Authorised, but in an insolvency process
This firm is under the control of insolvency practitioners and may have stopped taking on new business. If you are or were a customer, deal with the appointed office holders rather than the firm.
- No FCA actions
- Accounts filed up to 31 December 2023
- Company: in administration
- Accounts are overdue at Companies House
- Confirmation statement is overdue at Companies House
- 1 thing worth a closer look in the background checks
What the FCA says
ATTENTION - Firm in an insolvency process
This firm is in an insolvency process. It is under the control of the appointed insolvency office holder(s) and may have stopped taking on new business. It has to continue to meet our standards in line with its regulatory status, including when dealing with its customers. If you are/were a customer check how this affects you with the firm or the appointed insolvency office holder(s).
This company holds another FCA record
A company can hold several FCA records, covering different parts of its business, and each one carries its own permissions and protection. The reference number you were given decides which record applies to you.
Website, phone number and address
Compare these against whatever you were given. Scammers clone real firm names and reference numbers but use their own phone number and website, so a detail that does not match the register is the clearest warning sign there is.
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No website on the FCA register
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No phone number on the FCA register
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Address
Adam Stephens, Philip Hemming and Kevin Ley of S&W Partners LLP, S&W Partners, 45 Gresham Street, London, EC2V 7BG, United Kingdom
In the full report: 1 background check, 1 thing worth a closer look
- Whether EC2V 7BG is a shared office: 22 other firms give it
Warning
Scammers have impersonated this firm
Fraudsters have used this firm's name or details with their own contact information to appear genuine. Check whatever you were given below, and against the firm's real details above.
Fake websites (1)
- e-bangocard.com
The FCA warning these came from
- E-Bango Card 8 September 2021
Scammers change these details often. Always check the live FCA warning.
Past FCA permissions and consumer protection
- In an insolvency processMoney the firm held is returned through the appointed office holders, which takes time and can fall short. The FSCS covers eligible claims up to its limits, and the Ombudsman can still look at a complaint.
Show FCA detail (5 permissions)
- 1. Services enabling cash to be placed on a payment account as well as all the operations required for operating a payment account.
- 2. Services enabling cash withdrawals from a payment account as well as all the operations required for operating a payment account.
- 3. Executing payment transactions (no credit line)
- 5. Issuing and/or acquiring of payment instruments.
- 6. Money remittance.
Limits on the record
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Restriction on activities
The Firm must not, without the prior written consent of the Authority, conduct any payment services as defined under regulation 2(1) of the Payment Services Regulations 2017.
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Retention and notification requirements
6. By 4pm on Sunday, 19th November 2023, the Firm must: a. Display, in a prominent place on its website, in terms, font and size to be agreed with the Authority, outlining the effect of the Requirements and providing links to the relevant website address of the entry in the Authority’s register relating to the Firm where the terms of those Requirements will appear. b. Write to all clients informing them of the imposition of these Requirements and their effects, and that it will be taking all reasonable steps to return all balances held by it on their behalf. The wording of this communication is to be first agreed with the Authority. 7. The Firm must secure all books and records and preserve all information, including material held via online/cloud-based systems to which the Firm has access, in relation to regulated activities carried on by it and, in addition, regulated activities carried out for or in relation to customers with whom it is not authorised to deal. These books and records must be retained in a form and at a location within the UK to be notified to the Authority within 24 hours of the receipt of this notice. The records must be retained in a form and at a location such that they can be provided to the Authority, or to a person named by the Authority, promptly upon its request. 8. These Requirements shall remain in force unless and until varied or cancelled by the Authority (either on the application of the Firm or of the Authority’s own volition).
FCA disciplinary action and complaints
No FCA disciplinary action.
The Financial Ombudsman Service only publishes complaint figures for firms with 30 or more new complaints in six months, so there are none here for this firm.
The clone warnings above are scammers using this firm's name, not something the firm has done.
Companies House record
The company behind the firm: its status, age, registered office and directors.
Concerns on the company record
- Companies House records this company in administration, but it is still authorised on the FCA register.
- Accounts are overdue at Companies House.
- Confirmation statement is overdue at Companies House.
- This company has insolvency history on record.
- Company number
- 10024682 (opens Companies House in a new tab)
- Company status
- Administration
- Company type
- Private limited company
- Incorporated
- 24 February 2016 (10 years old)
- Registered office
- C/O Rrs Department, S&W Partners Llp, 45 Gresham Street, London, EC2V 7BG
- Nature of business
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- Financial intermediation not elsewhere classified (SIC 64999)
Filed accounts and finances
Turnover
£7.70m
Not compared: the previous accounts cover a different length of time
Profit before tax
−£1.37m
Not compared: the previous accounts cover a different length of time
Total equity
£1.63m
+41% from £1.15m
Cash at bank
£237k
−76% from £988k
Its next accounts are overdue at Companies House.
The previous accounts cover 18 months, so turnover and profit are not compared with them.
Assets and liabilities
About these figures
- Turnover
- Money taken from sales in the year, before any costs.
- Profit before tax
- What was left after the year’s costs, before corporation tax. A minus figure is a loss.
- Net assets, or total equity
- Everything the company owns minus everything it owes. A minus figure means it owes more than it owns.
- Total assets and total liabilities
- Everything the company owns, and everything it owes, on the last day of the year. The gap between them is its net assets.
- Cash at bank
- Money in the company’s accounts on the last day of the year.
- Owed within a year, owed after a year
- Debts and bills due in the next twelve months, and those due later.
Accounts filed at Companies House for company 10024682. Every figure is as filed, apart from total assets and total liabilities, which are added up from filed figures. Nothing is estimated.
Key dates in its history
Blackthorn Finance’s history from the FCA register and Companies House, newest first.
2023
17 November 2023
- FCA imposed a requirement (Restriction on activities)
- FCA imposed a requirement (Retention and notification requirements)
FCA register
31 July 2023
- Board replaced: both directors left and 2 new directors took over
Companies House
2021
8 September 2021
- FCA warned the public about a scam impersonating this firm
FCA warning list
2020
1 July 2020
- Regulated by the FCA from this date
- Became an authorised payment institution
FCA register
2018
14 December 2018
- Senit Limited gave up control
- Steven FS Limited took control (75–100% of shares)
Companies House
2017
30 June 2017
- Board replaced: its only director left and a new director took over
Companies House
2016
6 April 2016
- Senit Limited took control (75–100% of shares)
Companies House
24 February 2016
- Incorporated at Companies House
Companies House
In the full report: all 27 events
- All 27 events in its history (11 shown here)
- Every director appointment and resignation: 16
Firms like Blackthorn Finance
Other firms of the same type (payment or money transfer firm), nearest first.
In London
Firms are listed by type and location, best known first. Being listed is not a recommendation: check any firm before you deal with it.
Get the full report on Blackthorn Finance
Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.
- 1 background check on its contact details, 1 flagged
- All 27 events in its history
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Frequently asked questions about this firm
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Sources and links
- Its entry on the FCA register register.fca.org.uk
- Its Companies House record gov.uk
- FCA warning: E-Bango Card fca.org.uk
- Report a scam to the FCA fca.org.uk