INDUSTRIAL COMMON OWNERSHIP FINANCE LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

• ◆

  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

FRS 102 §1A

Reporting scope

Consolidated group

Abridged

Yes — abridged accounts (limited disclosure)

Auditor

Third Sector Accountancy Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors consider that the company holds sufficient cash and general reserves as set out in the Going Concern policy (see Note 1(b)); and therefore, will continue as a going concern for a period of at least 12 months from the date on which these financial statements. Furthermore, the directors believe that the prospects of the business are positive given: The pipeline for lending is strong in 2025; We continue to work with our partners delivering the Flex Fund and ERF programme, back office and consultancy work; We have a unique relationship with our clients which enables a high level of communication so that they are working with us to mitigate the effects on the portfolio; and Along with other social lenders and the co-operative movement we are making clients aware of the help that is available from government, including loans, guarantees, tax relief, cash grants and deferred VAT payments. The directors therefore consider it appropriate to adopt the going concern basis of preparation of the accounts, as detailed in note 1(b) to the financial statements.”

Group structure

1. INDUSTRIAL COMMON OWNERSHIP FINANCE LIMITED · parent
   1. Industrial Common Ownership Fund Plc 100%

Significant events

• “Our primary purpose is to help more people take control of their economic lives. This is achieved, mainly through the provision of loan finance and business advice to enable people to own and control the businesses in which they work or operate in their own communities.”
• “In 2024 we saw modest lending from our own funds as much of our resource was used deliver our partnership initiatives with Social Investment Business (SIB) through the Thrive Fund and the Access Foundation delivering the Flex Fund. Between them they accounted for £750,000 of lending in 2024 and levered in grant funding.”
• “The group had a very good year, generating an operational profit of £6,434 with income and expenses on budget. Notable items on the balance sheet include Ltd loan balances of £1,963,000. The net assets at year end was £2,593,919.”
• “There were no lending losses in 2024.”
• “A blended finance programme to provide patient and flexible social investment for organisations post-Covid with the capital provided by Access - The Foundation for Social Investrnent Business. It is a fund that supports Community Share projects in undeserves areas with matching equity in the form of community share purchases, with additional debt finance alongside where needed. The fund is also trialling a new product, providing up-front finance coverage for "subscription shares", where individuals who can't afford a lump.sum can purchase their share in instalments over the course of a year.”

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

Filings

13

last 12 months

Capital events

0

last 24 months

Officers appointed

4

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -0.3%

  £391,470 → £390,330

• Cash

  +9.5%

  £2,359,017 → £2,583,135

  highest in 3 filed years

• Net assets

  +0.2%

  £2,587,485 → £2,593,921

• Employees

  0%

  4 → 4

• Operating profit

  -51%

  £42,851 → £21,011

  first positive since 2022

• Profit before tax

  -67.5%

  £19,832 → £6,436

  first positive since 2022

• Wages

  +7.7%

  £205,607 → £221,421

  highest in 3 filed years

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