Terry Leather (JASON STATHAM) is a petty criminal and family man -- husband to Catherine (TAELOR SAMWAYS) and father to their two kids -- who runs a small auto shop, but owes a lot of money to someone whose thugs don't let him forget that. Accordingly, when his former lover, model Martine Love (SAFFRON BURROWS), comes to him with information about a potential bank heist, he's initially cautious, but soon likes the sound of the job.
What he doesn't know, however, is that she's having an affair with Tim Everett (RICHARD LINTERN), an operative with Britain's MI5 intelligence agency who's actually the one behind the heist. It seems that Caribbean drug lord and black power figure Michael X (PETER DE JERSEY) is in the possession of some potentially embarrassing sex photos of Princess Margaret and is using them to blackmail the government to stay out of his business.
With MI5 having one of its undercover agents, Gale Benson (HATTIE MORAHAN), working from the inside by becoming the lover to Michael X's associate, Hakim Jamal (COLIN SALMON), Tim has learned that the photos are locked away in a safe-deposit box in Lloyds Bank in London. And with Martine needing help with drug possession charges, Tim forces her hand in convincing Terry to take the job.
With him needing the money to keep the debt goons at bay, he and his friends, amateur porn actor Dave Shilling (DANIEL MAYS) and photographer Kevin Swain (STEPHEN CAMPBELL MOORE) begin assembling their team. Tunnel expert Bambas (ALKI DAVID) will help in going underground from a nearby store -- leased by Guy Singer (JAMES FAULKNER) -- while Eddie Burton (MICHAEL JIBSON) will serve as the lookout from an adjacent roof.
Despite the complications, however, the heist turns out to be the easy part, as the repercussions of their act progressively mount, from the local cops trying to solve the crime, to MI5 wanting their photos, Michael X angry about who stole them from him, and local smut peddler Lew Vogel (DAVID SUCHET) wanting to know who stole his incriminating client ledger from his safe-deposit box. As all of them come looking for the thieves, Terry tries to figure out how to handle all of that and more.