BETA CENTAURI LIMITED

• ⚠

  Material uncertainty over going concern

  The directors are satisfied with the financial position of the group at the year end and look forward to the year ahead with confidence having regard to the matters discussed in the accounting policies starting on page 18, including the legislative changes disclosed in the going concern section of note 1.4, which potentially could lead to a significant adverse impact on the business such that it may materially impair the group's ability to continue as a 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 1.4. Uncertainty therefore remains as to the form and timing of secondary and potential further legislation, and its consequent effect on the Group's future cash flows and compliance with financial covenants. Should such measures materially reduce income or premiums, forecast cash flows would be expected to decline, likely leading to a breach of loan covenants. Any cap on ground rents will likely lead to an immediate breach of those financial covenants. Such a breach would constitute an Event of Default and the loan would then become repayable on demand. The Group would not have the resources available to meet such demand. As a result this indicates that a material uncertainty exists which may cast significant doubt on the Group and Company's ability to continue as a going concern and therefore they may be unable to realise their assets and discharge their liabilities in the normal course of business.

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

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors are satisfied with the financial position of the group at the year end and look forward to the year ahead with confidence having regard to the matters discussed in the accounting policies starting on page 18, including the legislative changes disclosed in the going concern section of note 1.4, which potentially could lead to a significant adverse impact on the business such that it may materially impair the group's ability to continue as a 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 1.4. Uncertainty therefore remains as to the form and timing of secondary and potential further legislation, and its consequent effect on the Group's future cash flows and compliance with financial covenants. Should such measures materially reduce income or premiums, forecast cash flows would be expected to decline, likely leading to a breach of loan covenants. Any cap on ground rents will likely lead to an immediate breach of those financial covenants. Such a breach would constitute an Event of Default and the loan would then become repayable on demand. The Group would not have the resources available to meet such demand. As a result this indicates that a material uncertainty exists which may cast significant doubt on the Group and Company's ability to continue as a going concern and therefore they may be unable to realise their assets and discharge their liabilities in the normal course of business.”

Group structure

1. BETA CENTAURI LIMITED · parent
   1. Betelgeuse Limited 1% · England · Holding company
   2. Proxima GR Properties Limited 1% · England · Property investment
   3. Retirement Care (BH) Limited 1% · England · Property investment
   4. Tor Sands Freehold Limited 1% · England · Property investment

Significant events

• “Under the Building Safety Act 2022 and related regulations, entities that were under common ownership as at 14 February 2022 may, in certain circumstances, be required to contribute to the remediation of life-critical fire-safety defects in buildings owned by other companies within the same group.”
• “There remains a potential liability in respect of certain relevant buildings for which up-to-date fire-safety assessment information has not yet been made available to the directors.”
• “The Group has applied for, or expects to apply for, government funding to meet the cost of certain building-safety works.”

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

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

  +11.6%

  £22,583,000 → £25,197,000

• Cash

  +8.4%

  £33,689,000 → £36,509,000

• Net assets

  -28.8%

  £520,793,000 → £370,558,000

• Employees

  —

  Not reported

• Operating profit

  -65.7%

  -£113,439,000 → -£187,950,000

• Profit before tax

  -56.7%

  -£128,884,000 → -£201,970,000

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