FSCS confirms 4 firms declared in default in December 2024 and January 2025
FSCS has confirmed that the four firms below were declared in default in the last two months – which means they have gone out of business and are unable to meet any claims themselves.
Customers who may be owed money by these firms can see if they’re protected by visiting the FSCS website at www.fscs.org.uk/what-we-cover.
If a regulated financial firm is no longer trading and cannot pay a customer’s claim, FSCS can step in to pay compensation if certain requirements are met.
We’re independent and our service is free to customers. Our protection covers money held in bank, building society and credit union accounts. FSCS also protects pensions, financial advice, insurance, investments, mortgage advice and arranging, debt management and funeral plans.
Sabah Carter, Chief Data, Intelligence and Technology Officer at FSCS said: “FSCS is here to protect consumers across the UK and to contribute to financial stability. Our free and independent service helps get people back on track when financial firms fail. It doesn't take long to put a claim in online and customers can also get help from our expert claims handlers if they need it.”
Visit www.fscs.org.uk if you wish to make a claim with FSCS against any of these firms. You can also contact our Customer Services Team on Freephone 0800 678 1100 or +44 20 7741 4100, or by email at enquiries@fscs.org.uk.
For the latest FSCS news and information visit www.fscs.org.uk or follow @FSCS on X (Twitter).
Defaults declared by FSCS from 1 December 2024 to 31 January 2025 (4 firms):
| Firm | Address | Date declared in default |
|
Bourne House Limited formerly F T Financial Management Limited (FRN 462820) |
Linen Hall, Suite 540, 5th Floor, 162-168 Regent Street, London, W1B 5TF | 16/12/2024 |
|
Broadfoot, McKee and Hamilton trading as Professional Financial Services (FRN 145073) |
280 St. Vincent Street, Glasgow Lanarkshire, G2 5RL |
09/01/2025 |
|
Holborn Assets Limited t/a Cheshire Pension Consultants, Expatriate Financial Planning Services (FRN 648817) |
Suite 7, Chester House, 79 Dane Road, Sale, Cheshire, M33 7BP | 17/01/2025 |
|
London Community Credit Union Ltd (FRN 213743) |
473 Bethnal Green Road, London, E2 9QH |
22/01/2025 |
So far, this financial year (from 01/04/2024) FSCS has declared 40 firms in default. Of these firms, the top five in terms of compensation paid out (at the end of January) are:
| Firm | Date declared in default | Compensation paid at 31/01/25 |
| London Community Credit Union Limited (FRN 213743) | 22/01/2025 |
£13.2m* |
| Alexander David Securities Limited (FRN 469150) | 30/04/2024 |
£5.2m |
| Castle & Crystal Credit Union Limited (FRN 213711) | 21/05/2024 |
£2.4m |
| Haich & Associates (UK) Limited (FRN 791582) | 11/06/2024 |
£800,000 |
| Colbourne & Company (FRN 125003) | 26/09/2024 |
£100,000-£200,000 |
We also continue to pay compensation for claims relating to failures declared in previous financial years. We provide full updates on our compensation figures in our regular industry publications which you can find on our website.
*Total compensation is expected to be £15.4m.
Media enquiries
Email:publicrelations@fscs.org.uk