Latest account reports say Housesimple's in the red

Houseimple reports that it is millions in the red.

Online agent Housesimple has published its latest accounts, showing it is over £19 million in the red.

The accounts cover the year to the end of March 2019.

The business has posted total assets, less liabilities, at minus £19,217,363 for the period, up from minus £9,802,136 on the previous year.

The document lodged at Companies House also shows that in October this year the company raised £4.5 million from existing shareholders.

The document says that the holders of the loan notes “have advised that they do not currently intend to recall those loans in the 12-month period following the date on which the financial statements are signed”.

It goes on:

“The board have prepared forecasts for the period to 31 October 2020 which indicate that the company can continue to trade within its cash resources for the 12 months following the signing of these financial statements."

Read more here

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