BIRMINGHAM SCHOOLS PSP PHASE 1B 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

Johnston Carmichael LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“On 5 September 2023, the Authority issued a Section 114 notice which advised that it had insufficient resources to meets its expenditure requirements. The Authority has since clarified that it intends to meet its existing financial and contractual obligations including those arising under its commitments signed with the company's two investments. Since this announcement, the Authority has paid the unitary payments in line with the investments' respective Project Agreements. In the previous year, the directors became aware of investments' on-site latent defects, and it was agreed to retain cash in those companies to pay for legal and professional costs to ensure those defects were rectified. As those investments are the only source of income for the company, concerns were raised over the funding available to support the going concern assumption. However, as the company does not have a bank account of its own, it settles amount owed by way of accounting transactions with a related party receiving funds in its own bank account directly from the company's investment. Any delay in receipt of investment income is matched by a reciprocal delay in onward payment to the company's creditor: Considering this and the fact that the Authority has since been able to pay its liabilities as they have fallen due, the directors believe it remains appropriate to prepare these accounts on the going concern basis.”

Group structure

1. BIRMINGHAM SCHOOLS PSP PHASE 1B LIMITED · parent
   1. Birmingham Schools SPC Holdings Phase 1B Ltd 0.81%

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

Filings

2

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

  +7.7%

  £2,117,000 → £2,281,000

• Cash

  +70.9%

  £1,722,000 → £2,943,000

• Net assets

  +46.3%

  £298,000 → £436,000

• Employees

  —

  Not reported

• Operating profit

  -5.1%

  £316,000 → £300,000

• Profit before tax

  +40.3%

  £129,000 → £181,000

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