THIS BANK LIMITED
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Next accounts due
2026-12-31 (in 7mo)
Last filed for 2025-03-31
Confirmation statement due
2026-05-04
Overdue
Watchouts
Cash
£91M
-63.4% vs 2024
Net assets
£26M
+197.2% vs 2024
Employees
62
-8.8% vs 2024
Profit before tax
-£10M
+12.8% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Confirmation statement overdue
Due 2026-05-04.
-
1 PSC ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2025-03-31
| Metric | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Turnover | £5,552,000 | £9,551,000 | |
| Operating profit | -£11,024,000 | -£9,616,000 | |
| Profit before tax | -£11,024,000 | -£9,616,000 | |
| Net profit | -£11,024,000 | -£9,616,000 | |
| Cash | £247,547,000 | £90,674,000 | |
| Total assets less current liabilities | — | — | |
| Net assets | £8,613,000 | £25,597,000 | |
| Equity | £8,613,000 | £25,597,000 | |
| Average employees | 68 | 62 | |
| Wages | £4,929,000 | £5,113,000 | |
| Directors' remuneration | £925,000 | £896,000 |
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
FY2024 → FY2025 · period ending 2025-03-31 vs 2024-03-31
-
Turnover
+72%
£5,552,000 £9,551,000
-
Cash
-63.4%
£247,547,000 £90,674,000
-
Net assets
+197.2%
£8,613,000 £25,597,000
-
Employees
-8.8%
68 62
-
Operating profit
+12.8%
-£11,024,000 -£9,616,000
-
Profit before tax
+12.8%
-£11,024,000 -£9,616,000
-
Wages
+3.7%
£4,929,000 £5,113,000
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-03-31 | 2025-03-31 |
|---|---|---|---|
| Operating margin | -198.6% | -100.7% | |
| Net margin | -198.6% | -100.7% | |
| Gearing (liabilities / total assets) | 97.5% | 93.1% |
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 2 times since incorporation
- THIS BANK LIMITED 2026-01-19 → present
- JN BANK UK LTD 2019-12-19 → 2026-01-19
- JAMAICA NATIONAL UK LTD 2018-12-19 → 2019-12-19
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Forvis Mazars LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on the going concern basis as the directors are satisfied that the Bank will be able to operate with adequate levels of both liquidity and capital for a period of 12 months from the date of approval of these financial statements. The directors have determined that no material uncertainty relating to going concern exists.”
Significant events
- “Change in Majority Ownership: After regulatory change in control permissions, the Bank issued £9.1m of ordinary shares to Step One Money UK Limited (SOMU) along with £15.9m of share premium. SOMU acquired additional shares from JN Financial Group Limited, making it the controlling company on 30 September 2024.”
- “Portfolio Transactions: In June 2024, the Bank purchased a secured loan portfolio of £129.1m and sold a defaulted unsecured portfolio for £3.0m. In December 2024, it purchased another portfolio for £20.7m.”
- “New Leadership: Christopher Waring was appointed Chief Executive Officer during the year.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
9 active · 16 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MFG SERVICES LTD | Corporate Secretary | 2018-12-19 | — | — |
| ALLEYNE, Hugo Sean | Director | 2024-05-01 | Apr 1971 | British,Jamaican |
| BURKE, Ken | Director | 2024-10-16 | Mar 1963 | Irish |
| CHILDRESS, Michael | Director | 2024-10-17 | Oct 1972 | American |
| DENHOLM, Ronald | Director | 2025-02-27 | Jan 1965 | British |
| JUSTICE, Warren Henry | Director | 2022-01-28 | Jul 1966 | British |
| LEVY, Keith Ainsley Antonio | Director | 2025-09-25 | Mar 1973 | British |
| SMITH-GORDON, Lionel George | Director | 2025-01-20 | Jul 1964 | British |
| WARING, Christopher | Director | 2025-01-06 | Mar 1970 | British |
Show 16 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| AHMAD, Asif | Director | 2023-05-30 | 2024-12-31 |
| BAWA, James Jaiparkash | Director | 2019-01-23 | 2020-02-26 |
| CLARKE, Oliver Frederick | Director | 2018-12-19 | 2019-12-09 |
| COLL, Nicole | Director | 2023-12-05 | 2024-03-01 |
| FENSOME, Dean | Director | 2019-01-23 | 2023-01-13 |
| JARRETT, Earl Wesley | Director | 2018-12-19 | 2025-09-25 |
| JONES, Elizabeth Ann | Director | 2019-07-10 | 2024-10-30 |
| JORDAN, Karen Angela | Director | 2019-01-23 | 2023-09-01 |
| MANDER, Colin John | Director | 2023-06-28 | 2026-01-29 |
| MANDER, Colin John | Director | 2019-01-23 | 2022-06-30 |
| MARSHALL, Ian | Director | 2019-01-23 | 2023-02-24 |
| NOBLE, Paul | Director | 2023-04-21 | 2024-10-10 |
| PARR, Andrew | Director | 2023-01-13 | 2024-06-17 |
| SEMPLE, Margaret Olivia | Director | 2019-09-05 | 2025-03-31 |
| SIMPSON, Paulette Dawn | Director | 2020-09-11 | 2024-10-30 |
| TOOHIG, Michael Anthony Paul | Director | 2018-12-19 | 2019-07-10 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Step One Money Uk Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2024-09-30 | Active |
| Jn Financial Group Limited | Corporate entity | Shares 75–100% | 2019-01-23 | Ceased 2024-09-30 |
| Earl Earl Jarrett | Individual | Shares 50–75% | 2018-12-19 | Ceased 2019-01-23 |
Filing timeline
Last 20 of 97 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-01-19 CERTNM Certificate change of name company
- 2026-01-19 NM06 Change of name request comments
- 2026-01-19 CONNOT Change of name notice
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-14 | SH01 | capital | Capital allotment shares | |
| 2026-02-05 | SH01 | capital | Capital allotment shares | |
| 2026-02-05 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-20 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-19 | CERTNM | change-of-name | Certificate change of name company | |
| 2026-01-19 | NM06 | change-of-name | Change of name request comments | |
| 2026-01-19 | CONNOT | change-of-name | Change of name notice | |
| 2025-12-01 | AA | accounts | Accounts with accounts type full | |
| 2025-10-22 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-03 | SH01 | capital | Capital allotment shares | |
| 2025-08-18 | SH01 | capital | Capital allotment shares | |
| 2025-05-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-04-30 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-04-01 | SH01 | capital | Capital allotment shares | |
| 2025-03-31 | TM01 | officers | Termination director company with name termination date | |
| 2025-03-17 | AP01 | officers | Appoint person director company with name date | |
| 2025-02-17 | SH01 | capital | Capital allotment shares | |
| 2025-01-28 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-20 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2025-01-20 | SH20 | capital | Legacy |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 12
- Capital events
- 8
- Officers appointed
- 1
- 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.