CAPELLA UK HOLDCO 2 LIMITED
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Cash
—
Latest balance sheet
Net assets
£1.7B
0% vs 2024
Employees
0
Average over period
Profit before tax
£0
+100% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
The Group has considered two cash flow scenarios: a base case and a severe but plausible downside scenario. Both scenarios assume that the Group's shareholders will provide additional cash support to fund specific committed developments and working capital. The shareholders have provided a capped letter of support covering such costs. Additionally, the Group's shareholders have confirmed that that they will extend any repayment terms relating to current or future loans such that no repayments would be required within the Going Concern Period.
-
Going-concern uncertainty disclosed
Net assets
3-year trend · vs Real Estate median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | — | — | — | — | |
| Operating profit | £9,000 | -£13,000 | £0 | +100% | |
| Profit before tax | £9,000 | -£13,000 | £0 | +100% | |
| Net profit | £9,000 | -£13,000 | £0 | +100% | |
| Cash | — | — | — | — | |
| Total assets less current liabilities | £1,565,262,000 | £1,693,249,000 | £1,693,249,000 | 0% | |
| Net assets | £1,565,262,000 | £1,693,249,000 | £1,693,249,000 | 0% | |
| Equity | £1,565,262,000 | £1,693,249,000 | £1,693,249,000 | 0% | |
| Average employees | 0 | 0 | 0 | — | |
| Wages | — | — | — | — | |
| Directors' remuneration | — | — | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-09-30 | 2024-09-30 | 2025-09-30 |
|---|---|---|---|---|
| Return on capital employed | 0.0% | -0.0% | 0.0% | |
| Current ratio | 1.00x | 1.00x | 1.00x |
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.
Name history
Renamed 2 times since incorporation
- CAPELLA UK HOLDCO 2 LIMITED 2020-05-15 → present
- CAPELLA UK HOLDCO 2 PLC 2020-05-15 → 2020-05-15
- CAPELLA UK BONDCO PLC 2020-02-19 → 2020-05-15
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Audit opinion
- Unaudited (audit-exempt)
- Going concern
- Material uncertainty disclosed
“The Group has considered two cash flow scenarios: a base case and a severe but plausible downside scenario. Both scenarios assume that the Group's shareholders will provide additional cash support to fund specific committed developments and working capital. The shareholders have provided a capped letter of support covering such costs. Additionally, the Group's shareholders have confirmed that that they will extend any repayment terms relating to current or future loans such that no repayments would be required within the Going Concern Period.”
Group structure
- CAPELLA UK HOLDCO 2 LIMITED · parent
- Arcade Holloway Limited 100%
- Capella UK Bidco 1 Limited 100%
- Capella UK Bidco 2 Limited 100%
- Capella UK Mezzco 1 Limited 100%
- Capella UK Mezzco 2 Limited 100%
- Capella UK Midco 1 Limited 100%
- Capella UK Midco 2 Limited 100%
- Capella UK Pledgeco 1 Limited 100%
- Capella UK Pledgeco 2 Limited 100%
- Corsham Street Student 1 Limited 100%
- Elliot Edinburgh Limited 100%
- iQ (General Partner 2) Limited 100%
- iQ (General Partner) Limited 100%
- iQ (Shareholder GP) Limited 100%
- iQ Letting (General Partner 2) Limited 100%
- iQ Letting (General Partner) Limited 100%
- iQ Letting Property Partnership 100%
- iQ Property Partnership 100%
- iQ Shoreditch (General Partner) Limited 100%
- iQ Shoreditch (General Partner 2) Limited 100%
- iQ Shoreditch Letting (General Partner 2) Limited 100%
- iQ Shoreditch Letting (General Partner) Limited 100%
- IQ Shoreditch Letting Property Limited Partnership 100%
- IQ Shoreditch Property Limited Partnership 100%
- IQ Two (General Partner) Limited 100%
- IQ Two (General Partner 2) Limited 100%
- IQ Two Letting (General Partner 2) Limited 100%
- IQ Two Letting (General Partner) Limited 100%
- IQ Two Letting Property Limited Partnership 100%
- iQ Two Property Limited Partnership 100%
- IQSA (Athena) Limited 100%
- IQSA (GP2) Limited 100%
- IQSA (Hermes) Limited 100%
- IQSA (Huddersfield) Limited 100%
- IQSA (Oxford) Limited 100%
- IQSA (Wembley court) LP 100%
- IQSA (Westbourne) Limited 100%
- IQSA Blythswood Limited 100%
- IQSA Clyde Limited 100%
- IQSA General Operating Company Limited 100%
- IQSA Nelson Limited 100%
- IQSA Nottingham Holding Company Limited 100%
