How much does Devoteam UK Ltd make?

Devoteam UK Ltd reported revenue of £27.1m and £649k profit in the year to 31 Dec 2023, according to its accounts filed at Companies House.

How many employees does Devoteam UK Ltd have?

Devoteam UK Ltd reported an average of 126 employees in the year to 31 Dec 2023.

Is Devoteam UK Ltd profitable?

Yes — Devoteam UK Ltd reported a profit of £649k in the year to 31 Dec 2023.

Company No. 03047188 · Incorporated 19 Apr 1995

Devoteam UK Ltd

Registered name: DEVOTEAM UK LTD

Devoteam UK Ltd made £27.1m revenue and £649k profit in the year to 31 Dec 2023.

Devoteam UK Ltd’s revenue grew 4% to £27.1m in the year to 31 Dec 2023, with £649k profit and 126 employees. The company is classified under “other information technology service activities” and is based in London; we hold 3 years of its filed accounts.

Full P&L filedSection J · Information and communicationSIC 62090Other information technology service activities

Status: Active
Location: London, London
Age: 31 yrs · since 1995
Type: Private Limited Company

Latest accounts · year to 31 Dec 2023

Key figures

IndependentCapital-lightDoing more with lessCash flow filed

Revenue

£27.1m

Growth ▲4.5%

Profit

£649k

Growth ▲0.5%

Profit margin

2.4%

Gross 21.8%

Employees

126

Change ▼7.3%

Profit / employee

£5.2k

Revenue/employee £215k

Profitable streak

3yrs

Consecutive profitable years in our data

Badges are automated estimates derived from the filed figures — not statements of fact about the company.

3 filed years

Financial history

Multi-year financials, oldest to newest
Year to	31 Dec 2021	31 Dec 2022	31 Dec 2023
Disclosure	Full P&L	Full P&L	Full P&L
Profit & loss
Revenue (turnover)	£24.4m	£26m	£27.1m
Cost of sales	£17.8m	£19.3m	£21.2m
Gross profit	£6.6m	£6.7m	£5.9m
Operating profit	£1.9m	£868k	£887k
Profit before tax	£1.8m	£827k	£862k
Profit after tax	£1.5m	£646k	£649k
Profit (best available)	£1.5m	£646k	£649k
Staff costs	£9.1m	£12.3m	£12.2m
Employees (average)	93	136	126
Ratios
Profit margin	6.2%	2.5%	2.4%
Gross margin	27.1%	25.8%	21.8%
Revenue per employee	£262k	£191k	£215k
Profit per employee	£16.3k	£4.7k	£5.2k
Cash conversion	22.9%	−36.4%	295.6%
Growth (year on year)
Revenue growth	—	▲6.6%	▲4.5%
Profit growth	—	▼57.3%	▲0.5%
Headcount growth	—	▲46.2%	▼7.3%
Balance sheet — indirect signals, not revenue
Cash at bank	£1.3m	£1.8m	£2.9m
Net assets	£3m	£3.7m	£4.3m
Fixed assets	£163k	£178k	£79.7k
Current assets	£10.4m	£11.4m	£11.5m
Debtors	£5.9m	£7.2m	£6.1m
Deferred income	£2.9m	£2.9m	£3.5m
Cash from operations	£429k	−£315k	£2.6m
Source	Accounts · bulk data Dec 2023	Accounts · bulk data Dec 2023	FullAccounts · bulk data May 2024

Derived from the latest filing

How the business works

Profit margin: 2.4%; Profit ÷ revenue.
Gross margin: 21.8%; Gross profit ÷ revenue. High for software and services.
Revenue per employee: £215k; Revenue ÷ average employees.
Profit per employee: £5.2k; Profit ÷ average employees.
Cash conversion: 295.6%; Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
Fixed assets ÷ revenue: 0.3%; Capital intensity. Low = capital-light, cheaper to start.
Deferred income ÷ revenue: 12.8%; Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
Debtors ÷ revenue: 22.4%; Money owed by customers. Low = customers pay quickly.

Indirect — not revenue

Balance-sheet signals

Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.

Net assets: ▲18%; Now £4.3m
Cash at bank: ▲61%; Now £2.9m
Headcount: ▼7%; Now 126
Deferred income: ▲19%; Now £3.5m
Fixed assets: ▼55%; Now £79.7k

Deferred income is reported together with accruals in this filing (“accruals and deferred income”), so it is an approximate signal only.

Corporate ownership

Group structure

Subsidiaries (1)

Ubertas Consulting LimitedFigures not disclosed

From the Persons with Significant Control register (corporate controllers only).

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Sources

Companies House profile Filing history & original accounts

Latest figures from FullAccounts for the year to 31 Dec 2023 (profit £649k), from the Companies House accounts bulk data published May 2024. Spotted an error? Request a correction.

Contains public sector information from Companies House licensed under the Open Government Licence v3.0. Data from Companies House, © Crown copyright. View the licence.