One Four Nine Group has said the business is now profitable despite being more than two years late filing its accounts.
The company should have filed its accounts for 2023 by the end of March 2024, but this has yet to happen.
It should have also filed its accounts for 2024 by March 31, 2025, but these have not appeared yet, according to data filed at Companies House.
A representative from One Four Nine Group, told FT Adviser the overdue accounts would be filed “very soon”.
They added: “The past 18 months has been a successful and very busy period for the business with significant progress in key strategic areas.
“These include the integration of our regional businesses and the launch of a unified brand – One Four Nine Wealth – as well as continuing our acquisition journey with the addition of further businesses whose values and culture align with our own.
“All of our regulated entities are well-capitalised and the group is now profitable.”
The accounts for the year to March 2022, the most recent set of numbers available, showed the business lost £2.6mn, having lost £1.2mn the previous year.
As of the end of March 2022, the company had assets under management of £1.5bn.
It has acquired several firms since then so the assets under management are likely to be higher.
For example, back in November 2024 the firm bought Nottingham-based Castlegate Capital for an undisclosed sum.
This was One Four Nine’s 10th deal but its first of 2024 after focusing on fully integrating all other purchased firms into the business.
The accounts show shareholder loans of £9.536mn, which were made to the firm on an interest free basis and with no repayment date.
The company also has a charge against its assets, a form of secured borrowing. That charge was first taken against its assets in 2022, and was renewed this March. It is with Wilmington Trust.
One Four Nine Group is backed by Copper Street Capital, a business which describes itself as specialising in alternative investments.
It is led by Jerry Del Missier, a former chief operating officer at Barclays Bank, who resigned, alongside several colleagues, in the wake of the Libor fixing settlement made by the high street bank.
david.thorpe@ft.com
