BALFRON TOWER DEVELOPMENTS LLP

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

Standalone (parent only)

Auditor

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis which the members consider appropriate for the following reasons: The LLP meets its day to day working capital requirements from operational cash flows and loans and other payables from related parties. On 12 January 2024, the LLP transferred ownership of Balfron Tower to its wholly owned subsidiary, Balfron Tower Residential Limited. Under the new strategy, the board of members appointed Way of Life Management Limited as property managers to lease up the building. On the same date, the subsidiary secured a new £38 million loan facility maturing on 12 January 2028 to support the leasing of the asset. The LLP's ability to continue as a going concern is dependent on the performance of the build to rent strategy. The members cash flow forecasts, which cover at least a 12 month period from the date of approval of these financial statements ("the going concern assessment period"), have been prepared based on a Base Case and a severe but plausible downside case.”

Group structure

1. BALFRON TOWER DEVELOPMENTS LLP · parent
   1. Balfron Tower Residential Limited 100% · England · letting out the units

Significant events

• “During January 2024, the Partnership transferred Balfron Tower to Balfron Tower Residential Limited (the "Company") and simultaneously refinanced its loan facility. Balfron Tower Residential Limited signed a new £38,000,000 loan facility with Investec Bank plc of which the proceeds were used to repay the existing RBS facility held by the Partnership in full. See note 9 for further details on the new facility. On 12 January 2024, the LLP transferred ownership of Balfron Tower to its wholly owned subsidiary, Balfron Tower Residential Limited. Under the new strategy, the board of members appointed Way of Life Management Limited as property managers to lease up the building. On the same date, the subsidiary secured a new £38 million loan facility maturing on 12 January 2028 to support the leasing of the asset.”

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

  —

  Not reported

• Cash

  -55.9%

  £111,000 → £49,000

• Net assets

  -3.5%

  -£12,044,000 → -£12,460,000

• Employees

  —

  Not reported

• Operating profit

  +81.2%

  -£3,113,000 → -£586,000

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