MCLAREN ELECTRIC RACING LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-10-08 (in 5mo)
Last made up 2025-09-24
Watchouts
Cash
£6M
-3% vs 2023
Net assets
£18M
+92.4% vs 2023
Employees
48
+33.3% vs 2023
Profit before tax
£12M
+115.3% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
In April 2025, as part of a strategic review to refocus on McLaren's core programmes in Formula 1, IndyCar and its upcoming World Endurance Championship entry in 2027, the Company announced its intention to exit the ABB FIA Formula E World Championship at the end of Season 11. Despite efforts to identify a purchaser, a buyer for the business was not secured. In August 2025 the Company commenced consultation with staff on the proposed closure of the team, and following the conclusion of this process in September 2025, the Directors expect to commence closure within the coming year.
Name history
Renamed 1 time since incorporation
- MCLAREN ELECTRIC RACING LIMITED 2022-09-22 → present
- MERCEDES-BENZ FORMULA E LIMITED 2017-09-25 → 2022-09-22
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £38,771,000 | £40,017,000 | |
| Operating profit | £5,468,000 | £11,347,000 | |
| Profit before tax | £5,468,000 | £11,770,000 | |
| Net profit | £3,662,000 | £8,883,000 | |
| Cash | £5,681,000 | £5,508,000 | |
| Total assets less current liabilities | £9,976,000 | £18,573,000 | |
| Net assets | £9,616,000 | £18,499,000 | |
| Equity | £9,616,000 | £18,499,000 | |
| Average employees | 36 | 48 | |
| Wages | £3,387,000 | £3,947,000 |
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | 14.1% | 28.4% | |
| Net margin | 9.4% | 22.2% | |
| Return on capital employed | 54.8% | 61.1% | |
| Current ratio | 1.43x | 2.19x | |
| Interest cover | — | 104.10x |
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.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“In April 2025, as part of a strategic review to refocus on McLaren's core programmes in Formula 1, IndyCar and its upcoming World Endurance Championship entry in 2027, the Company announced its intention to exit the ABB FIA Formula E World Championship at the end of Season 11. Despite efforts to identify a purchaser, a buyer for the business was not secured. In August 2025 the Company commenced consultation with staff on the proposed closure of the team, and following the conclusion of this process in September 2025, the Directors expect to commence closure within the coming year.”
Significant events
- “In January 2024, the team submitted a Financial Report to the FIA detailing the expenditure of the team in the reporting period October 2022 to September 2023. Following a subsequent audit conducted by the FIA, the Formula E team were confirmed to have been compliant with the Financial Regulations. The same Financial Report for the second reporting period was submitted to the FIA in November 2024.”
- “During 2024, Extreme E Season 4 comprised four rounds across two race locations before the series was curtailed early by the organisers, meaning that races in Sardinia and Phoenix did not proceed as planned. At the point of conclusion, the team was placed 5th in the Championship standings with 46 points. Notably, drivers Mattias Ekström and Cristina Gutiérrez secured a podium finish at the Desert X Prix in Saudi Arabia in February.”
- “Following a strategic review to refocus on McLaren's core programmes in Formula 1, IndyCar and its upcoming World Endurance Championship entry in 2027, a decision has been taken to cease participation in the ABB FIA Formula E Championship. As such, the Directors, anticipate commencing the closure of the team within the coming year.”
- “In May 2025, a fire occurred at a third-party warehouse used to store certain assets. The extent of any damage and the potential financial impact are currently under assessment and cannot be reliably estimated at this stage. As the incident occurred after the reporting date, it is classified as a non-adjusting event.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 9 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| MURNANE, Timothy Nicholas | Secretary | 2022-09-21 | — | — |
| BOWDEN, Laura | Director | 2022-09-21 | Jun 1981 | British |
| BROWN, Zakary Challen | Director | 2022-09-21 | Nov 1971 | American |
Show 9 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| GOODRICK, Laura | Secretary | 2021-01-01 | 2022-09-21 |
| RAO-SADOUN, Shaila Ann | Secretary | 2019-03-01 | 2020-12-31 |
| RUMSEY, Oliver James | Secretary | 2017-09-25 | 2019-03-01 |
| JAMES, Ian Hadley | Director | 2022-09-21 | 2025-09-30 |
| KALLENIUS, Sten Ola | Director | 2017-09-25 | 2019-05-22 |
| SCHÄFER, Markus | Director | 2019-03-01 | 2022-09-21 |
| SEEGER, Britta | Director | 2017-09-25 | 2022-09-21 |
| THIEMER, Jens | Director | 2017-09-25 | 2018-06-25 |
| WOLFF, Toto | Director | 2017-09-25 | 2022-03-07 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mclaren Racing Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-09-21 | Active |
| Mercedes-Benz Holdings Uk Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2017-09-25 | Ceased 2022-09-21 |
Filing timeline
Last 20 of 38 total filings
Material constitutional events — rename, articles re-file, resolution
- 2022-09-22 CERTNM Certificate change of name company PDF
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-14 | AA | accounts | Accounts with accounts type full | |
| 2025-10-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-09-30 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-10 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-17 | AA | accounts | Accounts with accounts type full | |
| 2023-10-09 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-07 | AA | accounts | Accounts with accounts type full | |
| 2023-01-03 | AA | accounts | Accounts with accounts type full | |
| 2022-10-18 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-09-23 | PSC02 | persons-with-significant-control | Notification of a person with significant control | |
| 2022-09-23 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2022-09-22 | AP01 | officers | Appoint person director company with name date | |
| 2022-09-22 | AP01 | officers | Appoint person director company with name date | |
| 2022-09-22 | AP01 | officers | Appoint person director company with name date | |
| 2022-09-22 | CERTNM | change-of-name | Certificate change of name company | |
| 2022-09-22 | AP03 | officers | Appoint person secretary company with name date | |
| 2022-09-22 | TM01 | officers | Termination director company with name termination date | |
| 2022-09-22 | TM01 | officers | Termination director company with name termination date | |
| 2022-09-22 | TM02 | officers | Termination secretary company with name termination date | |
| 2022-09-22 | AD01 | address | Change registered office address company with date old address new address |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 3
- Capital events
- 0
- Officers appointed
- 0
- 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.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
+3.2%
£38,771,000 £40,017,000
-
Cash
-3%
£5,681,000 £5,508,000
-
Net assets
+92.4%
£9,616,000 £18,499,000
-
Employees
+33.3%
36 48
-
Operating profit
+107.5%
£5,468,000 £11,347,000
-
Profit before tax
+115.3%
£5,468,000 £11,770,000
-
Wages
+16.5%
£3,387,000 £3,947,000
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