GCP PROGRAMME FUNDING 1 LIMITED
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Next accounts due
2026-03-31
Overdue
Confirmation statement due
2026-08-01 (in 3mo)
Last made up 2025-07-18
Watchouts
Cash
£540K
-50.4% vs 2023
Net assets
-£29M
-1,186.3% lowest in 6 filed years
Employees
0
Average over period
Profit before tax
-£27M
-4,106.1% lowest in 3 filed years
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Annual accounts overdue
Due 2026-03-31.
-
Material uncertainty over going concern
As a result of the above matters, a material uncertainty related to going concern exists. The Company has involved its lender, GCP Infrastructure Investments Limited ("the Fund"), in all discussions with borrowers where loans have not been serviced in line with the agreements in place. The Fund has been supportive and has provided a letter of support confirming its commitment to support the Company for a period of at least 12 months from the date of signing these financial statements.
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Audit opinion: Qualified
Latest auditor's report carried a non-clean opinion.
Net assets
6-year trend · vs Industrials median
Accounts
6-year trend · latest reflected 2024-03-31
| Metric | Trend | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 |
|---|---|---|---|---|---|---|---|
| Turnover | — | — | — | £10,990,000 | £14,447,000 | £18,253,000 | |
| Operating profit | — | — | — | £6,145,000 | -£638,000 | -£26,835,000 | |
| Profit before tax | — | — | — | £6,145,000 | -£638,000 | -£26,835,000 | |
| Net profit | — | — | — | — | -£638,000 | -£26,835,000 | |
| Cash | £1,227,334 | £726,349 | £526,390 | £731,000 | £1,088,000 | £540,000 | |
| Total assets less current liabilities | £97,305,685 | £102,269,601 | £112,290,688 | £133,677,000 | £151,779,000 | £180,079,000 | |
| Net assets | £23,693 | -£7,770,394 | -£7,767,974 | -£1,623,000 | -£2,262,000 | -£29,097,000 | |
| Equity | £23,693 | -£7,770,394 | -£7,767,974 | -£1,623,000 | -£2,262,000 | -£29,097,000 | |
| Average employees | 4 | 5 | 0 | 0 | 0 | 0 | |
| Wages | — | — | — | — | — | — | |
| Directors' remuneration | — | — | — | — | — | £0 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-03-31 vs 2023-03-31
-
Turnover
+26.3%
£14,447,000 £18,253,000
highest in 3 filed years
-
Cash
-50.4%
£1,088,000 £540,000
-
Net assets
-1,186.3%
-£2,262,000 -£29,097,000
lowest in 6 filed years
-
Employees
—
Not reported
-
Operating profit
-4,106.1%
-£638,000 -£26,835,000
lowest in 3 filed years
-
Profit before tax
-4,106.1%
-£638,000 -£26,835,000
lowest in 3 filed years
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 |
|---|---|---|---|---|---|---|---|
| Operating margin | — | — | — | 55.9% | -4.4% | -147.0% | |
| Net margin | — | — | — | — | -4.4% | -147.0% | |
| Return on capital employed | — | — | — | 4.6% | -0.4% | -14.9% | |
| Current ratio | — | — | — | — | 3.80x | 18.24x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Wellden Turnbull Limited
- Audit opinion
- Qualified
- Going concern
- Material uncertainty disclosed
“As a result of the above matters, a material uncertainty related to going concern exists. The Company has involved its lender, GCP Infrastructure Investments Limited ("the Fund"), in all discussions with borrowers where loans have not been serviced in line with the agreements in place. The Fund has been supportive and has provided a letter of support confirming its commitment to support the Company for a period of at least 12 months from the date of signing these financial statements.”
Significant events
- “On 1 October 2025 the Company acquired the issued share capital of IBNE Finco Limited, one of the Company's loan debtors with a receivable balance at the year end of £10,657,000, for consideration of £1.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 5 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| KENT, Philip William | Director | 2020-02-04 | Dec 1984 | British |
| MARLOW, Chloe | Director | 2023-12-08 | Apr 1981 | British |
| PARKER, Nicholas Simon | Director | 2016-07-19 | Dec 1969 | British |
| WOODHEAD, Louise Christine | Director | 2025-12-31 | Apr 1981 | British |
Show 5 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BATH, Anna Louise | Director | 2023-12-08 | 2025-12-31 |
| ELLIS, Stephen Campbell Joseph | Director | 2016-07-19 | 2021-06-28 |
| JOHNSTON, Saira Jane | Director | 2020-02-04 | 2023-12-08 |
| KIERANS, Ronan Niall | Director | 2016-07-19 | 2020-02-04 |
| WRIGHT, Rollo Andrew Johnstone | Director | 2016-07-19 | 2023-12-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Gcp Intermediary Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-07-19 | Active |
Filing timeline
Last 20 of 42 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-14 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-14 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-23 | DISS40 | gazette | Gazette filings brought up to date | |
| 2025-12-22 | AA | accounts | Accounts with accounts type full | |
| 2025-12-09 | GAZ1 | gazette | Gazette notice compulsory | |
| 2025-07-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-07-28 | CH01 | officers | Change person director company with change date | |
| 2025-07-28 | CH01 | officers | Change person director company with change date | |
| 2025-06-07 | DISS40 | gazette | Gazette filings brought up to date | |
| 2025-06-03 | GAZ1 | gazette | Gazette notice compulsory | |
| 2025-04-22 | CH01 | officers | Change person director company with change date | |
| 2024-07-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-07-23 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-03-28 | AA | accounts | Accounts with accounts type full | |
| 2023-12-18 | AP01 | officers | Appoint person director company with name date | |
| 2023-12-18 | TM01 | officers | Termination director company with name termination date | |
| 2023-12-15 | AP01 | officers | Appoint person director company with name date | |
| 2023-12-15 | TM01 | officers | Termination director company with name termination date | |
| 2023-07-19 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-02-17 | AA | accounts | Accounts with accounts type small |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 0
- Officers appointed
- 1
- 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.