WESLEYAN FINANCIAL SERVICES LIMITED

COLMORE CIRCUS, BIRMINGHAM, B4 6AR

Previous name: PROFESSIONAL AFFINITY GROUP SERVICES LIMITED (changed on 19-Jan-2005)

Company Number: 01651212
Incorporation date: 14-Jul-1982
Status: Active
Entity type: Private Limited Company

SIC codes:
65110 Life insurance





SUMMARY

This company is 42.4 years old and is currently active. It is controlled by Wesleyan Assurance Society. The company has positive equity (net assets) of GBP 23.3 million which has decreased from the previous year's figure of GBP 24.8 million. The latest reported revenue figure is GBP 52.4 million which is similar to the previous year's figure of GBP 50 million. Retained earnings is negative (GBP -99.7 million), which means the company has aggregate losses since it's inception or it has paid more dividends than it can afford; given the company's age, this is a sign of serious financial problems. The company has 4 active officers (directors or partners) who are or were officers of 14 other companies. The company has no public disputes filed on the Business Disputes Register. There is one court case involving the company that we are aware of.


FINANCIALS (BETA)

Next accounts due: 30-Sep-2025
Accounts Filed: FULL (31-Dec-2023)


P&L Financials:
Year end Currency Revenue Operating profit Interest Received Interest Paid Tax Net Profit GBP
31-Dec-2019 GBP 52,433,000 -16,632,000 90,000 -16,542,000
31-Dec-2018 GBP 50,038,000 -15,137,000 51,000 361,000 -14,725,000
31-Dec-2017 GBP 58,140,000 -5,331,000 15,000 1,352,000 -3,964,000
31-Dec-2016 GBP 58,261,000 -3,790,000 25,000 -3,765,000 -3,668,000
31-Dec-2015 GBP 56,567,000 -3,438,000 32,000 -3,406,000 -3,276,000
31-Dec-2014 GBP 53,714,000 -6,822,000 25,000 -6,797,000 -6,203,000
31-Dec-2013 GBP 49,460,000 -11,015,000 27,000 -10,503,000
31-Dec-2012 GBP 54,648,000 2,918,000 40,000 3,066,000


Balance Sheet Financials:
Year end Currency Cash Current Assets Current Liabilities Debt Share Capital Premium Reserve Retained Earnings Net Assets
31-Dec-2019 GBP 22,633,000 8,719,000 123,000,000 -99,717,000 23,283,000
31-Dec-2018 GBP 22,004,000 8,846,000 108,000,000 -83,175,000 24,825,000
31-Dec-2017 GBP 11,235,000 7,897,000 82,000,000 -68,450,000 13,550,000
31-Dec-2016 GBP 10,959,000 7,715,000 77,000,000 -64,486,000 12,514,000
31-Dec-2015 GBP 16,120,000 5,953,000 77,000,000 -60,818,000 16,182,000
31-Dec-2014 GBP 16,690,000 20,878,000 9,004,000 70,000,000 -60,700,000 9,300,000
31-Dec-2013 GBP 16,112,000 20,033,000 6,397,000 65,000,000 -54,497,000 10,503,000
31-Dec-2012 GBP 16,919,000 20,456,000 55,000,000 -43,994,000 11,006,000

VALUATION EVENTS (BETA)

Year end Currency % Equity Sum raised Pre-Money Valuation* Post-Money Valuation* Enterprise Value**
31-Dec-2019 GBP 12.20% 15,000,000 108,000,000 123,000,000 93,181,500
31-Dec-2018 GBP 24.07% 26,000,000 82,000,000 108,000,000 78,380,500
31-Dec-2017 GBP 6.10% 5,000,000 77,000,000 82,000,000 68,403,000
31-Dec-2015 GBP 9.09% 7,000,000 70,000,000 77,000,000 57,095,000
31-Dec-2014 GBP 7.14% 5,000,000 65,000,000 70,000,000 51,099,000
31-Dec-2013 GBP 15.38% 10,000,000 55,000,000 65,000,000 43,484,500
* Average valuation during the period
** Estimated based on average Cash and Debt levels during period

