OAKBROOK FINANCE LIMITED

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

BURGESS HODGSON LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. OAKBROOK FINANCE LIMITED · parent
   1. Oakbrook Capital (I) Plc · United Kingdom · Securitisation vehicle
   2. Oakbrook Capital 2 Limited · United Kingdom · Securitisation vehicle

Significant events

• “During 2022 and 2023, and similar to many companies, the business was impacted by the worsening UK macro-economic conditions. Inflation impacted consumer disposable incomes. Interest rates were increased in response to inflation and the rising borrowing costs further affected consumer finances as well as the business' own cost of funds.”
• “In September 2022, management announced a redundancy program to focus the business purely on existing products as the economic environment was not suitable for the launch of new products. The program was substantially completed by the end of December 2022, affecting approximately 80 colleagues. In May 2023, management announced a further redundancy program to outsource roles to lower cost locations in India and South Africa. This program was substantially completed by the end of December 2023, affecting approximately 50 colleagues.”
• “Also in September 2022, the company reduced lending to new customers to conserve cash during this period of macro-economic volatility and the loan book began to contract with cash collections from existing customers larger than the monthly disbursals to new and existing customers. Following this period of retrenchment, the group returned to lending growth in mid-2023, with the loan book returning to growth in September 2023, and the company has largely maintained these lending levels throughout 2024. Overall, lending values decreased year on year by 7.4% in 2024 to £117.0m, (2023: £126.3m).”
• “The Near Prime lending facility was successfully amended in August 2024 to provide senior facilities of £90m together with mezzanine facilities of £15m allowing the group to execute its continued growth plans in this market segment.”
• “As a result of the larger loan book brought forward into the year versus the prior year, and the higher lending volumes in year, revenue increased year on year by 8.7% to £45.9m (2023: £42.3m). As a result of increased revenues and operating costs, the company loss after taxation decreased year on year by 56.6% to £5.8m (2023: £13.4m).”
• “Following an agreement with one of its lenders to suspend interest charges relating to 2023 and 2024, exceptional other operating income includes £11,918,000 (2023: £nil) relating to a credit of interest charges, of which £3,951,000 relates to 2023.”
• “A prior period error was identified for the year ended 31st December 2023 in respect of the treatment of direct costs incurred on the arrangement of new loans being incorrectly recognised. The net effect of these errors totals to an addition £1,899,267 of commission costs and a decrease in loans and advances by the same amount.”
• “During the year, the company issued 1,000,000 ordinary shares at a subscription price of £10 per share, the date of issuance was 13 November 2024.”
• “Between January and May 2025 the group successfully restructured £21.9m of its subordinated borrowings through refinancing those outstanding debts with subordinated borrowings from the majority shareholders and putting in place an interest suspension on these borrowings to reduce the ongoing interest costs.”

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

2

last 24 months

Officers appointed

0

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

  +8.7%

  £42,255,000 → £45,917,000

• Cash

  +121.4%

  £2,637,000 → £5,838,000

• Net assets

  +16.6%

  -£25,073,000 → -£20,907,000

• Employees

  -40.9%

  66 → 39

• Operating profit

  +56.8%

  -£13,442,000 → -£5,801,000

• Profit before tax

  +56.7%

  -£13,442,000 → -£5,825,000

• Wages

  +18.2%

  £4,108,000 → £4,855,000

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