TWG CADILLAC FORMULA 1 TEAM LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-07-04 (in 2mo)
Last made up 2025-06-20
Watchouts
None on the register
Cash
£6M
Latest balance sheet
Net assets
£6M
Equity attributable
Employees
88
Average over period
Profit before tax
-£45M
Period ending 2024-12-31
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 | — | — | |
| Operating profit | -£2,150,548 | -£44,718,124 | |
| Profit before tax | -£2,150,548 | -£45,449,622 | |
| Net profit | -£2,150,548 | -£46,096,320 | |
| Cash | £713,481 | £5,682,915 | |
| Total assets less current liabilities | -£739,267 | £10,755,770 | |
| Net assets | -£739,267 | £5,927,745 | |
| Equity | -£739,267 | £5,927,745 | |
| Average employees | 46 | 88 | |
| Wages | £380,840 | £8,629,996 | |
| 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
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Return on capital employed | 290.9% | -415.8% | |
| Current ratio | 0.68x | 0.85x | |
| Interest cover | — | -61.13x |
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 3 times since incorporation
- TWG CADILLAC FORMULA 1 TEAM LIMITED 2025-03-19 → present
- GPM CADILLAC FORMULA RACING LIMITED 2024-12-16 → 2025-03-19
- CADILLAC FORMULA RACING LIMITED 2024-12-13 → 2024-12-16
- ANDRETTI RACING LIMITED 2022-06-24 → 2024-12-13
Audit & accounting basis
- Accounting basis
- FRS 102 §1A
- Reporting scope
- Standalone (parent only)
- Abridged
- Yes — abridged accounts (limited disclosure)
- Auditor
- KPMG LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The director has performed a going concern assessment which indicates that if the Company requires additional funds, this will be provided through funding from its parent Company, TWG Cadillac Formula 1 Team LLC, to meet its liabilities as they fall due until 31st December 2026, the going concern assessment period.”
Significant events
- “The Company passed a special resolution on 11 December 2024 to change its name from Andretti Racing Limited to Cadillac Formula Racing Limited. Then on 14 December 2024 to change its name from Cadillac Formula Racing Limited to GPM Cadillac Formula Racing Limited. Then on 16 March 2025 to change its name from GPM Cadillac Formula 1 Team Limited.”
- “On 3 March 2025, a group restructuring was completed which resulted in a change to the Company's group structure. A new joint venture entity, TWG Cadillac Formula 1 Team Holdings, LLC, was formed between TWG Motorsports, LLC and General Motors Holdings LLC, and has become the parent of the Company's immediate parent undertaking, now renamed TWG Cadillac Formula 1 Team LLC.”
- “After the reporting date, the Company received additional capital contributions totalling approximately $80.7 million up to March 2025 (£63.7 million), from TWG Motorsports, LLC. In addition, the Company received additional capital contributions totalling approximately $241.0 million up to August 2025 (£177.3 million), from TWG Cadillac Formula 1 Team Holdings, LLC.”
- “On 7 March 2025, the Company's immediate parent undertaking, TWG Cadillac Formula 1 Team, LLC, was confirmed as an official entrant in the FIA Formula One World Championship from the start of the 2026 season. The potential financial impact of this development on the Company cannot be reliably estimated at the time of signing these financial statements, however, after the reporting date, the Company entered a sponsorship agreement with a commercial partner for the 2026 Formula One season.”
- “After the reporting date, the Company entered into several property lease agreements to support its ongoing operational and infrastructure expansion. These include lease terms ranging from several years to long-term arrangements across the UK site. The total estimated lease liabilities recognised in connection with these leases amount to approximately £3.9 million, with corresponding right-of-use assets to be recognised on commencement.”
- “In one instance, a leasehold interest was acquired through an upfront payment, resulting in a right-of-use asset of approximately £17.6 million with no associated lease liability. These commitments were entered into after the reporting date and do not affect the financial position as at 31 December 2024.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
1 active · 0 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| TOWRISS, Daniel Jonathan | Director | 2022-06-24 | Jul 1972 | American |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Mark Richard Walter | Individual | Significant influence | 2022-06-24 | Active |
Filing timeline
Last 13 of 13 total filings
Material constitutional events — rename, articles re-file, resolution
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2025-10-01 | AA | accounts | Accounts with accounts type full | |
| 2025-09-30 | AA | accounts | Accounts with accounts type full | |
| 2025-07-11 | AA01 | accounts | Change account reference date company current shortened | |
| 2025-07-05 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-03-19 | CERTNM | change-of-name | Certificate change of name company | |
| 2024-12-16 | CERTNM | change-of-name | Certificate change of name company | |
| 2024-12-13 | CERTNM | change-of-name | Certificate change of name company | |
| 2024-06-20 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-06-10 | AA | accounts | Accounts with accounts type total exemption full | |
| 2024-06-06 | AD01 | address | Change registered office address company with date old address new address | |
| 2024-03-08 | AA01 | accounts | Change account reference date company previous extended | |
| 2023-06-20 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2022-06-24 | NEWINC | incorporation | Incorporation company |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- 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.