
2023 2022
Level 3 Level 3
Group \u00a3m \u00a3m
Shared equity loan receivables
32.1
36.0
Shared equity loan receivables Shared equity loan receivables represent loans advanced to customers and secured by way of a second charge on their new home. They are carried at fair value. The fair value is determined by reference to the rates at which they could be exchanged by knowledgeable and willing parties. Fair value is determined by discounting forecast cash flows for the residual period of the contract by a risk adjusted rate. There exists an element of uncertainty over the precise final valuation and timing of cash flows arising from these loans. As a result the Group has applied inputs based on current market conditions and the Group\u2019s historical experience of actual cash flows resulting from such arrangements. These inputs are by nature estimates and as such the fair value has been classified as level 3 under the fair value hierarchy laid out in IFRS 13 Fair Value Measurement. Significant unobservable inputs into the fair value measurement calculation include regional house price movements based on the Group\u2019s actual experience of regional house pricing and management forecasts of future movements, weighted average duration of the loans from inception to settlement of ten years (2022: ten years) and discount rate 8.8% (2022: 7%) based on current observed market interest rates offered to private individuals on secured second loans. The discounted forecast cash flow calculation is dependent upon the estimated future value of the properties on which the shared equity loans are secured. Adjustments to this input, which might result from a change in the wider property market, would have a proportional impact upon the fair value of the loan. Furthermore, whilst not easily assessable in advance, the resulting change in security value may affect the credit risk associated with the counterparty, influencing fair value further. Detail of the movements in shared equity loan receivables in the period are disclosed in note 17 .", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-403": { "value": "Fair value The fair value of financial assets and liabilities is as follows:
2023
2022
Fair value Carrying value Fair value Carrying value
Group \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other receivables
161. 0
161.0
164.9
164.9
Shared equity loan receivables
32.1
32.1
36.1
36.1
Cash and cash equivalents
420.1
420.1
861.6
861.6
Trade and other payables
(620.9)
(620.9)
(691.7)
(691.7)
Land payables
(372.0)
(372.0)
(472.8)
(472.8)
Partnership liability
(22.6)
(20.7)
(24.1)
(25.2)
(402.3)
(400.4)
(126.0)
(127.1)
In aggregate, the fair value of financial assets and liabilities are not materially different from their carrying value.
2023
2022
Fair value Carrying value Fair value Carrying value
Company \u00a3m \u00a3m \u00a3m \u00a3m
Trade and other receivables
(including\ue01fintercompany balances)
2,050.9
2,050.9
2,024.9
2,024.9
Cash and cash equivalents
241.0
241.0
603.3
603.3
Trade and other payables
(including\ue01fintercompany balances)
(3,655.1)
(3,655.1)
(3,885.1)
(3,885.1)
(1,363.2)
(1,363.2)
(1,256.9)
(1,256.9)
Income and expense in relation to financial instruments are disclosed in note 9. Financial assets and liabilities by category:
Group
Company
2023 2022 2023 2022
\u00a3m \u00a3m \u00a3m \u00a3m
Financial assets designated fair value
through statement of comprehensive income
32.1
36.1
\u2014
\u2014
Trade and other receivables
161.0
164.9
2,050.9
2,024.9
Cash and cash equivalents
420.1
861.6
241.0
603.3
Financial liabilities at amortised cost
(1,013.6)
(1,189.7)
(3,655.1)
(3,883.0)
(400.4)
(127.1)
(1,363.2)
(1,254.8)
Financial assets and liabilities carried at fair value are categorised within the hierarchical classification of IFRS 13 Revised (as defined within the standard) as follows:
2023 2022
Level 3 Level 3
Group \u00a3m \u00a3m
Shared equity loan receivables
32.1
36.0
Shared equity loan receivables Shared equity loan receivables represent loans advanced to customers and secured by way of a second charge on their new home. They are carried at fair value. The fair value is determined by reference to the rates at which they could be exchanged by knowledgeable and willing parties. Fair value is determined by discounting forecast cash flows for the residual period of the contract by a risk adjusted rate. There exists an element of uncertainty over the precise final valuation and timing of cash flows arising from these loans. As a result the Group has applied inputs based on current market conditions and the Group\u2019s historical experience of actual cash flows resulting from such arrangements. These inputs are by nature estimates and as such the fair value has been classified as level 3 under the fair value hierarchy laid out in IFRS 13 Fair Value Measurement. Significant unobservable inputs into the fair value measurement calculation include regional house price movements based on the Group\u2019s actual experience of regional house pricing and management forecasts of future movements, weighted average duration of the loans from inception to settlement of ten years (2022: ten years) and discount rate 8.8% (2022: 7%) based on current observed market interest rates offered to private individuals on secured second loans. The discounted forecast cash flow calculation is dependent upon the estimated future value of the properties on which the shared equity loans are secured. Adjustments to this input, which might result from a change in the wider property market, would have a proportional impact upon the fair value of the loan. Furthermore, whilst not easily assessable in advance, the resulting change in security value may affect the credit risk associated with the counterparty, influencing fair value further. Detail of the movements in shared equity loan receivables in the period are disclosed in note 17 .", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-352": { "value": "
25 Share capital
2023 2022
\u00a3m \u00a3m
Allotted, called up and fully paid
319,421,416
(2022: 319,323,432) ordinary shares of 10p each
31.9
31 . 9
The Company has one class of ordinary shares which carry no right to fixed income. All issued shares are fully paid.
During the year 97,984 ordinary shares (2022: 116,958) were issued in satisfaction of share option exercises.
The Company has established an Employee Benefit Trust to hold shares for participants of the Company\u2019s various share
schemes. The Trustee is Persimmon (Share Scheme Trustees) Limited, a subsidiary company. During 2023, the Trustee
transferred 17,227 shares (2022: 53,988) to employees. At 31 December 2023 the trust held 180,984 shares (2022:
88,635) on which dividends have been waived. The market value of these shares at 31 December 2023 was
\u00a32,513,868 (2022: \u00a31,078,688).
Own shares
Own shares held at cost are reconciled as follows:
Group
\u00a3m
Balance at 31 December 2022
0.1
Own shares purchased
1.4
Disposed of on exercise/vesting to employees
(0.2)
Balance at 31 December 2023
1.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-385": { "value": "25 Share capital
2023 2022
\u00a3m \u00a3m
Allotted, called up and fully paid
319,421,416
(2022: 319,323,432) ordinary shares of 10p each
31.9
31 . 9
The Company has one class of ordinary shares which carry no right to fixed income. All issued shares are fully paid. During the year 97,984 ordinary shares (2022: 116,958) were issued in satisfaction of share option exercises. The Company has established an Employee Benefit Trust to hold shares for participants of the Company\u2019s various share schemes. The Trustee is Persimmon (Share Scheme Trustees) Limited, a subsidiary company. During 2023, the Trustee transferred 17,227 shares (2022: 53,988) to employees. At 31 December 2023 the trust held 180,984 shares (2022: 88,635) on which dividends have been waived. The market value of these shares at 31 December 2023 was \u00a32,513,868 (2022: \u00a31,078,688). Own shares Own shares held at cost are reconciled as follows:
Group
\u00a3m
Balance at 31 December 2022
0.1
Own shares purchased
1.4
Disposed of on exercise/vesting to employees
(0.2)
Balance at 31 December 2023
1.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-404": { "value": "Own shares Own shares held at cost are reconciled as follows:
Group
\u00a3m
Balance at 31 December 2022
0.1
Own shares purchased
1.4
Disposed of on exercise/vesting to employees
(0.2)
Balance at 31 December 2023
1.3
", "dimensions": { "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-353": { "value": "
26 Reconciliation of net cash flow to net cash and analysis of net cash
2023 2022
Group \u00a3m \u00a3m
Cash and cash equivalents at 1 January
861.6
1,246.6
Decrease in net cash and cash equivalents in cash flow
(441.5)
(385.0)
Cash and cash equivalents at 31 December
420.1
861.6
IFRS 16 lease liability
(12.9)
(10.9)
Net cash at 31 December
407.2
850.7
Net cash is defined as cash and cash equivalents, finance lease obligations and interest bearing borrowings.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashFlowStatementExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-354": { "value": "
27 Contingent liabilities
As disclosed in note 22 the Group has undertaken a review of all of its legacy buildings that used cladding on their fa\u00e7ades.
The financial statements have been prepared on the latest available information; however, there remains the possibility
that, despite management\u2019s, endeavours to identify all such properties, including those constructed by acquired entities
well before acquisition, further developments requiring remediation may emerge. There is also the possibility that
estimates based on preliminary assessments regarding the scale of remediation works relating to buildings yet to be
fully surveyed may prove incorrect. The cost of remedial works will remain under review and be updated as works progress.
In the normal course of business the Group has given counter indemnities in respect of performance bonds and
financial guarantees. Management estimates that the bonds and guarantees amount to \u00a3453.8m (2022: \u00a3386.0m),
and confirms that the possibility of cash outflow is considered minimal and no provision is required.
Provision is made for the Directors\u2019 best estimate of all known legal claims and all legal actions in progress. The Group
takes legal advice as to the likelihood of success of claims and actions and no provision is made where the Directors
consider, based on that advice, that the action is unlikely to succeed, or a sufficiently reliable estimate of the potential
obligation cannot be made. At the balance sheet date, there are no significant legal claims or actions that would lead
to the recognition of a contingent liability.
The Company has entered into guarantees of certain financial liabilities of related undertakings as detailed in note 32.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-386": { "value": "27 Contingent liabilities As disclosed in note 22 the Group has undertaken a review of all of its legacy buildings that used cladding on their fa\u00e7ades. The financial statements have been prepared on the latest available information; however, there remains the possibility that, despite management\u2019s, endeavours to identify all such properties, including those constructed by acquired entities well before acquisition, further developments requiring remediation may emerge. There is also the possibility that estimates based on preliminary assessments regarding the scale of remediation works relating to buildings yet to be fully surveyed may prove incorrect. The cost of remedial works will remain under review and be updated as works progress. In the normal course of business the Group has given counter indemnities in respect of performance bonds and financial guarantees. Management estimates that the bonds and guarantees amount to \u00a3453.8m (2022: \u00a3386.0m), and confirms that the possibility of cash outflow is considered minimal and no provision is required. Provision is made for the Directors\u2019 best estimate of all known legal claims and all legal actions in progress. The Group takes legal advice as to the likelihood of success of claims and actions and no provision is made where the Directors consider, based on that advice, that the action is unlikely to succeed, or a sufficiently reliable estimate of the potential obligation cannot be made. At the balance sheet date, there are no significant legal claims or actions that would lead to the recognition of a contingent liability. The Company has entered into guarantees of certain financial liabilities of related undertakings as detailed in note 32.", "dimensions": { "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-355": { "value": "
28 Retirement benefit assets
As at 31 December 2023 the Group operated five employee pension schemes, being three Group personal pension
schemes and two defined benefit pension schemes. Remeasurement gains and losses in the defined benefit schemes
are recognised in full as other comprehensive income within the consolidated statement of comprehensive income.
All other pension scheme costs are reported in profit or loss.
Group personal pension schemes
The Group makes contributions to the Group personal pension schemes which are open to employees who are not
members of the defined benefit schemes. Dependent upon an employee\u2019s role and length of service the Group may
make contributions to the schemes of up to a maximum of 9% of basic salary. The Group has no liability beyond these
contributions. Group contributions to these schemes of \u00a35.5m (2022: \u00a35.7m) are expensed through the statement of
comprehensive income as incurred.
Persimmon Plc Pension & Life Assurance Scheme
The Persimmon Plc Pension & Life Assurance Scheme (the \u2018Persimmon Scheme\u2019) is a defined benefit scheme which
was closed to new members in 2001. Active members of the Persimmon Scheme accrue benefits on a career average
revalued earnings basis. The assets of the Persimmon Scheme are held separately from those of the Group.
On 12 December 2012 Persimmon Plc made a one-off cash contribution of \u00a357.8m to the Persimmon Scheme.
The Persimmon Scheme used these funds to invest in Persimmon Scottish Limited Partnership, which has undertaken
to provide fixed cash payments to the Persimmon Scheme to meet its liabilities over a 15-year period. See note 29
for further details.
Prowting Pension Scheme
The Group also operates the Prowting Pension Scheme (the \u2018Prowting Scheme\u2019), a defined benefit scheme. Benefits
accrue on a career average revalued earnings basis. The assets of the Prowting Scheme are held separately from those
of the Group.
Role of Trustees
Both the Persimmon Scheme and the Prowting Scheme (jointly \u2018the Pension Schemes\u2019) are managed by Trustees who
are legally separate from the Company. The Trustees are composed of representatives appointed by both the employer
and employees. The Trustees are required by law to act in the interest of all relevant beneficiaries and are responsible
in particular for the asset investment policy plus the day-to-day administration of the benefits. They are also responsible
for jointly agreeing with the employer the level of contributions due to the Pension Schemes (see below).
