Auditors of the property tycoon Robert Tchenguiz's UK investment vehicle have questioned its ability to continue as a going concern. In company accounts published this week, his company R20 has experienced a £27m loss from interest rates swaps and other financial instruments, The Guardian reports. Baker Tilly, which signed off the figures last month, said that as of May 2007 the loss-making company's liabilities, which predate and don't account for the £27m loss, exceed its assets by £2.5m. In a statement last month Baker Tilly said: 'These conditionsindicate the existence of a material uncertainty, which may cast significant doubt about the company's ability to continue as a going concern.' But director of R20 Tim Smalley said that Tchenguiz's offshore trusts would continue to fund R20. He said the auditors cast doubt on the firm as a going concern as a precaution in case such funding support was withdrawn in the future. 'The auditors have to look forward. Obviously you can't get visibility on what the Tchenguiz Discretionary Trust is doing over the next five to 10 years. But there is no doubt that there are sufficient funds available for R20,' Smalley said.