KEY RETIREMENT SOLUTIONS LIMITED

1. KEY RETIREMENT SOLUTIONS LIMITED 2001-04-20 → present
2. COUNTRYWIDE ASSURED RETIREMENT SERVICES LIMITED 1998-12-31 → 2001-04-20
3. HA RETIREMENT SERVICES LIMITED 1998-12-16 → 1998-12-31
4. COSWORTH LIMITED 1990-01-09 → 1998-06-08

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 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The financial statements have been prepared on the going concern basis as the Directors have a reasonable expectation that the Company has adequate resources for a period of at least 12 months from the date of signing the financial statements.”

Group structure

1. KEY RETIREMENT SOLUTIONS LIMITED · parent
   1. Equity Release Assured Limited 100% · Great Britain
   2. Home Equity Release Service Limited 100% · Great Britain
   3. Key Secured Lending Limited 100% · Great Britain
   4. The Retirement Lending Advisers Limited 100% · Great Britain
   5. Modern Lending Advisers Limited 100% · Great Britain
   6. TERE Advisers Ltd 100% · Great Britain
   7. Key Advice Solutions Limited 100% · Great Britain

Significant events

• “The announcement of the UK General Election in the summer of 2024, coupled with the anticipated tough Chancellor's Budget in the autumn, followed by the US Presidential Election led customers to defer their decisions on extracting equity from their homes.”
• “Interest Reward and Interest Served products were launched, aimed at customers who can continue to pay some interest towards their LLL mortgage whilst perhaps still earning, then converting to a traditional ER mortgage at the point that they are unable to continue to contribute (i.e. retirement).”
• “During 2024 the Group has been developing a new suite of Later life lending (LLL) products which support those customers who previously could not be adequately served by either the traditional equity release or residential mortgage market. These products which were launched in January 2024”

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

  -43.1%

  £19,272,000 → £10,974,000

• Cash

  -49.3%

  £936,000 → £475,000

• Net assets

  —

  Not reported

• Employees

  -39.1%

  169 → 103

• Operating profit

  +112%

  -£725,000 → £87,000

• Profit before tax

  -95.4%

  £2,199,000 → £102,000

• Wages

  -38.5%

  £7,705,000 → £4,737,000

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