BEECH STREET (LONDON) LLP

• ⚠

  Material uncertainty over going concern

  We draw attention to Note 1 to the financial statements, which indicates that the Limited Liability Partnership relies on refinancing its loan facility, which is not guaranteed. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Limited Liability Partnership's ability to continue as a going concern. The financial statements do not include any adjustments that would be necessary if the Limited Liability Partnership were unable to continue as a going concern. Our opinion is not modified in respect of this matter.

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

Material uncertainty disclosed

“We draw attention to Note 1 to the financial statements, which indicates that the Limited Liability Partnership relies on refinancing its loan facility, which is not guaranteed. As stated in Note 1, these events or conditions, along with other matters as set forth in Note 1, indicate that a material uncertainty exists that may cast significant doubt on the Limited Liability Partnership's ability to continue as a going concern. The financial statements do not include any adjustments that would be necessary if the Limited Liability Partnership were unable to continue as a going concern. Our opinion is not modified in respect of this matter.”

Significant events

• “In May 2023, the Partnership acquired the freehold of an office building near the Barbican, London, for a total consideration of £28.5m. As part of the acquisition, the Partnership entered into a £12.1m acquisition loan which is due to be repaid in November 2025.”
• “In October 2024, the Partnership secured planning consent to convert the current office building into 174 Co-living homes. Since planning permission was granted, the Partnership has secured vacant possession of the site and has been working on detailed design, stripping out the building and tendering the main construction works with a reputable”
• “The Partnership has also decided to take the development forward by building it out, stabilising and then selling the asset post completion instead of pursuing a site sale or a forward funding agreement.”
• “In September 2025, the members also signed Heads of Terms with a new lender to provide a development facility of up to £78.1m to refinance the current acquistion debt in November 2025 and provide sufficient finance to fund the main construction works.”
• “The refinancing process is expected to be concluded by the end of November 2025. However, given recent changes in the Building Safety Regulations, the start of construction is subject to Gateway 2 approval...”
• “The Partnership aims to submit the Gateway 2 application by the end of 2025 and anticipates approval being granted within six months. The main construction works are expected to start in July 2026 with Practical Completion in July 2027.”

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

Filings

3

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

  -18.3%

  £1,409,733 → £1,152,113

• Cash

  +1,300.9%

  £48,847 → £684,306

• Net assets

  +6.4%

  £20,937,166 → £22,285,262

• Employees

  —

  Not reported

• Operating profit

  -20%

  £1,370,695 → £1,095,948

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