HOLMES FUNDING LIMITED
Holmes Funding Limited operates as a funding vehicle within the Holmes Master Trust, a residential mortgage-backed securitisation programme utilised by Santander UK.
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Cash
£181M
+43.9% highest in 3 filed years
Net assets
£119M
-36.7% vs 2024
Employees
0
Average over period
Profit before tax
-£69M
-140.5% lowest in 3 filed years
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 |
|---|---|---|---|---|---|
| Turnover | £107,684,000 | £198,654,000 | £242,304,000 | +22% | |
| Operating profit | — | — | — | — | |
| Profit before tax | -£40,640,000 | £170,316,000 | -£68,933,000 | -140.5% | |
| Net profit | -£40,640,000 | £170,316,000 | -£68,933,000 | -140.5% | |
| Cash | £79,291,000 | £125,483,000 | £180,538,000 | +43.9% | |
| Total assets less current liabilities | £2,510,390,000 | £3,990,574,000 | — | — | |
| Net assets | £17,549,000 | £187,865,000 | £118,932,000 | -36.7% | |
| Equity | £17,549,000 | £187,865,000 | £118,932,000 | -36.7% | |
| Average employees | 0 | 0 | 0 | — | |
| Wages | — | £0 | £0 | — | |
| Directors' remuneration | £0 | £0 | £0 | — |
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 |
|---|---|---|---|---|
| Net margin | -37.7% | 85.7% | -28.4% | |
| Gearing (liabilities / total assets) | 99.3% | 95.3% | 97.9% | |
| Current ratio | 2.79x | 3.01x | 1.51x |
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 1 time since incorporation
- HOLMES FUNDING LIMITED 2000-06-13 → present
- TRUSHELFCO (NO.2656) LIMITED 2000-04-28 → 2000-06-13
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Having assessed the principal risks and the matters above and that of the overall Holmes Securitisation Structure, the Directors consider it appropriate to adopt the going concern basis of accounting in preparing the annual report and financial statements.”
Significant events
- “On 21 January 2026, Holmes Master Issuer plc issued Series 2026-1 Notes, comprising £500,000,000 of Class A1 and £750,000,000 of Class A2 Notes. Interest on these Notes is compounded at SONIA plus 0.53% and SONIA plus 0.60% respectively.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 19 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| SANTANDER SECRETARIAT SERVICES LIMITED | Corporate Secretary | 2012-08-28 | — | — |
| GRANT, Lee Thomas | Director | 2023-08-09 | May 1985 | British |
| WYNNE, Daniel Jonathan | Director | 2017-11-01 | Sep 1970 | British |
| WILMINGTON TRUST SP SERVICES (LONDON) LIMITED | Corporate Director | 2000-06-16 | — | — |
Show 19 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| ABBEY NATIONAL NOMINEES LIMITED | Corporate Secretary | 2008-09-30 | 2012-08-28 |
| ABBEY NATIONAL SECRETARIAT SERVICES LIMITED | Corporate Secretary | 2000-06-16 | 2008-09-30 |
| TRUSEC LIMITED | Corporate Nominee Secretary | 2000-04-28 | 2000-06-16 |
| AFFLECK, Stephen David | Director | 2021-12-31 | 2023-08-09 |
| BAKER, Robin Gregory | Director | 2006-07-28 | 2006-11-10 |
| BARTON, Andrew | Director | 2000-06-16 | 2000-10-20 |
| FILER, Mark Howard | Director | 2007-12-14 | 2017-04-26 |
| GREEN, David Martin | Director | 2003-05-23 | 2015-12-31 |
| HUTCHINSON, Marc Sandford | Director | 2000-05-22 | 2000-06-16 |
| LAKE, Peter Machin | Director | 2000-05-22 | 2000-06-16 |
| MASSON, Sunil | Director | 2007-11-05 | 2011-05-04 |
| MCDERMOTT, Martin | Director | 2000-06-16 | 2014-12-05 |
| MORRISON, Rachel Jane | Director | 2016-04-07 | 2021-12-31 |
| PARSONS, Mark Alistair | Director | 2001-08-20 | 2002-08-06 |
| ROBINSON, Mark Tyson | Director | 2000-10-20 | 2001-08-20 |
| ROWE, Drusilla Charlotte Jane | Nominee Director | 2000-04-28 | 2000-05-22 |
| SAMSON, Ruth Louise | Director | 2006-11-10 | 2011-05-04 |
| WISE, Richard James | Director | 2002-08-06 | 2003-05-23 |
| ZUERCHER, Eleanor Jane | Nominee Director | 2000-04-28 | 2000-05-22 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Holmes Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Active |
Filing timeline
Last 20 of 150 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-01-14 MA Memorandum articles
- 2024-01-14 RESOLUTIONS Resolution
- 2024-01-04 CC04 Statement of companys objects
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-05-31 | AA | accounts | Accounts with accounts type full | |
| 2026-04-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-30 | AA | accounts | Accounts with accounts type full | |
| 2025-04-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-24 | AA | accounts | Accounts with accounts type full | |
| 2024-04-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-01-14 | MA | incorporation | Memorandum articles | |
| 2024-01-14 | RESOLUTIONS | resolution | Resolution | |
| 2024-01-04 | CC04 | change-of-constitution | Statement of companys objects | |
| 2023-08-11 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-11 | AP01 | officers | Appoint person director company with name date | |
| 2023-06-30 | AA | accounts | Accounts with accounts type full | |
| 2023-04-12 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-06-27 | AA | accounts | Accounts with accounts type full | |
| 2022-04-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-12-31 | AP01 | officers | Appoint person director company with name date | |
| 2021-12-31 | TM01 | officers | Termination director company with name termination date | |
| 2021-07-02 | AA | accounts | Accounts with accounts type full | |
| 2021-04-06 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-06-26 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 2
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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.