SANTANDER CARDS UK LIMITED

• ⚠

  Material uncertainty over going concern

  The financial statements have been prepared on an other than going concern basis using the historical cost convention. Because the Company no longer trades and holds these contingent liabilities, the financial statements have therefore been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the entity's assets to net realisable value.

1. SANTANDER CARDS UK LIMITED 2009-05-27 → present
2. GE CAPITAL BANK LIMITED 1997-07-28 → 2009-05-27
3. THE FIRST PERSONAL BANK PLC 1989-05-09 → 1997-07-28
4. WELBECK FINANCE PLC 1983-06-26 → 1989-05-09
5. WELBECK FINANCE LIMITED 1979-12-10 → 1983-06-26
6. HACKREMCO (NO.18) LTD 1979-10-23 → 1979-12-10

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 financial statements have been prepared on an other than going concern basis using the historical cost convention. Because the Company no longer trades and holds these contingent liabilities, the financial statements have therefore been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the entity's assets to net realisable value.”

Group structure

1. SANTANDER CARDS UK LIMITED · parent
   1. Santander Global Consumer Finance Limited 1% · England and Wales
   2. Santander Consumer Credit Services Limited 1% · England and Wales
   3. Santander Cards Limited 1% · England and Wales
   4. First National Tricity Finance Limited 1% · England and Wales
   5. Santander Cards Ireland Limited 1% · Ireland
   6. Time Retail Finance Limited 1% · England and Wales

Significant events

• “The Court Judgement handed down on 25 July 2025 regarding a claim by AXA France, resulted in the Company settling part of the claimant's legal costs during August 2025.”
• “In October 2025, Santander Insurance Services UK Limited obtained permission to appeal the judgment from the Court of Appeal.”
• “On 23 April 2025, Time Retail Finance Limited, a subsidiary of the Company was dissolved.”
• “In December 2025, both the Company (as lender) and Santander Consumer Credit Services Limited agreed to a partial waiver of the loan due to the Company for £36,500,000.”

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

Filings

3

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  —

  Not reported

• Cash

  -17.5%

  £69,358,286 → £57,207,957

• Net assets

  -18.6%

  £137,965,196 → £112,264,583

• Employees

  —

  Not reported

• Operating profit

  -1,142.8%

  £2,357,944 → -£24,588,174

• Profit before tax

  -1,142.8%

  £2,357,944 → -£24,588,174

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