Time Finance plc Listed for High Court Scheme of Arrangement Hearing
Time Finance plc (company number 05845866) is scheduled to appear before the High Court Insolvency and Companies Court on 28 August 2026 at 10:30am. The matter, listed under case reference CR-2026-005565, concerns a court-sanctioned scheme of arrangement proceeding and is scheduled to be heard remotely via Microsoft Teams.
Hearing details
The hearing is listed on the official court cause list for the High Court of Justice, Chancery Division (Insolvency and Companies Court).
| Detail | Information |
| :--- | :--- |
| Company Name | Time Finance plc |
| Company Number | 05845866 |
| Case Reference | CR-2026-005565 |
| Court | High Court Insolvency and Companies Court |
| Case Type | Scheme of Arrangement |
| Hearing Date & Time | 28 August 2026 at 10:30am |
| Venue | Remotely via MS Teams |
A scheme of arrangement is a statutory procedure under Part 26 of the Companies Act 2006 enabling a company to make a compromise or arrangement with its members or creditors. It is a formal court process used both for corporate reorganisations and debt restructurings.
Company snapshot
Incorporated on 14 June 2006, Time Finance plc serves as the AIM-listed holding company for a UK financial services group. Operating under SIC code 64991 (financial services and security dealing on own account), the group provides commercial finance solutions to small and medium-sized enterprises across the United Kingdom. Its offering includes invoice finance, asset finance, commercial loans, and asset-based lending (ABL) ranging between £5,000 and £5,000,000.
According to the group's audited annual report for the financial year ended 31 May 2025, Time Finance plc reported:
- Turnover: £37,100,000
- Net Assets: £71,800,000
- Auditor Opinion: Unqualified
- Going Concern Flag: None noted in public audit filings
- Registered Office: 2nd Floor, St James House The Square, Lower Bristol Road, Bath, BA2 3BH
Further background details and filing histories are accessible via the Time Finance plc profile on Corp Intel.
Directors and ownership
As a publicly listed entity on the Alternative Investment Market (AIM), Time Finance plc is subject to the UK Corporate Governance Code standards and FCA disclosure rules. Public filings show that the company operates as a parent holding company over multiple operating subsidiaries.
Lenders and institutional funding partners maintain secured facilities across the operating group. Counterparties reviewing senior debt structures or capital allocations across the corporate group should conduct a full company charge check to verify registration dates, chargees, and asset encumbrances registered at Companies House.
Recent filings and Gazette activity
Public filings on the Companies House register reflect routine financial reporting and corporate compliance. No statutory insolvency notices, such as winding-up petitions or administration appointments, appear in The Gazette in connection with this proceeding.
Schemes of arrangement under Part 26 require initial court permission to convene class meetings of shareholders or creditors, followed by stakeholder voting and a final sanction hearing before High Court judges.
What this means for suppliers, creditors and counterparties
Schemes of arrangement differ fundamentally from compulsory insolvency procedures such as liquidation or administration. While schemes can be utilised for restructuring distressed liabilities, they are also routinely employed for group reorganisations, return of capital, or recommended takeover transactions.
Practical scenario: Counterparty assessment
Consider a commercial debt provider or major trade supplier assessing a counterparty involved in a High Court scheme hearing:
1. Identify the affected class: Determine whether the court application impacts equity holders, specific senior lenders, or trade creditors.
2. Review formal documentation: Obtain the explanatory statement circular issued pursuant to s.897 of the Companies Act 2006.
3. Assess credit status: Confirm whether existing payment terms remain unaffected by performing a targeted winding up petition search across group subsidiaries.
Step-by-step risk management checklist
- [ ] Check the cause list on the scheduled hearing date to monitor court directions.
- [ ] Verify whether your contract or debt exposure falls within the defined class of creditors or members.
- [ ] Sign up for free company monitoring to receive automatic alerts on all new court filings and Companies House updates.
- [ ] Review public statements issued by the company on the London Stock Exchange AIM market feed.
How to investigate further
Legal and financial advisers can track cause list updates through the High Court Chancery Division listing office or check the daily updates on Corp Intel's official roll. Additional commercial intelligence regarding corporate solvency listings across England and Wales can be monitored via the today's winding up petitions list on Corp Intel.
FAQ
Is a scheme of arrangement a sign of corporate insolvency?
No. A scheme of arrangement under Part 26 of the Companies Act 2006 is a flexible legal mechanism used for solvent corporate reorganisations, debt refinancing, or acquisitions, as well as solvent or insolvent restructurings. It does not automatically imply insolvency.
How does a scheme of arrangement affect trade suppliers?
Unless trade suppliers are explicitly included in the scheme class definition, standard trading terms and supply agreements usually continue without modification. Suppliers should review scheme documentation to confirm whether their claims fall within the scope of the proceedings.
What is the role of the High Court in a scheme of arrangement?
The High Court supervises the scheme process in two main stages: first, order hearings to direct how class meetings are convened; second, a sanction hearing to confirm that the statutory voting thresholds were met and that the scheme is fair.
Where can official notices regarding court schemes be verified?
Official legal notices are published in The Gazette and filed directly with Companies House once the court sanction order is lodged by the company.
Disclaimer
This report summarises entries on the published court cause list. Presentation of a petition is not a determination of insolvency; the outcome is a matter for the court. Companies believing they are named incorrectly should email contact@corp-intel.co.uk.