Funding requirements
UK legislation requires that pension schemes are funded prudently, i.e. to a level in excess of the current expected cost
of providing benefits. The last funding valuation of the Persimmon Scheme was carried out by a qualified actuary as at
1 January 2020 and as at 31 March 2021 for the Prowting Scheme. The next funding valuation will be as at 1 January
2023 for the Persimmon Scheme (which is in progress) and as at 31 March 2024 for the Prowting Scheme. Subsequent
valuations will be at intervals of no more than three years thereafter.
Following each valuation, the Trustees and the Company must agree the contributions required (if any) to ensure the
Pension Schemes are fully funded over time on a suitable prudent measure. Contributions agreed in this manner
constitute a minimum funding requirement.
Given the current strength of the Persimmon and Prowting Scheme\u2019s funding no deficit contributions are required for
either scheme. Salary related contributions for active members are payable for the Persimmon Scheme.
Under the governing documentation of the Pension Schemes, any future surplus in either scheme would be returnable to
the Group by refund, assuming gradual settlement of the liabilities over the lifetime of the Pension Schemes. As a result
the Group does not consider there to be an asset ceiling in respect of the Pension Schemes.
Both Pension Schemes are in a strong funding position. The Group remains committed to the continuity of this position
and will review future contribution levels in the event of any significant deficit arising.
The Pension Schemes\u2019 investment strategy is to maintain a portfolio of suitable assets of appropriate liquidity which will
generate investment returns to meet, together with future contributions, the benefits of the members as they fall due.*
The Pension Schemes do not invest directly in complex financial instruments, though there may be limited indirect
investment through investment funds.
* Given the current financial strength of the Pension Schemes\u2019 net asset position a low risk investment strategy is applied.
Regulation
The UK pensions market is regulated by The Pensions Regulator, whose key statutory objectives in relation to UK
defined benefit plans are:
\u2022 to protect the benefits of members;
\u2022 to promote, and to improve understanding of good administration; and
\u2022 to reduce the risk of situations arising which may lead to compensation being payable from the Pension Protection
Fund (\u2018PPF\u2019).
The Pensions Regulator has sweeping powers including the powers:
\u2022 to wind up a scheme where winding up is necessary to protect members\u2019 interests;
\u2022 to appoint or remove a trustee;
\u2022 to impose a schedule of company contributions or the calculation of the technical provisions where a trustee and
company fail to agree on appropriate contributions; and
\u2022 to impose a contribution where there has been a detrimental action against a scheme.
Risks associated with the Pension Schemes
The Pension Schemes expose the Group to a number of risks, the most significant of which are:
Risk
Description
Volatile asset returns
The defined benefit obligation (\u2018DBO\u2019) is calculated using a discount rate set with reference
to corporate bond yields. If assets underperform this discount rate, this will create an element
of deficit. The Persimmon Scheme holds a significant proportion (c.20%) of assets in growth
assets (such as equities) which, although expected to outperform corporate bonds in the
long-term, create volatility and risk in the short-term. The allocation to growth assets is
monitored to ensure it remains appropriate given the Pension Schemes\u2019 long-term objectives.
Changes in A decrease in corporate bond yields will increase the value placed on the DBO for
bond yields accounting purposes, although this will be partially offset by an increase in the value of the
Pension Schemes\u2019 bond holdings.
Inflation risk
A significant proportion of the DBO is indexed in line with price inflation and higher inflation
will lead to higher liabilities (although, in most cases, this is capped at an annual increase of 5%).
Life expectancy
The majority of the Pension Schemes\u2019 obligations are to provide benefits for the life of the
member, so increases in life expectancy will result in an increase in the liabilities.
There are a number of other risks of running the Pension Schemes including operational risks (such as paying out the
wrong benefits), legislative risks (such as the Government increasing the burden on pension through new legislation)
and other demographic risks, such as a higher proportion of members having a dependant eligible to receive a
survivor\u2019s pension.
Net pension asset
The amounts included in the balance sheet arising from the Group\u2019s obligations in respect of the Pension Schemes are
as follows:
2023 2022
\u00a3m \u00a3m
Fair value of Pension Scheme assets
552.7
555.6
Present value of funded obligations
(425.6)
(399.7)
Net pension asset
127.1
155.9
A deferred tax liability totalling \u00a336.9m (2022: \u00a345.2m) has been recognised on the balance sheet in relation to the
net pension asset.
Movements in the net pension asset on the balance sheet were as follows:
2023 2022
\u00a3m \u00a3m
As at 1 January
155.9
148.8
Total (loss)/gain recognised in the period
(29.2)
5.5
Company contributions paid in the period
0.4
1.6
As at 31 December
127.1
155.9
The Group has recognised a net pension asset on the basis that under the rules of the schemes any future surplus would
be returnable to the Group by refund, assuming gradual settlement over the lifetime of the schemes.
The Company does not present valuations of its own separate assets and liabilities under the Pension Schemes as the
entire net assets of the Pension Schemes are included in the Company balance sheet, as ultimate scheme sponsor.
The amounts recognised in the consolidated statement of comprehensive income are as follows:
2023 2022
\u00a3m \u00a3m
Current service cost
0.9
1.9
Administrative expense
0.6
0.6
Pension cost recognised as operating expense
1.5
2.5
Interest cost
18.8
11 . 3
Return on assets recorded as interest
(26.2)
(14.1)
Pension cost recognised as net finance credit
(7.4)
(2.8)
Total defined benefit pension credit recognised in profit or loss
(5.9)
(0.3)
Remeasurement loss/(gain) recognised in other comprehensive income
35.1
(5.2)
Total defined benefit scheme loss/(gain) recognised
29.2
(5.5)
The net remeasurement loss in the year of \u00a335.1m (2022: gain of \u00a35.2m) reflects the net effect of a loss in asset values
of \u00a310.1m, and an increase in liability obligations of \u00a325.0m, largely arising from a decrease in discount rates.
Assets
The assets of the Pension Schemes have been calculated at fair value and are invested in the following asset classes:
2023 2022
\u00a3m \u00a3m
Equity
\u2013 UK
2.4
4.5
\u2013 US
10.8
26.5
\u2013 Eurozone
8.7
19.3
\u2013 Other
Bonds
4.9
14.1
\u2013 Government
321.2
397.4
\u2013 Sub-investment grade
115.5
4.9
Asset backed funding
20.0
24.1
Diversified growth fund
50.4
49.0
Cash
18.8
15.8
Total
552.7
555.6
All assets have a quoted market value in an active market, with the exception of asset backed funding of \u00a320.0m
(2022: \u00a324.1m), which related to secured cash flows.
The Persimmon Scheme holds 94% (2022: 94%) of the gross assets of the Pension Schemes and 94% (2022: 94%) of
the gross liabilities. The remainder relates to the Prowting Scheme. The Pension Schemes do not engage in investments
in complex financial assets such as insurance contracts or longevity derivatives.
Changes in the fair value of scheme assets were as follows:
2023 2022
\u00a3m \u00a3m
As at 1 January
555.6
751. 9
Return on assets recorded as interest
26.2
14.1
Remeasurement losses on assets
(10.1)
(189.5)
Contributions
0.4
1.6
Benefits and expenses paid
(19.4)
(22.5)
As at 31 December
552.7
555.6
Defined benefit obligation
The liabilities of the Pension Schemes, at each balance sheet date, have been calculated on the following
financial assumptions:
2023 2022
% p.a. % p.a.
Discount rate
4.5
4.8
General pay increases
3.0
3.0
RPI inflation assumption
3.0
3.0
CPI inflation assumption
2.6
2.5
Post-retirement life expectancy for retirement aged members is as follows:
2023 2022
Years Years
Male current pensioner
22.1
22.6
Male future pensioner
22.9
23.3
The defined benefit obligation includes benefits for current employees, former employees and current pensioners.
The following table provides an analysis of the defined benefit obligation by membership category:
2023 2022
\u00a3m \u00a3m
Total value of current employees\u2019 benefits
23.2
21. 5
Deferred members\u2019 benefits
161.3
139.6
Pensioner members\u2019 benefits
241.1
238.6
Total defined benefit obligation
425.6
399.7
The Pension Schemes\u2019 duration is an indicator of the weighted average time until benefit payments are made. For the
Pension Schemes as a whole, the duration is around 12 years.
Changes in the defined benefit obligation were as follows:
2023 2022
\u00a3m \u00a3m
As at 1 January
(399.7)
(603.1)
Current service cost
(0.9)
(1.9)
Interest cost
(18.8)
(11.3)
Remeasurement (losses)/gain on liabilities
(25.0)
194.7
Benefits paid
18.8
21. 9
As at 31 December
(425.6)
(399.7)
Sensitivities
The key assumptions used for IAS 19 are: discount rate, inflation and mortality. If different assumptions were used, this
could have a material effect on the results disclosed. The sensitivity of the results to these assumptions is as follows:
2023 2022
\u00a3m \u00a3m
Present value of defined benefit obligation (\u2018DBO\u2019)
425.6
399.7
\u2013 DBO following a 0.25% decrease in the discount rate
438.5
413.0
\u2013 DBO following a 0.25% increase in the discount rate
413.2
387.0
\u2013 DBO following a 0.25% decrease in the inflation assumption
418.6
392.9
\u2013 DBO following a 0.25% increase in the inflation assumption
4 31.7
406.4
\u2013 DBO following a 1 year decrease to life expectancy
409.1
386.5
\u2013 DBO following a 1 year increase to life expectancy
441.9
413.0
The sensitivity information shown above has been prepared using the same methodology as the calculation for the
current DBO.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-387": { "value": "28 Retirement benefit assets As at 31 December 2023 the Group operated five employee pension schemes, being three Group personal pension schemes and two defined benefit pension schemes. Remeasurement gains and losses in the defined benefit schemes are recognised in full as other comprehensive income within the consolidated statement of comprehensive income. All other pension scheme costs are reported in profit or loss. Group personal pension schemes The Group makes contributions to the Group personal pension schemes which are open to employees who are not members of the defined benefit schemes. Dependent upon an employee\u2019s role and length of service the Group may make contributions to the schemes of up to a maximum of 9% of basic salary. The Group has no liability beyond these contributions. Group contributions to these schemes of \u00a35.5m (2022: \u00a35.7m) are expensed through the statement of comprehensive income as incurred. Persimmon Plc Pension & Life Assurance Scheme The Persimmon Plc Pension & Life Assurance Scheme (the \u2018Persimmon Scheme\u2019) is a defined benefit scheme which was closed to new members in 2001. Active members of the Persimmon Scheme accrue benefits on a career average revalued earnings basis. The assets of the Persimmon Scheme are held separately from those of the Group. On 12 December 2012 Persimmon Plc made a one-off cash contribution of \u00a357.8m to the Persimmon Scheme. The Persimmon Scheme used these funds to invest in Persimmon Scottish Limited Partnership, which has undertaken to provide fixed cash payments to the Persimmon Scheme to meet its liabilities over a 15-year period. See note 29 for further details. Prowting Pension Scheme The Group also operates the Prowting Pension Scheme (the \u2018Prowting Scheme\u2019), a defined benefit scheme. Benefits accrue on a career average revalued earnings basis. The assets of the Prowting Scheme are held separately from those of the Group. Role of Trustees Both the Persimmon Scheme and the Prowting Scheme (jointly \u2018the Pension Schemes\u2019) are managed by Trustees who are legally separate from the Company. The Trustees are composed of representatives appointed by both the employer and employees. The Trustees are required by law to act in the interest of all relevant beneficiaries and are responsible in particular for the asset investment policy plus the day-to-day administration of the benefits. They are also responsible for jointly agreeing with the employer the level of contributions due to the Pension Schemes (see below). Funding requirements UK legislation requires that pension schemes are funded prudently, i.e. to a level in excess of the current expected cost of providing benefits. The last funding valuation of the Persimmon Scheme was carried out by a qualified actuary as at 1 January 2020 and as at 31 March 2021 for the Prowting Scheme. The next funding valuation will be as at 1 January 2023 for the Persimmon Scheme (which is in progress) and as at 31 March 2024 for the Prowting Scheme. Subsequent valuations will be at intervals of no more than three years thereafter. Following each valuation, the Trustees and the Company must agree the contributions required (if any) to ensure the Pension Schemes are fully funded over time on a suitable prudent measure. Contributions agreed in this manner constitute a minimum funding requirement. Given the current strength of the Persimmon and Prowting Scheme\u2019s funding no deficit contributions are required for either scheme. Salary related contributions for active members are payable for the Persimmon Scheme. Under the governing documentation of the Pension Schemes, any future surplus in either scheme would be returnable to the Group by refund, assuming gradual settlement of the liabilities over the lifetime of the Pension Schemes. As a result the Group does not consider there to be an asset ceiling in respect of the Pension Schemes. Both Pension Schemes are in a strong funding position. The Group remains committed to the continuity of this position and will review future contribution levels in the event of any significant deficit arising. The Pension Schemes\u2019 investment strategy is to maintain a portfolio of suitable assets of appropriate liquidity which will generate investment returns to meet, together with future contributions, the benefits of the members as they fall due.* The Pension Schemes do not invest directly in complex financial instruments, though there may be limited indirect investment through investment funds. * Given the current financial strength of the Pension Schemes\u2019 net asset position a low risk investment strategy is applied. Regulation The UK pensions market is regulated by The Pensions Regulator, whose key statutory objectives in relation to UK defined benefit plans are: \u2022 to protect the benefits of members; \u2022 to promote, and to improve understanding of good administration; and \u2022 to reduce the risk of situations arising which may lead to compensation being payable from the Pension Protection Fund (\u2018PPF\u2019). The Pensions Regulator has sweeping powers including the powers: \u2022 to wind up a scheme where winding up is necessary to protect members\u2019 interests; \u2022 to appoint or remove a trustee; \u2022 to impose a schedule of company contributions or the calculation of the technical provisions where a trustee and company fail to agree on appropriate contributions; and \u2022 to impose a contribution where there has been a detrimental action against a scheme. Risks associated with the Pension Schemes The Pension Schemes expose the Group to a number of risks, the most significant of which are:
Risk
Description
Volatile asset returns
The defined benefit obligation (\u2018DBO\u2019) is calculated using a discount rate set with reference
to corporate bond yields. If assets underperform this discount rate, this will create an element
of deficit. The Persimmon Scheme holds a significant proportion (c.20%) of assets in growth
assets (such as equities) which, although expected to outperform corporate bonds in the
long-term, create volatility and risk in the short-term. The allocation to growth assets is
monitored to ensure it remains appropriate given the Pension Schemes\u2019 long-term objectives.
Changes in A decrease in corporate bond yields will increase the value placed on the DBO for
bond yields accounting purposes, although this will be partially offset by an increase in the value of the
Pension Schemes\u2019 bond holdings.
Inflation risk
A significant proportion of the DBO is indexed in line with price inflation and higher inflation
will lead to higher liabilities (although, in most cases, this is capped at an annual increase of 5%).
Life expectancy
The majority of the Pension Schemes\u2019 obligations are to provide benefits for the life of the
member, so increases in life expectancy will result in an increase in the liabilities.
There are a number of other risks of running the Pension Schemes including operational risks (such as paying out the wrong benefits), legislative risks (such as the Government increasing the burden on pension through new legislation) and other demographic risks, such as a higher proportion of members having a dependant eligible to receive a survivor\u2019s pension. Net pension asset The amounts included in the balance sheet arising from the Group\u2019s obligations in respect of the Pension Schemes are as follows:
2023 2022
\u00a3m \u00a3m
Fair value of Pension Scheme assets
552.7
555.6
Present value of funded obligations
(425.6)
(399.7)
Net pension asset
127.1
155.9
A deferred tax liability totalling \u00a336.9m (2022: \u00a345.2m) has been recognised on the balance sheet in relation to the net pension asset. Movements in the net pension asset on the balance sheet were as follows:
2023 2022
\u00a3m \u00a3m
As at 1 January
155.9
148.8
Total (loss)/gain recognised in the period
(29.2)
5.5
Company contributions paid in the period
0.4
1.6
As at 31 December
127.1
155.9
The Group has recognised a net pension asset on the basis that under the rules of the schemes any future surplus would be returnable to the Group by refund, assuming gradual settlement over the lifetime of the schemes. The Company does not present valuations of its own separate assets and liabilities under the Pension Schemes as the entire net assets of the Pension Schemes are included in the Company balance sheet, as ultimate scheme sponsor. The amounts recognised in the consolidated statement of comprehensive income are as follows:
2023 2022
\u00a3m \u00a3m
Current service cost
0.9
1.9
Administrative expense
0.6
0.6
Pension cost recognised as operating expense
1.5
2.5
Interest cost
18.8
11 . 3
Return on assets recorded as interest
(26.2)
(14.1)
Pension cost recognised as net finance credit
(7.4)
(2.8)
Total defined benefit pension credit recognised in profit or loss
(5.9)
(0.3)
Remeasurement loss/(gain) recognised in other comprehensive income
35.1
(5.2)
Total defined benefit scheme loss/(gain) recognised
29.2
(5.5)
The net remeasurement loss in the year of \u00a335.1m (2022: gain of \u00a35.2m) reflects the net effect of a loss in asset values of \u00a310.1m, and an increase in liability obligations of \u00a325.0m, largely arising from a decrease in discount rates. Assets The assets of the Pension Schemes have been calculated at fair value and are invested in the following asset classes:
2023 2022
\u00a3m \u00a3m
Equity
\u2013 UK
2.4
4.5
\u2013 US
10.8
26.5
\u2013 Eurozone
8.7
19.3
\u2013 Other
Bonds
4.9
14.1
\u2013 Government
321.2
397.4
\u2013 Sub-investment grade
115.5
4.9
Asset backed funding
20.0
24.1
Diversified growth fund
50.4
49.0
Cash
18.8
15.8
Total
552.7
555.6
All assets have a quoted market value in an active market, with the exception of asset backed funding of \u00a320.0m (2022: \u00a324.1m), which related to secured cash flows. The Persimmon Scheme holds 94% (2022: 94%) of the gross assets of the Pension Schemes and 94% (2022: 94%) of the gross liabilities. The remainder relates to the Prowting Scheme. The Pension Schemes do not engage in investments in complex financial assets such as insurance contracts or longevity derivatives. Changes in the fair value of scheme assets were as follows:
2023 2022
\u00a3m \u00a3m
As at 1 January
555.6
751. 9
Return on assets recorded as interest
26.2
14.1
Remeasurement losses on assets
(10.1)
(189.5)
Contributions
0.4
1.6
Benefits and expenses paid
(19.4)
(22.5)
As at 31 December
552.7
555.6
Defined benefit obligation The liabilities of the Pension Schemes, at each balance sheet date, have been calculated on the following financial assumptions:
2023 2022
% p.a. % p.a.
Discount rate
4.5
4.8
General pay increases
3.0
3.0
RPI inflation assumption
3.0
3.0
CPI inflation assumption
2.6
2.5
Post-retirement life expectancy for retirement aged members is as follows:
2023 2022
Years Years
Male current pensioner
22.1
22.6
Male future pensioner
22.9
23.3
The defined benefit obligation includes benefits for current employees, former employees and current pensioners. The following table provides an analysis of the defined benefit obligation by membership category:
2023 2022
\u00a3m \u00a3m
Total value of current employees\u2019 benefits
23.2
21. 5
Deferred members\u2019 benefits
161.3
139.6
Pensioner members\u2019 benefits
241.1
238.6
Total defined benefit obligation
425.6
399.7
The Pension Schemes\u2019 duration is an indicator of the weighted average time until benefit payments are made. For the Pension Schemes as a whole, the duration is around 12 years. Changes in the defined benefit obligation were as follows:
2023 2022
\u00a3m \u00a3m
As at 1 January
(399.7)
(603.1)
Current service cost
(0.9)
(1.9)
Interest cost
(18.8)
(11.3)
Remeasurement (losses)/gain on liabilities
(25.0)
194.7
Benefits paid
18.8
21. 9
As at 31 December
(425.6)
(399.7)
Sensitivities The key assumptions used for IAS 19 are: discount rate, inflation and mortality. If different assumptions were used, this could have a material effect on the results disclosed. The sensitivity of the results to these assumptions is as follows:
2023 2022
\u00a3m \u00a3m
Present value of defined benefit obligation (\u2018DBO\u2019)
425.6
399.7
\u2013 DBO following a 0.25% decrease in the discount rate
438.5
413.0
\u2013 DBO following a 0.25% increase in the discount rate
413.2
387.0
\u2013 DBO following a 0.25% decrease in the inflation assumption
418.6
392.9
\u2013 DBO following a 0.25% increase in the inflation assumption
4 31.7
406.4
\u2013 DBO following a 1 year decrease to life expectancy
409.1
386.5
\u2013 DBO following a 1 year increase to life expectancy
441.9
413.0
The sensitivity information shown above has been prepared using the same methodology as the calculation for the current DBO.", "dimensions": { "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-357": { "value": "
29 Partnership liability to the Persimmon Plc Pension & Life
Assurance Scheme
Persimmon Scottish Pension Trustees Limited, a wholly owned Group subsidiary, is general partner in Persimmon
Scottish Limited Partnership (the \u2018Partnership\u2019). Persimmon Pension Trustees Limited, the Trustee of the Persimmon Plc
Pension & Life Assurance Scheme (the \u2018Persimmon Scheme\u2019) is a limited partner. The Partnership is included in the
consolidated results of the Group. The Partnership has taken advantage of the exemptions in the Partnerships
(Accounts) Regulations 2008 not to file separate accounts on this basis.
The terms of the Persimmon Scheme\u2019s interest in the Partnership give the pension scheme obligatory rights to cash
returns but insignificant operational control over the Partnership. The interest has been classified as a financial liability
and is accounted for on an amortised cost basis. During the year the Group has made payments in relation to the
Partnership liability (including interest) totalling \u00a35.6m (2022: \u00a35.6m).
Under IAS 19 the Partnership interest of the Persimmon Scheme is included within the UK pension scheme assets.
For further details see note 28.
The Partnership is the beneficial owner of a bond secured on a proportion of the Group\u2019s shared equity loan receivables
and guaranteed by Persimmon Plc, which will support the Partnership investment return to the Persimmon Scheme.
", "dimensions": { "concept": "persimmonplc:DisclosureOfPartnershipLiabilityToThePersimmonPlcPensionAndLifeAssuranceScheme", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-356": { "value": "
30 Share-based payments
The Group operates a number of share option schemes, the details of which are provided below. All schemes were
equity settled.
The Savings-Related Share Option Scheme is an HMRC approved scheme open to all permanent employees.
Options can normally be exercised three years after the date of grant.
Options have been issued to senior management (including the Executive Directors) under the Group\u2019s various executive
share option schemes, which include awards under the Group\u2019s Long Term Incentive Plans. Future vesting of options is
dependent upon customer care, cash generation and TSR performance for options granted between 2019 and 2022
under the Persimmon Plc 2017 Performance Share Plan and on customer care, cash generation, TSR performance and
carbon reduction for options granted in 2023 under the Persimmon Plc 2017 Performance Share Plan.
Reconciliations of share options outstanding during each period, under each type of share scheme, are as follows:
2023 2022
Savings-Related Share Option Scheme Savings-Related Share Option Scheme
Number Weighted Number Weighted
of shares average exercise of shares average exercise
Group and Company under option price (p) under option price (p)
Outstanding at the beginning of the year
1,714,778
1,290.4
935,105
1,908.5
Granted during the year
1,620,573
818.4
1,266,190
1,080.0
Forfeited during the year
(1,100,963)
1,276.4
(448,958)
1,935.4
Exercised during the year
(587)
1,080.0
(37,559)
1,877.4
Outstanding at the end of the year
2,233,801
954.9
1,714,778
1,290.4
Exercisable at the end of the year
94,041
1,854.0
181,484
1,692.1
2023 2022
Bonus Share Bonus Share
Scheme Scheme
Number Number
of shares of shares
Group and Company under option under option
Outstanding at the beginning of the year
68,383
13,694
Granted during the year
109,937
69,798
Forfeited during the year
(36,915)
\u2014
Exercised during the year
\u2014
(15,109)
Outstanding at the end of the year
141,405
68,383
Exercisable at the end of the year
\u2014
\u2014
2023 2022
Buy Out Buy Out
Award Award
Number Number
of shares of shares
Group and Company under option under option
Outstanding at the beginning of the year
172,327
\u2014
Granted during the year
10,385
209,381
Forfeited during the year
(87,393)
\u2014
Exercised during the year
(17,227)
(37,054)
Outstanding at the end of the year
78,092
172,327
Exercisable at the end of the year
\u2014
\u2014
2023 2022
Long Term Long Term
Incentive Plan Incentive Plan
2012 * 2 0 12 *
Number Number
of shares of shares
Group and Company under option under option
Outstanding at the beginning of the year
\u2014
12,000
Forfeited/waived during the year
\u2014
(8,491)
Exercised during the year
\u2014
(3,509)
Outstanding at the end of the year
\u2014
\u2014
Exercisable at the end of the year
\u2014
\u2014
* Under 2012 LTIP grants the option exercise price is variable dependent on share price at the date of award and the performance condition,
being return of cash to shareholders post-grant date.
2023 2022
2017
Performance
2017
Performance
Share Plan Share Plan
Number Number
of shares of shares
Group and Company under option under option
Outstanding at the beginning of the year
2,481,222
1,770,343
Granted during the year
1,932,295
1,113,250
Forfeited during the year
(630,667)
(316,758)
Exercised during the year
(103,546)
(85,613)
Outstanding at the end of the year
3,679,304
2,481,222
Exercisable at the end of the year
1,127,391
386,479
The weighted average share price at the date of exercise for share options exercised during the period was 1,252.9p
(2022: 2,344.9p). The options outstanding at 31 December 2023 had a range of exercise prices from nil to 1,080.0p
and a weighted average remaining contractual life of 1.7 years (2022: 1.6 years).
