ALBA 2005-1 PLC

• ⚠

  Material uncertainty over going concern

  Whilst there is no legal obligation for the notes to be redeemed, the directors are of the opinion that this poses a material uncertainty that may cast a significant doubt on the Company's ability to continue as a going concern. As such, the directors have elected to prepare the financial statements on a going concern basis with material uncertainty.

1. ALBA 2005-1 PLC 2005-09-19 → present
2. SEQUINGRANGE PLC 2005-08-10 → 2005-09-19

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

Reporting scope

Standalone (parent only)

Auditor

Ecovis Wingrave Yeats LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Whilst there is no legal obligation for the notes to be redeemed, the directors are of the opinion that this poses a material uncertainty that may cast a significant doubt on the Company's ability to continue as a going concern. As such, the directors have elected to prepare the financial statements on a going concern basis with material uncertainty.”

Significant events

• “On 20 May 2025 Oakwood Homeloans Limited ("OHL") formally notified the Issuer of its intention to cease to carry on its business by the end of the calendar year 2025. In connection with such cessation of its business, on 20 May 2025, OHL transferred its rights and obligations as Special Servicer and holder of legal title in respect of the PML Mortgage Loans under the applicable Transaction Documents to Topaz Finance Limited ("Topaz") as new Special Servicer and new holder of legal title to the PML Mortgage Loans.”
• “On 20 May 2025, Western Mortgage Services Limited ("WMSL") formally notified the Issuer of its intention to resign from its role as PFL Pool Servicer. In connection with such resignation, the Trustee consented to waiving the requirement for the notice of the PFL Pool Servicer's resignation to be dated at least 6 months' prior to the date on which such resignation is to be effective and, on 20 May 2025, WMSL transferred its rights and obligations as PFL Pool Servicer in respect of the PFL Mortgage Loans to Homeloan Management Limited under the applicable Transaction Documents with such transfers to take effect on 23 June 2025.”

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

2

last 12 months

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

• Turnover

  -19.7%

  £2,243,000 → £1,802,000

• Cash

  -5.1%

  £14,315,000 → £13,585,000

• Net assets

  -237.7%

  £244,000 → -£336,000

• Employees

  —

  Not reported

• Profit before tax

  -106.4%

  -£281,000 → -£580,000

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