I called the OFT and checked if the company has a cc licence and it doesn't. the company in question is not in an exempted sector and it seems to be offering credit illegally.
I was given the number of my area consumer direct office and I passed on whan I knew of the company from the leaflet, my digging on the web and the calculations quoted on this ng.
I'm happy to say that /all/ details were taken by the OFT quickly and accurately and as I speak those details are winging their way to trading standards for /immediate/ action.
I thought the best approach would be to get the OFT to flag the company to TS instead of me trying to raise it as an issue and I think, no. I /know/ I've done the right thing in reporting this company which was incorporated in january, secured finance in febuary, issued flyers in april and, fingers crossed, will be shut down by may :D