Credit Labs Limited

Reference number: 717767

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Authorised by the FCA

This firm is on the FCA register and authorised to carry out regulated activities.

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.

In the full report: 3 background checks, 1 thing worth a closer look

  • When ratedrop.co.uk first appeared online, and whether it can receive email
  • What kind of line 0151 488 1040 is
  • Who else gives the postcode L3 9AG
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Other names (5)

If you were contacted under any of these names, it is this firm.

  • 1Plus1 Trading name
  • 1Plus1 Loans Trading name
  • Rate Drop Trading name
  • Rate Drop Loans Trading name
  • 1Plus1 Loans Limited Former name

FCA permissions and consumer protection

  • Lend or arrange credit No FSCS cover
    Consumer credit is not covered by the FSCS, so there is no compensation scheme if the firm fails.
  • Complaints Ombudsman, free
    You can refer a complaint about this firm to the Financial Ombudsman Service for free, whichever activity it relates to.
Show FCA detail (3 permissions)
  • Credit Broking
  • Entering into regulated credit agreement as Lender (Excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)
  • Exercising/having right to exercise lender's rights and duties under a regulated credit agreement (excluding high-cost short-term credit, bill of sale agreement, and home collected credit agreement)

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.

Companies House record

The company behind the firm: its status, age, registered office and directors.

Company number
08387053
Company status
Active
Company type
Private limited company
Incorporated
4 February 2013 (13 years old)
Registered office
1st Floor Yorkshire House, 18 Chapel Street, Liverpool, L3 9AG, England
Nature of business
  • Other credit granting not elsewhere classified (SIC 64929)

Directors and company secretaries

Name Role Born Appointed Other companies
Gary Paul Mckenna Director May 1979 4 Feb 2013 9 other companies

Other companies run by its director

A firm is run by people, and their other companies are their track record: what they built, what closed, and anything that failed. It is the check most people never think to make.

other companies
9
closed down
4
still active
5

In the full report: all 9 companies, named

  • What each company does, and whether it is still trading
  • Which of its director sits on each board, and since when
  • Any that went into liquidation or administration
  • All 4 people who have ever been directors, with their dates
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Filed accounts and finances

Year to 31 March 2024Full accountsAudited

Net assets

£1.30m

+187% from £455k

Cash at bank

£604k

+6.1% from £569k

Employees (average)

15

−6.3% from 16

Owed within a year

£1.37m

−63% from £3.73m

Assets and liabilities

In the full report: all 5 years of accounts

  • Every year from 2020 to 2024
  • The chart, over every year
  • Every filed figure, year by year
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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 08387053. 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

Credit Labs’s history from the FCA register and Companies House, newest first.

Key events (8) All events (21)

2025

2 September 2025

  • Changed its registered name from "1Plus1 Loans Limited"

FCA register

2024

2 January 2024

  • Paul McKenna no longer has significant control

Companies House

2016

2 August 2016

  • Regulated by the FCA from this date
  • Became authorised by the FCA

FCA register

6 April 2016

  • 1plus1 Loans (Holdings) Ltd took control (75–100% of shares)
  • Gary Paul McKenna gained significant control
  • Paul McKenna gained significant control

Companies House

2013

4 February 2013

  • Incorporated at Companies House

Companies House

In the full report: all 21 events

  • All 21 events in its history (8 shown here)
  • Every director appointment and resignation: 7
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Firms like Credit Labs

Other firms of the same type (lender), nearest first.

In Liverpool

Shop Direct Finance Company LimitedLiverpoolAuthorisedAcorn Insurance and Financial Services LimitedLiverpoolAuthorisedA & E E Callan LimitedLiverpoolAuthorisedA & S SuppliesliverpoolAuthorisedAlan O'connorLiverpoolAuthorisedAsh Loans LimitedLiverpoolAuthorised

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 Credit Labs

Everything on this page, plus everything locked above, in one dated PDF you can keep, file or send on.

  • 9 other companies its directors have run, named
  • 3 background checks on its contact details, 1 flagged
  • 5 years of accounts, charted
  • All 21 events in its history

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Frequently asked questions about this firm

Is Credit Labs Limited FCA authorised?
Yes, Credit Labs Limited (FRN 717767) is authorised by the FCA to carry out regulated activities. It has held its current authorisation since August 2016 and works as a lender. The FCA has placed no limits on its permissions.
What is Credit Labs’ phone number and website?
The FCA register lists the phone number 0151 488 1040 and the website ratedrop.co.uk for Credit Labs. If you were given different contact details, use these to check with the firm before going any further.
Is Credit Labs a scam or clone?
Credit Labs is a genuine FCA-listed firm, and the FCA has published no warnings about fake versions of it. Scammers do copy real firms, though, so check that any contact details you were given match the ones on the register.
Is my money safe with Credit Labs?
Its FCA permissions do not allow it to hold or control client money. Protection depends on which product you hold and how Credit Labs handles your money, so check the specific product before you commit. You can also refer complaints about Credit Labs to the Financial Ombudsman Service, free of charge.
Who owns Credit Labs?
Credit Labs is owned by 1plus1 Loans (Holdings) Ltd, which holds 75–100% of shares, 75–100% of votes and can appoint and remove the board, since 6 April 2016. Before that, it was controlled by Mr Paul McKenna.
Who runs Credit Labs?
Companies House lists one director of Credit Labs: Gary Paul McKenna.
How long has Credit Labs been in business?
The company was formed on 4 February 2013, and has held its current FCA authorisation since August 2016.
What do Credit Labs’ latest accounts show?
Its latest accounts, to 31 March 2024, show net assets of £1.30m (+187% from £455k) and cash at bank of £604k (+6.1% from £569k).
Does Credit Labs use any other names?
It trades as 1Plus1, 1Plus1 Loans, Rate Drop and Rate Drop Loans. It has previously used the name 1Plus1 Loans Limited.

Sources and links

The full report on Credit Labs Limited

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