ZENOBE BORROWER FLEETCO LIMITED
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Cash
£11m
-45.3% lowest in 3 filed years
Net assets
-£8.2m
-34.8% lowest in 3 filed years
Employees
—
Average over period
Profit before tax
-£11m
+11.3% vs 2024
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Negative shareholders' funds
Net assets
3-year trend · vs Utilities median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £27,129,154 | £46,226,253 | £71,112,871 | +53.8% | |
| Operating profit | £3,886,149 | £5,598,329 | £14,683,388 | +162.3% | |
| Profit before tax | -£3,736,549 | -£12,018,139 | -£10,656,806 | +11.3% | |
| Net profit | -£3,736,549 | -£12,018,139 | £4,656,440 | +138.7% | |
| Cash | £11,241,684 | £19,222,543 | £10,515,809 | -45.3% | |
| Total assets less current liabilities | £128,837,261 | £256,589,797 | £527,002,695 | +105.4% | |
| Net assets | -£2,489,585 | -£6,085,505 | -£8,201,599 | -34.8% | |
| Equity | -£2,489,585 | -£6,085,505 | -£8,201,599 | -34.8% | |
| 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. 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 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 14.3% | 12.1% | 20.6% | |
| Net margin | -13.8% | -26.0% | 6.5% | |
| Return on capital employed | 3.0% | 2.2% | 2.8% | |
| Gearing (liabilities / total assets) | 100.7% | 101.3% | 101.2% | |
| Current ratio | 0.28x | 0.39x | 0.42x | |
| Interest cover | 0.50x | 0.31x | 0.57x |
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 102
- Reporting scope
- Consolidated group
- Auditor
- S&W Partners Audit Limited
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The Directors conclude that there is a reasonable prospect that the business will continue to be a going concern for the foreseeable future, supported by the continued proven resilience of the business throughout 2025 and a Letter of Support from Zenobe Energy Limited, the ultimate controlling party, guaranteeing sufficient ongoing support for at least 12 months from the date of signing of the financial statements.”
Group structure
- ZENOBE BORROWER FLEETCO LIMITED · parent
- Zenobe BOB 1 Ltd 100%
- Zenobe BOB 2 Ltd 100%
- Zenobe BOB 3 Ltd 100%
- Zenobe BOB 4 Ltd 100%
- Zenobe BOB 5 Ltd 100%
- Zenobe BOB 6 Ltd 100%
- Zenobe BOB 7 Ltd 100%
- Zenobe BOB 8 Ltd 100%
- Zenobe BOB 10 Ltd 100%
- Zenobe BOB 12 Ltd 100%
- Bess Holdco 9 Ltd 100%
- Zenobe Rental 1 Ltd 100%
- Zenobe Rental 3 Ltd 100%
- Zenobe Rental 5 Ltd 100%
- Zenobe Rental 8 Ltd 100%
- Zenobe Rental 10 Ltd 100%
- Zenobe Rental 11 Ltd 100%
- Zenobe Rental 12 Ltd 100%
- Zenobe Revenue 13 Ltd 100%
- Zenobe Charging 1 Ltd 100%
- Zenobe Charging 4 Ltd 100%
- Zenobe Charging 5 Ltd 100%
- Zenobe Charging 7 Ltd 100%
- Zenobe Charging 11 Ltd 100%
- Bess Holdco 7 Ltd 100%
- Bess Holdco 12 Ltd 100%
- Zenobe Ireland EV Limited 100%
- Zenobe Borrower Fleetco 2 Limited 100%
- Zenobe Finland Oy 100%
- Zenobe Spain EV Vehicle S.L. 100%
Significant events
- “Entered into a long-term framework agreement with a key UK customer for £150m of future EV leasing, covering ~300 buses.”
- “Subsequent to the reporting date, in June 2026 the Group entered into new term loan facility agreements with total commitments of approximately £480 million, which were utilised to refinance the Group's existing financial indebtedness. In addition, the Group entered into a £400 million revolving credit facility, a £50 million debt service reserve facility, and a £40 million working capital facility, to fund pipeline capital expenditure.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 1 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| BARR, Sophie | Secretary | 2021-10-06 | — | — |
| BASDEN, James Edward Stewart | Director | 2021-10-06 | Jul 1967 | British |
| MEERSMAN, Steven Gerard Christianne | Director | 2021-10-06 | Sep 1986 | Belgian |
Show 1 resigned officer
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BEATTY, Nicholas Duncan | Director | 2021-10-06 | 2024-10-30 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Zenobe Parent Fleetco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-01-28 | Active |
| Zenobe Parent Fleetco Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2022-01-18 | Ceased 2022-01-18 |
| Zenobe Energy Limited | Corporate entity | Shares 75–100%, Voting 75–100% | 2021-10-06 | Ceased 2022-01-18 |
Filing timeline
Last 20 of 28 total filings
Material constitutional events — rename, articles re-file, resolution
- 2023-10-17 RESOLUTIONS Resolution
- 2022-02-04 RESOLUTIONS Resolution
- 2022-02-04 MA Memorandum articles
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-24 | AA | accounts | Accounts with accounts type group | |
| 2026-08-20 | CH01 | officers | Change person director company with change date | |
| 2025-11-24 | MR05 | mortgage | Mortgage charge part release with charge number | |
| 2025-10-17 | AAMD | accounts | Accounts amended with accounts type group | |
| 2025-10-15 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2025-08-05 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2025-07-10 | AA | accounts | Accounts with accounts type group | |
| 2024-11-04 | TM01 | officers | Termination director company with name termination date | |
| 2024-10-22 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2024-10-16 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-26 | AA | accounts | Accounts with accounts type group | |
| 2023-10-17 | RESOLUTIONS | resolution | Resolution | |
| 2023-10-03 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-08-07 | AA | accounts | Accounts with accounts type group | |
| 2022-12-09 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-11-24 | AA01 | accounts | Change account reference date company current extended | |
| 2022-06-20 | AD01 | address | Change registered office address company with date old address new address | |
| 2022-02-04 | RESOLUTIONS | resolution | Resolution | |
| 2022-02-04 | MA | incorporation | Memorandum articles | |
| 2022-02-04 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 5
- Capital events
- 0
- Officers appointed
- 0
- Officers resigned
- 0
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.