UK Companies House feature
WOLF RECEIVABLES FINANCING 3 PLC
Profile
- Company number
- 15073494
- Status
- Active
- Incorporation
- 2023-08-15
- Last accounts made up
- 2024-12-31
- Account category
- FULL
- Primary SIC
- 64999
- Hubs
- UK Fintech
Accounts
Pending extraction
Audit & accounting basis
From AI-extracted PDF accounts
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Ecovis Wingrave Yeats LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have concluded that should there be an economic downturn drastic enough to materially impair revenue receipts from the portfolio of Receivables, the credit enhancement provided to the Company is sufficient to cover the coupon interest due on the Senior Loan and Junior Loan and the expense obligations of the Company for a period in excess of 12 months following the date of approval of the annual report and financial statements. As at 31 December 2024 and at the date of signing, the Company is expecting to receive cash flows which are considerably higher than the Company's current and future liabilities. As at 31 December 2024, the cashflows expected to be received by the Company for the next 12 months are £37.6m. At this date, £36.7m Senior Loan was repaid in current period and the outstanding Senior Loan was £82.5m. £27.0m Senior loan is expected to be repaid in the next 12 months. In assessing whether the going concern basis is appropriate to adopt, the directors have undertaken a review of forecast cash flow models and scenarios for a period of 12 months from the date of approval of these financial statements. Based on the above the directors believe that it remains appropriate to prepare the financial statements on a going concern basis.”
Significant events
- “The Company was incorporated on 15 August 2023 to be used as a structured financing vehicle, to acquire the beneficial interest in a portfolio of receivables and their related rights. To fund the purchase of the receivables, the Company issued two tranches of notes, Rated Senior loan and Unrated Junior loan. In December 2023, the company issued Senior Notes (the "Senior Loan") with a nominal value of £119.2m at par. Junior Notes (the "Junior Loan") with a nominal value of £126.6m were issued at a discounted price of £23.7m. On 19th December 2023, the Class A note was admitted to trading on the Euronext Dublin and the Company ("the Issuer") sold 100% of the Class A note to institutional investors, and for Lowell to purchase 100% of the Class B notes, with Lowell performing debt collection services for the Company on the portfolio assets. On 29 December 2023, 95% of Class B note was sold to Alverstone European Opportunities Designated Activity Company and Denali European Opportunities Designated Activity Company as per Class B note purchase agreement.”
Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers
People
4 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| CSC CORPORATE SERVICES (UK) LIMITED | Corporate Secretary | 2023-08-15 | — | — |
| STERNBERG, Aline | Director | 2023-08-15 | Jul 1988 | Belgian |
| CSC DIRECTORS (NO.1) LIMITED | Corporate Director | 2023-08-15 | — | — |
| CSC DIRECTORS (NO.2) LIMITED | Corporate Director | 2023-08-15 | — | — |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Metis Bidco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2023-08-15 | Active |
Filing timeline
Last 13 of 13 total filings
| Date | Type | Category | Description |
|---|---|---|---|
| 2025-10-13 | AA | accounts | accounts with accounts type full |
| 2025-09-04 | CS01 | confirmation-statement | confirmation statement with no updates |
| 2025-02-06 | PSC05 | persons-with-significant-control | change to a person with significant control |
| 2025-01-30 | PSC05 | persons-with-significant-control | change to a person with significant control |
| 2024-12-09 | AD01 | address | change registered office address company with date old address new address |
| 2024-08-27 | CS01 | confirmation-statement | confirmation statement with no updates |
| 2024-08-27 | CS01 | confirmation-statement | confirmation statement with no updates |
| 2023-12-22 | MR01 | mortgage | mortgage create with deed with charge number charge creation date |
| 2023-12-20 | MR01 | mortgage | mortgage create with deed with charge number charge creation date |
| 2023-12-01 | AA01 | accounts | change account reference date company current extended |
| 2023-09-22 | CERT8A | incorporation | legacy |
| 2023-09-22 | SH50 | reregistration | application trading certificate |
| 2023-08-15 | NEWINC | incorporation | incorporation company |
Credit score
Altman Z″ — composite of working capital, retained earnings, EBIT, and leverage
Activity Score
Filings velocity, capital events, officer churn, accounts trajectory