@Rygel - Yes these are the annual company accounts, which by law must be filed within 9 months of the end of THEIR financial year (not the same for all companies).
Trading 212 Group Ltd accounting year runs January to December… so they should have filed by end of September 2021. As such they are nearly 3 months late in filing. For ANY company this means they will have to pay a fine… and for any financial institution they also risk a FCA (regulator) investigation with further penalties/restrictions imposed.
What is concerning is T212 do not communicate well, so people “assume” the worst. They have not explained why the delay in filing, or when the accounts will be filed, or for that matter why they had to not accept new accounts. (servers - really?)
So the last audited accounts T212 Group Ltd were December 2019, and these did NOT look good from an OPERATING (profits) perspective
Turnover down 47%
Operating profit down 71%
Retained profit down 69% (from £16m ro £9m)
… However they were not loss-making at that time, just a massive reduction.
They have a good balance sheet and were/are cash-rich, had cut some liabilities, cut dividends, and had an injection of shareholder funds to prop up the balance sheet and so in the end they are very liquid with £29m in the bank and £33m net worth.
So they did do all the right things to manage the situation. What has happened since (nearly 2 years now), we just don’t know. This is all publicly available information if you pay for it.
With £29m in the bank, it does beg the question why they needed to attract a £19m investment this year (as mentioned by Tony V @ T212) - unless those cash funds had fallen below FCA guidelines for liquidity.
They were also closed to all new accounts for a lengthy period (perhaps for same reasons - upgrading servers does not take this long!).
Since July/August 2021, that T212 is onboarding new investors:
Noteworthy is that a new T212 EU entity and the migration of existing EU investors to the new T212 EU entity demand the separation/segregation of assets from the existing T212 UK entity to the new T212 EU entity.
Sometimes people forget that T212 have both UK and EU investors and that Brexit have happen.