WESCOT CREDIT SERVICES LIMITED

1. WESCOT CREDIT SERVICES LIMITED 1988-11-22 → present
2. WESCOT CREDIT SERVICES (SCOTLAND) LIMITED 1983-07-28 → 1988-11-22

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 101

Reporting scope

Standalone (parent only)

Auditor

BDO LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Company's client base is primarily composed of large financial organisations and utility providers and has operated with the majority of these for a number of years, with confidence over the ongoing continuation and viability of trading. Cash balances are maintained to support the working requirements of the business, with surplus funds loaned to other group entities under short term repayment dates and an ability to recall funds on demand where needed to manage cash flow requirements, providing significant funding availability that provides the directors with confidence that the Company has adequate resources to continue in operational existence for the foreseeable future and as such the financial statements have been prepared on a going concern basis. Further to the above, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and thus the going concern basis continues to be adopted in the preparation of the financial statements.”

Significant events

• “Labour market challenges continued into 2024, with upward pressure on wages that have increased the cost base of the business.”
• “The Company has continued to invest in system and people development, and this has started to deliver improvements in productivity.”
• “The Company has incurred a significant one-off impairment charge in the year following a review of the carrying value of its investment in a new debt management platform.”
• “The Company has continued to invest in IT infrastructure, premises consolidation and people development to ensure that it is able to respond to both client requirements and customer need more effectively and efficiently, including implementation of the new Customer Duty.”

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

  +6.3%

  £37,285,000 → £39,635,000

• Cash

  -34.4%

  £5,699,000 → £3,737,000

• Net assets

  -13.2%

  £93,189,000 → £80,863,000

• Employees

  -16.7%

  1,049 → 874

• Operating profit

  +16%

  -£9,291,000 → -£7,800,000

• Profit before tax

  -456.6%

  -£2,961,000 → -£16,482,000

• Wages

  -4.1%

  £30,159,000 → £28,926,000

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