NIPPON ACTIVE VALUE FUND PLC
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Cash
£9.9m
-50% vs 2024
Net assets
£431m
+17.8% vs 2024
Employees
0
Average over period
Profit before tax
£65m
+31.9% vs 2024
Net assets
2-year trend · vs Financials median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | — | — | — | |
| Operating profit | £49,443,000 | £65,257,000 | +32% | |
| Profit before tax | £49,443,000 | £65,206,000 | +31.9% | |
| Net profit | £48,530,000 | £64,068,000 | +32% | |
| Cash | £19,889,000 | £9,947,000 | -50% | |
| Total assets less current liabilities | £365,442,000 | £430,619,000 | +17.8% | |
| Net assets | £365,442,000 | £430,619,000 | +17.8% | |
| Equity | £365,442,000 | £430,619,000 | +17.8% | |
| Average employees | 0 | 0 | — | |
| Wages | — | — | — | |
| Directors' remuneration | £226,525 | £223,351 | -1.4% | |
| Highest paid director | £43,800 | £47,000 | +7.3% |
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 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Return on capital employed | 13.5% | 15.2% | |
| Gearing (liabilities / total assets) | 0.4% | 0.2% | |
| Current ratio | 16.15x | 16.92x |
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
- NIPPON ACTIVE VALUE FUND PLC 2019-11-15 → present
- NAVF PLC 2019-10-22 → 2019-11-15
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Standalone (parent only)
- Auditor
- BDO LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors have adopted the going concern basis in preparing the financial statements. The Directors do not foresee any immediate material risk to the Company’s investment portfolio, however, a prolonged and deep market decline could lead to falling values in the underlying business...”
Significant events
- “On 17 December 2025, the Company announced participation in a successful tender offer for Hogy Medical, led by Carlyle...”
- “On 5 February 2026, a General Meeting was held at which shareholders approved the cancellation of the Company’s share premium account, which stood at £239,056,149 as at 16 January 2026.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
6 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| NSM FUNDS (UK) LIMITED | Corporate Secretary | 2024-12-16 | — | — |
| GHOSH, Chetan | Director | 2019-10-22 | Jun 1974 | British |
| HILL, Rachel Nancy | Director | 2019-10-22 | Mar 1963 | British |
| MORGAN, Rosemary Jane | Director | 2019-11-14 | Sep 1954 | British |
| OGAWA, Alicia | Director | 2019-11-14 | Feb 1954 | American |
| WEISSMAN, Ayako Hirota | Director | 2019-11-14 | May 1957 | American |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| APEX LISTED COMPANIES SERVICES (UK) LIMITED | Corporate Secretary | 2019-10-22 | 2024-12-16 |
| BOYLE, Claire Marguerite | Director | 2023-10-10 | 2026-06-04 |
| COMBS, Frank Marion Gifford | Director | 2019-10-22 | 2020-01-06 |
| LAMB, Noel | Director | 2023-10-10 | 2025-06-05 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| James Benno Rosenwald | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-10-22 | Ceased 2020-10-21 |
| Laura Parker Rosenwald | Individual | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-10-22 | Ceased 2020-10-21 |
Filing timeline
Last 20 of 84 total filings
Material constitutional events — rename, articles re-file, resolution
- 2026-06-24 RESOLUTIONS Resolution
- 2026-02-17 RESOLUTIONS Resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-09-22 | AA | accounts | Accounts with accounts type interim | |
| 2026-08-13 | SH01 | capital | Capital allotment shares | |
| 2026-07-24 | SH01 | capital | Capital allotment shares | |
| 2026-06-24 | RESOLUTIONS | resolution | Resolution | |
| 2026-06-08 | TM01 | officers | Termination director company with name termination date | |
| 2026-05-29 | SH01 | capital | Capital allotment shares | |
| 2026-05-29 | SH01 | capital | Capital allotment shares | |
| 2026-05-01 | SH01 | capital | Capital allotment shares | |
| 2026-05-01 | SH01 | capital | Capital allotment shares | |
| 2026-04-30 | SH01 | capital | Capital allotment shares | |
| 2026-04-23 | AA | accounts | Accounts with accounts type full | |
| 2026-03-12 | SH19 | capital | Capital statement capital company with date currency figure | |
| 2026-03-12 | CERT21 | capital | Certificate capital cancellation share premium account | |
| 2026-03-12 | OC138 | capital | Legacy | |
| 2026-03-12 | SH01 | capital | Capital allotment shares | |
| 2026-03-12 | SH01 | capital | Capital allotment shares | |
| 2026-03-12 | SH01 | capital | Capital allotment shares | |
| 2026-03-12 | SH01 | capital | Capital allotment shares | |
| 2026-03-11 | SH01 | capital | Capital allotment shares | |
| 2026-02-17 | RESOLUTIONS | resolution | Resolution |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 20
- Capital events
- 15
- 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.