UBS ASSET MANAGEMENT LIFE LTD

1. UBS ASSET MANAGEMENT LIFE LTD 2015-10-30 → present
2. UBS GLOBAL ASSET MANAGEMENT LIFE LTD 2002-04-08 → 2015-10-30
3. PHILLIPS & DREW LIFE LIMITED 1998-04-01 → 2002-04-08
4. PDFM LIFE LIMITED 1996-11-19 → 1998-04-01

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

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have a reasonable expectation that the Company has adequate resources to continue operating for at least a year from the date when the financial statements are signed. The Company carries out an ongoing own risk assessment process which assesses available resources to ensure they are sufficient to manage the risk the Company is currently and could be exposed to. For this reason, the Directors continue to adopt the going concern basis in preparing the financial statements.”

Significant events

• “On 19 March 2023, Credit Suisse Group and UBS Group AG entered into an agreement and plan of merger ("the merger") which legally closed on 12 June 2023. Credit Suisse Asset Management does not carry out any unit-linked investment activity in the UK, hence, the integration of the Credit Suisse business is expected to have no direct impact on current or future operations and financial performance of Life Ltd.”
• “During 2024 audit, it was identified that the Company had incorrectly recognised revenue since 2021 from a client that had contracted out of Life Funds to a mandate contracted by another AM UK Group Company. Therefore, the Company has overstated its revenue for the periods from 2021 to 2023, resulting in an overstated profit for the year and overstated its net assets as at the reporting date. The correction is made in the year 2023 comparatives by reducing the commission income, accounting for its tax impact and, recognising a payable to the group subsidiary company and reversing any receivables for that commission income.”

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

  +35%

  £3,614,000 → £4,879,000

• Cash

  +38.4%

  £5,967,000 → £8,261,000

• Net assets

  +9.4%

  £22,168,000 → £24,246,000

• Employees

  —

  Not reported

• Profit before tax

  +146%

  £1,123,000 → £2,763,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers