Raedex Consortium Limited

Reference number: 668924

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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.

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).

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.

  • No website on the FCA register

  • No phone number on the FCA register

  • Address

    RSM Restructuring Advisory, 25, Farringdon Street, London, EC4A 4AB, United Kingdom

In the full report: 1 background check

  • Who else gives the postcode EC4A 4AB
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Other names (3)

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

  • Paygo Cars Trading name
  • Rent2OwnCars Trading name
  • Wheels4Sure Trading name

Past FCA permissions and consumer protection

  • In an insolvency process
    Money 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)
  • Credit Broking
  • Debt Adjusting
  • Debt-counselling
  • Entering into Regulated Consumer Hire Agreements as owner
  • Exercising or having the right to exercise the owner's rights and duties under a regulated consumer hire 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.

Concerns on the company record

  • Companies House records this company in liquidation, 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
07951186
Company status
Liquidation
Company type
Private limited company
Incorporated
15 February 2012 (14 years old)
Registered office
25 Farringdon Street, London, EC4A 4AB
Nature of business
  • Activities of other holding companies not elsewhere classified (SIC 64209)
  • Activities of head offices (SIC 70100)

Directors and company secretaries

Name Role Born Appointed Other companies
Reginald Larry-Cole Director May 1970 28 Oct 2013 8 other companies
Scott Andrew Martin Director May 1978 28 Oct 2013 5 other companies

Other companies run by these 2 directors

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
7
went insolvent
2

In the full report: all 9 companies, named

  • What each company does, and whether it is still trading
  • Which of these 2 directors sit on each board, and since when
  • The 2 that went into liquidation or administration
  • The 4 companies these 2 directors run together
  • All 3 people who have ever been directors, with their dates
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Filed accounts and finances

Year to 31 December 2019Small company accountsNot audited

Net assets

−£10.9m

No earlier figure to compare

Cash at bank

£34.2k

No earlier figure to compare

Employees (average)

21

No earlier figure to compare

Owed within a year

£190k

No earlier figure to compare

Its next accounts are overdue at Companies House.

Net assets are negative: on its last balance sheet the company owed £10.9m more than it owned.

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.

There is no turnover or profit: small companies do not have to publish them.

Accounts filed at Companies House for company 07951186. 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

Raedex Consortium’s history from the FCA register and Companies House, newest first.

Key events (4) All events (13)

2016

6 April 2016

  • Reginald Larry-Cole took control (75–100% of shares)

Companies House

29 January 2016

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

FCA register

2012

15 February 2012

  • Incorporated at Companies House

Companies House

In the full report: all 13 events

  • All 13 events in its history (4 shown here)
  • Every director appointment and resignation: 4
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Firms like Raedex Consortium

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

In London

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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 Raedex Consortium

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
  • 1 background check on its contact details
  • All 13 events in its history

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Frequently asked questions about this firm

Is Raedex Consortium Limited FCA authorised?
Yes, Raedex Consortium Limited (FRN 668924) is authorised by the FCA to carry out regulated activities. It is also in an insolvency process, under the control of insolvency practitioners, so deal with the appointed office holders rather than the firm. It has held its current authorisation since January 2016 and works as a credit broker. The FCA has placed no limits on its permissions.
Is Raedex Consortium a scam or clone?
Raedex Consortium 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 Raedex Consortium?
Raedex Consortium is under the control of insolvency practitioners, so money it held is returned through the appointed office holders rather than by the firm. That takes time and can fall short. Where money is missing, the FSCS covers eligible claims up to its limits, and the Financial Ombudsman Service can still consider a complaint.
Who owns Raedex Consortium?
Companies House lists one person with significant control of Raedex Consortium: Mr Reginald Larry-Cole (75–100% of shares).
Who runs Raedex Consortium?
Companies House lists 2 directors of Raedex Consortium: Reginald Larry-Cole and Scott Andrew Martin.
How long has Raedex Consortium been in business?
The company was formed on 15 February 2012. Companies House now lists it as liquidation.
What do Raedex Consortium’s latest accounts show?
Its latest accounts, to 31 December 2019, show net assets of −£10.9m (no earlier figure to compare) and cash at bank of £34.2k (no earlier figure to compare). Its accounts are overdue at Companies House.
Does Raedex Consortium use any other names?
It trades as Paygo Cars, Rent2OwnCars and Wheels4Sure.

Sources and links

The full report on Raedex Consortium Limited

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