OBAYASHI PROPERTIES UK LIMITED

• ◆

  Audit opinion: Qualified

  Latest auditor's report carried a non-clean opinion.

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

Goodman Jones LLP

Audit opinion

Qualified

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis, which assumes that the Company will be able to meet its liabilities as they fall due for a period of at least 12 months from the date of authorisation of these financial statements. The Directors have considered the period to 30th April 2026. As at 31 December 2024, the Company has cash balances of £6.4m (2023: £5.6m), and external loans of £284m (2023: £288m). In order to satisfy themselves that the Company has adequate resources to continue as a going concern for the foreseeable future, the Directors have reviewed base case, downside and reverse stress test models, as well as a cash flow model which considers the impact of pessimistic assumptions on the Company's operating environment. Base case model includes capital injection from the Company's parent. The downside scenario reflects reduction in revenue, accelerated early expenditure on the development project and combination of both scenarios. The Company has four external loans: Loan 1 has a ten-year term on a fixed interest rate with committed amortisation repayments in the forthcoming year, which have been included in the cash flow projections. It matures in June 2030. Loan 2 is an interest only loan over a ten-year period with a fixed rate of interest maturing in March 2032. Loan 3 is an interest only loan on a revolving monthly basis maturing in February 2026. Loan 4 is an interest only revolving facility with no maturity. All loans are guaranteed by the Company's parent. There are no financial covenants that the Company is required to comply with. Based on the forecasts prepared and the scenarios modelled, the Directors consider it appropriate to adopt the going concern basis in preparing the accounts for the year ended 31 December 2024.”

Group structure

1. OBAYASHI PROPERTIES UK LIMITED · parent
   1. 60 Gracechurch Unit Trust 100% · Jersey · Real estate development and investment
   2. 60 Gracechurch (General Partner) Limited 100% · United Kingdom · Real estate development and investment

Significant events

• “There were no significant events after the year end date and up to the date of signing.”

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

Filings

4

last 12 months

Capital events

2

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

  0%

  £11,221,243 → £11,223,695

• Cash

  +14.5%

  £5,567,422 → £6,374,230

• Net assets

  +0.6%

  £338,335,426 → £340,382,252

• Employees

  +80%

  5 → 9

• Operating profit

  +201.6%

  -£14,000,564 → £14,224,965

• Profit before tax

  +125.8%

  -£21,945,959 → £5,665,202

• Wages

  +89.4%

  £694,762 → £1,316,104

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