BALTIC STREET (EDINBURGH) 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

FRS 102

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on a going concern basis. The Members, in their consideration of going concern, have taken into account the fact that the Development will now be taken forward by Shore Station (Edinburgh) Development LLP, a JV between Baltic Street LLP and Housing Growth Partnership (HGP). Under the terms of the JV, HGP will provide the equity required to deliver the project alongside £79.15m of development debt from Bentall Green Oak (BGO). As a result, Baltic LLP will not have to cover any future liabilities associated with the development and will be running just to receive its share of profits once the project is completed, let and sold. Accordingly it is their reasonable expectation that the Partnership has adequate resources to continue in operational existence for at least 12 months from the date of approval of the financial statements.”

Significant events

• “In October 2021, the Partnership acquired the freehold of land at Baltic Street in Edinburgh. The purchase price amounted to £8,100,000 and benefited from a student planning consent.”
• “In April 2025, the Partnership sold the land to Shore Station (Edinburgh) Development LLP for £21.5m.”
• “As part of the deal, a new JV was formed between Baltic LLP and Housing Growth Partnership (HGP) in which Baltic received £11.1m and converted £10.4m as equity in the Development LLP whilst HGP committed to invest £25m in the new venture. As a result of this transaction, Baltic has an ownership of 29.8% in the development which is expected to complete in June 2027.”
• “As a result of the sale of the land, the Partnership has settled some of its liabilities, has left some cash to cover future running costs and made a distribution of £9m to its members.”

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

  +151.3%

  £117,651 → £295,644

• Net assets

  +25.3%

  £11,859,128 → £14,853,866

• Employees

  —

  Not reported

• Operating profit

  +16.9%

  -£137,344 → -£114,111

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