- IQSA Star Limited 100%
- IQSA St. George's Limited 100%
- IQSA Stephenson House Limited 100%
- IQSA TTS Nottingham Limited 100%
- IQSA UK City Aldgate Limited 100%
- IQSA Weaver Place Limited 100%
- Lewes Brighton Limited 100%
- LTS Paris Gardens (General Partner) Limited 100%
- LTS Paris Gardens Limited Partnership 100%
- LTS Paris Gardens (Nominee) Limited 100%
- MP Newlands Limited 100%
- MP Newtown Limited 100%
- Opal Villas Limited 100%
- Pure Bankside Limited 100%
- Pure City Opco Limited 100%
- Pure Hammersmith Limited 100%
- Pure Highbury Limited 100%
- Redness York Limited 100%
- Twerton Bath Limited 100%
- UKSA 60 CR Limited 100%
- IQSA (Bloomsbury) LP 100%
- IQSA (Bloomsbury) Nominee Limited 100%
- IQSA (Wembley Court) GP1 Limited 100%
- IQSA Trafalgar Limited 100%
- GSG Athena 2 Holdco S.à r.l. 100%
- GSG Athena 2 S.à r.l. 100%
- GSG Hermes S.à r.l. 100%
- IQSA Acquisition 1 S.à r.l. 100%
- IQSA Acquisition 2 S.à r.l. 100%
- IQSA Arcade Holloway Road S.à r.l. 100%
- IQSA Commercial Road S.à r.l. 100%
- IQSA Holdings S.à r.l. 100%
- IQSA Manors S.à r.l. 100%
- IQSA Newlands S.à r.l. 100%
- IQSA Redeness 2 S.à r.l. 100%
- IQSA St. George's S.à r.l. 100%
- IQSA Stephenson House S.à r.l. 100%
- IQSA Student HoldCo S.à r.l. 100%
- Titanium Athena S.à r.l. 100%
- Westbourne Holdings S.à r.l. 100%
- Athena Properties 4 Limited 100%
- Athena Properties 5 Limited 100%
- Athena Asset 6 Limited 100%
- Athena Asset 7 Limited 100%
- GSGA II Real Estate Limited 100%
- Hermes Asset Group Limited 100%
- Hermes Asset Weston Limited 100%
- IQSA Arcade LL Limited 100%
- IQSA Century Square Limited 100%
- IQSA Chandos Limited 100%
- IQSA Elliot Edinburgh Limited 100%
- IQSA Ewer Hammersmith Limited 100%
- IQSA LB (Jersey) Limited 100%
- IQSA LPS Nottingham Limited 100%
- IQSA Paris Garden Limited 100%
- IQSA Properties Limited 100%
- IQSA Redness York Limited 100%
- IQSA TB (Jersey) Limited 100%
- Lugus Holding Limited 100%
- Titanium Bloomsbury Limited 100%
- Titanium Minority Unitholder Limited 100%
- Westbourne Portfolio Limited 100%
- iQ Shoreditch Unit Trust 100%
- iQ Unit Trust 100%
Significant events
- “During the year, the Group extended two facilities being the £75.0m and £63.7m to August 2026 and November 2026 respectively. These facilities together with the facility of £372.6m were successfully refinanced in April 2026, with an initial term to 15 May 2028, excluding extension options, which is well beyond the Going Concern Period.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 7 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 7 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| SCOTT, Duncan | Secretary | 2020-02-19 | 2023-04-03 |
| DAVIES, Simon David Austin | Director | 2020-02-19 | 2022-07-22 |
| KATAKY, Gemma Nandita | Director | 2020-02-19 | 2023-02-24 |
| MORTIMER, James Neil | Director | 2021-07-30 | 2026-04-30 |
| MORTON, Emma Jane | Director | 2020-02-19 | 2021-07-30 |
| VASHI, Rachana Gautam | Director | 2023-02-24 | 2025-05-16 |
| VRANA, Michael David | Director | 2020-02-19 | 2025-05-16 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Stephen Allen Schwarzman | Individual | Significant influence | 2020-02-19 | Ceased 2021-11-23 |
| Capella Uk Holdco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-02-19 | Active |
Filing timeline
Last 20 of 53 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-03-28 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-28 | AA | accounts | Accounts with accounts type full | |
| 2026-05-01 | AP01 | officers | Appoint person director company with name date | |
| 2026-04-30 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-27 | 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 no updates | |
| 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 | |
| 2024-07-19 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-04-11 | AA | accounts | Accounts with accounts type full | |
| 2024-03-28 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2024-03-28 | SH20 | capital | Legacy | |
| 2024-03-28 | CAP-SS | insolvency | Legacy | |
| 2024-03-28 | RESOLUTIONS | resolution | Resolution | |
| 2024-03-04 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-02-19 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
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.