BLACKHORSE UK HOLDCO LTD

• ⚠

  Material uncertainty over going concern

  Based on the above indications the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. However, these circumstances indicate the existence of a material uncertainty related to events or conditions that may cast significant doubt about the Group and Company's ability to continue as a going concern should the Group be unable to obtain new financing, and therefore the Group and Company 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

IFRS

Reporting scope

Consolidated group

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Based on the above indications the directors believe that it remains appropriate to prepare the financial statements on a going concern basis. However, these circumstances indicate the existence of a material uncertainty related to events or conditions that may cast significant doubt about the Group and Company's ability to continue as a going concern should the Group be unable to obtain new financing, and therefore the Group and Company may be unable to realise their assets and discharge their liabilities in the normal course of business.”

Group structure

1. BLACKHORSE UK HOLDCO LTD · parent
   1. Blackhorse UK Propco Ltd 100% · England and Wales · Development of investment property
   2. Blackhorse UK Opco Ltd 100% · England and Wales · Rental of student accommodation

Significant events

• “On 25 January 2026, APG's 90% shareholding in the Company was transferred to Scape Living Plc ("SLP"). SLP are now the immediate parent undertaking of the Company. In consideration for the transfers, SLP issued shares to APG. APG remains the ultimate controlling party.”

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

Filings

13

last 12 months

Capital events

5

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  -59.4%

  £960,000 → £390,000

• Net assets

  +92.2%

  £22,354,000 → £42,971,000

• Employees

  —

  Not reported

• Profit before tax

  +230.1%

  -£1,078,000 → £1,403,000

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