VR FINANCE COMPANY
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Confirmation statement due
2026-09-11 (in 4mo)
Last made up 2025-08-28
Watchouts
None on the register
Cash
£265M
Latest balance sheet
Net assets
£7B
+9.2% vs 2023
Employees
—
Average over period
Profit before tax
£611M
-70.5% vs 2023
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | -£5,000 | -£7,000 | |
| Profit before tax | £2,072,300,000 | £610,630,000 | |
| Net profit | £2,003,092,000 | £603,987,000 | |
| Cash | — | £265,169,000 | |
| Total assets less current liabilities | £6,569,535,000 | £7,173,522,000 | |
| Net assets | £6,569,535,000 | £7,173,522,000 | |
| Equity | £6,569,535,000 | £7,173,522,000 | |
| Average employees | — | — | |
| Wages | — | — | |
| Directors' remuneration | — | — |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
—
Not reported
-
Cash
—
Not reported
-
Net assets
+9.2%
£6,569,535,000 £7,173,522,000
-
Employees
—
Not reported
-
Operating profit
-40%
-£5,000 -£7,000
-
Profit before tax
-70.5%
£2,072,300,000 £610,630,000
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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Return on capital employed | -0.0% | -0.0% | |
| Current ratio | 20.53x | 311.08x | |
| Interest cover | -0.00x | -0.00x |
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
- VR FINANCE COMPANY 2016-08-01 → present
- VEEDER-ROOT FINANCE COMPANY 1997-08-28 → 2016-08-01
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“After making due enquiries and considering the company's access to funds, including further cash pool facilities, if required, to meet its liabilities as they fall due, the director has a reasonable expectation that the company has adequate resources to continue in operation for the going concern assessment period to 31 December 2026. These considerations included the impact of the current global geo-political environment and economic pressures due to tariff wars and inflationary pressures, as well as the ongoing conflicts in Ukraine and the Middle East. These impacts were considered in respect of the company and also the wider UK and Danaher Corporation group. Accordingly, the financial statements have been prepared on the going concern basis.”
Group structure
- VR FINANCE COMPANY · parent
- Launchchange Instrumentation Limited 100%
- Launchchange Limited 100%
- Launchchange UK Holdco Limited 100%
- LIL Holdco UK Limited 100%
- Launchchange Operations Limited 100%
- AB Sciex UK Limited 100%
- Phenomenex Limited 100%
- Launchchange Finance Limited 100%
- Leica Biosystems Newcastle Limited 100%
- Leica Microsystems (UK) Limited 100%
- Pall Manufacturing UK Limited 100%
- Pall Europe Limited 100%
- KVF Finance ApS 42%
- ID Business Solutions Limited 100%
- IDBS (Hong Kong) Limited 100%
- Sarbel UK Holding Company 100%
- Pall Arabia for Trading 70%
- DH Omega Limited 100%
- Puridify Ltd. 100%
- Asymptote Limited 100%
- Stampede Acquisition Limited 100%
- A/B Sciex ΟΥ 100%
- Leica Microsystems Cambridge Limited 100%
- Cytiva Ireland Limited 37%
Significant events
- “On 16 August 2024 the Company received a cash dividend of £415,000,000 from Launchchange Instrumentation Limited (2023: £1,935,245,994 dividend in specie).”
- “On 21 March 2025, VR Finance Company declared and paid a cash dividend of £270,000,000 to Launchchange Holding Company.”
- “On 21 March 2025, VR Finance Company received a cash dividend of £80,000,000 from Launchchange Instrumentation Limited.”
- “The Board conferred and agreed on extending loan terms for a further 5 years for an intercompany loan held with its immediate parent company. In doing so, it considered the company's own solvency concerns.”
- “The 8% unsecured loan note 2024, repayable on 12 August 2024 was extended to 12 August 2029 and the rate adjusted from 26 June 2024 to UK bank base rate plus 1%. This note was issued to VR Finance Company by a fellow group undertaking, Launchchange Holding Company”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
1 active · 13 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BELL, Joe Anthony | Director | 2026-02-14 | Apr 1988 | British |
Show 13 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| DITKOFF, James Howard | Secretary | 1997-08-28 | 2007-06-06 |
| TUNLEY, David William | Secretary | 2007-05-03 | 2012-06-29 |
| WARD, Keith Graham | Secretary | 1998-09-15 | 2007-05-03 |
| COMLAW SECRETARY LIMITED | Corporate Secretary | 1997-08-28 | 1997-08-28 |
| ALLENDER, Patrick William | Director | 1997-08-28 | 2005-05-31 |
| DITKOFF, James Howard | Director | 1997-08-28 | 2008-11-28 |
| MASON, Antony Paul | Director | 2023-09-22 | 2026-02-15 |
| MCFADEN, Frank Talbot, Mr. | Director | 2008-09-18 | 2014-10-24 |
| STONE, Derek Charles | Director | 2012-06-29 | 2014-10-24 |
| TUNLEY, David William | Director | 2008-11-26 | 2012-06-29 |
| WARD, Keith Graham | Director | 1998-09-15 | 2021-03-31 |
| WEST, Simon Gordon Edward | Director | 2020-12-30 | 2023-09-28 |
| COMLAW DIRECTOR LIMITED | Corporate Director | 1997-08-28 | 1997-08-28 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Launchchange Holding Company | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-08-28 | Active |
Filing timeline
Last 20 of 111 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-01-10 RESOLUTIONS Resolution
- 2022-05-10 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-23 | TM01 | officers | Termination director company with name termination date | |
| 2026-02-23 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-30 | AA | accounts | Accounts with accounts type full | |
| 2025-09-05 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-23 | AA | accounts | Accounts with accounts type full | |
| 2024-08-29 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2024-01-10 | RESOLUTIONS | resolution | Resolution | |
| 2023-10-10 | AA | accounts | Accounts with accounts type full | |
| 2023-10-05 | TM01 | officers | Termination director company with name termination date | |
| 2023-10-05 | AP01 | officers | Appoint person director company with name date | |
| 2023-10-03 | AD01 | address | Change registered office address company with date old address new address | |
| 2023-09-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-09-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-08-30 | AA | accounts | Accounts with accounts type full | |
| 2022-05-10 | RESOLUTIONS | resolution | Resolution | |
| 2021-10-07 | AA | accounts | Accounts with accounts type full | |
| 2021-09-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2021-04-09 | TM01 | officers | Termination director company with name termination date | |
| 2021-02-05 | AP01 | officers | Appoint person director company with name date | |
| 2020-09-22 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- 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.