USAF ISSUER HOLDINGS II LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-05-28 (this month)
Last made up 2025-05-14
Watchouts
Cash
£254K
-93.9% vs 2023
Net assets
£253K
-18.1% vs 2023
Employees
0
Average over period
Profit before tax
-£56K
-186.2% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
On 30 June 2025, in line with their Expected Maturity Date, the Tranche 2 Commercial £395m Mortgage-backed fixed rate notes ("The Notes") were repaid in full. As a result of the repayment of The Notes, and the intention to wind the Company down given no intention of future trading, the financial statements have been prepared on a basis other than going concern.
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | £21,035,000 | £15,435,000 | |
| Profit before tax | £65,000 | -£56,000 | |
| Net profit | £65,000 | -£56,000 | |
| Cash | £4,181,000 | £254,000 | |
| Total assets less current liabilities | £397,085,000 | £397,083,000 | |
| Net assets | £309,000 | £253,000 | |
| Equity | £309,000 | £253,000 | |
| Average employees | 0 | 0 | |
| Wages | — | — |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Return on capital employed | 5.3% | 3.9% | |
| Current ratio | 1.08x | 1.00x | |
| Interest cover | 1.00x | 1.00x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“On 30 June 2025, in line with their Expected Maturity Date, the Tranche 2 Commercial £395m Mortgage-backed fixed rate notes ("The Notes") were repaid in full. As a result of the repayment of The Notes, and the intention to wind the Company down given no intention of future trading, the financial statements have been prepared on a basis other than going concern.”
Group structure
- USAF ISSUER HOLDINGS II LIMITED · parent
- UNITE (USAF) II plc 100%
Significant events
- “On 30 June 2025, in line with their final maturity date, the Tranche 2 Commercial £395m Mortgage-backed fixed rate notes were repaid in full. Therefore, the directors do not expect to continue to carry out these activities in the future. The entity to be wound down in the future.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 3 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| APEX TRUST CORPORATE LIMITED | Corporate Secretary | 2014-01-17 | — | — |
| MARTIN, Sean Peter | Director | 2024-01-31 | Feb 1965 | British |
| APEX CORPORATE SERVICES (UK) LIMITED | Corporate Director | 2013-05-14 | — | — |
| APEX TRUST CORPORATE LIMITED | Corporate Director | 2013-05-14 | — | — |
Show 3 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CAPITA TRUST SECRETARIES LIMITED | Corporate Secretary | 2013-05-14 | 2014-01-17 |
| BENFORD, Colin Arthur | Director | 2014-07-11 | 2024-01-31 |
| GLENDENNING, Paul | Director | 2013-05-14 | 2014-07-11 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Apex Trust Nominees No. 1 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 58 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-07-10 | AA | accounts | Accounts with accounts type group | |
| 2025-05-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-11-26 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-11-26 | CH02 | officers | Change corporate director company with change date | |
| 2024-11-26 | CH04 | officers | Change corporate secretary company with change date | |
| 2024-11-25 | CH02 | officers | Change corporate director company with change date | |
| 2024-11-18 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-07-30 | AA | accounts | Accounts with accounts type group | |
| 2024-05-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-02-02 | AP01 | officers | Appoint person director company with name date | |
| 2024-01-31 | TM01 | officers | Termination director company with name termination date | |
| 2023-07-24 | AA | accounts | Accounts with accounts type group | |
| 2023-05-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-03-22 | CH02 | officers | Change corporate director company with change date | |
| 2023-03-22 | CH04 | officers | Change corporate secretary company with change date | |
| 2023-03-22 | CH02 | officers | Change corporate director company with change date | |
| 2023-03-22 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2023-03-20 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-05-27 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-05-27 | AA | accounts | Accounts with accounts type group |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
—
Not reported
-
Cash
-93.9%
£4,181,000 £254,000
-
Net assets
-18.1%
£309,000 £253,000
-
Employees
—
Not reported
-
Operating profit
-26.6%
£21,035,000 £15,435,000
-
Profit before tax
-186.2%
£65,000 -£56,000
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