TESCO CORPORATE TREASURY SERVICES PLC
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Next accounts due
2026-08-26 (in 3mo)
Last filed for 2025-02-22
Confirmation statement due
2026-06-22 (in 1mo)
Last made up 2025-06-08
Watchouts
None on the register
Cash
£53M
+71% vs 2024
Net assets
£1B
+7.3% vs 2024
Employees
0
Average over period
Profit before tax
£70M
+22.8% vs 2024
Net assets
2-year trend · vs Industrials median
Accounts
2-year trend · latest reflected 2025-02-22
| Metric | Trend | 2024-02-24 | 2025-02-22 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | -£5,000,000 | -£4,000,000 | |
| Profit before tax | £57,000,000 | £70,000,000 | |
| Net profit | £57,000,000 | £70,000,000 | |
| Cash | £31,000,000 | £53,000,000 | |
| Total assets less current liabilities | £6,540,000,000 | £7,462,000,000 | |
| Net assets | £969,000,000 | £1,040,000,000 | |
| Equity | £969,000,000 | £1,040,000,000 | |
| 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 | 2024-02-24 | 2025-02-22 |
|---|---|---|---|
| Return on capital employed | -0.1% | -0.1% | |
| Gearing (liabilities / total assets) | 90.3% | 90.0% | |
| Current ratio | 0.86x | 1.06x | |
| Interest cover | -0.01x | -0.01x |
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 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing these financial statements and therefore continues to adopt the going concern basis in preparing the annual financial statements. The going concern basis has been adopted based on the expectation that it is not the current intention of any other Group company to withdraw funding. In addition, the Company has access to a multi-currency £2.5bn undrawn revolving facility maturing in 2027. The Directors have had regard to the risk factors which arise from other risks outlined in the Strategic Report, this includes the recoverability of loans.”
Group structure
- TESCO CORPORATE TREASURY SERVICES PLC · parent
- Tesco Corporate Treasury Services Europe Designated Activity Company 1%
Significant events
- “On 22 May 2024 the Company issued a £350m MTN maturing 2034; and on 1 July 2024 repaid the €473m MTN.”
- “After the reporting period the Company issued a €500m MTN, maturing in May 2032 and repaid the £400m MTN which matured in May 2025.”
- “On the 28 April 2025 the Company issued a €500m MTN paying a coupon of 3.375% maturing in May 2032 and repaid a £400m MTN on 2 May 2025. On the 7 May 2025 there was a £315m loan repayment by TCTS PLC to Tesco Personal Finance Limited.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
5 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HARDY, Wendy Louise | Secretary | 2025-10-03 | — | — |
| HENLEY, Andrew | Director | 2023-05-26 | Jan 1984 | British |
| NAWAZ, Imran | Director | 2021-05-01 | Sep 1973 | Luxembourger |
| VOWLES, Natasha | Director | 2024-11-14 | May 1986 | British |
| TESCO SERVICES LIMITED | Corporate Director | 2013-07-30 | — | — |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| O'KEEFE, Helen | Secretary | 2013-07-30 | 2015-10-07 |
| THOMSON, Sara | Secretary | 2015-10-07 | 2025-09-26 |
| HEYWOOD, Lynda Jane | Director | 2016-08-11 | 2023-05-26 |
| IDDON, Michael James | Director | 2014-02-05 | 2014-08-29 |
| LLOYD, Jonathan Mark | Director | 2013-07-30 | 2015-01-15 |
| MARSH, Adrian Ross Thomas | Director | 2013-07-30 | 2013-09-23 |
| RAO, Shubhi Suryaji | Director | 2015-01-15 | 2016-04-08 |
| STEWART, Alan James | Director | 2014-11-11 | 2021-04-30 |
| SURDEAU, David Wayne | Director | 2014-08-29 | 2015-10-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tesco Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Active |
Filing timeline
Last 20 of 59 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-06 | AP03 | officers | Appoint person secretary company with name date | |
| 2025-09-26 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-08-13 | AA | accounts | Accounts with accounts type full | |
| 2025-06-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-13 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2024-11-19 | AP01 | officers | Appoint person director company with name date | |
| 2024-08-20 | AA | accounts | Accounts with accounts type full | |
| 2024-06-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-02-02 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2023-08-15 | AA | accounts | Accounts with accounts type full | |
| 2023-06-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-07 | TM01 | officers | Termination director company with name termination date | |
| 2023-06-06 | AP01 | officers | Appoint person director company with name date | |
| 2022-08-25 | AA | accounts | Accounts with accounts type full | |
| 2022-06-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-09-23 | AA | accounts | Accounts with accounts type full | |
| 2021-06-22 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-05-11 | TM01 | officers | Termination director company with name termination date | |
| 2021-05-10 | AP01 | officers | Appoint person director company with name date | |
| 2021-01-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
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
FY2024 → FY2025 · period ending 2025-02-22 vs 2024-02-24
-
Turnover
—
Not reported
-
Cash
+71%
£31,000,000 £53,000,000
-
Net assets
+7.3%
£969,000,000 £1,040,000,000
-
Employees
—
Not reported
-
Operating profit
+20%
-£5,000,000 -£4,000,000
-
Profit before tax
+22.8%
£57,000,000 £70,000,000
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