IBEX RETAIL INVESTMENTS (EUROPE) LIMITED
Get an alert when IBEX RETAIL INVESTMENTS (EUROPE) LIMITED files next
Leroy will email you the moment a new filing lands at Companies House — one short note per filing, nothing else.
Next accounts due
2026-06-30 (in 1mo)
Last filed for 2024-09-30
Confirmation statement due
2027-01-07 (in 8mo)
Last made up 2025-12-24
Watchouts
Cash
£969K
EUR 1,113,898
-9.5% vs 2023
Net assets
-£217M
EUR -250,070,294
+20.6% vs 2023
Employees
3
-40% vs 2023
Profit before tax
£56M
EUR 64,728,970
+108.5% vs 2023
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
In preparing the Financial Statements, the going concern basis has not been adopted. The significant matter considered by the board of directors for the Company's going concern assessment was the WHOA Restructuring Plan with effective date being 30 June 2023. As at 30 September 2024, the Company's liabilities exceed its assets. However, amounts payable to group undertakings are structured as limited recourse loans, restricting the Company's liability to the fair value of its available assets.
Net assets
2-year trend · vs Consumer Discretionary median
Accounts
2-year trend · latest reflected 2024-09-30
| Metric | Trend | 2023-09-30 | 2024-09-30 |
|---|---|---|---|
| Turnover | — | — | |
| Operating profit | -£584,634,157 | £139,783,477 | |
| Profit before tax | -£660,609,763 | £56,290,956 | |
| Net profit | -£660,609,763 | £56,290,956 | |
| Cash | £1,070,817 | £968,691 | |
| Total assets less current liabilities | £1,596,188,368 | £1,735,971,845 | |
| Net assets | -£273,762,296 | -£217,471,340 | |
| Equity | -£273,762,296 | -£217,471,340 | |
| Average employees | 5 | 3 | |
| Wages | — | — | |
| Directors' remuneration | — | — |
Figures converted to GBP from EUR at 0.870 per EUR (Frankfurter spot rate) — hover any figure for the original. — indicates the figure wasn't present under that line item in that period. About these numbers
Year-on-year
FY2023 → FY2024 · period ending 2024-09-30 vs 2023-09-30
-
Turnover
—
Not reported
-
Cash
-9.5%
£1,070,817 £968,691
-
Net assets
+20.6%
-£273,762,296 -£217,471,340
-
Employees
-40%
5 3
-
Operating profit
+123.9%
-£584,634,157 £139,783,477
-
Profit before tax
+108.5%
-£660,609,763 £56,290,956
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 | 2023-09-30 | 2024-09-30 |
|---|---|---|---|
| Return on capital employed | -36.6% | 8.1% | |
| Gearing (liabilities / total assets) | 117.2% | 112.5% | |
| Current ratio | 32.79x | 27.85x | |
| Interest cover | -7.70x | 1.46x |
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
- IBEX RETAIL INVESTMENTS (EUROPE) LIMITED 2021-09-17 → present
- PEPCO HOLDCO LIMITED 2020-09-23 → 2021-09-17
Audit & accounting basis
- Accounting basis
- FRS 101
- Reporting scope
- Standalone (parent only)
- Auditor
- Forvis Mazars LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“In preparing the Financial Statements, the going concern basis has not been adopted. The significant matter considered by the board of directors for the Company's going concern assessment was the WHOA Restructuring Plan with effective date being 30 June 2023. As at 30 September 2024, the Company's liabilities exceed its assets. However, amounts payable to group undertakings are structured as limited recourse loans, restricting the Company's liability to the fair value of its available assets.”
Group structure
- IBEX RETAIL INVESTMENTS (EUROPE) LIMITED · parent
- Pepco Group N.V. 72.15%
- Pepco Group Limited 72.15%
- Dealz Poland Sp. z o.o. 72.15%
- Pepkor Europe Limited 72.15%
- Online Poundshop Limited 72.15%
- Pepkor UK Retail Limited 72.15%
- Poundland UK and Europe Limited 0%
- Vaucluse Diffusion SASU 72.15%
- Fully Sun China Ltd 72.15%
- Pepkor Europe GmbH 72.15%
- Pepco Poland Sp. z o.o. 72.15%
- Konopacka Holdings B.V. 72.15%
- Rawska Holdings B.V. 72.15%
- Cardina Investment Sp. z o.o. 72.15%
- Evarts Investments Sp. z o.o. 72.15%
- Pepco Ingatlan Kft 72.15%
- Pepco Croatia d.o.o. 72.15%
- Pepco Czech Republic s.r.o. 72.15%
- Pepco Hungary Kft. 72.15%
- Pepco Slovakia s.r.o. 72.15%
- Pepco, trogvina na drono, d.o.o 72.15%
- Pepco Lithuania UAB 72.15%
- Pepco Latvia SIA 72.15%
- Pepco Estonia OÜ 72.15%
- Pepco Distribution Sp. z.o.o. 72.15%
- Pepco B-H 72.15%
- Pepco Logistics S.L 72.15%
- Pepco Group International Limited 72.15%
- Pepco Retail s.a. 72.15%
- Pepco Properties Sp. z o.o 72.15%
- Pepco Portugal LDA 72.15%
- Pepkor Import B.V. 72.15%
- Pepkor France SASU 72.15%
- Pepco Retail Espana S.L. (formerly Pepkor Retail Espana S.L.) 72.15%
- Pepco Group Services Limited 72.15%
- Pepkor PGS (Shanghai) Co Ltd. 72.15%
- PGS Partner India Private Limited 72.15%
- PEU (Fin) plc 72.15%
- Peu (Tre) Limited 72.15%
- Pepco Holdings sp. z o.o. 72.15%
- Pepco Austria GmbH 72.15%
- Pepco Greece IKE 72.15%
- Pepco Germany GmbH 72.15%
- Pepco Bulgaria EOOD 72.15%
- Pepco d.o.o. Beograd-Novi Beograd 72.15%
- Pepco Italy S.r.l 72.15%
- Poundland Limited 72.15%