The inputs into the Black Scholes option pricing model for options that were granted in the year were as follows:
PSP 2023 PSP 2023 SAYE
Option valuation assumptions Tranche 1 Tranche 2 2023
Grant date
2 May 2023
18 September 2023
5 October 2023
Risk free interest rate
3.66%
4.65%
4.43%
Exercise price
\u2014
\u2014
\u00a38.18
Share price at date of grant
\u00a313.87
\u00a310.30
\u00a310.27
Expected dividend yield*
0%
0%
6%
Expected life
2.9 years
2.5 years
3.16 years
Holding period
Nil**
Nil**
n/a
Date of vesting
10 March 2026
10 March 2026
1 December 2026
Expected volatility
32.4%
27.8%
27.8%
Fair value of option
\u00a312.48
\u00a39.45
\u00a30.93
* At the discretion of the Remuneration Committee a cash bonus may be paid to holders of 2021 PSP grants equivalent to the value of any
dividend which might have been paid on the shares held under option had those instead been issued. For purposes of valuation it has been
assessed that such a payout will be made and the forgone dividend yield assumption set to nil.
** A subset of PSP 2023 granted to Senior Management, including the Executive Board Directors, were restricted by an additional 2 year
holding period, with a reduced fair value resulting.
The expected life used in the model has been adjusted, based on best estimates, to reflect exercise restrictions and
behavioural considerations.
In 2023, the Group recognised total expenses before tax of \u00a34.5m (2022: \u00a39.0m) in relation to equity settled
share-based payment transactions in the consolidated statement of comprehensive income. These option charges have
been credited against the retained earnings reserve. As at 31 December 2023 the total credit recognised in relation to
equity settled share-based payments was \u00a326.3m (2022: \u00a323.4m) of which \u00a39.4m (2022: \u00a36.4m) related to options
currently vested awaiting exercise. All share-based payments are expensed by the Company.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-359": { "value": "31 Post balance sheet event On 26 February 2024, the Competition and Markets Authority (\u2018CMA\u2019) published its report on the Market Study into the housebuilding market which concluded that the complex and unpredictable planning system was \u201ca key driver of the under-delivery of new housing\u201d. The CMA also announced that it has opened an investigation into eight housebuilders under the Competition Act 1998 regarding the sharing of information. We will co-operate with the CMA on this investigation which is in its early stages at the date of this report and any potential impact is as yet unknown", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-358": { "value": "
32 Related party transactions
The Board and certain members of senior management are related parties within the definition of IAS 24 Related Party
Disclosures. Summary information of the transactions with key management personnel is provided in note 7. Detailed
disclosure of the individual remuneration of Board members is included in the Remuneration Report on pages 124 to
143. There is no difference between transactions with key management personnel of the Company and the Group.
The Company has entered into transactions with its subsidiary undertakings in respect of the following: internal funding
loans and provision of Group services (including senior management, IT, accounting, marketing, purchasing, legal and
conveyancing services). Recharges are made to subsidiary undertakings for Group loans, based on funding provided,
at an interest rate linked to average Group borrowing costs. No recharges are made in respect of balances due to or
from otherwise dormant subsidiaries. Recharges are made for Group services based on utilisation of those services.
During the year these recharges amounted to:
2023 2022
\u00a3m \u00a3m
Interest charges on intra-Group funding
(96.3)
(47.2)
Group services recharges
167.4
113.1
71.1
65.9
In addition to these services the Company acts as a buying agent for certain Group purchases, such as insurance.
These are recharged at cost based on utilisation by the subsidiary undertaking.
The amount outstanding from subsidiary undertakings to the Company at 31 December 2023 totalled \u00a32,040.4m
(2022: \u00a32,015.4m). Amounts owed to subsidiary undertakings by the Company at 31 December 2023 totalled
\u00a33,623.1m (2022: \u00a33,857.4m).
The Company provides the Group\u2019s defined benefit pension schemes. Current employer contributions are charged to
the operating businesses at cost. There is no contractual arrangement or stated policy relating to the net defined benefit
cost. Experience and remeasurement gains and losses are recognised in the Company.
The Company guarantees a bond issued from Persimmon Shared Equity Limited to Persimmon Scottish Limited
Partnership (both subsidiary undertakings). The fair value of the bond at 31 December 2023 is \u00a320.0m (2022:
\u00a324.1m).
Certain subsidiary undertakings have entered into guarantees of external bank loans and overdrafts of the Company.
The total value of such borrowings at 31 December 2023 was \u00a3nil (2022: \u00a3nil). The Company has entered into
guarantees over bank loans and borrowings of the subsidiary undertakings. The total value of such borrowings at
31 December 2023 was \u00a3nil (2022: \u00a3nil). The value of these guarantees in the year is assessed as insignificant.
The Company has suffered a \u00a3nil expense in respect of bad or doubtful debts of subsidiary undertakings in the
year (2022: \u00a3nil).
", "dimensions": { "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-360": { "value": "
33 Details of major Group undertakings
The Directors set out below information relating to the major subsidiary undertakings (those that principally affect the
profits and assets of the Group) of Persimmon Plc at 31 December 2023. All of these companies are registered in
England. All voting rights are held by companies within the Group. A full list of subsidiary undertakings and jointly
controlled entities can be found in note 34.
Major subsidiary undertakings
Persimmon Homes Limited\u00b0
Charles Church Developments Limited
Persimmon Holdings Limited*
Persimmon Shared Equity Limited**
Persimmon Scottish Limited Partnership***
\u2206
\u00b0 The shares of this company are held by Persimmon Holdings Limited and Persimmon Plc.
\u2206 The shares of this company are held by Persimmon Holdings Limited.
* The shares of this company are held by Persimmon Finance Limited and Persimmon Plc.
** The shares of this company are held by Persimmon Plc.
*** This entity is controlled by Persimmon Scottish Pension Trustees Limited (see note 28).
", "dimensions": { "concept": "persimmonplc:DisclosureOfDetailsOfMajorGroupUndertakings", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-410": { "value": "34 Details of all subsidiary undertakings Persimmon Group subsidiary companies The following companies, included in these consolidated accounts, are wholly owned by the Persimmon Group and are incorporated in the UK unless otherwise stated. Persimmon Plc or its subsidiary companies also hold all of the voting rights unless otherwise stated. The Registered Office for each company is Persimmon House, Fulford, York, YO19 4FE unless otherwise stated.
Name of undertaking
Description of shares held
@Home Limited
Ordinary* and 3.5% Preference*
A.E.A Prowting Limited
Ordinary*
A Monk & Company Developments (S.W.) Limited
Ordinary* and Deferred*
Name of undertaking
Description of shares held
Alford Brothers Limited
Ordinary*
Anjok 157 Limited
Ordinary*
Anjok 171 Limited Ordinary*
Anjok 172 Limited
Ordinary*
Anjok 173 Limited
Ordinary*
Anjok 269 Limited Ordinary* and Deferred*
Anjok 28 Limited
Ordinary* and 8% Preference*
Anjok 31 Limited
Ordinary*
Anjok Five (1996) Limited
Ordinary*
Anjok Holdings Limited
Ordinary* and Deferred*
Anjok Investments Limited
Ordinary*
Anjok Twenty Limited A Ordinary* and B Ordinary*
Anjok Two Limited
Ordinary*
Aria Homes Limited
A Ordinary* and B Ordinary*
Arthur S Nixon and Company
1% Non-Cumulative Preference* and Ordinary*
Aspect Homes Limited
Ordinary*
Atlantis One Limited
Ordinary* and Preference*
Beazer Group Limited
Ordinary*
Beazer Homes (Anglia) Limited
Deferred* and A Ordinary*
Beazer Homes (Barry) Limited
Ordinary*
Beazer Homes (FLE) Limited
A Ordinary* and B Ordinary*
Beazer Homes (FNLHS) Limited
Ordinary*
Beazer Homes (South Wales) Limited
Ordinary*
Beazer Homes (Wessex) Limited
Ordinary*
Beazer Homes and Property Limited
Ordinary*
Beazer Homes Bedford Limited
Deferred* and A Ordinary*
Beazer Homes Birmingham Central Limited
Deferred* and A Ordinary*
Beazer Homes Bridgwater Limited
Deferred* and A Ordinary*
Beazer Homes Bristol Limited
Deferred* and A Ordinary*
Beazer Homes Cardiff Limited
Deferred* and A Ordinary*
Beazer Homes Doncaster Limited
Deferred* and A Ordinary*
Beazer Homes Edinburgh Limited Deferred* and A Ordinary*
Beazer Homes Glasgow Limited Deferred* and A Ordinary*
1 1 1 1 1
Name of undertaking
Description of shares held
Beazer Homes Limited
Ordinary*, Deferred* and A Ordinary*
Beazer Homes Nottingham Limited
Ordinary*
Beazer Homes Reigate Limited
Ordinary*
Beazer Homes Stockport Limited
Deferred* and A Ordinary*
Beazer Homes Yateley Limited
Deferred* and A Ordinary*
Beazer London Limited
Ordinary*
Beazer Partnership Homes (Scotland) Limited Ordinary*
Beazer Partnership Homes Midlands Limited
Ordinary*
Beazer Swaffham Limited
Ordinary*
Beazer Urban Developments (Anglia) Limited
Deferred* and A Ordinary*
Beazer Urban Developments (Bedford) Limited
Ordinary*
Beazer Urban Developments (East Midlands) Limited
Ordinary*
Beazer Urban Developments (South West) Limited
Ordinary*
Beazer Western Engineering Services Limited
Ordinary*
Belsco 1020 Limited Ordinary*
Breakblock Limited
Ordinary*
Broomco (3385) Limited
Ordinary*
Bruce Fletcher (Leicester) Limited
Ordinary*
Charles Church Civil Engineering Limited
Ordinary*
Charles Church Developments Limited
Ordinary*
Charles Church Essex Limited
Ordinary*
Charles Church Estates Limited
Ordinary*
Charles Church Holdings plc
A Convertible Ordinary*, B Ordinary*, B Redeemable
Preference*, C Preference*, D Ordinary*, D Preference*,
Deferred*, E Deferred*, E Ordinary* and Preference*
Charles Church Housing Limited
Ordinary*
Charles Church Investment Properties Limited
Ordinary*
Charles Church Kent Limited
Ordinary*
Charles Church Limited
Ordinary*
Charles Church London Limited
Ordinary*
Charles Church Management Limited
Ordinary*
Charles Church Partnership Homes Limited
Ordinary*
Charles Church Residential Developments Limited
Ordinary*
1 1
Name of undertaking
Description of shares held
Charles Church South East Limited
Ordinary*
Charles Church Southern Limited
Ordinary*
Charles Church Thames Valley Limited
Ordinary*
Charles Church Trading Limited
Ordinary*
Charles Church Village Heritage plc
Ordinary*
Coatglade Limited
Ordinary*
Comben Group Limited
A Deferred Ordinary, B Deferred Ordinary and Ordinary
Cresswellshawe Properties Limited
Ordinary* and 3.5% Preference*
Crowther Homes (Darlington) Limited
Ordinary*
Crowther Homes (Midland) Limited
Ordinary*
Crowther Homes (Nat W) Limited
Ordinary*
Crowther Homes (Yarm) Limited
Ordinary*
Crowther Homes Limited
Ordinary*
D Dunk (Builders) Limited
Ordinary*
D R Dunthorn & Son Limited
Deferred*, Deferred* and Ordinary*
Datblygwyr Dorothea Limited (94% of nominal value owned)
Ordinary*
Delany Brothers (Housebuilders) Limited
Ordinary* and Preference*
Domus Group Limited
Deferred*, Deferred* and A Ordinary*
E.E. Reed & Co. (Builders) Limited
Ordinary*
E F G H Limited
Ordinary*
E F G H Nominees Limited
Ordinary*
Emerson Park Limited
Ordinary*
F C Spear Limited
Ordinary*
Ferry Quay Developments Limited
A Ordinary*, B Ordinary* and C Ordinary*
Flex Fibre Limited
Ordinary*
FibreNest Limited
Ordinary*
FibreScale Limited
Ordinary*
Frays Property Management (No.1) Limited
Ordinary*
Frays Property Management (No.2) Limited
Ordinary*
Frays Property Management (No.6) Limited
Ordinary*
Friary Homes Limited
Ordinary*
Galliford Developments Limited
Ordinary*
Name of undertaking
