METROPOLITAN PROPERTIES COMPANY LIMITED

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Cohen Arnold

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The group continues to generate profits and retains substantial cash reserves. Gearing is 20.9% (2023: 21.8%), on the basis of gross debt to total assets and the group retains long standing relationships with leading banks and financial institutions. Consequently, the Directors consider the Group is well placed to manage its business risks successfully despite the continued uncertain economic outlook. The Directors therefore have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. The Directors are satisfied that even in the plausible worst-case scenario, the Group will have sufficient resources to be able to continue to operate and there are no breaches of any of its loan covenants. Consequently, the Directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for at least twelve months from the date of approving these financial statements. Thus the Group continues to adopt the going concern basis of accounting in preparing the financial statements.”

Group structure

1. METROPOLITAN PROPERTIES COMPANY LIMITED · parent
   1. Metropolitan (Finwell Freehold) Limited · England and Wales
   2. Metropolitan (Finwell Leasehold) Limited · England and Wales
   3. Metropolitan Properties (City) Limited · England and Wales
   4. Metropolitan (E.M.) Limited 80% · England and Wales
   5. Delopolitan Corporation Inc. · USA
   6. Metrobastion Associates 80% · USA

Significant events

• “Tenant defaults”
• “Damage to properties from flood, fire or terrorist action”
• “Changes in regulation on building standards, environmental or health and safety rules”
• “Reduced demand for office space if the current trend for home working becomes permanent and for retail premises if consumers' preference for making purchases online increases still further”
• “Increases in the cost of borrowing”
• “Inappropriate acquisitions”
• “Planning, construction and letting risk in relation to redevelopment activity”
• “The macroeconomic and geopolitical environment.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  -5.5%

  £33,600,000 → £31,764,000

• Cash

  -51.4%

  £21,900,000 → £10,647,000

• Net assets

  -4.4%

  £495,293,000 → £473,583,000

• Employees

  0%

  33 → 33

• Operating profit

  +69.1%

  -£73,960,000 → -£22,847,000

• Profit before tax

  +64.5%

  -£74,794,000 → -£26,564,000

• Wages

  +7%

  £1,563,000 → £1,673,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers