BAE SYSTEMS PROPERTIES LIMITED

1. BAE SYSTEMS PROPERTIES LIMITED 2000-02-23 → present
2. BRITISH AEROSPACE PROPERTIES LIMITED 1994-08-24 → 2000-02-23
3. APH (1994) LIMITED 1994-06-21 → 1994-08-24
4. SUPERTWICE SERVICES LIMITED 1993-10-19 → 1994-06-21

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

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

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on the going concern basis, notwithstanding net current liabilities of £669,889k. The Company is dependent for its working capital on funds provided to it by BAE Systems plc, the Company's ultimate parent. BAE Systems plc has indicated that, for at least 12 months from the date of approval of these financial statements, it will continue to make available funds as are needed by the Company to meet its liabilities as they fall due and in particular will not seek repayment of amounts currently made available. The directors consider that this should enable the Company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment.”

Group structure

1. BAE SYSTEMS PROPERTIES LIMITED · parent
   1. Newcombe Properties Limited 100% · UK
   2. Winner Developments Limited 33.33% · UK

Significant events

• “There have been no significant events affecting the Company since the year end.”
• “As noted in the 2023 Annual Report and Financial Statements, the Company is aware of the 'Virgin Media v NTL Pension Trustees Ltd and others' case and continues to monitor developments in this area of the law with the help of its advisors. Following the Court of Appeal's decision to uphold the ruling of the High Court against Virgin Media, the Company has been considering the extent to which the defined benefit schemes are exposed to the outcomes of this case and any resulting change in pension obligations, if any, is not anticipated to be material to the Company. The Company is therefore satisfied that it remains appropriate to make no adjustment to the financial statements on this basis but will keep the matter under review.”

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

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

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

• Turnover

  +57.3%

  £63,804,000 → £100,374,000

• Cash

  —

  Not reported

• Net assets

  +9.3%

  -£36,838,000 → -£33,425,000

• Employees

  -0.9%

  113 → 112

• Operating profit

  +157.7%

  £866,000 → £2,232,000

• Profit before tax

  +99%

  £1,253,000 → £2,493,000

• Wages

  +5.5%

  £6,784,000 → £7,160,000

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