TANDEM BANK LIMITED
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Cash
—
Latest balance sheet
Net assets
—
Equity attributable
Employees
—
Average over period
Profit before tax
£5.5m
-52.9% first positive since 2023
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 | — | — | — | — | |
| Fee & commission income | — | — | — | — | |
| Operating income | — | — | — | — | |
| Impairment losses | — | — | — | — | |
| Profit before tax | -£2,796,000 | £11,620,000 | £5,475,000 | -52.9% | |
| Net profit | £3,600,000 | £11,512,000 | £3,458,000 | -70% | |
| Loans & advances to customers | — | £1,219,256,000 | £1,284,901,000 | +5.4% | |
| Customer deposits | — | — | — | — | |
| Total assets | £3,859,400,000 | £3,155,197,000 | — | — | |
| Total liabilities | — | £2,977,518,000 | £2,301,898,000 | -22.7% | |
| Equity | £156,571,000 | £177,679,000 | — | — | |
| Average employees | 507 | 500 | — | — |
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 | -3.6% | 14.5% | — | |
| Net margin | 4.6% | 14.3% | — | |
| Return on capital employed | -1.5% | 5.8% | — | |
| Gearing (liabilities / total assets) | 95.9% | 94.4% | — | |
| Current ratio | 1.03x | 0.94x | — | |
| Interest cover | -0.02x | 0.07x | — |
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 3 times since incorporation
- TANDEM BANK LIMITED 2018-01-12 → present
- HARRODS BANK LIMITED 1988-07-01 → 2018-01-12
- HARRODS TRUST LIMITED 1980-12-31 → 1988-07-01
- HARRODS (KNIGHTSBRIDGE) LIMITED 1969-06-04 → 1980-12-31
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Financial Statements continue to be prepared on a going concern basis as the Directors are satisfied that the Bank has the resources to continue in business for the foreseeable future (which has been taken up to December 2027 from the date of approval of the financial statements).”
Significant events
- “During 2025, the Board oversaw several activities that impacted Tandem's customer base and as such Directors ensured customer interests remained at the forefront of minds during these processes. Foremost amongst these activities was the Board's response to the Supreme Court ruling on motor finance commissions. The Board has overseen Tandem's comprehensive plan to implement the FCA's motor finance redress scheme in 2026, which is expected to be delivered successfully to the benefit of customers.”
- “During the year, the Bank securitised a portfolio of second charge mortgage loans of £203m (2024: £268m), resulting in a gain on sale of £9.4m (2024: £11.3m).”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
10 active · 58 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MALIK, Marriam | Secretary | 2024-07-31 | — | — |
| CAREY, Patrick Hatfield | Director | 2024-03-28 | May 1983 | Irish |
| CHANDLER, Neil | Director | 2025-06-30 | Sep 1971 | British |
| GULAMHUSEINWALA, Imran | Director | 2024-05-30 | Aug 1974 | British |
| HEAPS, Ryan | Director | 2025-06-26 | Dec 1985 | British |
| JONES, Stephen | Director | 2026-01-06 | Jul 1964 | British |
| KORNITZER, Clive | Director | 2026-02-16 | Nov 1964 | British |
| MCCAIG, Malcolm Graham | Director | 2023-06-29 | May 1955 | British |
| POTTER, Matthew James Gary | Director | 2022-03-31 | Sep 1983 | British |
| WALLACE, Aileen | Director | 2023-11-01 | Dec 1970 | British |
Show 58 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DEAN, Simon David Hatherly | Secretary | 2004-06-01 | 2010-09-10 |
| FIRTH, Kathryn Jane | Secretary | 2022-05-01 | 2022-09-16 |
| FORSHAW, Edward | Secretary | 2024-04-01 | 2024-05-30 |
| FREEMAN, Edward Charles | Secretary | 2018-10-22 | 2022-04-29 |
| GOLDBERG, Justine Magdalen | Secretary | 2011-02-22 | 2014-05-02 |
| GREEN, David | Secretary | 2018-09-06 | 2018-10-22 |
| HASTINGS-JONES, Ellen | Secretary | 2022-09-21 | 2024-03-31 |
| JERMAN, Susan | Secretary | — | 2004-05-31 |
| LOVESY, Ralph | Secretary | 2015-01-27 | 2016-09-07 |
| VALDAR, Catharine Nicola | Secretary | 2016-09-08 | 2018-09-06 |
| WEBSTER, Daniel Jonathan | Secretary | 2014-05-23 | 2015-01-26 |
| AL-MANNAI, Ebtesam Saleh | Director | 2015-02-01 | 2015-12-01 |
| ALIKER, Susannah Louise | Director | 2021-06-04 | 2022-12-08 |
| AMATO, Michael Lester | Director | 2018-01-10 | 2020-12-31 |
| BALL, Peter Simon | Director | 2014-05-23 | 2016-06-30 |
| BAYOUMI, Omar Hugh, Dr | Director | 1995-03-07 | 1995-06-30 |
| CAMPBELL, Christopher James | Director | — | 2000-01-29 |
| CARPENTER, Peter | Director | — | 2005-04-30 |
| CATHIE, David James | Director | 2012-09-10 | 2014-05-20 |
| COOPER, Matthew Jonathan | Director | 2018-01-10 | 2020-12-31 |
| DIXON, Dudley John Stuart | Director | 2000-02-01 | 2015-01-31 |
| DOBSON, Matthew | Director | 2025-02-07 | 2025-06-30 |
| DONALDSON, Matthew Oliver | Director | 2022-03-31 | 2026-02-28 |
| EDGAR, John Peter | Director | 2014-10-01 | 2017-11-15 |
| FERREIRA, Talita | Director | 2021-04-26 | 2023-12-31 |
| FISHER, David | Director | 2020-12-17 | 2024-12-29 |
| GREEN, David | Director | 2016-11-01 | 2018-01-10 |
| HASSALL, Margaret Grace | Director | 2020-12-17 | 2023-02-01 |
| HAWKINS, John Graham | Director | 1999-06-15 | 2012-08-31 |
| HOARE, Caroline Jane | Director | 2014-10-01 | 2018-01-10 |
| JACKSON, Heather Louise | Director | 2018-01-10 | 2018-10-28 |
| KLIMBACHER, Michael | Director | 2018-01-10 | 2020-08-21 |
| KNOX, Frederick Samuel, Mr. | Director | 2018-01-10 | 2021-05-25 |
| LEARMONTH, Ronald Samuel | Director | 1995-08-15 | 1999-05-31 |
| LOVERING, Roger Vincent | Director | 2016-11-01 | 2018-01-10 |
| LYDON, Michael Anthony | Director | — | 2012-09-11 |
| MAXWELL, David Gordon Alexander | Director | 2005-03-01 | 2012-03-31 |
| MAXWELL, David Gordon Alexander | Director | 1998-12-15 | 2003-08-31 |
| MAZZUCCHELLI, Marco Giovanni | Director | 2012-09-10 | 2015-03-31 |
| MCCARTHY, David James | Director | 2023-02-23 | 2024-12-31 |
| MCLEAN, Malcolm | Director | 2008-09-01 | 2013-07-03 |
| MOLLART, Alexander John | Director | 2022-01-24 | 2025-06-30 |
| MURPHY, Anthony | Director | 2020-11-17 | 2023-02-13 |
| NIEUWKOOP, Jeroen | Director | 2021-05-26 | 2022-01-24 |
| PESTER, Paul David, Dr | Director | 2022-06-15 | 2026-03-01 |
| PRITCHARD, Jeffrey John | Director | 2016-11-01 | 2022-06-30 |
| SCOTT, James William | Director | 2020-08-21 | 2024-03-28 |
| SIMMONDS, John David, Councillor | Director | 1994-10-11 | 1998-09-18 |
| SOAMES, Jeremy Bernard | Director | 2012-09-10 | 2016-04-15 |
| STEPHENS, Mark St John | Director | 2016-10-03 | 2017-10-31 |
| STEWART, David Ian | Director | 2012-07-01 | 2012-09-30 |
| STRUTT, Henry Clavering Tollemache | Director | 2016-02-03 | 2018-01-10 |
| TORPEY, David Gerard | Director | 2020-10-02 | 2023-12-31 |
| WESTBY, Peter John | Director | 2003-08-19 | 2008-07-31 |
| WILLOUGHBY, George | Director | — | 1995-01-28 |
| WISHART, Alexander William | Director | — | 1994-07-08 |
| YOUNG, Robin Mark | Director | 2014-10-01 | 2016-09-14 |
| ZAGOROVSKIS, Jevgenijs | Director | 2016-11-04 | 2020-08-21 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Tandem Money Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2018-01-10 | Active |
| Harrods Group (Holding) Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-16 | Ceased 2018-01-03 |
Filing timeline
Last 20 of 331 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-10-20 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-12 | AA | accounts | Accounts with accounts type full | |
| 2026-03-10 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-28 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-25 | AP01 | officers | Appoint person director company with name date | |
| 2026-02-19 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-05 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-10-20 | RESOLUTIONS | resolution | Resolution | |
| 2025-07-09 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-02 | AP01 | officers | Appoint person director company with name date | |
| 2025-07-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-07-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-10 | AA | accounts | Accounts with accounts type full | |
| 2025-05-30 | SH01 | capital | Capital allotment shares | |
| 2025-03-06 | RP04AP01 | officers | Second filing of director appointment with name | |
| 2025-03-03 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-06 | TM01 | officers | Termination director company with name termination date | |
| 2025-01-09 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-19 | AD02 | address | Change sail address company with old address new address | |
| 2024-12-19 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-11-15 | SH01 | capital | Capital allotment shares |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 2
- Officers appointed
- 2
- Officers resigned
- 2
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.