CAPELLA UK BIDCO 1 LIMITED
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Next accounts due
2026-06-30 (in 1mo)
Last filed for 2024-09-30
Confirmation statement due
2027-03-05 (in 10mo)
Last made up 2026-02-19
Watchouts
Cash
£49M
+212% vs 2023
Net assets
£993M
-15.8% vs 2023
Employees
0
Average over period
Profit before tax
-£173M
-369.1% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
Net assets
2-year trend · vs Real Estate median
Accounts
2-year trend · latest reflected 2024-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | -£113,000 | -£109,795,000 | |
| Profit before tax | -£36,939,000 | -£173,264,000 | |
| Net profit | -£32,796,000 | -£173,646,000 | |
| Cash | £15,698,000 | £48,982,000 | |
| Total assets less current liabilities | £3,499,627,000 | £3,377,129,000 | |
| Net assets | £1,180,247,000 | £993,357,000 | |
| Equity | £1,180,247,000 | £993,357,000 | |
| Average employees | 0 | 0 | |
| Wages | — | — | |
| Directors' remuneration | £0 | £0 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-09-30 vs 2023-09-30
-
Turnover
—
Not reported
-
Cash
+212%
£15,698,000 £48,982,000
-
Net assets
-15.8%
£1,180,247,000 £993,357,000
-
Employees
—
Not reported
-
Operating profit
-97,063.7%
-£113,000 -£109,795,000
-
Profit before tax
-369.1%
-£36,939,000 -£173,264,000
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-09-30 | 2024-09-30 |
|---|---|---|---|
| Return on capital employed | -0.0% | -3.3% | |
| Gearing (liabilities / total assets) | 68.6% | 77.2% | |
| Current ratio | 1.13x | 0.58x | |
| Interest cover | -0.00x | -0.63x |
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.
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have, at the time of approving the financial statements, a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Further information is included in note 2 to the financial statements. The Directors therefore consider it appropriate to adopt the going concern basis in preparing the financial statements.”
Group structure
- CAPELLA UK BIDCO 1 LIMITED · parent
- IQSA (GP2) Limited 100%
- Elliot Edinburgh Limited 100%
- IQSA (Hermes) Limited 100%
- Pure Bankside Limited 100%
- Pure Hammersmith Limited 100%
- Pure City Opco Limited 100%
- IQSA (GP1) Limited 100%
- Redness York Limited 100%
- UKSA 60 CR Limited 100%
- IQSA UK City Aldgate Limited 100%
- IQSA (Athena) Limited 100%
- Arcade Holloway Limited 100%
- Opal Villas Limited 100%
- LTS Paris Gardens (General Partner) Limited 100%
- Hermes Asset Weston S.a.r.l. 100%
- IQSA Ewer Hammersmith S.a.r.l. 100%
- IQSA Redness York S.a.r.l. 100%
- Athena Asset 4 S.a.r.l. 100%
- IQSA Century Square S.a.r.l. 100%
- IQ Properties S.a.r.l. 100%
- GSGA II Real Estate S.a.r.l. 100%
- IQSA Arcade Holloway Road S.a.r.l. 100%
- IQSA Elliot Edinburgh S.a.r.l. 100%
- IQSA Arcade LL S.a.r.l. 100%
- Athena Asset 5 S.a.r.l. 100%
- Hermes Asset Group S.a.r.l. 100%
- Lugus Holdings S.a.r.l. 100%
- IQSA Redeness 2 S.a.r.l. 100%
- IQSA Paris Gardens S.a.r.l. 100%
- Titanium Bloomsbury S.a.r.l. 100%
- Titanium Minority Unitholder S.a.r.l. 100%
- IQSA (Wembley Court) LP 100%
- LTS Paris Gardens Limited Partnership 100%
- IQSA (Glasgow) Limited 100%
- IQ (Shareholder GP) Limited 100%
- IQSA (Bloomsbury) Nominee Limited 100%
- IQ Shoreditch (General Partner 2) Limited 100%
- Corsham Street Student 1 Limited 100%
- IQ Two (General Partner) Limited 100%
- IQ Two Property Limited Partnership 100%
- IQ Two Letting (General Partner 2) Limited 100%
- IQ (General Partner) Limited 100%
- IQ Property Partnership 100%
- IQ Letting Property Partnership 100%
- IQ Shoreditch Letting (General Partner 2) Limited 100%
- IQSA Weaver Place Limited 100%
- IQSA (Brighton) Limited 100%
- LTS Paris Gardens (Nominee) Limited 100%
- IQSA (Bloomsbury) LP 100%
- IQ Shoreditch (General Partner) Limited 100%
- IQ Shoreditch Property Limited Partnership 100%
- IQ Shoreditch Letting (General Partner) Limited 100%
- IQ Two (General Partner 2) Limited 100%
- IQ Two Letting (General Partner) Limited 100%
- IQ Two Letting Property Limited Partnership 100%
- IQ (General Partner 2) Limited 100%
- IQ Letting (General Partner) Limited 100%
- IQ Letting (General Partner 2) Limited 100%
- IQ Shoreditch Letting Property Limited Partnership 100%
- IQ Unit Trust 100%
- IQ Shoreditch Unit Trust 100%
Significant events
- “On 14 October 2024, the Company purchased an interest rate cap, effective from 2 September 2024, to hedge interest outflows on its new £2.6bn floating-rate facility.”
