NATWEST BOXED LIMITED

• ⚠

  Material uncertainty over going concern

  The directors intend to wind up the company in near future and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements.

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

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. Margin ratios are hidden where reported turnover is too small relative to profit to yield a meaningful figure — typical of holding companies whose income is mostly subsidiary dividends rather than trading revenue. Sector-distribution context coming next.

1. NATWEST BOXED LIMITED 2023-03-24 → present
2. NWB NOMINEE 1 LIMITED 2022-07-26 → 2023-03-24

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

Ernst & Young LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“The directors intend to wind up the company in near future and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements.”

Significant events

• “On 10 March 2025, National Westminster Bank Plc purchased the minority interest held by Vodeno Sp. Z.o.o in NatWest Boxed Limited for a consideration of €25 million (approx. £21 million).”
• “On 2 July 2025, the Company undertook a capital reduction: a) The amount standing to the credit of the share premium account, totalling £200,199,000 was cancelled in full and credited to the Company's distributable reserves. b) The issued share capital of the Company was reduced from 1,000 Ordinary Shares of £1.00 each to 1 Ordinary Share of £1.00.”
• “On 9 July 2025, the Board undertook a strategic review of the Company and approved the sale of the entirety of the intangible assets underlying the core Banking as a Service Platform (BaaS) to National Westminster Bank Plc. This sale, which was concluded after the balance sheet date, generated a gain of £44.6 million in 2025 and a consequential capital repatriation and settlement of associated financial liabilities of the Company with National Westminster Bank Plc.”
• “On 10 July 2025, the Board approved the payment of an interim dividend of £102,826,755 to National Westminster Bank Plc for the financial year ending 31 December 2025.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

2

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.