IBC VEHICLES LIMITED
Operating as a wholly owned subsidiary of Stellantis, the company ran the Vauxhall Luton assembly plant to manufacture light commercial vehicles for brands including Vauxhall, Peugeot, and Citroën until production ceased in 2025.
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Cash
£0
-100% vs 2023
Net assets
£212M
+10% vs 2023
Employees
1,150
-2.5% vs 2023
Profit before tax
£32M
+46.6% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Accounts not prepared on a going-concern basis
The financial statements for 2024 have been prepared on a basis other than that of a going concern. Following the decision made by management in Q1 2025 to transfer production of the e-KO and e-K9 models to Ellesmere Port, production ceased at end of March 2025. The financial statements for 2024 have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company's assets to net realisable value.
-
Going-concern uncertainty disclosed
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £1,199,509,000 | £1,208,781,000 | +0.8% | |
| Operating profit | £26,980,000 | £27,225,000 | +0.9% | |
| Profit before tax | £21,647,000 | £31,743,000 | +46.6% | |
| Net profit | £16,997,000 | £18,966,000 | +11.6% | |
| Cash | £6,521,000 | £0 | -100% | |
| Total assets less current liabilities | £194,013,000 | £212,990,000 | +9.8% | |
| Net assets | £193,177,000 | £212,440,000 | +10% | |
| Equity | £193,177,000 | £212,440,000 | +10% | |
| Average employees | 1,179 | 1,150 | -2.5% | |
| Wages | £53,357,000 | £53,356,000 | 0% | |
| Directors' remuneration | £0 | £0 | — |
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 |
|---|---|---|---|
| Operating margin | 2.2% | 2.3% | |
| Net margin | 1.4% | 1.6% | |
| Return on capital employed | 13.9% | 12.8% | |
| Gearing (liabilities / total assets) | 51.4% | 48.5% | |
| Current ratio | 1.36x | 1.46x | |
| Interest cover | 4.16x | — |
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
- IBC VEHICLES LIMITED 1987-09-14 → present
- TRUSHELFCO (NO.1085) LIMITED 1987-01-20 → 1987-09-14
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Constantin
- Audit opinion
- Unqualified (clean)
- Going concern
- Not a going concern (break-up basis)
“The financial statements for 2024 have been prepared on a basis other than that of a going concern. Following the decision made by management in Q1 2025 to transfer production of the e-KO and e-K9 models to Ellesmere Port, production ceased at end of March 2025. The financial statements for 2024 have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company's assets to net realisable value.”
Significant events
- “In Q1 2025, the Group confirmed the decision to combine the production of right-hand Drive (RHD) e-KO models and e-K9 models at the Ellesmere Port site from Q4 2026 onwards. To support the proposed transition, the production of all KO at Luton would, subject to consultation, cease at end of March 2025.”
- “A redundancy plan was announced in February 2025 with the departure of majority of employees anticipated. The impact of the redundancy plan will be included in the FY2025 accounts.”
- “In addition, the land and buildings were sold post year end to a third party on a sale and leaseback basis.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 74 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| PAGE, Martin Edward | Secretary | 2019-07-01 | — | — |
| DRUCE, Eurig Garmon | Director | 2024-10-23 | Nov 1978 | British |
| HAMMONDS, Timothy John | Director | 2025-09-01 | Oct 1973 | British |
Show 74 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BENJAMIN, Keith John | Secretary | 2004-06-18 | 2004-11-24 |
| GALVIN, Lesley | Secretary | 2001-08-01 | 2004-06-18 |
| MCCRUM, David | Secretary | — | 2001-07-31 |
| NAGI, Rabiya Sultana | Secretary | 2004-11-24 | 2019-06-30 |
| ALDRED, Duncan Neil | Director | 2010-01-18 | 2014-09-25 |
| BAILEY, John | Director | 1997-05-22 | 1999-02-22 |
| BARBER, John Christopher | Director | 1996-09-19 | 1997-05-22 |
| BARRETT, Nicholas Paul | Director | 2008-08-01 | 2021-01-29 |
| BENJAMIN, Keith John | Director | 2008-01-18 | 2009-02-27 |
| BORLAND, David | Director | 2013-07-08 | 2018-02-28 |
| BORST, Walter | Director | 1995-06-07 | 1995-09-06 |
| BRANSTON, Giles Winthorpe | Director | 2009-02-27 | 2010-01-18 |
| BROWNING, Jonathan | Director | 2008-01-18 | 2008-06-01 |
| BURKUTEAN, Harry Gunther | Director | 2001-02-01 | 2002-06-01 |
| CLARK, Darwin E | Director | 1993-05-14 | 1996-09-19 |
| CONNELL, David James | Director | 2017-08-03 | 2021-10-18 |
| DAVINO, Maria Grazia | Director | 2023-08-31 | 2024-10-23 |
| FULCHER, John Robert | Director | 2011-04-01 | 2017-11-30 |
| FULCHER, John Robert | Director | 2005-11-01 | 2008-08-01 |
| GILSON, Andrew Robert | Director | 2011-04-26 | 2014-09-25 |
| GUBBEY, Christopher Patrick Marston | Director | 1999-02-22 | 2001-01-31 |
| HARTING, Ralph | Director | 1999-02-22 | 2002-06-01 |
