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for the year ended 31 December 2024
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Registered number: 08956448
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BMR-UK Developer Limited - Registered number: 08956448
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Statement of financial position
As at 31 December 2024
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Capital contribution reserve
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 6 form part of these financial statements.
Page 1
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Statement of changes in equity
For the year ended 31 December 2024
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Capital contribution reserve
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Comprehensive income for the year
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Comprehensive income for the year
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Contributions by and distributions to owners
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Amounts contributed during the year
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Shares issued during the year
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Appropriation of capital contribution as share capital
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Shares cancelled during the year
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Shares cancelled during the year
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The notes on pages 3 to 6 form part of these financial statements.
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Page 2
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Notes to the financial statements
For the year ended 31 December 2024
BMR-UK Developer Limited is a private company limited by shares and incorporated in England and Wales. The registered office of the company is 130 Wood Street, London, EC2V 6DL and the principal place of business is The McClintock Building, Granta Park, Great Abington, Cambridge, CB21 6GP. The registered number is 08956448.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company has sufficient liquid resources to continue as a going concern for the foreseeable future
and the directors believe the company will be able to meet its liabilities as they fall due for at least
twelve months from the date of approval of these financial statements. Therefore the financial statements
have been prepared on a going concern basis.
Turnover represents income derived from the company's principal activity of managing development and leasing activities, and acting as the project manager and administrator at Granta Park, Cambridge Science Park, Babraham Research Campus and Cambridge International Technology Park.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in
accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of turnover can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably: and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Page 3
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Page 4
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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The average monthly number of employees during the year was 6 (2023 - 6).
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Amounts owed by group undertakings
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Page 5
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Notes to the financial statements
For the year ended 31 December 2024
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Creditors: amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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The company has updated its allocation of certain personnel costs and costs of services to better reflect its true cost of sales and gross profit margin. The net impact of this prior year restatement has increased cost of sales and decreased administrative expenses by £1,211,022 in the year ended 31 December 2023. There is £nil impact on the company’s profit for the year and £nil impact on the company’s total equity.
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Payments were made by the company to the fund during the year and amounted to £73,904 (2023: £65,767). There were no outstanding contributions payable to the fund at 31 December 2024 or 31 December 2023.
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Related party transactions
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During the year, the company earned revenue of £84,827 (2023: £763,439), from BMR/BRCL Propco Limited, a related party by nature of being in the same group of companies.
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Inclusion in consolidated financial statements
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BioMed Realty, L.P. is the parent company of the smallest group of which the company is a member
and for which group financial statements are prepared. The registered office of BioMed Realty, L.P. is
7 St. Paul Street, Suite 820, Baltimore MD, 21202, United States of America.
The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 29 September 2025 by Thomas Allison (Senior statutory auditor) on behalf of Buzzacott Audit LLP.
Page 6
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