LENDCO MORTGAGE SERVICING 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

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have undertaken a going concern assessment, including a review of the performance of the company and principal and emerging risks, including those in relation to inflation, rising interest rates cost of living crisis, and assessed the prospects of the Company. At the end of the financial year the Company was in an overall net asset position due to the profitable trading and continued growth of the Company. The Company's shareholder has undertaken to provide ongoing financial support and has provided written confirmation that it will not demand repayment of the financial support provided to the Company. Given this undertaking and assurances, and after review of the Company's financial forecasts and 2024 year to date results falling in line with expectations, the Directors have reasonable grounds to believe that the Company has access to adequate financial resources to continue in operational existence for at least 12 months from the date of these financial statements.”

Significant events

• “The special purpose vehicles, Talworth Ltd and Talworth No.3 Ltd, disposed of £317m BTL loans in April 2025 as part of a planned securitisation, namely Atlas Funding 2025-1 Plc, using the proceeds in turn to substantially repay the Senior and Junior debt obligations at the same time. Talworth Ltd and Talworth No.3 Ltd will continue to replenish their loan pool post this disposal and the Mortgage Loans in all three pools will be serviced by LMSL. The Bank of England implemented two reductions in the base rate, from 4.75% to 4.50% in February 2025 and 4.50% to 4.25% in May 2025. As a result of this and market resilience despite macroeconomic factors, swap rates have been steadily driving a reduction in mortgage rates from lenders. This in turn has driven an uptick in applications being received.”

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

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

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

• Turnover

  +74.6%

  £1,219,225 → £2,128,728

• Cash

  +345.4%

  £447,245 → £1,991,811

• Net assets

  +200.9%

  £562,173 → £1,691,561

• Employees

  +50%

  2 → 3

• Operating profit

  +124.4%

  £667,095 → £1,496,827

• Profit before tax

  +124.4%

  £667,095 → £1,496,827

• Wages

  +31.3%

  £105,917 → £139,071

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