jcb208
Member of DD Central
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Post by jcb208 on Jul 24, 2016 7:01:10 GMT
Just out of interest has anyone seen account figures or know if Savingstream are profitable yet,I know RS was in 2015.It would be nice to know if they are going in the right direction as this may well decide the future of the company
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adrianc
Member of DD Central
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Post by adrianc on Jul 24, 2016 7:40:20 GMT
Just out of interest has anyone seen account figures or know if Savingstream are profitable yet,I know RS was in 2015.It would be nice to know if they are going in the right direction as this may well decide the future of the company You're looking for Lendy Ltd on the various company check sites.
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Post by dodgeydave on Jul 24, 2016 7:53:26 GMT
Just out of interest has anyone seen account figures or know if Savingstream are profitable yet,I know RS was in 2015.It would be nice to know if they are going in the right direction as this may well decide the future of the company I dont remember the exact quote. But Tim did say something like they were the most profitable company in the universe
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 24, 2016 7:56:52 GMT
Just out of interest has anyone seen account figures or know if Savingstream are profitable yet,I know RS was in 2015.It would be nice to know if they are going in the right direction as this may well decide the future of the company I dont remember the exact quote. But Tim did say something like they were the most profitable company in the universe Yes, they did... Just Here  ... 
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jul 24, 2016 7:57:16 GMT
Their business model is lend at 18% then offload the loan and the risk to us at 12%. This does appear at first sight to be a licence to print money. I wish I had thought of it - and had the ability to set it up.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 24, 2016 8:05:22 GMT
According to the many websites that seem to mine the companies house website for information; Lendy Ltd have the following stats...
Cash
£3.7m
Net Worth
£270.4k
Assets
£10.2m
Liabilities
£10m
Furthermore, companies house has the PDF of Lendy Ltd accounts, and it indicates that the companies profit was £270,364
All the above was gathered via information provided from the accounts submitted on 31 Dec 2014. Thier next accounts are due soon (September, but they should submit it a tad earlier), so we'll get a better idea where they are with those (although, because they are so late submitting them, we're always going to be about year behind).
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Post by dualinvestor on Jul 24, 2016 8:11:02 GMT
The last accounts filed are for 31 December 2014. On the assumption that the company has not changed its accounting date, accounts to 31 December 2015 are due to be filed by 30 September 2016 (last year they were filed on 19 August).
There are various exemptions from the amount of information required to be published for small and medium sized companies, last year Lendy Limited qualified for the full exemption as a small company and published its Balance Sheet without a Profit and Loss account. It is probable that they still qualify under the Companies Acts as a small company and are eligible for the same exemptions. They do not have to avail themselves of the exemptions, other P2P sites do not, e.g. Zopa Limited is a small company within the meaning of the Companies Acts but does publish full accounts.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jul 24, 2016 8:18:07 GMT
The last accounts filed are for 31 December 2014. On the assumption that the company has not changed its accounting date, accounts to 31 December 2015 are due to be filed by 30 September 2016 (last year they were filed on 19 August). There are various exemptions from the amount of information required to be published for small and medium sized companies, last year Lendy Limited qualified for the full exemption as a small company and published its Balance Sheet without a Profit and Loss account. It is probable that they still qualify under the Companies Acts as a small company and are eligible for the same exemptions. They do not have to avail themselves of the exemptions, other P2P sites do not, e.g. Zopa Limited is a small company within the meaning of the Companies Acts but does publish full accounts. ( In Bold) They did submit their Profit & Loss Account... It does not go into detail but is clearly indicated in their 2014 accounts (£270,364)
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Post by dualinvestor on Jul 24, 2016 8:27:15 GMT
The last accounts filed are for 31 December 2014. On the assumption that the company has not changed its accounting date, accounts to 31 December 2015 are due to be filed by 30 September 2016 (last year they were filed on 19 August). There are various exemptions from the amount of information required to be published for small and medium sized companies, last year Lendy Limited qualified for the full exemption as a small company and published its Balance Sheet without a Profit and Loss account. It is probable that they still qualify under the Companies Acts as a small company and are eligible for the same exemptions. They do not have to avail themselves of the exemptions, other P2P sites do not, e.g. Zopa Limited is a small company within the meaning of the Companies Acts but does publish full accounts. ( In Bold) They did submit their Profit & Loss Account... It does not go into detail but is clearly indicated in their 2014 accounts (£270,364) They did not publish their profit and loss account. You may be referring to an entry on the Balannce Sheet headed "Profit and Loss Account" under "Capital and Reserves," this is the balance of the account, i.e. the accumulated profit or loss since incorporation to make the accounts balance. It is not in any way the Profit and Loss account, which would include, inter alia, turnover, gross profit, expenses, net profit and tax. The contents page of the accounts shows 1 Company Information 2 Abbreviated Balance Sheet 3 Notes to the Abbreviated accounts
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jul 24, 2016 8:31:54 GMT
( In Bold) They did submit their Profit & Loss Account... It does not go into detail but is clearly indicated in their 2014 accounts (£270,364) They did not publish their profit and loss account. You may be referring to an entry on the Balannce Sheet headed "Profit and Loss Account" under "Capital and Reserves," this is a Balance Sheet entry to make the accounts balance it is not in any way the Profit and Loss account, which would include, inter alia, turnover, gross profit, expenses, net profit and tax. The contents page of the accounts shows 1 Company Information 2 Abbreviated Balance Sheet 3 Notes to the Abbreviated accounts Yes... Like I said in my post... it does not go into detail. I'm just saying that it indicates their profit (which is what the OP was asking...). Lendy Ltd has grown significantly since those accounts; I would imagine they will have to submit their full accounts next time ( surely they are over that 6m turnover threshold).
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Post by dualinvestor on Jul 24, 2016 8:35:53 GMT
I would suggest you do a company search on Zopa Limuited to ascertain what a Profit and Loss account is.
The " Total exemption small company accounts" Lendy Ltd avaialed itself of in 2014 specifically refers to not publishing a profit and loss account
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Post by dualinvestor on Jul 24, 2016 8:40:13 GMT
They did not publish their profit and loss account. You may be referring to an entry on the Balannce Sheet headed "Profit and Loss Account" under "Capital and Reserves," this is a Balance Sheet entry to make the accounts balance it is not in any way the Profit and Loss account, which would include, inter alia, turnover, gross profit, expenses, net profit and tax. The contents page of the accounts shows 1 Company Information 2 Abbreviated Balance Sheet 3 Notes to the Abbreviated accounts Yes... Like I said in my post... it does not go into detail. I'm just saying that it indicates their profit (which is what the OP was asking...). Lendy Ltd has grown significantly since those accounts; I would imagine they will have to submit their full accounts next time ( surely they are over that 6m turnover threshold).The exemptions apply if a company does not meet two of three criterea (turnover, number of employees and balance sheet total) and there are three categories of companies, small, medium and larger (fewer and no exemptions for the latter two), as Zopa Limited still qualifies as a small company I doubt Lendy Ltd would be otherwise.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jul 24, 2016 8:40:23 GMT
I would suggest you do a company search on Zopa Limuited to ascertain what a Profit and Loss account is. The " Total exemption small company accounts" Lendy Ltd avaialed itself of in 2014 specifically refers to not publishing a profit and loss account I know what a Profit & Loss account is, and I'm not disagreeing with you! Like I said, in the next accounts we should (or might, from the criteria that you indicate) learn more.
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Post by dualinvestor on Jul 24, 2016 8:49:16 GMT
I would suggest you do a company search on Zopa Limuited to ascertain what a Profit and Loss account is. The " Total exemption small company accounts" Lendy Ltd avaialed itself of in 2014 specifically refers to not publishing a profit and loss account I know what a Profit & Loss account is, and I'm not disagreeing with you! Like I said, in the next accounts we should (or might, from the criteria that you indicate) learn more. You do seem to be disagreeing with me by saying that Lendy Ltd published their profit and loss account when they have not. (Not that in 2014 they were required to)
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jul 24, 2016 9:01:33 GMT
I know what a Profit & Loss account is, and I'm not disagreeing with you! Like I said, in the next accounts we should (or might, from the criteria that you indicate) learn more. You do seem to be disagreeing with me by saying that Lendy Ltd published their profit and loss account when they have not. (Not that in 2014 they were required to) Well, I'm not; I simply saying the accounts does give an indication of the companies profit, which is what the OP was asking. Sorry for the misunderstanding...
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