BWP HOLDCO LIMITED

• ⚠

  Material uncertainty over going concern

  Current cashflow forecasting of the Subsidiary suggests that there is a material uncertainty that could cast doubt on the Subsidiary's ability to continue as a going concern due to the already matured senior debt. Despite preliminary conversations with the lenders being positive, this represents a material uncertainty that could cast doubt on the Subsidiary's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. BWP HOLDCO LIMITED 2025-01-20 → present
2. M7 BWP HOLDCO LIMITED 2020-06-30 → 2025-01-20

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 Reduced Disclosure Framework

Reporting scope

Standalone (parent only)

Auditor

HaysMac LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Current cashflow forecasting of the Subsidiary suggests that there is a material uncertainty that could cast doubt on the Subsidiary's ability to continue as a going concern due to the already matured senior debt. Despite preliminary conversations with the lenders being positive, this represents a material uncertainty that could cast doubt on the Subsidiary's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.”

Group structure

1. BWP HOLDCO LIMITED · parent
   1. BWP Propco Limited (Formerly M7 BWP Propco Limited) 100% · England and Wales · to provide an attractive level of total shareholder return, principally through capital growth by investing in Bridgewater Place

Significant events

• “Subsequent to year end, the senior loan facility of the Company's Subsidiary has fallen into default, following a failure to repay the loan upon maturity. This has led to the senior lender appointing debt recovery consultants, Teneo, to oversee and monitor the Subsidiary. A consequence of this arrangement is that mezzanine loan note interest has been blocked from payment, which has created a default in the mezzanine loan note facility. The mezzanine loan note holders continue to be supportive of the Group and are aware of the ongoing financing position. It is not expected that the collective mezzanine loan note holders will enforce on the Group, however this constitutes a default in the facility and the loan is now payable on demand.”

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

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

3

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  +479.8%

  £89 → £516

• Net assets

  -1,030.8%

  £3,319,125 → -£30,892,867

• Employees

  —

  Not reported

• Operating profit

  +2%

  -£53,061 → -£52,009

• Profit before tax

  -19,919.9%

  -£170,890 → -£34,211,992

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