DISPUTES

No disputes filed on www.disputesregister.org

COMPANY SECRETARY


Status Name Appointed on Resigned on Occupation Nationality All apointments
(active/resigned)
Active Selena Jane PRITCHARD 01 Jul 2018 05 Dec 2024 1 - 0
Resigned Doug BRIGHT 01 Jan 2014 30 Jun 2018 0 - 1
Resigned Joseph Alan John RODERICK 01 Dec 2012 01 Jan 2014 0 - 1
Resigned Selena Jane PRITCHARD 01 Apr 2011 01 Dec 2012 0 - 1
Resigned Joseph Alan John RODERICK 16 Sep 2002 31 Mar 2011 Chartered Accountant British 1 - 18
Resigned Roger Henry DOWSETT 05 Jun 2001 16 Sep 2002 Solicitor British 0 - 4
Resigned Christopher Gerard HUGHES 16 May 2001 British 1 - 3

DIRECTORS


Status Name Appointed on Resigned on Occupation Nationality All appointments
(active/resigned)
Dissolved companies
(rate)
Active Rita BAJAJ 06 Feb 2024 Company Director British 10 - 10 (0.0%)
Active Ian MCCAIG 14 Dec 2023 Company Director British 1 - 00 (0.0%)
Active Linda Jane WALLACE 29 Jun 2021 Company Director British 1 - 00 (0.0%)
Active Harpreet Singh, Dr SOOD 29 Jun 2021 General Practitioner (Gp) British 4 - 31 (14.3%)
Resigned Andrew Frederick John NEDEN 29 Jun 2021 09 Nov 2023 Company Director British 8 - 91 (5.9%)
Resigned Thomas Richard HARRISON 12 May 2020 29 Sep 2023 Company Director British 0 - 10 (0.0%)
Resigned Carol Anne BOSTON 27 Sep 2019 30 Mar 2021 Company Director British 1 - 20 (0.0%)
Resigned Andrew James D'ARCY 15 Jun 2018 27 Sep 2019 Interim Chief Customer Officer British 0 - 226 (27.3%)
Resigned Alan Mark JONES 01 Aug 2014 07 Apr 2018 Director British 0 - 32 (66.7%)
Resigned Robert Huelin GREEN 02 Apr 2012 31 Aug 2015 Director British 0 - 102 (20.0%)
Resigned Andrew James D'ARCY 01 Jan 2011 19 Dec 2014 Director British 0 - 226 (27.3%)
Resigned Samantha Jane PORTER 01 Jan 2011 31 Jul 2015 Director British 0 - 80 (0.0%)
Resigned Clive BRIDGE 24 Sep 2010 31 Dec 2010 Director British 1 - 183 (15.8%)
Resigned Philip Harding GREEN 01 Jan 2010 31 Dec 2010 Businessman British 1 - 63 (42.9%)
Resigned WESLEYAN ASSURANCE SOCIETY 08 Sep 2009 27 Jan 2010 0 - 10 (0.0%)
Resigned WESLEYAN FINANCIAL SERVICES LIMITED 08 Sep 2009 27 Jan 2010 0 - 10 (0.0%)
Resigned Keith NICHOLSON 08 Sep 2009 31 Dec 2010 Company Director British 0 - 60 (0.0%)
Resigned Martin Paul HOWARD 05 Sep 2008 31 Dec 2010 Operations Director British 0 - 80 (0.0%)
Resigned Andrew Spencer DOMAN 01 Jul 2008 31 Jul 2009 Management Consultant Australian 4 - 258 (27.6%)
Resigned Derek ZISSMAN 09 May 2008 31 Dec 2009 Chartered Accountant British 3 - 258 (28.6%)
Resigned Stephen Nicholas DEUTSCH 01 Aug 2007 19 Dec 2014 Managing Director British 0 - 234 (17.4%)
Resigned Bryan Samuel, Dr JACKSON 05 May 2007 31 Dec 2010 Company Director British 1 - 111 (8.3%)
Resigned Timothy Francis PINDAR 01 May 2005 31 Dec 2010 Actuary British 0 - 90 (0.0%)
Resigned Michael Gwyn LEWIS 01 May 2005 31 Dec 2010 Investment Director British 0 - 50 (0.0%)
Resigned John David RUTTER 01 May 2005 31 Dec 2010 Company Director British 0 - 130 (0.0%)
Resigned Edward Michael WORLEY 01 May 2005 04 May 2007 Company Director British 4 - 142 (11.1%)
Resigned David Stanley TYRRELL 01 May 2005 07 May 2010 Company Director British 0 - 40 (0.0%)