Description of shares held
Galliford Homes (London) Limited
A Ordinary* and B Ordinary*
Galliford Homes Holdings Limited
A Ordinary*, B Ordinary* and Preference*
Galliford Homes Limited
Ordinary*
Galliford Properties Southern Limited
Ordinary*
Galliford Southern Limited
Ordinary*
Geo. Wright & Co. (Contractors Wolverhampton) Limited
Deferred*, A Deferred* and A Ordinary*
Glamford Building Company Limited
Ordinary*
Gomersal Mills Limited
Deferred* and Ordinary*
Gosforth Business Park Management Company (No.2) Limited
Ordinary*
Haven Retirement Homes Limited
Ordinary*
Hazels Development Company Limited
A Ordinary* and B Ordinary*
Hillreed Developments Limited
Ordinary*
Hillreed Holdings Limited
Ordinary*, Management Shares* and Cumulative Preference*
Hillreed Homes Limited
Ordinary*
Hillreed Properties Limited
Ordinary*
Horsebridge Network Systems Limited
A Ordinary*
Ideal Developments Limited
Ordinary*
Ideal Homes (UK) Limited
Ordinary*
Ideal Homes Anglia Limited
Ordinary*
Ideal Homes Central Limited
A Non-Voting Ordinary* and B Ordinary*
Ideal Homes Holdings Limited
Deferred and Ordinary
Ideal Homes Limited
Ordinary*
Ideal Homes Midlands Limited
Ordinary*
Ideal Homes North West Limited
Ordinary*
Ideal Homes Northern Limited
Ordinary*
Ideal Homes Scotland Limited
Ordinary*
Ideal Homes Services Limited
Ordinary*
Ideal Homes Southern Limited
Ordinary*
J.W. Liptrot & Company Limited
Ordinary*
Jaboulet Limited
Ordinary*
John Maunders Group Limited
Ordinary*
Kenton Contracting (Yorkshire) Limited
Ordinary*
Name of undertaking
Description of shares held
Kenton Contractors (Yorkshire) Limited
Ordinary*
Kenton Homes (Builders) Limited
Ordinary*
Kenton Homes (Developments) Limited
Ordinary*
Kenton Homes (Estates) Limited
Ordinary*
Knightsmoor Homes Limited
Ordinary*
Lady\u2019s Lane Property Co. Limited
Ordinary*
Lansdown Homes Limited
Ordinary*
Lazy Acre Investments Limited
Ordinary*
Leech Homes (Showhouses) Limited
Ordinary*, 0.1% Non-Cumulative Preference A* and 1%
Non-Cumulative Preference B*
Leech Homes (Wales) Limited
Ordinary*
Leech Homes (Yorkshire) Limited
Ordinary*
Leech Homes Limited
Deferred* and A Ordinary*
Leech Northumbria Limited
Ordinary*
Leech Partnership Homes Limited
Ordinary*
Leisurama Homes Limited
Ordinary*
Linkway Properties Limited
Ordinary*
Locking Castle Limited
A Ordinary*, B Ordinary* and C Ordinary*
Magnus Design Build Limited
Ordinary*
Magnus Holdings Limited
A Ordinary*, B Ordinary*, C Ordinary*, Enduring
Ordinary* and Cumulative Redeemable Preference*
Mapleleigh Limited
Ordinary*
Marriott Homes Limited
Ordinary*
Maunders Homes (East Anglia) Limited
Ordinary*
Maunders Homes (Midlands) Limited
Ordinary*
Maunders Homes (North West) Limited
Ordinary*
Maunders Homes (South) Limited
Ordinary*
Maunders Inner City Limited
Ordinary*
Maunders Urban Renewal Limited
Ordinary*
Mayclose Research Limited
Ordinary*
Melville Homes Limited
A Ordinary*, B Ordinary*, C Ordinary*, Deferred*
and Cumulative Redeemable Preference*
Name of undertaking
Description of shares held
Merewood (Kendal) Limited
Ordinary*
Merewood Group Limited
Ordinary*
Merewood Homes Limited
Ordinary*
Merewood Investments Limited
Ordinary*
Mightover Limited
Ordinary
Milton Keynes Housing Group Limited
Ordinary*
Mitrebuild Limited
Ordinary* and Deferred Ordinary*
Monk Homes Limited
Ordinary*
Monsell Youell Construction Limited
Ordinary*
Monsell Youell Limited
Deferred* and A Ordinary*
Montague Developments Limited
Ordinary*
Mount Row Finance Limited
Ordinary*
Mount Row Securities Limited
Ordinary*
NGP Management Company Residential (Cell C) Limited
2
Ordinary*
Pacemaker Developments Limited
Ordinary*
Park House Developments (Petersfield) Limited
Ordinary*
Partnership Homes Limited
Ordinary*
Pennant Developments Limited
Ordinary* and 5% Non-Cumulative Preference*
Pentra Limited
Ordinary*
Perlease Limited
Ordinary*
Persimmon (City Developments) Limited
Ordinary*
Persimmon (Eccleshall) Limited
Ordinary*
Persimmon (Share Scheme Trustees) Limited
Ordinary
Persimmon (SHL) Limited
Ordinary*
Persimmon (Strensall) Limited
Ordinary*
Persimmon Brickworks Limited
Ordinary*
Persimmon Developments (No 1) Limited
Ordinary*
Persimmon Developments (No 2) Limited
Ordinary*
Persimmon Developments (Didcot) Limited
Ordinary*
Persimmon Developments (No 5) Limited
Ordinary*
Persimmon Developments (No 6) Limited
Ordinary*
Persimmon Developments (No 7) Limited
Ordinary*
Name of undertaking
Description of shares held
Persimmon DN Limited (incorporated in Ireland) Ordinary*
Persimmon Finance (Jersey) Limited (incorporated in Jersey) Ordinary
Persimmon Finance (No 2) Limited
Ordinary
Persimmon Finance Limited
Ordinary
Persimmon Harts Limited
Ordinary
Persimmon GR (No 4) Limited
Ordinary*
Persimmon GR (No 11) Limited
Ordinary*
Persimmon GR (No 12) Limited
Ordinary*
Persimmon GR (No 13) Limited
Ordinary*
Persimmon GR (No 14) Limited
Ordinary*
Persimmon GR (No 15) Limited
Ordinary*
Persimmon GR (No 16) Limited
Ordinary*
Persimmon GR (No 17) Limited
Ordinary*
Persimmon Holdings Limited
Ordinary and A Ordinary*
Persimmon Homes (Anglia) Limited
Ordinary*
Persimmon Homes (Doncaster) Limited
Ordinary*
Persimmon Homes (East Midlands) Limited
Ordinary*
Persimmon Homes (East Scotland) Limited
Ordinary*
Persimmon Homes (East Yorkshire) Limited
Ordinary*
Persimmon Homes (Edmonstone) Limited
Ordinary
Persimmon Homes (Essex) Limited
Deferred* and A Ordinary*
Persimmon Homes (Lancashire) Limited
Ordinary*
Persimmon Homes (Mercia) Limited
Ordinary*
Persimmon Homes (Midlands) Limited
Ordinary*
Persimmon Homes (North East) Limited
Ordinary*
Persimmon Homes (North Midlands) Limited
Ordinary*
Persimmon Homes (North West) Limited
Ordinary*
Persimmon Homes (Partnerships) Limited
Ordinary
Persimmon Homes (South Coast) Limited
Ordinary*
Persimmon Homes (South East) Limited
Ordinary*
Persimmon Homes (South Midlands) Limited
Deferred* and A Ordinary*
Persimmon Homes (South West) Limited
Ordinary*
3
4
Name of undertaking
Description of shares held
Persimmon Homes (South Yorkshire) Limited
Ordinary*
Persimmon Homes (Teesside) Limited
Ordinary*
Persimmon Homes (Thames Valley) Limited
Ordinary*
Persimmon Homes (Wales) Limited
Ordinary*
Persimmon Homes (Wessex) Limited
Ordinary*
Persimmon Homes (West Midlands) Limited
Deferred* and A Ordinary*
Persimmon Homes (West Scotland) Limited
Ordinary*
Persimmon Homes (West Yorkshire) Limited
Ordinary*
Persimmon Homes (Woodley) Limited
Ordinary
Persimmon Homes (York) Limited
Ordinary
Persimmon Homes (Yorkshire) Limited
Deferred* and Ordinary*
Persimmon Homes Developments Limited
Ordinary
Persimmon Homes Limited
Ordinary*
Persimmon Partnerships (Scotland) Limited
Ordinary*
Persimmon Pension Trustees Limited
Ordinary
Persimmon Residential Limited
Ordinary*
Persimmon SC (No 1) Limited
Ordinary*
Persimmon SC (No 2) Limited
Ordinary*
Persimmon SC (No 3) Limited
Ordinary*
Persimmon SC (No 4) Limited
Ordinary*
Persimmon SC (No 5) Limited
Ordinary*
Persimmon SC (No 6) Limited
Ordinary*
Persimmon Scottish Limited Partnership** n/a
Persimmon Scottish Pension Trustees Limited Ordinary
Persimmon Shared Equity Limited
Ordinary
Persimmon Tileworks Limited
Ordinary*
Persimmon Trustees Limited
Ordinary
Pinnacle Developments (Scotland) Limited Ordinary*
Practical Finance Co. Limited
Ordinary*
Prowting Homes Anglia Limited
B Ordinary*, C Ordinary* and D Ordinary*
Prowting Homes Central Limited
Ordinary*
1 1 1
Name of undertaking
Description of shares held
Prowting Homes Chatsworth Limited
Ordinary*
Prowting Homes Limited
Ordinary*
Prowting Homes Ludlow Limited
Ordinary*
Prowting Homes Midlands Limited
Ordinary*
Prowting Homes South East Limited
Ordinary*
Prowting Homes South West Limited
Ordinary*
Prowting Homes West Limited
Ordinary*
Prowting Homes Wolds Limited
Ordinary*
Prowting Limited
Ordinary*
Prowting Projects Limited
Ordinary*
Prowting Properties Limited
Ordinary*
Repac Homes Limited
Ordinary*
SLB Construction Management Limited
Ordinary*
Second City Homes Limited
Deferred* and A Ordinary*
Senator Homes Limited
Ordinary*
Sequoia Developments Limited
Ordinary*
Severnbrook Homes Limited
Ordinary*
Sherbourne Properties (Warwick) Limited
Ordinary*
Space4 Limited
Ordinary*
Springfir Estates Limited
Ordinary*
Springfir Holdings Limited
Ordinary*
Steelhaven (7) Limited
Ordinary* and 1% Non-Cumulative Redeemable
Participating Preference*
Tamborough Developments Limited
Ordinary*
Tela Properties Limited
Ordinary*
The Charles Church Group Limited
A Ordinary*
The Charles Church Group Share Trustees Limited
Ordinary*
Townedge (Holdings) Limited
Ordinary*
Townedge Estates Limited
Ordinary*
Trent Park Regeneration Limited
A Ordinary* and B Ordinary*
Tryall Developments Limited
Ordinary*
Name of undertaking
Description of shares held
Tudor Jenkins & Company Limited
Ordinary*
Walker Homes (Scotland) Limited Ordinary*
Wardour Limited (Incorporated in Gibraltar) Ordinary*
Wenshaw Limited
Ordinary*
Wescott Holdings Limited
Ordinary*
Wescott Homes Limited
Ordinary*
Wescott Land Limited
Ordinary*
Westbury Direct Limited
Ordinary*
Westbury Homes (Holdings) Limited
Irredeemable Preference*, Ordinary*, Deferred*
and 9.25% Preference*
Westbury Homes (Midlands) Limited
Ordinary*
Westbury Homes (Oval) Limited
Ordinary*
Westbury Homes (Severnside) Limited
Ordinary*
Westbury Homes (Somerset) Limited
Ordinary*
Westbury Homes (South West) Limited
Ordinary*
Westbury Homes (Stadium) Limited
Ordinary*
Westbury Homes (Venymore) Limited
A Ordinary* and B Ordinary*
Westbury Homes (Wales) Limited
Ordinary*
Westbury Homes (West Midlands) Limited
Ordinary*
Westbury Homes Limited
Ordinary*
Westbury Housing Investments Limited
Ordinary*
Westbury Limited
Ordinary
William Leech Builders (North West) Limited
Ordinary*
William Leech Limited
Ordinary* and 6.5% Cumulative Preference*
1 5 Joint arrangements
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Beechpath Limited
Ordinary
50%
50%
Bentwaters Housing Limited
Ordinary
50%
50%
Bentwaters Nominees Limited
Ordinary
50%
50%
Coton Park Consortium Limited
WD
50%
25%
6
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Cramlington Developments Limited
A Ordinary
100%
50%
Genesis Estates (Manchester) Limited
Ordinary
50%
50%
Gosforth Business Park Management Company Limited
A Ordinary
100%
33.3%
Haydon Development Company Limited
Ordinary
20.5%
20.5%
Leebell Developments Limited
A Ordinary
100%
50%
Newcastle Great Park (Estates) Limited
A Ordinary
100%
50%
North Haven Developments (Sunderland) Limited
B Ordinary
100%
50%
North Swindon Development Company Limited
Ordinary
15 %
15 %
Oxfordshire Land Limited
Ordinary
33.3%
33.3%
Quedgeley Urban Village Limited
C Ordinary
100%
25%
Rothley Temple Estates Limited
Ordinary
28.5%
28.5%
Sociedade Torre de Marinha Realizacoes Turisticas SA
(incorporated in Portugal)
Ordinary
50%
50%
Trafalgar Metropolitan Homes Limited
A Ordinary
100%
50%
Triumphdeal Limited
Ordinary
50%
50%
Wick 3 Nominees Limited
B Ordinary
100%
33.3%
