LONDON EV COMPANY LIMITED

1. LONDON EV COMPANY LIMITED 2017-09-01 → present
2. THE LONDON TAXI CORPORATION LIMITED 2013-02-13 → 2017-09-01
3. GEELY OPCO UK LIMITED 2013-01-11 → 2013-02-13

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 102

Reporting scope

Standalone (parent only)

Auditor

Forvis Mazars LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The Directors have made appropriate enquiries from the Group to ensure the Company has the necessary resources to continue its operations going forward... The Directors expect the Company will have the adequate resources to continue in operational existence for the foreseeable future, therefore adopting the going concern basis in preparing the annual financial statements.”

Group structure

1. LONDON EV COMPANY LIMITED · parent
   1. LEVC Finance Limited 100% · British Virgin Islands · Bond issuer

Significant events

• “On 29 May 2024, the Company raised £50m by issuing 11,820,331 shares of nominal value £1.00 each to Geely UK Limited ("GUK") with an aggregate of £38.18m added to the share premium account of the Company.”
• “A voluntary redundancy programme was implemented in December 2024 to support a planned reduction in line throughput from early 2025.”
• “The Company made the strategic decision to suspend material supply schedules issued in October 2024 (covering production for weeks 1 to 5 of 2025).”
• “The TX5 impairment charge totals £70.55m which was split between Intangible assets of £59.4m (Note 11) and Tangible assets of £11.15m (Note 12).”
• “The early release of a long-term royalty prepayment of £17.51m in 2024.”
• “On the 7 March 2024, the Company received $400,000,000 from its immediate parent, Geely UK Limited, in full settlement of the intercompany capital contribution receivable outstanding at 31 December 2023.”
• “In April 2025, the government extended the Plug-In Taxi Grant for one additional year at a 33% reduction, offering £4,000 per vehicle.”
• “As part of the Company's working capital strategy, in April 2025, an inter-company loan of £45.00m was issued to the Company from its parent company Geely International (Hong Kong) Ltd (GIHK) for an initial term of 1 year.”
• “On the 24th June 2025, a loan was issued to the Company from its parent company GIHK, totaling £50.00m for an initial term of 1 year. A decision was made not to renew the £50.00m bank loan with Santander UK Plc which was repaid in full on 25 June 2025 and replaced with this inter-group loan at a lower interest rate.”
• “On 17th July, the Company repaid its HSBC loan of £65.00m early and replaced it with a 627.25m CNY loan with a term of one year.”
• “The Company's loan with Societe Generale Bank was successfully renewed on 31 August 2025 with unchanged terms or value, maintaining a facility of up to £38.00m for a further 12 months.”
• “In July 2025, LEVC opened a new branch in Paris, France, to support the existing fleet of almost 300 TX5 vehicles in Paris.”
• “Also during July of 2025, the Company announced a formal redundancy program, schedules for implementation in the second half of the year.”
• “On 26th August, the Company's loan facility with BNP was repaid in full and replaced by an intragroup loan from GIHK for the same value but with an improved interest rate with a term of one year.”
• “In August of 2025, Geely UK Limited, the Company's immediate parent, bought the shares in the Company owned by Natixis SA for a total of £80.0m.”

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

Filings

6

last 12 months

Capital events

1

last 24 months

Officers appointed

0

last 12 months

Officers resigned

1

last 12 months

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

• Turnover

  -31.8%

  £129,190,000 → £88,145,000

• Cash

  +42.8%

  £5,106,000 → £7,293,000

• Net assets

  -3,385.7%

  £3,824,000 → -£125,644,000

• Employees

  -14.3%

  461 → 395

• Operating profit

  -107.1%

  -£75,585,000 → -£156,559,000

• Profit before tax

  -72.4%

  -£104,062,000 → -£179,430,000

• Wages

  -11.5%

  £20,469,000 → £18,121,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers