HOME RETAIL GROUP CARD SERVICES LIMITED

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  Material uncertainty over going concern

  We draw attention to note 2 to the financial statements which explains that the directors of the company intend to cease trading and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements.

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

• Turnover

  -86.7%

  £251,520,000 → £33,422,000

• Cash

  -12.3%

  £5,007,000 → £4,391,000

• Net assets

  -99.7%

  £325,330,000 → £910,000

• Employees

  -17.4%

  282 → 233

• Operating profit

  -110.9%

  £55,104,000 → -£6,029,000

• Profit before tax

  -99.8%

  £14,307,000 → £24,000

• Wages

  -52.4%

  £20,088,000 → £9,553,000

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

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.

1. HOME RETAIL GROUP CARD SERVICES LIMITED 2006-10-24 → present
2. ARG CARD SERVICES LIMITED 2000-07-10 → 2006-10-24
3. INHOCO 2083 LIMITED 2000-06-02 → 2000-07-10

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“We draw attention to note 2 to the financial statements which explains that the directors of the company intend to cease trading and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements.”

Significant events

• “sale of its Argos Card portfolio to NewDay Group Holdings ("NewDay") with beneficial ownership transferring on 28 February 2025”
• “withdrew our MPP product from Argos Financial Services in the year to February 2025, with all remaining balances fully repaid, debt sold or otherwise written down to nil by December 2025.”
• “An application to the regulator to remove all regulatory permissions was submitted in January 2026. Approval of this application is expected in first half of the next financial year, at which point the company will no longer be regulated by the FCA.”
• “the intention is to cease trading within this entity”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

6

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.