- “On 3 September 2024, IQSA Holdings S.a.r.l. issued 2 shares at a premium of £117,744k to the Company. Following this, the Company sold IQSA Holdings S.a.r.l. to a related party entity, Capella UK Mezzco 1 Limited, for a total consideration of £492,997k.”
- “The Company acquired the following entities from related party entities for a total consideration of £519,798k: Arcade Holloway Limited, Athena Asset 4 S.a.r.l., Athena Asset 5 S.a.r.l., Elliot Edinburgh Limited, GSGA II Real Estate S.a.r.l., Hermes Asset Group S.a.r.l., Hermes Asset Weston S.a.r.l, IQSA (Athena) Limited, IQSA (GP1) Limited, IQSA (GP2) Limited, IQSA (Hermes) Limited, IQSA Arcade Holloway Road S.a.r.l., IQSA Arcade LL S.a.r.l, IQSA Century Square S.a.r.l., IQSA Elliot Edinburgh S.a.r.l., IQSA Ewer Hammersmith S.a.r.l., IQSA Paris Gardens S.a.r.l., IQ Properties S.a.r.l., IQSA Redeness 2 S.a.r.l., IQSA Redness York S.a.r.l., IQSA UK City Aldgate Limited, LTS Paris Gardens (General Partner) Limited, Lugus Holdings S.a.r.l., Opal Villas Limited, Pure Bankside Limited, Pure City Opco Limited, Pure Hammersmith Limited, Redness York Limited and UKSA 60 CR Limited.”
- “The disposal of entities resulted in an impairment being taken during the year, that was offset by the rebadge of value of the acquired entities, of £101,783k (2023: no impairment).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 6 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KANAKIS, Rebecca Louise | Director | 2022-07-22 | Feb 1980 | British |
| MERRICK, Matthew Graham | Director | 2026-04-30 | Feb 1978 | British |
| SANGAR, Dushyant Singh | Director | 2025-05-16 | Jan 1982 | British |
Show 6 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DAVIES, Simon David Austin | Director | 2020-02-20 | 2022-07-22 |
| KATAKY, Gemma Nandita | Director | 2020-02-20 | 2023-02-24 |
| MORTIMER, James Neil | Director | 2021-07-30 | 2026-04-30 |
| MORTON, Emma Jane | Director | 2020-02-20 | 2021-07-30 |
| VASHI, Rachana Gautam | Director | 2023-02-24 | 2025-05-16 |
| VRANA, Michael David | Director | 2020-02-20 | 2025-05-16 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Stephen Allen Schwarzman | Individual | Significant influence | 2020-02-20 | Ceased 2021-11-23 |
| Capella Uk Pledgeco 1 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-02-20 | Active |
Filing timeline
Last 20 of 57 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-09-11 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-01 | AP01 | officers | Appoint person director company with name date | |
| 2026-04-30 | TM01 | officers | Termination director company with name termination date | |
| 2026-03-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-02 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2025-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-05-30 | AP01 | officers | Appoint person director company with name date | |
| 2025-05-02 | AA | accounts | Accounts with accounts type full | |
| 2025-03-03 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-02-13 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-02-13 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-12-10 | AD02 | address | Change sail address company with old address new address | |
| 2024-09-19 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-09-19 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2024-09-11 | SH20 | capital | Legacy | |
| 2024-09-11 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2024-09-11 | CAP-SS | insolvency | Legacy | |
| 2024-09-11 | RESOLUTIONS | resolution | Resolution | |
| 2024-09-11 | SH01 | capital | Capital allotment shares | |
| 2024-09-06 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 8
- Capital events
- 3
- Officers appointed
- 2
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.