PEARL GROUP SERVICES LIMITED

• ⚠

  Material uncertainty over going concern

  As noted above, the Company ceased trading following the transfer of its servicing activities to PGMS. The Directors have therefore considered it appropriate to adopt an 'other than going concern' basis of preparation for the financial statements. A description of this basis is set out in note 1(a) 'Basis of preparation' to the financial statements.

1. PEARL GROUP SERVICES LIMITED 2005-10-10 → present
2. PGS 2 LIMITED 2005-08-31 → 2005-10-10

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

KPMG LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“As noted above, the Company ceased trading following the transfer of its servicing activities to PGMS. The Directors have therefore considered it appropriate to adopt an 'other than going concern' basis of preparation for the financial statements. A description of this basis is set out in note 1(a) 'Basis of preparation' to the financial statements.”

Significant events

• “As part of the Group initiative to consolidate the servicing activities of the Group, on 1 October 2023, the Company transferred to Phoenix Group Management Services Limited ('PGMS'), a fellow Phoenix Group subsidiary, all its servicing activities for £1 consideration and ceased trading. The principal activity of the Company from 1 October 2023 is that of an investment company. This will continue to be the principal activity for the foreseeable future. The company held the legal title of a portfolio of residential equity release mortgages. The legal title of these mortgages was transferred to Standard Life Lifetime Mortgages Limited... on 18 July 2024. Following this transfer, an application for deauthorisation of the Company's current regulatory permissions to carry out financial intermediation activities will be made.”

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

Filings

8

last 12 months

Capital events

0

last 24 months

Officers appointed

1

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

  -100%

  £91,445,016 → £0

• Cash

  +89.9%

  £20,001 → £37,991

• Net assets

  +26.6%

  £20,001 → £25,317

• Employees

  —

  Not reported

• Profit before tax

  +100%

  -£16,089,513 → £421

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