VPI HOLDING LIMITED
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Cash
£172m
+83.3% vs 2024
Net assets
£327m
-32.5% lowest in 3 filed years
Employees
316
+6.4% highest in 3 filed years
Profit before tax
-£85m
-1,939.1% lowest in 3 filed years
Net assets
3-year trend · vs Utilities median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £3,969,200,000 | £1,881,000,000 | £2,121,700,000 | +12.8% | |
| Operating profit | £228,300,000 | £36,000,000 | -£35,800,000 | -199.4% | |
| Profit before tax | £196,800,000 | £4,600,000 | -£84,600,000 | -1,939.1% | |
| Net profit | £156,500,000 | £14,500,000 | -£63,000,000 | -534.5% | |
| Cash | £173,000,000 | £94,000,000 | £172,300,000 | +83.3% | |
| Total assets less current liabilities | £1,279,500,000 | £986,000,000 | £1,113,500,000 | +12.9% | |
| Net assets | £587,300,000 | £484,900,000 | £327,200,000 | -32.5% | |
| Equity | £587,300,000 | £484,900,000 | £327,200,000 | -32.5% | |
| Average employees | 262 | 297 | 316 | +6.4% | |
| Wages | £38,200,000 | £36,800,000 | £32,900,000 | -10.6% | |
| Directors' remuneration | — | £300,000 | £1,100,000 | +266.7% | |
| Highest paid director | — | £300,000 | £1,000,000 | +233.3% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 5.8% | 1.9% | -1.7% | |
| Net margin | 3.9% | 0.8% | -3.0% | |
| Return on capital employed | 17.8% | 3.7% | -3.2% | |
| Gearing (liabilities / total assets) | 68.9% | 69.3% | 78.0% | |
| Current ratio | 1.56x | 1.01x | 1.35x | |
| Interest cover | 3.46x | 0.55x | -0.51x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 1 time since incorporation
- VPI HOLDING LIMITED 2013-06-25 → present
- TEAK POWER OPERATIONS LIMITED 2013-04-11 → 2013-06-25
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- Deloitte LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“Therefore, the Directors conclude that there are no material uncertainties relating to events or conditions that may cast significant doubt over the ability of the Group to continue as a going concern and hold a reasonable expectation that the Group has the ability to continue to meet its obligations. Accordingly, the Directors continue to adopt the going concern basis in preparing the financial statements.”
Group structure
- VPI HOLDING LIMITED · parent
- VPI Immingham Operations Limited 100%
- VPI Generation Limited 100%
- VPI Immingham B Limited 100%
- VPI Immingham Energy Park A Limited 100%
- VPI FlexKraft GmbH 90%
Significant events
- “During April 2026, a fire occurred at one of the Company's power generating sites. The gross cost of the damage to the plant and associated equipment is estimated to be £12.0m, however management expects the majority of this cost to be recovered through insurance and the net impact to be immaterial.”
- “In June 2026, the Directors of the Company proposed and paid interim dividends of £20.0m (£20,000 per share) to its shareholder VPI Midco Limited.”
- “The Directors are aware of the political and economic matters that have arisen in the Middle East and the impact the conflict is having on the regional and global economy. The Directors consider that the overall impact is difficult to fully assess in terms of duration and severity as the situation is still developing.”
- “The Polarisgate project was still in its development stage during 2025, awaiting a planning outcome for the substation and grid connection, however, due to receiving a non financially viable offer for a gas network pipeline connection, the project has since been terminated.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 11 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HALE, Simon Robert | Director | 2022-12-16 | Apr 1983 | British |
| WARREN, Lee Stuart | Director | 2025-10-17 | Sep 1970 | British |
Show 11 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BUJNOWSKA, Magdalena | Secretary | 2013-04-11 | 2013-08-21 |
| ESSEX, Elizabeth | Secretary | 2016-08-30 | 2025-01-30 |
| ESSEX, Elizabeth Jane | Secretary | 2013-08-21 | 2015-07-10 |
| MARSH, Jonathan Robert | Secretary | 2015-07-10 | 2016-08-30 |
| AHMED, Javed | Director | 2013-08-21 | 2022-12-16 |
| BUJNOWSKA, Magdalena Maria | Director | 2013-04-11 | 2013-08-21 |
| HARDY, Russell David | Director | 2013-08-21 | 2024-09-04 |
| LONGSTRETH, Mark | Director | 2017-11-21 | 2024-09-04 |
| MARSH, Jonathan Robert | Director | 2013-04-11 | 2013-08-21 |
| PIKUNIC, Jorge Pablo | Director | 2024-09-04 | 2025-10-17 |
| PINHO, Mark Alexander Victor | Director | 2013-09-10 | 2017-11-21 |
Ownership
Persons with significant control
Filing timeline
Last 20 of 80 total filings
Material constitutional events — rename, articles re-file, resolution
- 2025-10-27 RESOLUTIONS Resolution
- 2024-09-09 RESOLUTIONS Resolution
- 2024-09-09 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-17 | AA | accounts | Accounts with accounts type group | |
| 2026-04-04 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-11-26 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-11-26 | MR04 | mortgage | Mortgage satisfy charge full | |
| 2025-10-27 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-10-27 | RESOLUTIONS | resolution | Resolution | |
| 2025-08-29 | AA | accounts | Accounts with accounts type group | |
| 2025-04-02 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-02-06 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-01-30 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-10-02 | AA | accounts | Accounts with accounts type group | |
| 2024-10-01 | RP04SH01 | capital | Second filing capital allotment shares | |
| 2024-09-30 | SH01 | capital | Capital allotment shares | |
| 2024-09-29 | SH01 | capital | Capital allotment shares | |
| 2024-09-09 | SH02 | capital | Capital alter shares redemption statement of capital | |
| 2024-09-09 | RESOLUTIONS | resolution | Resolution | |
| 2024-09-09 | MA | incorporation | Memorandum articles | |
| 2024-09-04 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-04 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 1
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.