PROXIMA GR PROPERTIES LIMITED

• ⚠

  Material uncertainty over going concern

  However, there is a material uncertainty in relation to future income due to the Leasehold and Freehold Reform Act 2024, of which further details are given in note 2.3. As stated in Note 2.3, these events or conditions, along with other matters stated in Note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.

1. PROXIMA GR PROPERTIES LIMITED 2011-03-24 → present
2. AZTEC GR PROPERTIES LIMITED 2011-03-15 → 2011-03-24
3. FAIRHOLD PROPERTIES LIMITED 2011-03-15 → 2011-03-15
4. PEVEREL PROPERTIES LIMITED 1999-10-12 → 2011-03-15
5. SHELFCO (NO.1727) LIMITED 1999-08-23 → 1999-10-12

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

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“However, there is a material uncertainty in relation to future income due to the Leasehold and Freehold Reform Act 2024, of which further details are given in note 2.3. As stated in Note 2.3, these events or conditions, along with other matters stated in Note 2.3, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern.”

Group structure

1. PROXIMA GR PROPERTIES LIMITED · parent
   1. Tor Sands Freehold Limited 100% · England and Wales · property investment

Significant events

• “The Leasehold Reform (Ground Rent) Act 2022 was enacted during 2022 and prohibits ground rent exceeding a peppercorn on new long residential leases and limits ability to generate new rental income on future leases and during the extension period of existing leases.”
• “On 24 May 2024, the Leasehold and Freehold Reform Act 2024 received Royal Assent. This Act reduces the premium payable to freeholders when leaseholders exercise statutory rights to enfranchisement or lease extension.”
• “The Government intends to introduce a further Bill to regulate the level of ground rent that can be charged on existing leases. Uncertainty remains as to the form and timing of secondary and further legislation.”
• “The Building Safety Act 2022 imposes legal obligations on freeholders for remediation of certain life-critical fire-safety defects in applicable residential buildings.”

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

Filings

9

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +10.8%

  £21,452,000 → £23,765,000

• Cash

  —

  Not reported

• Net assets

  -14.5%

  £1,047,552,000 → £895,217,000

• Employees

  —

  Not reported

• Operating profit

  -65.9%

  -£111,628,000 → -£185,225,000

• Profit before tax

  -58%

  -£128,185,000 → -£202,470,000

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