BRIDGEWATER INVESTMENT HOLDINGS PLC

• ⚠

  Material uncertainty over going concern

  This report has been prepared on a going concern basis although there is a significant material uncertainty that exists, due to the default and maturity of the senior loan facility subsequent to year end.

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

• Turnover

  +1%

  £7,627,000 → £7,707,000

• Cash

  -20.8%

  £20,975,000 → £16,602,000

• Net assets

  -114.2%

  £17,842,000 → -£2,535,000

  lowest in 3 filed years

• Employees

  -33.3%

  3 → 2

• Operating profit

  -39.4%

  -£11,480,000 → -£16,004,000

• Profit before tax

  -34.6%

  -£15,155,000 → -£20,403,000

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

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. BRIDGEWATER INVESTMENT HOLDINGS PLC 2024-01-22 → present
2. BWP REIT PLC 2020-08-20 → 2024-01-22

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

HaysMac LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“This report has been prepared on a going concern basis although there is a significant material uncertainty that exists, due to the default and maturity of the senior loan facility subsequent to year end.”

Group structure

1. BRIDGEWATER INVESTMENT HOLDINGS PLC · parent
   1. BWP HoldCo Limited 100% · UK · Holding Company
   2. BWP Propco Limited 100% · UK · Real Estate Company

Significant events

• “Following the announcement on 4 September 2023 that the IPSX had begun winding down operations, the Directors, in conjunction with the Asset and Investment Manager, made the decision to cancel the admission of the Company's ordinary shares trading on the IPSX Wholesale Market, and to not re-list those shares on an alternative exchange. The last day that the Company's shares were traded on the IPSX was 27 November 2023, with de-listing occurring on 28 November 2023.”
• “Concurrent with leaving the IPSX, the Company voluntarily exited the UK REIT Regime on 24 November 2023 following advice from its tax adviser.”
• “Subsequent to year end, the senior loan matured in November 2024 and was extended multiple times through to May 2025. Following this, the loan was still unable to be repaid, the loan to value ("LTV") covenant was breached, and the senior lenders reserved their rights and put the loan into default. The immediate consequence of the default is that the loan is incurring default interest of 3% pa above margin, which is being paid quarterly on relevant interest payment dates.”

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

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

0

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.