7 8 2 8 9 10 11 12 The Group also has an investment in TopHat Enterprises Limited. * Share class held by another Group company, but ultimately held by Persimmon Plc. ** A Scottish Limited Partnership. 1. 180 Findochty Street, Garthamlock, Glasgow, G33 5EP 2. 3rd Floor Citygate, St. James\u2019 Boulevard, Newcastle upon Tyne, Tyne & Wear, NE1 4JE 3. 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland 4. 44 Esplanade, St Helier, JE4 9WG, Jersey 5. 3 Bell Lane, Gibraltar 6. The Office, 12 Westfield Close, Gravesend, Kent, DA12 5EH 7. 6 Europa Court, Sheffield Business Park, Sheffield, S9 1XE 8. 6 Drakes Meadow, Penny Lane, Swindon, Wiltshire, SN3 3LL 9. 250 Aztec West, Almondsbury, Bristol, BS32 4TR 10. 137 Scalby Road, Scarborough, North Yorkshire, YO12 6TB 11. Av. Duque de Loul\u00e9 47-2, 1050-086, Lisbon, Portugal 12. Gate House, Turnpike Road, High Wycombe, Buckinghamshire, HP12 3NR Resident Management Companies The companies listed below are Resident Management Companies (\u2018RMCs\u2019) currently controlled by the Group. Control is exercised by the Group\u2019s power to appoint Directors and the Group\u2019s voting rights in these companies. All RMCs are companies limited by guarantee without share capital (unless otherwise stated) and incorporated in the UK. The capital, reserves and profit or loss for the year have not been stated for these RMCs as beneficial interest in any assets or liabilities of these companies is held by the residents. These companies have not been included in the consolidated accounts, are temporary members of the Group and will be handed over to residents in due course. The Registered Office of each RMC is Persimmon House, Fulford, York, YO19 4FE (unless otherwise stated). Company name Abbey Green (Amesbury) Management Company Limited Abbeyvale Taunton Management Company Limited1 Abbot Walk (Chatteris) Residents Management Company Limited Ackton Pastures (Castleford) Management Company Limited Agusta Park Flats Yeovil Management Company Limited Agusta Park Yeovil Management Company Limited Amberwood (Carlisle) Management Company Limited Amblehurst Green (Billingshurst) Management Company Limited2 Arisdale (Phase 2) Residents Management Company Limited Arnold Way (Grove) Management Company Limited Arnold Way No. 2 (Grove) Management Company Limited Arnold Way No. 3 (Grove) Management Company Limited Ashworth Place (Phase 2) Management Limited Augusta Park (Dinnington) Management Company Limited Avalon (Mansfield) Management Company Limited3 Aveley Village (Thurrock) Management Company Limited Avon Fields (Durrington) Management Company Limited Awel Afan (Port Talbot) Management Company Limited Awel Y Mynydd (Pembrey) Management Company Ltd Aykley Woods (Durham) Management Company Limited Aylesham Village Phase 1B (Aylesham) Residents Management Company Limited Aylesham Village Phase 2 (Aylesham) Residents Management Co Ltd Aylesham Village Phase 2B And 2C (Aylesham) Residents Management Company Limited Backbridge (Malmesbury) Management Company Limited Badbury Park (Swindon) Management Company Limited Badbury Park (Swindon) No 2 Management Company Limited Badbury Park (Swindon) No 3 Management Company Limited Bannerbrook Management Company Limited4 Bannerbrook Park Phase II (Coventry) Management Company Limited Barber Court (Birmingham) Management Company Limited Barrington Park Management Company Limited 5 Barry Waterfront Residents Management Company Limited6 Beauchamp Grange (Caister) Residents Management Company Limited Beckets Grove Management Company Limited Beckets Grove Phase 2 (Wymondham) Residents Management Company Limited Beckford Road (Alderton) Management Company Limited Bedale Meadows Management Company Limited 7 Bell Lane (Little Chalfont) Management Company Limited Bells Hill Management Company Limited 8 Birchwood Manor (Wardley) Residents Management Company Limited Bishops Green (Coundon) Management Company Limited Bishops Mead (Lydney) Management Company Limited Bishops Meade (Downton) Management Company Limited Bluebell Meadow (Bradwell) Management Company Limited Bluebell Wood (Willenhall) Management Company Limited9 Bootham Crescent (York) Residents Management Company Limited Boulton Moor (Derby) Properties Limited Boyton Place (Haverhill) Residents Management Company Limited Brackenleigh (Carlisle) Management Company Limited Bradley Barton View Management Company Limited Bramble Rise (Hetton) Management Company Limited Bramblewood (Old Basing) Residents Management Company Limited6 Branshaw Park (Keighley) Management Company Ltd Bridgefield (Ashford) Management Company Limited Bridgefield Nine Management Company Limited Brindle Park (Bamber Bridge) Management Company Limited8 Broadway (Rainham) Residents Management Company Limited Brockeridge Road (Twyning) Resident Management Company Limited1 Brookfield (Golborne) Management Company Limited5 Broomhill View (Togston) Residents Management Company Limited Buckton Place (Leiston) Residents Management Company Limited Bugbrooke Road (Kislingbury) Management Company Limited11 Burfield Valley Estate Management Limited12 Buttercup Leys (Boulton Moor) Residential Management Company Limited Buzzard Meadows (Leighton Buzzard) Residents Management Company Limited13 Calder Grange (Dewsbury) Management Company Limited Canalside (Burton Upon Trent) Residential Management Company Limited Canonbury Rise (Berkeley) Management Company Limited Carleton Meadows Management Company Limited Carn Y Cefn RMC Ltd14 Carpenters Field (Denmead) Management Company Limited
Castellum Grange (Colchester) Residents Management Company Limited
Castle Hill (Cottingham) Management Company Limited
Castle Park (West Durrington) Management Company Limited
Castle View (Netherton) Management Company Limited
Castlemead (953) Trowbridge Management Company Limited
Castlemead (Persimmon 950) Town Trowbridge Limited
Castlemead (Persimmon 964) Town Trowbridge Limited
Castleton Court (Haverfordwest) Management Company Limited
Cathedral Court (Salisbury) Management Company Limited
Cathedral Gate (Salisbury) No.2 Management Company Limited
6
Cathedral View (Durham) Management Company Limited
Cayton Meadows (Scarborough) Management Company Limited
Century Rise (Emersons Green) Management Company Limited
Chancery Park (Exning) Residents Management Company Limited
Charlton Place (Keynsham) Management Company Limited
Chaucers Meadow (North Petherton) Management Company Limited
Chilmark Glade Management Company Limited
Chorley G 1 Management Company Limited
8
Church Lane (Deal) Residents Management Company Limited
Clarence Place (Bracknell) Residents Management Company Limited
Cloatley Cresent Management Company Limited
Clock Tower (Wolverhampton) Management Company Limited
8
Clos Ty Gwyn (Hendy) Management Company Limited
Clover Chase (Lingwood) Residents Management Company Limited
Coastal Dunes (Lytham St Annes) Management Company Limited
Coatham Vale and Berrymead Gardens Residents Management Company Limited
7
Coed Darcy (Llandarcy) Management Company Limited
College Park (Thurston) Residents Management Company Limited
Colliers Walk (Nottingham) Management Company Limited
8
Colonial Wharf (Chatham) Residents Management Company Limited
Coopers Grange (Bishops Stortford) Resident Management Company Ltd
8
Copperfield Place (Chelmsford) Residents Management Company Limited
Copperfield Truro Management Company Limited
Coquet Grange (Amble) Management Company Limited
Corelli Sherborne Management Company Limited
Cote Farm (Thackley) Management Company Limited
Coton Park (Rugby) Management Company Limited
Cotswold Vale (Long Marston) Management Company Limited
1
Coverdale Paignton Management Company Limited
1
Crofton Walk (Fair Oak) Management Company Limited
Cromwell Gardens (Huntingdon) Residents Management Company Limited
Cromwell Place (Little Dunmow) Residents Management Company Limited
Crosland Road (Lindley) Management Limited
15
Cross Quays (Westwood) Management Company Limited
Cross Quays Phase 2 (Thanet) Residents Management Company Limited
Cumnor Hill Management Company Limited
Cwrt Y Llwyfen (Johnstown) Management Company Limited
Cygnet Grange (Swanmore) Residents Management Company Limited
Daisy Hill (Morley) Management Company Limited
Daisy\u2019s View (Burbage) Management Company Limited
Dan Y Bryn Management Company Limited
Dartford Bow Arrow (Management Company) Limited
16
De Vere Grove (Colchester) Residents Management Company Limited
Deerwood Park (Colne) Management Company Limited
Dol Yr Ysgol (Bridgend) Management Company Limited
Douglas Gardens (Hesketh) Management Company Ltd
8
Downs View (Swanley) Residents Management Company Limited
Dukes Meadow (Tangmere) Management Company Limited
D\u2019urton Heights (Preston) Management Company Limited
Earlesmead (Framingham Earl) Residents Management Company Limited
East Benton Rise (Benton) Management Company Limited
Eclipse House (Andover) Management Company Limited
Edinburgh Park (Liverpool) Management Company Limited
8
Eldon Whins (Middridge) Management Company Limited
7
Elkas Rise (Ilkeston) Management Company Limited
Ellesmere Park (The Oaks) Management Company Limited
5
Ellis Mews (Micheldever) Management Company Limited
12
Elm Farm (Wymondham) Residents Management Company Limited
Elm Rise (Birtley) Residents Management Company Limited
Emily Fields (Swansea) Management Company Limited
Eton Place (Bracknell) Management Company Limited
Eve Parc (Falmouth) Management Company Limited
Fair Mile Rise (Blandford St Mary) Management Company Limited
Fairfax Mews Crediton Management Company Limited
1
Fairmoor (Morpeth) Management Company Limited
Fairways (Retford) Management Company Limited
Fallow (Benton) Residents Management Company Limited
Farley Fields South Petherton Management Company Limited
1
Fatherford View (Okehampton) Management Company Limited
Festival Park (Easton) Residents Management Company Limited
Fiddington Fields (Tewkesbury) Management Company Limited
Field Place (Faversham) Management Company Limited
16
Fishpool Hill Bristol Management Company Limited
Fleckney Road Management Company Limited
Flint Grange (Clacton) Residents Management Company Limited Foley Gardens (Newent) Residential Management Company Limited1 Folly Grove (Hockley) Residents Management Company Limited Forest View (Calverton) Management Company Limited Forge Wood (Crawley) Management Company Limited17 Foundry Meadows (Bexhill) Residents Management Company Limited Foxes Chase (Anlaby) Residents Management Company Limited Foxfields (Stoke-On-Trent) Management Company Limited6 Foxley Park (Dereham) Residents Management Company Limited Garden Valley (Aylesham) Residents Management Company Limited12 Garendon Park Residents Management Company Ltd George Ward Gardens (Melksham) Management Company Limited Germany Beck (Fulford) Management Company Limited Gilden Park (Old Harlow) Resident Management Company Limited 8 Gipping Mill (Great Blakenham) Residents Management Company Limited Glan Yr Afon (Swansea) Management Company Limited Golwg Y Glyn (Fforest) Management Company Limited 6 Golwg Y Mynydd (Mountain Ash) RMC Ltd14 Gotherington Grange Resident Management Company Limited Grange Paddocks (Stanway) Residents Management Company Limited Grangewood Park (Burnham On Crouch) Residents Management Company Limited Grays Court (Orpington) Residents Management Company Limited12 Great Western Park (Didcot) No 1 Management Company Limited Great Western Park (Didcot) No 2 Management Company Limited Great Western Park (Didcot) No 3 Management Company Limited Great Woodcote Park Exeter Management Company Limited Greenacres (Easington) Management Company Limited Greenfields (Narberth) Management Company Limited Greetwell Fields (Lincoln) Residents Management Company Limited Griffin Wharf (Ipswich) Residents Management Company Limited Grove Street (Raunds) Residents Management Company Limited Hailes Wood (Elsenham) Residents Management Company Limited Hamilton Gate (Frinton) Residents Management Company Limited Hampton Gardens Phase 3 (Peterborough) Residents Management Company Ltd Hampton Park (Littlehampton) Residents Management Company Limited Hansons Reach (Stewartby) Residents Management Company Limited Hanwell Chase (Banbury) Residents Management Company Limited Harbourside View (Portchester) Management Company Limited Harbury Lane (Warwick) Management Company Limited Hardings Wood (Kidsgrove) Residents Management Company Limited5 Harebell Meadows And Hartburn Grange Residents Management Company Limited5 Harford Mews Ivybridge Management Company Limited1 Harlands Park (Uckfield) Residents Management Company Limited Harlow Fields (Mackworth) Residential Management Company Limited Harlow Hill Grange (Harrogate) Management Company Limited Harpur Hill (Buxton) Residents Management Company Limited5 Harrow View West (Harrow) Residents Management Company Limited Hartley Grange (Whittlesey) Residents Management Company Limited Hartnells Farm Management Company Limited Hastings Place (Bentley) Management Company Limited Hatchwood Mill (Winnersh) Management Company Limited Hatfield Lane Armthorpe Management Company Limited7 Hathern Road (Shepshed) Management Company Limited1 Hauxley Grange (Amble) Residents Management Company Limited Hawthorn Chase (Aston Clinton) Residents Management Company Limited Hawthorne Farm (Clitheroe) Management Company Limited5 Haywards Gardens (Kegworth) Man Co. Limited18 Haywood Heights (Writhlington) Management Company Limited Hazelmere (Flockton) Management Company Limited Heathfield Gardens (Phase 7) Management Company Limited Heathpark Wood (Windlesham) Management Company Limited Hellingly 415 Residents Management Company Limited Hellingly 416 Management Company Limited Hellingly 418 Management Company Limited Hepburn Chase Management Company Limited1 Heritage Gate (Llantwit Major) Residents Management Company Limited Heritage Green (Newbottle) Management Company Limited19 Heritage Park (Shinfield) Residents Management Company Limited Heritage Park (Sutton Courtenay) Residents Management Company Limited Herne Vale Ilminster Management Company Limited Herons Park (Angmering) Management Co Ltd Herrington Grange (Philadelphia) Management Company Limited Hethersett Residents Management Company Limited8 Heugh Hall (Coxhoe) Residents Management Company Limited Higham Lane Management Company Limited Highfield Farm (West Melton) Residents Management Company Limited Highland Park Estate Management Company Limited* 20 Hill Barton Vale Exeter Management Company Limited Hill Barton Vale Flats Exeter Management Company Limited Hillfield Meadows (Sunderland) Management Company Limited Hillies View (Wombwell) Management Company Limited Holdingham Grange (Sleaford) Residents Management Company Limited Holly Fields (Birmingham) Management Company Limited Homington Avenue (Swindon) Local Centre Management Company Limited