Resigned Michael CHRISTOPHERS 01 May 2005 09 May 2008 Company Director British 0 - 4810 (20.8%)
Resigned Ian John LAZENBY 01 Jan 2005 29 Aug 2008 Sales Director British 0 - 60 (0.0%)
Resigned Matthew John RODHOUSE 01 May 2004 31 Jul 2011 Business Controls Director British 1 - 80 (0.0%)
Resigned Lowry Druce MACLEAN 15 Sep 2003 07 May 2010 Company Director British 0 - 272 (7.4%)
Resigned Derek Alan BYFIELD 25 Jul 2003 31 Jan 2006 Operations Director British 0 - 40 (0.0%)
Resigned Peter Denis MCNAMARA 06 May 2003 23 Jul 2003 Managing Director British 1 - 3510 (27.8%)
Resigned John David RUTTER 06 May 2003 30 Apr 2004 Finance Director British 0 - 130 (0.0%)
Resigned Craig William ERRINGTON 06 May 2003 31 Jul 2019 Chief Executive British 0 - 253 (12.0%)
Resigned Frank William BROOKS 16 Sep 2002 30 Apr 2005 Actuary British 0 - 121 (8.3%)
Resigned Leigh Nattrass WHITTINGHAM 22 Feb 2002 16 Sep 2002 Chartered Accountant British 0 - 161 (6.3%)
Resigned John Angus Mcvicar, Dr GARNER 22 Oct 2000 16 Sep 2002 General Medical Practitioner British 0 - 70 (0.0%)
Resigned Samuel Andrew James LOVE 01 Aug 2000 08 Feb 2002 Chartered Accountant British 0 - 136 (46.2%)
Resigned Phillip Eric GOODINGS 28 Sep 1999 01 Aug 2000 Finance Director British 0 - 419 (22.0%)
Resigned Ian Robert WILSON 17 Sep 1998 16 Sep 2002 Medical Practitioner British 2 - 50 (0.0%)
Resigned Ian Gibb, Dr BOGLE 17 Sep 1998 16 Sep 2002 General Medical Practitioner British 0 - 61 (16.7%)
Resigned Anthony Herbert, Sir GRABHAM 05 Mar 1998 16 Sep 2002 General Surgeon British 0 - 81 (12.5%)
Resigned Peter Fraser, Dr BENNIE 03 Nov 1997 17 Sep 1998 Psychiatrist British 0 - 20 (0.0%)
Resigned Ian Andrew FAIR 04 Jun 1997 25 Feb 1999 Insurance Broker New Zealand 0 - 40 (0.0%)
Resigned William James, Dr APPLEYARD 26 Sep 1996 16 Sep 2002 Consultant Paediatrician British 0 - 60 (0.0%)
Resigned Leigh Nattrass WHITTINGHAM 14 Aug 1995 30 Apr 1997 Chartered Accountant British 0 - 161 (6.3%)
Resigned John Peter HASTINGS BASS 23 Feb 1995 08 Feb 2002 Insurance Broker British 0 - 233 (13.0%)
Resigned Alexander Wiseman, Sir MACARA 13 Oct 1993 17 Sep 1998 Medical Practitioner British 0 - 71 (14.3%)
Resigned John Christopher WINN 11 Jul 2003 Financial Planning Director British 0 - 30 (0.0%)
Resigned Michael Anthony WILSON 28 Sep 2000 Medical Practitioner British 0 - 40 (0.0%)
Resigned Dennis WILLIAMSON 24 Feb 1995 Insurance Broker British 0 - 52 (40.0%)
Resigned Leigh Nattrass WHITTINGHAM 30 Apr 1997 Chartered Accountant British 0 - 161 (6.3%)
Resigned John Alistair, Doctor RIDDELL 18 Sep 1997 Medical Practitioner British 0 - 80 (0.0%)
Resigned Anthony Herbert, Sir GRABHAM 16 Sep 2002 General Surgeon British 0 - 81 (12.5%)
Resigned Robert Anthony, Doctor KEABLE-ELLIOTT 26 Sep 1996 Medical Practitioner British 0 - 30 (0.0%)
Resigned Jeremy Patrick, Dr LEE-POTTER 03 Oct 1993 Medical Practitioner British 0 - 30 (0.0%)
Resigned Martin John WAKELEY 08 Feb 2002 Insurance Broker British 0 - 91 (11.1%)
Number of active directors: 4
Average tenure of active directors: 2.2 years
Average tenure of resigned directors: 2.8 years
Average active director Dissolution Rate: 3.6%

