--- title: "MFS accounts: company assets and network funding" language: en canonical: https://osint.v3rta.com/dossiers/market-financial-solutions/topics/financial-history/ as_of: 2026-10-09 keywords: ["Market Financial Solutions","MFS","Paresh Raja","Pratibha Raja","mortgage servicing","bridging finance","securitisation","administration","Twinwin","Cronus Finance","Galaktikos","Trident Funding"] --- # MFS accounts: company assets and network funding **Question.** How do MFS financial statements differ from wider funding figures? **Answer.** The retained accounts report growth in revenue and profit, but the company balance sheet and the wider network’s institutional financing measure different things. ## The 2023 accounting perimeter - Analysis: The 2023 consolidated accounts recorded revenue of £44,192,513 and net assets of £8,155,950. Bridging receivables comprised £106,879,458 due within a year and £96,625,230 due later. Market Bridge Solutions in Singapore was disclosed as the sole subsidiary, with a 100% holding valued at £61,751. [s-d14] - Analysis: The strategic report referred to £1.252 billion of new institutional funding and £1.07 billion of increases to existing facilities for the group and affiliates. Those facility figures cannot be substituted for the £203.5 million accounting loan portfolio. Related-party interest, fees and balances are separately disclosed; the £11,317,900 figure concerns operating lease commitments. [s-d14] - Qualification: The £11,317,900 figure concerns operating lease commitments, separately from related-party balances. ## The 2024 accounts and their limits - Analysis: The 2024 statements recorded revenue of about £71.6 million, net profit of £7,629,382 and net assets of £15,870,706. Bridging receivables totalled £179,812,865 and group-company receivables rose to £52,546,535. The strategic narrative repeated the wider £2.4 billion portfolio and institutional-funding figures. Its use of company and group language does not resolve that perimeter: the £2.4 billion narrative figure cannot be treated as the company’s accounting receivables. [s-d44] - Qualification: Dividends are aggregate director-share dividends, not individually allocated payments. The £2.4 billion scope is not reconciled in that passage with the £179.8 million company loan book. Repeated funding figures in successive reports cannot safely be added as separate funding raised. Company 2023 comparatives differ from consolidated 2023 figures. - Analysis: Borrowings due within and beyond one year were £101,591,890 and £68,327,465 respectively. The accounts also disclosed substantial related-party balances without naming every counterparty. Later administrators questioned the amount and ownership of recoverable assets; audited historical figures therefore should not be read as recovery estimates. [s-d44] [s-d43] [s-d69] - Qualification: Related-party counterparties remain unnamed; balances are not the same concept as the broader group-undertaking debtor total. Registered-company charges and charges over underlying assets are different scopes; absence of outstanding MFS register charges does not prove how every loan was secured. Bridge recovery is uncertain. The source of buy-to-let funding was still being reconciled and would determine whether MFS was entitled to collections. ## Sources - [s-d14] MFS annual report and consolidated accounts to 31 December 2023, Companies House - [s-d44] MFS annual report and accounts to 31 December 2024, Companies House - [s-d43] MFS joint administrators’ proposals, 21 April 2026, Companies House - [s-d69] MFS joint administrators’ progress report, period 25 February–24 August 2026, Companies House