- Poundland International Limited 72.15%
- Dealz Espana SL 72.15%
- Dealz Retailing Ireland Limited 72.15%
- Poundland Elgin Limited 72.15%
- Viewtone Trading Group Limited 72.15%
- Viewtone Limited 72.15%
- Frozen Value Limited 72.15%
- Jack Fulton Limited 72.15%
- Viewtone Trustees Limited 72.15%
- Minaldi Limited 72.15%
- Steenbok Newco 7 Limited* 100%
- Steinhoff UK Holdings Limited 98.95%
- Homestyle 2007 Pension Scheme Trustee Limited 98.95%
- Homestyle Pension Company Limited 98.95%
- Steenbok Newco 8 Limited 100%
- Steinhoff Holding Beta GmbH 100%
- AIH Investment Holding AG 100%
- Laguna Holdings B.V. 100%
- Laguna Investments Beta B.V. 100%
- Laguna Investments Alpha B.V. 100%
- Conforama Investissement SNC 100%
- Conforama Developpement SASU 0%
- Conforama Holding SA 99.98%
- Conforama Developpement 18 SASU 0%
- SCI Manda 0%
- Conforama Luxemburg SA 0%
- Conforama Espana SA 0%
- Realinvest Conforama SL 0%
- Conforama Portugal SA 0%
Significant events
- “On 13 August 2019, various companies in the Group had entered into a Creditors Voluntary Arrangement ("CVA") as described in note 15, and since its incorporation, the objective of the Company and its direct and indirect subsidiaries has been to monetise assets in order to make repayments of outstanding debt to the CVA lenders.”
- “The current period operating loss was driven primarily by a gain on revaluation of investments in subsidiaries to fair value totalling €160,856,901 (2023: loss of €647,168,209), relating primarily to the Company's investment in Pepco Group, which is listed on the Warsaw Stock Exchange.”
- “The Company also received dividends of €14,050,900 (2023: €nil) in the year.”
- “In the prior year, the Company made a loss from disposals of investments in subsidiaries totalling €24,849,739 (including costs), which arose when the Company sold a portion of its holding in Pepco Group N.V. and its subsidiaries via an accelerated book build. No such transaction occurred in the current year.”
- “Interest payable to group undertakings increased from €87,364,350 to €110,058,950 due to an increase in the interest rates charged.”
- “The implementation of the WHOA Restructuring Plan on 30 June 2023 included an amendment to the credit facilities and the CPUs of the Group, including a postponement of the due date of the SEAG's and SFHG's indebtedness from 30 June 2023 to at least 30 June 2026, with the possibility of further two one-year options to further extend the maturity dates up to 30 June 2028.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 4 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| DU PREEZ, Louis Jacobus | Director | 2020-09-23 | May 1969 | South African |
| MAHONEY, Sean Owen | Director | 2025-06-01 | Aug 1962 | American |
| VAN DEN BERGHE, Dirk Jozef Stefaan | Director | 2026-01-20 | Jun 1963 | Belgian |
Show 4 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BROWN, Neil Graeme | Director | 2020-09-23 | 2025-05-31 |
| LEE, Heyoung H | Director | 2020-09-23 | 2023-10-02 |
| MAHAJAN, Sandip | Director | 2020-09-23 | 2023-06-30 |
| SOLDATOS, Paul Williams | Director | 2020-09-23 | 2025-05-31 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Steenbok Newco 4 Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2020-09-23 | Active |
Filing timeline
Last 20 of 31 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-01-20 | AP01 | officers | Appoint person director company with name date | |
| 2025-12-24 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-10-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-06-09 | AP01 | officers | Appoint person director company with name date | |
| 2025-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-02 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-08 | AA | accounts | Accounts with accounts type full | |
| 2024-10-01 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-19 | AA | accounts | Accounts with accounts type full | |
| 2024-01-08 | CH01 | officers | Change person director company with change date | |
| 2023-10-04 | TM01 | officers | Termination director company with name termination date | |
| 2023-09-28 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-07-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2023-07-03 | TM01 | officers | Termination director company with name termination date | |
| 2023-05-10 | AA | accounts | Accounts with accounts type full | |
| 2022-11-02 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-03-07 | AA | accounts | Accounts with accounts type full | |
| 2022-01-10 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2021-11-09 | AD01 | address | Change registered office address company with date old address new address | |
| 2021-10-26 | CS01 | confirmation-statement | Confirmation statement with no updates |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 6
- Capital events
- 0
- Officers appointed
- 2
- Officers resigned
- 2
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.