OVO ENERGY LTD
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-11 (in 6mo)
Last made up 2025-10-28
Watchouts
Cash
£0
-100% vs 2023
Net assets
-£726M
-17.7% vs 2023
Employees
4,138
-0.7% vs 2023
Profit before tax
-£140M
-113.2% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
This creates a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern and therefore its ability to continue to support the Company. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
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 | £8,166,000,000 | £5,457,000,000 | |
| Operating profit | £1,119,000,000 | -£74,000,000 | |
| Profit before tax | £1,061,000,000 | -£140,000,000 | |
| Net profit | £810,000,000 | -£110,000,000 | |
| Cash | £379,000,000 | £0 | |
| Total assets less current liabilities | -£470,000,000 | -£624,000,000 | |
| Net assets | -£617,000,000 | -£726,000,000 | |
| Equity | -£617,000,000 | -£726,000,000 | |
| Average employees | 4,169 | 4,138 | |
| Wages | £198,000,000 | £197,000,000 | |
| Directors' remuneration | £1,200,000 | £2,235,000 |
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
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-33.2%
£8,166,000,000 £5,457,000,000
-
Cash
-100%
£379,000,000 £0
-
Net assets
-17.7%
-£617,000,000 -£726,000,000
-
Employees
-0.7%
4,169 4,138
-
Operating profit
-106.6%
£1,119,000,000 -£74,000,000
-
Profit before tax
-113.2%
£1,061,000,000 -£140,000,000
-
Wages
-0.5%
£198,000,000 £197,000,000
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 |
|---|---|---|---|
| Operating margin | 13.7% | -1.4% | |
| Net margin | 9.9% | -2.0% | |
| Return on capital employed | -238.1% | 11.9% | |
| Current ratio | 0.58x | 0.32x | |
| Interest cover | 12.86x | -0.73x |
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 101
- Reporting scope
- Standalone (parent only)
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“This creates a material uncertainty which may cast significant doubt on the Group's ability to continue as a going concern and therefore its ability to continue to support the Company. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.”
Group structure
- OVO ENERGY LTD · parent
- OVO Electricity Ltd 100%
- OVO Gas Ltd 100%
- Spark Gas Shipping Ltd 100%
- Bonnet Ltd 100%
- OVO (S) Energy Solutions Limited 100%
- OVO (S) Electricity Limited 100%
- OVO (S) Gas Limited 100%
Significant events
- “In 2024, we launched Beyond, the UK's first Energy Savings Account. We launched Charge Anywhere enabling EV drivers to use over 34,000 UK public chargers at discounted rates. We carried on supporting customers with installations of EV chargers, solar panels, and heat pumps.”
- “We appointed Justin King CBE, to the position of non-executive Chair, and David Buttress, to the position of CEO. James Davies also joined the business as Chief Financial Officer.”
- “To support our customers most in need, 2024 saw our award-winning OVO Extra Support package launch for a third year in a row. The £50 million package included payment support, emergency top-up credit, and temporary payment reductions. We also gave out free energy-saving products, including electric blankets.”
- “Climate change presents a range of physical and transition risks as well as opportunities for us to manage and respond to. In 2024, we worked on defining the role of an energy retailer in climate adaptation for our customers. We released our first adaptation assessment and joined the Green Alliance Climate Adaptation Task Force.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 18 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GADHIA, Jayne-Anne, Dame | Director | 2025-11-21 | Oct 1961 | British |
| HOUGHTON, Christopher Paul | Director | 2025-11-21 | Dec 1978 | British |
Show 18 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BLACK, Kristopher John | Secretary | 2009-07-21 | 2009-12-14 |
| CASEY, Vincent | Secretary | 2016-02-04 | 2024-12-13 |
| DAVIES, James Russell | Secretary | 2024-12-13 | 2026-01-16 |
| BHATIA, Raman | Director | 2021-01-18 | 2024-05-31 |
| BLACK, Kristopher John | Director | 2009-07-21 | 2009-12-14 |
| BLAKE, Ben | Director | 2021-01-18 | 2021-11-30 |
| BUTTRESS, David | Director | 2024-05-31 | 2025-12-01 |
| CALCOTT, Sarah | Director | 2016-02-04 | 2017-03-20 |
| CASEY, Vincent Francis | Director | 2018-06-08 | 2024-12-13 |
| CASTELL, William Thomas | Director | 2021-01-18 | 2022-01-10 |
| DAVIES, James Russell | Director | 2024-12-13 | 2026-01-16 |
| FITZPATRICK, Stephen | Director | 2009-04-29 | 2021-01-18 |
| HOUGHTON, Christopher Paul | Director | 2015-01-28 | 2018-11-30 |
| LETTS, Adrian James | Director | 2019-01-07 | 2022-03-01 |
| MURPHY, Stephen Thomas | Director | 2015-01-28 | 2021-01-18 |
| OWEN, Jonathan Wyn | Director | 2015-12-09 | 2018-01-25 |
| WASS, Niall Fraser | Director | 2015-12-09 | 2021-01-12 |
| OVO GROUP LTD | Corporate Director | 2009-04-29 | 2009-07-21 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ovo Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-10-31 | Ceased 2019-10-31 |
| Ovo Finance Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-10-31 | Active |
| Ovo Group Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2019-10-31 |
Filing timeline
Last 20 of 125 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-30 CC04 Statement of companys objects
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-02-16 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-01-21 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-21 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-12-15 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-21 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-11 | AD02 | address | Change sail address company with old address new address | |
| 2025-11-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-30 | AA | accounts | Accounts with accounts type full | |
| 2025-07-03 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-01-27 | SH01 | capital | Capital allotment shares | |
| 2025-01-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-30 | CC04 | change-of-constitution | Statement of companys objects | |
| 2024-12-18 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-12-17 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-17 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-12-17 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-09 | AA | accounts | Accounts with accounts type full | |
| 2024-06-03 | AP01 | officers | Appoint person director company with name date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 10
- Capital events
- 1
- Officers appointed
- 2
- Officers resigned
- 3
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.