| HARVEY, Rory Vincent | Director | 2015-09-23 | 2018-01-10 |
| HENDERSON, Jeffrey | Director | 1996-09-19 | 1998-09-01 |
| HENSON, Gary Lloyd | Director | — | 1993-05-14 |
| HIGASHISONO, Motomasa | Director | — | 1992-04-21 |
| HIGHNAM, James Charles | Director | 2015-12-01 | 2020-04-30 |
| HOPE, Peter Thomas | Director | 2014-09-25 | 2021-12-02 |
| JAMES, Mark Neville | Director | 2002-07-02 | 2005-11-01 |
| JOHNSON, Mark Anthony | Director | 2008-01-18 | 2008-11-01 |
| JONSSON, Jan Ake | Director | 2002-07-02 | 2003-04-22 |
| JUNG, Werner Heinrich | Director | 1999-02-22 | 2001-01-31 |
| KIBE, Alfred Kamanja | Director | 2015-09-29 | 2015-12-18 |
| KURAMOCHI, Katsumi | Director | 1997-05-22 | 1998-09-28 |
| MACDONALD, Colin Moore | Director | 2020-05-15 | 2022-02-25 |
| MACKIE, Scott Richard | Director | 1994-09-07 | 1996-09-19 |
| MAEDA, Toshio | Director | — | 1992-04-21 |
| MASON, Thomas Ralph | Director | — | 1993-05-14 |
| MILLWARD, Philip | Director | 2008-11-01 | 2015-06-30 |
| MOLYNEUX, Richard John | Director | 2008-01-18 | 2011-04-30 |
| MORALES FACERÍAS, Alberto | Director | 2020-05-15 | 2025-09-01 |
| MURAKAMI, Kazuhide | Director | 1994-09-07 | 1996-09-19 |
| MURAKAMI, Kazuhide | Director | — | 1993-01-28 |
| MURTAUGH, Philip Francis | Director | 1994-09-07 | 1996-01-22 |
| NAGI, Rabiya Sultana | Director | 2008-06-01 | 2011-04-26 |
| NICOLAIDIS, Gregory Constantine | Director | — | 1994-09-07 |
| NOBLE, Mark Christopher | Director | 2018-08-21 | 2020-04-30 |
| NORMAN, Stephen | Director | 2018-02-01 | 2021-01-31 |
| OBERHAUS, Herbert A | Director | — | 1991-11-14 |
| OH'OKA, Shinichi | Director | 1996-09-19 | 1997-05-22 |
| OKAJIMA, Toshio | Director | 1993-01-28 | 1994-09-07 |
| PARFITT, Christopher William | Director | 2008-01-18 | 2013-06-30 |
| REILLY, David Nicholas | Director | 1996-09-19 | 2002-08-28 |
| SALLEE, Daniel Phillip | Director | 1993-05-14 | 1995-09-06 |
| SANFORD, Donna | Director | 2005-05-09 | 2008-08-01 |
| SANNOMIYA, Toshio | Director | 1995-06-07 | 1995-09-06 |
| SASAKI, Hisaomi | Director | — | 1994-09-07 |
| SCHMIDT, Paul Werner | Director | 1991-11-14 | 1994-10-23 |
| SHINODA, Motoyuki | Director | 1992-04-21 | 1995-06-08 |
| SMITH, John Frederick | Director | — | 1994-09-07 |
| STAES, Paul | Director | 2008-08-01 | 2010-04-01 |
| STEIN, Mark Justin | Director | 2010-04-01 | 2012-05-01 |
| SUGIHARA, Itsuo | Director | 1992-04-21 | 1995-09-06 |
| THEXTON, Christopher | Director | 2015-06-15 | 2017-07-31 |
| THOM, Peter | Director | 1999-01-18 | 2004-11-24 |
| TOZER, Timothy David | Director | 2014-04-22 | 2015-09-22 |
| TREMBLAY, Diana | Director | 2001-02-01 | 2002-04-02 |
| TRUDELL, Cynthia M | Director | 1996-03-01 | 1999-01-18 |
| VAN DER KOOI, Frederik Cornelis | Director | 1998-09-01 | 1999-02-22 |
| WAGONER JR, George Richard | Director | — | 1991-11-14 |
| WALE, Kevin Ernest | Director | 2001-09-03 | 2005-05-09 |
| WILLCOX, Paul Antony | Director | 2021-02-24 | 2023-08-31 |
| WOLF, Manfred Ludwig | Director | 1991-11-14 | 1996-09-19 |
| WRIGHT, Michael | Director | 2012-05-01 | 2019-11-08 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Stellantis N.V. | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2021-01-16 | Active |
| Peugeot S.A. | Corporate entity | Shares 75–100%, Voting 75–100% | 2016-04-06 | Ceased 2021-01-16 |
Filing timeline
Last 20 of 286 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-02 | AD01 | address | Change registered office address company with date old address new address | |
| 2025-11-19 | CH01 | officers | Change person director company with change date | |
| 2025-10-03 | AA | accounts | Accounts with accounts type full | |
| 2025-09-02 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-08-11 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-05-06 | CH01 | officers | Change person director company with change date | |
| 2024-12-18 | CH01 | officers | Change person director company with change date | |
| 2024-10-24 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-24 | AP01 | officers | Appoint person director company with name date | |
| 2024-10-08 | AA | accounts | Accounts with accounts type full | |
| 2024-08-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-12 | AA | accounts | Accounts with accounts type full | |
| 2023-09-01 | AP01 | officers | Appoint person director company with name date | |
| 2023-09-01 | TM01 | officers | Termination director company with name termination date | |
| 2023-08-07 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-11-18 | AD02 | address | Change sail address company with old address new address | |
| 2022-10-01 | AA | accounts | Accounts with accounts type full | |
| 2022-08-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-02-28 | TM01 | officers | Termination director company with name termination date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- 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.