MARKS AND SPENCER FINANCIAL SERVICES LIMITED
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Cash
—
Latest balance sheet
Net assets
£523M
+1.6% vs 2024
Employees
690
-6.5% lowest in 3 filed years
Profit before tax
£9.6M
-81.5% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Accounts not prepared on a going-concern basis
Accordingly, these financial statements have been prepared on a non-going concern basis. Assets and liabilities will be transferred to HSBC UK at their carrying values, which management believes approximate their realisable / settlement amounts.
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Going-concern uncertainty disclosed
Net assets
3-year trend · vs Financials median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Net interest income | — | £119,860,000 | £142,385,000 | +18.8% | |
| Fee & commission income | — | £57,118,000 | £38,024,000 | -33.4% | |
| Operating income | — | — | — | — | |
| Impairment losses | — | £22,933,000 | £62,260,000 | +171.5% | |
| Profit before tax | £55,021,000 | £51,896,000 | £9,608,000 | -81.5% | |
| Net profit | £43,454,000 | £38,866,000 | £8,260,000 | -78.7% | |
| Loans & advances to customers | — | £3,743,791,000 | £4,276,982,000 | +14.2% | |
| Customer deposits | — | £792,671,000 | £745,234,000 | -6% | |
| Total assets | — | £4,710,127,000 | £5,232,821,000 | +11.1% | |
| Total liabilities | — | £4,195,461,000 | £4,709,890,000 | +12.3% | |
| Equity | — | £514,666,000 | £522,931,000 | +1.6% | |
| Average employees | 833 | 738 | 690 | -6.5% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 16.8% | 13.7% | — | |
| Net margin | 13.3% | 10.3% | — | |
| Gearing (liabilities / total assets) | — | 89.1% | 90.0% |
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.
Name history
Renamed 5 times since incorporation — the current trading name was adopted 2026-06-19
- MARKS AND SPENCER FINANCIAL SERVICES LIMITED 2026-06-19 → present
- MARKS AND SPENCER FINANCIAL SERVICES PLC 2017-12-13 → 2026-06-19
- MARKS & SPENCER FINANCIAL SERVICES PLC 2002-08-01 → 2017-12-13
- MARKS AND SPENCER FINANCIAL SERVICES LIMITED 1988-02-01 → 2002-08-01
- ST. MICHAEL FINANCIAL SERVICES LIMITED 1984-04-27 → 1988-02-01
- BRICKFLAG LIMITED 1983-11-24 → 1984-04-27
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Not a going concern (break-up basis)
“Accordingly, these financial statements have been prepared on a non-going concern basis. Assets and liabilities will be transferred to HSBC UK at their carrying values, which management believes approximate their realisable / settlement amounts.”
Significant events
- “On 27th January 2026, the Entity disposed of its Pet Insurance business for £4.8m, as part of the simplification of its product range.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 68 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ALDERSON, Alex | Secretary | 2020-02-11 | — | — |
| CALVER, Simon John | Director | 2023-04-01 | Jul 1964 | British |
| O'FLAHERTY, Colin | Director | 2024-12-03 | Sep 1978 | British |
| SCOTT, Phillip William | Director | 2009-11-09 | Oct 1976 | British |
Show 68 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GREEN, Peter Harvey | Secretary | 1999-08-24 | 2005-06-16 |
| HARVEY, Peter James | Secretary | 2005-06-16 | 2008-07-23 |
| HUDSON, Kate Elizabeth | Secretary | 2010-09-22 | 2013-09-26 |
| IVENS, Robert John | Secretary | 1991-10-18 | 1999-08-24 |
| LEWIS, Katie, Ms. | Secretary | 2019-03-22 | 2020-02-11 |
| MCNALTY, Mary Josephine Margaret | Secretary | 2013-09-26 | 2014-12-11 |
| MCQUILLAN, Pauline Louise | Secretary | 2008-07-23 | 2009-09-24 |
| MEEHAN, Christopher | Secretary | 2018-07-03 | 2019-03-22 |
| MUSGROVE, Robert Hugh | Secretary | 2009-09-24 | 2010-09-22 |
| OAKLEY, Graham John | Secretary | — | 1991-10-18 |
| OLLITE, Syeeda | Secretary | 2014-12-11 | 2018-07-03 |
| BENFIELD, James Richard | Director | 1999-03-26 | 1999-12-31 |
| BRADSHAW, Paul Richard | Director | 2003-05-28 | 2005-05-31 |
| BUDD, David Charles | Director | 2005-09-22 | 2007-10-01 |
| COHEN, Sally Anne | Director | 2012-02-09 | 2013-02-28 |
| COLVILL, Robert William Chaigneau | Director | — | 2002-08-31 |
| COOK, Brendan Alistair | Director | 2004-12-09 | 2009-01-01 |
| CORDWELL, Ian Derek | Director | 1999-02-22 | 1999-04-30 |
| COYLE, James | Director | 2016-01-11 | 2024-04-24 |
| CULLEY, Kenneth | Director | 2000-09-22 | 2013-12-12 |
| DUNBAR, Margaret | Director | 1999-02-22 | 2002-01-04 |
| FENNELL, Peter Simon | Director | 1999-02-22 | 2002-04-30 |
| FOX, Suzanne | Director | 2014-05-22 | 2019-01-31 |
| GARNER, Johnson Daniel | Director | 2006-02-09 | 2011-02-02 |
| GOLBY, Marcus John Joseph Reynolds | Director | 2008-07-28 | 2011-03-25 |
| GOLDIE-SCOT, Jenny Fiona | Director | 2024-04-25 | 2026-05-31 |
