LANDMARK MORTGAGE SECURITIES NO.1 PLC

• ⚠

  Annual accounts overdue

  Due 2026-03-31.

• ⚠

  Material uncertainty over going concern

  At the date of signing these financial statements it is not known whether and, if so, when the call option will be exercised. The directors believe it to be possible, but not certain, that the call option will be exercised within 12 months from the date of approval of the financial statements. The existence of this option combined with the uncertainties around its exercise means that there is a material uncertainty as to whether the entity will continue as a going concern.

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

  +93.5%

  £934,000 → £1,807,000

• Cash

  +0.2%

  £3,197,000 → £3,203,000

• Net assets

  -21%

  -£4,610,000 → -£5,580,000

• Employees

  —

  Not reported

• Profit before tax

  +32.4%

  -£1,435,000 → -£970,000

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. LANDMARK MORTGAGE SECURITIES NO.1 PLC 2006-05-05 → present
2. ZEBRA UK MORTGAGE FUNDING NO. 1 PLC 2006-04-27 → 2006-05-05

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“At the date of signing these financial statements it is not known whether and, if so, when the call option will be exercised. The directors believe it to be possible, but not certain, that the call option will be exercised within 12 months from the date of approval of the financial statements. The existence of this option combined with the uncertainties around its exercise means that there is a material uncertainty as to whether the entity will continue as a going concern.”

Significant events

• “A call option exists over the loan notes issued by the Company which may be exercised at the sole discretion of the certificate holder (Kayl Holdco) on any Interest Payment Date once the outstanding mortgage-backed loan notes reach 10% of the original amount. This threshold is not satisfied during the year ended 31 March 2024 but reached below 10% in June 2024.”

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

Filings

2

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.