VOLKSWAGEN FINANCIAL SERVICES (UK) LIMITED

1. VOLKSWAGEN FINANCIAL SERVICES (UK) LIMITED 1993-11-11 → present
2. KELLENS LIMITED 1993-07-12 → 1993-11-11

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

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.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In determining the appropriateness of the Going Concern basis for the preparation of the annual reports and accounts the directors have assessed a period from the date of signing the accounts until 30 June 2026. The assessment considered a number of key factors, namely, accessibility of funding and levels of liquidity, capital reserves, forecasts of business performance and asset risk. Management considers accessibility to liquidity the most significant risk to the business. When considering whether the Company has access to sufficient levels of funding the directors considered a number of scenarios, as is, cautious, downside and an extreme stress scenario. In all instances the Company has sufficient liquidity headroom up to and including 30 June 2026. After making these assessments, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.”

Group structure

1. VOLKSWAGEN FINANCIAL SERVICES (UK) LIMITED · parent
   1. Volkswagen Insurance Service (Great Britain) Limited 100% · UK · to arrange motor insurance for Audi, Volkswagen, SEAT and Skoda vehicle owners and motor trade insurance on behalf of retailers in the United Kingdom. After 31st October 2022 the company ceased involvement in these activities.

Significant events

• “In January 2024 the Financial Conduct Authority (FCA) announced that it intended to undertake a review of the historical use of discretionary commission arrangements using its powers under Section 166 of the Financial Services and Markets Act 2000 across several firms within the motor finance sector. The work started in 2024 and since then VWFS has co-operated fully with the review, the outcome of which (including any potential remediation or financial impact) is unknown and is not expected until after the Supreme Court hearing referred to below.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

4

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  +9%

  £2,882,745,000 → £3,142,098,000

• Cash

  +20,947.2%

  £127,000 → £26,730,000

• Net assets

  +3.7%

  £2,963,873,000 → £3,074,741,000

• Employees

  +1.1%

  993 → 1,004

• Operating profit

  -42.4%

  £310,102,000 → £178,687,000

• Profit before tax

  -63.6%

  £374,120,000 → £136,079,000

• Wages

  -0.1%

  £56,372,000 → £56,290,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. Periods don't have to be exactly 12 months apart — a long or short period (typical around incorporation or year-end changes) will distort the comparison. Lines a company doesn't report are omitted. About these numbers