SPRING FINANCIAL GROUP 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

Consolidated group

Auditor

Azets Audit Services Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“Given recent market conditions and exposure to Market Risk, the Directors acknowledge uncertainty exists as to achieving future revenue and net cashflow targets. However, renegotiation of commercial terms for the principal mortgage origination deal has significantly increased revenues. The firm's costs are tightly controlled, with no need for external investment during the period and no current plans for further fundraising. The latest forecast indicates a cash runway exceeding 12 months. Therefore, the Directors believe Going Concern is the appropriate basis for preparing the financial statements.”

Group structure

1. SPRING FINANCIAL GROUP LIMITED · parent
   1. MQube Technology Ltd 100% · England and Wales · acts as the counterparty in commercial software licencing agreements in respect of its parent company's mortgage platform.

Significant events

• “The first Software as a Service deal was signed and went live in 2024.”
• “cumulative mortgage originations under the MPowered brand reached £1bn overall.”
• “Renegotiated commercial terms on a key mortgage origination deal.”
• “Increased mortgage completion volumes.”
• “A total loan book surpassing £1 billion.”
• “Investment in cloud infrastructure and marketing to support the business growth.”

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

Filings

3

last 12 months

Capital events

0

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

  +378%

  £1,555,114 → £7,434,118

• Cash

  -35.4%

  £8,614,581 → £5,567,688

• Net assets

  -39.5%

  £8,776,230 → £5,312,282

• Employees

  +12.1%

  66 → 74

• Operating profit

  +47.4%

  -£7,543,103 → -£3,969,316

• Profit before tax

  +50%

  -£7,404,406 → -£3,704,995

• Wages

  +13.1%

  £3,890,165 → £4,401,155

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