| HAIRE, Stuart Arthur | Director | 2017-12-01 | 2020-06-18 |
| HANDLEY, Matthew Alexander Granger | Director | 2015-11-01 | 2020-05-25 |
| HASLAM, Christine Dora | Director | 2009-11-09 | 2011-02-28 |
| HINSHELWOOD, Nigel Grant | Director | 2011-09-28 | 2018-05-30 |
| HOLMES, Roger Anthony | Director | 2003-10-03 | 2004-05-31 |
| HOLT, Denise Mary, Dame | Director | 2013-08-01 | 2019-09-19 |
| JOHN, Dyfrig Dafydd Joseff | Director | 2005-04-25 | 2006-02-09 |
| JOHNSON, Michael Adrian | Director | — | 1993-03-31 |
| KERSLEY, Colin Martin | Director | 2009-02-11 | 2014-05-22 |
| KNUTSON, Kelley Craig | Director | 2002-03-21 | 2009-12-31 |
| LISTER, David William | Director | 2019-09-20 | 2024-04-24 |
| LYNOTT, Gev | Director | 2000-11-24 | 2002-07-19 |
| MACKAY, David Johnstone | Director | 2005-07-28 | 2006-08-21 |
| MCCRACKEN, Philip Guy | Director | — | 1999-02-22 |
| MCWALTER, Alan James | Director | 2000-01-28 | 2002-07-10 |
| MIELCZAREK, Andrew Ray | Director | 2005-04-21 | 2007-02-20 |
| MILNE, Alistair Graham | Director | 2002-04-25 | 2005-02-04 |
| NOTT, Edward Brian | Director | 2002-08-01 | 2007-12-10 |
| O'SULLIVAN, Sean Patrick | Director | 2007-11-15 | 2011-01-31 |
| OATES, John Keith | Director | — | 1999-01-31 |
| POWERS-FREELING, Laurel Claire | Director | 2001-11-06 | 2004-11-07 |
| PRENTICE, Crawford Peter | Director | 2010-03-04 | 2014-12-11 |
| RANSON, Roy Henry | Director | 1999-02-22 | 2003-05-28 |
| RICHARDSON, Neville Brian | Director | 2012-02-09 | 2013-06-18 |
| RIPLEY, Andrew John | Director | 2008-02-20 | 2009-09-24 |
| RUSHTON, Simon Leslie | Director | 1999-09-23 | 2000-11-24 |
| SALSBURY, Peter Leslie | Director | 1993-03-31 | 1999-02-22 |
| SELLWOOD, Philip Henry George | Director | 1999-02-22 | 2000-10-31 |
| SEWARD, Paul Kenneth | Director | 2016-11-11 | 2017-11-30 |
| SHAWYER, Peter Michael | Director | 2013-08-01 | 2015-03-04 |
| SPENCER, Paul Michael | Director | 2019-02-01 | 2024-12-05 |
| SPENCER, Paul Michael | Director | 2008-02-20 | 2009-09-07 |
| STEWART, David | Director | 2014-07-01 | 2020-05-13 |
| THUNDERCLIFFE, Mark John | Director | 2012-05-17 | 2016-06-22 |
| TOWELL, David Malcolm | Director | — | 2001-12-31 |
| VAN DEN AARDWEG, Andrew Douglas | Director | 2015-07-17 | 2020-06-18 |
| VANDEVELDE, Luc Emile | Director | 2002-09-01 | 2003-10-03 |
| WALTON, John Allan | Director | 1999-09-14 | 2004-11-07 |
| WAUGH, Richard Ian | Director | 2005-07-28 | 2007-12-10 |
| WAUGH, Richard Ian | Director | 1999-02-22 | 1999-08-20 |
| WELLS, Barrie John | Director | 2000-01-04 | 2009-12-31 |
| WOOLLARD, Keith | Director | 2011-12-01 | 2015-12-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Hsbc Uk Bank Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-07-01 | Active |
| Hsbc Bank Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-03-21 | Ceased 2018-07-01 |
| Marks And Spencer Retail Financial Services Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-10-26 | Ceased 2018-03-21 |
Filing timeline
Last 20 of 310 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-06-25 RESOLUTIONS Resolution
- 2026-06-19 RESOLUTIONS Resolution
- 2026-06-19 CERT10 Certificate re registration public limited company to private
- 2026-06-19 RR02 Reregistration public to private company
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-06-27 | AA | accounts | Accounts with accounts type full | |
| 2026-06-25 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2026-06-25 | CAP-SS | insolvency | Legacy | |
| 2026-06-25 | SH20 | capital | Legacy | |
| 2026-06-25 | RESOLUTIONS | resolution | Resolution | |
| 2026-06-19 | RESOLUTIONS | resolution | Resolution | |
| 2026-06-19 | CERT10 | change-of-name | Certificate re registration public limited company to private | |
| 2026-06-19 | MAR | incorporation | Re registration memorandum articles | |
| 2026-06-19 | RR02 | change-of-name | Reregistration public to private company | |
| 2026-06-18 | TM01 | officers | Termination director company with name termination date | |
| 2025-12-08 | SH01 | capital | Capital allotment shares | |
| 2025-07-25 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-06-27 | AA | accounts | Accounts with accounts type full | |
| 2024-12-10 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-10 | AP01 | officers | Appoint person director company with name date | |
| 2024-07-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-30 | AA | accounts | Accounts with accounts type full | |
| 2024-05-07 | AP01 | officers | Appoint person director company with name date | |
| 2024-05-07 | TM01 | officers | Termination director company with name termination date | |
| 2024-05-07 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 3
- Officers appointed
- 0
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.