THE MERCANTILE INVESTMENT TRUST PLC
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Next accounts due
2027-07-31 (in 1y)
Last filed for 2026-01-31
Confirmation statement due
2026-05-29 (this month)
Last made up 2025-05-15
Watchouts
None on the register
Cash
£287K
-98.6% vs 2025
Net assets
£2B
+0.1% vs 2025
Employees
—
Average over period
Profit before tax
£66M
-5.3% vs 2025
Name history
Renamed 3 times since incorporation
- THE MERCANTILE INVESTMENT TRUST PLC 2008-04-30 → present
- JPMORGAN FLEMING MERCANTILE INVESTMENT TRUST PLC 2004-06-07 → 2008-04-30
- FLEMING MERCANTILE INVESTMENT TRUST PUBLIC LIMITED COMPANY (THE) 1982-06-01 → 2004-06-07
- MERCANTILE INVESTMENT TRUST PUBLIC LIMITED COMPANY(THE) 1884-12-08 → 1982-06-01
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2026-01-31
| Metric | Trend | 2025-01-31 | 2026-01-31 |
|---|---|---|---|
| Turnover | £78,223,000 | £74,443,000 | |
| Operating profit | — | — | |
| Profit before tax | £70,024,000 | £66,347,000 | |
| Net profit | £69,066,000 | £66,227,000 | |
| Cash | £20,245,000 | £287,000 | |
| Total assets less current liabilities | £2,293,512,000 | £2,295,946,000 | |
| Net assets | £1,965,468,000 | £1,967,793,000 | |
| Equity | £1,965,468,000 | £1,967,793,000 | |
| Average employees | — | — | |
| Wages | — | — |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2025-01-31 | 2026-01-31 |
|---|---|---|---|
| Net margin | 88.3% | 89.0% | |
| Gearing (liabilities / total assets) | 14.7% | 14.6% | |
| Current ratio | -5.88x | -6.39x |
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. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors confirm their reasonable expectation that the Company has adequate resources to continue in operational existence for at least a 12 month period from the date of approval of the financial statements.”
Significant events
- “Since the year end, the Company has entered into an agreement to partially repurchase £2.77 million of its £3.85 million 4.25% perpetual debenture stock, which will leave £1.08 million outstanding.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 24 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| JPMORGAN FUNDS LIMITED | Corporate Secretary | 2014-07-01 | — | — |
| BEAGLES, Rachel Anne | Director | 2021-06-01 | Feb 1968 | British |
| GOH, Julia | Director | 2023-01-01 | Jun 1968 | Singaporean |
| HOPKINS, Heather Anne | Director | 2018-07-01 | Dec 1973 | Canadian |
| KITCHEN, Graham John | Director | 2018-07-01 | Mar 1967 | British |
| MALTARP, Damien Patrick Scott | Director | 2021-06-01 | Dec 1974 | Danish |
Show 24 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| FLEMING INVESTMENT TRUST MANAGEMENT LIMITED | Corporate Secretary | — | 2000-06-01 |
| JPMORGAN ASSET MANAGEMENT (UK) LIMITED | Corporate Secretary | 2000-06-01 | 2014-07-01 |
| BANKS, William Lawrence | Director | — | 2004-06-03 |
| BECKETT, Richard Gervase, Sir | Director | 2009-09-01 | 2014-05-21 |
| BERRY, Nicholas William | Director | 1995-12-12 | 2007-05-16 |
| CAZALET, Raymond Percival St George | Director | — | 1993-10-05 |
| DENHOLM, John Ferguson, Sir | Director | — | 1994-07-05 |
| GORDON LENNOX, Angus Charles | Director | 2015-09-23 | 2025-05-22 |
| HAMBRO, Richard Alexander | Director | 2006-10-01 | 2009-04-25 |
| JAMES, Helen | Director | 2011-09-21 | 2021-05-20 |
| KESWICK, Simon Lindley | Director | — | 2007-05-16 |
| LESLIE MELVILLE, Ian Hamish, Mr. | Director | 1996-12-18 | 2017-05-24 |
| LINAKER, Laurence Edward | Director | 1994-07-05 | 2005-05-19 |
| MORLEY, Harry Michael Charles | Director | 2014-05-21 | 2023-05-24 |
| NAIRN, Alasdair Gordon Mackenzie, Doctor | Director | 2003-12-01 | 2018-05-23 |
| PATERSON, David Ronald George | Director | — | 1999-05-20 |
| PEEL, Charles Edward Willoughby | Director | 2005-10-01 | 2012-05-23 |
| REES, Peter Wynford Innes, Lord | Director | — | 1997-05-22 |
| ROTHERMERE, The Fourth Viscount | Director | 2001-11-22 | 2007-05-16 |
| RUSSELL, Ian Simon Macgregor | Director | 2007-01-01 | 2018-12-31 |
| STODDART, Peter Laurence Bowring | Director | — | 1995-12-12 |
| TIGUE, Jeremy John | Director | 2012-03-26 | 2022-05-17 |
| THE RT HON THE EARL OF HALIFAX | Corporate Director | 2007-12-05 | 2012-05-23 |
| THE RT HON VISCOUNT YOUNGER OF LECKIE | Corporate Director | 1994-07-05 | 2002-11-12 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 747 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-20 | AA | accounts | Accounts with accounts type full | |
| 2026-04-10 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-04-10 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-04-10 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-04-10 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-23 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-23 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-23 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-23 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-23 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-23 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2026-03-23 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2025-12-31 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2025-12-31 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2025-12-31 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2025-12-31 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2025-12-31 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2025-12-31 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2025-12-31 | SH03 | capital | Capital return purchase own shares treasury capital date | |
| 2025-12-31 | SH03 | capital | Capital return purchase own shares treasury capital date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 19
- Officers appointed
- 0
- 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.
Year-on-year
FY2025 → FY2026 · period ending 2026-01-31 vs 2025-01-31
-
Turnover
-4.8%
£78,223,000 £74,443,000
-
Cash
-98.6%
£20,245,000 £287,000
-
Net assets
+0.1%
£1,965,468,000 £1,967,793,000
-
Employees
—
Not reported
-
Profit before tax
-5.3%
£70,024,000 £66,347,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers