the mortgage works (uk) plc
the mortgage works (uk) plc Company Information
Company Number
02222856
Next Accounts
Sep 2025
Shareholders
nationwide building society
Group Structure
View All
Industry
Other financial service activities, except insurance and pension funding, (not including security dealing on own account and factoring) n.e.c.
Registered Address
nationwide house pipers way, swindon, SN38 1NW
Website
www.themortgageworks.co.ukthe mortgage works (uk) plc Estimated Valuation
Pomanda estimates the enterprise value of THE MORTGAGE WORKS (UK) PLC at £3.1b based on a Turnover of £1.6b and 1.92x industry multiple (adjusted for size and gross margin).
the mortgage works (uk) plc Estimated Valuation
Pomanda estimates the enterprise value of THE MORTGAGE WORKS (UK) PLC at £24.6b based on an EBITDA of £3.7b and a 6.63x industry multiple (adjusted for size and gross margin).
the mortgage works (uk) plc Estimated Valuation
Pomanda estimates the enterprise value of THE MORTGAGE WORKS (UK) PLC at £3.8b based on Net Assets of £2.9b and 1.31x industry multiple (adjusted for liquidity).
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The Mortgage Works (uk) Plc Overview
The Mortgage Works (uk) Plc is a live company located in swindon, SN38 1NW with a Companies House number of 02222856. It operates in the financial intermediation not elsewhere classified sector, SIC Code 64999. Founded in February 1988, it's largest shareholder is nationwide building society with a 100% stake. The Mortgage Works (uk) Plc is a mature, mega sized company, Pomanda has estimated its turnover at £1.6b with high growth in recent years.
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The Mortgage Works (uk) Plc Health Check
Pomanda's financial health check has awarded The Mortgage Works (Uk) Plc a 3 rating. We use a traffic light system to show it exceeds the industry average on 4 measures and has 3 areas for improvement. Company Health Check FAQs
4 Strong
1 Regular
3 Weak
Size
annual sales of £1.6b, make it larger than the average company (£5.3m)
£1.6b - The Mortgage Works (uk) Plc
£5.3m - Industry AVG
Growth
3 year (CAGR) sales growth of 15%, show it is growing at a faster rate (6.7%)
15% - The Mortgage Works (uk) Plc
6.7% - Industry AVG
Production
with a gross margin of 21.1%, this company has a higher cost of product (55.4%)
21.1% - The Mortgage Works (uk) Plc
55.4% - Industry AVG
Profitability
an operating margin of 232.7% make it more profitable than the average company (9.1%)
232.7% - The Mortgage Works (uk) Plc
9.1% - Industry AVG
Employees
with 7353 employees, this is above the industry average (12)
- The Mortgage Works (uk) Plc
12 - Industry AVG
Pay Structure
There is insufficient data available for this Key Performance Indicator!
- The Mortgage Works (uk) Plc
- - Industry AVG
Efficiency
resulting in sales per employee of £217.1k, this is equally as efficient (£217.2k)
- The Mortgage Works (uk) Plc
£217.2k - Industry AVG
Debtor Days
There is insufficient data available for this Key Performance Indicator!
- - The Mortgage Works (uk) Plc
- - Industry AVG
Creditor Days
There is insufficient data available for this Key Performance Indicator!
- - The Mortgage Works (uk) Plc
- - Industry AVG
Stock Days
There is insufficient data available for this Key Performance Indicator!
- - The Mortgage Works (uk) Plc
- - Industry AVG
Cash Balance
has cash to cover current liabilities for 0 weeks, this is less cash available to meet short term requirements (29 weeks)
0 weeks - The Mortgage Works (uk) Plc
29 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 93%, this is a higher level of debt than the average (69.2%)
93% - The Mortgage Works (uk) Plc
69.2% - Industry AVG
THE MORTGAGE WORKS (UK) PLC financials
The Mortgage Works (Uk) Plc's latest turnover from March 2024 is £1.6 billion and the company has net assets of £2.9 billion. According to their latest financial statements, we estimate that The Mortgage Works (Uk) Plc has 7,353 employees and maintains cash reserves of £32.9 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 1,596,700,000 | 1,272,500,000 | 1,116,100,000 | 1,040,900,000 | 1,014,600,000 | 955,175,000 | 967,271,000 | 1,021,213,000 | 978,966,000 | 901,564,000 | 857,795,000 | 819,578,000 | 794,381,000 | 473,653,000 | 408,790,000 |
| Other Income Or Grants | 4,100,000 | 3,400,000 | 3,300,000 | ||||||||||||
| Cost Of Sales | 1,259,700,000 | 839,400,000 | 650,400,000 | 635,400,000 | 664,100,000 | 615,672,000 | 539,433,000 | 661,475,000 | 578,291,000 | 650,031,000 | 656,723,000 | 698,499,000 | |||
| Gross Profit | 337,000,000 | 433,100,000 | 469,800,000 | 408,900,000 | 353,800,000 | 339,503,000 | 427,838,000 | 359,738,000 | 400,675,000 | 251,533,000 | 201,072,000 | 121,079,000 | |||
| Admin Expenses | |||||||||||||||
| Operating Profit | |||||||||||||||
| Interest Payable | |||||||||||||||
| Interest Receivable | |||||||||||||||
| Pre-Tax Profit | 234,000,000 | 279,400,000 | 470,600,000 | 337,600,000 | 286,000,000 | 314,539,000 | 403,071,000 | 301,473,000 | 378,388,000 | 216,622,000 | 192,629,000 | 104,204,000 | 280,495,000 | 85,445,000 | 71,834,000 |
| Tax | -58,600,000 | -53,100,000 | -88,800,000 | -64,100,000 | -53,700,000 | -59,762,000 | -86,368,000 | -60,299,000 | -75,682,000 | -45,525,000 | -44,323,000 | -25,353,000 | -72,936,000 | -23,947,000 | -19,872,000 |
| Profit After Tax | 175,400,000 | 226,300,000 | 381,800,000 | 273,500,000 | 232,300,000 | 254,777,000 | 316,703,000 | 241,174,000 | 302,706,000 | 171,097,000 | 148,306,000 | 78,851,000 | 207,559,000 | 61,498,000 | 51,962,000 |
| Dividends Paid | 220,000,000 | 25,000,000 | |||||||||||||
| Retained Profit | 175,400,000 | 226,300,000 | 381,800,000 | 273,500,000 | 232,300,000 | 254,777,000 | 316,703,000 | 241,174,000 | 302,706,000 | 171,097,000 | 148,306,000 | 78,851,000 | -12,441,000 | 36,498,000 | 51,962,000 |
| Employee Costs | 9,811,000 | 13,161,000 | |||||||||||||
| Number Of Employees | 523 | 497 | |||||||||||||
| EBITDA* |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 41,403,300,000 | 38,489,200,000 | 19,196,915,000 | 17,236,112,000 | 12,003,078,000 | 9,311,056,000 | |||||||||
| Intangible Assets | |||||||||||||||
| Investments & Other | 41,621,200,000 | 42,111,800,000 | 41,396,700,000 | 38,483,000,000 | 31,252,667,000 | 29,632,988,000 | 29,205,559,000 | 27,700,731,000 | 23,312,895,000 | 20,867,145,000 | 19,196,467,000 | ||||
| Debtors (Due After 1 year) | 3,300,000 | 3,100,000 | 34,778,900,000 | ||||||||||||
| Total Fixed Assets | 41,621,200,000 | 42,111,800,000 | 41,400,000,000 | 38,486,100,000 | 34,778,900,000 | 31,252,667,000 | 29,632,988,000 | 29,205,559,000 | 27,700,731,000 | 23,312,895,000 | 20,867,145,000 | 19,196,915,000 | 17,236,112,000 | 12,003,078,000 | 9,311,056,000 |
| Stock & work in progress | |||||||||||||||
| Trade Debtors | 40,621,000 | 27,673,000 | 8,086,000 | ||||||||||||
| Group Debtors | 3,000 | 3,000 | 3,000 | 1,802,000 | 400,000 | 499,000 | 5,191,000 | ||||||||
| Misc Debtors | 11,100,000 | 3,000,000 | |||||||||||||
| Cash | 32,900,000 | 1,000,000 | 16,600,000 | 14,500,000 | 8,200,000 | 2,102,000 | 644,000 | 4,558,000 | 32,495,000 | 7,652,000 | 15,129,000 | 17,851,000 | 132,617,000 | 37,761,000 | 14,712,000 |
| misc current assets | 290,100,000 | 283,600,000 | 315,800,000 | 307,200,000 | 255,300,000 | 213,737,000 | 191,613,000 | 180,200,000 | 149,163,000 | 125,389,000 | 67,903,000 | 63,607,000 | |||
| total current assets | 334,100,000 | 287,600,000 | 332,400,000 | 321,700,000 | 263,500,000 | 215,842,000 | 192,260,000 | 184,761,000 | 183,460,000 | 133,441,000 | 83,531,000 | 86,649,000 | 173,265,000 | 65,441,000 | 22,809,000 |
| total assets | 41,955,300,000 | 42,399,400,000 | 41,732,400,000 | 38,807,800,000 | 35,042,400,000 | 31,468,509,000 | 29,825,248,000 | 29,390,320,000 | 27,884,191,000 | 23,446,336,000 | 20,950,676,000 | 19,283,564,000 | 17,409,377,000 | 12,068,519,000 | 9,333,865,000 |
| Bank overdraft | |||||||||||||||
| Bank loan | 2,798,000 | ||||||||||||||
| Trade Creditors | |||||||||||||||
| Group/Directors Accounts | 7,428,000,000 | 9,317,800,000 | 3,600,000 | 1,500,000 | 1,451,500,000 | 303,826,000 | 123,661,000 | 102,546,000 | 56,772,000 | 16,822,542,000 | 16,157,319,000 | 16,187,277,000 | |||
| other short term finances | |||||||||||||||
| hp & lease commitments | |||||||||||||||
| other current liabilities | 10,500,000 | 9,500,000 | 2,476,900,000 | 1,447,100,000 | 3,900,000 | 35,187,000 | 50,729,000 | 34,238,000 | 51,792,000 | 31,378,000 | 32,768,000 | 81,365,000 | |||
| total current liabilities | 7,438,500,000 | 9,327,300,000 | 2,480,500,000 | 1,448,600,000 | 1,455,400,000 | 339,013,000 | 177,188,000 | 136,784,000 | 108,564,000 | 16,853,920,000 | 16,190,087,000 | 16,268,642,000 | 17,236,037,000 | 11,882,664,000 | 9,184,438,000 |
| loans | 31,585,000,000 | 30,315,700,000 | 36,721,800,000 | 35,210,900,000 | 31,712,200,000 | 29,486,993,000 | 28,241,121,000 | 28,163,300,000 | 26,926,565,000 | 6,046,060,000 | 4,385,330,000 | 2,787,842,000 | |||
| hp & lease commitments | |||||||||||||||
| Accruals and Deferred Income | |||||||||||||||
| other liabilities | |||||||||||||||
| provisions | 220,000 | ||||||||||||||
| total long term liabilities | 31,585,000,000 | 30,315,700,000 | 36,721,800,000 | 35,210,900,000 | 31,712,200,000 | 29,486,993,000 | 28,241,121,000 | 28,163,300,000 | 26,926,565,000 | 6,046,060,000 | 4,385,330,000 | 2,787,952,000 | 210,000 | 254,000 | 286,000 |
| total liabilities | 39,023,500,000 | 39,643,000,000 | 39,202,300,000 | 36,659,500,000 | 33,167,600,000 | 29,826,006,000 | 28,418,309,000 | 28,300,084,000 | 27,035,129,000 | 22,899,980,000 | 20,575,417,000 | 19,056,594,000 | 17,236,247,000 | 11,882,918,000 | 9,184,724,000 |
| net assets | 2,931,800,000 | 2,756,400,000 | 2,530,100,000 | 2,148,300,000 | 1,874,800,000 | 1,642,503,000 | 1,406,939,000 | 1,090,236,000 | 849,062,000 | 546,356,000 | 375,259,000 | 226,970,000 | 173,130,000 | 185,601,000 | 149,141,000 |
| total shareholders funds | 2,931,800,000 | 2,756,400,000 | 2,530,100,000 | 2,148,300,000 | 1,874,800,000 | 1,642,503,000 | 1,406,939,000 | 1,090,236,000 | 849,062,000 | 546,356,000 | 375,259,000 | 226,970,000 | 173,130,000 | 185,601,000 | 149,141,000 |
| Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 | Mar 2014 | Mar 2013 | Mar 2012 | Mar 2011 | Mar 2010 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | |||||||||||||||
| Depreciation | 15,000 | ||||||||||||||
| Amortisation | |||||||||||||||
| Tax | -58,600,000 | -53,100,000 | -88,800,000 | -64,100,000 | -53,700,000 | -59,762,000 | -86,368,000 | -60,299,000 | -75,682,000 | -45,525,000 | -44,323,000 | -25,353,000 | -72,936,000 | -23,947,000 | -19,872,000 |
| Stock | |||||||||||||||
| Debtors | 8,100,000 | -300,000 | 200,000 | -34,775,800,000 | 34,778,897,000 | -1,799,000 | 1,402,000 | -99,000 | -4,692,000 | -35,430,000 | 12,948,000 | 19,587,000 | 8,086,000 | ||
| Creditors | |||||||||||||||
| Accruals and Deferred Income | 1,000,000 | -2,467,400,000 | 1,029,800,000 | 1,443,200,000 | -31,287,000 | -15,542,000 | 16,491,000 | -17,554,000 | 20,414,000 | -1,390,000 | -48,597,000 | 81,365,000 | |||
| Deferred Taxes & Provisions | -220,000 | 220,000 | |||||||||||||
| Cash flow from operations | |||||||||||||||
| Investing Activities | |||||||||||||||
| capital expenditure | |||||||||||||||
| Change in Investments | -490,600,000 | 715,100,000 | 2,913,700,000 | 38,483,000,000 | -31,252,667,000 | 1,619,679,000 | 427,429,000 | 1,504,828,000 | 4,387,836,000 | 2,445,750,000 | 1,670,678,000 | 19,196,467,000 | |||
| cash flow from investments | |||||||||||||||
| Financing Activities | |||||||||||||||
| Bank loans | -2,798,000 | 2,798,000 | |||||||||||||
| Group/Directors Accounts | -1,889,800,000 | 9,314,200,000 | 2,100,000 | -1,450,000,000 | 1,147,674,000 | 180,165,000 | 21,115,000 | 45,774,000 | -16,765,770,000 | 665,223,000 | -29,958,000 | 16,187,277,000 | |||
| Other Short Term Loans | |||||||||||||||
| Long term loans | 1,269,300,000 | -6,406,100,000 | 1,510,900,000 | 3,498,700,000 | 2,225,207,000 | 1,245,872,000 | 77,821,000 | 1,236,735,000 | 20,880,505,000 | 1,660,730,000 | 1,597,488,000 | 2,787,842,000 | |||
| Hire Purchase and Lease Commitments | |||||||||||||||
| other long term liabilities | |||||||||||||||
| share issue | |||||||||||||||
| interest | |||||||||||||||
| cash flow from financing | -620,500,000 | 2,908,100,000 | 1,513,000,000 | 2,048,700,000 | 3,372,878,000 | 1,404,026,000 | 101,734,000 | 1,282,509,000 | 4,114,735,000 | 2,325,953,000 | 1,567,513,000 | 18,950,108,000 | |||
| cash and cash equivalents | |||||||||||||||
| cash | 31,900,000 | -15,600,000 | 2,100,000 | 6,300,000 | 6,098,000 | 1,458,000 | -3,914,000 | -27,937,000 | 24,843,000 | -7,477,000 | -2,722,000 | -114,766,000 | 94,856,000 | 23,049,000 | 14,712,000 |
| overdraft | |||||||||||||||
| change in cash | 31,900,000 | -15,600,000 | 2,100,000 | 6,300,000 | 6,098,000 | 1,458,000 | -3,914,000 | -27,937,000 | 24,843,000 | -7,477,000 | -2,722,000 | -114,766,000 | 94,856,000 | 23,049,000 | 14,712,000 |
the mortgage works (uk) plc Credit Report and Business Information
The Mortgage Works (uk) Plc Competitor Analysis
Perform a competitor analysis for the mortgage works (uk) plc by selecting its closest rivals, whether from the FINANCIAL AND INSURANCE ACTIVITIES sector, other mega companies, companies in SN38 area or any other competitors across 12 key performance metrics.
the mortgage works (uk) plc Ownership
THE MORTGAGE WORKS (UK) PLC group structure
The Mortgage Works (Uk) Plc has 2 subsidiary companies.
Ultimate parent company
NATIONWIDE BUILDING SOCIETY
#0006255
1 parent
THE MORTGAGE WORKS (UK) PLC
02222856
2 subsidiaries
the mortgage works (uk) plc directors
The Mortgage Works (Uk) Plc currently has 5 directors. The longest serving directors include Mr David Alun (Apr 2009) and Mr Gavin Smyth (Mar 2021).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr David Alun | 50 years | Apr 2009 | - | Director | |
| Mr Gavin Smyth | United Kingdom | 47 years | Mar 2021 | - | Director |
| Ms Rachael Sinclair | United Kingdom | 48 years | Jun 2021 | - | Director |
| Mr Henry Jordan | 51 years | Aug 2024 | - | Director | |
| Mr Muir Mathieson | England | 50 years | Sep 2024 | - | Director |
P&L
March 2024turnover
1.6b
+25%
operating profit
3.7b
0%
gross margin
21.2%
-37.99%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
March 2024net assets
2.9b
+0.06%
total assets
42b
-0.01%
cash
32.9m
+31.9%
net assets
Total assets minus all liabilities
the mortgage works (uk) plc company details
company number
02222856
Type
Public limited with Share Capital
industry
64999 - Other financial service activities, except insurance and pension funding, (not including security dealing on own account and factoring) n.e.c.
incorporation date
February 1988
age
37
incorporated
UK
ultimate parent company
accounts
Full Accounts
last accounts submitted
March 2024
previous names
sun bank plc (January 2004)
sun banking corporation limited (April 1998)
See moreaccountant
-
auditor
ERNST & YOUNG LLP
address
nationwide house pipers way, swindon, SN38 1NW
Bank
-
Legal Advisor
-
the mortgage works (uk) plc Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We found 3 charges/mortgages relating to the mortgage works (uk) plc. Currently there are 0 open charges and 3 have been satisfied in the past.
the mortgage works (uk) plc Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
Click to start generating capital raising & share issue transactions for THE MORTGAGE WORKS (UK) PLC. This can take several minutes, an email will notify you when this has completed.
the mortgage works (uk) plc Companies House Filings - See Documents
| date | description | view/download |
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