LUDLOW TRUST COMPANY (SOUTHAMPTON) LIMITED

• ⚠

  Material uncertainty over going concern

  The directors of HTCU understand that the immediate parent of the company is in negotiations to sell its share holding to a third party. The completion of the sale is outside the control of the directors and at the discretion of the parent undertaking and the potential buyer. The directors' do not have access to the proposed operational plans of the potential buyer. This indicates a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.

• ◆

  1 PSC ceased in last 24 months

  Significant control changed hands — see the Ownership section.

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

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.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors of HTCU understand that the immediate parent of the company is in negotiations to sell its share holding to a third party. The completion of the sale is outside the control of the directors and at the discretion of the parent undertaking and the potential buyer. The directors' do not have access to the proposed operational plans of the potential buyer. This indicates a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.”

Group structure

1. LUDLOW TRUST COMPANY (SOUTHAMPTON) LIMITED · parent
   1. Midland Nominees Limited 100% · United Kingdom
   2. Turnsonic (Nominees) Limited 100% · United Kingdom
   3. St. Cross Trustees Limited 100% · United Kingdom
   4. HSBC Executor and Trustee (UK) Limited 100% · United Kingdom

Significant events

• “As of the 01 February 2025 all pensions related business has been sold to the parent company HSBC UK Bank pic at net book value.”
• “On 5 February 2025 HTCU have issued and fully allotted and additional 49,999 new shares at a nominal rate of £5 per share to its immediate parent undertaking HSBC UK plc. The Total paid up share capital increased to £100,000.”
• “A dividend of £9,900,000 was agreed by the board on 18th February 2025.”

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

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

1

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.

• Turnover

  +4%

  £2,049,000 → £2,130,000

• Cash

  -1.5%

  £18,378,000 → £18,099,000

• Net assets

  +0.5%

  £10,278,000 → £10,328,000

• Employees

  —

  Not reported

• Operating profit

  +131.6%

  £98,000 → £227,000

• Profit before tax

  +131.6%

  £98,000 → £227,000

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