DIRECTOR APPOINTMENTS IN OTHER COMPANIES

Name
 
ECCLESIASTICAL INSURANCE OFFICE PUBLIC LIMITED COMPANY (00024869) - Active
DATAPHARM COMMUNICATIONS LIMITED (01317421) - Active
WESLEYAN FINANCIAL SERVICES LIMITED (01651212) - Active
BENEFACT GROUP PLC (01718196) - Active
COLUMBIA THREADNEEDLE FUND MANAGEMENT LIMITED (02170242) - Active
FIL LIFE INSURANCE LIMITED (03406905) - Active
THREADNEEDLE INVESTMENT SERVICES LIMITED (03701768) - Active
RBX SOLUTIONS LTD (06739343) - Active
C3 COLLABORATING FOR HEALTH (06941278) - Active
INDU PROPERTIES LIMITED (07628177) - Active
RAKSHA ADVISORY LIMITED (11000912) - Active
EDENTREE ASSET MANAGEMENT LIMITED (11923964) - Active
EDENTREE HOLDINGS LIMITED (14496067) - Active
COLUMBIA THREADNEEDLE INVESTMENT BUSINESS LIMITED (SC151198) - Active
WESLEYAN ASSURANCE SOCIETY (ZC000145) - Active

SHAREHOLDERS (BETA)

Shareholder name Share class Shares at confirmation date
2020-10-042019-10-042018-10-042017-10-042016-10-04
WESLEYAN ASSURANCE SOCIETYORDINARY123,000,000
100%
108,000,000
100%
92,000,000
100%
82,000,000
100%
77,000,000
100%

SHAREHOLDINGS (BETA)

no shareholding data

CONTROLLED COMPANIES / CONTROLLING ENTITIES



Controlling entities above

WESLEYAN FINANCIAL SERVICES LIMITED

no controlled companies

LATE PAYMENTS REPORT


Start date End date Average days to pay % invoices paid over 60 days % invoices not paid within agreed terms Gov.uk report
2024-01-01 2024-06-30 42 13% 32% 85980
2023-01-01 2023-12-31 56 21% 39% 78399
2023-01-01 2023-06-30 53 20% 43% 75387
2022-01-01 2022-12-31 43 18% 32% 66074
2022-01-01 2022-06-30 44 18% 33% 59016
2021-01-01 2021-12-31 39 18% 41% 52520
2021-01-01 2021-06-30 26 26% 40% 50254
2019-07-01 2019-12-31 20 5% 5% 25144
2019-01-01 2019-06-30 17 2% 15% 18893
2018-07-01 2018-12-31 33 20% 38% 10352
2018-01-01 2018-06-30 38 20% 38% 4252


COURT CASES


Date Title Reference Subject
2018-10-25 Mr N Singh v Wesleyan Financial Services Ltd and others [2018] UKET 1303144/2018 Race Discrimination

PATENTS


No Patents found

COMPETITORS

(Based on Sic code: 65110 Life insurance)

Company Registered Address Company Number YE Date Revenue GBP Net Profit GBP Other SIC codes
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PHOENIX LIFE LIMITED 1 WYTHALL GREEN WAY, WYTHALL, BIRMINGHAM, B47 6WG 01016269 2018-12-31 1,304,000,000 481,000,000
CANADA LIFE LIMITED CANADA LIFE PLACE, POTTERS BAR, HERTFORDSHIRE, EN6 5BA 00973271 2017-12-31 940,100,000 326,100,000
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UNUM LIMITED MILTON COURT, DORKING, SURREY, RH4 3LZ 00983768 2017-12-31 12,206,000 1,775,000 65120-Non-life insurance
CAPITA LIFE & PENSIONS SERVICES LIMITED FIRST FLOOR, 2 KINGDOM STREET, PADDINGTON, LONDON, ENGLAND, W2 6BD 04359665 2017-12-31 7,031,500 -1,964,426
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65300-Pension funding
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66190-Activities auxiliary to financial intermediation not elsewhere classified
66220-Activities of insurance agents and brokers
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65202-Non-life reinsurance
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LIQUIDATION RISK (BETA)



This company is Active. Statistically, Active companies have a low probability of being liquidated within a year.
Here are our probability predictions:
Basis Liquidation within 3 months Liquidation within 6 months Liquidation within 12 months Prediction confidence
WESLEYAN FINANCIAL SERVICES LIMITED 0.7% 3.6% 7.1% Medium
Other companies Active in the same sector 0.6% 2.1% 6.0% Medium
Age 0.4% 1.4% 2.7% Medium
Company Type 0.7% 3.7% 7.4% Medium
Accounts category 0.7% 2.2% 3.8% Medium
Accounting Month 0.6% 2.4% 5.5% Medium
Sic code count 0.7% 3.5% 7.0% Medium
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