Honours Meadow (Rendlesham) Residents Management Company Limited
Horsbere Mews (Longford) Management Company Limited
21
Horseshoe Meadows (Westbury) Management Company Limited
HRC (Ware) Residents Management Company Limited
Hunters Edge (Eaglescliffe) Residents Management Company Limited
Hurdle Court (Andover) Management Company Limited
Hydro (St Neots) Number One Management Company Limited
Ingleby (Barwick) Management Company Limited
Iwade Meadows (Iwade) Management Company Limited
Iwade Meadows (Yalding Apartments Plots 74-79) Management Company Limited
Jasmine Gardens Management Company Limited
Jubilee Gardens (Warminster) Management Company Ltd
Jubilee Rise (Shepshed) Management Company Limited
Kenilworth Gate Management Company Limited
Kennedy Place (Ulverston) Management Company Limited
Kings Grove Cranbrook Management Company Limited
Kingsbridge Court (Gorseinon) Management Company Limited
Kingsbury Gardens (St Albans) Residents Management Company Limited
Kingsbury Meadows (Wakefield) Management Company Limited
Kingsmead (Gloucester) Management Company Limited
Knights Court (Old Sarum) Management Company Limited
Knightswood Place (Rainham) Residents Management Company Limited
Ladgate Woods (Middlesbrough) Management Company Limited
Lakedale Whiteley Meadows (North Whiteley) Management Company Limited
Lakeside Edge (Peterborough) Residents Management Company Limited
Lambourn Meadow (Thatcham) Management Company Limited
22
Laneside (Morley) Residents Management Company Limited
Larkbear Management Company Limited
6
Lauder Mews Crediton Management Company Limited
Launds Field (Galgate) Management Company Limited
Laureate Heights Sidmouth Management Company Limited
Lavender Fields (South Wootton) Residents Management Company Ltd
Lime Tree Court Derby Management Company Limited
Limes Place (Upper Harbledown) Residents Management Company Limited
Lindale Park (Alverthorpe) Management Company Limited
Lindley Moor Meadows (Huddersfield) Management Company Limited
Lingfield Meadows (Houghton) Management Company Limited
Llanilid Management Company Limited
Llanilltern Apartments RMC Ltd
14
Llanilltern Village RMC Ltd
14
Llys Ystrad (Bridgend) Management Company Limited
23
Lodmoor Sands (Weymouth) Management Company Limited
6
Longbridge Place (Longbridge) Management Company Limited
Longleaze Management Company Limited
Low Moor Meadows (Morley) Management Company Limited
Low Street (Sherburn In Elmet) Management Company Limited
19
Lowen Bre Truro Management Company Limited
Lucknam Crescent (Swindon) Management Company Limited
Lythalls Lane (Coventry) Management Company Limited
21
Maes Dyfed Management Company Limited
Maes Y Parc (Cross Hands) Management Company Limited
Maes Y Rhos (Ystradgynlais) Management Company Limited
Maiden Vale (Ryhope) Management Company Limited
Malvern Rise (Malvern) Management Company Limited
Malvern Vale (Malvern) Management Company Limited
21
Manor Farm (Doncaster) Management Company Limited
Manor Farm (Micklefield) Management Company Limited
Manor Gardens (Selsey) Management Company Limited
Manor Park Sprowston Residents Management Company Limited
8
Manor Place (Maidenhead) Residents Management Company Limited
Manor Vale Residents Management Company Limited
11
Maple (129) Limited
22
Maple Oak (Alton) Management Company Limited
6
Mariners Walk (Swansea) Apartment Management Company Limited*
Mariners Walk (Swansea) Management Company Limited*
Marshfoot Lane (Hailsham) Residents Management Company Limited
Martello Park (Pembroke) Management Company Limited
Martineau Gardens Harborne Management Company Limited
9
Mascalls Grange (Paddock Wood) Residents Management Company Limited
Meadow View (Oundle) Management Company Limited
Meadow View (Redditch) Resident Management Company Limited
21
Meon Way Gardens Management Company Limited
21
Merchants Walk Cullompton No 2 Management Company Limited
Mercians Place Management Company Limited
21
Meridian Place (Hertford) Residents Management Company Ltd
Merlins Lane (Scarrowscant) Management Company Limited
Mersey View (Bromborough Pool) Management Company Limited
24
Mill Gardens (Cullompton) Management Company Limited
Mill Valley (Pevensey) Residents Management Company Limited
Mill View (Willingdon) Management Company Limited
Millbeck Grange (Bowburn) Management Company Limited
Millennium Farm (New Waltham) Management Company Limited
Monkswood (Sacriston) Management Company Limited
Montague Park Residents Management Company Limited
25
Montfort Place (Odiham) Management Company Limited8 Moorfield (Easington) Management Company Limited Moorfield Park Management Company Limited8 Moorlands Walk (Sherburn) Management Company Limited Mulberry Grange (Castleford) Management Company Limited Mulberry Grove (St Fagans Cardiff) Management Company Limited Nelson\u2019s Park (North Walsham) Residents Management Company Limited NGP Management Company (Cell E) Limited*10 NGP Management Company (Cell F) Limited*10 NGP Management Company (Commercial) Limited*10 NGP Management Company (Town Centre) Limited*10 NGP Management Company Residential (Cell G) Limited*10 Oak Heights (Northiam) Residents Management Company Limited12 Oak Tree Gardens (Audley) Management Company Limited15 Oakcroft Chase (Stubbington) Management Company Limited Oakhurst Village (Shirley) Management Company Limited Oakland Gardens (Wilthorpe) Management Company Limited Oakwood Meadows (Colchester) Residents Management Company Limited Oakwood Meadows Phase 4 (Stanway) Residents Management Company Limited Oakwood Park (Wymondham) Residents Management Company Limited Oakwood View (Brackla) Management Company Limited Oakwood View (Weston-Super-Mare) Management Company Limited Oast Court Farm Management Company Limited26 Old Road (Churwell) Management Company Limited Open Space Management Limited15 Orchard Croft (Diss) Residents Management Company Limited Orchard Grove (Coxheath) Residents Management Company Ltd Orchard Manor (Cheddington) Residents Management Company Limited Orchard Meadows (Iwade) Residents Management Company Limited Orchard Mews Pershore Management Company Limited21 Otterham Park (Rainham) Residents Management Company Limited Oxley Springs (Milton Keynes) Management Company Limited Oxley Springs 8B (Milton Keynes) Management Company Limited Paddocks 21 (Andover) Management Company Limited Palmerston Heights Plymouth Management Company Limited Paragon Park (Coventry) Management Company Limited Parc Brynderi (Llanelli) Management Company Limited Parc Yr Onnen (The Limes) Management Company Limited Park Farm (South East) Management Company Limited 27 Parklands (Hessle) Residents Management Company Limited Parklands (Maidstone) Management Company Limited27 Parrett Gardens (Langport) Management Company Limited Pavilion Gardens (Monkton Heathfield) Management Company Limited Pedlars Meadow (Swaffham) Residents Management Company Limited Pembridge Court (Clehonger) Residents Management Company Limited21 Penny Pot Lane (Harrogate) Management Company Limited7 Perry Park View (Perry Barr) Management Company Limited 21 Persimmon Gardens (Hindley) Management Company Limited5 Persimmon Gardens (Martham) Residents Management Company Limited Persimmon Grange Framlingham Residents Management Company Limited Persimmon Homes The Oaks (Selly Oak) Management Company Limited 21 Phoenix Park (Dunstable) Residents Management Company Limited Phoenix Wharf (West Bromwich) Management Company Limited21 Picket 20 Management Company Limited Picket Twenty Two (Andover) Management Company Limited Porth Y Dyffryn (Merthyr Tydfil) Residents Management Company Limited Portland Park (Ashington) Management Company Limited Pottery Gardens (Cheadle) Residents Management Company Limited5 Priory Meadows (Bodmin) Management Company Limited Quantock View Management Company Limited Quinta Mews Management Company Limited28 Rackheath Residents Management Company Limited Radstone Road (Brackley) Management Company Limited Rainton Gardens (Chilton Moor) Management Company Limited Rainton Meadows (Chilton Moor) Management Company Limited19 Ramsdell (Ashford Hill) Management Company Limited Rectory Lane (Standish) Management Company Limited Redhayes Management Company Limited29 Redland Grange (Cottenham) Residents Management Company Limited Regent Park (Calne) Management Company Limited Regents Place (Chellaston) Management Company Limited21 Repton Park 18 (Ashford) Residents Management Company Limited Repton Park 19-23 (Ashford) Residents Management Company Limited Repton Park 8 & 10 (Ashford) Residents Management Company Ltd Rivendell (Gedling) Management Company Limited Riverbourne Fields Management Company Limited Rose Manor (Hadleigh) Residents Management Company Limited Roseberry Park (Pelton) Management Company Limited Salterns (Terrington) Residents Management Company Limited Saltram Meadow Plymouth Management Company Limited Samford Gardens (Capel St Mary) Residents Management Company Limited Sandfield Walk (Nottingham) Management Company Limited Sandgate Drive (Kippax) Management Company Limited Sandpipers (Minster) Residents Management Company Limited Saxon Fields (Bridgwater) Management Company Limited Saxon Grange (Shaftesbury) Management Company Limited Saxon Grove (Purton) Management Company Limited Saxon Meadow (Sutton On Trent) Residents Management Company Limited Saxons Chase (Headcorn) Residents Management Company Limited Scarlett Mews (Tiptree) Residents Management Company Limited Scholar\u2019s Green (Northampton) Residents Management Company Limited11 Seaside Lane (Easington) Management Company Limited Seaton Vale (Ashington) Residents Management Company Limited Sharpes Meadow (Heybridge) Residents Management Company Limited Sherborne Fields (Basingstoke) Management Limited Sherborne Fields Apartments Ph6 (Basingstoke) Management Company Limited Shilton Place (Coventry) Management Company Ltd30 Shirewood (Beighton Road) Management Company Limited Silver Hill (Preston) Management Company Limited Silverwood (Garforth) Management Company Limited Solway View (Workington) Management Company Limited Sonnet Park (Stratford) Management Company Limited1 Sovereign Quarter (Gillingham) Management Company Limited Speckled Wood (Carlisle) Management Company Limited Spring Meadows (Darwen) Management Company Limited 8 St Andrews (Uxbridge) Management Company Limited21 St Andrews Park (Phase 3C Uxbridge) Management Company Limited 31 St Andrews Park (Vine Lane 1A) Management Company Limited21 St Andrews Park (Vine Lane 2A) Management Company Limited 21 St Andrews Park 2B/3A (Churchill Road, Uxbridge) Management Company Limited21 St Andrews Park 3B (Uxbridge) Management Company Limited21 St Andrews Ridge (Swindon) Management Company Limited St Dunstans Place (Burbage) Management Company Limited St Edeyrns Apartments (Cardiff) RMC Limited St Edeyrns Village (Cardiff) Residents Management Company Limited St Edmunds (Frome) Management Company Limited St George (Lancaster) Management Company Limited St Georges Keep Management Company Limited St James Park (Bramley) Residents Management Company Limited St Johns (Lichfield) Management Company Limited St Michaels Place (Colchester) Residents Management Company Limited St Michaels Way (South Ryhope) Residents Management Company Limited St Peters Place (Salisbury) Management Company Limited Stanbridge Meadows (Petersfield) Management Company Limited Stanford Meadows (Stanford-Le-Hope) Residents Management Company Limited Stanton Chase (Swindon) Management Company Limited Staynor Hall 4 (Selby) Residents Management Company Limited Staynor Hall K (Selby) Management Company Limited Stephenson Park (Wallsend) Residents Management Company Limited Stortford Fields (Bishops Stortford) (Persimmon) Resident Management Company Limited Strawberry Fields Penryn Management Company Limited Stream View Management Limited 28 Swan Park (Dawlish) Management Company Limited Sycamore Gardens (Oakdale) RMC Ltd14 Sycamore Rise (Thame) Residents Management Company Limited Tanners Meadow (Strood Green) Management Company Ltd 2 Tarraby View (Carlisle) Management Company Limited Teasdale Place (Carlisle) Management Company Limited The Acorns (Shirley) Management Company Limited21 The Alders (Gilwern) Residents Management Company Limited The Blossoms (Blackburn) Management Company Limited8 The Boulevards (East Tilbury) Residents Management Company Limited The Boulevards (Newport) Residents Management Company Limited The Bridge (Dartford) 29 And 31A Residents Management Company Limited The Bridles (Ffos Las) Management Company Limited14 The Carriages (Burscough) Management Company Limited The Cottons (Holmes Chapel) Management Company Limited The Croft (Burgess Hill) Residents Management Company Limited The Edge (Hempstead) Management Limited The Fell (Lyde Green) Management Company Limited 6 The Gateway (Colchester) Residents Management Company Limited The Goldings Newquay Management Company Limited The Grange (Chalfont St Peter) Management Company Ltd The Grange (Chepstow) Limited The Grange (Wellesbourne) Management Company Limited21 The Hamptons (Newcastle) Resident Management Company Limited5 The Haven (Swansea) Management Company Limited The Hawthorns (Market Harborough) Management Company Limited The Heath (Sandbach) Management Company Ltd8 The Hedgerows (Alsager) Management Company Ltd5 The Heights (Newark) Residents Management Company Limited The Lancasters (Cambridge) Residents Management Company Limited The Landings (Waddington) Residents Management Company Limited The Links (Machynys East) Management Company Limited6 The Maples (Cressing) Residents Management Company Limited The Maples (NGP) Management Company Limited The Maples (Weston) Residents Management Company Limited
The Middles (Stanley) Management Company Limited
The Mile (Pocklington) Management Company Limited
The Nightingales (Helpston) Residents Management Company Limited
32
The Oaklands (NGP) Residents Management Company Limited
The Orchard (Fenstanton) Residents Management Company Limited
33
The Paddocks (Aintree) Management Company Limited
5
The Paddocks (Farcet) Residents Management Company Limited
The Paddocks (Highworth) Management Company Limited
5
The Pastures (Lowton) Management Company Limited
5
The Pinnacles Management Company (Thamesmead) Limited
The Poppies (Harleston) Management Company Limited
The Poppies Management Company Limited
The Priory (Llandough) Residents Management Company Limited
34
The Reeds Lower Halstow Management Ltd
28
The Rosary (Emersons Green) Management Company Limited
The Rydons Exeter Number Two Management Company Limited
The Sands (Durham) Management Company Limited
The Shires (Oswaldtwistle) Management Company Ltd
8
The View (Redditch) Management Company Limited
21
The Village, Aveley Phase II Residents Management Company Limited
The Weald (Easingwold) Management Company Limited
The Wickets (Penenden Heath) Residents Management Company Limited
The Willows (Downham Market) Residents Management Company Limited
The Willows Earlestown (Newton Le Willows) Management Company Limited
24
The Windmills (Kirton) Residents Management Company Limited
Thornley Woods (Gateshead) Management Company Limited
Tilbury Fields (Oxford) Management Company Limited
8
Tir Y Bont (Bridgend) Management Company Limited
Towcester Grange (Towcester) Residents Management Company Limited
18
Trelawny Place (Felixstowe) Residents Management Company Limited
Trevelyan Grange (Morpeth) Residents Management Company Limited
Trevethan Meadows Liskeard Management Company Limited
Trinity Pastures (Calvert Lane Hull) Residents Management Company Limited
Tundra Point (Emersons Green) Management Company Limited
Valley Heights (Frome) Management Company Limited
1
Village Mews (Southowram) Management Company Limited
Walmsley Park (Leigh) Management Company Ltd
5
Watercress Way Management Company Limited
28
Waterfield Place (Market Harborough) Residential Management Company Limited
Waters Edge (Buckshaw) Management Company Limited
24
Waterside At The Bridge Management Company Limited
Watling Place (Newington) Residents Management Company Ltd
Weavers Meadow Estates Management Company Limited
Weavers Meadow Phase 2 (Hadleigh) Residents Management Company Limited
Weavers Place (Skelmanthorpe) Management Company Limited
Weavers View (Pleasley Hill) Residents Management Company Limited
Weavers Wharf Apartments (Coventry) Management Company Limited
Wellington Gate (Grove) Management Company Limited
Wellington Gate (Maresfield) Management Company Limited
Wellswood Park (Reading) Residents Management Company Limited
Wentworth Green Management Company Limited
Westhaven Apartments (Barry) Residents Management Company Limited
Westhoughton (Lee Hall) Residents Management Company Limited
5
Weston Park Limited
Westvale Park (Horley) Management Company Limited
2
Westwood Park (Churwell) Management Company Limited
White Rose Park (Norwich) Residents Management Company Ltd
Whiteford Mews Management Company Limited
Whitewood Park (Bristol) Management Company Limited
Whittington Walk (Worcester) Management Company Limited
21
Whitworth Dale Management Company Limited
Willow Court (Abergavenny) RMC Limited
Willow Park (Aylsham) Management Company Limited
Windmill View (Stanground) Residents Management Company Limited
Windrush Place Witney Management Company Limited
Wombwell (Barnsley) Management Company Limited
Woodhorn Meadows (Ashington) Residents Management Company Limited
Woodland Gardens (Pyle) Management Company Limited
Woodland Rise (Great Cornard) Residents Management Company Limited
Worcester Gate (Worcester) Management Company Limited
21
Wykham Park (Banbury) Management Company Ltd
5
Yew Tree Farm (Droitwich) Management Company Limited
21
Yew Tree Gardens (Tuffley) Management Company Limited
1. Queensway House, 11 Queensway, New Milton, BH25 5NR 2. Homer House, 8 Homer Road, Solihull, B91 3QQ 3. Fountain House, Southwell Road West, Mansfield, NG18 4LE 4. Persimmon House, Birmingham Road, Studley, B80 7BG 5. Unit 7 Portal Business Park, Eaton Lane, Tarporley, CW6 9DL 6. Fisher House, 84 Fisherton Street, Salisbury, SP2 7QY 7. Cheviot House, Beaminster Way East, Newcastle Upon Tyne, NE3 2ER 8. RMG House, Essex Road, Hoddesdon, EN11 0DR 9. 11 Little Park Farm Road, Fareham, PO15 5SN 10. 3rd Floor City Gate, St. James\u2019 Boulevard, Newcastle Upon Tyne, Tyne and Wear, NE1 4JE 11. Unit A5 Optimum Business Park, Optimum Road, Swadlincote, DE11 0WT 12. 94 Park Lane, Croydon, CR0 1JB 13. Persimmon Homes, 3 Waterside Way, Northampton, NN4 7XD 14. 46 Whitchurch Road, Cardiff, CF14 3LX 15. North Point, Stafford Drive, Battlefield Enterprise Park, Shrewsbury, SY1 3BF 16. Burlington House, Botleigh Grange Business Park, Hedge End, Southampton, SO30 2AF 17. Unit 8, The Forum Minerva Business Park, Peterborough, PE2 6FT 18. 2 Hills Road, Cambridge, CB2 1JP 19. 4335 Park Approach, Thorpe Park, Leeds, LS15 8GB 20. Suite 7 Aspect House, Pattenden Lane, Marden, TN12 9QJ 21. 11 Queensway House, Queensway, New Milton, BH25 5NR 22. 250 Aztec West, Almondsbury, Bristol, BS32 4TR 23. Vantage Point, 23 Mark Road, Hemel Hempstead, HP2 7DN 24. Gateway House, 10 Coopers Way, Southend-On-Sea, SS2 5TE 25. 20 King Street, London, EC2V 8EG 26. Acorn Estate Management, 9 St Marks Road, Bromley, BR2 9HG 27. Foundation House, Coach & Horses Passage, Tunbridge Wells, TN2 5NP 28. Scholars House, 60 College Road, Maidstone, ME15 6SJ 29. Woodwater House, Pynes Hill, Exeter, EX2 5WR 30. 1st Floor Lancaster House, 67 Newhall Street, Birmingham, B3 1NQ 31. 72 Victoria Road, Ruislip, HA4 0AH 32. Unit 9, Astra Centre, Edinburgh Way, Harlow, CM20 2BN 33. 17 Apple Tree Close, Fenstanton, Huntingdon, PE28 9FJ 34. Avon House, Stanwell Road, Penarth, Wales, CF64 2EZ * Private limited company ", "dimensions": { "concept": "ifrs-full:DisclosureOfCompositionOfGroupExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-414": { "value": "Joint arrangements
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Beechpath Limited
Ordinary
50%
50%
Bentwaters Housing Limited
Ordinary
50%
50%
Bentwaters Nominees Limited
Ordinary
50%
50%
Coton Park Consortium Limited
WD
50%
25%
6
Description of Proportion of nominal Proportion of all
Name of undertaking shares held value of share class held share classes
Cramlington Developments Limited
A Ordinary
100%
50%
Genesis Estates (Manchester) Limited
Ordinary
50%
50%
Gosforth Business Park Management Company Limited
A Ordinary
100%
33.3%
Haydon Development Company Limited
Ordinary
20.5%
20.5%
Leebell Developments Limited
A Ordinary
100%
50%
Newcastle Great Park (Estates) Limited
A Ordinary
100%
50%
North Haven Developments (Sunderland) Limited
B Ordinary
100%
50%
North Swindon Development Company Limited
Ordinary
15 %
15 %
Oxfordshire Land Limited
Ordinary
33.3%
33.3%
Quedgeley Urban Village Limited
C Ordinary
100%
25%
Rothley Temple Estates Limited
Ordinary
28.5%
28.5%
Sociedade Torre de Marinha Realizacoes Turisticas SA
(incorporated in Portugal)
Ordinary
50%
50%
Trafalgar Metropolitan Homes Limited
A Ordinary
100%
50%
Triumphdeal Limited
Ordinary
50%
50%
Wick 3 Nominees Limited
B Ordinary
100%
33.3%
7 8 2 8 9 10 11 12 The Group also has an investment in TopHat Enterprises Limited. * Share class held by another Group company, but ultimately held by Persimmon Plc. ** A Scottish Limited Partnership. 1. 180 Findochty Street, Garthamlock, Glasgow, G33 5EP 2. 3rd Floor Citygate, St. James\u2019 Boulevard, Newcastle upon Tyne, Tyne & Wear, NE1 4JE 3. 10 Earlsfort Terrace, Dublin 2, D02 T380, Ireland 4. 44 Esplanade, St Helier, JE4 9WG, Jersey 5. 3 Bell Lane, Gibraltar 6. The Office, 12 Westfield Close, Gravesend, Kent, DA12 5EH 7. 6 Europa Court, Sheffield Business Park, Sheffield, S9 1XE 8. 6 Drakes Meadow, Penny Lane, Swindon, Wiltshire, SN3 3LL 9. 250 Aztec West, Almondsbury, Bristol, BS32 4TR 10. 137 Scalby Road, Scarborough, North Yorkshire, YO12 6TB 11. Av. Duque de Loul\u00e9 47-2, 1050-086, Lisbon, Portugal 12. Gate House, Turnpike Road, High Wycombe, Buckinghamshire, HP12 3NR ", "dimensions": { "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-299": { "value": "
Persimmon House
Fulford, York YO19 4FE
Telephone: (01904) 642199
", "dimensions": { "concept": "ifrs-full:PrincipalPlaceOfBusiness", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-4": { "value": "Persimmon House Fulford, York YO19 4FE Telephone: (01904) 642199", "dimensions": { "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-300": { "value": "England", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } }, "fact-5": { "value": "England", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800XI72Y57UWN6F31", "period": "2023-01-01T00:00:00/2024-01-01T00:00:00" } } } }