CrowdLords made a profit of £7,498 during the 12 months ending 31 January 2021, despite closing the platform to new investment in August 2020.
The property investment platform ceased regulated activity last year due to the ban on the marketing of speculative illiquid securities.
Newly published Companies House documents found that the company’s turnover dropped from £435,853 in 2020, to £266,348 in 2021.
The platform also reported a small profit, after making a loss of £22,913 during the 2020 financial year.
CrowdLords allowed investors to fund buy-to-let and development loans. However, following the Financial Conduct Authority’s (FCA) permanent ban on the mass-marketing of speculative illiquid securities, CrowdLords decided to cease all FCA-regulated activity with immediate effect.
In a message posted on its website, the lender said that “all current investments made via the CrowdLords platform remain valid and will continue under the terms set out when you invested”.
“CrowdLords will no longer be undertaking any FCA regulated investment activity,” the platform added. “We are considering our options and will make an announcement at a later date.”
In an interview with Peer2Peer Finance News last year, CrowdLords’ co-founder Richard Bush did not rule out a return to the market.
Bush said that the platform was planning to relaunch with a focus on sophisticated and high-net-worth investors.