SCOTTISH WIDOWS SERVICES LIMITED
A subsidiary of Lloyds Banking Group, the company acts as the employer for the Scottish Widows Retirement Benefits Scheme and recharges associated service costs to other entities within the group's insurance and pensions division.
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Cash
£281m
+25.7% highest in 3 filed years
Net assets
£421m
+6.4% highest in 3 filed years
Employees
635
-2.6% lowest in 3 filed years
Profit before tax
£30m
+97.6% highest in 3 filed years
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 |
|---|---|---|---|---|---|
| Turnover | £982,674,000 | £1,054,205,000 | £1,074,036,000 | +1.9% | |
| Operating profit | £15,921,000 | -£4,592,000 | £1,856,000 | +140.4% | |
| Profit before tax | £21,090,000 | £15,134,000 | £29,899,000 | +97.6% | |
| Net profit | £13,371,000 | £17,535,000 | £22,424,000 | +27.9% | |
| Cash | £201,304,000 | £223,548,000 | £280,987,000 | +25.7% | |
| Total assets less current liabilities | — | — | — | — | |
| Net assets | £407,286,000 | £395,180,000 | £420,623,000 | +6.4% | |
| Equity | £407,286,000 | £395,180,000 | £420,623,000 | +6.4% | |
| Average employees | 1,680 | 652 | 635 | -2.6% | |
| Wages | £91,090,000 | £41,871,000 | £29,663,000 | -29.2% | |
| Directors' remuneration | — | — | — | — |
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 | 1.6% | -0.4% | 0.2% | |
| Net margin | 1.4% | 1.7% | 2.1% | |
| Gearing (liabilities / total assets) | 34.7% | 38.4% | 34.1% | |
| Current ratio | — | 2.21x | 2.57x |
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
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Having consulted on these, the Directors conclude that it is appropriate to continue to adopt the going concern basis in preparing the financial statements.”
Significant events
- “In July 2024, the Court of Appeal handed down a judgment (Virgin Media Limited v NTL Pension Trustees Limited) which potentially has implications for the validity of amendments made by pension schemes that were contracted out on a salary-related basis.”
- “During the year, the Board of Lloyds Banking Group and its Remuneration Committee consulted with colleagues on proposals to move the Group's UK defined contribution pension provision from Your Tomorrow and Your Retirement Plan to the Scottish Widows Master Trust.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
4 active · 41 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MCKAY, Karen Joanne | Secretary | 2018-09-24 | — | — |
| FORDE, Tara | Director | 2025-11-20 | Oct 1986 | British |
| MACKECHNIE, Donald | Director | 2020-10-01 | Jan 1973 | British |
| MESSENGER, Rachel Anne | Director | 2022-12-31 | May 1982 | British |
Show 41 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| CRANE, Louise Carol Mckenzie | Secretary | 2016-11-25 | 2018-09-24 |
| MACLEAN, Jennifer Marion | Secretary | 2010-06-18 | 2013-08-02 |
| MATTHEW, Heather Jane | Secretary | 2015-02-05 | 2016-11-25 |
| MITCHELL, Fiona | Secretary | 2009-07-01 | 2010-06-18 |
| NICHOLLS, Tracey Caroline | Secretary | 2002-07-29 | 2009-07-01 |
| PASSMORE, Nigel Howard | Secretary | 1998-09-29 | 2000-08-07 |
| PATON, Susan Walker | Secretary | 2013-08-02 | 2015-02-05 |
| SHAH, Farhat | Secretary | 2004-10-18 | 2005-06-29 |
| TALBOT, Alison Janet, Ms. | Secretary | 2000-08-07 | 2002-07-29 |
| BEAVEN, Richard Labassee | Director | 2012-11-07 | 2014-09-25 |
| BLACK, James Masson | Director | 2014-01-27 | 2016-06-29 |
| BRIGGS, Andrew David | Director | 2007-01-08 | 2009-06-29 |
| BRYDON, Jane Scott | Director | 2009-06-29 | 2010-05-07 |
| BUCKLEY, Dean Robert | Director | 2008-01-07 | 2009-06-29 |
| DUDLEY JNR, Orie Leslie | Director | 1999-07-01 | 2000-09-30 |
| EASTWOOD, Adrian Mark | Director | 2009-06-29 | 2010-09-30 |
| FLETCHER, Robert William | Director | 2013-08-02 | 2014-01-27 |
| FOLEY, Tara Maria Theresa | Director | 2015-09-25 | 2016-06-28 |
| FOLEY, Tara Maria Theresa | Director | 2014-01-27 | 2014-06-09 |
| GOMEZ-REINO, Juan | Director | 2016-06-28 | 2020-10-01 |
| GUTHRIE, Catherine Anne | Director | 2011-06-23 | 2013-03-05 |
| HUMPHREY, Nicola Audrey | Director | 2013-03-12 | 2015-09-14 |
| LOWTHER, Sean William | Director | 2016-06-28 | 2022-12-31 |
| LUSCOMBE, Kerr | Director | 2010-04-16 | 2010-04-16 |
| LUSCOMBE, Kerr | Director | 2010-04-06 | 2011-05-25 |
| MAIN, William Hill | Director | 1998-09-29 | 2003-11-30 |
| MCCONVILLE, James | Director | 2001-02-07 | 2010-03-31 |
| MOSS, Nathan Victor | Director | 2005-11-21 | 2007-01-08 |
| PARKER, Samantha | Director | 2010-07-01 | 2011-06-15 |
| PARSONS, Andrew Mark | Director | 2012-11-07 | 2017-05-31 |
| PENNEY, Paul Robert | Director | 2009-06-29 | 2012-08-31 |
| PHILLIPS, Christopher Martin | Director | 2003-12-01 | 2007-03-30 |
| ROSS, Michael David | Director | 1999-07-01 | 2002-05-24 |
| SCOTT, Newton | Director | 1999-07-01 | 2002-06-30 |
| STEWART, Gregor Ninian | Director | 2011-06-15 | 2012-10-05 |
| STODDARD, David Antony John | Director | 2010-09-30 | 2012-03-31 |
| STRAUSS, Toby Emil | Director | 2011-11-23 | 2012-10-11 |
| THOMPSON, Ian David | Director | 2001-02-07 | 2003-10-21 |
| THOMSON, Charles Grant | Director | 1998-09-29 | 2000-12-31 |
| TORKINGTON, Christian Roy | Director | 2005-08-01 | 2009-06-26 |
| WHATFORD, Ronald James | Director | 2003-10-21 | 2005-08-01 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Lloyds Bank Plc | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-05-02 | Active |
| Scottish Widows Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2018-05-02 |
Filing timeline
Last 20 of 189 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-12 | AA | accounts | Accounts with accounts type full | |
| 2025-12-10 | CH01 | officers | Change person director company with change date | |
| 2025-12-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-01 | AA | accounts | Accounts with accounts type full | |
| 2025-03-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-12-05 | CH03 | officers | Change person secretary company with change date | |
| 2024-12-02 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-10-01 | AA | accounts | Accounts with accounts type full | |
| 2024-02-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-09-19 | AA | accounts | Accounts with accounts type full | |
| 2023-04-26 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-01-11 | AA | accounts | Accounts with accounts type full | |
| 2023-01-10 | AP01 | officers | Appoint person director company with name date | |
| 2023-01-10 | TM01 | officers | Termination director company with name termination date | |
| 2022-04-25 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2021-08-04 | AA | accounts | Accounts with accounts type full | |
| 2021-05-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2020-10-07 | AA | accounts | Accounts with accounts type full | |
| 2020-10-01 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 0
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.