BOS (SHARED APPRECIATION MORTGAGES) NO. 1 PLC

1. BOS (SHARED APPRECIATION MORTGAGES) NO. 1 PLC 1996-11-01 → present
2. BOS (SHARED APPRECIATION MORTGAGES) LIMITED 1996-04-26 → 1996-11-01
3. REFAL 474 LIMITED 1995-10-05 → 1996-04-26

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

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for at least 12 months from the date of approval of the accounts. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. Further details regarding the adoption of the going concern basis can be found in the note 1 to the financial statements.”

Significant events

• “In January 2021, a litigation claim was brought by, or on behalf of, a number of customers against Bank of Scotland plc and some of its subsidiary undertakings which had issued shared appreciation mortgages, including the Company. The claim was issued in the County Court and was brought under the unfair relationship provisions of the Consumer Credit Act 1974. On 23 January 2024, the Claimants and Bank of Scotland plc (and the other Defendants, including the Company) agreed a commercial settlement of this litigation, without any admission of liability. The terms of the settlement agreement are confidential. There are no changes to the mortgages, or their terms and conditions. Following the settlement in January 2024, the Directors have concluded that no provision is required against this claim in the Company's financial statements as Bank of Scotland plc has borne the costs of this settlement. Should further claims arise, the directors have considered the contractual arrangements between the Bank of Scotland and the Company and that Bank of Scotland plc can meet any associated costs or liabilities (if any) which may become due. No reimbursement will be made to the Bank of Scotland for such costs or liabilities. Since the settlement on 23 January 2024, the Company has received a number of new pre-action claims.”

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

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

2

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

  —

  Not reported

• Cash

  +112.6%

  £471,022 → £1,001,158

• Net assets

  -1.7%

  £847,830 → £833,418

• Employees

  —

  Not reported

• Profit before tax

  -343.3%

  -£4,335 → -£19,215

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