UK MUNICIPAL BONDS AGENCY LTD

• ⚠

  Material uncertainty over going concern

  Doubts over the occurrence and timing of further bond issuances, and the requirement for the continued provision of necessary working capital support, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.

• ◆

  4 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Blick Rothenberg Audit LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Doubts over the occurrence and timing of further bond issuances, and the requirement for the continued provision of necessary working capital support, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern.”

Significant events

• “On 3 February 2025, the Company wrote to shareholders setting out the intention to reduce business activities to supporting the bonds in issue, but not to seek new business, due to the ongoing lack of demand.”
• “On 5 March 2025, the UKMBA gained agreement from the LGA Board to reduce £293k of liabilities, and to restructure the convertible loan arrangement, while rescinding the existing 2018 Letter of Comfort, to be replaced by a new Agreement.”
• “On 31 March 2025, the contract with PFM for the provision of front-office services expired.”
• “On 20 March 2025 the first £350 million 5-year Floating Rate Note bond issued by Lancashire County Council was completed.”

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

Filings

11

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

4

last 12 months

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